Powerball Winner Should Be Set for Life
Neal Wanless, the winner of a recent $232 million Powerball jackpot should now be set for life, even if he doesn’t make a penny of interest or other gains on his winnings. This young South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). cowboy cowboy
Horseman skilled at handling cattle in the U.S. West. From c. 1820, cowboys were employed in small numbers on Texas ranches, where they had learned the skills of the vaquero (Spanish: “cowboy”). , who previously had trouble paying his taxes, will never have trouble paying for anything else nor will he ever have to work again. That is, assuming he plays his cards right and doesn’t go insane INSANE. One deprived of the use of reason, after he has arrived at the age when he ought to have it, either by a natural defect or by accident. Domat, Lois Civ. Lib. prel. tit. 2, s. 1, n. 11. with his new-found fortune.
Wanless is still in his twenties but received more than $80 million in a lump-sum payout – after taxes! He would still have money left, even after spending a million dollars a year beginning right now. All he has to worry about is keeping the rest his money safe while spending his $1 million annually.
He doesn’t have to take any risks or be concerned about the “performance” of his investments. Therefore, he should steer clear of anyone purporting to be letting him in on a “great ground-floor investment opportunity.” For him, financial planning Financial planning
Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against at this point should be no-brainer. If it were me, I would put the money into government money funds that pay little interest but are completely backed by the full faith and credit of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. government.
Now I’m not suggesting that he spend the whole million each year on himself and his family and friends. I’m sure he would – as well he should – donate a large portion of it to the needy need·y
adj. need·i·er, need·i·est
1. Being in need; impoverished. See Synonyms at poor.
2. Wanting or needing affection, attention, or reassurance, especially to an excessive degree. and other worthy causes. He could give away three-quarters of his annual outlay and still live like a king, or least better than 99.9% of the world’s population.