I don’t know why stuff like this keeps me up at night but let’s pretend you just won some obscene amount and there’s a lot of people you’d like to set up for life. Let’s say after taxes you have $300m in your account

You can give someone up to 18k a year without incurring a gift tax and while that’d definitely be a nice bump to their income, you still have way more money than you know what to do with. So what’s the smartest way to hook them up?

A couple of options I’ve considered are:

  1. Give them a lump sum of $X million. They eat the taxes the first year and handle the savings themselves.

  2. Create a company and hire them to “work” one hour a month for a big salary. If you put $25m in an account, the interest covers the salary. They get a steady bonus income with the added bonus of getting the best insurance available. Is that legal?

  3. Set up a “shared” checking account they can use to pay for…whatever. But would these expenses count towards the gift tax? I do not know.

  4. Buy houses and let them live there rent-free. I don’t really like this one because I don’t want to be a lord to my friends and family.

For the record, I did not win the lottery. I don’t even play it. I’m just working out the details in a fantasy world for some reason

  • @TheBigBrother
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    -22 months ago

    There is nothing fully secure, I mean any currency fiat or not get value or loss it for external reasons, I think the most secure and compact of all it’s diamonds but even it can loss value or be robbed, I believe gold bonds could be a good option also, as everything it’s going electronic my opinion it’s stablecoins linked to gold or some kind of natural resource it’s another good option.

    Diversifying in different types of investments it’s a must go with big amounts of money, real estate, gold, high risk investments a good portfolio need to be integrated by a diversity of types of investments that way if something goes down you will not lose your whole money and as market it’s always growing(at least until now) there is a bigger chance the majority of investments goes up instead of going down. Unless economy goes into a market crack.

    My point it’s there is nothing fully secure but you can try to gain more value for your investments instead of losing it. Just my humble POV.

    • @[email protected]
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      fedilink
      12 months ago

      Stable coins are tied to a fiat currency, right? So it would inherit their instability, plus additional instability if it becomes insolvent?

      • @TheBigBrother
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        -22 months ago

        Stablecoins are tied to fiat or natural resources value, so if you invest in stablecoins it’s like if you have those, for example pax gold it’s tied to the value of an ounce of gold 1 PAX = 1 ounce of gold, about insolvency I have understood stablecoina behave as fiat there is a limit but it’s almost unlimited in a real world application.