Million Dollar Question

My wife and I were watching a show today about people who hit the lottery and became millionaires instantly. Some obtained as little as $3.4 million to $56 million. After watching this show an hour or so my wife and I then asked the million dollar question... "What would you do with that amount of money?"

Honestly I think splurging would be a necessity at some point in time especially if you really came from a poor to a medium income family, but my first worry about the money would be what if it runs out? What if I spend it too fast?

So I think investing would be wise. If I had $56 million I would take about $45 million and throw it all in a CD account, if possible, and let it sit and gain interest. If the interest on the CD account was 4% that would be a $1.8 million annual income from interest alone. Can you imagine making $1.8 million a year? Talk about set for life. Even if you made that $3 million you could invest the whole lump sum and interest would set you at $120,000 annually.

Another alternative would be buying a few fast food chains here and there. I don't know how practical the reality of it is but the concept of it seems nice. If it were to work the way I would want it I would buy a few Taco Bells and McDonalds and let that monthly income accumulate. It may require a lot more work and responsibility but this would be an interesting way of creating a constant income.

So my question to you is, What would you do with $56 Million?

Comments

[Edos]

56 Mil. 54 Hookers. 1 night in a hotel room... and me. I would wake up the next day sadly fulfilled and broke.