Soooooo......

[Ghoulish Delight]

So what, you wouldn't pay off your bills?



Actually, the real irony in that statement is that having that amount of wealth will (if you're smart) more than likely net you MORE bills. While it may be tempting to go out and drop a load of cash for a new house or new car, in reality it makes a lot more sense to get a loan at the ridiculously low rates available to people of extreme wealth, then take the money you would have paid for the house and invest somewhere that beats the interest rate on the loan. And voila, your house is paying for itself and then some. With that model, you'll be piling up loans in no time.

[Alex]

Originally Posted by Ghoulish Delight

While it may be tempting to go out and drop a load of cash for a new house or new car, in reality it makes a lot more sense to get a loan at the ridiculously low rates available to people of extreme wealth, then take the money you would have paid for the house and invest somewhere that beats the interest rate on the loan.

I 80% suspect that if I won $500 million in the lottery I'd probably end up just dumping it in a checking account never getting around to doing anything with the money.

Then the bank would fold and I'd get to keep $250,000 of it.

[alphabassettgrrl]

Originally Posted by Alex

I 80% suspect that if I won $500 million in the lottery I'd probably end up just dumping it in a checking account never getting around to doing anything with the money.

Then the bank would fold and I'd get to keep $250,000 of it.

That's funny. I have sometimes thought the same thing.