Why Did The Man Get A $100 Bill Painted On His Penis?
I look at the people who win the lottery and sports figures and have always wondered how they could possibly spend the amount of money that they receive. It seems completely inconceivable to me.
Take for instance MC Hammer. He made millions of dollars through his music, and then ended up going completely bankrupt. It’s completely unfathomable to me as to how this can happen.
So let’s break this down. You win the MegaMillions Jackpot and take home a nice cash payout of $110 million dollars (like the most recent big money winner did - you know, the cleaning lady). So you take the extravagant world tour, spending $1 million (yeah, I’m trying to over-estimate here). You buy the extravagant estate in the United States for $4.5 million. You buy a chateau in France for $10 million. You buy all of the fancy toys, cars, gadgets, robots, etc to accompany your house - $10 million. That leaves you with approximately $85 million. How in the world can one person possibly blow $85 million.
[Edit: as I was writing this, Ferrett pointed out to me how appropriate the use of the word “blow” was, as most of these fortunes normally do end up going straight up someone’s nose.]
I still can’t understand why the people that win these large payouts (or strike it rich through athletics) don’t take the majority of their money and invest it to live off of the interest. Let’s say that you invest your $85 million that you have left over in investments (be they stocks, bonds, properties, businesses, etc) that return only a 5% interest. That’s more than $4 million per year that you can live off of. Who can possibly need more than that?
Hell, if you really want blow, $4 million a year will support a nice coke habit.
Take for instance MC Hammer. He made millions of dollars through his music, and then ended up going completely bankrupt. It’s completely unfathomable to me as to how this can happen.
So let’s break this down. You win the MegaMillions Jackpot and take home a nice cash payout of $110 million dollars (like the most recent big money winner did - you know, the cleaning lady). So you take the extravagant world tour, spending $1 million (yeah, I’m trying to over-estimate here). You buy the extravagant estate in the United States for $4.5 million. You buy a chateau in France for $10 million. You buy all of the fancy toys, cars, gadgets, robots, etc to accompany your house - $10 million. That leaves you with approximately $85 million. How in the world can one person possibly blow $85 million.
[Edit: as I was writing this, Ferrett pointed out to me how appropriate the use of the word “blow” was, as most of these fortunes normally do end up going straight up someone’s nose.]
I still can’t understand why the people that win these large payouts (or strike it rich through athletics) don’t take the majority of their money and invest it to live off of the interest. Let’s say that you invest your $85 million that you have left over in investments (be they stocks, bonds, properties, businesses, etc) that return only a 5% interest. That’s more than $4 million per year that you can live off of. Who can possibly need more than that?
Hell, if you really want blow, $4 million a year will support a nice coke habit.