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Response to jmowreader (Reply #35)

Sat Dec 14, 2013, 04:33 PM

36. No need for insurance if you are using Treasuries.

Since FDIC insurance is a plan paid for by the banks, at the sums this lottery is paying, the safest investment would be US Treasuries.

As far as what happens to the money, also easily done with a trust.

But, however you want to do it is cool! It's fun to think about, anyway.


There are so many ways to handle such a large sum it isn't funny, but the fact is, whoever wins it will be best served by seeking professional advice regarding wealth management.

At the level the Mega Millions will be for Tuesdays draw, if you took the cash option and if you live in a state with no state income tax, you could expect to receive around $180 million.

At that level you could take $100 mil of it and go to Goldman Sachs in NY. They could set up a private placement muni bond situation, where you could/would be the sole underwriter for a towns water works, for instance. It doesn't have to be Goldman, there are numerous other firms that do that sort of thing)

The point is, assuming you need FDIC insurance for a sum of even twenty mil, much less $180 mil is not the case.

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B Calm Dec 2013 OP
Locut0s Dec 2013 #1
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Locut0s Dec 2013 #24
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jmowreader Dec 2013 #31
A HERETIC I AM Dec 2013 #34
jmowreader Dec 2013 #35
LineLineLineLineNew Reply No need for insurance if you are using Treasuries.
A HERETIC I AM Dec 2013 #36
Packerowner740 Dec 2013 #32
B Calm Dec 2013 #33
Carolina Dec 2013 #37
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