Re: How do you feel about people outright asking you for money?
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My wife and I discussed this last week just for #####'s and giggles what we would do if we won the lottery for a couple hundred million . We decided we would probably give at least 110 million away to friends and family.
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A couple hundred million is worlds apart from $3-4 million. Let's say you win $500 million in the lottery. Federal and state taxes take it down to $300 million. In order to give $110 million (after taxes) to your posse, you will need to give them a total of $245 million(gift tax is still about 55% I believe). Do you see why giving away your money is a foolish financial strategy?
I will let Greg defend himself, but your argument is flawed when you compare winning $3-4 million(before taxes) with being Bill Gates rich. There is a difference.
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