3 ms·
> If I won the lottery, and I just sent, say, a $500M check to a regular discount broker and bought an index fund, is someone going to take it away from me? No
by RhysU 3y ago
> If I won the lottery, and I just sent, say, a $500M check to a regular discount broker and bought an index fund, is someone going to take it away from me?
Not from you, but the IRS will take 40% of everything when you die.* Only 60%, at best, goes to your heirs depending on state law. Unless you proactively plan.
* Yes, yes the $13M federal exemption but that's a rounding error at the $500M+returns scale.
- olddustytrail 3y agoAw, the poor little workshy brats. If there's three of them they'll have to struggle by on $100 million each. By the safe withdrawal rule, that's just $4 million a year each indefinitely. Cry me a river.
- deleted 3y ago[deleted]
- red-iron-pine 3y agoGood. Should be more like 80%. No more aristocracies.