I was thinking about that $850 jackpot.
If you won and set up trust funds with all of your immediate family (mother, father, siblings, cousins, aunts, and uncles) so they get, say, $1,000 per week for life.
So you set up your immediate family with:
1. $1,000 per week, with 5% simple interest.
2. Joint tenancy with right of survivorship (this means that when they die, it goes to a person of their choice (spouse, kids, etc.)
3. Put it in escrow so it can't be changed
Are you free?
Is your family free?
Think about it, you never have to work again. Your family doesn't have to work again. You can have cookouts every weekend and not have to worry about paying bills.
I mean, $52k per year isn't rich by any means, but you'll never have to worry about where your next meal is coming from. If times get hard you can get a hotel room for a few weeks and figure things out.
How about $2k per week?
How about $3k per week?
A lot of this question is based on financial literacy.
How much money per week, in weekly payments, would you consider yourself "free". Meaning; You'll never have to work for anybody else for the rest of your life.
I think I'd set it up so I'd get $2k per week and my family members would get 1k per week.
If you won and set up trust funds with all of your immediate family (mother, father, siblings, cousins, aunts, and uncles) so they get, say, $1,000 per week for life.
So you set up your immediate family with:
1. $1,000 per week, with 5% simple interest.
2. Joint tenancy with right of survivorship (this means that when they die, it goes to a person of their choice (spouse, kids, etc.)
3. Put it in escrow so it can't be changed
Are you free?
Is your family free?
Think about it, you never have to work again. Your family doesn't have to work again. You can have cookouts every weekend and not have to worry about paying bills.
I mean, $52k per year isn't rich by any means, but you'll never have to worry about where your next meal is coming from. If times get hard you can get a hotel room for a few weeks and figure things out.
How about $2k per week?
How about $3k per week?
A lot of this question is based on financial literacy.
How much money per week, in weekly payments, would you consider yourself "free". Meaning; You'll never have to work for anybody else for the rest of your life.
I think I'd set it up so I'd get $2k per week and my family members would get 1k per week.