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I made ~50 million in crypto. By far the most satisfying part was buying a house each for my friends and family. Having a paid off house is really a massive stress reducer for most people which imho gives you the 90% of the financial freedom of being super wealthy.
I made ~50 million in crypto. By far the most satisfying part was buying a house each for my friends and family. Having a paid off house is really a massive stress reducer for most people which imho gives you the 90% of the financial freedom of being super wealthy.
In contrast with the prototypical lottery winner who burns through all their money and ends up basically where they started, this guy didn't spend any significant amount of his money and ended up basically where he started.
Classic Reddit thread: https://old.reddit.com/r/AskReddit/comments/24vzgl/you_just_... > Congratulations! You just won millions of dollars in the lottery! That's great. > Now you're fucked. > No really. > You are. > You're fucked. This guy did exactly the right thing.
What about: "Hey, I made a million bucks in the lottery/stocks/crypto. I heard you're having a tough time, take this -- you don't owe me anything. Wishing you well, -Dave."
Other than not donating any of it, he made the right call. The fact that the winner still has the money after 10 years is evidence he took the correct course.
The more interesting questions are if and why money conservation to this extent would be desirable. Neither is self-evident to me – but, admittedly, also not terribly interesting.
This guy sounds like a special kind of asshole. Who wins $55 million dollars and thinks about “loaning” money to their parents? Lol. I get why you wouldn’t want to tell anyone you won the lotto, but you can tell a little white lie and claim to be doing well career wise so you have an excuse to give your parents some money.
This guy wants to justify being a greedy jerk IMO.
I made ~50 million in crypto. By far the most satisfying part was buying a house each for my friends and family. Having a paid off house is really a massive stress reducer for most people which imho gives you the 90% of the financial freedom of being super wealthy.
I agree with you, although I think it would be really easy to go overboard here. Did you have people come to you asking for houses? Maybe I'm being cynical, but I think that news would spread really quickly if someone in my friend group was buying houses for several people.
There are a bunch of different ways to approach having a lot of money. I have been lucky enough to be extremely well compensated these last few years. To the point where we are getting on toward having so much money that it doesn't seem possible to use it all, although we are nowhere in the range of this lottery winner. My family knows I'm doing well, but perhaps not exactly how well, which is a fine state of affairs as long as everyone understands that there are boundaries. I think you can use money like that to make life better for your loved ones without going all the way toward making them dependents, and personally it has felt right to do that for me. But everyone has their own views on what is best.
Not that much, but I did make a ton of money in crypto. Similar thing: bought a house, also bought myself a nice car. I didn't tell any of my friends, but did mistakenly tell one of my parents, who then felt it necessary to share this information with the rest of my family. If you make a bunch of money: I would highly recommend not telling people. The will treat you differently (not in a good way).
On the other hand, if your family is comfortable, this happens to you when you're 35 and want to retire and travel the world at least for a while, it's probably hard to deny that you had some sort of real financial windfall.
Other than not donating any of it, he made the right call. The fact that the winner still has the money after 10 years is evidence he took the correct course.