Posted on 10/10/2023 8:58:05 PM PDT by Jonty30
And he’s already spent about $100 million of that, in just one year.
The property taxes on that 100 million in real estate is costing him over one million a year in property taxes in southern California.
I’m sure North Korea has some beautiful spots in it too, but I sure don’t want to live there.
I’d buy land in the country. Big acreage. Farm land, forest, lakes, rivers, ocean or bay front.
North, South or West.
A small house or cabin with a workshop and a garden on the property.
Wouldn’t need or want much else.
I used to live in a one bedroom apartment by the high school when it was just my wife and I. I work on NASNI but now with a family, can't possibly afford to live there.
Coronado is truly beautiful. A gem of Southern California luxury.
He’s bigger than US Steel.
I have no idea how my post related to North Korea.
You're very right about that Jonty. I think our "lottery winner" has some financial lessons in his future.
I don't wish Castro any ill luck... but as so often happens, those who come into MILLIONS are soon separated from their money like many of our HIGH PAID athletes have experienced.
Being located in Tennessee, I witnessed former NCAA Champion and Texas Quarterback Vince Young who signed for BIG MONEY with the Tennessee Titans and eventually ended up BROKE and had a nervous breakdown as well.
When you come into that kind of BIG MONEY you are simply TRADING YOUR OLD SET of LIFE PROBLEMS for a NEW SET of PROBLEMS!... and quite often, some painful NEW LESSONS come with the PROBLEMS.
If he parked his money and lived off the interest, he would have an amazing life.
The problem is that unless his money is generating money, it will eventually run out.
Singers, actors, performers get royalties for their work long after they retire.
Lottery winners are one and done. If you don’t manage it, it will evaporate out from under you.
At least he’s investing it in assets, instead of mayhem and foolishness.
“I have no idea how my post related to North Korea.”
California/North Korea, same same. If I had a $Billion, I’d find a free state.
Organizers could spread that billion among 1000 winners.
The average property tax rate in LA County is .82%, so property taxes on the new crib are $400K a year, more or less. I agree with the other commenters on these real estate purchases: A fool and his money are soon parted
https://smartasset.com/taxes/california-property-tax-calculator#LD6x4lid4a
He has no choice but to live in a place like that. He’d have a large target on his back if he stayed in his old neighborhood.
I would have chosen to live in a high-secure building for a few years and use my lawyer as a front when buying anything.
How much?
For me, large mountain acreage, river runs through it, nice smaller house. And prep.
First he should have left caulifourkneeyuh!
I love your plan. Same for me, except in Washington or Oregon, just because I like the climate.
Michael Keaton Jr, when he left Hollywood, bought a 500 acre spread in Montana where he spends most of his time.
If I won 2 billion $$$, I would use it to end hunger in the world. 🙄
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.