Quote:
Originally posted by Halx
Also, don't give shit to anybody.
|
I disagree. You are going to have people coming out of the woodwork, especially family. You "can't" turn down family and still go to weddings, funerals, etc. So I would give everyone in the family (aunts, uncles, first cousins but not cousin's spouses or kids) a specific amount of money - if we are talking the million per year, probably $5,000. With it I would put a letter to the effect of: "I have been fortunate, so here is $5,000. I am giving this as a gift, without you asking. This is the only gift of this money I am giving you. If you ask for anymore, for any reason, you will no longer be considered my family." My parents, brothers, sisters, children, grandchildren (if any exist), would get what they need, but everyone else would only get the one time payment.
Anywho, I would take the annuity. The first year's money would go to pay down all debt. Future years would go into investments that would pay a monthly dividend or interest. Figuring a 6% return, each half million would produce $2,500 per month. After three years or so, you probably could stop working. From there, who knows.