this post was submitted on 19 Jan 2025
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[–] AngryCommieKender@lemmy.world 5 points 1 day ago* (last edited 1 day ago) (2 children)

That's why if I won the lottery, I would immediately stick the whole amount into a trust to get the best APY possible, and break it into smaller trusts for myself and my family. The vast majority would be handed over to a trust that I would call, "The Sovereign Fund for Humanity's Poor," and go get a fiduciary from LA, a fiduciary from London, and two of the best data analysts from Oxfam that I could get my hands on, and make them the only members of the board. At that point I have it set up to use the APY to grow the fund, and set up retirement funds for the poorest people in the world, first. If I managed to start the thing with a mere $500,000,000, and got close to 11.5%-12% APY, and the population actually caps at 9-10 billion, in 500 years I would have funded UBI

[–] Revan343@lemmy.ca 4 points 20 hours ago (1 children)

Yeah...I bet you don't buy lottery tickets

[–] AngryCommieKender@lemmy.world 3 points 19 hours ago

Only one a week when the jackpot is over $200 million.

[–] Tiger@sh.itjust.works 2 points 20 hours ago (1 children)

That’s great, I also thought before that I would push myself to immediately donate the majority of such a windfall. Your idea is much better thought out and more impactful long term!

[–] AngryCommieKender@lemmy.world 1 points 11 hours ago

Thank you, very much. I shared the idea so that others can not only steal it, but ruminate on it and improve the idea.