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  1. Jun 18, 2010 · Estimated reading time: 2 minutes. What should you do if you win $50 million? Everyone wants to win Lotto Max's multi-million dollar prize. Here's how not to blow it if you have the winning...

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    • Use a high-interest savings account
 While you have a year to claim your winnings, it could still take a while to sort out what to do with that money.
    • Invest in dividend-paying stocks. 
Imagine if that lottery win could last generations. It really can, if you invest wisely. Consider putting your money into dividend-paying businesses.
    • Buy your dream house in cash
 If you win the lottery, there's no way you won't upgrade your living conditions. Don't go crazy, of course -- think twice before buying a $20 million abode -- but if you want to spend a couple million on a new place, then go for it.
    • Set up a donor-advised fund. Rather than simply cutting some cheques to your favourite charities, go to your bank and set up a donor-advised fund. You'll still be able to donate that money to whomever you want, but the financial institution will grow your dough in the markets so that you'll always have cash to give to people in need.
  2. Set up a trust for my nieces. Speak with a tax advisor and financial advisor about options, but would like to have quite a diverse portfolio thinking both long and short term. Set up a house buying fund. Make a donation plan for a couple of chosen charities, both for immediate donations and longer term endowments.

  3. Mar 20, 2024 · Wondering what to do with 50 million dollars? You should basically do two things: Have fun with your dollars (go on trips, donate some money, buy some cool stuff). Invest your money so you can live from the interest. Related: What Is the Interest on 10 Million Dollars? (Is It Necessary?)

    • Founder-Life And My Finances
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  5. Oct 25, 2023 · The quick answer is, you could make as high $56,000 on a pre-tax basis a year on $1 million if you were to invest it in a 1-year Guaranteed Investment Certificate (GIC). On a monthly basis, this means that the interest income on $1 million would be $4,667. This works out to $1,077 of interest per week or $153 per day.

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