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The Stacking Benjamins Show

Fortune Favors the Prepared - Managing a Windfall

The Stacking Benjamins Show

Joe Saul-Sehy | Cumulus Podcast Network

Investing, Business, Self-improvement, Education

4.21.9K Ratings

🗓️ 4 August 2023

⏱️ 70 minutes

🧾️ Download transcript

Summary

In today's roundtable, we dream the same dream that millions of lottery ticket buyers dream week in and week out: what would you do if you pick the right six numbers in the correct sequence? Beyond the lottery, how do you effectively manage any lump sum of Benjamins that may appear in your account? Our elite 3 roundtable panelists dive into the deep end when it comes to taxes, inheritance, and expected/unexpected windfalls. Joining us today is a lady who knows a little something about managing money efficiently. Paula Pant; the man who probably has the winner's phone number on speed dial, Len Penzo; and the CFP extraordinaire who may or may not have worked with lottery winners in the past (but he won't tell us), OG! Then we hear a heartwarming story of another winner who fulfilled his promise that he had jokingly made with his stepdaughter by letting her know that; unfortunately, she would have to start paying her phone bill - as a result of her reaping the $200,000 prize. The disappointing part of this story is that she plans to spend it all on a combination of home improvements and splurge on a big family vacation, with no mention of anything being saved or invested. Have you made a plan of what you would do if/when you come into a big sum of Benjamins? Let us know in our Facebook group, The Basement! In the second part of the show, sponsored by DepositAccounts.com, we put our money nerd hats on and talk about how we'd invest a huge sum of money. Plus, stick around for Doug who tries to lift our spirits by bringing some bubbly trivia. FULL SHOW NOTES: https://www.StackingBenjamins.com/lottery Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.StackingBenjamins.com/201 Enjoy! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Spider-pink. Spider-pink. Does whatever a spider-pink does? Can he swing from a web?

0:08.0

No, we can't. He's a pig. Look out! He is a spider-pink.

0:18.0

Live from Joe's Mom's Basement! It's the Stacking Benjamin Show!

0:30.0

I'm Joe's Mom's Neighbor Doug, and on today's show, we'll play the part of a Powerball winner.

0:39.0

How would we invest a huge windfall? What would we buy? How much would we give to Doug?

0:45.0

Oh, that's not in the script. It should be. To play the I'm suddenly a bajillionaire game,

0:51.0

we welcome the woman with a bajillion fans from a Ford Anything, Paula Pant.

0:56.0

And it's the guy who'd build a better bunker under Los Angeles, Chip Gaines.

1:02.0

Now, who needs Chip Gaines when you've got a guy with better hair? Lin Penzo.

1:07.0

And finally, the man who already helps investors with millions, our very own OG.

1:14.0

But that's not all halfway through today's discussion. We'll take a break to dive into our here long trivia competition.

1:21.0

And now, a guy who's ready to grab the reins and usher you into a more financially secure weekend.

1:28.0

Joe, shall we see high?

1:34.0

Hey there, Stackers, and happy weekend to you. We're going to make it even happier

1:37.0

because we're going to go to a magical place where you imagine that you just won the Powerball.

1:42.0

And let's say hello to the gentleman who I must have won the Powerball already

1:48.0

because I get to podcast with him three days a week. It's Mr. OG. How are you, man?

1:53.0

For the record, if...

1:55.0

And I already told Doug this, I've told everybody the first order of business is I'm changing my phone.

2:01.0

And it just, you just do do do. We're sorry. The number you've called us no longer in service.

2:06.0

So if that...

2:07.0

There will be a smoke trail behind OG.

...

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