A few months ago I won circa 3 million dollars on a lottery,

Don't tell people you have money. It will cause you a lot of trouble.

>>18685640
But I really want to go overseas to study, my mom already knows. I didn't tell her. Only she knows though, she is not a stupid woman

>>18685634
College is a meme
Learn a trade and coast on your winnings; use your job money to put yourself through school if you really want it.

>>18685645
Just say you got an offer to study overseas? It's not uncommon

>>18685646
If I used my job's money I would be able to afford this school in 10 years, and that would be only the first term, I have no interest in wasting my tjme studying something I'm not interested in, I already feel Im old for school but this school is my dream since I was 12

>>18685649
It is hella uncommon on a thirdworld country

I would not be able to hide it.

5000k used to be my yearly salary

>>18685651
>If I used my job's money I would be able to afford this school in 10 years
And if you use 700k on school, you'll be down 700k and have a fancy piece of paper that says you heel and speak on command; not necessarily traits that are going to land you a job which is most important when the money finally dries up. Where you study is much less important than what you study; you need to be in demand.

>>18685670
Well I do already have a degree from my own country but I know people from this school I know the school too. What they produce, they make students their slaves until they get so good at what they do they don't need a piece of paper, a lot of veterans already in the market come back to this school just to study and reinforce again, is a school known to make you good and land you a job at any studio you want as long as you let them guide you. I also know school is a meme but there are some good pricey schools out there that live up to their name

Dude, blowing 700k a year on a degree is a TERRIBLE fucking idea. Please speak to a financial advisor. They will help you put your money into tiered safety investments that will fund you for the rest of your life.

Prestigious universities are NOT worth blowing your whole fortune on.

How old are you OP?

>>18685713
I said it was for 5 years not 700m per year
I'm 22

It's not only the price of the school, there are other courses I have considered but ai want to say yolo because I'd have 2 million dollars left and I don' even want a house, I live with my mom because we're dirty poor I do have a job though, thinking about quitting

>>18685634
Listen, anon. Don't spend fucking 700k on a degree. Why don't you select a cheaper, possibly less prestigious college, and spend roughly 120-160k instead. It will look less suspicious if you say you got a study abroad offer, and you'll also have more quid to hold onto for the future.

>>18686127
This. Or just invest in real estate to have that sweet sweet passive income.

You're pretty much set for life provided you dont spend your money on stupid shit.. like a 700k degree.

>>18685657
is this a fucking typo, because you're saying you made 5 million a year which is 2 million more than that 3, I'm guessing you meant to write 500 grand

>>18685634
I mean if that's what you really want, personally I think 700 grand on a degree is a load of shit, but if you're concerned about the statistics for landing a job as a graduate from that university (which aren't always reliable and don't account for opportunities that the kind of rich people have that go to these universities have), then I guess maybe you could go ahead if that's what you really want?

Also I'd like to point ahead that because you live in a shithole, that 3 million dollars amounts to a LOT of spending power in your country (i'm guessing). Even if you gave 100 grand each, you'd already be setting them up for life. Hell, you'd be setting yourself up for life with that much, let alone 3 million.

If you want a reasonable excuse for why you're going overseas, tell them you're shoring up to work there instead and that you will be trying to make a life for yourself over there instead.

>>18686188
>>18686188
yeah I got confused, it was 5k not 5000k, sorry about that

the degree itself is actually 380k with housing, food, school bills, materials, plain tickets, all that, but I also counted courses I'd like to do after getting a degree. so it would actually be less than 500k and it would be spent in a matter of 4 to 5 years so I'd have the other 2 million invested by the time I put a foot on the school since I should expect anual returns from a traditional portfolio

all in all is about 480k-500k give or take.

yes, a dollar here is worth a lot and I will invest the rest, I don't want cars, I don't want fancy things or houses (maybe an apartment for my mom and money for her so she has to never work again) but that's it. I don't believe in fancy stuff but I do believe in fancy education?

I think I will tell my mom the truth, I only have one life and It's my dream, I don't want to stop working or anything, just want to study and learn my craft well you know?

I used to hate rich people anyway, I hate fancy stuff.

but I will consider what you told me, ty for that

>>18686219
well, congratulations on the whole lucking out thing, this path was not carved out by your own merit, but at the very least you sound mostly rational and I hope you won't become part of those anecdotes where somebody wins the lottery and then loses it all.

you'll be fine as long as you keep some of it in reserve in case it all comes crashing down; also it's virtuous to tell the truth, so good on you

The biggest mistake people who suddenly come into wealth make is not hiring a financial advisor immediately.

OP, you have no idea what the best way to use that money is and you should pay someone to tell you.

>>18685646
Saying college is a meme is for people that don't know how to play the game. There's loads of people that can segue a degree into a successful career. There's also loads of people that don't belong in trade fields yet they're there and doing shitty jobs.

For the record, I dropped out of college and I work a trade job. I make more money than most people with degrees but I'm also on my feet 8+ hours a day sometimes and I'll be broken physically by the time I'm 60. Office jobs you get with degrees aren't so bad. There's pros and cons to both sides. Don't discount college though.

>>18686721
Yeah I know, I said I was going to take a part for my education and my mom and sis. Something like 0.8 million (500k for education 300k for mom)

The other 2 million will all be invested with finantial advisors and a lawyer firm.

I will continue to amass money since I'm 22 but I won't spend a single penny out of those 500k for 4-5 years since I'll be a student full time

That's all, I already decided what to do

In 5 years I'll probably get a 15% return out of those 2 million so It's not like I'm blowing 800k like it's nothing

That's all

>>18686822
Half a million for education is a ton. No degree is worth that much. I would aim for half of that (living expenses and meals included). 300k for your mom is great but I suggest you make her get a financial advisor as well.

I make 100k and I haven't finished my undergrad yet. Degree matters less than you might think.

Good luck

>>18685634
its smart that you invest into a proper degree as money can be lost quickly but education is not. on the other hand do you think 700k is worth the famous uni? i mean you could get a degree from a decent uni for way less.

depends on what you want to do later.

Accountant here.
Seems like you have the right mindset. Spend part of it on future earnings and use the rest of it to make yourself comfortable. Remember that 2 million divided by 50 years is still 40k per year. The tax you pay on that ( depending on country ) should come out of your interest earnings. You dont have the need to ever work again, but you could work to make it a nest egg for your future generation,if you should you ever want kids of your own. Dont ever get married under common law, always seperation of property, or whatever it's called in english.

Do not listen to Americans listing their annual pay and whatnot, those figures are not probable after a college degree anywhere outside of the USA where the living expenses are anything lower than 50k a year.
You do not NEED a financial advisor if you're even a little bit money-savvy. All you need to do is invest in LOW RISK LOW REWARD stocks. Invest it into the most trustworthy company you can find at any interest rate higher than what the bank offers ya