I suggest not to.
First, after taxes, 50 million will net you 40 million. Don’t think about financial management; you don’t have that ability. If you turned 5 million into 40 million through stock trading or other means after many years of hard work, then I believe you have the ability to turn 40 million into 60 million, 80 million, or even if you lose, it won’t be too bad. But this unexpected windfall, with no financial management experience, investing it will just be giving away money.
Okay, deposit in the bank. I don't recommend the big four banks due to low interest; for such a large sum, I also don't recommend small banks. Just deposit in Shanghai Pudong Development Bank, and negotiating for an annualized rate of 5% should not be a problem. Split it into 5 deposits. Deposit 8 million a year for 5 years in a fixed term.
Start counting from January 1, 2024.
In the first year, deposit 8 million (interest can be withdrawn in the 6th year, 2029), and leave 32 million in Yu’e Bao. Don’t mention limits; Shanghai Pudong Development Bank allows daily deposits of 500,000, and by opening a few more bank cards, you can deposit it within a week or two.
In the second year, the annualized return on Yu’e Bao is 2%. Although it is compounded daily, I calculated that 2% x 365 = 1.00005479, and its 365th power is about 2.2%. Let's assume an annualized rate of 2.1%. Upon receiving 672,000, this money can be spent freely from your bank card and does not earn interest.
In the 3rd year, deposit another 8 million and receive interest of 24 million x 2.1% = 504,000.
In the 4th year, deposit another 8 million and receive 336,000 in Yu’e Bao interest.
In the 5th year, deposit another 8 million and receive 168,000 in Yu’e Bao interest.
At this point, total income for 4 years is 1,680,000, with an annual income of 420,000.
Okay, starting from the 6th year, that is 2029, you will receive the first year’s 8 million principal + 2 million interest (because this money has been saved for 5 years). In each subsequent year, until you leave this world, you will receive 10 million. Annual income of 2 million.
I don't know if you have a job now, but regardless of whether you do or not, you can stop working.
And don’t let your family know that you are unemployed; instead, let them know that your annual salary is 300,000 when you actually earn 420,000. In the 6th year, when you can receive 2 million in interest each year, let them know that your annual salary is only 1 million.
Of course, you can take out 100,000 or 200,000 each year to honor them. They will feel that you are successful in your career and that raising you was worthwhile, and they will appreciate your filial piety. If any relatives come to borrow money, you can lend a small amount to give your parents some face.
However, if you directly tell them you won tens of millions, I can only tell you that you are really naive.
By the way, every year pay full insurance for your parents and yourself—accidental insurance, health insurance, and pension insurance. Make sure everything is fully paid. It will be useful.
Pension insurance can combat inflation. In case one day you have some brain issues and lose all your money, you won't end up eating dirt.
