Here is the thing. I would likely spend about $2.5 Million on my significant purchases. I will have $5 Million in investments. This means I will still have $2.5 Million remaining from my windfall. Here is the thing, FDIC only covers $250,000 in insurance if a bank goes belly up. I will need 10 separate bank accounts for me to protect all of my remaining money, and each one of those accounts will need to have regular activity so they don’t go dormant. This is also to assume that my income will be a break even with my expenses. I will almost certainly generate more money than I will spend. This will eventually mean more bank accounts that I would have to micro-manage.
To solve that, I will have a Swiss bank account. All of my spare money will remain in my Swiss account, and I will have to learn how to use spreadsheet software to account for my management of my Swiss account. With that said, I will have the Swiss account exclusively to protect my income, and assets. I will not use this account to try to hide my money from taxes. There will be a paper trail for all of my investments, and since I am not working, I do not have any chance of an under the table job. Therefore, there is no need to hide my money, and I will of course pay my taxes as expected. I will obviously use a tax advisor to assure that I get all of the deductions I qualify for. This account is not to hide any money, but protect my interests.