Questions that need Answers.

ChicagoBlue said:
My wife’s Grandparents won about $780,000, payable in cash money (not over 20 yrs). After taxes, buying two new Cadillacs, completely redoing their house, and living a little “extra” off it for almost a decade in their small Ohio town, they only had a small wedge left when they died, and that eventually got divided up amongst their 4 kids.
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A million doesn’t go as far as you’d think these days, especially with the amount of fucking tax on the interest.
 
BlueHammer85 said:
Do you personally know anyone that's won more than 10k from the Lotto or a Scratch card ?
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Yes, Woman I worked with won £1m on a scratchcard on the way to work..bought one in the shop, won £5, bought another, won £5k, then next box under, got 20x the prize...so won the £1m...went straight home...3 days later, she was back in work because her dept was struggling l. Did it because her manager was really good to her..retired a month later..
 
pizzaman said:
Yes, Woman I worked with won £1m on a scratchcard on the way to work..bought one in the shop, won £5, bought another, won £5k, then next box under, got 20x the prize...so won the £1m...went straight home...3 days later, she was back in work because her dept was struggling l. Did it because her manager was really good to her..retired a month later..
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I might be missing something, but isn't 20 x 5k equal to 100k rather than a million?
 
East Level 2 said:
He still works for the company.
He won when he was in his 30s with 3 young kids. Bought a nice house with the winnings and rented out his old place.
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I suppose it’s all about personal circumstances.

I’m mortgage free, single and childless at 44. I’d take some time off to enjoy the money. New York etc. I’d buy a bigger place and then go back to work on reduced hours after a sabbatical.
 
Semper aggressus said:
A million doesn’t go as far as you’d think these days, especially with the amount of fucking tax on the interest.
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In retirement, $1M equates to about $40-50,000/yr, which can quickly become $25-30,000! It’s what makes a COMPANY PENSION a better deal than a wedge or even a small lottery win! Crazy, huh, that your JOB can ACTUALLY be like winning the lottery!

And, before anyone thinks it, my company pension was taken in my company’s bankruptcy proceedings and, at 40 years of age, I had to start trying to replace it with accelerated savings!

That said, I wouldn’t sniff at a $780,000 lottery win! ;-)
 
ChicagoBlue said:
In retirement, $1M equates to about $40-50,000/yr, which can quickly become $25-30,000! It’s what makes a COMPANY PENSION a better deal than a wedge or even a small lottery win! Crazy, huh, that your JOB can ACTUALLY be like winning the lottery!

And, before anyone thinks it, my company pension was taken in my company’s bankruptcy proceedings and, at 40 years of age, I had to start trying to replace it with accelerated savings!

That said, I wouldn’t sniff at a $780,000 lottery win! ;-)
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Best way I found is invest in US Govt bonds. Decent enough return without the risk level of some other funds.
 
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