- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
I bought a lottery ticket on a whim, yesterday - updated..
Posted on 2/23/17 at 7:58 pm
Posted on 2/23/17 at 7:58 pm
The Megabucks jackpot was 5 million bucks, and no, I didn't win.
I got to thinking: if I won, the state takes half if I take a lump sum. That leaves me with 2.5 million bucks before taxes. I figure I'd have 1.3 - 1.4 mil acfter taxes.
Can you retire on that?
ETA: if you take the annual payments, that's $167,000 a year, before taxes, for 30 years.
Now, can you retire and live off that?
I got to thinking: if I won, the state takes half if I take a lump sum. That leaves me with 2.5 million bucks before taxes. I figure I'd have 1.3 - 1.4 mil acfter taxes.
Can you retire on that?
ETA: if you take the annual payments, that's $167,000 a year, before taxes, for 30 years.
Now, can you retire and live off that?
This post was edited on 2/24/17 at 9:48 am
30
Posted on 2/23/17 at 7:58 pm to Jax-Tiger
Never bought one in my life.
Posted on 2/23/17 at 7:58 pm to Jax-Tiger
If you don't act like an a-hole
Posted on 2/23/17 at 8:01 pm to Jax-Tiger
If you invest it all today, that's 50-60k a year in conservative investments returns
Posted on 2/23/17 at 8:02 pm to Jax-Tiger
No
Posted on 2/23/17 at 8:02 pm to Jax-Tiger
Yes, if you invest it properly. You definitely couldn't live very lavishly.
Posted on 2/23/17 at 8:02 pm to Jax-Tiger
quote:
I figure I'd have 1.3 - 1.4 mil acfter taxes.
Can you retire on that?
Easily.
Posted on 2/23/17 at 8:02 pm to Jax-Tiger
Hell no.
Posted on 2/23/17 at 8:04 pm to Jax-Tiger
I'd invest in weed stocks and Bitcoin
Posted on 2/23/17 at 8:05 pm to Jax-Tiger
quote:
the state takes half if I take a lump sum.
State doesn't take it. You won an annuity paid over time. Present value is roughly half.
Do you get to chose lump or Annuity? Maybe you could sell it to someone else for a better rate.
Posted on 2/23/17 at 8:08 pm to Jax-Tiger
April 20, 2001, I got four numbers and the powerball. My other number was a 16 and the winning last number was an 18. The jackpot was 58M. The difference between $5,000 and 58M at that time in my life most definitely saved my life.
I blew through that 5 grand like a bus load of figs at the ripe age of 23 years old. God knew better than to give me that much money st that time.
I blew through that 5 grand like a bus load of figs at the ripe age of 23 years old. God knew better than to give me that much money st that time.
Posted on 2/23/17 at 8:09 pm to Jax-Tiger
I'd lay ex celebs to fight MMA and ppv / YouTube that shut.
Corey vs Corey winner take all
Inxs vs Duran Duran steel cage
Etc
Etc
Corey vs Corey winner take all
Inxs vs Duran Duran steel cage
Etc
Etc
Posted on 2/23/17 at 8:09 pm to Jax-Tiger
quote:
Can you retire on that?
I could...but I am pretty old and have saved aggressively for years.
if you are young, you don't know what the future state of healthcare or social security will be, so you would have to keep at it for another few years.
Posted on 2/23/17 at 8:11 pm to Spankum
If I won that I'd stick it in the market, never touch it and farm for the next 40 years 
This post was edited on 2/23/17 at 8:11 pm
Posted on 2/23/17 at 8:11 pm to Jax-Tiger
If you're going to invest it and live off the gains, why not just take the annuity?
Posted on 2/23/17 at 8:14 pm to Jax-Tiger
No, I would need more than that to retire right now.
Posted on 2/23/17 at 8:21 pm to Jax-Tiger
quote:lol
Can you retire on that?
Posted on 2/23/17 at 8:24 pm to Jax-Tiger
I could invest it conservatively and live like a king in South America. Thats me. Most people couldnt retire on it because they are stupid.
Posted on 2/23/17 at 8:33 pm to Jax-Tiger
Me?
No
But I'm sure it's possible for most considering the median household income is less than 50k
No
But I'm sure it's possible for most considering the median household income is less than 50k
Posted on 2/23/17 at 8:37 pm to 4LSU2
quote:
I blew through that 5 grand like a bus load of figs at the ripe age of 23 years old.
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News