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re: If you win the lottery, are you quitting your job and how many people are you telling?

Posted on 1/14/25 at 5:03 pm to
Posted by Vincenzo Pantangelli
Member since Nov 2024
1410 posts
Posted on 1/14/25 at 5:03 pm to
You have a better chance of getting myocarditis after taking the clot shot then you do of winning the lottery.
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
130459 posts
Posted on 1/14/25 at 5:13 pm to
Quitting my job, telling no one. But there will be signs.
Posted by Oystaeata
Member since Jan 2025
20 posts
Posted on 1/14/25 at 5:17 pm to
Retired so no need to quit, tell nobody except my former coworkers will know. I told them I’m gonna buy an 18 wheeler of peppermints and have them unloaded in the office. Just to keep their candy jars full.
Posted by Ponchy Tiger
Ponchatoula
Member since Aug 2004
47695 posts
Posted on 1/14/25 at 5:19 pm to
Not quitting, they will fire me when I disappear off the face of the earth. I will cut contact with everyone except one person, until I claim my winnings.
Posted by fallguy_1978
Best States #50
Member since Feb 2018
51787 posts
Posted on 1/14/25 at 5:28 pm to
quote:

$10mm and i'll have a great life but i'm going to still work my day to day, albeit a bit more swaggy.

I'd never work again if I won $10 million, even after taxes
Posted by ExtraGravy
Member since Nov 2018
908 posts
Posted on 1/14/25 at 5:28 pm to
quote:

I'd quit right now if I got a $2 million lump sum and never work again.


Interesting- $2m would be about $1m after taxes though.

I'm thinking about this just as a thought experiment.
How old are you, and do you have kids to put through school, other bills?
$1m lump sum wouldn't be enough for most people to quit working and never work again, unless you were nearly ready to retire anyway. Like, someone in their 30s could never do that.

Assuming you meant a lump sum that leaves you with $2m in cash, if you put all of that in an index fund in the stock market, a typical return (assuming no down year) would get you what, 100k a year to 150? If you're willing to live very modestly, you could live off of your $2m for a long time. Still, you're better off working for 5 or 6 more years at least, letting your returns compound and not touching them.

Now, if you've got about $5m socked away in an index fund that tracks the market, that's a very healthy low to mid 6 figure return you could expect in most years from your cash.
Posted by ExtraGravy
Member since Nov 2018
908 posts
Posted on 1/14/25 at 5:34 pm to
quote:

I currently have an employee than won a $3.2 MM Texas lottery scratch off ticket in 2020. They took the lump sum instead of annuity & recently a built a much larger house. She's in her early 40's with 3 kids & has no interest in quitting her job.


And that's very smart. That wasn't enough money for her to stop working. Sounds like they saved / invested their money, including building a nice house that should rise in value. That will be a really big boost to their family- should make it way easier to plan for their kids' education, the parents' retirement, and maybe one day something nice to leave to their children when they are gone.
Posted by Tantal
Member since Sep 2012
17734 posts
Posted on 1/14/25 at 5:38 pm to
I'm just quietly retiring and not telling anyone. If my ex-wife knew of such a windfall, she'd make up some bullshite to try to get custody of our son strictly for the child support. I live in a comfortable house and drive a truck that I like as-is. No need to go showing off my money.
Posted by tigerfoot
Alexandria
Member since Sep 2006
59062 posts
Posted on 1/14/25 at 5:41 pm to
I’d be done as quick as I could sign my company over to my partner
Posted by dstone12
Texan
Member since Jan 2007
35597 posts
Posted on 1/14/25 at 5:41 pm to
Funny this thread just popped up for me.

I just spoke to a guy that says he is able to make better predictions on hand – field lottery tickets

He is a math guy from Canada and says that he is marketing his prediction to certain websites. He will give out the numbers for free in order to better advertise for the websites.
Posted by Cleary Rebels
Member since Oct 2024
2899 posts
Posted on 1/14/25 at 5:50 pm to
See ya bud - life is more than work
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