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Hashemisreading: Someone who retires after earning about 150 million after taxes is someone who probably won’t stay rich very long. Yeah it’s a lot of money but if their entire lifestyle changes then they’ll need to maintain their wealth by investing properly (which can take years to learn and to build up trustworthy contacts) or by working.
$150M is plenty to live on for generations. The only way a person would have a problem is if they forget that it is a one time windfall and not an annual income amount.
Hashemisreading: Someone who retires after earning about 150 million after taxes is someone who probably won’t stay rich very long
I don’t know what you’re talking about. You could put that $150M into a super-conservative investment that brings in 1% and you’d have $1.5M a year? You can’t lead a lifestyle (even a rich one) on $1.5M/year?
The Wolf
Guys, is it better to take the annuity or the cash option for the jackpot?
And explain why, please.
Either one would be better than what you’ve currently got
Cash option, because you get more up front.
But with the annuity the interest grows tax-free.
OK, so the annuity.
Ah, but with the cash option I can earn a better return than what the annuity pays. So we need to weigh the tradeoff.
Ah, but with the cash option I can earn a better return than what the annuity pays.
OK, so cash option.
We need to analyze and weigh the tradeoff.
OK, so annuity.
@ interjection: Hashemisreading: Someone who retires after earning about 150 million after taxes is someone who probably won’t stay rich very long. Yeah it’s a lot of money but if their entire lifestyle changes then they’ll need to maintain their wealth by investing properly (which can take years to learn and to build up trustworthy contacts) or by working.
Good point!
That depends on how drastically the lifestyle changes.
If you have alot of money it will change your life.
If you live in an apartment and suddenly win the money, you mean to tell me you arent going to buy a decent house . You are going to buy a decent car as well and you will likley eat alot better as well
What if you already live in a decent house and eat well?
You can have a decent house, but still want something nicer
You can live in Borough park and want to live on Bedford Ave
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