The annuities that have been presented to me (I won’t touch them anyhow) have been in the 3s and 4s. If you get 5 you have done well.
Mega Millions - 1 BILLION DOLLARS
- Thread starter ISUCyclones2015
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Typical annuities may be the wrong product, but the average stock market return has been 10%. You could live off the average gains.
You could also easily get into other opportunities like rental properties that are relatively passive but would expect to earn even more.
I've always thought that I would pretty much turn things over to a wealth management firm. Someone to tell me that I don't need a 9R 4 Trax John Deere to mow my lawn.
Well…..that would be a waste of money because you get the best advice here in CF, and it’s free.
If you can average 4% after taxes on your return of a million dollars you are doing very well. While the stock market has averaged almost a 10% return over the last 30 years, it would be difficult to achieve that amount as you are taking money out of the market to live off of.
If I win tonight I will be donating a million dollars to the We Will Collective. I also will be donating how ever much money is necessary for the athletics department to never field a team wearing a yellow jersey ever again.
If I win, I will donate to have yellow jerseys be our main ones.
Yep, after you win just pay cash for your used cars and your hookers and you will be just fine.
That is a question that probably needs to be addressed. If you buy a used car, you could afford higher end hookers, but if you buy a high end new car, you could get some looking for a sugar daddy or sugar momma, that wouldn't cost you for the action. So do you spend the money on the hookers or more for the car?
Also, I only join office pools just in case. Basically paying 4 bucks to make sure I am not the only one sitting in the office come monday.
OOOHHHH, so true. You have made me think a little deeper here. I would buy a Shelby 427. A car that is a beast and will hold value. Basically a one time purchase there.
Median household income in Iowa is only like 60000. So no, plenty of people could continue living their current lifestyle while quitting their job.
They must already own a home
I'll make it simple then, if you already earn more, that's not going to work. Your basic point stands, you can be wise and make even only 1mil last (only as compared to this jackpot).
More good CF financial advice here. Remember kids, cars and hookers are not assets, they are liabilities.
