Quote:
Originally Posted by jwick
30% my ***. You’d be lucky to get 55% of the total. There’s no reason to not spend some of it. Say you take home $100MM. I’d be done with my impulse spending before I ever hit $10MM. Therefore; you still have $90MM to sit and live off the interest. At a reasonable interest rate, say 3%, and taxes you’d have probably $2MM a year to live off of and never touch the rest of the money.
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Yeah, after taking the lump sum and taxes, you end up with less than 50%. Financial planners say to splurge like 5% of your winnings to get that impluse spending out of your system.