Raymond Camden wrote: > That's one thing I never figured out - how folks can go broke after > winning millions. If I understand right... and I may not... a normal > treasury bill pays what.... 5% or so? That would mean a "small" > lottery winning of 2 million dollars could generate 100k in interest. > Taxes would take a third I think, leaving you with like 66k per year. > That's a lot more than most folks make. If you don't quit your job, > and you earn 50k - your now earning a 6 figure salary. > > If you win 5 million - it would be 250k before taxes, which would be > over 100k a year. That is an insane amount of money to live with - > live NICELY with. Why would you even bother touching the principle? >
People go broke because costs really start to add up. One Porche already eats up 100K+. Plus, people always forget to account for inflation. 3% isn't much. But 3% on 1M is substantial. I'm trying to remember the line from Jurassic Park. The math guy, played by Jeff Goldblum, talks about not earning the right because you don't have the discipline or something. -- 2004 - The year $184M couldn't buy a pennant. Ron Artest: Extremely flawed, very accidental, semi-martyr ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:145221 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
