Ray - It all a matter of perspective.
About 10 years ago, I was making $7.50 an hour, working two jobs, and donating various bodily fluids on a regular basis...and this was just to survive. I remember seeing a job for HTML developers paying (up to) $35k and thinking, "wow, if I could make $35k a year I'd be SET". 10 years later I make more than $35k. Significantly more. For a few years, my wife worked as well and our combined income was well over $100k. We had no kids (our oldest is now 2 1/2). Well, now my wife no longer works (but I still make significantly more than $35k) and still struggle to make ends meet. For those without discipline (like me), and I'd actually argue that for -most-, our quality of living standards are raised proportionately to our income level. Hindsight being 20/20, I kick myself on a daily basis for not handling our finances better (specifically, saving more when the wife was working...well, saving when the wife was working). I can see where I'd be one of those dildos that win $5million and blow it. Hopefully with the experiences I've had, I wouldn't...and I'd learn from my mistakes...but I can certainly see how it happens. On Fri, 28 Jan 2005 12:58:54 -0600, Raymond Camden <[EMAIL PROTECTED]> 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? > > > On Fri, 28 Jan 2005 10:44:26 -0800, Ian Skinner > <[EMAIL PROTECTED]> wrote: > > I suspect after taxes, and who knows what else he won't be a millionaire > > anymore. He'll probably only have eight or nine hundred thousand dollars > > left. But still should be plenty of money to change his life. > > > > Now the question is; will he be stupid or smart with the money. > > > > I find it very interesting how many people who suddenly come into a lot of > > money, via lotteries or what not, are broke again in just a few years. It > > is awfully easy to burn through a large amount of money and suddenly find > > oneself in a financial world of hurt. > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Purchase RoboHelp from House of Fusion, a Macromedia Authorized Affiliate and support the CF community. http://www.houseoffusion.com/banners/view.cfm?bannerid=59 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:145222 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
