If I were Filthy Rich
By DrTriage+90 "Only" $20 Million
Tonight's PowerBall jackpot is/was $20 Million. After lump-sum and taxes you have "only" $5.6 Million in the bank.
For me, it's easy; I'm retired so I'm just more-retired with an additional $2M in my stocks/bonds portfolio. I'd have a million to splurge; a nice car (maybe electric), vet bills, home renovations, a million for a summer place in North Georgia or the Oregon Coast, some trips/cruises, etc.
How does it play out for you?
Recent responses
+45 @StrongAsMeat I could retire comfortably tomorrow with a million and be perfectly happy
+43 @rtrawitzki I mean anything would be awesome but . It’s the same odds if it’s 20 million or a billion so it would always bug me that I didn’t win more . It’s why I think a lot of people only play when it’s above a certain number. 640 million is mine . Which is like 154 million after lump sum and taxes . 100 million is the principle, 40 to a family foundation. The rest to buy some property and wait for long term capital gains to make my first draw . Anything more is gravy . But of course like all of us I won’t win snd this is just a fun thought.
+35 @carrbucks In 2017, my wife inherited $1.7 million. That, in itself, was life changing. We paid $680k for a horse property after selling our existing home (which was mortgage free) for $459k. In 2022 we sold that property for $1.2 million and bought an $840k home and a lake cabin for $380k. We have a combine retirement income of $160k a year...
+23 @Apprehensive-Ad-80 At 5% return, $5M in the bank is $250k/yr… I’d retire faster than you could say “2 weeks notice”
+16 @Terradactyl87 That would solve all of my problems and I could do whatever I want for the rest of my life. I'd pay off debt, invest in an apartment complex for rental income, and then I'd move to probably Spain or Italy. 5 million would be more than enough to live a very happy and comfortable life.
+13 @sonbub \- $600k to pay off all debts plus some major house remodeling \- $500k set aside for each of my two children Leaves me $4 million which, being in my early 40’s and no longer having a mortgage or student loans, should be enough to go ahead and retire.
+13 @FlatLecture I’m Canadian so we don’t pay taxes on lotto winnings. For me, the lump sum is roughly 40% to 50% of the jackpot. So I would get 8-10 million. Half would go to my wife (let’s say 10 million for argument sake) that means 5 million in the bank for me. First would be house hunting. Once we have our place, then chuck the rest of it into the bank and live off the interest. Instant retirement. I would pursue my hobbies, Videogames…CRT Repair…I would just take this time to relax…