The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retire Well on Less

URL:  http://boards.fool.com/win-the-lotteryand-keep-working-28353846.aspx

Subject:  Win the lottery...and keep working? Date:  3/7/2010  6:27 PM
Author:  XMFBuySellBelle Number:  1351 of 1481

I had a terrible epiphany the other night--if I won $4 million in the lottery tomorrow, I'd have to keep working. After taxes, that $4 million would become $2 million...and if I were to put all of it in an interest bearing account at today's measly rates (let's just say 2% for the sake of round numbers), that would get me $40,000 per year--not enough to support my partner and me now, let alone in 25 years post-inflation.

I've never had a high-paying job but have always been very careful with my money, and I always thought that the cushion I've built up would ensure security later. But jeez, if $4 million doesn't even cut the mustard (and believe me, I don't have $4 million saved), how the heck does anyone ever retire??
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us