You just won the lottery!! $42,000,00.00!!
You taking the lump sum or yearly payments of $1,400,00.00 for 30 years?
5% compounding interest payments annually…
5% compounding interest payments annually…
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ElwoodBlues · M
Lump sum, pay the taxes, invest.
After taxes, should have 25-30 million. Myself and my descendants should enjoy over $600K/yr investment income in perpetuity (assuming a minimal 2.5% return), without ever touching the principal; probably even growing the principal.
If we assume 5% return like the OP does, we're looking at over $1.3 million per year in perpetuity.
After taxes, should have 25-30 million. Myself and my descendants should enjoy over $600K/yr investment income in perpetuity (assuming a minimal 2.5% return), without ever touching the principal; probably even growing the principal.
If we assume 5% return like the OP does, we're looking at over $1.3 million per year in perpetuity.
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Diotrephes · 70-79, M
@ElwoodBlues Do you realize how much money $25,000,000 really is? Suppose you did absolutely nothing with it but put in in a room as cash. You could withdraw $62,500 every month for 400 months, or 33 years and 4 months. That is $750,000 a year for 33 years with $250,000 left over. Remember, that would be pure cash with no taxes.
You won't be able to afford a big yacht or a private jet but you certainly won't starve to death or be homeless.
You won't be able to afford a big yacht or a private jet but you certainly won't starve to death or be homeless.