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| Topic | Scenario: Your son was training to be a doctor when he won the lottery and quit. |
| the_rowan 05/11/23 12:52:33 PM #29: | Explain how $11 million is not actually going to have him set for life after losing half to taxes and 90% of the remainder to inflation over 60 years. If this was a hundred million, sure, but he's going to have to live on around 30k a year in present day dollars to make the money last. I guess you can do that when you're single and on a small property with a modest lifestyle, maybe? Like this might look like a lot of money if you ignore inflation, but inflation REALLY adds up over an entire lifetime. The last 50 years had about 583% cumulative inflation. Making 110k a year after taxes would be great, but 110k eventually starts being worth about the same as today's 20k. --- "That is why war is so tragic. To win means to make victims of your opponents and give birth to hatred." - Kratos Aurion, Tales of Symphonia ... Copied to Clipboard! |
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