LogFAQs > #973424310

UnfairRepresent posted...

You're awful witth money if you can't make 11 million last a life time.

The median U.S. income in 2021 was $69,717.

You'd have to work for 100 years to get 11 million.

You don't understand how inflation works if you think about 7-8 million (because the 11 million is pre-tax) will last a lifetime. It's worth about a tenth of that by the time you die. Since it's an annuity that pays out 11 million after interest (this is how lottery jackpots are described), you're even getting significantly less than that in present-day dollars, although that's irrelevant with the assumption that he's not investing the money.

Your median household income there (that is household, not individual) has gone up 27,000 dollars since 2000, btw, yet the actual buying power of the median household has decreased. You cannot say "this number would be a good income by today's standard, so you're set for life" because you need to make double the money to achieve the same standard of living every 25 years or so.

Again, this is assuming that he doesn't just invest the early money. If he invests it to protect against inflation and lives off the earnings, there's absolutely no issues, and he'll live a great life, not quite top 1%, but really really well off. I'm just saying that the actual raw amount of money, as the only money you make in your life, really isn't that much.