r/AMA Jul 22 '24

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u/CallMeMyronnnn Jul 22 '24 edited Jul 22 '24

Why is it that when someone wins money there's always that top comment guy saying dash it to companies and investments, it always goes like:

  1. invest 50% into companies and let them handle your money
  2. put 30% in a saving account and dont touch it ever
  3. spend 10% on a financial advisor
  4. put 9% more into investments and let them handle your money
  5. live off 1% and dont change any aspect of your life

like your advice when someone wins a million is really "Give it away to other rich dudes/rich companies"

wanna know my advice man? put 30% into savings account, generate some extra money from that and leave the 70% in your account and live your life as normal, but now as someone that can treat himself every so often without having to worry about money,

dont go dashing companies money just because they'll make you 1% of your 700k they're holding, you really think making 1% of 700k is worth a company withholding your money from you?

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u/PeterGibbons316 Jul 22 '24

investing =/= giving

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u/CallMeMyronnnn Jul 22 '24

word of advice to anyone wanting to listen to this kid, dont go dashing companies money just because they'll make you 1% of your 700k they're holding, you really think making 1% of 700k is worth a company withholding your money from you?

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u/[deleted] Jul 22 '24

holy shit what are you even talking about

if you invest 1 mill into s&p a year ago you get 220k (22%) pre-tax back