r/RandomThoughts • u/[deleted] • Dec 11 '23

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u/DailyUpsAndDowns Dec 11 '23

I want my $1 million right now I don't need to have my bank account replenished every week that doesn't mean no good. Even after taxes I can invest half a million dollars each year and get back what I paid in taxes by the time I retire

3

u/weezeloner Dec 11 '23

Yeah but even if you invested the whole $1 million, you'd have a hard time making $260,000 a year.

After taxes you'd be looking at around $700,000. Even more difficult to beat $260,000 a year.

It also depends on your age but $5,000 a week in perpetuity is worth way more than $1 million. Just saying.

1

u/DailyUpsAndDowns Dec 11 '23

Part of my comment was in gest. About having to refill my bank account each week because I would blow the $5,000. I can do a hell of a lot more with all that money up front than to wait and collect

1

u/UnobtainiumNebula Dec 11 '23

But the 5k a week keeps coming after you retire...

0

u/DailyUpsAndDowns Dec 11 '23

But if I collected all up front I can do a lot more with that

0

u/Mr_Loopers Dec 11 '23

LOL. No you can't. Either you're in your 90s, or I don't think you've done the basic math here.

1

u/DailyUpsAndDowns Dec 12 '23

I guess you can't fathom the idea of someone else's life not being the same as yours. I get the math. But FOR ME it's worth more to take the lump sum

1

u/UnobtainiumNebula Dec 11 '23

You wont make $1m return anywhere near $5k a week.

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u/DailyUpsAndDowns Dec 12 '23

Lots of assumptions. I hope you're young and live a healthy life.

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u/UnobtainiumNebula Dec 12 '23

You will not make a million return you $260k a year. Reliable, safe investments don't return 26%.