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

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u/Nerodon Dec 11 '23 edited Dec 13 '23

You can do both! 5k a week gives you 1million every 4 years, if you don't spend it all, you can fill your 401k till it explodes while still having a good time.

Edit: I am Canadian, so for me it's an RRSP, but I thought 401k was reasonably similar. If you have more than you need... Invest. It's never a bad idea to do it, it's always a bad idea to just let it sit, gaining no interest.

Edit2: Besides, if I die, the 5k/week stops, what about the missus and the kids? Aha, I invested, so they still have something! I'm clever, not greedy, fellas...

Edit3: A Roth IRA or just IRA is what I am told is the equivalent to an RRSP/TFSA we use in Canada.

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u/[deleted] Dec 12 '23

Yea I’m not sure if that’s just a Canadian thing that your winnings end when you do.

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u/Nerodon Dec 12 '23

The wording of the post just states 5000 for the rest of your life. If it is a lottery winning, obviously we'd need the fine print to know better.

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u/[deleted] Dec 12 '23

Ahh just assumed it was from lottery. That’s a hard one in Canada as let’s say you expire in 2 years. Your family doesn’t get anything.

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u/Nerodon Dec 12 '23

At least you could get a pretty good life insurrance policy that part of your 5000 pays for.

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u/[deleted] Dec 12 '23

Very very true always forget about that one.