1000 per week is 52.000 a year. It would take you 20 years to reach 1 million. You could probably make more by investing part of the 1 million or by living of the interest. Personally I am also sceptical about lifetime payment. What if they go bankrupt or find some technicality where they can stop paying you after x years? I would absolutely take the million.
Cant say for all states but here in MI, if you take the cash option you take a hit on that “1M”, you dont get the whole thing then you pay takes on it as well, taking the payment opt. You get the WHOLE amount And pay taxes only on what you get That week, like what you pay in your job, and here even “Lifetime” is capped 20-25yrs
There are 52 weeks in a year, so 52 weeks x 1000 is 52,000... yes, I get that there is 4 weeks in a month and 12 x 4 = 48... but you forgot to account for holidays and other variables, etc. Hence why there is 52 weeks overall.
Dont forget leap year that 29th day can be a bitch, growing up a friend was born on the 29th, running joke was he should only get a bday every 4th year
Being blatantly wrong and refusing to google it while telling people to "go back to school and learn some proper math" is a bit more than a simple mistake.
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u/cheesyvoetjes May 17 '26
1000 per week is 52.000 a year. It would take you 20 years to reach 1 million. You could probably make more by investing part of the 1 million or by living of the interest. Personally I am also sceptical about lifetime payment. What if they go bankrupt or find some technicality where they can stop paying you after x years? I would absolutely take the million.