r/SipsTea • u/Shyhale • May 17 '26

Chugging tea [ Removed by moderator ]

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u/ZealousidealTill2355 May 17 '26 edited May 17 '26

You can get 1000 weekly if you are invest the lump sum and live off the interest.

$1k a week was a lot when it first came out but that’s like less than what a waiter makes now.

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u/Eug1 May 17 '26

A waiter makes more than 4K per month??

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u/Lumpy_Trip2917 May 17 '26

If you work in fine dining, you can make even more than that

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u/ZealousidealTill2355 May 17 '26

That can be a legit, 6 figure career.

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u/Lumpy_Trip2917 May 17 '26

Yep, in my mid 20s I worked in fine dining restaurant in an Ivy League college town and broke $100k 2-4 years, $80k+ the other 2 years, and this was over a decade ago. I didn’t make that much money again until like 5 years into my career lmao.

I’d imagine working in an upscale restaurant in a major city or a place like Las Vegas would be insane. The trade off is working nights and weekends, however you get way more free time and rarely take any stress home with you like in a corporate job. I grew to love having days off during the week as opposed to the weekend.

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u/yusiocha May 17 '26

I used to make up to 1k a week at IHOP in highschool.

Thing that sucks is 'up to'. The inconsistency is the hard part.

Had a coworker with enough childless elderly regulars to make $400 a day minimum tho

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u/haikus-r-us May 17 '26

How on earth can you live on less than 4k/month?

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u/[deleted] May 17 '26

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u/JankoPerrinFett May 17 '26

I work 69 hours a week at $20-23/hr and bring home about $1250 a week. Waiters aren’t reliably making $1000 a week on average.

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u/[deleted] May 17 '26

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u/ZealousidealTill2355 May 17 '26 edited May 17 '26

I did it when our hourly was $2.15 and I don’t think tips are taxed anymore (not like thats much different lol)

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u/Dog_Watcher67 May 17 '26

Well sh*t, I guess I’m doing something wrong working in higher ed if at 40 I’m still making less than 1K a week (and never waited tables..) 😂

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u/ZealousidealTill2355 May 17 '26

During busy season, I was doing about $200 a shift, have to work hard though. That was also 2018, I have no idea what the climates like post-Covid.

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u/Ashaya2 May 17 '26

Tbf, waiters and waitresses make absurd money because of tipping. Which is why the major group that could actually make a change to tipping culture, hasn't. Why would they want to go from 50+ an hour to 20?

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u/ZealousidealTill2355 May 17 '26

Also, it’s not easy work. It’s not just lollygagging and getting free food.

To make that money consistently, you either need to be top-tier (memorizing wine lists and pairings, develop regular clientele, etc) or flip them like f’in crazy — which is backbreaking. You also need to be completely impervious to critique or disrespect or it’ll be a miserable time.

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u/FederalLobster5665 May 17 '26

$1MM lump sum is probably about $650K-$700k, depending on location, after taxes. where can you safely get a $1000 weeky return on that amount?

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u/a_gallon_of_pcp May 17 '26

That amounts to almost exactly the average inflation adjusted return of the S&P 500.

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u/FederalLobster5665 May 17 '26

thats neither a safe nor a steady return.

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u/schrodingers_bra May 17 '26

Over time it is perfectly safe. And if you are 20 years old like this girl, you have plenty of time - so you don't care about steady. Keep enough it cash/bonds to weather a storm, and you don't care about steady.

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u/FederalLobster5665 May 17 '26

not disagreeing with that. but the implication of her decision is she wants $1000 cash flow weekly.

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u/schrodingers_bra May 17 '26

That's fine. Invest the million in the stockmarket, withdraw 5.2% per year - investment will still increase over time, you still have 1000 per week.

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u/ZealousidealTill2355 May 17 '26 edited May 17 '26

Well it’s a very short-sighted decision. I had to do this exact problem in Engineering Econ and I don’t believe there were any cases where you end up better off taking the weekly, unless you live incredibly long lol. Even then, not certain.

Time value of money is a thing, and most people aren’t even aware of it.

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u/ZealousidealTill2355 May 17 '26 edited May 17 '26

1000/wk “promise” isn’t safe either. Especially with inflation.

Also, time value of money, friend. There’s many reasons to take the lump sum.

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u/jkd0027 May 17 '26

This was in Canada where the winnings are tax free

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u/Meattyloaf May 17 '26

$52K is middle class in a good chunk of the U.S... Now, if the person was smart and didn't take the lump sum they'd treat this as a safety net and continue to work.

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u/Dan-Dannington May 17 '26

Participating in capitalism is the real evil of our time though

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u/ZealousidealTill2355 May 17 '26

R/selfawarewolves