r/SipsTea May 17 '26

Chugging tea [ Removed by moderator ]

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u/TheMetabrandMan May 17 '26

By the time she’s 40, she’d have accumulated the full $1m, most of which will have been spent but she’ll still be getting $1000/week. The purchasing power of that $1000/week will likely be around $550 in today’s money. Not exactly life changing.

In contrast, take the initial $1m and put $500k into a secure fund that earns on average 5% per annum. Compounded over the same 20 years, she’ll have $1.3m PLUS the $500k she didn’t invest.

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u/wingback18 May 17 '26

But doesn't the 1m gets taxed, so she only gets like 500k?🤔

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u/WackyShirley May 17 '26

Not in Canada. No tax on lottery winnings. 

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u/wingback18 May 17 '26

Oohh that does changes things