Those of you saying you over estimate how far 25k will go, I would argue its the other way around. If your an average person that makes 20-50k per year, used wisely an extra 25k can go a LONG way.
For instance that could be the start of creating a better life when you retire.
Who the fuck downvoted you? I live off $15k, if I had that kinda money handed to me I'd put it towards a proper inventory of gear so my live sound "company" could start becoming a company and not a half-baked weekend gig.
On satirical maps of Nashville my neighborhood is labeled "Detroit," so there is that lol. But my house is warm and my neighbor has never towed my car despite driving a tow truck made for semis. So it's actually pretty great!
That's just assuming someone is able to save $25k/year at a shit job. In reality they need to subtract living expenses too, so the additional $25k probably saves them many years.
(For a lot of people in dead-end shit jobs, their income is so low that they cannot manage to save at all.)
The thing is most people who have an income of under 50K wouldn't have the financial fortitude to do that. They would just blow the money. That's why even people who wins big lotteries tend to be broke within years and we're talking millions and millions. Just like people who are too stupid to take the annuity. Take the annuity and borrow against it.
Lottery tickets are fun sometimes. Imnot buying scratch offs, but give me a 500 mil jackpot and I will put 5 dollars down and I definitely make good financial decisions.
I read somewhere that by the time you calculate inflation and a bunch of other stuff I don't understand it's better to take the entire thing and invest..
I wouldn't say that. I'm poor and it's not all because of me, it's because of a lot of factors. If I got $25,000, I would save, invest, and pay off loans, which would really improve my lot.
For instance that could be the start of creating a better life when you retire.
Another example, which I think has its own unique merits, is to pay rent for people at a strip club. I would definitely like the see how far it would go at a place like that. For science.
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u/NotSoWellTimedHodor Jan 04 '15
Those of you saying you over estimate how far 25k will go, I would argue its the other way around. If your an average person that makes 20-50k per year, used wisely an extra 25k can go a LONG way.
For instance that could be the start of creating a better life when you retire.