a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by rinx
rinx  ·  3239 days ago  ·  link  ·    ·  parent  ·  post: Daydreamers of Hubski, the Powerball is up to $1.3 BILLION. What would you do if you won?

I'd keep 10 million for myself. 3 million would go to a home on either coast and a lake. I'd split out plots on the lake and give them to my friends, so we'd all privately own it and I'd build a cute cabin for vacations on my plot. The other 7 million I'd keep, gives me about 200,000 a year to live on.

That leaves about what, 400 million after the lump sum and taxes? I'd spent up to 1 mil of that developing a personal finance course with some fancy professors from Yale. Then I'd give 100 friends and family about 4 million each contingent on them finishing the course .





user-inactivated  ·  3239 days ago  ·  link  ·  

10 million invested in muni bond funds returning 4-5% a year is 400,000-500,000 a year (mostly) tax free. That is .1% territory.

rinx  ·  3239 days ago  ·  link  ·  

I assumed 3% returns, lil bit of a safe margin. Takes me through high inflation years as well as major market events. Not that it matters, this is not a problem I'm going to have to worry about anytime soon.

user-inactivated  ·  3239 days ago  ·  link  ·  

Compound Interest is the most powerful force in the Universe.