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wander73

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Philadelphia, PA
United States
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March 24, 2014
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Mar 29, 2017, 2:48 pm

Quote: Originally posted by noise-gate on Mar 28, 2017
Or would it have to be a great deal higher in order for you to " walk away from it all?"

*Have a great rest of the week people and stay healthy while you at it!

If I were hit the million I would definitely go to the accountant lawyer and financial planner just to find out at different options after the taxes taken out and go from there. When my father was alive didn't quite understand about the current economic situation with the jobs out there.

What I would do is I would get sewing going on Amazon I would keep up my search engine my personal site and maybe have one or two people help me out depending on situation.

I look at IRA and mutual funds and decide if that's what they're for me
EdG1955

Marana AZ
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August 3, 2013
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Mar 29, 2017, 3:32 pm

Would that be $1 million cash? Or an annuity? If cash, that's about $550,000 after taxes. A 20 year annuity would be $50,000 per year. Since I'm 61 and less than a year away from Social Security, I could retire on either one.
GiveFive

Florida - West Coast
United States
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June 10, 2010
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Apr 1, 2017, 8:58 pm

Nah. I cant even see myself retiring with the money I've already saved! G5

Play Smart!
tkr333

United States
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June 13, 2005
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Apr 1, 2017, 9:14 pm

I guess a whole lot of it would depend on your cost of living. For me i could do it on a whole lot less. Got a buddy that won a million a couple years ago. He still wont quit says he has to have health insurance.
lottolaughs

Sunny California
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May 31, 2006
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Apr 1, 2017, 9:26 pm

In California? Ha. What is a million dollars? After taxes it would be much less. It all depends on your age and,like tkr said, cost of living. I'd say about 5 mil and then I could retire with no worries.
Coin Toss

Zeta Reticuli Star System
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January 17, 2006
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Apr 2, 2017, 2:03 am

Interesting read from Money magazine;

Is 1 million still enough to retire on?

https://www.yahoo.com/finance/news/1-million-still-enough-retire-200619378.html

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
hearsetrax

United States
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May 21, 2007
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Apr 2, 2017, 11:15 am

Quote: Originally posted by Coin Toss on Apr 2, 2017
Interesting read from Money magazine;

Is 1 million still enough to retire on?

https://www.yahoo.com/finance/news/1-million-still-enough-retire-200619378.html

curious article,but not much of a surprise I'd reckon
rcbbuckeye

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Texas
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October 23, 2007
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Apr 2, 2017, 11:29 am

When I'm 66 and if I have no mortgage or debt, my wife and I could get by with that and SS.

But.....at this time having no mortgage in 3 or 4 years is not on the horizon. We just may end up selling the house and cashing out then rent a condo or apartment. The advantage is no property taxes or upkeep on the house.

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)
noise-gate

* In hot pursuit of $ *

White Shores- California
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Apr 6, 2017, 5:24 pm

Quote: Originally posted by rcbbuckeye on Apr 2, 2017
When I'm 66 and if I have no mortgage or debt, my wife and I could get by with that and SS.

But.....at this time having no mortgage in 3 or 4 years is not on the horizon. We just may end up selling the house and cashing out then rent a condo or apartment. The advantage is no property taxes or upkeep on the house.

Someone down South bagged a cool $2 mil in the PB category last night. If the winner is in their 70-80's, home paid off a long time ago and are frugal enough - it's plain sailing.l guess at that age it's safe to say that they not going to be feeding their nostrils or shooting up. Then again the winner could be someone with a few nose rings.You just never know.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
rcbbuckeye

100

Texas
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October 23, 2007
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Apr 6, 2017, 5:42 pm

Quote: Originally posted by noise-gate on Apr 6, 2017
Someone down South bagged a cool $2 mil in the PB category last night. If the winner is in their 70-80's, home paid off a long time ago and are frugal enough - it's plain sailing.l guess at that age it's safe to say that they not going to be feeding their nostrils or shooting up. Then again the winner could be someone with a few nose rings.You just never know.

USAMega said there was a second prize winner in CA who won $2,469,064. And one in PA for a million.

The parimutuel paid off in CA that time.

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)
music*

Fresno, California
United States
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August 2, 2014
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Apr 6, 2017, 5:53 pm

Quote: Originally posted by wander73 on Mar 29, 2017
If I were hit the million I would definitely go to the accountant lawyer and financial planner just to find out at different options after the taxes taken out and go from there. When my father was alive didn't quite understand about the current economic situation with the jobs out there.

What I would do is I would get sewing going on Amazon I would keep up my search engine my personal site and maybe have one or two people help me out depending on situation.

I look at IRA and mutual funds and decide if that's what they're for me

mutual funds? I believe that there is one billionaire on the Forbes Top 400 richest who made his fortune from mutual funds. He/She owned the company that sold the funds not by investing in them. I hope you understand how they are taxed. You will need a CPA.

A good mutual fund will not go up as high as a stock and will not go as low as a stock would.

Are you ready for all the fees?

I am at the age where I do not have the time left for gains to be made over a twenty or thirty year time frame.

I will be investing in CDARS and ICS. www.cdars.com

Good Luck!

"We are all in this together!"
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
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December 12, 2012
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Apr 6, 2017, 6:08 pm

Quote: Originally posted by rcbbuckeye on Apr 6, 2017
USAMega said there was a second prize winner in CA who won $2,469,064. And one in PA for a million.

The parimutuel paid off in CA that time.

Yeah rcb, that's what I meant. Out here on the West Coast if we say " down south " it means " Southern California" If we say THE South well that's a no brainer. Arnold was governor when the State adopted the Parimutuel thingy. What's Kinda funny is that we have had the heart of the sex industry in LA for decades yet PB took a long time getting to CA.Go figure.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
rcbbuckeye

100

Texas
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October 23, 2007
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Apr 6, 2017, 8:09 pm

Quote: Originally posted by noise-gate on Apr 6, 2017
Yeah rcb, that's what I meant. Out here on the West Coast if we say " down south " it means " Southern California" If we say THE South well that's a no brainer. Arnold was governor when the State adopted the Parimutuel thingy. What's Kinda funny is that we have had the heart of the sex industry in LA for decades yet PB took a long time getting to CA.Go figure.

Yeah. LOL. As soon as I clicked reply it hit me that you were referring to "down south" California.

I guess they don't mind people getting hooked on porn, but heaven forbid they get hooked on gambling!

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)
weshar75

Mcminnville, Oregon
United States
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December 13, 2003
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Apr 6, 2017, 11:23 pm

I could be debt free and my mother debt free and a new car and that would give me piece of mind.-weshar75
grwurston

100

Same #'s. Different games.

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April 24, 2010
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Apr 7, 2017, 12:03 am

Quote: Originally posted by weshar75 on Apr 6, 2017
I could be debt free and my mother debt free and a new car and that would give me piece of mind.-weshar75

If I hit for a million I'd put in for my retirement as soon as the check cleared.

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