Loyal Staff Stays on the Job after Lottery Jackpot Win

Comment #9

dvdiva — Wed, 16 Feb 2005 00:52:35 GMT

They do have socialized health care. As well as a crime problem in London.As for 1 million being enough to retire on you must live in an area with depressed real estate. Half a million is a starting price just for a home in a good school district.

Comment #8

Todd — Tue, 15 Feb 2005 23:35:10 GMT

No tax on lottery prizes in the UK! (And I don't believe they have socialized health care

Comment #7

tonyend — Tue, 15 Feb 2005 23:14:50 GMT

Quote: Originally posted by mrmst on January 26, 2005fwlawrence: The key is IF you generate enough income - at 5% per annum (to keep the principal safe) you would only generate $50,000 per year - not enough to be confortable without working. Don't forget, if you don't work, you will have to pay your own medical benefits - that can get very expensive.Don't they have socialized healthcare in the UK? Also, are lottery winnnings in the UK taxed? All that could make a difference as to wether or not... [ More ]

Comment #6

mrmst — Wed, 26 Jan 2005 15:22:46 GMT

fwlawrence: The key is IF you generate enough income - at 5% per annum (to keep the principal safe) you would only generate $50,000 per year - not enough to be confortable without working. Don't forget, if you don't work, you will have to pay your own medical benefits - that can get very expensive.

Comment #5

fwlawrence — Mon, 24 Jan 2005 22:41:18 GMT

I disagree with dvdiva and mrmst. One million is enough to retire on if you are generating enough income from your investments.

Comment #4

fja — Mon, 24 Jan 2005 21:44:01 GMT

Never ever burn your bridges..............you never know when you might need to cross over again......

Comment #3

mrmst — Mon, 24 Jan 2005 20:22:22 GMT

I agree with dvdiva, I think you need at least 5 million after taxes to be set for life - you may not be in the lap of luxury, but you won't have to work if you don't want to.

Comment #2

dvdiva — Mon, 24 Jan 2005 19:57:11 GMT

A million dollars is not enough to retire on pretax or posttax. It would come closer if you owned your own house and already had money saved up for retirement ( and were close to retirement). For those of us whom don't own a house and are a very long ways from retirement its not even close to the amount needed to quit.

Comment #1

tg636 — Mon, 24 Jan 2005 15:30:27 GMT

Knowing it was going to be the last work order ever must have made it easier to show up to to work.

Loyal Staff Stays on the Job after Lottery Jackpot Win

Lottery Post — Mon, 24 Jan 2005 14:21:00 GMT

A group of 25 factory workers today pledged to finish an important order for their bosses, despite scooping a UK National Lottery jackpot of more than 14 million (US$26.3 million).Each member of the winning syndicate at Gymphlex Sportswear manufacturers netted 577,858.76 (US$1,085,852) in Wednesdays draw.But the group, who make up about a third of the workforce at the firm, were in bright and early the next day to work on an important overseas order.Speaking as they celebrated at the factory i... [ More ]