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At what jackpot will you continue or quit working?

Topic closed. 68 replies. Last post 9 years ago by psykomo.

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What jackpot win is your cutoff to quit working all together?

$1,000,000 [ 16 ]  [16.33%]
$5,000,000 [ 21 ]  [21.43%]
$10,000,000 [ 9 ]  [9.18%]
$15,000,000 [ 4 ]  [4.08%]
$25,000,000 [ 5 ]  [5.10%]
$50,000,000 [ 6 ]  [6.12%]
$100,000,000 [ 6 ]  [6.12%]
Never! I will always work! [ 14 ]  [14.29%]
Never! Managing my investments is my new job! [ 10 ]  [10.20%]
Any amount because I never want to work again! [ 7 ]  [7.14%]
Total Valid Votes [ 98 ]  
Discarded Votes [ 3 ]  
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Republic of Texas
United States
Member #57557
January 9, 2008
1095 Posts
Offline
Posted: April 12, 2008, 1:29 pm - IP Logged

Consider your answer as if you take the cash payout (assume 60% of the jackpot), regardless of what taxes you pay or avoid.

Explain what factors lead you to this choice - your age, family considerations, etc.

Have fun!

face

singlewinnersinglewinnersinglewinner   

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
    Member #9
    March 24, 2001
    19903 Posts
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    Posted: April 12, 2008, 1:57 pm - IP Logged

    I'm retired and only work at winning a lottery jackpot.  If I win a jackpot (any size) I will continue working at winning another one because it's entertaining.

     * you don't need to buy more tickets, just buy a winning ticket * 
       
                 Evil Looking       

      JustFrozen's avatar - scenery water_mountains.jpg
      OC, CALI
      United States
      Member #59564
      March 19, 2008
      76 Posts
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      Posted: April 12, 2008, 3:33 pm - IP Logged

      Even with all that money, I'm betting I'd find myself far too bored to refrain from working. Plus some of my biggest dreams in life are work related

        lotterybraker's avatar - pyramid
        mississippi
        United States
        Member #34478
        March 3, 2006
        5906 Posts
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        Posted: April 12, 2008, 3:46 pm - IP Logged

        I'm retired and only work at winning a lottery jackpot.  If I win a jackpot (any size) I will continue working at winning another one because it's entertaining.

        If I ever win  say 5 mil plus..I am dumping all my numerical knowledge on the public..but being that I hardly EVER play the big games the liklihood of that ever happening is slim..

         

        it is such a rush to hunt this stuff up....especially if it comes up..hahaha

        "Attention all Mathematicians: Check your degree at the door because when it comes to whole numbers you are the Amateur"

          Pogo's avatar - wfl
          NC
          United States
          Member #29378
          January 1, 2006
          552 Posts
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          Posted: April 12, 2008, 4:05 pm - IP Logged

          I think about $5 million would do it - invest it all wisely... And after a few fun things here and there - not much... I would start my own small business, helping where I can along the way. Pogo

            ThatScaryChick's avatar - x1MqPuM
            Idaho
            United States
            Member #56506
            November 21, 2007
            6537 Posts
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            Posted: April 12, 2008, 4:43 pm - IP Logged

            I would say a $1,000,000 to $5,000,000. I would invest a good amount and try living off the interest.

            "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

              Avatar
              New Member
              Plainfield, IL
              United States
              Member #20047
              August 10, 2005
              10 Posts
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              Posted: April 12, 2008, 5:17 pm - IP Logged

              $1,000,000 cash would let me live my current lifestyle without working.  I wouldn't get to do anything exciting, but not working would be pretty great.

              [This Space For Sale]

                DC81's avatar - batman39
                MI
                United States
                Member #54830
                August 31, 2007
                985 Posts
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                Posted: April 12, 2008, 5:31 pm - IP Logged

                I accidentally checked the wrong "Never" and can't fix it but I meant to choose "Never! Managing my investments is my new job!"


                Of course it depends on how much the win is (and who or what I could afford to work with) but if it's a huge amount like 50M+ after taking the cash option and taxes I'd spend at least a few hours a week going over things with my financial adviser(s) either in person or online via video conferencing just to see where everything is and where to go. Then there's the overseeing and reviewing every transaction and paying the bills myself or at least having a copy of them so I know exactly where everything is. The more it is the more that can be done and the uhh "scale" of the operation. If it's only 1M obviously it's going to be a solo and smaller operation, I'd probably keep working since it'd be better to have more income to rely on.

                You can't predict random.

                  Coin Toss's avatar - shape barbed.jpg
                  Zeta Reticuli Star System
                  United States
                  Member #30470
                  January 17, 2006
                  10392 Posts
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                  Posted: April 12, 2008, 6:23 pm - IP Logged

                  This question isn't as easy to answer as it would seem.

                  During the 1950's and 1960's the self-help and financial books used to talk about "if you could maake $12,000 a year you'd be sitting pretty good".

                  Sounds silly now, doesn't it?

                  The answer would depend largely on what your monthly "nut" is (expenses), your age, and your ability to really distinguish between wants and needs.

                  As we've seen on the lotterey documentaires, buying a nice car probably makes sense- buying 20 of them is ridiculous.

                  Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                  Lep

                  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.

                    tntea's avatar - Lottery-059.jpg

                    United States
                    Member #5344
                    June 30, 2004
                    23641 Posts
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                    Posted: April 12, 2008, 8:27 pm - IP Logged

                    I'm retired and only work at winning a lottery jackpot.  If I win a jackpot (any size) I will continue working at winning another one because it's entertaining.

                    Wink that's the spirit.  You can work on this most anywhere...  Just take along the lap top and travel here and there as you work.

                         OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

                      tntea's avatar - Lottery-059.jpg

                      United States
                      Member #5344
                      June 30, 2004
                      23641 Posts
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                      Posted: April 12, 2008, 8:29 pm - IP Logged

                      This question isn't as easy to answer as it would seem.

                      During the 1950's and 1960's the self-help and financial books used to talk about "if you could maake $12,000 a year you'd be sitting pretty good".

                      Sounds silly now, doesn't it?

                      The answer would depend largely on what your monthly "nut" is (expenses), your age, and your ability to really distinguish between wants and needs.

                      As we've seen on the lotterey documentaires, buying a nice car probably makes sense- buying 20 of them is ridiculous.

                      Yeah.. who needs 20... You only have one rump.

                       

                       

                      I use to maintain two riding lawn motors for our lawn.   I just couldn't find another butt to put on the second when I was on the first.  When one kicked the bucket, I just decided to stay with one.

                           OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

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                        NASHVILLE, TENN
                        United States
                        Member #33372
                        February 20, 2006
                        1044 Posts
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                        Posted: April 12, 2008, 9:09 pm - IP Logged

                        I'm retired and only work at winning a lottery jackpot.  If I win a jackpot (any size) I will continue working at winning another one because it's entertaining.

                        Since I can find no way to say what I feel better than what RJOH wrote, I must content myself with agreeing fully.

                          RJOh's avatar - chipmunk
                          mid-Ohio
                          United States
                          Member #9
                          March 24, 2001
                          19903 Posts
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                          Posted: April 12, 2008, 11:33 pm - IP Logged

                          If I ever win  say 5 mil plus..I am dumping all my numerical knowledge on the public..but being that I hardly EVER play the big games the liklihood of that ever happening is slim..

                           

                          it is such a rush to hunt this stuff up....especially if it comes up..hahaha

                          Will all your numerical knowledge be dumped on the public in the form of an e-book or a computer program? 

                          I've been using a program that I've constantly added features as I've thought of them but I think I would want to win a second jackpot before I gave it to the public just to be sure it really did work.

                           * you don't need to buy more tickets, just buy a winning ticket * 
                             
                                       Evil Looking       

                            Avatar

                            Honduras
                            Member #20982
                            August 29, 2005
                            4715 Posts
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                            Posted: April 13, 2008, 12:32 am - IP Logged

                            It depends and also you haven't ask the question whether the job that people currently got is exciting and they enjoy it very much...You know one job that i did enjoy it and i will do it again and it they only paid me better like 1600 dollars a month i will be already working there is MacDonald/BurgerKing and Krystal (krystal been like BurgerKing/Macdonald)....The job was wonderful and what i enjoy from that job is that i was able to talk to my comnrades/mates...The only problem is that they got teenagers working in those places, is considered a teenager job...

                            If i was working construction or been a mechanic a job i will not want to do for nothing, and i won 3 million dollars i will quit and if i needed to work i will work at Burgerking/Macdonald provided they gave me good retirements...I don't know how the retirement thing works...

                            If i won 1 million dollars i will continue to work...If i won 2 million dollars i will quit, place the 2 million in the bank and take 50,000 for me as my salary and the other 50,000 i will make a downpayment on each of my brothers and sister's houses each year and cousins....I don't even need 50,000 for me, i'll need like 35,000 to 40,000 for me...And since the houses cost around 110,000 to 130,000 around Columbus, Georgia, i will pay half and have the job cut off for my brothers and sisters and cousins...With 35,000 a year in 2 years i can get me a nice looking house here in Panama...Go to the State visit and stay at a rental apartment, with those 35,000 to 40,000 a year go back to college and plan to retire in college with 20 degrees, 10PHDs, while at the same time i buy my relatives in Panama houses every 2 years...Jee what a happy life...LOL...

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                              New Member
                              Orlando
                              United States
                              Member #60307
                              April 13, 2008
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                              Posted: April 13, 2008, 11:54 am - IP Logged

                              I would stop working for someone else and do my own

                              thing. Isn't that the dream to not have to listen to some

                              Jerkoff anymore. Instead you can be that Jerkoff.