Choose one: 400k/yr (before taxes) until you turn 65, or a 7 million lump sum (no taxes)

[At30wecashout]

How could you “tax-advantage” the fukk out of the $400k/yr to make it more beneficial than the $7M?

Bruh you saw there was more to that post I came to the conclusion that the only person who might benefit from 400k a year is someone who will spend their last dime every time and having guaranteed yearly income rather than a 1-time lump sum would be beneficial. You can tax defer a lot of 400k but its not beating 7 mil straight up as long as a person lives off of interest.

 

[At30wecashout]

97% of you idiots would blow through a lump sum of $100K, not to talk of $7M



Give me the $400K. I live in a no state income tax state so that helps. Add that in with my existing income and I'd live an incredibly comfortable life. Plus you can actually invest the extra income to have even more money for retirement.

I forgot it's TheColi.com where most of y'all could easily flip $7M into $60M. My bad

When I originally saw this thread, this was my exact thought. Lots of people who get windfalls blow that shyt on things they thought were surefire investments. A bunch of cats on here are going BROKE BROKE in less than a decade. Hell, 5 years maybe.

 

[HabitualChiller]

You're one of the few being honest. Most people will blow the 7 Milly quickly. All that investment talk sounds good until that money is in your account and you see something you want to buy or your mom's, pops, brothers, sisters, grandparents got an issue that they need your money to help fix lol. We see athletes go broke all the time and they're up 10s of millions of dollars. All of them thought it wouldn't happen to them either.

Yeah, I'm a fairly candid dude. My parents raised me to be a generous, courteous kat, so I'd definitely fúck my money up by pampering them and my sisters before I get to chill.

I'd probably spend close to 3M to set them up.

My parents are dog shìt with money, so they'd blow through any money that I give them.

 

[⠀⠀⠀]

you take the 7 million and throw it at all into $SPY OR $VOO

You will be making around a 10% average yearly rate of return. $700,000 a year.

That sounds better than the people taking only 400k Yearly

 

[HabitualChiller]

you take the 7 million and throw it at all into $SPY OR $VOO

You will be making around a 10% average yearly rate of return. $700,000 a year.

That sounds better than the people taking only 400k Yearly

You're forgetting that a lot of kats are broke out here and/or have poor spending habits. Most people don't even know what the fúck those are

 

[KidJSoul]

Yeah 7m

I thought about 400k but then realized it would take almost 20 years to earn 7 million at that right. And that's BEFORE taxes.

With taxes, it'll take like 29 years to earn that money

If you just manage your money well. 7m is the way to go

Like others said, put a couple million in reliable etfs.

 

[NoMoreWhiteWoman2020]

can't you just give us a post-tax number

Don’t know what the tax rates will be in 20 years

 

[NoMoreWhiteWoman2020]

You're forgetting that a lot of kats are broke out here and/or have poor spending habits. Most people don't even know what the fúck those are

If I got 7 million, I’m not handling my finances myself. I’m going to hire the best firm I can to maximize my profits