Quote:
Originally posted by Bloodslick
I would basically plan my life so that I never, ever had to work again.
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Ya think?
Just don't hire Mike Tyson as your financial advisor, and you'll have a fair chance.
I would take the lump sum for this reason - the Rule of 72 states that compound interest will double your money in a situation where (time in years) X (interest rate) = 72
The lottery commission is basically doubling your income over 20 years. That's an average interest rate of 3.6%. I think I can do better than 3.6% on my own, thank you.
Of the $10M, I would set aside $5M for me and my family to invest and live large on, and set up an annuity for a N-P foundation to give away the other $5M in a 20-year period..
It's always been a fantasy of mine to be sitting in a diner or somewhere and overhear someone's sincere tale of misfortune, then walk over and write them a check to pay off their house, or medical bills, or whatever. All anonymously. I'm hoping this stems more from a streak of altruism than from a desire for personal power. Hell - I'll use my own $5M for the power trip.
Edited Later: I forgot to add - unlike <b>Bloodslik</b>, I would not quit my job - I enjoy it too much.