Thread: Silliness So what are you doing RIGHT NOW?
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Old 02-28-2010, 08:22 PM   #11782
WT Sharpe
Bah, humbug!
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Quote:
Originally Posted by lilac_jive View Post
I'm watching a marathon of some show on lottery winners. I'm so absorbed I forgot The Stand started at five. Some of these people are smart with their money, but too many are complete idiots. One family won 2.5 million, and went off and bought five trucks, and even a Mustang for their 15 year old daughter who didn't have a license. 2.5 really isn't a lot of money, and you just blew 200 grand on an asset that is going to significantly depreciate? D'oh.
$2.5 million spread out over 20 years with no taxes taken out is $125,000/year. Not a bad salary in 2010, but from 1980 to 2000, wages in the U.S. increased well over 250%. If that trend holds, by 2030, these folks, assuming they retire with their winnings, will be behind the curve, even if they never pay a penny in tax on that money.

And, of course, in the real world, you gotta' render unto Caesar!

Rather than five trucks and a Mustang, these folks should have hired a high school tutor to teach them some basic math skills.
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