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#165 - psykobear (03/10/2014) [-]
Well, 192 dollars a week. But that's for every percent of interest. But I don't have a savings account yet, and only realized, after looking it up, that interest rates are very very every poor right now. Still, If you get the $1,000,000, you could still get a job that you enjoy, and even if you only earn $20,000/yr at your job (about $30,000 before interest), you could withdraw another $20,000 from this account and live on $40,000/yr, with money in a savings account for an emergency, and it would last 50 years. And I know that $40,000 is enough to live comfortably.
#168 - psykobear (03/10/2014) [-]
$40,000/yr is enough for yourself and dependents to live a normal life. My father made $50,000 before taxes (so about $36,000 or so) and I have two siblings. Plus, the rate of withdrawal is irrelevant to the amount you're getting. 1,000,000 / 20,000 = 50, so even if you made 0% interest, you are guaranteed that amount.
#170 - psykobear (03/10/2014) [-]
52 weeks... well, 52.143 technically
7 days per week
(52weeks * 7days) + 1day = 364days + 1day = 365
10,000 / 52 = 192.30769
If you wanna get really really technical:
10,000 / 52.143 = 191.78
As to your second point, I was ignoring interest. I was just going off of the 1 million.
The 50 I said wasn't weeks, but years that 1,000,000 dollars would last if you took 20,000 out each year.
#172 - psykobear (03/10/2014) [-]
No, I don't intend to die in 50 years. But it is a possibility.
If not, there's still Social Security. I said I'd still work a normal job.
Vacations are normally paid for out of someone's salary, so why not out of my 40,000/yr salary? And health insurance pays most medical bills. If there are another extra expenses, the time of living in luxury will just be cut short a couple extra years.
In all honestly, that's one way of doing it. But now that I think of it, I would probably buy the neighboring farm that is for sale. But my above idea sounds more exciting.
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