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View Poll Results: Would you retire?
Yes 37 21.89%
No 90 53.25%
Part Time work only 42 24.85%
Voters: 169. You may not vote on this poll

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Old 11-13-07, 08:31 AM   #51
dieinafire
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No way could I retire on that amount of money. I am only 25, and that would not really be enough for all the things I want. It would make life a little easier though.
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Old 11-13-07, 08:47 AM   #52
Charlie Goose
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If I remember correctly, the $1000 For Life isn't a weekly check. You get $13000 every 13 weeks, so you get paid roughly every 3 months. Minus taxes and you get between 8 and 9 grand.

And if you don't work, that $9000 will be spent a lot quicker than you would think.

If I ever won, I would have my wife put it in her name, that way she's taken care of when I croak. I wouldn't retire, but use the money to be a lot more comfortable. And move somewhere else.
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Old 11-13-07, 09:23 AM   #53
DVD Josh
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First of all, $1k a week in LOTTERY WINNINGS is closer to $500/mo than $650.

But considering I couldn't pay my school loans and mortgage on $1k a week, I guess that I'd have to say no, I wouldn't retire.
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Old 11-13-07, 09:56 AM   #54
ANDREMIKE
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Quote:
Originally Posted by Charlie Goose

If I ever won, I would have my wife put it in her name, that way she's taken care of when I croak. I wouldn't retire, but use the money to be a lot more comfortable. And move somewhere else.

How old are you? What if your wife dies before you? What if you get divorced?
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Old 11-13-07, 10:09 AM   #55
zuffy
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I would still work fulltime. Use that $1k a week to help speed up my mortgage payment and then as investment once the mortgage is done.
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Old 11-13-07, 10:28 AM   #56
SpaceBoy
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No, I would simply use it to invest, pay for my 1-2 vacations a year etc. and live with a little less stress in my life.
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Old 11-13-07, 10:56 AM   #57
atari2600
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of course not. however, id let it go straight into a bank account and let it just accumulate. pretend like its not even there. hpoefully after 10-20 years (and interest) ill have a nice chunk of change.
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Old 11-13-07, 11:16 AM   #58
Goldblum
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I answered "Part Time Work Only" but the more I think about it, I think the better move would be to invest the money, continue to work full-time, and then retire much earlier than normal.
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Old 11-13-07, 11:44 AM   #59
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Quote:
Originally Posted by DVD Josh
First of all, $1k a week in LOTTERY WINNINGS is closer to $500/mo than $650.
How do you figure? You don't have SS taken out of lottery winnings, and this isn't millions, so they wouldn't take out the top rate. They may take out 25%, but more than that? I also may be off because we have no state income tax here.
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Old 11-13-07, 11:47 AM   #60
Charlie Goose
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Quote:
Originally Posted by ANDREMIKE
How old are you? What if your wife dies before you? What if you get divorced?
It's more important to me that she's taken care of if I go first. If we ever got divorced, I'd still feel better knowing that she's set and won't need alimony.
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Old 11-13-07, 12:08 PM   #61
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Quote:
Originally Posted by Lateralus

So this is the second person that has won big after I have given them a ride someplace, about 5 years ago another friend won 36 million after I dropped her off.... maybe I should start buying tickets.
And what is the rest of the story with this one, I hope they retired? Traveled the world? Moved to a mansion?


Also, with the friend that won 1k per week for life, did they do a life expectancy thing to project the payments for a certain amount of time?, I wouldn't think they would make it that indefinite just saying for life. just curious.
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Old 11-13-07, 12:12 PM   #62
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I used a tax calculator to see what my tax would be on $52,000 of non-income earnings if I quit my job, and it was only $2745. Maybe if you're single with no kids and have a lot of other income there would be a lot of tax. I think I'd invest it and keep my job, though. I only work part time and I like getting out of the house.
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Old 11-13-07, 12:17 PM   #63
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I would sign up a personal trainer who would make sure I stay in the best shape to make sure I can receive those checks as long as possible.
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Old 11-13-07, 12:17 PM   #64
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Not even close. That might be a bit of extra spending money after taxes. Not even close to anything that would support my retirement. (I'm not prepared to relocate to a third-world Caribbean island!)
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Old 11-13-07, 12:25 PM   #65
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I wouldn't retire. The extra income would definitely make me a lot less stressed out about the future though, so I would take more risks and pursue things that interest me, rather than work for money.

Retiring this young would be really boring unless I was mega-rich.
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Old 11-13-07, 12:43 PM   #66
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Originally Posted by calhoun07
I don't know about that, but can you give me a ride home next week?
That was going to be my joke.



Quote:
Originally Posted by Duran
I'd consider moving somewhere with a low cost of living and taking a much less stressful job, but I'd still work.
Quote:
Originally Posted by kvrdave
That is actually more than twice the average income in my county.
Yeah, that was going to be my response. For a thousand a week, I could move somewhere VERY cheap and never worry about finding a job, or at least never having to do a job I don't want. Geez, if you think about it, there are some places in the world where you could have a small house on a beach and live VERY well on that kind of money.
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Old 11-13-07, 12:47 PM   #67
shoppingbear
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Quote:
Originally Posted by VinVega
They should really up these scratch offs to $2,000 a week. I might have to consider it, if it was at that level, but not at $1,000 a week. I could quit a job a lot easier though knowing I still have an extra grand coming in a week for food and bills though.
Dude, I'd quit my job today. I'd love to be able to take some fun jobs I've run across that pay barely minimum wage. That would be awesome.
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Old 11-13-07, 12:49 PM   #68
kaze0
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I'd quit and do something I want to do, when I feel like it. I think 52k a year would provide a very comfortable life. You don't have to worry about a job ever, because its a reasonable amount of guranteed money.
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Old 11-13-07, 12:49 PM   #69
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I would put two of my three kids through college. I'd tell the third that I need beer money, so he can just go right to work in construction or something.
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Old 11-13-07, 12:50 PM   #70
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Old 11-13-07, 12:53 PM   #71
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Hey if you lived in Manhattan, that would be like free rent every month on a studio apartment, right?
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Old 11-13-07, 01:01 PM   #72
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I would think of the weekly stipend as karmic remuneration for being stupid enough to buy lottery tickets.
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Old 11-13-07, 01:15 PM   #73
nateman
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Would I retire for $1,000 a week ($500 when taxes steal your money, they donít take half in Canada but Iíll play along with US money) for the rest of my life? No, No I wouldnít.

Iíd just add the money into my entertainment budget (which is big enough already) and probably end up renovating some rooms in the oleí house.
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Old 11-13-07, 01:21 PM   #74
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Quote:
Originally Posted by shoppingbear
Dude, I'd quit my job today. I'd love to be able to take some fun jobs I've run across that pay barely minimum wage. That would be awesome.
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Old 11-13-07, 01:25 PM   #75
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Originally Posted by Toad
I couldn't retire, but I might change my line of work.
I would probably work at a local humane society or a pet rescue group.
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