The majority lottery winners are idiots for sure, as are people that don't think they can retire on a mil.
No one is forcing you guys to live in downtown east coast/west coast areas where you can't even buy a house for that much.
Assuming the million offered here is tax free initially, 8% on a mil invested is 80 grand, and even the laziest of investors can make 8% a year in stable years. Let's say you don't let it sit and instead take it out and it's taxed as income instead of long term capital gains, so you're left with maybe 63k after taxes
My wife and I combined make less than that now after taxes (we clear like 58k),and we live EXTREMELY comfortably in Central Florida and never want for anything and buy whatever we want and get annual Disney passes and take at least 2 vacations a year.
Maybe you guys... Just suck with money?
You can retire on a million, you just shouldn't expect it to mean you don't have to limit yourself in order to do so. That's the takeaway there.
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