Current Events > If I won the lottery, I would just be a NEET

(+) Yeah! (+)

Always hear stories of people spending it all, becoming poor again. No way. I'd find a normal place to live and NEET
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Yeah, pretty much the same.

true

Invest all but like $100k, live on a $50k salary every year and have $50k for emergency money.

Bigger than that if the more the prize is
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The luckiest NEET who ever lived
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Doesnt everyone who wins lotto say that?

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*continues laughing in the background like Conal Cochran in Halloween 3 as he conducts his demonstration to Dan Challis*
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godspeed to you! lol!
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gloBal enemy posted...

Doesnt everyone who wins lotto say that?

Maybe but all you have to do is invest most of your money in something that isn't that that liquid like stocks, bonds, etc. Then it will be relatively difficult to take out and spend.
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I think most people would as well
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Damn_Underscore posted...

Maybe but all you have to do is invest most of your money in something that isn't that that liquid like stocks, bonds, etc. Then it will be relatively difficult to take out and spend.

again, isn't that what everyone who has windfall gains say they intend to do?

shrug, i'm only speculating as i've never been in that position and don't know anyone (personally) who has.

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Damn_Underscore posted...

Maybe but all you have to do is invest most of your money in something that isn't that that liquid like stocks, bonds, etc. Then it will be relatively difficult to take out and spend.

You're not supposed to invest in liquid?

Fuck.

I spent my lottery winnings on milk.

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The people smart enough not to waste money don't play lottery to begin with.

gloBal enemy posted...

Doesnt everyone who wins lotto say that?

No.
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I couldn't do it. I could not just do nothing all day, have no responsibilities, no stress in my life. I'd go nuts.

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Wouldnt you be able to live off of the interest alone?
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i would make videogames
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Chicken posted...

Wouldnt you be able to live off of the interest alone?

Depends how much the jackpot was.

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Let's say you won $1 million in the lottery. You take out $50k for emergencies and live off a $50k salary every year.

So you have 19 years to live as a NEET until the money runs out, but if you invest the rest at just a 6% average return and taking out $50k every year you'll get back about $1.2 million after 19 years (source: https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php)

The better your average return the more you'll have after 19 years, then you can repeat with a bigger salary for yourself if you want.
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buying lotto tix this weekend
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I would buy a small island and call it NEET island

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a wise decision!!! probably.
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Damn_Underscore posted...

Let's say you won $1 million in the lottery. You take out $50k for emergencies and live off a $50k salary every year.

So you have 19 years to live as a NEET until the money runs out, but if you invest the rest at just a 6% average return and taking out $50k every year you'll get back about $1.2 million after 19 years (source: https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php)

The better your average return the more you'll have after 19 years, then you can repeat with a bigger salary for yourself if you want.

you forgot to pay your taxes. you'll most likely see 60% of that money. so you get 50,000 for 12 years, which you probably cant live on, anyway, then back to work.

You're right, but then you just have to make your salary $30k and the math works basically the same.

Should still be more than enough for a NEET lifestyle.
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I think a lot of control is thrown out the window when you have a liscence.
Cuz, a lot of money goes to cars from what I've seen. And some people buy mansions on top of that.

I'd just use the money to supercharge my metrocard with like 90k to take the bus forever.

Also I'd just want an apartment. Not a big one, but preferably one with a lot of storage space. My piles of fabric need to go somewhere.

Also a good way to restrain youself I'd imagine is to lock half of your winning in the bank and then tell them to freeze it for a few years to prevent yourself from withdrawing the money, if that is indeed possible.
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Damn_Underscore posted...

gloBal enemy posted...

Doesnt everyone who wins lotto say that?

Maybe but all you have to do is invest most of your money in something that isn't that that liquid like stocks, bonds, etc. Then it will be relatively difficult to take out and spend.

Stocks are liquid as fuck. The extra step of having to sell them is no barrier to someone with poor impulse control.
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I mean they are less liquid than cash

I have different stocks now and it would be a pain to cash all of them out.
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