Lady Butterfly ( CheeseToastie@lazysoci.al ) to

[Moved to Piefed] Ask@lemm.eeEnglish · 1 year ago

Would you rather have 2 million dollars now or 100k a year for the rest of your life? All tax free

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Would you rather have 2 million dollars now or 100k a year for the rest of your life? All tax free

Lady Butterfly ( CheeseToastie@lazysoci.al ) to

[Moved to Piefed] Ask@lemm.eeEnglish · 1 year ago

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iii ( iii@mander.xyz )
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1 year ago

He said that $1M at age 65 is worth $100K a year, indexed to inflation, for life.

The typical estimate is 4% (1), meaning 1M USD is equivalent to 40k USD a year.
- HamsterRage ( HamsterRage@lemmy.ca )
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  1 year ago
  Yikes! My mistake, $60K/yr, not $100K/yr. Basically, what it would cost you to buy an annuity at that age.
  
  Fixed my earlier comment.

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