Post/Author/DateTime	Post
#1 Cpt_Micha Jul 06, 2011 13:29:10	today.msnbc.msn.com/id/43465344/ns/today... Good on him
#2 Jharii Jul 06, 2011 13:37:53	Awesome story.  He was a hero/role model long before he fell into the money, which makes this story infinitely better.
#3 iqwinn Jul 06, 2011 17:59:16	Guh-ROOVY!!
#4 bronski113 Jul 06, 2011 20:27:17	When you hear about someone like him you realize you could do more.  Basically just be a decent person and when you can help out do so. I hope the guy wins again.  It sounds like he deserves it.
#5 lokiare Jul 06, 2011 21:54:00	That's awesome, but people are forgetting some economics. First after taxes it's less than 60% which means if the guy were frugal he could live without working for about 5 years (20,000 per year). So keeping his job was the better plan and cementing his stay there was worth it. "You can't fire him he did all this stuff for us"...
#6 draco1119 Jul 06, 2011 22:04:51	That's awesome, but people are forgetting some economics. First after taxes it's less than 60% which means if the guy were frugal he could live without working for about 5 years (20,000 per year). So keeping his job was the better plan and cementing his stay there was worth it. "You can't fire him he did all this stuff for us"... Right.  Because the guy's obviously a calculating, selfish jerk.  On topic: This article made me think of Bob Ladouceur.  The dude's had multiple offers to coach professionals, but feels that he can have a greater impact on high school kids.
#7 lokiare Jul 06, 2011 23:33:37	That's awesome, but people are forgetting some economics. First after taxes it's less than 60% which means if the guy were frugal he could live without working for about 5 years (20,000 per year). So keeping his job was the better plan and cementing his stay there was worth it. "You can't fire him he did all this stuff for us"... Right.  Because the guy's obviously a calculating, selfish jerk.  On topic: This article made me think of Bob Ladouceur.  The dude's had multiple offers to coach professionals, but feels that he can have a greater impact on high school kids. I didn't say he wasn't a genuinely good person. I did say the other option was just ignorant though...
#8 capitan_estaban Jul 06, 2011 23:40:28	Nice guy. Lottery stories always remind me of this.
#9 Maxperson Jul 07, 2011 0:20:09	That's awesome, but people are forgetting some economics. First after taxes it's less than 60% which means if the guy were frugal he could live without working for about 5 years (20,000 per year). So keeping his job was the better plan and cementing his stay there was worth it. "You can't fire him he did all this stuff for us"... Let's assume 50%.  That leaves him 1.7 million dollars.  20k a year for 5 years in 100k.  Looks like he can live for 85 years at that rate.  Longer since there is interest involved.
#10 capitan_estaban Jul 07, 2011 0:44:25	50% isn't a horrible assumption, but that doesn't take into account taxes, it only takes into account annuities. I would figure that you probably will lose another 35% (topline tax rate) of the remaining 50% (or 67.5%). At 20k a year, the 1,202k will last 60 years.
#11 Qube Jul 07, 2011 1:24:12	Actually, if you have 1 million, a 2% intrest would cover your 20k costs entirely. So, not 85 or 60 years, but (theoretically) indefinitely ...
#12 lokiare Jul 07, 2011 10:14:21	Actually, if you have 1 million, a 2% intrest would cover your 20k costs entirely. So, not 85 or 60 years, but (theoretically) indefinitely ... where are you getting 2% interest? The best interest I can find is 0.5%
#13 Maxperson Jul 07, 2011 10:19:05	50% isn't a horrible assumption, but that doesn't take into account taxes, it only takes into account annuities. I would figure that you probably will lose another 35% (topline tax rate) of the remaining 50% (or 67.5%). At 20k a year, the 1,202k will last 60 years. I don't know how it works there, but after taxes AND cash value deductions, you walk away with 40-50% in the California Super Lotto and the Megamillions multi-state lotteries.
#14 Qube Jul 07, 2011 14:25:58	Actually, if you have 1 million, a 2% intrest would cover your 20k costs entirely. So, not 85 or 60 years, but (theoretically) indefinitely ... where are you getting 2% interest? The best interest I can find is 0.5% wha? Does a US savings account only give .5 percent? Not to mention other ways of making money (investments, ...)
#15 zombie_babies Jul 07, 2011 14:28:21	Dood, I had an 18 month CD that made, like, less than 3% or something pitiful like that.  It don't pay to save your cash in a bank anymore.
#16 Qube Jul 07, 2011 14:33:57	Dood, I had an 18 month CD that made, like, less than 3% or something pitiful like that.  It don't pay to save your cash in a bank anymore. it is when you got 1M and only need 20K a year. Your pityfull 3percent on 18 months is exactly enough ...
#17 homicidal_squirrel Jul 07, 2011 14:46:48	Yeah, the interest you earn on savings accounts had dropped. However, the guy with a cool million in the bank isn't going to be crying. He still makes a nice bit of cash off of that million with a 2% interest rate. If you have $200 in the bank... well... that's a different story...
#18 pluisjen Jul 07, 2011 15:04:08	Generally banks also offer higher interest when you store a lot of money with them. (You'd think that makes absolutely no sense, but it's still often so)
#19 zombie_babies Jul 07, 2011 15:07:20	it is when you got 1M and only need 20K a year. Your pityfull 3percent on 18 months is exactly enough ... Oh yeah, that's not bad.  Me, though?  It was 2k from a 401k acct I couldn't roll over.  I could have made it an IRA ... and then paid penalties on it annually since if your IRA is less than 5k they charge you.  Awesome.  Shoulda bought that motorcycle with it like I planned ...
#20 homicidal_squirrel Jul 07, 2011 15:08:17	it is when you got 1M and only need 20K a year. Your pityfull 3percent on 18 months is exactly enough ... Oh yeah, that's not bad.  Me, though?  It was 2k from a 401k acct I couldn't roll over.  I could have made it an IRA ... and then paid penalties on it annually since if your IRA is less than 5k they charge you.  Awesome.  Shoulda bought that motorcycle with it like I planned ... You could have named it IRA.
#21 Jharii Jul 07, 2011 15:09:18	Generally banks also offer higher interest when you store a lot of money with them. (You'd think that makes absolutely no sense, but it's still often so)  It makes more sense.  More money in the bank is more money they can loan out to other people at 3.5-20% depending on the loan.
#22 zombie_babies Jul 07, 2011 15:22:46	You could have named it IRA. Yeah, I coulda.  Looked more like a Robert, though.
#23 homicidal_squirrel Jul 07, 2011 15:23:58	You could have named it IRA. Yeah, I coulda.  Looked more like a Robert, though. So you would have been riding Robert?
#24 zombie_babies Jul 07, 2011 15:24:49	Hard and fast.  I'd also be sure to always use both hands.  Wouldn't want him buckin' me off if I punched it too roughly.
#25 homicidal_squirrel Jul 07, 2011 15:29:05	Hard and fast.  I'd also be sure to always use both hands.  Wouldn't want him buckin' me off if I punched it too roughly.
#26 ADHadh Jul 07, 2011 16:41:29	You could have named it IRA. ? Show