Reply to thread

Message: [QUOTE="HuskyHawk, post: 2886793, member: 1414"] Yes, but it reminds me of an interesting hypothetical I had in Finance 101 (at UConn of course). Back then ordinary interest rates were over 5%. So it was about spending $1B (assuming you had it net of tax, in a savings account). In order to burn through the $1B in our lifetimes (as 20 year olds) we needed to spend something close to $150,000 every single day from 20 to 75. It really is a lot of money. Of course it was a lot more money back in 1986 than it is now. The annuity is idiot proof and most middle class people should probably opt for it when the Jackpot gets into the hundreds of millions. Winning the lottery has ruined some people. [/QUOTE]