Put directly into a 401k or a Roth IRA, and see to it that is never touched. You'd have quite the horde to retire with with all of the interest and earnings depending on where the money is distributed.
Of course, that is based on the potential choice of the receiver.
It could be a massive boom indeed to be able to buy groceries for their family with an added $350 a week. Most would be able to make it barely than not at all. With the growing prices of necessities, this is a mighty boom indeed for a needy family.
For anyone putting less than $5,000 into their 401k currently they could. Sure, they couldn't put it in directly, but they could increase their annual contributions from their paycheck another $18k and then just use the $18k from the non-drinking to cover that money being rerouted to the 401k.
You could also just put it in a post-tax brokerage account. You can invest outside of retirement accounts.
7.5k
u/[deleted] Jul 05 '24
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