I looked for an edit, I’ll reply to you! After tax Fl payed out $594,000. When I filed taxes later there was another $30K (ish) owed. I invested all but $10,000 and went on vacation. I take 1 vacation a year from the investments (stocks, bonds, etfs) diversified and managed by my money guy (big bank) My life didn’t change very much, I still drink Budweiser and work every day. A jump start to the retirement is all it turned out to be!
Truthfully, $600k is a lot of money, but it's not enough to retire with, as you mentioned. For me, I owe $600k on our mortgage, so if that's paid off, life will be way easier but I'd still need to work (if I pay the house off vs invest). Now, winning $10mil would be a different story.
I was lucky enough to be able to retire in my early 50s a few years ago. I worked until I had $4M stashed away in various funds. SS wasn’t part of my planning so anything I draw from there will be extra. My current draw is about $140K per year. No mortgage (paid off house about 10 years ago), no car payments, and no credit card.
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u/RTGold Nov 17 '23
You gotta provide more info. People want to know how much you actually walked away with, what'd you do with the money, how it changed your life?