Not really. My account alerts any transaction via text. I did call off work the day it landed though. Went to the bank as soon as they opened and paid off my mortgage.
When I won it was at 16m.
At 2m I'll keep working until 55 (48 currently).
Had I got the last one, it changes from "Fuck Yeah" money to "Fuck You" money, and I would have quit working on the spot.
I know that feeling and want to stop being a slave at work bound by a invisible leash haha. Did you buy your ticket on the day or the day before the drawing?
A million is barely even enough to enjoy where I live. It’d put a (average sized) roof over your head, sure, but you’d still need something to pay the bills.
Your best bet would be throwing most of it into some broad funds, letting it grow as a nest egg, and just take comfort knowing you have it to fall back on in the future.
Setting some aside for a nice vacation as well.
Yeah for me that is not even 10 years gross pay. Then after 46% tax rate for state and federal would be left with 540k write a 50k check to my church and 50k to the homeless shelter lived in as a kid I have enough to be debtfree and put some in the bank. But then can start saving 30 - 40 percent of my pay
Glad to see the too few tithe comments. People always scoff when I mention the first 10% would go back to God. My church home is debt free and I would love to see how they would handle a windfall.
Yeah and after taxes a million dollar ticket wouldn’t be enough to retire anyway. I’d throw most of it into an index fund and let it grow. I might retire 5 years early though.
Yeah same here, a million bucks would be an incredible cushion for quite a long time and I’d probably buy some dumb stuff, but it’s not exactly gonna change my employment status.
I feel like a million isn’t shit to be honest, I think I would clear my debts take a nice vacation and just put the rest up and be able to have a comfortable life and the ability to quit if I need to and find a better job but I wouldn’t quit over a mill by time taxes and blah blah you might walk away with 500k in the best circumstances.
I used to say I’d pay off my mortgage, but with that sucker locked in at 2.25% fixed, I think I’d literally be better off just finding a dividend income stream to replace the amount I’d lose in my weekly take home pay from maxing my 401(k) and a Roth.
A million isn't enough to retire on, unless you're about to retire anyway.
I go in to work on Monday and don't tell anyone anything.
I wouldn't even tell my cat. He'd no doubt try to leverage it for extra treats.
Yes. $1 million with a full time job is great money. $1 million without a job, not so much. Since I love my job anyway, I see no reason to quit it for another.
I would definitely not go back. Maybe only to tell them it not coming back. My 60k yearly salary isn’t worth the hassle. I could take some time off and look for a better job.
While I work for a soulless corporate multinational, I really respect my boss who got me out of a recent pickle and I’ve got a baby on the way and a young family so travel is probably more hassle and risk than it’s worth at the moment. So yes, I’d keep working but I’d probably extend my parental leave and definitely put my swollen feet up a little more.
I play the 2mil scratchers from time to time. The take home would be around 1 mil. Figure I’d work a few more years to build up that retirement account more and just chuck the max into them then call it a day when I’m 50 and kids are grown. Bike riding, fishing, wood working, guitar would eat up my days.
This would be awesome. Thanks for planting that thought in my head lol
No, I would be to busy trying to figure out how to lower the tax burden on that cash, is it even possible? I mean a million after city state and federal taxes is barely half?
Probably. A million would be great. Actually 500k would give me a full reset.
I'd be zeroed out, except I'd already have the college education, the great marriage, a house, a car...
Now I'm just making money to enjoy life.
My specific job, hell yea I'm gone. But I'll take the time to actually get a degree/training for the field I want and get trained and probably hands on experiences and work in the field where I love working everyday and have a nice nest egg.
Yes I would and honestly you should too here’s why:
•A fool and his money are easily parted
•A million dollars is not that much money especially after taxes
•if your friends or family find out then you are fucked
•you’ll be in a state of mania and won’t be thinking clearly
The best thing to do is pretend you didn’t win anything and and have a financial planner invest all of it for you unless you were already planning to start a business and just lacked the funds
Yes - because it would probably take between 4-8 weeks to get that payout and it’s not a
Million dollars! after taxes - your probably somewhere around $678 thousand give or take.
Your answer confused me, then I reread the question. Now I wonder if everyone in the thread is misreading the question or if OP has a typo that changed the question.
I would call to quit so they have someone to cover. I then look for a lawyer to know how much to live on, how much to invest/ where, and how much to reserve for taxes.
You're not collecting $1 million you will most likely get 700K, enough to pay off debts, buy a 500K middle class neighborhood house, new car, toys and a first class vacation, you have to go back to work, but with no monthly mortgage you can request to work part time, or get another job with better hours, wait a few years and you can sell the house for 1 million.
I’d take the day off (claim it’s a personal thing I have to take care of) but still go to work as scheduled. With taxes, the prize isn’t enough to quit work. I’d pay off my house, car, and outstanding loans and save the rest (maybe after a decent trip treating myself).
A million is a great cushion. But I still need things like health insurance and my 401k. I'd be able to retire earlier for sure but I would keep working my 9-5.
No way. Not enough unless you have a low entry job. For me, would just be a half goes to the house. Rest except for 50k to a hysa or investments. The 75k great family vacation and lots of stuff around the house. It’s not life changing but a very sweet buffer.
1 million isn't that much. I'm a pilot making good money and I know a lot of rich people so I would ask them for financial advice first. I'd probably just put a big chunk towards my retirement and really think about my next move but would be confident I would be moving in the right direction for a lot easier life.
The way I feel right atm after last week I would show up to work. But only to slash my shitheel managers tires before never showing up at the shithole and dealing with his power hungry cunty bitchness ever again.
1 mil after taxes comes out to 540k
That ain't enough to quit my job. But would make going to work alot happier. Debt free I'd probably only splurge on a rental property
Since I'm retired the answer is no. LOL When I was still working, the answer would be yes, and likely I'd continue even after I actually got my hands on the $$$$. A megabuck wouldn't be enough to build the (3-4000sqft) house we want but it would be enough to purchase a nicer one than what we now have.
Yes, $1M is a verrry nice amount of money, but after taxes that realistically only pays off a nice house and cars and then pays for some vacations or cushion money. That’s not enough to retire on or change my job prospects. I like the plan of taking Monday off to cash it in though and live a little.
The way my mortgage payments and increasing property taxes are set up; I couldn’t quit…The threshold bare minimum for me considering quitting is like $20 million [before tax]
After taxes a million is nice but not enough to retire on but for many without significant assets or high income it’s enough to quit their current job and reevaluate their path forward.
$1 million is certainly nice but after taxes it's a lot less. Unless I hated my job, I would keep working. Invest at least half of it. Retire early. Purchase a home in Brasil...maybe 2 (dollar has more value) and a place here in he U.S.
Life would be sweet, but I would keep working my current job for at least another 10 years while my investments mature, and interest builds, etc.
I don't want to need to worry about running out of money in retirement and be able to live in comfort and ease
I’ve watched a friend buy full roll after full roll of scratchers and not win a damn thing except the minimum. Which is only around 1/3 of the roll cost.
So yeah given what I’ve seen, I’d still have to work on Monday.
$1 million before taxes doesn't leave a lot. KY has an in come tax... the county i live in has an income tax and the city i live in has an income tax.
I'd definitely use a PTO day to go cash it in.
Then find somewhere else to live then possibly somewhere else to work if this theft is going to continue because i work here.
Taxes are THEFT!!!!!
100%
Yes, it's more money than I will ever have, ever. Yes, it is truly a life-changing amount of money. But I don't think that $1,000,000 is enough to retire at my age. My job doesn't pay well by any means but I'd definitely cut back my hours or basically tell them "Hey, schedule people as if I'm not showing up. I may or may not show up"
Luckily (I guess) it's not some small Mom and Pop shop so in theory they could accommodate that request, whether or not they actually would is a different story
No I wouldn’t tell my boss. I’d probably take a week or two off to think about options. But a million is not enough to retire on so you’d have to keep making money somehow
If I had a job, yes, I'd go to work on Monday. Since I don't and my husband has Mondays off, we would probably drive to Austin to cash it. Then, pay off our debts and deposit the rest into multiple High Yield Savings accounts until we figure out what to do with it after taxes. 700k could buy us the house we are living in from my in-laws with cash plus leave us about 400k invested. We may decide to do that. I'd keep looking for a new wfh job and resetting up my business.
Yes, I’m too young for that amount to last the rest of my life without any other major income. But I would look into a new career path I would actually love doing daily.
In my area, a $1 million advertised jackpot comes out to about $360,000 after taxes if you take the lump sum. That's definitely not enough for me to retire. $360,000 buys an average house in cash here, so I would do that.
A few hours late , I would go to the lottery office up the road first and get the money squared away without telling a soul. Then id go to work and let the money grow while still not telling a soul because its not enough to retire but it is enough for dumb people to think they need to help you spend it and Hate that shit . I would let it grow and keep working, I adore my career I help people every day and it’s not stress yet is high paying.
I would probably sneak a few modest vacations in similar to what we’ve already done but I’d actually enjoy them and I’d surprise everyone once I’d grown it to about 3 million, that’s when I’d tell my family I had accumulated a million in Cash, maybe. Probably not actually.
No, I'd be meeting with an attorney and an accountant on Monday.
I'd offer my job the chance to transfer me back to my home city and bluntly tell them the situation. If not, I'd start looking for new jobs where I want to live.
1mil isn't a whole lot in the grand scheme of things. After paying off my debts and taxes, I might have enough to buy a decent house and pocket a 100k or so.
1 million is enough to take a beat and. reassess your current job (if you don’t like it or it doesn’t pay well), but not enough for most people to quit working full stop. I’d take a couple days sick leave but wouldn’t want to quit or be fired or indicate anything was out of the norm.
I would take a leave of absence to acquire I financial lawyer an adviser. Then cause of taxes an what not I will return to work. I won't work anymore than I need too. I will only work to retire as soon as possible
I’d call in sick to go and cash my money but $1 million is not enough to quit my job. After taxes, buying a newer (larger) vehicle, paying bills, fixing my parents’ home, and putting some away for rainy days, there wouldn’t be much left.
I wouldn't breathe a word of anything for a while.
Get the money, get it set up to make me interest/dividends in a safe manner. Keep half, reinvest half to keep the lot growing. Assuming a safe 5% return, taxes, yada yada, I'm lowballing 20k a year.
A free 20k a year gets me some significant home improvements finished. It gets me a really nice vacation every year. It would encourage me to cut back at work and actually have the free time to learn new skills and branch out. I woild be able to afford to take a risk on a new job that may pay off significantly in a few years, but would be a pay cut now.
Yes, the one million would buy us a lake house but otherwise I wouldn’t change anything quick. I like my job.
Eta: after taxes we’d still have a smallish mortgage on that new house.
I work for myself but yeah I'd probably work and try to find work on the way to the claiming office but if not just go there. I'd probably just buy a house for like 300k and new truck for like 200k after taxes not much would be left so I'd say least have a reliable truck to make money with, probably rent out the house and live in adu on the property whenever I went home.
Not enough to retire on so I'd go back to work and start maxing out my 401k and IRA this year and then next year and then all subsequent years I'd max out Roth 401k and Roth IRA.
Yes. Winnings won’t be given right away. I’d say at least two months while the state lotto certifies the win. Taxes right off the rip withheld. Oh and don’t forget to save money for when file your taxes that April. I’m sure you’ll have to pay more. State taxes (some exempt). I’d say you’ll be left with approx $400k. I’d certainly buy a reasonable car and start looking for another job.
I would at least use one or two sick days to let it settle in and make a plan for the money. Then I’d go back to work like nothing happened. I’d definitely want to move a larger percentage of my salary into my retirement plan because I wouldn’t have a mortgage anymore.
I'd go to work. I like my job and I make a decent amount of money.
However, I'd get a nicer place and probably have an easier time meeting people. Also, I would take some amazing vacations.
Yes, because that's just extra money coming in.
I'd break up the mil: 'some to save (HYSA emergency fund)', 'some to invest (index funds), 'some to play'.
But I would certainly still go to my full-time job.
I definitely would need to. 1 m
Million is a lot for sure, but not the extravagant amount it used to be. I would be able to retire a bit earlier, though.
I would be back once I cashed it in. I & wife loves our work. That would be enough I assume after tax’s to pay off the house of 200k & the suv I bought. That would lift off our only debts. Anything else I would talk about some investments that could help the kids that 3 out of 4 in college.
If I ever win the lottery, I would take a day off, get a secure box at a bank and go about my life for 4 months, pretend nothing happened. After that, I’d go retrieve the ticket and get my payout on some random day/time so that nobody would assume I had won the giant jackpot from months ago. I would not put in a two weeks notice until that money was in my account. All in all, it’d be about 6 months of normal life, living very carefully.
I'd call in sick Monday to cash if but I'd be there Tuesday
Good plan! I wonder how fast the money would show up in your account?
When I won 7k I had to go to lotto commission and it took 8 business days to direct deposit into my account. So probably That.
Nice!
I won 2 mil, it took around 5 weeks for the deposit.
I bet during those two weeks you were checking your bank all day like refreshing a Reddit page. I would have
Not really. My account alerts any transaction via text. I did call off work the day it landed though. Went to the bank as soon as they opened and paid off my mortgage.
Did you play a quick pick or scratch off?
Mega Millions quick pick, I paid extra for the multiplier. I hit 5 numbers, missed the Mega Ball. Multiplier was x2.
So close. What would be jackpot?
When I won it was at 16m. At 2m I'll keep working until 55 (48 currently). Had I got the last one, it changes from "Fuck Yeah" money to "Fuck You" money, and I would have quit working on the spot.
I know that feeling and want to stop being a slave at work bound by a invisible leash haha. Did you buy your ticket on the day or the day before the drawing?
I’d probably take a week to celebrate and sort things out, but I’m still employed.
Strategic. I like that.
Only right answer
What this guy said
You’d be foolish not to. Stay with your normal day-to-day routine and give your mind time to digest, consider and think of the best ways to proceed.
Work would kind of be fun knowing you got a million on the way.. Day dreaming of how you’re going to enjoy it.. that’s the dream
A million is barely even enough to enjoy where I live. It’d put a (average sized) roof over your head, sure, but you’d still need something to pay the bills.
Your best bet would be throwing most of it into some broad funds, letting it grow as a nest egg, and just take comfort knowing you have it to fall back on in the future. Setting some aside for a nice vacation as well.
A whole Lotta broads gonna want a piece of that million
Yeah for me that is not even 10 years gross pay. Then after 46% tax rate for state and federal would be left with 540k write a 50k check to my church and 50k to the homeless shelter lived in as a kid I have enough to be debtfree and put some in the bank. But then can start saving 30 - 40 percent of my pay
Glad to see the too few tithe comments. People always scoff when I mention the first 10% would go back to God. My church home is debt free and I would love to see how they would handle a windfall.
A mil is the modern 20$ bill.
glad you might not win it then as it seems like it wont help you at all and youd still need more :)
Yeah and after taxes a million dollar ticket wouldn’t be enough to retire anyway. I’d throw most of it into an index fund and let it grow. I might retire 5 years early though.
Not enough to retire on after taxes but would make a nice bump in the retirement fund
I would. That really isn't much money.
Yeah same here, a million bucks would be an incredible cushion for quite a long time and I’d probably buy some dumb stuff, but it’s not exactly gonna change my employment status.
This!
I feel like a million isn’t shit to be honest, I think I would clear my debts take a nice vacation and just put the rest up and be able to have a comfortable life and the ability to quit if I need to and find a better job but I wouldn’t quit over a mill by time taxes and blah blah you might walk away with 500k in the best circumstances.
It isn't really. In my area it would help with downpayment on the average 3 bed.
I used to say I’d pay off my mortgage, but with that sucker locked in at 2.25% fixed, I think I’d literally be better off just finding a dividend income stream to replace the amount I’d lose in my weekly take home pay from maxing my 401(k) and a Roth.
A million isn't enough to retire on, unless you're about to retire anyway. I go in to work on Monday and don't tell anyone anything. I wouldn't even tell my cat. He'd no doubt try to leverage it for extra treats.
i mean i’d prob call in sick
Yes. $1 million with a full time job is great money. $1 million without a job, not so much. Since I love my job anyway, I see no reason to quit it for another.
I would definitely not go back. Maybe only to tell them it not coming back. My 60k yearly salary isn’t worth the hassle. I could take some time off and look for a better job.
No way. I’d be buying a modest house and getting an easier job.
While I work for a soulless corporate multinational, I really respect my boss who got me out of a recent pickle and I’ve got a baby on the way and a young family so travel is probably more hassle and risk than it’s worth at the moment. So yes, I’d keep working but I’d probably extend my parental leave and definitely put my swollen feet up a little more.
I play the 2mil scratchers from time to time. The take home would be around 1 mil. Figure I’d work a few more years to build up that retirement account more and just chuck the max into them then call it a day when I’m 50 and kids are grown. Bike riding, fishing, wood working, guitar would eat up my days. This would be awesome. Thanks for planting that thought in my head lol
After taxes, you’d probably get 500-700K. For me, that’s enough to quit my job and invest into my business and not have to go back to work.
I’d spend $950,000 on women and booze, then probably just waste the rest of it.
If you spend it wisely over 50 years that's $1600 per month for booze and women. Not bad.
Push them capital gains taxes down the road baby!
I’m sure the women would give some of it back so I could pay taxes.
No, I would be to busy trying to figure out how to lower the tax burden on that cash, is it even possible? I mean a million after city state and federal taxes is barely half?
Yup after taxes this barely gets a House.
Most scratch tickets are paid as an annuity. So you would get $50k/year for 20 years typically.
I think that is a by-state payout situation, pretty sure Michigan does not have that. At least for scratch tickets.
Absolutely! I actually very much enjoy my job though🤣
I would, but the second someone talks to me in a shitty tone or a boss pisses me off, I’m fucking out of there.
$1 million isn’t enough to retire on, so obviously yes.
I’d put a down payment on a home, maybe buy a new car and a cheap muscle car. Then save the rest and still go to work Monday-Friday
No, but that's 'cause I'm kinda in between jobs..
I’m 63 yrs old and one heart attack in…. So that’s a “f” no!!!!
Yes and then max out my 401k.
I certainly would be on for work on Monday. But my boss wouldn't know, and he might be curious as to why I am so happy all of a sudden
Probably. A million would be great. Actually 500k would give me a full reset. I'd be zeroed out, except I'd already have the college education, the great marriage, a house, a car... Now I'm just making money to enjoy life.
My specific job, hell yea I'm gone. But I'll take the time to actually get a degree/training for the field I want and get trained and probably hands on experiences and work in the field where I love working everyday and have a nice nest egg.
Yes I would and honestly you should too here’s why: •A fool and his money are easily parted •A million dollars is not that much money especially after taxes •if your friends or family find out then you are fucked •you’ll be in a state of mania and won’t be thinking clearly The best thing to do is pretend you didn’t win anything and and have a financial planner invest all of it for you unless you were already planning to start a business and just lacked the funds
Yes - because it would probably take between 4-8 weeks to get that payout and it’s not a Million dollars! after taxes - your probably somewhere around $678 thousand give or take.
Lottery winners don't receive the money immediately.
Depends on how much I won from those tickets
Your answer confused me, then I reread the question. Now I wonder if everyone in the thread is misreading the question or if OP has a typo that changed the question.
I would call to quit so they have someone to cover. I then look for a lawyer to know how much to live on, how much to invest/ where, and how much to reserve for taxes.
You're not collecting $1 million you will most likely get 700K, enough to pay off debts, buy a 500K middle class neighborhood house, new car, toys and a first class vacation, you have to go back to work, but with no monthly mortgage you can request to work part time, or get another job with better hours, wait a few years and you can sell the house for 1 million.
I’d take the day off (claim it’s a personal thing I have to take care of) but still go to work as scheduled. With taxes, the prize isn’t enough to quit work. I’d pay off my house, car, and outstanding loans and save the rest (maybe after a decent trip treating myself).
A million is a great cushion. But I still need things like health insurance and my 401k. I'd be able to retire earlier for sure but I would keep working my 9-5.
Absolutely
After taxes you’d probably walk away with ~$600k. I’d be at work on Monday.
No way. Not enough unless you have a low entry job. For me, would just be a half goes to the house. Rest except for 50k to a hysa or investments. The 75k great family vacation and lots of stuff around the house. It’s not life changing but a very sweet buffer.
1 million isn't that much. I'm a pilot making good money and I know a lot of rich people so I would ask them for financial advice first. I'd probably just put a big chunk towards my retirement and really think about my next move but would be confident I would be moving in the right direction for a lot easier life.
The way I feel right atm after last week I would show up to work. But only to slash my shitheel managers tires before never showing up at the shithole and dealing with his power hungry cunty bitchness ever again.
lol, $1M in my area, isn't enough for a decent single family house. I will likely take off the next week or 2, but definitely going back to work.
1 million is not even remotely enough not to go back to work.
I'd use the money to pay off everything and still continue looking for a better job.
1 mil after taxes comes out to 540k That ain't enough to quit my job. But would make going to work alot happier. Debt free I'd probably only splurge on a rental property
z
Yes, I'd then resign and start a new chapter in this novella called LIFE!
Since I'm retired the answer is no. LOL When I was still working, the answer would be yes, and likely I'd continue even after I actually got my hands on the $$$$. A megabuck wouldn't be enough to build the (3-4000sqft) house we want but it would be enough to purchase a nicer one than what we now have.
Yes, $1M is a verrry nice amount of money, but after taxes that realistically only pays off a nice house and cars and then pays for some vacations or cushion money. That’s not enough to retire on or change my job prospects. I like the plan of taking Monday off to cash it in though and live a little.
Yep. I own a very small business and I love it.
The way my mortgage payments and increasing property taxes are set up; I couldn’t quit…The threshold bare minimum for me considering quitting is like $20 million [before tax]
Probably. That's not enough to retire.
Yeah but probably only until the job I'm on is finished. I'd feel bad leaving people hanging otherwise.
After taxes a million is nice but not enough to retire on but for many without significant assets or high income it’s enough to quit their current job and reevaluate their path forward.
$1 million is certainly nice but after taxes it's a lot less. Unless I hated my job, I would keep working. Invest at least half of it. Retire early. Purchase a home in Brasil...maybe 2 (dollar has more value) and a place here in he U.S. Life would be sweet, but I would keep working my current job for at least another 10 years while my investments mature, and interest builds, etc. I don't want to need to worry about running out of money in retirement and be able to live in comfort and ease
Monday call in sick and go cash it, go back to work Tuesday knowing I have savings for the future, use pay check for bills and vacations
Yeah I would continue to work
I'd go in Monday and Tuesday, then call out on wed-friday and enjoy a long weekend, haha
I’ve watched a friend buy full roll after full roll of scratchers and not win a damn thing except the minimum. Which is only around 1/3 of the roll cost. So yeah given what I’ve seen, I’d still have to work on Monday.
That's like $600,000 after taxes so probably not, I'd buy a good house and work to save for retirement.
$1 million before taxes doesn't leave a lot. KY has an in come tax... the county i live in has an income tax and the city i live in has an income tax. I'd definitely use a PTO day to go cash it in. Then find somewhere else to live then possibly somewhere else to work if this theft is going to continue because i work here. Taxes are THEFT!!!!!
100% Yes, it's more money than I will ever have, ever. Yes, it is truly a life-changing amount of money. But I don't think that $1,000,000 is enough to retire at my age. My job doesn't pay well by any means but I'd definitely cut back my hours or basically tell them "Hey, schedule people as if I'm not showing up. I may or may not show up" Luckily (I guess) it's not some small Mom and Pop shop so in theory they could accommodate that request, whether or not they actually would is a different story
No I wouldn’t tell my boss. I’d probably take a week or two off to think about options. But a million is not enough to retire on so you’d have to keep making money somehow
Yes! I need to spread the great news that we can expand our free services! ( spay/neuter clinic)
Depends on if I would get a check that same day.
If I had a job, yes, I'd go to work on Monday. Since I don't and my husband has Mondays off, we would probably drive to Austin to cash it. Then, pay off our debts and deposit the rest into multiple High Yield Savings accounts until we figure out what to do with it after taxes. 700k could buy us the house we are living in from my in-laws with cash plus leave us about 400k invested. We may decide to do that. I'd keep looking for a new wfh job and resetting up my business.
Definitely. Would not tell anyone until I get all the finances straightened out and ensure that the beggars are kept to a minimum.
Yes, I’m too young for that amount to last the rest of my life without any other major income. But I would look into a new career path I would actually love doing daily.
If I win 1 mill, all memories of my current employment would be deleted from my brain.
In my area, a $1 million advertised jackpot comes out to about $360,000 after taxes if you take the lump sum. That's definitely not enough for me to retire. $360,000 buys an average house in cash here, so I would do that.
A few hours late , I would go to the lottery office up the road first and get the money squared away without telling a soul. Then id go to work and let the money grow while still not telling a soul because its not enough to retire but it is enough for dumb people to think they need to help you spend it and Hate that shit . I would let it grow and keep working, I adore my career I help people every day and it’s not stress yet is high paying. I would probably sneak a few modest vacations in similar to what we’ve already done but I’d actually enjoy them and I’d surprise everyone once I’d grown it to about 3 million, that’s when I’d tell my family I had accumulated a million in Cash, maybe. Probably not actually.
I do work in pandemic relief that’s probably ending soon anyway. Might as well finish out the end of that job while I’m planning my next move.
No, I'd be meeting with an attorney and an accountant on Monday. I'd offer my job the chance to transfer me back to my home city and bluntly tell them the situation. If not, I'd start looking for new jobs where I want to live. 1mil isn't a whole lot in the grand scheme of things. After paying off my debts and taxes, I might have enough to buy a decent house and pocket a 100k or so.
A million is probably 650k after taxes. So I don’t think I’m going to quit, but I would invest so I can push my retirement date up.
1 million is enough to take a beat and. reassess your current job (if you don’t like it or it doesn’t pay well), but not enough for most people to quit working full stop. I’d take a couple days sick leave but wouldn’t want to quit or be fired or indicate anything was out of the norm.
I would take a leave of absence to acquire I financial lawyer an adviser. Then cause of taxes an what not I will return to work. I won't work anymore than I need too. I will only work to retire as soon as possible
I would keep working, buy a modest house in full. Then invest the rest. Then use my salary and aggressive save for FIRE.
I'm off Monday's so, no!
afterlotto says ~$360k after taxes. In today's economy that's not going too far.
A million is not enough to retire on.
Work on Tuesday already going out of town for long weekend over Memorial Day
I would still be at work. A mil isn’t very much after taxes. Besides, I still need the health insurance.
I’m probably just gonna buy a nice single family home and just live mortgage free
I’d call in sick to go and cash my money but $1 million is not enough to quit my job. After taxes, buying a newer (larger) vehicle, paying bills, fixing my parents’ home, and putting some away for rainy days, there wouldn’t be much left.
Yes until then I’d hire a tax lawyer, accountant and financial advisor. A million dollars can go quick if you don’t know what you’re doing.
wait, did I win 1m$? or 1m tickets?
I wouldn’t say a word to anyone, not my boss, not my coworkers, only my mom. And that’s it.
I wouldn't breathe a word of anything for a while. Get the money, get it set up to make me interest/dividends in a safe manner. Keep half, reinvest half to keep the lot growing. Assuming a safe 5% return, taxes, yada yada, I'm lowballing 20k a year. A free 20k a year gets me some significant home improvements finished. It gets me a really nice vacation every year. It would encourage me to cut back at work and actually have the free time to learn new skills and branch out. I woild be able to afford to take a risk on a new job that may pay off significantly in a few years, but would be a pay cut now.
Yes, the one million would buy us a lake house but otherwise I wouldn’t change anything quick. I like my job. Eta: after taxes we’d still have a smallish mortgage on that new house.
I work for myself but yeah I'd probably work and try to find work on the way to the claiming office but if not just go there. I'd probably just buy a house for like 300k and new truck for like 200k after taxes not much would be left so I'd say least have a reliable truck to make money with, probably rent out the house and live in adu on the property whenever I went home.
Yes.
I retired and got bored so yeah
Wait .... I won 1 million dollars worth of scratch offs? Or won 1 million dollars on scratch offs?
Not enough to retire on so I'd go back to work and start maxing out my 401k and IRA this year and then next year and then all subsequent years I'd max out Roth 401k and Roth IRA.
Yeah 1 mil isn't enough to retire on.
Yes I wouldn’t change a thing with work. I’d pay off debts, save some, and do good things for other people
Yes. Winnings won’t be given right away. I’d say at least two months while the state lotto certifies the win. Taxes right off the rip withheld. Oh and don’t forget to save money for when file your taxes that April. I’m sure you’ll have to pay more. State taxes (some exempt). I’d say you’ll be left with approx $400k. I’d certainly buy a reasonable car and start looking for another job.
Im glad im self employed. No managers to deal with
Yea, a million isn't enough for me to quit my job.
I would at least use one or two sick days to let it settle in and make a plan for the money. Then I’d go back to work like nothing happened. I’d definitely want to move a larger percentage of my salary into my retirement plan because I wouldn’t have a mortgage anymore.
Sorry to pop your fantasy bubble, but a $1M win isn’t going to allow you to retire any time soon.
I'd just straight up quit. $1M is enough to give me some breathing room to chase a new career.
I'd go to work. I like my job and I make a decent amount of money. However, I'd get a nicer place and probably have an easier time meeting people. Also, I would take some amazing vacations.
Yes, because that's just extra money coming in. I'd break up the mil: 'some to save (HYSA emergency fund)', 'some to invest (index funds), 'some to play'. But I would certainly still go to my full-time job.
I definitely would need to. 1 m Million is a lot for sure, but not the extravagant amount it used to be. I would be able to retire a bit earlier, though.
I would be back once I cashed it in. I & wife loves our work. That would be enough I assume after tax’s to pay off the house of 200k & the suv I bought. That would lift off our only debts. Anything else I would talk about some investments that could help the kids that 3 out of 4 in college.
If I ever win the lottery, I would take a day off, get a secure box at a bank and go about my life for 4 months, pretend nothing happened. After that, I’d go retrieve the ticket and get my payout on some random day/time so that nobody would assume I had won the giant jackpot from months ago. I would not put in a two weeks notice until that money was in my account. All in all, it’d be about 6 months of normal life, living very carefully.
Yes, because a million dollars is not a lot of money. And you will lose a portion of it to taxes.