Originally published at: Florida man who won $1 million lottery plans on "upgrading to an electric toothbrush" | Boing Boing
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Whoa, slow down there Bud .
I get the good feeling that he won’t be one of the lottery winners who blows it all within three years, as is often the case. Enjoy your toothbrush and flip-flops, sir!
A man with a plan, OK & go get’em tiger.
Very sensible.
My advice is for EVERYONE to get a good electric toothbrush, and either floss or a water pik. Trust me, it is worth the investment.
Approves:
Modest. Practical.
I suspect he just said he was from Florida to throw the spongers off the track.
After taxes, and that toothbrush, and 30 years of brush heads, about $598,000 left.
Subtract another $98,000 in splurges, that’s a half a million. If you use that for retirement, and apply the 4% rule, that’s $20,000 in sustainable income for life. Not too shabby.
A REAL “Florida Man” would have already spent the money on . . . $1million worth of more scratch tickets.
Unfortunately, between state and federal taxes, you generally have to reduce the winnings by 50% to get an accurate measure of how much you end up with.
So he’s starting closer to $500K, still not too shabby.
Florida doesn’t have an income tax, so he’s got that going for him which is nice. On the other hand, he’s in Florida.
As long as he doesn’t buy a real green dress. That’d be cruel.
Some lottery tickets actually have a positive expected value. Buying an individual ticket is still a poor choice, of course, but buying a significant enough number could be rational!
Plus, you get to scratch them all!
Finally someone who deserves his winnings.
Good luck getting that electric toothbrush now, bubby; when the guv’mnt be takin’ half yous money!
Way to go, Brian! Dream big, buddy. Dream big.
Is there such a thing? Maybe some that don’t make that annoying sound.