I know, I know...I haven't blogged in a long time. And, I also haven't been very active in reading, commenting or really all things "blog". But, I am trying to turn over a new leaf. TBF has been on my case now for a long time about it, so today I decided that there's no time like the present, so here I am again. The big question for me is do I have anything that interesting, amusing, intelligent or otherwise compelling to say??? Well, at the moment I must admit that I really don't. But, maybe you do, so I'm going to pose a question. But first, a prelude to the question....
As you've read, TBF and I were back in Chicago for a few days together. At the end of one of my biz trips I flew to Chicago to meet him and spend the weekend visiting family and friends...frantically moving from one place to another to see as many people as possible in a short time. Luckily, things worked out pretty well and we got to see some people that we weren't able to hook up with last August. I always end up feeling bit stressed though and I would hate for people to feel as though we rushed through the visit. One evening we had what I would call a pretty relaxed dinner with Jo Mama. It was relaxed in that she didn't protest to drinking a glass of wine, having soup and a burger, and even a few spoonfuls of our shared dessert. The restaurant wasn't crowded and I generally didn't feel we were rushed out the door to turn a table which is usually the case on a Friday night. We also had a nice conversation which was not littered with angst or guilt over anything...not an easy thing for Jo Mama who worries about EVERYTHING! When we left Jo Mama's house to go to the restaurant, TBF announced with confidence that he was looking forward to his (our) mega-million dollar lottery winnings, but first we needed to remind him to buy some Lotto tickets. On the way to dinner we forgot to buy the winning ticket, but on the way home Jo Mama and I made sure that he bought the winning ticket.
Well, as you may have guessed, we did not win the Lotto. Our spread of numbers was absolutely pathetic. But, the nice thing about the Lotto is that it always gets you thinking. If you didn't think there was a chance to win you wouldn't buy a ticket, right? I honestly believe that every single person who buys a ticket, even if it's just one ticket believes that he or she can and will win. Who doesn't eagerly review the winning numbers against their own ticket(s) with anticipation? And who doesn't think about what they would do if they won...the big one???
So, prelude over. TBF and I are no different. We've had the conversation about what we'd do if we won. We've talked about our "magic number" that we'd need for me to join him in retirement. We've discussed buying a home, or maybe two. We've talked about our investment strategy. So, now the questions....
1. What's your magic number - what size lottery would you need to win to feel you could retire?
2. What's the first thing you'd buy?
3. Would you take a lump sum or an annual annuity, and why?
Well it is great to see you blogging. I know that P has his magic numbers. I on the other hand have never played.
1. The size? Not sure - pretty big as it seems these days. 12 mil?
2. Not sure, probably a bigger place to live or take some time to think about how to invest.
3. Lump sum - maybe, but I think annual would be better so that you are accustomed to a certain amt. Here in Canada you don't pay taxes on the winnings themselves. That's much different than in the US.
But definitely a great question, especially when you can dream.
I'm not sure I would want to ever fully retire. I need something to do to stay active and engaged, whether that's a part-time job or volunteer work. That said...
1. It depends on the annuity timeline (see 3), but somewhere in the range of 10M should work.
2. A six-month world tour.
3. An annuity because it's a guarantee of income into the future.
Hi Mrs. TBF!!
My hubby and I have talked about this one before... We wouldn't need much, I tell ya.. Just something in the million category... that's all... We usually forget to buy a ticket.. but whenever we do, we always hold on to the hopes that that time may be IT!! We haven't won yet, though!! Gotta play more, I think!!
We would be a house, or two... I think in Les Landes, near the beach... and someone in another country- not sure where... We would quit work and travel the world..
I think annual is better.. Then you won't spend it all at once! Plus, I think with lump sum, you get less in the end...
1. $4 million. That combined with our current savings would be more than sufficient for both of us to retire.
2. A modest house (in the U.S.), and a nice - but not exorbitant - car.
3. Definitely an annual annuity. Dealing with $200,000 per year is much easier (and less risky) than having to deal with a large lump sum all at one time.
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