1. #1
    OldBill
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    young lady wins 25 k a yaer for life but suoidly took lump sum

    lumps sum after taxes pays her $240,600

    weel with todays high yield savings accounts just 140,000 invested with 14% or as high as 16% after 10 years

    watch this

    year 1 19,600.00 + 140,000.00 = 159,600

    yr 2 22,344.00 + 159600.00 = $217,944.00

    yr 3 30512.16 more than the 25 k per month = $248,456.16

    yr 4 34,783.86 + 248,456.16 = $283,240.02 more than her lump sum after taxes of $240,600.00

    yr 5 39653.60 + = $322,893.62

    yr 6 45,205.10 + = $368,098.72

    yr 7 51,533.82 + = $419,632.54

    yr 8 $58,748.55 + = $478,381.09

    yr 9 $66,973.35 = $545,354.44

    yr 10 $76,349.62 + = $621,704.06
    however these are not brick n mortar banks these are online banks

    but even brick n mortar pay as high as 6%

  2. #2
    DwightShrute
    I don't believe you ... please continue
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    What decade are you living in? Its not 1981 anymore.

    The national average savings account is around 0.60%.

  3. #3
    OldBill
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    ok my local credit union is 6%

    let me see starting with 100K

    yr 1 6000 + = 106,000

    2 = 6360.00 += 112,360.00

    3. 6741.60 + = $119,101.60

    4. 7146.09 + = $126,247.70

    5. 7574.86 + = $133,822.56

    6. 8029.35 + = $141,851.91

    7. 8511.11 + = $150,363.02

    8. 9021.78 + = $159,384.80

    9. 9,563.09 + = $168,947.89

    10. 10,136.87 + = $179,084.76 oooooooo baby get me 100,000 any where

  4. #4
    OldBill
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    Quote Originally Posted by DwightShrute View Post
    What decade are you living in? Its not 1981 anymore.

    The national average savings account is around 0.60%.
    dwight please i know what my rates are this is not a reg piss poor bank it's a credit union google it high yield savings accounts

    and credit karama pays a whopping 4.5% right now just start depositing whatever monthly

  5. #5
    DwightShrute
    I don't believe you ... please continue
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    Quote Originally Posted by OldBill View Post
    dwight please i know what my rates are this is not a reg piss poor bank it's a credit union google it high yield savings accounts

    and credit karama pays a whopping 4.5% right now just start depositing whatever monthly

  6. #6
    Foxx
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    Suoid is as suoid does

  7. #7
    getaloadoffatso
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    Quote Originally Posted by OldBill View Post
    dwight please i know what my rates are this is not a reg piss poor bank it's a credit union google it high yield savings accounts

    and credit karama pays a whopping 4.5% right now just start depositing whatever monthly
    Those are the same as CD's, which are different than savings accounts

    I do agree with you that it would be better to take the yearly option, especially if you're younger

  8. #8
    OldBill
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    i know i read that these online banks only paid highest % but right now cant find who they are

  9. #9
    Optional
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    I think I could turn 240k into more over 10 years than I could with 25k per year.

    Would probably use it to flip property. And probably make more than the credit union pays in annual capital gain, even before rental income or improvements to up the value.

  10. #10
    str
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    It depends on her situation I think.
    If she has a solid understanding of what she is to do and that game plan is sound, good for her.
    But if not, 25k a year can help keep her afloat added to a lower salary.
    Really depends on her understanding the options, her level of education and keeping the sharks in her life away.
    I hope she does for her sake.
    Buying a new ride is hopefully not in her mindset.

  11. #11
    ByeShea
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    Quote Originally Posted by Foxx View Post
    Suoid is as suoid does
    Happy New Yaer

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