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03-27-2008, 12:33 PM
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#21
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,473
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Quote:
Originally Posted by cjking
There is no tax on lottery winnings in the UK.
He will be paying 40% tax on investment income.
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OK... then he would have $2,000,000 to invest, which with a 4% SWR would yield $80,000. After taxes, that would be $48,000 and that is considerably better! I withdraw my previous rationale for his return to work.
The man just is not wanting to retire....
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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03-28-2008, 06:16 AM
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#22
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Full time employment: Posting here.
Join Date: Sep 2007
Posts: 514
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Quote:
Originally Posted by Want2retire
OK... then he would have $2,000,000 to invest, which with a 4% SWR would yield $80,000. After taxes, that would be $48,000 and that is considerably better!
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Actually, couldn't he "gift" half the money ($1,000,000) tax-free to his wife? Then they'd each draw $40,000 in interest income per year, which would be taxed much more favorably, wouldn't it?
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03-28-2008, 06:23 AM
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#23
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,473
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Quote:
Originally Posted by kombat
Actually, couldn't he "gift" half the money ($1,000,000) tax-free to his wife? Then they'd each draw $40,000 in interest income per year, which would be taxed much more favorably, wouldn't it?
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Apparently not (?):
Quote:
Originally Posted by cjking
There is no tax on lottery winnings in the UK.
He will be paying 40% tax on investment income.
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__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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03-28-2008, 06:41 AM
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#24
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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you want fries with that check? LOL
neat story.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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03-29-2008, 03:19 PM
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#25
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Portland
Posts: 1,708
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I'm surprised. The check was made out to his fiancee/wife.
Maybe he's afraid she is going to dump him and wants a fallback
He'll always have MCD
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03-29-2008, 06:01 PM
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#26
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Posts: 12,880
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I would like to be the kind of person that could enjoy working at McDonald's.
__________________
Al
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03-29-2008, 07:08 PM
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#27
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Quote:
Originally Posted by TromboneAl
I would like to be the kind of person that could enjoy working at McDonald's.
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I see you more as the Burger King type or someplace where they make you sing Happy Birthday a dozen times a shift !
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03-30-2008, 04:11 AM
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#28
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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Well... He can afford to make choices.
I am a little puzzled. As far as personal relationships go... if you can only maintain them by working with the people... there must not be much of a relationship. For that matter, how long do you think the average employees stays at McDonalds?
Personally... It would not be my choice. But then again, I spent years educating myself so I would not have to work at a McDonalds.
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03-30-2008, 05:49 AM
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#29
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
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Quote:
Originally Posted by brewer12345
I work with people who have far more money than that, and (amazingly to me) they still show up every day for a full helping of BS.
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Idiots.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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03-30-2008, 09:05 AM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Or idjets, as we say in Texas...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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03-30-2008, 09:08 AM
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#31
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,004
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I thought it was idjits, but then speling isn't one of my strong points....
__________________
Numbers is hard
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03-31-2008, 10:34 AM
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#32
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Quote:
Originally Posted by Notmuchlonger
Guess I was never lucky enough to find a job I loved.
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I used to beat myself up about that too...
Quote:
Originally Posted by Notmuchlonger
Im almost tempted to find another career...
almost
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... and then one day I realized that ER is my avocation...
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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03-31-2008, 11:21 AM
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#33
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Quote:
Originally Posted by jambo101
He wins 1.3 million and he will continue to work at McDonald's.
I dont think he gets it yet. If he really wants to stay at McD's at least buy the darn place.
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No offence meant, but perhaps you don't get it ...
He doesn't need the extra income, so why should he put up with the inevitable hassles that come with owning and managing a small business? As an employee, he is free of such problems, and can enjoy the social aspect that apparently appeals to him.
P.S. Dunno how old he is, but his new wife looks a lot older than 29!
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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03-31-2008, 11:33 AM
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#34
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 488
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Quote:
Originally Posted by Milton
P.S. Dunno how old he is, but his new wife looks a lot older than 29!
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She looks like she could be his sister.
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03-31-2008, 11:41 AM
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#35
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by Dawg52
Idiots.
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Not a dummy among them, in my estimation. They just have vastly different motivations. Naturally, I don't mention the long term game plan to check out as early as possible...
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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04-09-2008, 04:42 PM
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#36
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Recycles dryer sheets
Join Date: Jun 2007
Posts: 316
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Quote:
Originally Posted by Moemg
I see you more as the Burger King type or someplace where they make you sing Happy Birthday a dozen times a shift !
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My first job was as a dishwasher in one of those restaurants where I had to sing some crappy version of happy birthday that included the restaurants name at least a couple of times per shift while the birthday boy or girl wore an idiotic hat that thousands of previous birthday people had the pleasure of wearing (ICK!!). I think Montana's now does that routine. I remember groaning and being very half hearted about it every time they would come and get me to sing. I earned a grand total of $88.00 at that job and pledged to never work in a restaurant again.
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04-10-2008, 01:42 PM
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#37
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Quote:
Originally Posted by Grizz
My first job was as a dishwasher in one of those restaurants where I had to sing some crappy version of happy birthday that included the restaurants name at least a couple of times per shift while the birthday boy or girl wore an idiotic hat that thousands of previous birthday people had the pleasure of wearing (ICK!!). I think Montana's now does that routine. I remember groaning and being very half hearted about it every time they would come and get me to sing.
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"People can get a cheeseburger anywhere, ok? They come to Chotchkie’s for the atmosphere and the attitude. That’s what the flair’s about. It’s about fun."
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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04-22-2008, 05:41 AM
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#38
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Full time employment: Posting here.
Join Date: Jul 2005
Posts: 588
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Quote:
Originally Posted by brewer12345
Hey, as long as he is happy. I work with people who have far more money than that, and (amazingly to me) they still show up every day for a full helping of BS.
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Quote:
Originally Posted by Dawg52
Idiots.
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Whether it's working at McD's with $2+M in the bank, playing the Wall Street money versus stress game, or spending your day split between internet forum socializing and golf, it's all part of the weird melting pot of life. No idiots out there. Or shall I say that we all look like idiots.
I sort of plan on painting and cutting grass in addition to kiteboard instructing and home rehabbing. Guess I'm an idiot too.
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04-22-2008, 06:35 AM
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#39
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,318
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It is interesting. I too envy people who love their work but I can't really understand loving McDs. I worked as a school janitor all through college and couldn't stand it. The routine was mind numbingly boring. I was a borderline employee because I was always "getting sick." I would rather lounge around with friends than drag myself in and make a few more bucks. I guess I was always attuned to the ER lifestyle, all play and no work makes Donny a happy boy.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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04-22-2008, 09:03 AM
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#40
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 2,360
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Quote:
Originally Posted by donheff
I too envy people who love their work but I can't really understand loving McDs.
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Maybe he just loves the smell of grease in the morning.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
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