The lottery prize you must win in the US in order to quit your job and retire with peace of mind should be enough to replace all your income for decades to come. At GlobeLiveMedia we tell you how much it could be
Although the odds of winning the Powerball or Mega Millions lottery are slim, and there are generally reasons not to play the lottery, the truth is that the chance of winning enough money to be able to quit your job and retire with peace of mind is very high. tempting enough to spend a few bucks on a lottery ticket.
However, the truth is that even those who win do not have their well-being guaranteed for life. In fact, there are stories of people who had a fortune on their hands and lost it all. So, you may have wondered: Exactly what is the lottery prize that I must win in the United States in order to quit my job and retire with peace of mind?
The answer will surprise you, because it is not a very large sum for the prizes that are announced in the jackpots of American lotteries: approximately $5,000,000 dollars is enough to quit your job and retire. This was stated by Robert Pagliarini, president of Pacifica Wealth Advisors, for the CNBC news network.
The number does not appear out of nowhere. According to Pagliarini, the most important thing is that the lottery prize serves to replace 100% of your income. This means that the profit, when properly invested in a low-risk portfolio, should generate enough returns to equal your current annual salary.
To do this, Pagliarini uses a simple rule: multiply your salary by 70 or 100. In this way, you will have a good idea of what you need to survive, with your current state of expenses, in the following decades.
Considering the median salary in the US (which is $70,800 a year, according to the US Census Bureau), $5,000,000 million seems like the appropriate prize then to not have to work and retire .
In any case, in the event that you win the lottery, remember to comply with the three most important maxims:
- Keeping your winning ticket safe and secure is paramount. In fact, lottery winner advisory experts recommend that you take a picture of yourself holding it and then store it in a safe deposit box.
- If you win, tell as few people as possible to protect yourself from scammers and keep yourself safe.
- Get a team of professionals who assist you at a legal, financial and tax level to advise you to resolve any concerns and problems that arise due to your newly acquired fortune. Remember that winning the lottery is only the beginning of a series of financial adventures that you will have to go through.