A post over at Frugal Rules prompted me to answer the following question:
Would you return to work after winning the lotto?
Half is gone to taxes. You spend another $1M on a house and earmark another $1M for kids’ college educations. Suddenly, you’re left with just a couple million. First world problems for sure, but it isn’t like you’re going to be buying a Caribbean Island.
However, even winning something astronomical – like $100M+ – doesn’t change the equation for me. I’m still going to work. Why wouldn’t I?! I absolutely love my job. I get bored by the end of summer and cannot wait to get back in the classroom. Even if I do win all that money and donate to all the places I want to donate and still have millions left over, I’d be back to work the next week. Sure, I’d buy a house, and yes I would buy a brand new car. I’d pick up a lot more tabs and be less frugal socially. I would be investing most of the money and traveling with the rest. And I would travel now, and travel often. After all that, I’d probably endow a bunch of scholarships for low-income students and really keep only enough to set up my immediate family with a financially secure future.
How about you? Quitting? Staying on?