20 ms·
> On an initial lump sum of $1MM, hat's $35K-40K/yr, not $12K per year. (I'm not sure where the 7% came from in your post.) The original poster calculated the
by vonmoltke 9y ago
> On an initial lump sum of $1MM, hat's $35K-40K/yr, not $12K per year. (I'm not sure where the 7% came from in your post.)
The original poster calculated the value off the $1.8MM (not the tax-deductible number), and simultaneously made a place value error ($12k/year is 0.7%, not 7%, of $1.8MM).