By Michelle

November 13, 2008 3:17 PM | Link to this

YOU DAMN SKIPPY I WOULD QUIT

By Mosell

November 13, 2008 3:18 PM | Link to this

After taxes that would be $300,000.00 I would pay off my house, all credit debt, fund my daughters 529 plan. put $200,000 in the bank and take a month off then go back to work.

By Mel B.

November 13, 2008 3:18 PM | Link to this

I’d continue to work as long as I feel good enough to get up and do the job. Having the $$$ would just give me the comfort of knowing that I can resign whenever I want to — an option I don’t currently have.

By Harley Chick

November 13, 2008 3:21 PM | Link to this

Yes!!!!LOL

By C Note24

November 13, 2008 3:21 PM | Link to this

In this day’s economy heck no I would try to preserve and spend less as I could. You don’t have to live in a hole but, I think if you cut out FREVILOUS spending in your budget then you’ll be okay! I’m telling you it’s only going to get worser that’s all i’m saying.

By MoutainDawg

November 13, 2008 3:23 PM | Link to this

Mr.Steele is a wise (& lucky) man. Depending if he has kids, etc. $500K (especially after taxes) isn’t enough for a 35 year old to retire on (unless he/she lives very simple or doesn’t plan to live long). I’ve got 4 (younger) kids & there’s no way I’d quick working with a $5K or even $1 million dollar windfall. However, I would want my wife to quit working with a $500 mil winning.

For me to retire, and be able to live comfortably, put kids through college, etc. It’d have to be (at least) $5 million (after taxes). I’d still work, but doing whatever I wanted.

By The Truth

November 13, 2008 3:24 PM | Link to this

You couldn’t quit for long on $500k. Like Mosell said pay off all debt and use it to make your life much more enjoyable. It’s alot different going to work if all you’re paying is your utilities.

By had enough

November 13, 2008 3:25 PM | Link to this

ABSOLUTELY!!!!!!!

By Tom Davis

November 13, 2008 3:25 PM | Link to this

I wouldn’t be around to tell my boss I quit. I would be at the Pink Pony.

By B4Real

November 13, 2008 3:34 PM | Link to this

I couldn’t afford to quit with only 500k! I’d pay off my mortgage and other debts, set up fund for kids and take my a$$ right on back to work! Even with mortgage paid, taxes and insurance still must be paid, as well as utilities. I’d have to have at least 2 mil to quit work, but even then, hubby couldn’t, health insurance is expensive!

By los

November 13, 2008 3:35 PM | Link to this

Yea i think he is doing the right thing working. pay off that debt, and keep most of the money tied up in safe investments, and then make life comfortable knowing you can do whatever you want when you want. cause you can’t expect 345k to last the rest of your life when you are 35 years old. gotta at least work to keep health benefits and a little bit of money coming in.

By NoBama

November 13, 2008 3:37 PM | Link to this

Not only would I not Quit,I would keep only the amount I would need and spread the rest of the wealth around to the less fortunate. After our President elect wants us to do that. I know I would not spend that money as properly as others would.

By los

November 13, 2008 3:38 PM | Link to this

Yea i think he is doing the right thing working. pay off that debt, and keep most of the money tied up in safe investments, and then make life comfortable knowing you can do whatever you want when you want. cause you can’t expect 345k to last the rest of your life when you are 35 years old. gotta at least work to keep health benefits and a little bit of money coming in. not you probably could live off a million; i think you would get about 50k in interest off a mill every year and thats a decent living. I work all year and still dont bring that much home. :-(

By los

November 13, 2008 3:38 PM | Link to this

Yea i think he is doing the right thing working. pay off that debt, and keep most of the money tied up in safe investments, and then make life comfortable knowing you can do whatever you want when you want. cause you can’t expect 345k to last the rest of your life when you are 35 years old. gotta at least work to keep health benefits and a little bit of money coming in. not you probably could live off a million; i think you would get about 50k in interest off a mill every year and thats a decent living. I work all year and still dont bring that much home. :-(

By what I would do....

November 13, 2008 3:38 PM | Link to this

Yes I would continue working. I would pay tithes, pay off all my debts, give some to family and friends, and invest the remaining (to include a down payment on a nice home).

By what I would do....

November 13, 2008 3:40 PM | Link to this

Yes I would continue working. I would pay tithes, pay off all my debts, give some to family and friends, and invest the remaining (to include a down payment on a nice home).

By DIPPER

November 13, 2008 3:40 PM | Link to this

HELL NO, keep working… Do you know how fast $345,000 will spend… Payoff house ($100,000), payoff car ($10,000), new car ($40,000), debt ($5,000), home remodeling ($20,000), savings ($100,000), vacation/misc… ($5,000)

Leaves you with $20,000….

Priceless…

By Debora

November 13, 2008 3:40 PM | Link to this

Who could quit work and retire off %500 K ($345 K after taxes)? Your health insurance for a single person would be at least $6 K a year. If you were lucky enough to find a CD for 5% you would have $17,250 a year in interest.

So you would quit work, live in a shack, eat Ramen noodles, and watch TV all day because that is all you could afford on that retirement package. What a bunch of stooges! What a dumb question.

Pay off my house and other small debt, and put the rest in the bank. When layoffs happen, I would have the stability to say, well so what!

By B4Real

November 13, 2008 3:41 PM | Link to this

I would also keep my name and pic out of the paper!

By I still love the A-T-L

November 13, 2008 3:48 PM | Link to this

If it’s somewhere in the 100 plus million then You better believe it. After i donate to the church, buy a house outright and put money away in the bank for my retirement and kids college fund, i would then take a less stressful job somewhere close to home. The way things are now, i’d rather clean dog cages than deal with the crap i deal with now.

By Buzzards

November 13, 2008 3:51 PM | Link to this

B4REAL ain’t that the truth! The buzzards (oh I mean friends and relatives) would be circling to pick your carcass clean! I probably wouldn’t even make it out of the lottery office without hearing poor-mouthing!

By MrLiberty

November 13, 2008 3:53 PM | Link to this

Why not quit your job and spend all the money on frivolous garbage? Once Obama is in power he is going to pay off everyone’s mortgage, send checks to everyone who isn’t working and has behaved irresponsibly. If I just go back to work and pay my bills and save for my future, all I will be doing is providing a ready source for him and the democrats to steal from. I might as well have some fun with the money now. At the rate the printing presses are running in Washinton, $500,000 will soon be worth what $50 bucks is worth today. Don’t believe me, google “Zimbawe inflation” and see what you get.

Not that the Bush administration is doing anything but rewarding society’s irresponsibles either. Seems like another good approach might be to use the money to purchase a failing company and then go to washington for a handout.

That’s the new american way.

Maybe once going back to work was noble, now its the suckers way. Four years from now it will likey be viewed as the least popular thing to do with your life among school kids.

By NoBama

November 13, 2008 3:55 PM | Link to this

Not only would I not Quit,I would keep only the amount I would need and spread the rest of the wealth around to the less fortunate. After our President elect wants us to do that. I know I would not spend that money as properly as others would.

By earl

November 13, 2008 3:56 PM | Link to this

Not only would I not Quit,I would keep only the amount I would need and spread the rest of the wealth around to the less fortunate. After our President elect wants us to do that. I know I would not spend that money as properly as others would.

By earl

November 13, 2008 3:57 PM | Link to this

Not only would I not Quit,I would keep only the amount I would need and spread the rest of the wealth around to the less fortunate. After all our President elect wants us to do that. I know I would not spend that money as wisely or as properly as others would.

By earl

November 13, 2008 4:02 PM | Link to this

Not only would I not Quit,I would keep only the amount I would need and spread the rest of the wealth around to the less fortunate. After all our President elect wants us to do that. I know I would not spend that money as wisely or as properly as others would.

By Buzzards

November 13, 2008 4:05 PM | Link to this

NOBAMA OR EARL WE GOT IT STOP IT

By MrLiberty

November 13, 2008 4:08 PM | Link to this

I don’t believe that you are allowed to keep the amount you need under the new plan. All must be shared. And you are correct - you don’t know how to spend your money as well as government bureaucrats do. I mean that should be clearly evident from the fact that the government has nearly $100 trillion in unfunded liabilities while all you can manage to do is keep your checkbook balanced every month. What good are you to the economy?

By Chel

November 13, 2008 4:11 PM | Link to this

That is not enough money to live off, unless you’re 95 years old! That would bring more comfort to my life by giving me the ability to pay down debt faster. I would cut my hours down at work, pursue a higher degree and invest. But, that’s definitely not enough money to live the rest of my life, at my age.

By Bdawg

November 13, 2008 4:18 PM | Link to this

$500,000 is a lot of money, but at his age (and mine) you cannot live off that the rest of your life, unless you want to live like a hobbit. That’s not really lifestyle changing money, other than the fact if you spend wisely you will never have to worry about paying bills, etc. I would pay off my house, travel, spend on house renovations/furniture, but nothing crazy. Now if you absolutely hated your job I’d quit and have time to find a better one.

By GA College Student

November 13, 2008 4:19 PM | Link to this

Yes I would keep my job! Anything could happen.

By MC

November 13, 2008 4:29 PM | Link to this

Reality check here folks. $345K is not enough to quit working on unless you’re a couple of years from retirement anyway and just need that amount to put you over the edge of what you do need to retire. If you hate your job, it might buy some time to quit and find a new job. Unless you’re over 55 or 60 with a huge savings already, quitting with a $345K windfall is not an option.

Take the money, pay off 100% of your debt, do a few nice things if you have any left over, invest the rest, keep working and invest what used to be your mortgage payment, and you’ll do just fine.

By Emotional

November 13, 2008 4:29 PM | Link to this

Very sad getting depressed just got work will be umemployed in Dec. Wish I could win that money. Surely there has got to be jobs somewhere it’s hard for me to beleive so many people not working and now I will be in the numbers. Lord help my breaking heart, but I will find a job in Jan. I’m sure of that.

By Emotional

November 13, 2008 4:31 PM | Link to this

Very sad getting depressed just got work will be umemployed in Dec. Wish I could win that money. Surely there has got to be jobs somewhere it’s hard for me to beleive so many people not working and now I will be in the numbers. Lord help my breaking heart, but I will find a job in Jan. I’m sure of that.

By Nurse Ratchet

November 13, 2008 4:40 PM | Link to this

If I had a job at the current moment, sure, I’d still keep on working. Idle hands and an idle mind (and all that)…

Keep you chin up, everybody…

Peace

By Glen

November 13, 2008 4:42 PM | Link to this

$345,000 after taxes really is not enough to retire. Definitely a good start though. :)

I would certainly be debt free and much better off than if I didn’t have the money.

The problem with many lottery winners is that they spend their winnings as if the money is going to keep coming in.

This guy sounds grounded in reality and will hopefully avoid the pitfalls.

By JB

November 13, 2008 4:48 PM | Link to this

That is not enough money to quit working but it would be a nice addition to retirement.

By Daisey

November 13, 2008 4:49 PM | Link to this

I would keep working,the way the economy is $300,000.00 is not that much money.

By DB

November 13, 2008 4:53 PM | Link to this

Yes, of course. Let’s face it, $300,000+ is a nice start to a nest egg, but it sure doesn’t make for an early retirement!

Now, when we get into the $20 million category, ask me again … :-) And even then, it may be that my work will change to something different — but I will always work at something.

By K

November 13, 2008 4:55 PM | Link to this

I’d definitely keep working. That’s not enough to retire on, but it buys a lot of peace of mind and makes retiring earlier a real possibility.

By Dee

November 13, 2008 4:57 PM | Link to this

Well, considering I’m a Realtor in Atlanta in this economy, I wouldn’t have the prividge of deciding if I should work or quit. I feel like I’m unemployed already with no clients and none on the horizon!

But, I would pay down all my debt and go on one heck of a vacation - leaving a little in the bank for the future.

By Puddin' Pop

November 13, 2008 5:02 PM | Link to this

Of course I’d keep my job.

While 500K is a nice chunk of change, one certainly cannot retire from it.

Well, unless you wanted to live like a pauper…

Pudddin’…OUT!

By MountainDawg

November 13, 2008 5:19 PM | Link to this

Emotional - Hang in there & keep up the faith. It’s a rough market (& may get worse), but persistence & flexibility should pay off!

P.S. - With a $375K (post payoff to “Uncle Scam” + more for lawyers, fees, etc.), I’d pay off all debt & my parents debt (which isn’t much), set up larger investments for the kids, a fat retirement account. I’d also tithe & give to a few deserving (legit) charaties. No way I’d quit my current job on less that $5 mil (post taxes) & that’d be unlikely. $10 mil+ (post tax) would be 100% though! One can always (pipe)dream! :-)

By dre

November 13, 2008 5:22 PM | Link to this

Those of you trying to explain to other mental midgets that $350K is not enough to retire on are almost as bad as them. Jeez

By cheese

November 13, 2008 5:24 PM | Link to this

if i was lucky enough to win the lottery i would still work. even if i won $500 million. i have 2 toddlers and i wouldnt want them to see their dad just sitting at home. i probally would work part time up until they graduate high school and then stop working.

By NObama

November 13, 2008 5:25 PM | Link to this

Since I don’t have a job, no, I wouldn’t “keep” it…but if I did, I’d definitely quit instead of giving half of what I make to Obama for “share the wealth”. This is the main reason I am not even LOOKING for a job. Why work when he’s going to support me?

By Dee

November 13, 2008 5:31 PM | Link to this

Although $500,000 would be a blessing, it’s not enough for me to quit work. But a sistah will have an at-ti-tude at work! It would nice to see the haters!

By Retire...get real

November 13, 2008 5:42 PM | Link to this

There is NO way to “retire” on $500k. After taxes, a family of 4 could live maybe 3-3 1/2 years.

By catlady

November 13, 2008 5:44 PM | Link to this

I’d catch up my retirement payments (35 years in ed but some withdrawn to go to grad school) and I would be out as soon as they interviewed my replacement.

By catlady

November 13, 2008 5:48 PM | Link to this

I’d catch up my retirement payments (35 years in ed but some withdrawn to go to grad school) and I would be out as soon as they interviewed my replacement.

Currently no debt(house paid for, cars paid for, no credit card debt), and I could live off my retirement ($50,ooo plus a year and SS eventually) so I would also like to help my kids and endow a low cost/free spay and neuter clinic.

By Tolkein says...

November 13, 2008 6:08 PM | Link to this

$500,000 is a lot of money, but at his age (and mine) you cannot live off that the rest of your life, unless you want to live like a hobbit.

Do you mean live like a hermit?

Because hobbit’s are hedonistic folk who love good food and drink and other homey pleasures. Living like a hermit might let you survive on $350K, but living like a hobbit would have you back in the pipeweed fields in a couple of years ;-)

By Matthew

November 13, 2008 6:24 PM | Link to this

if you think you can survive on $345k for the rest of your life, then you are sadly mistaken. You, like, most other lottery winners will end up in the trailer park buying your cartons of smokes and 12 packs of busch in less than 5 years.

By Raul

November 13, 2008 7:15 PM | Link to this

Mathew… very ignorant and immature comment buddy…

By Ghost

November 13, 2008 7:35 PM | Link to this

Anyone who would quit after ONLY winning $500K is a fool unless they were quitting to go back to school to make more money later.

$500k after taxes is $300K which would only last a few years. If you can get 5% interest, that’s still only $15K/yr before taxes.

By KB

November 13, 2008 7:45 PM | Link to this

He should continue to work. He needs to continue to work because your wants in life get bigger when you get some more money away….

Me, I would go back to grad school full time, pay off my bills, and work a job part-time until I graduated from grad school. $345K is not alot of money these days.

By mm

November 13, 2008 7:52 PM | Link to this

Put all 345K in the current market, say USG stock. In three years you would be worth millions with only long term capital gains to pay.

By HerbK

November 13, 2008 8:16 PM | Link to this

why, of course not! That’s enough money to live like a king. A new tent, probably a new Bunsen stove. New sleeping bag. At least 4-8 cases of canned cat food, for when winter arrives, 6-8 cases of sardines, and of course, bullets. Probably enough left for a few cans of coffee. Whew, good times.

By NavyMom

November 13, 2008 8:35 PM | Link to this

No I wouldn’t quit either. He seems to love what he does. Not too mention you wouldn’t get far if you quit your job depending on a $500,000 lottery win(before taxes). @Cheese - now if I won $500,000,000 - I wouldn’t care if I had 10 toddlers - I would quit as soon as the check cleared my account and start my own business. I definitely wouldn’t work someone’s job punching a clock. :-)Seriously I do get what you are saying. I am sure you would quit a corporate job and do something productive to instill values in your kids.

By Pablo

November 13, 2008 8:47 PM | Link to this

I would not quit. I would pay off all my debt, and keep working, because I really enjoy doing what I do. Besides, doing nothing would drive me crazy!

By NavyMom

November 13, 2008 8:47 PM | Link to this

@By MountainDawg - you have really made my day. That was such a nice considerate thing to say. We need more of those post - Ditto that Emotional - hang in there and stay prayed up. Here are the websites if you are interested:

www.alpineaccess.com www.west.com www.liveops.com www.elance.com www.odesk.com

Also if you have at least a two year degree you can do substitute teaching in Gwinnett County and it’s not a lengthy procedure.

By NS

November 13, 2008 9:23 PM | Link to this

$345,000 (after taxes) is not that much.It’s smart to continue working, I would. I would just pay off all my credit cards, student loans, and car and save the rest and continue working.

By MariLaTica

November 13, 2008 11:12 PM | Link to this

Hell no, I wouldn’t go to work! I don’t want to go now that I’m broke. I all I need to be totally debt free is about $30k. So with $500k I’d be gone until next fall!

By bonbon

November 14, 2008 7:59 AM | Link to this

I won 1 Million on the lottery and I am still working! After tax I was left with nearly $700,000. I’m just having fun with the money. paid off all my debts, bought a couple of new vehicles, having some upgrades done on my home and have a good amount of money in a money market account. I can retire in a few years instead of a lot of years! My husband is only hopeing that lightening strikes twice and he can win over $5 mil. He wants me to retire now and travel with him! Now that would be nice! but in the mean time, I’m just comfortable!

By TW

November 14, 2008 8:18 AM | Link to this

If it were me I would quit my current job and travel some. After which I would more than likely return to school and just work part time while reinventing myself. I’m 38 years old, single with no kids or real dependents. And even with the most wisest of investments and the most frugal of life styles $300,000 (after taxes) would not last me indefinitely, especially if I am blessed to live 30 more years or so. One things for sure though, with $300,000 in the bank (in investments, etc.) I definitely would be working because I WANTED TOO and NOT because I had too like I do now. I would definitely pay off ALL debt, bless my church, several other ministries, charities, etc., my family, friends. Other than leaving the work force for a little while, there’s not a lot that I would change about my lifestyle. I would probably continue to rent but just move into a nicer apt.

By StuStu

November 14, 2008 8:20 AM | Link to this

There is no way that I would not go back to work if I won $500,000.00. I would go back if I won $50 Million. I like my job and I would not want anyone to ever know that I had that much money, so I would have to work to maintain the facade of upper lower middle class.

By TW

November 14, 2008 8:20 AM | Link to this

If it were me I would quit my current job and travel some. After which I would more than likely return to school and just work part time while reinventing myself. I’m 38 years old, single with no kids or real dependents. And even with the most wisest of investments and the most frugal of life styles $300,000 (after taxes) would not last me indefinitely, especially if I am blessed to live 30 more years or so. One things for sure though, with $300,000 in the bank (in investments, etc.) I definitely would be working because I WANTED TOO and NOT because I had too like I do now. I would definitely pay off ALL debt, bless my church, several other ministries, charities, etc., my family, friends. Other than leaving the work force for a little while, there’s not a lot that I would change about my lifestyle. I would probably continue to rent but just move into a nicer apt.

By TW

November 14, 2008 8:21 AM | Link to this

If it were me I would quit my current job and travel some. After which I would more than likely return to school and just work part time while reinventing myself. I’m 38 years old and even with the most wisest of investments and the most frugal of life styles $300,000 (after taxes) would not last me indefinitely, especially if I am blessed to live 30 more years or so. One things for sure though, with $300,000 in the bank (in investments, etc.) I definitely would be working because I WANTED TOO and NOT because I had too like I do now. I would definitely pay off ALL debt, bless my church, several other ministries, charities, etc., my family, friends. Other than leaving the work force for a little while, there’s not a lot that I would change about my lifestyle. I would probably continue to rent but just move into a nicer apt.

By turnin2

November 14, 2008 8:44 AM | Link to this

Sure I’d still work…I’d work on my tan, my body, traveling….

By kristin

November 14, 2008 9:10 AM | Link to this

Hummmmmm 35 years old, $500,000 after taxes about 350,000 divided by 40 (assuming he is planning on living to about 75) you have a whopping $8,750 a year. Yeah I’m pretty sure I’d go back to work myself.

By Mrs. Ryans

November 14, 2008 9:16 AM | Link to this

My husband is a lottery winner. Everyone thinks because you when the lottery you have to quit working. He won 2.5mill and everyone thinks that we are millionaires which we are NOT!!! He recieve a check every year for twenty years and after taxes the check doesnt last the whole year until he gets the next one. So you cant just up and quit just because you win the lottery unless it is the big jackpot!!

By GaNative

November 14, 2008 9:23 AM | Link to this

I would definitely quit. I would upgrade to about a 1998 Chevy Cavalier since I currently drive a 1995 Cavalier. I would bank the rest of the money and live off the interest. I would only give my family members the $12,000 each year as a gift to avoid taxes ($24,000 to the married couples) around christmas time.

By Get It Right

November 14, 2008 9:40 AM | Link to this

Quit? On $345,000? No, especially with Comrade Obama taking office. He’ll have his hands all over what’s left within months.

I also note that HAMAS is firing long-range missiles at Israel and Iran is test firing missiles. Prediction #1. With Obama in office, Israel will be attacked because the Islamofacists know Obama won’t honor our promises to our allies.

By GaNative

November 14, 2008 10:11 AM | Link to this

Israel usually does a dayum good job of taking care of themselves. Just ask the Palestinians. Everytime they get attacked, they go in there and kick azz leaving no hostages, unlike the U.S. where we try to fight a war like humanitarians.

By Franklin

November 14, 2008 10:32 AM | Link to this

Yes, I would. After taxes u don’t have $500,000. With this economy I will put it up just in case my company lay me off. I have been through a Lay off. A man have to work to eat. Work on brother!

By Sagegirl

November 14, 2008 10:54 AM | Link to this

Let’s see, after taxes leaves 348K. First pay off mortgage. Then 100K for renovations to house. A new truck for hubbie. New car for me. That leaves 50K. Yes I would continue to work, but I would take a much needed vacation first.

By ccs

November 14, 2008 11:37 AM | Link to this

I would pay off our house and credit card so we would be debt free. I wouldn’t quit my job. If I invested well, I would hope to retire early! I would save some and use some to travel to places that I’ve never been able to afford before.

By Rene

November 14, 2008 1:21 PM | Link to this

No, I wouldn’t quit my job. I would pay off all of my debt, put money away for son’s college education just in case there are no scholarship offers and like someone said earlier, put the remainder in the bank for the days, months and years ahead. It’s going to get worse before it gets better.

By Rene

November 14, 2008 1:22 PM | Link to this

No, I wouldn’t quit my job. I would pay off all of my debt, put money away for son’s college education just in case there are no scholarship offers and like someone said earlier, put the remainder in the bank for the days, months and years ahead. It’s going to get worse before it gets better.

By Sherry

November 14, 2008 1:38 PM | Link to this

Its amazing how every story’s blog turns into an attempt to drag Obama through the mud. People when you do that its obvious you are harboring jealousy and hatred. There are so many ignorant folks ready to bash a well deserving gentleman for achieving goals they only WISH they could. Wannabeees get over it every article is not about Obama…….hello!

By Rufus

November 14, 2008 2:01 PM | Link to this

Yes, I’d keep my job. Half a million in today’s economy is chump change.

By iamadogperson

November 14, 2008 3:26 PM | Link to this

I would not leave my employer in a bind. I would stay and train someone else in my position. But I am 60+ and I am tired ! Right, $500K probably won’t go far these days. So I might want to have something parttime.

By Mark

November 22, 2008 3:41 PM | Link to this

$500,000 isn’t alot of money. You can’t retire on it. I would invest it wisely, and keep working.

By caleb

December 30, 2008 2:17 AM | Link to this

I will continue to work simply because I have to do something to occupy my time while I’m waiting to die.