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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (8097)	12/27/2005 7:56:59 PM
From: Lane3	Respond to of 542936

I think you exagerate. The interest alone on a million dollars is near the median family income. Well, closer to half, but I'll let it go rather than toss "exaggerate" back atcha. <g> If you take the interest each year to live on, all you have left is the original inheritance. Neither the interest nor the estate is growing. What do you suppose the median family income will be when that kid is twenty? Fifty? Old enough to leave an estate of his own. By the time he dies the million dollars he has withering in the bank probably might not be enough to pay the lawyer to write the will. If you think a million dollars is a big inheritance, you're not considering the value of money in the out years. Even right now, if you have a million dollars in the bank when you retire and no other income, you could find yourself eating the proverbial cat food before your time is up. If you think that's an exaggeration, check out the payouts on annuities.