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Previous threads got me thinking...
At what level of cash prize (for the sake of argument, let's say this is the cash-payment option, AFTER taxes... so it's what lands in your bank account(s) after they hand you the big check, and the IRS and State have their bite) do you retire?
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Condo in hawaii, condo in phoenix, bigger sailboat, done.
Here's a picture of me sailing away from it all...
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I must admit... the $5 mil, $10 mil, and up answers surprise me a little...
Some folks must REALLY love their jobs!
I respect that! 
For $1,000,000, I'd spend 2-3 years working, and working with a financial advisor to turn that money into something I can draw on for life... that would take a few years at LEAST before it would be generating a decent yearly payout.
For $2,000,000, I'd work through the end of the current school year, and still work with the advisor.
More than that? Here's my two weeks notice...
More than $10,000,000? I quit today... and by the way, here's a check for $250,000 - train some teachers how to actually USE their computers, and I'll give it to you.
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>>I must admit... the $5 mil, $10 mil, and up answers surprise me a little...
>>Some folks must REALLY love their jobs!
people also differ in their standard of living, investment risk and understanding of long range financial planning.
lets say you have $10 miliion. want to have that same amount next year? It will need to grow by 2-3% to keep up with inflation. Now lets say that you can get by on $100,000 - your money needs to make 4%.
that $10 million has gotten you out of work but you're still essentially middle class.
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mattkime;
Your numbers also assume that they have NOTHING in savings or investments already... May be a good assumption, or not...
It also assumes that a lot of folks wouldn't be OK living a "middle class" lifestyle, without working, for life. Again, maybe yes, maybe no.
Personally, I'd be OK with a "middle class" income from investments...
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Hmm, I clicked on the $5 million amount because that is what was available in the poll. 2 just doesn't get me over the threshold and out the door from working and into retirement. Now $3 million might just do it.
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Paul… PAUL!! WHAT IS THE MATTER WITH YOU??
>>> and by the way, here's a check for $250,000 - train some teachers how to actually USE their computers, and I'll give it to you.
I’ll correct that for you, because you have obviously lost site of what life is all about!
“and by the way, here’s a check for $250,000. YOU — the new 7th grade bio teacher making $22,000;
I want you to be my "love slave" for 3 years. Think this will cover it?”
"What? You have a friend?
"Make that $400,000! Offer her a job - since she’s unemployed! I appoint you master of the harem!
You are her boss! Hire her via your new company, (on the web at LSI.com)
( before you look… that’s LoveSlavesInc.com. It’s available.)
Paul, you’ll obviously need a manager. Send me a PM if you win, we’ll work something out.
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Big difference between "quit" and "retire"--I could probably get my job back if I quit, or another one that pays more enough.
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For mrs. cbelt3 and I need a certain level of healthcare to ensure we live for a few more years yet.
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Probably anything a million or more would require me to at least change jobs unless I could protect my identity through a trust or other means. I think the money would totally change the relationship with my co-workers and create a toxic environment. So, even though I would like to say I'd stay until normal retirement, I'd probably be gone within 6 months.
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