If I won the average £2,053,984 prize for the UK National Lottery jackpot, I would not only be able to retire, thus saving those 64,400 hours, if I stuck that in a bank at 5% interest I would get £102699.20 a year—nearly four times my current salary. So I could actually be saving 239,631 ‘hours’ over that 35-year period.
I’m not sure how it works in the UK, but in the US, the advertised jackpot figures are lies—they actually give you an annuity which pays out a total of that amount over its lifetime, and then tax the payouts.
I’m not sure how it works in the UK, but in the US, the advertised jackpot figures are lies—they actually give you an annuity which pays out a total of that amount over its lifetime, and then tax the payouts.
It’s different in the UK—it’s paid out as a tax-free lump sum.