Back home again in Indiana . . . as a...

Back home again in Indiana . . . as a millionaire

There are 22 comments on the The Indianapolis Star story from Oct 16, 2007, titled Back home again in Indiana . . . as a millionaire. In it, The Indianapolis Star reports that:

Jack Keefer spent the past weekend in Memphis, Tenn., and found his former point guard doing just fine.

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Oita, Japan

#21 Oct 17, 2007
More than a college degree, I'd recommend a good financial advisor. Live off the interest, kid! Don't dip into principal!
Kiddin yourself

United States

#22 Oct 20, 2007
teacher wrote:
He needs to go to college. Good luck this year Mike!!!
WHY? Again I ask, is it to secure a future? You don't think 12 million dollars does that nicely?

Let's do some math-teacher,

12 million divide by half for taxes
leaves 6 million,
take out a million in spending on a house, car, some other nice toys and that leaves 5 million.

5 million in about any account with a money manager will generate 10%, that means he has $500,000/year- forever!
Let's say he doesn't want to put it with a money management group- just T-bills (the only way those fail is if the United States collapses and if that happens his money will be the least of our problems), 5 million, currently at 4,185% on T-bill rates generates $209,250 per year. Still not too shabby!!
Beats the heck out of that salary you're knocking down, teach!

So again I ask, why does he need to go to college - unless he just wants to?

Bill Gates has done ok without it, hasn't he?

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