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“The prize, which totals $1,000,000, is payable in a financial annuity over 40 years, or the contestant may choose to receive the present cash value of such annuity.” . . around $297,000 after federal and state taxes. That amount invested in a high-yield corporate bond fund (such as VWEAX), with around a 7% annual yield, would provide around $1,700 monthly dividends (before taxes).
“The prize, which totals $1,000,000, is payable in a financial annuity over 40 years, or the contestant may choose to receive the present cash value of such annuity.” . . around $297,000 after federal and state taxes. That amount invested in a high-yield corporate bond fund (such as VWEAX), with around a 7% annual yield, would provide around $1,700 monthly dividends (before taxes).
On top of what he should be able to earn now singing in Vegas and then county fairs.
I don't think he will have to do county fairs to make a good living from this point on. His first CD is doing well on Amazon.com ,unless of course he does one for charity purposes as he has in the past. I read that Frank Sinatra jr produced the string segments on Landau's songs. Sounds like he's doing great!
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