Where do you live? In America you can hardly raise a family in any level of comfort of standard of living for less than $100,000 a year. Unless 'life' last 10 years, I don't think 1 mill would make you 'set for life'.
Someone making just 40,000 a year makes over a million before they are 50 and likely have next to nothing left of it.
I will assume that you're joking right? I won't even touch the "six figure" comment too much because there are plenty of people out there doing okay making less than 100,000 a year who have nice cars, houses, go on vacation etc. My wife is a physician and she barely clears 100,000 a year after taxes. You are making a lot of assumptions with that comment, including number of children etc.
If you couldn't figure out how to make 1 million dollars work for you in basic no risk investments, without even touching the prinicipal until the last 20 yrs of your life (I'm 38 now so 14 more years for me until I reach the age of 52, assuming the average life expentancy is 72 yrs old) then I would suggest a financial advisor.
The interest that you could accumulate without touching the principal would go an awful long way towards a very early retirement, along with paying off your home etc. Your credit would rise along with all limits, you'd be collecting some nice interest, and you could pay off any outstanding debts, cars, homes, etc if that's what you chose to do.
That isn't even taking into acct any of the assets that you'd already have such as money in the bank, investments, 401k's, life insurance policies, equity in your home, potential inheritances from parents, any kind of salary, and social security.
I would certainly consider that being "set for life," yes. I'd probably retire at the age of 50 and live a nice prosperous remainder of my days. In the meantime I'd add a nice chunk of money through the interest to my yearly allotment.
These NFL players should be ashamed of themselves for the "feeding my family" comments. Most people will never make a couple/few million dollars in their lifetimes--at least a very high majority. If you are an NFL player and you make several million dollars in your career you should be set up just fine for the rest of your life--yes. That isn't even bringing up the players who make several million dollars in a single year. Welker made 10 million dollars last year. He will not have to worry for the rest of his life, and if he does then shame on him for being a dumba55. It isn't about the money. It's about greed and wanting more and more to have more material possessions. I am 100% positive that Welker could walk away right now and he'd be totally fine forever. In the same vein I am not knocking him for trying to get a fair deal, but let's not act like he "needs" it either. Wes Welker will honestly never need anything as long as he's alive. He's made 15-20 million dollars since he's been in the NFL, maybe closer to 20-25.
