[SoothingDave]

$52,000 per year, before taxes is nice, but it’s not exactly life-altering like winning $100 million.

[GreenHornet]

$52,000 per year, before taxes is nice, but it’s not exactly life-altering like winning $100 million.

You're right. In 2012, $52,000 a year is not bad for an 18 year old kid. As others here have pointed out, 10 or 15 years from now, it won't be worth that much. Hopefully, he'll realize that this isn't an endless supply of money, and will act accordingly. If he's smart about it, he will be able to build upon this windfall and make a nice life for himself in the years ahead.

[riverrunner]

There are lots of places in the country where you can have a very good life on 52000 a year.

If one spends wisely

[Smokin' Joe]

Knowing you have the back-up of 52K a year can give someone otherwise reluctant to take the sort of risks to start a business a bit more confidence. Starting with whatever is left of a Million as backup/initial capital isn't bad, either. It's one heck of a leg up to better things if he plays it right.

If he goes nuts and starts spending it on all sorts of junk or partying, he's likely going to suffer more than benefit, and may not live to collect for long.

I pray, for his sake, he does well with it and avoids the common (and not so common) pitfalls of windfalls.