It sounds like a huge amount of money, and it would last longer in rural Indiana than other places in the US, but it won't last as long as you think.
There's actually a calculator that tells you how long you can expect a certain amount of money to last depending on how much you need to spend each month on rent, food, bills, car payment, health insurance etc. If you had a VERY low rent, no debt, and didn't require paid child care it might last you around 10 years.
When will $300,000 run out? How long will my savings of 300,000 dollars last?
Thank you as always most informative it gives me some insight to how Amercian society is structured and how it affects individuals with certain needs and how their decisions may be affected.
If you needed to totally rebuild your life because this person is in jail (new place to live, new car, someone to watch your kid while you worked), if you had a lot of kids, or if you needed skilled nursing care, the money won't go very far. If your credit is bad, you might not ever be able to replace some things because you don't qualify on your own. Child care sometimes costs more than women can earn when they work.
I'd also point out that there are often conditions on the reward money such as, the person needs to be convicted of the crime before the reward pays out. What are you going to live on while the trial drags on?