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[–]Whizwicky1 point
15 points
16 points
(+16|-1)
ago
100 million. If I lose, it's not a huge deal, because nothing in my life changes. If I took the million, I could invest it and pay down some debt, but nothing in my life would really change, I still have to show up to work the next day, and I'd probably regret not taking a chance for the next 60-70 years.
The regret point is an interesting one to make. For the rest of your life, assuming you blow the million somehow, whenever you find yourself in need of money, you'd ask yourself "What if I had taken the chance?"
Then you would have just blown 100 million instead of one. It's the same reason lottery winners end up broke - they suck at managing money. If they were good at it, they wouldn't be playing the lottery.
[–]Whizwicky0 points
2 points
2 points
(+2|-0)
ago
Exactly.
And as for blowing the million, just don't act like a lottery winner. Don't blow it all on depreciating assets, and don't spend it on family and friends, because it won't make them love you more.
I'd take the one million. Although the risk is tempting due to the ridiculous risk/reward, in the end: A bird in the hand is worth a million in the bush.
Don't know why everyone would take the milli. It really doesn't go as far as it used to. With the other option I have a 50% chance of retiring before I hit 30. If I don't win it, then life hasn't changed for me. Things aren't so bad now, so the 50% chance is a much more lucrative offer. On average, people would get 50mil from the latter option, while you can only get 1/50 of that with the first.
Are you assuming 100% of people who invest their million will exceed the 100mil? If anything you've now traded a concrete 50% to bank on your ability to invest and multiply that million (which will be significantly less than a mil after taxes). I know - and I hope you know too - that many times your business ventures don't turn out "all profit" like you planned them. The investors making real money have a lot more to work with than a measly 1mil. To always come out in the green you need to be a big fish now, or have good luck. I think I'd rather take the 50% chance at an early lavish retirement.
I don't want to retire. I love what I do for a living. A million bucks is more money than I know what to do with, to say nothing of 100 million. It makes more sense to me to take the million than to gamble with that much money.
It's not gambling since you didn't put any money up against it. It is just a chance. Obviously you don't have to retire, that's just a personal plus I see out of the 100mil.
If the trade off was you are either broke or you get the 100mil then I could see how this is gambling, but not getting it would mean you keep working at the job you say you love. Doesn't sound so bad to me
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[–] [deleted] 0 points 24 points 24 points (+24|-0) ago
[–] flarflar 0 points 1 point 1 point (+1|-0) ago
I know I would too knows my luck I would have to hand over my life
[–] MinorLeakage 0 points 19 points 19 points (+19|-0) ago
Always take a sure thing over a chance at something better. Anything else is crazy I tell you!
[–] Sippio 0 points 5 points 5 points (+5|-0) ago
Even if it's a Mystery Box?
[–] Whizwicky 1 point 15 points 16 points (+16|-1) ago
100 million. If I lose, it's not a huge deal, because nothing in my life changes. If I took the million, I could invest it and pay down some debt, but nothing in my life would really change, I still have to show up to work the next day, and I'd probably regret not taking a chance for the next 60-70 years.
[–] 5168752? 0 points 6 points 6 points (+6|-0) ago
The regret point is an interesting one to make. For the rest of your life, assuming you blow the million somehow, whenever you find yourself in need of money, you'd ask yourself "What if I had taken the chance?"
[–] ForgotMyName 0 points 7 points 7 points (+7|-0) ago
Then you would have just blown 100 million instead of one. It's the same reason lottery winners end up broke - they suck at managing money. If they were good at it, they wouldn't be playing the lottery.
[–] Whizwicky 0 points 2 points 2 points (+2|-0) ago
Exactly.
And as for blowing the million, just don't act like a lottery winner. Don't blow it all on depreciating assets, and don't spend it on family and friends, because it won't make them love you more.
[–] TremorAcePV 0 points 3 points 3 points (+3|-0) ago (edited ago)
Bro, annuities are great "For life" things. So for example, if I had $50K, I could invest it in an annuity and get paid $200ish per month for life.
If it scales, which I don't remember if it does, $500K would be $2000 per month. $1Mil would be $4000 per month.
$48,000 a year for life means no work necessary. :D Even then, if you did work, it'd be great supplemental income.
[–] brucethemoose 0 points 11 points 11 points (+11|-0) ago (edited ago)
That's easy.
Sell the $100 million gamble to a rich investor for $40 million, walk away.
[–] goatsandbros 0 points 3 points 3 points (+3|-0) ago
An investor this rich would probably be smart enough to offer you $2 million (take it or leave it).
[–] brucethemoose ago
It's a competitive market. Just ask someone else, play them off each other.
[–] purr 0 points 1 point 1 point (+1|-0) ago
You're clever. That would work...if they believed you.
[–] 5168250? 0 points 7 points 7 points (+7|-0) ago
I'd take the one million. Although the risk is tempting due to the ridiculous risk/reward, in the end: A bird in the hand is worth a million in the bush.
[–] SocratesOP 0 points 3 points 3 points (+3|-0) ago
Don't know why everyone would take the milli. It really doesn't go as far as it used to. With the other option I have a 50% chance of retiring before I hit 30. If I don't win it, then life hasn't changed for me. Things aren't so bad now, so the 50% chance is a much more lucrative offer. On average, people would get 50mil from the latter option, while you can only get 1/50 of that with the first.
[–] [deleted] 0 points 4 points 4 points (+4|-0) ago
[–] SocratesOP 0 points 2 points 2 points (+2|-0) ago
Are you assuming 100% of people who invest their million will exceed the 100mil? If anything you've now traded a concrete 50% to bank on your ability to invest and multiply that million (which will be significantly less than a mil after taxes). I know - and I hope you know too - that many times your business ventures don't turn out "all profit" like you planned them. The investors making real money have a lot more to work with than a measly 1mil. To always come out in the green you need to be a big fish now, or have good luck. I think I'd rather take the 50% chance at an early lavish retirement.
Just my perspective.
[–] oedipusaurus_rex ago
I don't want to retire. I love what I do for a living. A million bucks is more money than I know what to do with, to say nothing of 100 million. It makes more sense to me to take the million than to gamble with that much money.
[–] SocratesOP ago
It's not gambling since you didn't put any money up against it. It is just a chance. Obviously you don't have to retire, that's just a personal plus I see out of the 100mil.
If the trade off was you are either broke or you get the 100mil then I could see how this is gambling, but not getting it would mean you keep working at the job you say you love. Doesn't sound so bad to me
[–] Slightedfury 2 points 3 points 5 points (+5|-2) ago
I can make a hundred off the one.