Poll: Which would you choose?

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  1. #41
    1k a day easy. People taking the lump sum are very bad at future management, unless you're older there is no reason to not take the 1k a day. You'd have a constant revenue stream instead of a slowly dwindling 10 million and investments aren't a guarantee of money back.

  2. #42
    Let's say the federal government takes 25% and the state takes 10%, and assuming you earn at lest 6% return a year by investing.

    10,000,00 *.65 = 6,500,000 *.06 = 395,000 per year.

    vs 1,000 * 365 = 365,000 per year.


    And I didn't even include taxes for the 1,000 option.
    Last edited by Hilhen7; 2018-06-06 at 01:38 PM.

  3. #43
    Void Lord Doctor Amadeus's Avatar
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    Quote Originally Posted by unbound View Post
    $10 million if you understand how to handle it. Considering inflation, the $1k / day won't even reach the current value of $10 million in most people's lifetime.

    Furthermore, $10 million today lets you pay off debts now and still invest the majority of it in a variety of ways which means it will generate more income over your lifetime...making this the easiest choice.

    Note 1: This is why people born to the rich have a major unfair advantage. Having millions handed to them as an adult is worth many, many times more than earning a similar amount over your life.

    Note 2: Understanding how to handle it is extremely important. Most poor people who win the lottery mess up because they think they have unlimited money, and end up in a worse financial situation. Rich people get and stay rich because they were taught early to be jerks and be miserly about their money.

    There is a vast difference between being rich and having a vast income of wealth. Which is why lotto winners go broke.

    1000k a like guarantee by the underwriting is worth a fuck of a lot more than 10 million. It’s credit if you educate yourself and with that kind of money 1000k a day you could. It’s also not enough to get into too much trouble before you learned.


    That’s the difference between the wealthy and those that get rich. It’s also why people who inherit money keep it.
    Milli Vanilli, Bigger than Elvis

  4. #44
    Quote Originally Posted by Varitok View Post
    1k a day easy. People taking the lump sum are very bad at future management, unless you're older there is no reason to not take the 1k a day. You'd have a constant revenue stream instead of a slowly dwindling 10 million and investments aren't a guarantee of money back.
    Yes, because every millionaire got their fortune by saving and not investing.
    My nickname is "LDEV", not "idev". (both font clarification and ez bait)

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  5. #45
    Void Lord Doctor Amadeus's Avatar
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    Quote Originally Posted by Biggles Worth View Post
    10 million up front easy. I can help out many more people now than later.
    You aren’t making 3k let alone 1k a day on 10 million 30 or 90k interest a month. Eh no!
    Milli Vanilli, Bigger than Elvis

  6. #46
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    Quote Originally Posted by X Amadeus X View Post
    $10 Million Dollars USD or $1,000 a day for the rest of your life?

    Why?

    Both are taxed at their standard %
    1.000 dollars pr. day for the rest of my life please.

    It isn't much but I expect or aim for 40 years more, so it'll give me a little over 4 million extra.
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  7. #47
    Quote Originally Posted by X Amadeus X View Post
    However I was talking about interest and on average. 10 million is a nice chunk don’t get me wrong. But if you have a gift for turning that into 1000 a day. You’re probably worth a lot more than 10 million.
    You can put it in almost any wealth management fund and get those returns (seriously, 5% isn't bad, but it's not good either). If feels like you've never talked to a financial planner before.
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  8. #48
    Quote Originally Posted by ldev View Post
    Yes, because every millionaire got their fortune by saving and not investing.
    Every millionaire also had a steady stream of income, which 1k a day would entail. You wanna buy a nice new house with that 10 million? That ROI just went down and will continue to go down on every purchase not bought with the money earned on top of the 10 million.

    Most millionaires/billionaires got their money from a business that made them that. 1k a day is safer and smarter.

    Also ontop of the fact that you would have a lower tax rate for getting the 1k a day, so you'd be saving that way too. This is why people constantly go broke after lottery winnings because of a complete lack of forethought.

  9. #49
    27,

    I'd go for the 1k a day. 7k a week, 364k a year, 3.6m a decade. Two a bit decades covers the costs.

    If I was given 10 mil upfront, I'll be generous and say I'd have blown through two million in the first year at the most. My break down would be roughly

    Two new cars for my folks: <100k (mum would be happy with a nice small car, old man would want a ranger rover)
    Pay rest of their mortgage: 10k.
    Buy the house off them (As they are planning to sell and it's the 'family home'): 250k (Bottom estimate).
    Buy my own place: 500k
    Set aside cash for both houses bills for the rest of days: Easily 300k upwards

    That's just a million to get us all comfortable. Once I dish out some to extended family etc. It'll go easily hit that 2nd million. So that leaves me with 8 ish, which would be great. But then taking into account people pestering you, unexpected costs and the likes, I'd rather not have the hassle so to speak.

    And I also think you need to take into consideration the amount of people who do win large amounts and piss it up a wall in a short amount of time. We can all sit here and say that wouldn't be me, but you never know how it might change you. Especially if you come from a harder background. While it's still possibly to piss up 1k a day on what ever, I'd generally believe it would be harder to fall into a cycle.

    With 1k a day, I can keep living comfortably, help out close family and keep my money relatively quiet.

    I'd also like the feeling of, "Well fuck, I did absolutely nothing with my day off, but hey I made 1k!".
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  10. #50
    Quote Originally Posted by X Amadeus X View Post
    You aren’t making 3k let alone 1k a day on 10 million 30 or 90k interest a month. Eh no!
    My aunt that I live with gets $1,000 a day for 20 years. I know what living with that is like and I choose 10 million now over that. I'd personally will never come close to spending that much money unless I throw it away.

  11. #51
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    Quote Originally Posted by Ripster42 View Post
    You can put it in almost any wealth management fund and get those returns (seriously, 5% isn't bad, but it's not good either). If feels like you've never talked to a financial planner before.
    No you can’t and anyone telling you that bullshit is doing so because you don’t have 10 million or even a million. It’s stupid shit.
    Milli Vanilli, Bigger than Elvis

  12. #52
    Quote Originally Posted by Ripster42 View Post
    You can put it in almost any wealth management fund and get those returns (seriously, 5% isn't bad, but it's not good either). If feels like you've never talked to a financial planner before.
    A financial planner would never tell you to go for a lump sum, its about the future with them and 1k a day gives you a constant stream of revenue until the day you die.

  13. #53
    Quote Originally Posted by X Amadeus X View Post
    $10 Million Dollars USD or $1,000 a day for the rest of your life?

    Why?

    Both are taxed at their standard %
    10 mil, I can take what I don't need and invest it now.

  14. #54
    So, to summarize - 1k a day - very insanely boring people or people who have no idea how money works
    10 mil - people who know something
    My nickname is "LDEV", not "idev". (both font clarification and ez bait)

    yall im smh @ ur simplified english

  15. #55
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    Quote Originally Posted by Biggles Worth View Post
    My aunt that I live with gets $1,000 a day for 20 years. I know what living with that is like and I choose 10 million now over that. I'd personally will never come close to spending that much money unless I throw it away.
    That’s great but you still don’t know how money works. You aren’t getting 10% or half of that on 10 million
    Milli Vanilli, Bigger than Elvis

  16. #56
    1000 a day, it's a lot more money in the long run and is much more sustainable

  17. #57
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    Quote Originally Posted by X Amadeus X View Post
    Well if you have faith in your ability to navigate and invest that’s on you. I don’t know you. Maybe you’re some kind of badass hedge fund guru.

    However I was talking about interest and on average. 10 million is a nice chunk don’t get me wrong. But if you have a gift for turning that into 1000 a day. You’re probably worth a lot more than 10 million.
    You know there are funds for this kind of stuff right? You don't have to invest it yourself if you're that uncomfortable. You can even invest it in a fund while you're figuring out how to invest it for yourself.
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  18. #58
    10 mil upfront, invest 80% of it and prob spend the other 20% to be honest (to include helping my Church , family and friends)
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  19. #59
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    10 Million for sure. I could buy my own Taco Casa and eat like a king for the rest of my life.

  20. #60
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    Quote Originally Posted by ldev View Post
    So, to summarize - 1k a day - very insanely boring people or people who have no idea how money works
    10 mil - people who know something
    That person that doesn’t know how money works is you. It’s also why a lot of people get fleeced being told bullshit they want to hear. Unless you’re a wall street wiz you aren’t making out better than the guy with hookers and drugs.

    The truth is if you’re building any kind of wealth you don’t need 10 million. You need income a never ending pool of resources that can replenish itself or as close to.
    Milli Vanilli, Bigger than Elvis

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