Show of HandsShow of Hands

Jack14 June 10th, 2014 2:06am

You are given $2.5 Million today on condition you will never receive any more money for the rest of your life. Do you think you would be able to live comfortably?

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KatG Liberal in Ohio
06/09/14 9:11 pm

Yep! I'm the one taking the deal so I can't earn money but my husband can still earn money right?

presrvd Phoenix
06/09/14 8:48 pm

I don't think so. By my calculation (very rough guesstimate), I need about another 14-17 years before $2.5M would be 'comfortable'. That's assuming the kids go to an in-state college.

Axl752 NY
06/09/14 8:46 pm

You can't earn interest off of that money? If not then no, If yes then yes.

RJ1969 SoCal
06/09/14 8:23 pm

Could I live comfortably? Probably. Would I take that deal in exchange for making as much as I can for the rest of my life? No.

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DGroot America
06/09/14 8:10 pm

Not yet. I would accept the offer if I was 60.

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dawl adulting
06/09/14 7:57 pm

If I can't invest it then no.

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Liberty 4,032,064
06/09/14 7:46 pm

If I'm barred from working or investing, then no.

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146787456777 .......
06/09/14 7:39 pm

if I can't invest or collect interest, no. if I can do both of those then yes. I picked no since the question says you can't get any more money

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Praetorianus Fair enough.
06/09/14 7:30 pm

Ok, so even if I can't invest I'll still get interest on a savings account. Subtract $500,000 for a small house, fully furnished, that leaves $2 mil. I'm 48. If I live 40 more years, it's $50k per annum, inflation compensated by interest. Green light

Praetorianus Fair enough.
06/09/14 7:32 pm

Just don't throw taxes or any more restrictions at me besides not investing, that's unfair.

Jack14 Massachusetts
06/09/14 7:40 pm

Age is a big factor.

Praetorianus Fair enough.
06/09/14 8:23 pm

Definitely. It would be risky even at my age. Suppose inflation speeds up and I make it to 2050, think optimistic, but am broke. Who wants to hire an 85 y/o geezer who is totally alienated from work, not having held a job in 36 years. I'd be screwed.

RJ1969 SoCal
06/09/14 8:23 pm

It would be more than that with the right annuity.

Diogenes FreeMeBe
06/09/14 7:15 pm

Unless the dollar collapses as the world's reserve currency, yes.

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TeaPartier Dont Tread on Me
06/09/14 7:14 pm

I think I could live off that, but I still feel like it'd be a bad deal. Especially since I'm a young person.

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Jack14 Massachusetts
06/09/14 7:16 pm

Agree. Also think of inflation.

TeaPartier Dont Tread on Me
06/09/14 8:07 pm

So true. Good point. If I was 65, I'd take the money.

Cole12 ...
06/09/14 7:13 pm

Sure. I'd invest $1.5M in various fixed income products - at a 3% yield, that's around $45k in income. I could live on that. I'd probably move to South America, buy a nice place on the beach, and invest the rest opportunistically.

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Jack14 Massachusetts
06/09/14 7:14 pm

For sake of argument, let's say you cant invest any of the money.

Cole12 ...
06/09/14 7:18 pm

Then my answer's no. If I had to keep it all in USD, and couldn't invest or hedge, that's extremely risky. Who knows what the dollar will be worth in a few decades.

Jack14 Massachusetts
06/09/14 7:20 pm

Well let's also say it was somehow known to you the dollar will be stable with current inflationary rate.
I say no. If i was allowed to invest, I say easily yes.

Cole12 ...
06/09/14 7:26 pm

Agreed - I'd say no. I mean, after you buy a house, a few cars, and whatnot, you're probably down to $2M. I could live another 60-70 years, that's only $30k a year to live on. That's definitely doable right now, but who knows what kind of medical...

Cole12 ...
06/09/14 7:27 pm

expenses I'll incur later in life. Plus, what would I do with all my time? But yeah, if I could invest it, I'd go yes.

CodySTL Southern Illinois
06/09/14 7:10 pm

I think I can make more than that, so I wouldn't take it.

Jack14 Massachusetts
06/09/14 7:12 pm

Same. My friends thought I was being stupid.

Jack14 Massachusetts
06/09/14 7:08 pm

All my friends said I was crazy for saying no. They said I am too ambitious in terms of what I want for standard of living. What say you?