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Would you rather?

GraySaturdayGraySaturday Posts: 2,878
edited June 2011 in All Encompassing Trip
Take a 2500 dollar a week for life prize or a 1.9 million one time pay out if you won the 2500 a week for life lotto ticket?

Not that I have the choice, I'm just a fan of the ticket and would kill to win. So would you take the money and run or try to out live the 1.9?
Post edited by Unknown User on
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Comments

  • polaris_xpolaris_x Posts: 13,559
    if it caps out at $1.9 ... i would take it all at once ... if it doesn't ... i'll take the $2,500 weekly ...
  • GraySaturdayGraySaturday Posts: 2,878
    polaris_x wrote:
    if it caps out at $1.9 ... i would take it all at once ... if it doesn't ... i'll take the $2,500 weekly ...

    No it's 2500 for life, as long as you live... But not transferable to another family member. So no cap. Just a gamble you won't be hit by a bus the next day.
  • conmanconman Posts: 7,493
    definately 2500 a week
  • dimitrispearljamdimitrispearljam Posts: 139,549
    at once...and give it for free in the forum..but before that, ill buy all the seats at Alpine and make it a GA show.. :lol:
    "...Dimitri...He talks to me...'.."The Ghost of Greece..".
    "..That's One Happy Fuckin Ghost.."
    “..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
  • polaris_xpolaris_x Posts: 13,559
    GraySaturday wrote:
    polaris_x wrote:
    if it caps out at $1.9 ... i would take it all at once ... if it doesn't ... i'll take the $2,500 weekly ...

    No it's 2500 for life, as long as you live... But not transferable to another family member. So no cap. Just a gamble you won't be hit by a bus the next day.

    well ... in thinking about it some more ... i will take the $1.9 ... although it's only 15 years to get to the $1.9 .. i can pretty much retire my parents which given the opportunity is a no-brainer in retrospect ...
  • GraySaturdayGraySaturday Posts: 2,878
    dimitrispearljam wrote:
    at once...and give it for free in the forum..but before that, ill buy all the seats at Alpine and make it a GA show.. :lol:

    Wow either people in Greece are really nice, or really crazy! :lol:
  • foursymbolsfoursymbols Posts: 527
    2.5 grand weekly!! Awesome to have that money coming every week regardless... Lump sums come with problems/hassle, folk with their hands out looking for somemit... :x
    'It's a sad and beautiful world' - Mark Linkous
  • dimitrispearljamdimitrispearljam Posts: 139,549
    GraySaturday wrote:
    dimitrispearljam wrote:
    at once...and give it for free in the forum..but before that, ill buy all the seats at Alpine and make it a GA show.. :lol:

    Wow either people in Greece are really nice, or really crazy! :lol:
    both... :shock: :lol::lol:
    "...Dimitri...He talks to me...'.."The Ghost of Greece..".
    "..That's One Happy Fuckin Ghost.."
    “..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
  • foursymbolsfoursymbols Posts: 527
    dimitrispearljam wrote:
    at once...and give it for free in the forum..but before that, ill buy all the seats at Alpine and make it a GA show.. :lol:

    Would you not give it to your Government?? They need it badly... ;)
    'It's a sad and beautiful world' - Mark Linkous
  • dimitrispearljamdimitrispearljam Posts: 139,549
    foursymbols wrote:
    dimitrispearljam wrote:
    at once...and give it for free in the forum..but before that, ill buy all the seats at Alpine and make it a GA show.. :lol:

    Would you not give it to your Government?? They need it badly... ;)
    fuck them.. :lol::lol:
    "...Dimitri...He talks to me...'.."The Ghost of Greece..".
    "..That's One Happy Fuckin Ghost.."
    “..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
  • deskilladeskilla Posts: 279
    dimitrispearljam wrote:
    foursymbols wrote:
    dimitrispearljam wrote:
    at once...and give it for free in the forum..but before that, ill buy all the seats at Alpine and make it a GA show.. :lol:

    Would you not give it to your Government?? They need it badly... ;)
    fuck them.. :lol::lol:

    YEAH!!! it's all about PEARL JAM :D
  • PureandEasyPureandEasy Posts: 5,799
    $2500 weekly for sure
  • RKCNDYRKCNDY Posts: 31,013
    weekly...taxes on $1.9m lump sum would only leave me with about $1m, which I could make in about 7.69 years (give or take a few years) with the weekly payments.
    The joy of life comes from our encounters with new experiences, and hence there is no greater joy than to have an endlessly changing horizon, for each day to have a new and different sun.

    - Christopher McCandless
  • polaris_xpolaris_x Posts: 13,559
    RKCNDY wrote:
    weekly...taxes on $1.9m lump sum would only leave me with about $1m, which I could make in about 7.69 years (give or take a few years) with the weekly payments.

    lottery winnings in canada are not taxed
  • dimitrispearljamdimitrispearljam Posts: 139,549
    polaris_x wrote:
    RKCNDY wrote:
    weekly...taxes on $1.9m lump sum would only leave me with about $1m, which I could make in about 7.69 years (give or take a few years) with the weekly payments.

    lottery winnings in canada are not taxed
    Greece,10% taxis..
    "...Dimitri...He talks to me...'.."The Ghost of Greece..".
    "..That's One Happy Fuckin Ghost.."
    “..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
  • RKCNDYRKCNDY Posts: 31,013
    polaris_x wrote:
    RKCNDY wrote:
    weekly...taxes on $1.9m lump sum would only leave me with about $1m, which I could make in about 7.69 years (give or take a few years) with the weekly payments.

    lottery winnings in canada are not taxed

    lucky you...uncle sam has to stick his grubby mitts into everything and anything that has to do with money...loved one boss I had...he gave us cash holiday bonuses.
    The joy of life comes from our encounters with new experiences, and hence there is no greater joy than to have an endlessly changing horizon, for each day to have a new and different sun.

    - Christopher McCandless
  • rick1zoo2rick1zoo2 Posts: 12,632
    forgetting about taxes for the moment, if you were to put that $1.9 million in an investment that earned 5%, and took out $2500 per week, it would last 26.25 years.
  • GraySaturdayGraySaturday Posts: 2,878
    rick1zoo2 wrote:
    forgetting about taxes for the moment, if you were to put that $1.9 million in an investment that earned 5%, and took out $2500 per week, it would last 26.25 years.

    True, but most people don't have the discipline to put it all away. 1.9 buys you a pretty nice single family house here in the city. Can you imagine blowing it all on that?! I would take the 2500 so I wouldn't have to work and I could pursue my hobbies on my own time.
  • klusterfukklusterfuk Posts: 1,411
    rick1zoo2 wrote:
    forgetting about taxes for the moment, if you were to put that $1.9 million in an investment that earned 5%, and took out $2500 per week, it would last 26.25 years.
    thats the way to go
    The future's paved with better days

    Alpine Valley Resort is etched in my brain!!!


  • rick1zoo2rick1zoo2 Posts: 12,632
    GraySaturday wrote:
    rick1zoo2 wrote:
    forgetting about taxes for the moment, if you were to put that $1.9 million in an investment that earned 5%, and took out $2500 per week, it would last 26.25 years.

    True, but most people don't have the discipline to put it all away. 1.9 buys you a pretty nice single family house here in the city. Can you imagine blowing it all on that?! I would take the 2500 so I wouldn't have to work and I could pursue my hobbies on my own time.

    It's funny to think that $1.9 is not enough to retire for good. I think I would take the lump sum, pay off all my debts and put the rest someplace where it would have a decent rate of return to grow. Without any more debt payments to make, I would get a significant increase in disposable income that I could use to add to savings. With those things, I could start to think about early retirement or changing careers.
  • GraySaturdayGraySaturday Posts: 2,878
    rick1zoo2 wrote:
    GraySaturday wrote:
    rick1zoo2 wrote:
    forgetting about taxes for the moment, if you were to put that $1.9 million in an investment that earned 5%, and took out $2500 per week, it would last 26.25 years.

    True, but most people don't have the discipline to put it all away. 1.9 buys you a pretty nice single family house here in the city. Can you imagine blowing it all on that?! I would take the 2500 so I wouldn't have to work and I could pursue my hobbies on my own time.

    It's funny to think that $1.9 is not enough to retire for good. I think I would take the lump sum, pay off all my debts and put the rest someplace where it would have a decent rate of return to grow. Without any more debt payments to make, I would get a significant increase in disposable income that I could use to add to savings. With those things, I could start to think about early retirement or changing careers.

    I know just the other day I was like, dude it sucks.. I'd need to win like 50+ million to never worry again. Maybe that's wrong but I feel like unless you literally have millions and millions you and your family is never totally protected. 1.9 would hardly pay off my student loans. :lol: just kidding.. Kind of
  • jasonjason Posts: 468
    Lump sum so I can live it up. I can give it to the folks and sis and still work part-time to keep busy. Interesting dilema, and would love to have the choice! PJ20 with $1.9 million in the pocket, that is alot of posters.
  • blackredyellowblackredyellow Posts: 5,889
    Weekly... I'm betting I live longer than 16 more years, and even if I didn't I can up my life insurance a bit to cover that chance for my family.

    The $1.9 upfront would be great, but I think it would be easy to get carried away over time and go through that. With $2500 a week, that is a $130,000 yearly salary for the rest of your life. I'm not a tax expert, but I would think that, you'd pay a lower percentage based on that salary, than $1.9 million in one tax year.
    My whole life
    was like a picture
    of a sunny day
    “We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
    ― Abraham Lincoln
  • RKCNDYRKCNDY Posts: 31,013
    I still would take the weekly payments...I could live off $5000 a month, put the rest into an account, and I'm sure eventually I would earn more money than the $1.9m in 26.25 years.
    The joy of life comes from our encounters with new experiences, and hence there is no greater joy than to have an endlessly changing horizon, for each day to have a new and different sun.

    - Christopher McCandless
  • blackredyellowblackredyellow Posts: 5,889
    rick1zoo2 wrote:
    forgetting about taxes for the moment, if you were to put that $1.9 million in an investment that earned 5%, and took out $2500 per week, it would last 26.25 years.

    True, but how much of that $1.9 would you get after taxes to start with?
    My whole life
    was like a picture
    of a sunny day
    “We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
    ― Abraham Lincoln
  • JTHJTH Posts: 3,238
    GraySaturday wrote:
    1.9 buys you a pretty nice single family house here in the city.
    Ummm... Pretty nice? I live in a "pretty nice" single-family house (4BR/3BA) in the city and it isn't worth ANYWHERE NEAR 2 million dollars.
  • rick1zoo2rick1zoo2 Posts: 12,632
    having said that, $2500 a week for life is not bad too. I am 42, so in my other calculation, the lump sum would last 26.25 years. I am 42 years old, so that would get me to about 69. Lets say I live to be 84, then the $2500 per week would add up to be $5,460,000, again forgetting about taxes for the moment. Not a bad deal.

    In that situation I would keep working and use the $2500 per week to pay everything off, then save, probably figure out a target number to hit so that savings plus the $2500/week would make a comfy retirement or be able to change careers.
  • 8181 Posts: 58,276
    RKCNDY wrote:
    weekly...taxes on $1.9m lump sum would only leave me with about $1m, which I could make in about 7.69 years (give or take a few years) with the weekly payments.

    if you are going to tax the 1.9, you might want to think about taxing the 2500 :?
    81 is now off the air

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  • rick1zoo2rick1zoo2 Posts: 12,632
    The 81 wrote:
    RKCNDY wrote:
    weekly...taxes on $1.9m lump sum would only leave me with about $1m, which I could make in about 7.69 years (give or take a few years) with the weekly payments.

    if you are going to tax the 1.9, you might want to think about taxing the 2500 :?


    exactly, but I am thinking that the annual taxes on the $2500 per week might be less than the tax if you took the whole $1.9 million in one year?
  • 8181 Posts: 58,276
    rick1zoo2 wrote:
    having said that, $2500 a week for life is not bad too. I am 42, so in my other calculation, the lump sum would last 26.25 years. I am 42 years old, so that would get me to about 69. Lets say I live to be 84, then the $2500 per week would add up to be $5,460,000, again forgetting about taxes for the moment. Not a bad deal.

    In that situation I would keep working and use the $2500 per week to pay everything off, then save, probably figure out a target number to hit so that savings plus the $2500/week would make a comfy retirement or be able to change careers.

    i'd retire today and live well on 2500 per week. that's 130,000 per year before taxes.

    i'd move back home, buy a nice house, and party it up.
    81 is now off the air

    Off_Air.jpg
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