Social Would you rather inherit 20 million dollars when you turn 18 or spend the time earning 100 million dollars in your lifetime?

[Takes_Two_To_Tango]

I suspect if you did studies on people who fall into these two camps, the ones who earned it would score higher on satisfaction and success in life by any normal metric.

Just getting 20 million that young for nothing would lead to all sorts of wild outcomes and it would largely deincentivize a lot of personal development.

Nothing is set in stone though, but I think the odds would be in your favour if you earned that money.

Yeah, that's a valid point.

 

[Takes_Two_To_Tango]

Seeing the poll result, you can understand why there are not many successful people.

Getting a windfall out of no work will likely make most people blow it within a short duration and likely make their life worse after because they will be sitting around doing nothing hoping for the next windfall to drop. Most, not all.
Most people think/believe they will make sensible financial decision but likely won't, especially at 18. Again, most, not all.

We cherish what we worked for and earn. Not random airdrops that fell on your lap.

Took me less than 2s to choose the latter option but not surprised at the poll result.

EDIT:
When person that gained a large sum of money by random and lose it, they are likely not able to get the money again.

However, when the person worked for it and loses it, they have the capabilities to earn it back and more. This is why you see businessmen that goes bankrupt come back stronger. Obviously survivor bias is there, but even more rarely do you hear people get fortunate back if they strike "lottery".

Interesting insight, thanks.

 

[Takes_Two_To_Tango]

Imagine being 18-year-old with almost zero life experiences and having 20 million dollars in your pocket. Lol at the people who say they would invest it. I can almost promise you the majority of people won't be making smart choices. Just look at all those lottery winners who go broke. It's the same mindset. The only investments you guys will be making is in Logan Paul's NFT or doge coins

Now working towards 100 million dollars over your lifetime will surely make you cross paths with experiences. The amount of failures you will come across. Things you will learn along the way. Money does not come easy and for you to generate 100 million probably means you had to go through hell and back.

Another valid point, thank you.

 

[Takes_Two_To_Tango]

A lot of sherdoggers have a very high opinion of their hypothetical investing abilities. Most lottery winners end up broke, 80% of pro athletes go broke within 3 years of retirement, so pretty sure a 1 time $20 million at 18 is going to have about a 99% rate of being broke by 30. Tax takes a bunch, you buy some stupid shit, and non stop women throwing themselves at you with the goal of either divorcing you and taking half, getting knocked up for massive child support, or if they don't get knocked up they can say it wasn't consensual years later and sue you for several million. If you're a naive 18 year old, various women will end up with like 2/3 of before you even turn 25.

This is probably true for the most part, thanks.

 

[Bacco]

20mil should be obvious pick, but 18yo me would have surely somehow fucked up everything with all that money at once

Give me 100mil through life

 

[Osculater]

If I had 20 million at 18 I would probably be broke in 5 years

 

[Osculater]

I tried investing my $10k at 18, but got told no because of my age. I had the wisdom, so I'm sure the larger amount would have made them overlook my age.
As for the "I'd rather earn it" crowd, fuck that. I'll find my sense of self-satisfaction elsewhere.

Who told you no?

 

[chardog]

inherit, a friend of mine has made 10's of millions, the problem is that he didnt make those millions till his 60's.........

 

[PaleMoonlight]

Imagine being 18-year-old with almost zero life experiences and having 20 million dollars in your pocket. Lol at the people who say they would invest it. I can almost promise you the majority of people won't be making smart choices. Just look at all those lottery winners who go broke. It's the same mindset. The only investments you guys will be making is in Logan Paul's NFT or doge coins

Now working towards 100 million dollars over your lifetime will surely make you cross paths with experiences. The amount of failures you will come across. Things you will learn along the way. Money does not come easy and for you to generate 100 million probably means you had to go through hell and back.

That might be most people but I was already hustling and selling candies in grade school. I'd know how to take care of the money. I'd take that $20 million instantly and invest that shit.

 

[Skarsgard]

Who told you no?

Financial company like Edward Jones and Northwestern Mutual. They told me to save up for a few more years. Ended up getting bled dry by a slumlord less than a year later.

 

[Jack Reacheround]

Is the 100 million over the course of my lifetime adjusted for inflation?

 

[Osculater]

Financial company like Edward Jones and Northwestern Mutual. They told me to save up for a few more years. Ended up getting bled dry by a slumlord less than a year later.

Damn that's fvcked up on both accounts

 

[Skarsgard]

Damn that's fvcked up on both accounts

That's life. I'm sure some algorithm told them I was too risky.
As for the slumlord, they fucked over enough tenants and sold the property last I heard. Hopefully the next guys did something about the malfunctioning security door, black mold (freshly painted over), and roaches all over.

 

[no fat chicks]

20 million is worth a lot more to young me
Wtf I'm gonna when I'm 70?

 

[Gandzooka]

How is the 100 million distributed? Like a million per year? All at once 1 minute before you die?

 

[HeffDoesWant]

$10m to play with
+
$10m earning 4% p.a = over 100m by the time you are 80.

 

[Mangar]

Earning the money is much more rewarding than inheriting it.

 

[Two Crows]

70% of lottery winners go bankrupt within a few years of winning, with ~33% bankrupt inside of 4 years.

The list of celebrities who earned more money than they could count very quickly, and ended up broke, is long.

I'd take the safe bet and earn the money over the lifetime, much less likely to blow it.