Would you take $1000 a week for life or one-off $1 mil?

I would take the $1,000 per week. I bet a lot of former athletes who made millions wish they were getting $1,000 per week right now.
 
I would take the 1mil and with investments I could make more than the 1k a week and have all the money available
 
1k a week of passive income. Personally, I could live off of that, but I'd surely keep working jobs that I deem enjoyable, so yea. Ballin'!
 
WandySaku2 said:
1k a week of passive income. Personally, I could live off of that, but I'd surely keep working jobs that I deem enjoyable, so yea. Ballin'!
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I doubt u would be bothered to listen to your boss 8 hours a day for less than 2k a month.
 
TS left out a little detail which would impact the outcome of any educated decision maker...

The teenager decided to take the weekly sum after consulting a financial adviser said that the $1,000 figure is not taxed.

Patrice Lavoie, a spokesman for the lottery corporation, said: ‘It’s without taxes so it’s equivalent to a salary of more than $100,000 (£55,000) a year, so it’s a great start in life for that young lady."

Life lesson...never go low budget on your CPA
 
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Sadly in this day of age, I would take the mill..

Don't know how long you gonna be around to collect $1000 every week.

Just save and invest it wisely.
 
Panmisiek said:
I doubt u would be bothered to listen to your boss 8 hours a day for less than 2k a month.
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Depends on the job. I said ones I find enjoyable. I've had menial jobs in the past that if they were actually lucrative, I'd still be doing it (small town grocery store manager for example). It was great for social interaction. I walk dogs because I love dogs, the outdoors and the random situations I end up in. I'd keep doing it if I was getting 52k/year on top of that. I haven't had an overlord in years.
 
Uptown Swinger said:
I would take the $1,000 per week. I bet a lot of former athletes who made millions wish they were getting $1,000 per week right now.
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this ^. It's a built in safety net from yourself.

Few years ago I started getting phone calls from different people some relatives some said they were relatives and some said claiming they knew me congratulating me and asking me for money. Come to find out someone with the exact same first and last name as me won a $3,000,000 lottery. After tax and lump sum deduction he walked away with about $1,300,000. About 10 months later I start getting calls from bill collectors, and different people about defaulting on payments, even got a call that "the check for your daughter's girls scout cookies bounced" the best was a call from a phone sex service that my credit card had been declined. All related to the same guy, turns out the guy burned through all the money in under a year.
 
Since it's tax free on the 1k, 1k per week and spend the first decade investing most of it.
 
I would take the 1K a month untaxed vs the 1 million taxed at 50%.
 
Since it is tax free, I would probably take the $1,000, otherwise I would take the lump sum. What a lot of people don't factor in is a concept called the "time value of money." Put simply $1,000 won't be worth $1,000 in the future. At recent historical inflationary rates, $1,000 will only have the buying power of $500 20 years from now.
 
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Fine, I'll say it;

lucky fucking bitch!


(was her first time buying a ticket; I've never bought one so it could be me next)


fingers_crossed_01.jpg
 
Grand a week. My lifestyle wouldn't change much but I could easily retire on 1000 a week if I didn't have to work.
 
a former co-worker won the ontario scratch ticket that pays out one thousand per week. the game was called "cash for life"(small catch: Life = 25 years. so that is 1.3 mil) . lucky fucker.
 
if you buy a 1M house, you can likely rent it for 4k/month and its value and lease will only increase with time.
 
PG29 red0 Jr said:
I would take the 1K a month untaxed vs the 1 million taxed at 50%.
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If that's the scenario, then I agree.

If it's actually $1 mil untaxed I would have to think about it. $52k/year garauntee untaxed annuity for life is very nice. Yes in theory you could make much more money on investing that $1 million, but not everyone are risk takers and poor investment strategy or unlucky timing could significantly hinder your gains. If you treated that $1 mil as part of a long term investment and kept it nearly untouched for decades, then it could pay off big time even with a modest compound. Even at 15 years untouched at a modest 5% would put you over $2 mil. Even if you invested the entire $52k/year every year for 15 years at 5% it would barely crack $1.1 mil. If you kept the entire $1mil untouched for 30 years and averaged 8% rate of return it would be over $10 million by then.
 
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