But then you are in the $1mm tax bracket so you actually lose money.
The mathematical, EV obsessed side of me voted 45% chance at 30 mil. However, if someone walked up to me right now and actually made the offer with $950k cash on hand, not sure that side of me would hold strong. 30 mil is fuck you money though, where as Iām too young for 950k to be that. I think the value of each changes depending on age. If I was 75+, 950k would be much more enticing.
Definitely going for the 30 mil. I think if youāre living check to check or struggling to survive the $950k is probably the way to go. And yeah age is obviously a big part of it too.
Other people taking the $950K: at what percentage do you take the shot at $30M (assuming you cannot sell your EV)?
Gamboool!
- $950,000
- 1% chance at $1 billion
950k would be life-changing money for me, but only to the extent that I have financial security more or less wrapped up.
Give me $30 million and my life might get ruined and I am, literally, probably not getting it anyway.
Arenāt the black rocks of the world going to take it all anyways?
This is a lot tougher than it seems for me. I donāt have kids and donāt need that much money.
But Iām thinking this is pre-tax, so $425k-ish vs. I can do anything I want with my remaining years, I went for the $30M.
If it was $1M post-tax vs. $30M post-tax, I might go with the $1M.
From where I sit, $1B and $30M feels the exact same to me. Of course once I have $1B Iāll look down at the working stiffs with $30M.
85%+
Iām a bit older than average here, and live on a modest pension plus whatever I make from poker. I have pretty much everything I want or need, and $950k is plenty to flesh out the rest of my life. If I took the $30m over the $950k the only difference between those scenarios would be that I would die with a bigger bank account. My lifestyle would be identical either way.
My wife would want me to shoot the shot though. Sheās a bit more materialistic than me.
This is probably a harder question than it seems since 30 million is a ridiculous number to people whose car is the most expensive thing they own if they donāt have a house. 950K means I can probably retire at some point. 30 million means I can live in hotels for the rest of my life. Itās hard to imagine what that kind of money is when your idea of splurging is a $200 meal or $100 pair of shoes.
What about a 45% shot at the 950k or a lifetime supply of Carlās Jr?
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Well fuck you then.
Rigged.