Flagpole you have no idea what it is like to have that much money. It is a full time job and if you are hiring a company to manage your money, then you are also taking a risk, if you care about the money. But since you are so noble as to give it away, you won’t miss it anyway.
You also do not know what it is like to have that kind of money. Trust me though, if I had a billion dollars, I would NOT be working 40 hours a week managing that money.
Flagpole you have no idea what it is like to have that much money. It is a full time job and if you are hiring a company to manage your money, then you are also taking a risk, if you care about the money. But since you are so noble as to give it away, you won’t miss it anyway.
If I had a billion dollars I wouldn’t care about managing it, I wouldn’t need a return on it and even if it lost 90% of its value it’s more than I could ever spend anyway.
Flagpole you have no idea what it is like to have that much money. It is a full time job and if you are hiring a company to manage your money, then you are also taking a risk, if you care about the money. But since you are so noble as to give it away, you won’t miss it anyway.
If I had a billion dollars I wouldn’t care about managing it, I wouldn’t need a return on it and even if it lost 90% of its value it’s more than I could ever spend anyway.
Flagpole you have no idea what it is like to have that much money. It is a full time job and if you are hiring a company to manage your money, then you are also taking a risk, if you care about the money. But since you are so noble as to give it away, you won’t miss it anyway.
If I had a billion dollars I wouldn’t care about managing it, I wouldn’t need a return on it and even if it lost 90% of its value it’s more than I could ever spend anyway.
Why would you want the $1 billion? It seems everyone fantasizes about it and nobody has a clue what they would do with it. Flagpole says he would give it away. Well what is the point then? Why do you want it? It gives you more options. No doubt. But you probably don’t know what you would do? Or do you?
Sounds like this idiotically unrealistic uninteresting premise is still going on and has now moved on to the even more idiotic premise that the $1B is already gotten and it’s now just a matter of figuring out what to do with it.
For all the math people out there, your math games would say it would be better value to go for the $1 billion even if it was only a 1 in 200 chance, but almost none of you would take that choice, despite what the math tells you.
For anyone in middle class or lower class, take the money. 100k invested at worst means retirement comes sooner. You have an 86% likelihood of having to work at least a few extra years as compared to the former. Already rich? Do whatever
For anyone in middle class or lower class, take the money. 100k invested at worst means retirement comes sooner. You have an 86% likelihood of having to work at least a few extra years as compared to the former. Already rich? Do whatever
Poor people should take the billion dollar chance too. That kind of money would feed, clothe, cover tuition, and house you, your parents, your siblings, your extended family, your children, your children's children, and so on.
With $100,000 you'd be lucky to buy a crummy house in a crummy neighborhood. $100,000 would be gone in a few years at most if you have children.
Virtually the only people who should take the $100,000 guarantee are people who will literally die if they don't get $100,000 immediately (like if you owe the mob/cartel money). The only other kind of person who should take the $100,000 guarantee is someone who has no family, no spouse, no children, and just wants to hasten his own retirement by a few years.
If you care about your spouse, children, parents, etc. and you do not have a very very very immediate pressing need for $100,000, you should take the billion dollar gamble.
For all the math people out there, your math games would say it would be better value to go for the $1 billion even if it was only a 1 in 200 chance, but almost none of you would take that choice, despite what the math tells you.
The fake math people here just go by Expected Value and leave it at that. The real math people here understand the non-linear relationship between Money and Utility and base their decisions off of the specifics of their situation.
If I had a billion dollars I wouldn’t care about managing it, I wouldn’t need a return on it and even if it lost 90% of its value it’s more than I could ever spend anyway.
Why would you want the $1 billion? It seems everyone fantasizes about it and nobody has a clue what they would do with it. Flagpole says he would give it away. Well what is the point then? Why do you want it? It gives you more options. No doubt. But you probably don’t know what you would do? Or do you?
I wouldn't give it ALL away! I never said that. If I put a billion dollars in an index fund and took ONLY 4% a year from it (so it would still grow), that would be $40 million! I have no need to spend that much money even...not even close.
If I were to absolutely splurge in life on what I would REALLY want, I MIGHT spend $2 million a year, and that would have to involve some serious frivilous spending. So, we're talking having at a minimum $38 million a year earned from the invested money that I absolutely don't need. I definitely would give most or all of that to some charities I wanted to fund.
100k isn't a lot of money which tells me you are like 12 or 89 years old
Obviously take 17% for generational wealth. If it loses, oh well get back to life. Making 100k shouldn't take anyone with any kind of remotely useful skill all that long. Easily less than a year
For all the math people out there, your math games would say it would be better value to go for the $1 billion even if it was only a 1 in 200 chance, but almost none of you would take that choice, despite what the math tells you.
Huh??? Literally anyone with a decent job is taking the chance at a billion without a second thought! Do you think 100k is a lot of money??? I make that in less than a year and no, this isn't even flexing
A harder question would be something like a million vs billion. Don't even care enough to do the simple math to find the break even point in expected value
I don't know why the OP chose 100k. Maybe that would have been more relevant like 40 years ago?? Otherwise, easy choice in 2024 going for a 17% chance at generational wealth
If you're dirt poor and from a 3rd world country or something like that then yeah you take the 100k I guess. But why ask a question geared towards them when they aren't the type to post on an obscure running forum
For all the math people out there, your math games would say it would be better value to go for the $1 billion even if it was only a 1 in 200 chance, but almost none of you would take that choice, despite what the math tells you.
The fake math people here just go by Expected Value and leave it at that. The real math people here understand the non-linear relationship between Money and Utility and base their decisions off of the specifics of their situation.
Yes. Smartest post here besides mine. St. Petersburg lottery/paradox very relevant here and the original question seems to be a very poor version of it
For all the math people out there, your math games would say it would be better value to go for the $1 billion even if it was only a 1 in 200 chance, but almost none of you would take that choice, despite what the math tells you.
Huh??? Literally anyone with a decent job is taking the chance at a billion without a second thought! Do you think 100k is a lot of money??? I make that in less than a year and no, this isn't even flexing
A harder question would be something like a million vs billion. Don't even care enough to do the simple math to find the break even point in expected value
I don't know why the OP chose 100k. Maybe that would have been more relevant like 40 years ago?? Otherwise, easy choice in 2024 going for a 17% chance at generational wealth
If you're dirt poor and from a 3rd world country or something like that then yeah you take the 100k I guess. But why ask a question geared towards them when they aren't the type to post on an obscure running forum
To most people $100,000 guaranteed is the better choice over 1/200 shot at $1 billion. Of course the OP said 1/6 chance, which is a HUGE difference. You brag but you would be a fool to turn down the guarantee of $100,000 for a 1/200 chance of $1 billion. This is not taxed according to OP, so it is worth more than making $100,000 before taxes. It is not like $100,000 after taxes is easy money for you. You still have to work for it.
The fake math people here just go by Expected Value and leave it at that. The real math people here understand the non-linear relationship between Money and Utility and base their decisions off of the specifics of their situation.
Yes. Smartest post here besides mine. St. Petersburg lottery/paradox very relevant here and the original question seems to be a very poor version of it
Your post was not smart though. You sound stupid to me.
Why would you want the $1 billion? It seems everyone fantasizes about it and nobody has a clue what they would do with it. Flagpole says he would give it away. Well what is the point then? Why do you want it? It gives you more options. No doubt. But you probably don’t know what you would do? Or do you?
I wouldn't give it ALL away! I never said that. If I put a billion dollars in an index fund and took ONLY 4% a year from it (so it would still grow), that would be $40 million! I have no need to spend that much money even...not even close.
If I were to absolutely splurge in life on what I would REALLY want, I MIGHT spend $2 million a year, and that would have to involve some serious frivilous spending. So, we're talking having at a minimum $38 million a year earned from the invested money that I absolutely don't need. I definitely would give most or all of that to some charities I wanted to fund.
I believe Flagpole would give alot of it away. I disagree with many of his positions, but I don't think he is a bad guy, just his life experiences make him see the world differently than me
100k isn't a lot of money which tells me you are like 12 or 89 years old
Obviously take 17% for generational wealth. If it loses, oh well get back to life. Making 100k shouldn't take anyone with any kind of remotely useful skill all that long. Easily less than a year
For all the math people out there, your math games would say it would be better value to go for the $1 billion even if it was only a 1 in 200 chance, but almost none of you would take that choice, despite what the math tells you.
This post shows the stupidity of so many letsrun posters
For all the math people out there, your math games would say it would be better value to go for the $1 billion even if it was only a 1 in 200 chance, but almost none of you would take that choice, despite what the math tells you.
This post shows the stupidity of so many letsrun posters
I wouldn't give it ALL away! I never said that. If I put a billion dollars in an index fund and took ONLY 4% a year from it (so it would still grow), that would be $40 million! I have no need to spend that much money even...not even close.
If I were to absolutely splurge in life on what I would REALLY want, I MIGHT spend $2 million a year, and that would have to involve some serious frivilous spending. So, we're talking having at a minimum $38 million a year earned from the invested money that I absolutely don't need. I definitely would give most or all of that to some charities I wanted to fund.
I believe Flagpole would give alot of it away. I disagree with many of his positions, but I don't think he is a bad guy, just his life experiences make him see the world differently than me
So, I am not being argumentative here...just would like to know what you would spend $1 billion on rather than give a lot of it away?
First of all, you can spend tens of millions of dollars every year and never touch the principal. What more do you need there?
I don't care to have a car collection. I don't care to have a house with more than 3 bathrooms. I don't want to own more than one house. I don't want to own an island or a private plane or a yacht. I have some very simple requirements. I'd like to have a bowling alley (just 2 lanes) in my house, and that's super easy to do even on money I already have. I don't want a pool. In the bowling alley area, I'd like to have some classic arcarde games and pinball machines. Again, peanuts if you have a billion dollars.
A billion dollars is just SOOOOO much money, and it generates SOOOO much money. If invested and I take 4% of that annually, that's $40 million while the billion would continue to grow. How do I even spend that much money in a year?
So, if YOU had a billion dollars, what would YOU do with it?