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Would you rather have $5M now, or $45M in 10 years

$5M Now
3
60%
$45M in 10 years
2
40%
 
Total votes: 5

TheCatt
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Post by TheCatt »

Would you rather have $5M now, or $45M in 10 years.
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GORDON
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Post by GORDON »

Post tax... 5 now.
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Leisher
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Post by Leisher »

I'm doing ok right now and enjoy still working. Having $45M waiting for me in 10 years would be a nice carrot.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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Cakedaddy
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Post by Cakedaddy »

I'm too old to spend 45 million in 10 years. Or at least have fun spending it.
GORDON
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Post by GORDON »

A bird in the hand is worth 9 birds in ten years.
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TheCatt
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Post by TheCatt »

I'm really torn. On the one hand, if I KNEW $45M were coming in 10 years, I'd blow everything I have now, and live pretty well for 10 years. Like a drawn out Brewster's millions. Except 10 years instead of 1 month. And nowhere near $30M. Hmmm.

On the other hand, like Cake says, I'm not a Spring chicken any more.

I lean towards $45M in 10 years, cuz I'm pretty sure I have another good 25 years left before I get too old + cranky.
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GORDON
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Post by GORDON »

Ok so you can paypal me my $5 mil, now. I decided.
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Leisher
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Post by Leisher »

If I die before spending it all, then that's more my kids will inherit. Win-Win.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
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Cakedaddy
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Post by Cakedaddy »

5 mil allows you to live really well for the rest of your life. 45 mil allows you to live really stupidly for 10 years less.

5 mil now allows you to keep working, yet do the things you always wanted to do. 45 mil later, you are probably retired, or will be soon, and 10 years older and then can buy 10 sports cars?
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Post by Leisher »

Cakedaddy wrote: 5 mil allows you to live really well for the rest of your life.
Not necessarily true.

Over the past few years I've seen two people reach 100 years of age, and they retired "rich", yet died without much left thanks to medical needs and assisted living.
Cakedaddy wrote: 45 mil later, you are probably retired, or will be soon, and 10 years older and then can buy 10 sports cars?
Why sports cars? Am I a 20 year old who doesn't know the value of money or what's a waste of it? I'm of the age and wisdom that I know paying off my debt (house, car, etc.) is life changing. Anything more is just gravy. $5 million now gives me too much incentive to fuck up and do something stupid, like buy a sports car.

This will obviously change from person to person, but I know what I need to make me happy. I'm pretty much past the point of dreaming about material possessions. I care more about having the funds to not become a burden to my kids, and being able to leave them something.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
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Post by TheCatt »

I definitely still want a fancy car. But fancy for me is probably $150k tops. Oh, and a Jeep to go with it, so that's what, $35k?

$45M is definitely seed money for generational wealth. Or a scholarship, small foundation, etc. Or, traveling the entire world by private jet.
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Cakedaddy
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Post by Cakedaddy »

It depends on what Jeep you want. Sure, you can get one for $35k. But the really cool ones are more. And I'm guessing you are talking about the Wrangler.

The most frivolous things I'd buy would be $150k car and a house on a lake (that I wouldn't pay cash for). I would nickel and dime the shit out of the money, but it would be over a long period of time. I don't even think I'd pay off the current house. Interest rate is low enough that I feel I could make more investing it than I'd be losing on interest.

Also, with the 5 mil now, I feel like I should keep working. BUT. . it would be part time.
TheCatt
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Post by TheCatt »

Cakedaddy wrote: Interest rate is low enough that I feel I could make more investing it than I'd be losing on interest.
If it's below 4%, I'd keep the mortgage. We could pay off our mortgage today, but it's a dumb move, long term.
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TheCatt
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Post by TheCatt »

Cakedaddy wrote: And I'm guessing you are talking about the Wrangler.
Wrangler, yes. I really don't know what they cost...
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Cakedaddy
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Post by Cakedaddy »

The Rubicon 2 door starts at 40k. The Moab 4 door starts at 50k. That's before you lift it, put on all the cool jeep toys (winch, snorkel, etc), and other after market upgrades. The basic 2 door sport starts at 30k.

Jeeps are expensive.
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Post by thibodeaux »

GORDON wrote: Post tax... 5 now.
Same here. If I have an additional 5M liquid, with no tax obligation, *on top* of my current net worth...stick a fork in me.
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