what would you do? 1 million for sure VS 50% chance for 100 million

originally posted by: AugustusMasonicus
a reply to: tadaman

Taxed or untaxed? It would influence my decision...

So then 500,000 or 50,000,000?

1 million even invested with something like lending club will easily net you a 100K a year and there are investments which would give you a higher return than a mere 10%.

So yeah the 1 million sure thing for me because 100K a year is the same as being rich in my eyes.

50% chance for 100 million

a reply to: tadaman

It depends on how rich I already am. If I am already a millionaire, then a million dollars isn't going to drastically change my life and I would risk the 100 million. If I were just scraping by or up to my eyes in debt, I wouldn't risk it and simply take the one million.

So, me as I am now... totally take the 1 million. But if I had the same opportunity the following year after having that million bucks, I would risk it.

a reply to: tadaman

I wonder if people would change their answers if you changed the progression of events a bit.

Let's say I handed you one million dollars in a briefcase. It's yours. All yours. Then I presented you with a gambling opportunity to win 100 million but it cost one million to bet. Would you still do it?

originally posted by: Nechash
a reply to: tadaman

Good question. Considering that a million would enable me to invest in some business ideas that are presently unobtainable for me, I'd go for the guaranteed million, but if I were to approach this purely logically, it is tempting to go for the $50 Million.

If we assume that there are an infinite number of multiverses, would I rather choose a situation where all of my possible selves had $1 Million at that point in time or am I willing to accept a situation where only half of them have $100 Million. I know that sounds crazy, but that is honestly the way I think about probabilities in my real life. Maybe I play things too cautiously due to this methodology...

this all day

got lots of ideas for buisnesses to work for myself a loan for sutch ideas ha

a reply to: Cuervo

Yeah I would take the risk. Even with cold hard cash in my hands, the chance to be a Titan would weigh heavier on me for not taking it than having lost money.

red pill all day for me.
a cool milli would be fine with me

never been a gambler....

with a milli i couldnt change the world, but i could sure change my world and thats good enough for me

Definitely the 1mil.

Pay off my mortgage, loans, and other bills. Maybe prepay my utilities/internet/cell phone for 10 years. Would have about 400k left, of which 100k would go into savings, 100k would go into checking for spending, leaving 200k for investments and finally getting some of my ideas patented and produced. If played right, I should be able to live mostly bill free and not have a day job, for the rest of my life.

For sure 1 Million. For sure.

With that I could pay off my house & property, which leaves me $925,000
Buy the wife a new vehicle, that would leave........................$850,000
Build a garage which would leave me about...........................$800.000
Pay off all medical bills which would leave about.....................$790,000
Give each family member $25,000 which would leave...............$615,000
Give 115,000 to various local charities, leaves me...................$500,000
Buy 100,000 in gold.........................................................$400,000

Leave the rest in my bank account and have interest (about 12,000 each year moved to the checking account I live on
With all the vehicles and house paid off I can easily live on 12K a year.

So 1 million that would change many lives or a 50% chance things would stay the same as they are now.
Most would say 50% chance at 100 million.......... but I see it as 50% chance at nothing.

$1,000,000 doesn't get you into the bunker.

$100,000,000 might.

I'm wondering how a person's current financial situation influences their answer to this question. If you feel comfortable answering, how often are you able to make it from one pay day to the next without running out of money, and what is your answer to the OP?

I'd take the 1,000,000 and save that for my retirement. Because even though there is a 50% chance in getting more, why would I need that? 1 Million is more than enough to take care of me, and I'd rather not have the needed stress of being everyone's "favorite" person if I won the big money.

-fossilera

a reply to: muchmadness

I run low on funds all the time. I havent had much in my life. We arent poor by any stretch of the word as a family but we are working class. I just dont think that I am not comfortable enough now compared to most of the world. Not compared to western society on a whole but compared to most of the world. I have food, shelter, running water, have gone to school...ect. I live like a king compared to the reality of many.

I dont need even a million to live a dream life so there is a shot that I may make it happen anyways.

Its just that the chance to actually change things for the better is too much of an opportunity to let pass. Imagine how much good you could do. Its not about being known as a Titan. Its about YOU KNOWING you are. Its about giving the bird to every bad thing in life we all just say "well what can you do right" and just making the world we all deserve and that deserves to exist.

If I could change the world for the better I would consider myself wealthy in life and opportunity. I think a little suffering builds character. I am delighted to have been born into a working class family. It has done more good to me than I could ever truly appreciate. I dont need to be more comfortable to enjoy a worthwhile life.

Take the one million, and then invest and start a business and turn it into 100 million. Boom. I win.

If i was in my late 50s early 60s then it would be the 1million.

If i was in my 30s or 40s then it would be 1million.

If i was in my early 20s then it would be the 1million.

Guaranteed 1million wins.

Until i hit 70s or 80s then i may risk losing a million for a chance of 100million.

I don't owe anyone a dime so a million would easily last me the rest of my life. Besides with my luck I wouldn't get the 100 million so I would take the quick cash.

a reply to: tadaman

Take the one million and pay off everything and still have a few hundred K for a rainy day.

Hell, maybe even throw the entire 1 million into a 4% guaranteed annuity and just take the 40K a year for the rest of my life.

Still have to work but that is a good bit of extra retirement.

Starred & Flagged!

I let my GF hit the red button and I will hit the green button even with my crappy luck!

BUT, if only I have the opportunity to pick a button to hit then of course I pick the cool $1 million rather than chance my grandsons future to the roll of a dice.

However, if I didn't have friends and family [especially those in current dire financial need], as I am myself living comfortably off of a pension, I would indeed risk it all for the $100 million and here is why,

If (poem) by Rudyard Kipling

If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about, don’t deal in lies,
Or being hated, don’t give way to hating,
And yet don’t look too good, nor talk too wise:

If you can dream—and not make dreams your master;
If you can think—and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you’ve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build ’em up with worn-out tools:

If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: ‘Hold on!’

If you can talk with crowds and keep your virtue,
Or walk with Kings—nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds’ worth of distance run,
Yours is the Earth and everything that’s in it,
And—which is more—you’ll be a Man, my son!

If I could afford to dare, then by God, dare it I would without hesitation!

But my current situation logically dictates that I settle for the absolute minimum, which is far more money than I will ever see from my pension in my entire lifetime, and secure my grandsons future.

a reply to: tadaman

1 million would change my life .100 million would be life changing . Green button