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Hypothetical and just for fun
saver03
Posts: 651 Forumite
I was going through a gambling site and the prize was £5000 a month for life or a 1 off payment of £1.5m.
My question is which would you take?
I think the one off payment as it would take 25 years of £5000 per month payments to reach that and you never know what can happen! Also, I could gain more interest.
My question is which would you take?
I think the one off payment as it would take 25 years of £5000 per month payments to reach that and you never know what can happen! Also, I could gain more interest.
LBM 14/12/06 £21,947.17 DEBT FREE 12/04/09
MFW - December 2010 £76,199 - 4th February 2021 £37,360.90
MFW - December 2010 £76,199 - 4th February 2021 £37,360.90
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I was going through a gambling site and the prize was £5000 a month for life or a 1 off payment of £1.5m.
My question is which would you take?
I'm with you. I'd take the lumpsum and invest it myself, aiming to get a similar level of income - but then I've always got the option of spending the capital as well, e.g. if I suddenly find out that I've only got months to live ...:heartpuls Mrs Marleyboy :heartpuls
MSE: many of the benefits of a helpful family, without disadvantages like having to compete for the tv remote
Proud Parents to an Aut-some son 0 -
The £1.5m EVERY TIME. (no chance though still I can dream)Blind as you run...aware you were staring at the sun.
And when no hope was left inside on that starry starry night.
:A Level 42- the reason I exist. :A0 -
£1.5m every time!
Reason being time value of money
£1 now is worth more than £1 in 25 yearsDebt Now~Total-£14,366.72~CC-£1,600.00~Sofa-£1,349.01~Loan-£11,417.71
:eek:Debt@Oct 12~Total £15,674.60~CC-£1,636.40~Sofa-£1,648.77~Loan-£12,389.43:eek:0 -
Definitely the £1.5m, if only!!!!!!!Money doesn't make you happy so I'm skint but cheerful :beer:0
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i won £43 for 4 numbers on the lottery the other week - i took it as a lump sum :beer:0
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What if the company goes bust? Take the money straight up0
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Take the money...just 1 year at 5% net interest would bring in £75,000....which is 15 months of the £5000
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Definate lump sum for me too.
Ohhhhhhhhhhh if only.........................Proud to be dealing with my debts - DFW No: 712
03/09/09 - DEBT FREE AT LAST
Racing Hypno to Save - £10/£50000 -
Yep im with you, lump sum without a doubt ............
.............. the things i could do with money like that!!!Proud to be Dealing with my Debts
Lightbulb Moment 1st April 2008 Total Card Debt £2100/£1815 ~ 5th June 08 Total Overdraft £500 Total Car Finance £5000 £2 Challenge £4/£40 Next to attack~Littlewoods £275/£2390 -
Lump sum! I want a big house and tonnes of posh cars damn it!Total 'Failed Business' Debt £29,043
Que sera, sera.
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