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5 Million now, or 20 million when you retire.

Which would you rather have? Enjoy life while your young, and pay for it when your old, or work your ass off now, and enjoy life when you are old.

Personally, I'd go with 20 million later. I could chill on the beach drinking hurricanes all day long. I'd probably buy a Ferrari too, then drive real slow so that people would argue about it on the internet.

5 million now so i can spend it really fast then jump out of an airplane to end it all.

MK

Or 20 million when i retire at age 23.

MK

If you had five million why would you work at all in the first place? You could take five million and turn it into 20 in a few years without breaking a bead of sweat.

That's the point Scott. You have 5 million now, or you let it gain interest and have 20 million when you retire.

now now now

There's so much more I could do now than when i'm older

Well, I was actually thinking more of investing the money in the money markets, bonds, real estate or even starting a business. You'd have to work at that a little though unless you had a good financial advisor. If you put 5 million in a savings account earning a generous 2% and didn't touch it, it would still be worth less than what it started out as in x amount of years, if inflation grew faster, and it probably would.

If you lived off of the interest of 5 million at ~1% you'd still be getting around 50,000 a year. You could still have a pretty good time with that cash, couldn't you. Of course your money would be worth less over that time if it was stagnant. I say make money out of the money and still have fun but I guess that depends on what your idea of fun is. If you had an opportunity to work at something you loved it wouldn't seem so much like labor, especially if you're the boss.

NuwanD wrote:now now now

There's so much more I could do now than when i'm older

Perhaps, but you'll appreciate it more when you're older, unless you mean elderly.

Just for the record, I would probably invest like half of the money and have fun with the rest. You could have a blast on 2.5 mil. One thing's for sure, I wouldn't be working 40 - 50 hours a week.

Funny, this is pretty close to what my character does in my novels. I'd take the $5mil now and buy a modest house in cash, a few affordable cars, a bunch of tools, and invest the rest while working doing something I like and not worrying so much about making a lot doing it as the big things will be paid for and I'd have the rest of the money to fall back on.

Steve

Exactly what my goal would be. It's too bad it has to be a fiction instead of a biography. Once you sell a bunch of books and become a literary guru maybe you could do that. BTW, how would I go about finding your book?

5 million now.

Even if I wanted 20 million when I retired, I would take the 5 million now and invest it intelligently. By the time I retire (roughly 25 years), that 5 million would be more than 20 million. That's the whole point behind lottery payout options.

Most definitely 5 million now. For two reasons:

1) Go crazy now while I'm young, and when I'm old and poor, have plenty of memories

2) Is 20 million really gonna be worth anything when I retire??? At least 5 million is worth something now.

5 million now. I'd start and drive for my own rally team. If I waited till I was older with a body full of arthritis, calcium deposits, bad knees, bad wrists, bad....oh wait, I already have all that! I guess I'd get all that fixed then start my own rally team. Plus I'll need about 2 mil to send my kids to collage by the time they go.

Like everyone else has said, 5mill now. 5 million dollars will last you a life time, most of us are around 18-25 So we should have around 60 years til we die. That's more than 83k a year, if you don't invest ANY of it. Can you really spend 83k a year every single year for 60 years? I can't. Even so I'd still invest a good sum of it. Probably about 75% or so.

Meh, I wouldn't want to risk having to worry about running out of cash.

If something comes up and I have to drop $150k on something, I wouldn't want to have to re-work my whole financial plan and get a job for the last year of my life.

bad wrists

I was going to make a joke about this, but it's just to easy.

well I wasnt saying you'd limit yourself to x amount per year, just breaking it down for you.

THAWA wrote:Like everyone else has said, 5mill now. 5 million dollars will last you a life time, most of us are around 18-25 So we should have around 60 years til we die. That's more than 83k a year, if you don't invest ANY of it. Can you really spend 83k a year every single year for 60 years? I can't. Even so I'd still invest a good sum of it. Probably about 75% or so.

Good point, even if I am outside your age range.

Ya I gots fereashen burns on my spanky