⚡️🇨🇦 NEW - Brenda, a lottery winner, had two choices: she chose to win $1,000 per week "for life" rather than receive a lump sum of $1 million. She believes this choice will be much better for her lifestyle.
👉 Would you have done the same? #asknostr
Discussion
Now... THIS! is how you demonstrate your financial illiteracy in grand fashion!
🤣🤣🤣🤣🤣
Great example on how Government indoctrination institutions do not "teach" financial literacy in any sense of the word...
20 years to receive the full amount. I made the math. And in 20 years, with 1 million you don't know if you would by a brick of milk.
That's how I'd do it. I'd blow that million in a couple months one way or another. Dont last as long as it used to
So much could go wrong. Me, I don't trust them generally, nor do I trust that their currency wont collapse, or that their lottery system will last the test of time.
Give me mines, if possible in Silver, Bitcoin and Gold.
Clearly she has no idea on finance. I don't know how much tax should would pay to cash in the millions, but if it's invested at 2%, she would already get that 1000$/month as interest.
Not even talking about buying BTC with it and hold for 10 years.
Stay humble, stack sats.
She should have bought bitcoin.
500k on bitcoin immediately, 200k set aside for dca, 299k on fun . 1k on a great steak meal with friends. I may change
my mind several times
Even if she got a 50% tax over the1M, 500k on hand is a way better deal. Should people under compound interest...
Someone who trusts the system to still be there when they die... Someone who hasn't thought through the possibility that interest and inflation will impact that 1000$. Someone who hasn't thought about passing anything on to their next of kin when they do die. The lump sum would have been a better idea even with tax and related issues.
A lifetime supply of pudding would hold its value better
No brainer: Take the million, pay the tax, stack the SATs. Go to work the next day: stay humble and stack more SATs.
I read somewhere most major lottery winners are back to being completely broke within a decade. For the kind of people who play the lottery the $1,000 a week is a much better choice than blowing it on four wheelers and trips to Disneyland.
Even if she is worried about something like this, it can be managed in more profitable way.
This is completely and utterly idiotic.
Fiatmaxi.
Fuck no ! , she doesn't know a fuck how this wolrd works ...