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Oct 27, 2020
2:04
:09
pm
CSoul
Intervention Needed
I mean, I knew Cougarboard was conservative, but there is a surprising lack of risk takers it appears
Lost of lawyers indeed!
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CSoul
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tsm26
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CSoul
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Author
Time
POLL: Follow up, since the result is clear. Which of these choices would you make?
CSoul
Intervention Needed
10/27/20 2:00pm
I mean, I knew Cougarboard was conservative, but there is a surprising lack of risk takers it appears
CSoul
10/27/20 2:04pm
Invest that 3 million and never have to worry again. I'll take that over a possible 25 million.
byuluvr
10/27/20 2:05pm
Oh, I know why people are picking it.
CSoul
10/27/20 2:07pm
BYU fans. We're accustomed to having hopes dashed.
Byron McNertney
10/27/20 2:07pm
For me there's no difference between $3 million and $100 million.
CopperLix
10/27/20 2:05pm
There isn't a lot of difference between 3 million and 20. There is a lot between 3 and 100.
CSoul
10/27/20 2:06pm
This is probably true...except that $3 mil is still a lot of money and people
m0resn0w
10/27/20 2:09pm
I think a lot of entrepreneurs make this kind of choice all the time, they just don't know they are
CSoul
10/27/20 2:12pm
I don't have enough imagination or connections to truly understand what the difference actually means to me.
supertux
10/27/20 2:12pm
You would find it soon enough. But really, the 100 million is an amount you can start changing
CSoul
10/27/20 2:14pm
$100 million to me is the threshold for uber wealthy.
YIsForBrigham
10/27/20 2:19pm
You would find a difference once you started spending some of the 3
YIsForBrigham
10/27/20 2:11pm
The difference isn't likely to be felt by most of us individually. But the difference generationally is huge. You can be
unctoothman
10/27/20 2:57pm
On one hand you have to manage your investments carefully to avoid running out.
Ash
10/27/20 6:50pm
There is no "chance" option I'd take over the $3 million now option.
timpjynx
10/27/20 2:08pm
How low would the dollar option now need to be to take one of the other options?
CSoul
10/27/20 2:08pm
I could make due with $1 million now... Less than that, maybe I'd take a chance.
timpjynx
10/27/20 2:11pm
IOW, how much would you be willing to pay in order to have a chance at winning a large amount of money?
Smack'sWife
10/27/20 10:20pm
CB members are smart with money and not actually as rich as they say or appear
newbie
10/27/20 2:10pm
If you change the first option to $1 million, then my answer changes to second
Mikey
10/27/20 2:10pm
This sounds like a Tversky/Kahneman study, interesting results -
ConnCoug
10/27/20 2:11pm
This is a big deal. Is it taxable?
gurt
10/27/20 2:11pm
Yes, each of those are taxed
CSoul
10/27/20 2:14pm
Why are all the 'chance' options in 3 years? Is that critical to the question? I
Salami Karate
10/27/20 2:12pm
When is the uncertainty resolved? Now or in 3 years? That moves the needle, but
Coach's Dad
10/27/20 2:13pm
I always screw up these decision tree problems.
WDaddy
10/27/20 2:17pm
How a 50/50 shot at $100 million with no work or risk isn't the obvious choice is beyond me
YIsForBrigham
10/27/20 2:19pm
I'd rather take the guaranteed "never work again" over a 50% chance
Styro
10/27/20 2:23pm
I dont think $3million is never work again money but I guess if it is to you that makes sense
YIsForBrigham
10/27/20 2:24pm
$3 million even doing an ultra conservative 3% rule would generate $90k/year
BYUFootballisBack
10/27/20 2:37pm
Here are my calculations
Styro
10/27/20 2:43pm
And thats if you choose to never touch the actual $3 million, if you wanted you
BYUFootballisBack
10/27/20 3:16pm
Is this just extra money? or is this my job? If I may not make ANY money in 3
fattycoug
10/27/20 2:22pm
It's on top of whatever else you are doing. Good distinction.
CSoul
10/27/20 2:23pm
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