$1,000,000 now vs $1,000 a week for life

[Nikuzi]

1K a week is enough for me I don't do anything crazy. Would easily be able to pay all my bills and just chill.

 

[Ballel]

I'd take one mil now.

Who knows if I'll ever live long enough for having any real benefit from the weekly 1000?

 

[Ask D question]

1000 dollars a week doesn't cover inflation rate, it would take you more than 20 years get to that million, you're just making less and less as times goes on, on the other hand you can use the 1 mil to buy financially stable assets and barely lose anything or invest into stocks, options, forex etc... And potentially make a profit

Passive income aren't always the best deal

 

[Roo]

1000 dollars a week doesn't cover inflation rate, it would take you more than 20 years get to that million, you're just making less and less as times goes on, on the other hand you can use the 1 mil to buy financially stable assets and barely lose anything or invest into stocks, options, forex etc... And potentially make a profit

Passive income aren't always the best deal

the people who pick the $1k need to learn this formula lol

 

[Ballel]

the people who pick the $1k need to learn this formula lol

What's a formula?

 

[Roo]

What's a formula?

time value of money

 

[Ballel]

time value of money

What is P and F and V and r??

 

[Roo]

What is P and F and V and r??

PV= present value
FV= future value
r= interest rate

 

[Ballel]

PV= present value
FV= future value
r= interest rate

Who is interested in what!? I don't get it

 

[Sentinel]

Always take the high amount of money; you should always invest this amount of money, don't just spend it mindlessly. Better than 1000$ a week.

 

[Roo]

Who is interested in what!? I don't get it

You don't know what interest rates are? have you ever been to a bank?

 

[Thabeast]

1m is a no brainer

 

[Ballel]

You don't know what interest rates are? have you ever been to a bank?

No.

 

[Ask D question]

Who is interested in what!? I don't get it

Interest rates are the percentage of increase or decrease, for example some banks offer an interest rate of 1%, that means that every year the money you put into your account will increase by 1%, then that increased money will also increase by 1% and so on

 

[Nidai_Kitetsu]

1 M, please.

I wont be able to rent a decent apartment for $1000 these days in big cities. I can buy a house with a mil.

Edit: I didnt notice that the OP mentioned $1000 a week, not a month.

 

[Blackbeard]

One million is the sane answer.

 

[roronoa_fan]

If you take 1,000,000 now and apply it at negligible interest you earn more than 1,000 a week.

 

[Ballel]

some banks offer an interest rate of 1%, that means that every year the money you put into your account will increase by 1%, then that increased money will also increase by 1% and so on

Which bank does that

 

[Flower]

Easily 1k a week. It's 4k a month and quite a good amount to have a decent life. 1m is not enough to be set for life nowadays and it'll eventually be used up. Investing money ain't a good idea anymore these days either, so there is that. The maintenance costs for a house are too high and the money will be used up quickly. In addition the house and your property is getting taxed. So taking 1k a week is not only a stable income it's also tax free and you can even rent a nice house or send your kids to a good school or uni.
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Which bank does that

None atm. Interest rates are lower than ever. You get nothing if you put money into your account these days.

 

[Roo]

Easily 1k a week. It's 4k a month and quite a good amount to have a decent life. 1m is not enough to be set for life nowadays and it'll eventually be used up. Investing money ain't a good idea anymore these days either, so there is that. The maintenance costs for a house are too high and the money will be used up quickly. In addition the house and your property is getting taxed. So taking 1k a week is not only a stable income it's also tax free and you can even rent a nice house or send your kids to a good school or uni.
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None atm. Interest rates are lower than ever. You get nothing if you put money into your account these days.

You can easily invest that $1m into an index fund and multiply in the same time it would take the $1k to reach a million.