Yeah, the ratio of this dilemma is an interesting one. If it was a guaranteed 5 million or even 500k, I’d damn well take the guaranteed option. I also hate leaving things to chance. Even as a fraction of the 10 million, either of those would be life changing.
But for 50k, I’m not so sure. It’d help iron out a few immediate financial wrinkles, but it wouldn’t change anything I’m doing today. I’d still be going to work, still keeping my expenses the same, and keeping my living situation as-is. So it wouldn’t ruin me to have 50k less to spend, I just wouldn’t be able to pay off loans or accrue savings as quickly without it.
And then I think that if I were to take the guaranteed sum, I’d end up lying awake at night wondering what could have been if I’d gone with the 10 million and won the coin toss. That might end up eating me up inside.
But that’s a security bias. If you were more prone to risk taking, you’d be doing the opposite even if the payout was - say - $150k. Or even $75k.
And then I think that if I were to take the guaranteed sum, I’d end up lying awake at night wondering what could have been if I’d gone with the 10 million and won the coin toss.
This all seems to boil down to psychological impact rather than material benefit.
Yeah, the ratio of this dilemma is an interesting one. If it was a guaranteed 5 million or even 500k, I’d damn well take the guaranteed option. I also hate leaving things to chance. Even as a fraction of the 10 million, either of those would be life changing.
But for 50k, I’m not so sure. It’d help iron out a few immediate financial wrinkles, but it wouldn’t change anything I’m doing today. I’d still be going to work, still keeping my expenses the same, and keeping my living situation as-is. So it wouldn’t ruin me to have 50k less to spend, I just wouldn’t be able to pay off loans or accrue savings as quickly without it.
And then I think that if I were to take the guaranteed sum, I’d end up lying awake at night wondering what could have been if I’d gone with the 10 million and won the coin toss. That might end up eating me up inside.
But that’s a security bias. If you were more prone to risk taking, you’d be doing the opposite even if the payout was - say - $150k. Or even $75k.
This all seems to boil down to psychological impact rather than material benefit.