Asked by Anonymous
If it was an emergency fund for a loved one, in a heart beat. It's a good deal.
But if the $10M was for travelling the world or buying overpriced ostentatious luxury items, likely not. Coming from someone who has done a fair bit of travel, and bought overpriced things herself, the best things in life tend to be free (cliche but true).
It would be ironic if the person who took the $10M splashed the whole thing on a round the world trip on first class, and then collapsed due to old age right before boarding the plane. A little morbid, but food for thought ;)
After all, we all can check how much money we have in the bank account, but no one can check exactly how much time we have left.
I VOLUNTEER AS TRIBUTE. GIVE ME THE MONEY, AND I'LL TRADE 10 YEARS OF MY LIFE WITH YOU
If I had a plan for the 10M and I know what i would do with less than 10 years of my life, sure why not?
AS i would know myself, i do not have a concrete plan for this 10M. 10 years could be more than just 10M, it could be 10 years of a more meaningful life with your loved ones. Or if find that you could only succeed at 50 or 60, the next 10 years would be so amazing.
So not at this moment. Unless its 10m with 20 more years :)
No I probably would not.
Based on what I've read, after a certain amount of wealth, the increase in wealth will not add much satisfaction to your life. I think $10m would have crossed this threshold by quite a lot for me, such that getting $3m and $10m may not make much of a difference anymore.
Besides, I believe that time is something that cannot really be turned into a good that can be bought and sold. There can be demand for time, but you can't "supply" time, especially if that 10 years I trade away is something I can never get back.
Also, based on the time value of money, what $10m is worth to me 10 years from now (since I age 10 years), is worth less what it's worth today. I could use a smaller capital within that 10 year span to earn returns such that it hits $10m in value 10 years from now.
I would take the 10M because that would mean 10 years of ageing without stress- something I woudn't think I can achieve statistically speaking in this coming 10 years, especially stress free.
Moreover I would forecast my coming years from then on to be more comfortable with greater financial stability. I can indulge in a mix of outsourced asset portfolio management, and dabble with my own equities trading myself as well. More importantly, I would also be able to persue more of my interests and take time out to travel the world while I am still relatively young and able.
More or less I think I can make up for the loss of 10 years with the quality of my remaining years coupled with the $10M boost.
10 million... if you told me 12 years ago, I would have taken it in a heartbeat. In fact, if I could, I would have traded 20, no 30 years of my life to get the money. Just name the price. Yes, I know money is not the end all, but I think we all have that event in our lives we could see the ultimate value in money, that instantaneous gratification, that loved one we could help, the power we can obtain to change the world for the better. It's fun to dream, and I dream everyday about something like this happening. But alas, reality hits really hard, doesn't it?
Now, I think perhaps I may not take that money so quickly. Time becomes much more precious now as my friends and family gets older, and frailer. But at least now, they are still in good health, which I am grateful for everyday. Since we don't know when will be our last breath, that 10 million may spell the end of our lives sooner than we expect... I don't think I want to leave the world yet. I still have many things to do, places to see, people to meet, lives to change!
GIVE ME NOW!!!
No. I may not know what I'll be doing tomorrow or if I'll be dead tomorrow but I'm pretty sure I'll be worst if I wake up one day and I'm rich but in poor health.
Then I'll lament about why I wanted the money instead of time to work on my issues.
Nope I’ll never sacrifice my youth for money, unless I need the money urgently (which I hope is never!)
Imagine one at 20 to 40 with parents around and trade in 10 years for 10 mil but parents and some siblings gone !!!!
We can earn $, and it is only use as a medium of exchange but we can't really buy back time. Once is over is over , there's no replay.
So to me, the answer is No. There's limited time everyone has on this Earth and the time with family / love ones. I wouldn't trade any amount for a moment lost with them.
I will choose $0 and have another 10 years to live and do meaningful work. :)
Money is a means to an end, not an end itself. Maybe cos I'm not that young anymore. haha