Scandalust313
Unshakeable Unbreakable Victorious
That's a perspective...I quite like it
Would You Rather Have $3 Million Now Or $5 Million Next Year?
- Thread starter 5 Grand
- Start date
mike030270
Memes
Lol I'd spend the entire year planning out on how I'm using that 5
I'd definitely upgrade a bunch of things and put the rest away
I'd definitely upgrade a bunch of things and put the rest away
Inglewood_B
OG
my current house worth $450k already. If I upgrade that’s already a huge chunk of that $3million gone right away.
TheNightKing
J.A.P.A.N.
Exactly. Mine is $525k or something like that right now so I’m keeping what I got. Plus the kids are going to be in college soon so we don’t need any more room. I’d probably add on to the deck and create a backyard oasis of some sort. Probably add on a detached garage type building I can build a gym in. The theater room and all that is in process right now without the 3 or 5 milli.
The problem with that line of thinking is, If you take the $3 Mil now, invest it wisely in mutual funds, then nothing happens between this year and next year you will wish you had waited a year and taken the $5.
konceptjones
The one between three and three.
Put it this way:
The house will take a good chunk, true, but you no longer have to pay rent or a mortgage for the rest of your life, just taxes. This means that you could live comfortably on $50k-$75k/year. Even if you spent $750k on an "upgraded" house, you still have enough money to live on for the next 30 years at $75k/yr, even longer if you can keep your spending down to $50k.
Inglewood_B
OG
Thats exactly the point I was making… I said I’d pay off my current house rather than buy a new one and then retire and live comfortably
the house I’m in is fairly new. Built in 2012.
4 bedrooms, 3 bath, 2 stories. There would literally be no reason to upgrade completely on what I got other than to just burn more money. Rather finish paying this one off and maybe add a few QOL improvements to raise the value further.
Wouldn’t even buy a new car either, as I’m driving a 2019 Camaro, and I’m satisfied with it.
Dwayne
Not Like Us
Lmao.
Fam, In 1 year that 5 million will still be more than 3 million. A lot more.
Yall inflation argument holds no merit. I would understand if y’all said 15-20 years but one year? Naw
Koltrain
Active Member
3m is more than I got right now...I'm taking that bread. I'd immediately contribute more to investments that I have cash flowing right now...I'd quit my job and focus on my business and investments. 5 is nice, but I'd honestly be good with 3 right now. Most opportunities I've missed in my life is because I waited too long.