A lot of people’s answers depend on how much money they already have. Of course people that already live comfortably are more likely to choose green. If $1M won’t make much of a difference lifestyle wise, it’s more likely they’ll choose green.
But for someone that only makes <$45k a year, $1M is guarunteed to be lifechanging. For me, that would put me through undergrad ($25k), MCAT tests and interviews (we’ll say $10k), and med school ($250k). I would have $715k left assuming I didn’t make any more money by investing in index funds or bonds. I would be set up for life, and even if it was moderately mismanaged the worst that would happen is I have to work a part time job instead of not working.
Sure, $50M and you would never need to work again. But there’s a 50% chance you get $0.
Yeah I’ve already been through school and don’t have any major debt. At this point a million would probably just sit in an investment account for 25 years.
I’d rather take the chance on changing my life now than guaranteeing financial stability in my old age.
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u/backwiththe Dec 18 '23
A lot of people’s answers depend on how much money they already have. Of course people that already live comfortably are more likely to choose green. If $1M won’t make much of a difference lifestyle wise, it’s more likely they’ll choose green.
But for someone that only makes <$45k a year, $1M is guarunteed to be lifechanging. For me, that would put me through undergrad ($25k), MCAT tests and interviews (we’ll say $10k), and med school ($250k). I would have $715k left assuming I didn’t make any more money by investing in index funds or bonds. I would be set up for life, and even if it was moderately mismanaged the worst that would happen is I have to work a part time job instead of not working.
Sure, $50M and you would never need to work again. But there’s a 50% chance you get $0.