10 years of your life for 2 million dollars

Discussion in 'General Discussion' started by Lavitz, Nov 13, 2012.

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Would you trade 10 years of your life for 2 million dollars?

  1. Yes

    2 vote(s)
    100.0%
  2. No

    0 vote(s)
    0.0%
  1. Lavitz

    Lavitz Inactive

    Assuming you live to be 80 years old, would you trade 10 years of that for 2 million dollars? This money is tax free so you get every cent of it and there is no catch
     
  2. Sykikal

    Sykikal Administrator Staff Member

    This equates to $200,000 per year. Though, there is something very important to keep in mind. Money right now is always more valuable than money in the future (Due to interest, inflation, etc.). If you had a job that made $200,000 per year, and the current interest rate is 3.25% that would mean the value of $200,000 per year over the course of ten years is worth $1,452,544 today .

    So $2,000,000 right now is much more useful than $2,000,000 ten years from now, or even having it spread out over 10 years. There are of course other factors, even if you do make over $200,000 per year, you could argue that life isn't just about work. That you would be missing out on a huge aspect of your life by taking this money.

    I think the best way to figure this is to calculate the happiness I would experience each year in a life where I had 2 million dollars, and compare that happiness I would have each year in a life where I did not have 2 million dollars. Lets say for example I live until I'm 76 (average male life expectancy in United States). I am 21 now, so that means I have 54 more years to live. If I take the deal, I'd have 44 more years to live.

    There is some dispute regarding how exactly money impacts happiness overall. I also suspect that the happiness caused by the money would decrease as I get older and the money runs out. Though I could also try to invest in a business and increase that money, so this is just too difficult to predict. There are of course so many obscure variables that you can't predict, such as how technology will advance in the upcoming years. It would take too much time for me to take all that into equation. While it is by no means scientific, I'll just assign an arbitrary percentage of increased happiness for the years in which I'd have the extra 2 million dollars. I'll say 30% for the first 22 years, 20% for the remaining 22 years. I'll average it out to about 25%.

    So 44 * 1.25 = 55, just barely over the 54 years. In other words, 44 years in which I have 2 million dollars are more valuable than 54 years in which I don't. Based on that, I'd take the deal. Of course, were I actually offered such a deal, and I was given time to consider it, I would do far more research, and thus, might come to a different conclusion.
     
    Last edited: Nov 13, 2012
  3. Lugiamaster

    Lugiamaster Junior Gamer

    Personally I'd do it. For starters 70 is just fine of an age to live to. Plus if you got the $2,000,000 right now it could also go towards investments and other areas along that sort. Plus bills are a pain so it could help towards those as well.
     

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