Financial education or 1million dollars

[AnonBitCoiner]

If a person has huge sum of money but does not have any idea that how to use it and how to invest it so this sum of money will eventually ends up without any benefit so its necessary to have some planning according to the education about finance to make the better use of this money.

If a person has financial education then he can earn 1 million but if a person has no education and have 1 million so this money will be spend without any work to do or any other beneficial job.

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[Wildwest]

If there is such an offer then I will choose $ 1 million to get financial education and learn to do business both in the crypto world and other businesses that can be profitable because in that way we can use $ 1 million and will continue to grow to reach fantastic value but all need a process, do not use $ 1 million to buy useless goods because it will be useless for the future, So there are all ways to continue to grow, especially financial education so that we are good at managing our finances and don't run out until seven descendants.

[nara1892]

If a person has huge sum of money but does not have any idea that how to use it and how to invest it so this sum of money will eventually ends up without any benefit so its necessary to have some planning according to the education about finance to make the better use of this money.

If a person has financial education then he can earn 1 million but if a person has no education and have 1 million so this money will be spend without any work to do or any other beneficial job.

But on the other hand we also need to pay attention that we will not get a proper education if there is no money in it because it is clear that currently our orientation towards money is still very large.
Actually, whether it is money or education that is chosen, all of them have conditions that trap them, I think, and we certainly know that everything we choose has consequences that must be accepted.
But that's just a supposition and I also expected something more when it happened because I prefer to take both and when we can take both why do we have to think about and only focus on one of them.

Both of these are very important right now so there's no need to choose either one because if both can be had then that's a good thing and we can still go for it.

[rhodelmabanal]

Financial education has always been a game changer in the financial state of a man, it is the best education a father can give to his children because once you are financially educated, it's near impossible not to be financially stable.

Have you wonder why most lottery winners have gone back to square one after winning or most rich kids losing their inheritance due to poor/bad management of funds, it's because they lack financial education.

On the other hand 1million dollars is truly a life changing amount of money but if you are not financially educated, you will lose it all on  the long run,
I don't know if anyone sees it the same way I do?

I will choose the 1 million dollars because if i have 1 million dollars i can hired a teacher and teach me about financial education or educate me about how to be financially free. I believe most of is here choose 1 million dollars specially to those who are in ASEAN country 1 million dollars if converted to some asean country currency is totally life changing you can build a big house and businesses with that amount.

[southerngentuk]

Having a million dollars or a substantial sum like $1 billion can really provide financial security and the potential to accumulate wealth. It is true that for a million dollars, you can choose to live comfortably and sustain yourself for a considerable amount of time. However, if you do not know how to manage them wisely, that money will soon run out. So learn to self-educate on how to manage money because it is a basic skill needed to be able to live in this society. In addition, it is also necessary to develop yourself and improve your education on financial knowledge that can help you profit with the money you already have. So, while certain aspects of financial management can be understood through personal experience and common sense, financial education provides a deeper understanding and a broad range of knowledge. and the ability to make informed decisions in complex financial contexts.

[justdimin]

Remind me of a old child tricky question: "1 million now, or a penny that doubles each day during next 30 days". Many would choose a million right now, while a penny option is much profitable. Some people might calculate and chose a penny option, but imagine what a trader could do in 30 days if he has a 1 million to spend.

Financial education is preferable imho, but what about the situation, when it will takes an experienced person with financial education years to earn his first million, while other person can multiply that million when first person is still earning it?

That second question is the important one. One penny per day that doubles everyday for 30 days is over 5.5 million dollars, so if you are doing that for 30 days then I will be able to wait for 30 days and that's fine. But, if you asked me 1 million today or 5.5 million in 10 years?

I would say 1 million today because I can make that into 10 million and more in 10 years anyway. Not just trader but even long term investor could do that and that is why it's so important. People need to realize that we are at a breaking point in the crypto world where it could go up, so if you give me a million dollars today, I would simply put that in top bitcoin and even in the shot 2 year term I could make more than double that easily, probably a lot more. So always pick the million today, makes more sense.

I understand that people are not realizing the number, but at the same time that timeframe is the difference maker. In OP's question nothing is guaranteed, I mean think about it, you learn a lot about finance and that means you could make a lot of money but it also means that you may not make any money at all, aren't there any poor traders in the world? I am sure there must be and that's the key part.

I believe that we need to focus on that a lot more, we could make a lot more, but we could fail as well so we should focus on what we can do instead, that would be a lot better. I personally hope that the best thing to do is 1 million dollars, at least for me, just get that and no other money is needed, you can live with that as easy as you could hope for.

[karmamiu]

Remind me of a old child tricky question: "1 million now, or a penny that doubles each day during next 30 days". Many would choose a million right now, while a penny option is much profitable. Some people might calculate and chose a penny option, but imagine what a trader could do in 30 days if he has a 1 million to spend.

Financial education is preferable imho, but what about the situation, when it will takes an experienced person with financial education years to earn his first million, while other person can multiply that million when first person is still earning it?

That second question is the important one. One penny per day that doubles everyday for 30 days is over 5.5 million dollars, so if you are doing that for 30 days then I will be able to wait for 30 days and that's fine. But, if you asked me 1 million today or 5.5 million in 10 years?

I would say 1 million today because I can make that into 10 million and more in 10 years anyway. Not just trader but even long term investor could do that and that is why it's so important. People need to realize that we are at a breaking point in the crypto world where it could go up, so if you give me a million dollars today, I would simply put that in top bitcoin and even in the shot 2 year term I could make more than double that easily, probably a lot more. So always pick the million today, makes more sense.

I understand that people are not realizing the number, but at the same time that timeframe is the difference maker. In OP's question nothing is guaranteed, I mean think about it, you learn a lot about finance and that means you could make a lot of money but it also means that you may not make any money at all, aren't there any poor traders in the world? I am sure there must be and that's the key part.

I believe that we need to focus on that a lot more, we could make a lot more, but we could fail as well so we should focus on what we can do instead, that would be a lot better. I personally hope that the best thing to do is 1 million dollars, at least for me, just get that and no other money is needed, you can live with that as easy as you could hope for.

You do have a point since having financial education and awareness doesn't mean you are already insured to earn money by the next day. Sometimes having financial education is only a starting point since there are also factors that may greatly affect you like creativity and ability to utilize your resources. Having money is good but it will only took a few minutes for it to be gone if you are not careful, a million dollar nowadays is nothing specially if you don't know where to spend it. If I have a chance to be given that amount I wouldn't spend it immediately but instead i'd like to learn a thing or two before using it.

[robattfield]

Financial education plays an important role in achieving success and maintaining stability. So if you don't know how to hold it, you will be in a bad situation when it comes to making decisions or managing expenses for investments and day-to-day expenses. Of course, $1 million may seem like a lot of money to many people, but that doesn't mean it will stay in your account forever. Therefore, it is necessary to upgrade the skills and mindset for financial management. Besides, additional knowledge related to finance. That way you will be able to build lasting wealth.

$1 million can finish in the blink of an eye but financial education will always remain with you forever unless you get some serious illness that make you forget things that you previously know like a memory loss sickness. I'll choose financial education because with financial education I can make more than the initial $1million price but if I choose $1 million, the money will keep on reducing.

If you have a poor money management mindset, no amount of money will be sufficient for you as you'll waste the money buying unnecessary things that you won't need in the future. Getting $1 million will end you like the lottery winners that ends up with nothing.

Yes that is very volatile especially when we are discussing in this environment and especially in the crypto market it is easy to happen, I have also witnessed a lot of people profiting big investments in short term then they lose themselves and then go into debt in their investments.
Greed, bigotry, blindness, ... are lessons that need to be learned in the process of self-development, even if it is learned from any field, it is also necessary to recognize their mistakes to create the right experiences. Money or achievements will also have different recognition criteria, when we have experience, we will completely know how to control and use it properly.

[glendall]

Financial education has always been a game changer in the financial state of a man, it is the best education a father can give to his children because once you are financially educated, it's near impossible not to be financially stable.

Have you wonder why most lottery winners have gone back to square one after winning or most rich kids losing their inheritance due to poor/bad management of funds, it's because they lack financial education.

On the other hand 1million dollars is truly a life changing amount of money but if you are not financially educated, you will lose it all on  the long run,
I don't know if anyone sees it the same way I do?

1 million $ will quickly run out if someone's financial management is not good, it will be long-term otherwise, especially for gambling 1 million is only seriphan for reliable gamblers and often wins large numbers of lottery but all will not stick if they don't have education in managing Money
So education is important for financial matters

[Hispo]

I would personally take the 1 million without thinking too much about it. Why? Because in my personal situation Intend to be a person who tries not to spend money in useless things and also try to save it from inflation.

So If I suddenly had 1 million, my life style would not change suddenly, but rather would try to make small changes to live more comfortably.
Perhaps, I have got more financial education than other have, I do not know, I do not want to pretend I am special. What I am trying to say is that I would not blow all the money and then declare myself in bankruptcy after a year or less.  

It is way easier to not be responsible with money we have not worked for, after all.

[libert19]

Financial education no doubt, I don't need examples of rich kids or lottery winners, I myself am good example, I've blown lot of money that was handed to me on a silver platter.

[Wong Gendheng]

Surely I will choose $ 1 million, with $ 1 million, of course I can make a business that will develop, now it is very easy to find financial education, even on the internet everything is easy to get, someone who is proficient to become financial education is not necessarily able to produce $ 1 million, but with $ 1 million we can pay financial experts to teach us the best.

[EarnOnVictor]

@Kara3 is not wrong, and I totally agree with his argument,

Neither did I mention that he was wrong, after all, he only gave us the option to choose here, and no one can pass a judgement in that regard. My point was to pass across the pros and cons of the two options and still made known my choice if I had been given the opportunity. To me, it will always be better to have the money first, it's leverage, and you can proceed to learn how to utilize it to make more afterwards.

I will even advise such a person to diversify the investment/business. If I were the one that has a whole $1M at my disposal, then I would learn 5 different businesses and invest $200K in each. This is because any business could fail, if about 2 fail, the remaining 3 might succeed if well planned.

[MarjorieZimmermanGinger]

Financial education has always been a game changer in the financial state of a man, it is the best education a father can give to his children because once you are financially educated, it's near impossible not to be financially stable.

Talking about financial education only applies to fathers who have a stable source of income and he has far more time to teach his children to reach the same level of thinking as him. Then think about how a father who leaves early in search of sustenance and returns home when his child is asleep and what kind of nurturing can be given to his children, even when they can't be together.

Have you wonder why most lottery winners have gone back to square one after winning or most rich kids losing their inheritance due to poor/bad management of funds, it's because they lack financial education.

Your parable is far to interpret the lottery with children who get inheritance and then lose it in how to manage it? I mean, there's almost no formula for talking about wealth by gambling, lottery or anything like that. Inheritance is true of how a child is educated to properly manage gifts and is also inseparable from the financial education they receive from their parents or in formal education.

But back to how the child is as an adult, early education from parents is a fortress and it must be important enough for them as a support in their life as adults. But sometimes the environment leads them in the opposite direction and it's not just financial advice that needs to be taught by parents, but self-character and how to live life with various considerations that need to be taught too. If only financial advice is given, children may not necessarily walk straight when they are older and have more real life responsibilities towards their families.

On the other hand 1million dollars is truly a life changing amount of money but if you are not financially educated, you will lose it all on  the long run,
I don't know if anyone sees it the same way I do?

Not everyone has the same story and not everyone is in that condition. There are children who fail at first and in the end they succeed in getting up to fight many times for their failures. There are children who succeed but ultimately fail and cannot fight back. There are children who succeed late because the process they are going through encounters big obstacles, but upbringing as you say makes them never give up and in the end they go through it all.

I believe human life opportunities are different and enjoying the process is the way to achieve financial success and parental education will usually apply when children are faced with various problems. But to measure financial success it is almost different from one child to another because wealth is different. Therefore, talking about the systematic number of someone who is categorized as rich in what count?

[xSkylarx]

Surely I will choose $ 1 million, with $ 1 million, of course I can make a business that will develop, now it is very easy to find financial education, even on the internet everything is easy to get, someone who is proficient to become financial education is not necessarily able to produce $ 1 million, but with $ 1 million we can pay financial experts to teach us the best.

That's good reasoning, but the problem with that is that you already have money, and that is a lot of money. Are you sure you can control it on your own? If not, imean can you now focus more on education about financial literacy? or you are just now going easy peasy because you've got that huge money and you are thinking about the other side, like how do you spend it, what you will do to it, your focus may have gone. This is like winning a lottery; before winning, you'll say you'll put it in business or make an investment, but by the time you win, you've forgotten about it because you're busy purchasing stuff and partying. The mindset of people who got rich quick or got that huge amount of money is very different when coming from 0 to hero.

[fuguebtc]

If a person has huge sum of money but does not have any idea that how to use it and how to invest it so this sum of money will eventually ends up without any benefit so its necessary to have some planning according to the education about finance to make the better use of this money.

If a person has financial education then he can earn 1 million but if a person has no education and have 1 million so this money will be spend without any work to do or any other beneficial job.

But how many people have you met who are financially educated and can make 1 million dollars? Having knowledge and being educated does not guarantee you will make a lot of money, having knowledge is one thing, and using it effectively to achieve results is quite another. But if you have a million dollars, it will be easier to be financially savvy, you can even hire a financial advisor to guide you through everything. There is no reason to turn down $1 million and choose financial education if we have the choice.

[ringgo96]

For me these are two choices that we must unite, so I will choose 1 $ million to learn investment problems and will develop a business that can indeed give us profits, because without money all the things we want to do are difficult to live including investing, so learning investment problems is directly on the capital of 1 million without having to take formal education, Because financial education has not been able to fully give us success, and today very many people succeed without higher education they only have capital then try to invest or do business.

[Sanitough]

I don't see any sense about the said options because there will be some people that will pick the latter where they will pick the $1 Million and use it to educate themselves so that the money they have picked will not be put into waste by buying some rubbish wants. Some will also pick the first one so that in time, after having the financial education needed, they will use it to make themselves richer.

You see, we all have our own choices to make, and the opportunities that will be presented to us will not really matter at all if we don't have the mindset to make ourselves grow.

[benalexis12]

I will choose 1M$ which is a huge amount here in our money and my 3 generations can live well with that amount for sure. So I can do a lot with that amount, to be honest, one of them is that if I just put money in the stock, for sure my money will grow, even in investing in bitcoin and other altcoins that have the potential to be invested in the future. me too I'll make sure that 1M$ will grow on me.

[DanWalker]

I don't see any sense about the said options because there will be some people that will pick the latter where they will pick the $1 Million and use it to educate themselves so that the money they have picked will not be put into waste by buying some rubbish wants. Some will also pick the first one so that in time, after having the financial education needed, they will use it to make themselves richer.

You see, we all have our own choices to make, and the opportunities that will be presented to us will not really matter at all if we don't have the mindset to make ourselves grow.

I don't see anyone choosing option 1 as financial education, almost all choose 1 million dollars. In my opinion, there is no reason to choose financial education and ignore such a large amount of money because our ultimate goal in this life is to earn a lot of money. You try to study really well, you work hard, try your best to do what? In the end, just to make more money.

Financial literacy is a huge advantage for us, but that doesn't mean we can make money from it. And with a pragmatic society like today, if we don't have money, we won't be able to study properly. Hence, choosing money is still the wisest choice because when we have money, we have everything, including knowledge.