Financial Literacy

[lizarder]

Is she right to choose the $1000/week? Let’s hear the arguments. I’ll start. Look at her age. She’s 20 years old. Seems healthy and has a good chance to live a long life. By 60 years old, she has already received over $2 million which beats the $1 million. But some people would argue that getting the $1 million can be invested and grow bigger. For some though, the $1000 is a good addition to their life and could provide financial stability even more. If she has control, she can even DCA the half of $1000 every week into bitcoin and watch it grow. What are your thoughts?

His young age gives him the opportunity to make some changes in his life and perhaps the use of the money he gets will be much more productive when he can put it in bitcoin. Some methods can be applied such as using DCA to average out consistent bitcoin purchases and that he can make adjustments to the amount of money he can redirect to his future. Financial stability can be the start of building independence and it must be achieved based on the desire to change one's life for the better in the future.

When he is consistent, we can calculate the amount of investment he has made and perhaps indirectly he has prepared for life changes, especially regarding financial freedom. Young people should be more productive in preparing for a better life in the future and when the opportunity is available, this will be the best opportunity for them. Consistency will bring him success in life and we hope that is the best choice he makes.

[Nahl]

Maybe the reason why she want $1000 for every week instead of $1 million prize because she feel that she doesn't good to maintain her financial condition and you know that the history people who won the lottery is quite bad because some people are lost their money prizes rapidly because they were unable to managed their financial and eventually became an poor again so, i assume she doesn't want this thing happened to her in the future besides that as 20 years old women probably she hasn't have the experience to build the bussiness or managing huge money and i think she has make the right decision

[Oluwa-btc]

Perhaps she had thought long and hard about it before deciding to accept $1,000 a week instead of taking it all. We don't know what her life is like, so maybe it was the wisest decision she could have made. Because if she took it all, she was worried it would be wasted. One thing that comes to mind is that maybe she realized she wasn't very good at managing money.
However, if I were in her position, I would definitely take it and allocate it for investment. I think most people would think the same way. The point is that what is good for us may not necessarily be good for others.

Apparently,for a 20 year old like her,this decision could be safer perhaps she fears mismanaging a large sum of money as that.Secondly,she seems to wants a guaranteed flow of income for herself that's why she chose $1000 weekly.Personally I think choosing weekly payments was a way for her to build self control and accountability.

[tabas]

She just wants security and that's why she opted for that option instead of getting the lump sum of $1M. I think that's better for her if she know that $1M could be gone quickly in her hands. It's still a wise decision knowing that there are a lot of lottery winners that have became broke even in less than a year. We might think that we're better than her but she knows her position and life very well. And having a $4k per month is not bad at all. She can relocate to a country where she can live like a queen there for the rest of her life enjoying it.

[Bluedrem]

I think if he had withdrawn the entire amount at once, he could have invested that money and earned over $1,000 per month (since his capital was $1 million). In reality, if someone could invest $1 million in the right place, he would eventually earn over $1,000 per month, in which case I would say he needed to withdraw the $1 million. But what he did was bet with his life. He may have calculated the matter differently considering his young age, that if he lived a long time, the amount he could withdraw per month would be much more than the total amount. But if you imagine the second case, you will see that it was possible to earn at least $1,000 more per month by investing without wasting his capital of $1 million. So I would say it would have been wise to withdraw the $1 million.

[Rruchi man]

A 20 year old won a lottery but instead of getting the won 1 million USD prize, she decided to opt to get 1,000 USD every week for life.

I take it as a decision she took without proper consideration or a decision made from poor advice. Anything could happen, and the regular weekly money of 1000 USD could be affected. IMO, it is best to take all the money you have won at once and go establish or set up something for yourself, something that you can be in control of as the owner even if you are not the manager. Sometimes the human brain has a way of working; she could become reckless in spending from knowing that she will be getting 1000USD the next week.

[Asiska02]

Is she right to choose the $1000/week? Let’s hear the arguments. I’ll start. Look at her age. She’s 20 years old. Seems healthy and has a good chance to live a long life. By 60 years old, she has already received over $2 million which beats the $1 million. But some people would argue that getting the $1 million can be invested and grow bigger. For some though, the $1000 is a good addition to their life and could provide financial stability even more. If she has control, she can even DCA the half of $1000 every week into bitcoin and watch it grow. What are your thoughts?

I know she must have taken this decision out of context and will most likely want to review it as she grows older. Taking only 1,000USD weekly will take her about 19 years to finish collecting the money. Now, you don’t expect that the value of this money will be the same for your expenses weekly from now till in the next 10 years even, inflation could have sets in and may not be enough to cater for the expenses again.

As she grows older, she’ll get to have more things on her scale of preference, maybe even children and families to cater for, which may warrant that amount not being enough. Medical emergencies can come up for her or a very close family member which may also warrant her to take from there to settle the bills which $1000K weekly won’t be able to sort out.

There are a lot of things that may push her to actually want to opt into withdrawing the whole money before she gets to finish collecting them all on a weekly basis. I would commend her though for this first step, this will help her to plan better ahead while keeping her bills fit into $1K weekly for now, she won’t have the room to spend it lavishly as she wants if she’d collected everything at once.

[AmaGold70]

Many people in her age would have taken all the money at once and start living in luxury but instead she choose to get only 1,000 USD every week for life and for me it means that she isn't completely a financial illiterate and I support her decision because it would have been risky for a 20 yrs old to have 1 million dollars without drawing unnecessary attention to herself. Some are saying that she could have invested the money in business that would bring more money to her but a young adult like that have zero knowledge about running a business and managing it well (though I'm not saying that it is impossible) but I feel that receiving little amount of it every week will give her time to reflect on the next thing to do and it can even save from her weekly salary and invest.

[goro_chief]

A 20 year old won a lottery but instead of getting the won 1 million USD prize, she decided to opt to get 1,000 USD every week for life.

https://x.com/stats_feed/status/1998828027661385758?s=61

Is she right to choose the $1000/week? Let’s hear the arguments. I’ll start. Look at her age. She’s 20 years old. Seems healthy and has a good chance to live a long life. By 60 years old, she has already received over $2 million which beats the $1 million. But some people would argue that getting the $1 million can be invested and grow bigger. For some though, the $1000 is a good addition to their life and could provide financial stability even more. If she has control, she can even DCA the half of $1000 every week into bitcoin and watch it grow. What are your thoughts?

Ngl, from a pure financial POV, $1m upfront is better if you know what you’re doing. Even basic low-risk investing could beat $52k/year over decades. The weekly option feels like giving up upside for safety. Not wrong, just conservative. Also inflation eats that $1k hard over time.

[Renampun]

That might be a bad decision for some, but for her, it's a fairly rational one, let's just do the math: with $1,000 a week, she could earn $4,000 a month, or $52,000 a year. however, with $1 million, if it were deposited at 3.5–4% annual interest, it would only yield $35,000–$40,000 a year. mathematically, she'd earn more if she earned $1,000 a week.

so this decision in terms of "security & peace of mind" is more profitable for her, because she can expect $1,000 usd/week for the rest of her life. there is no need to expect that she can handle that much money for investment A and B, not everyone has the capacity to manage large funds without mental pressure. so, her decision was the right one, based on her circumstances.

[LogitechMouse]

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Is she right to choose the $1000/week? Let’s hear the arguments. I’ll start. Look at her age. She’s 20 years old. Seems healthy and has a good chance to live a long life. By 60 years old, she has already received over $2 million which beats the $1 million. But some people would argue that getting the $1 million can be invested and grow bigger. For some though, the $1000 is a good addition to their life and could provide financial stability even more. If she has control, she can even DCA the half of $1000 every week into bitcoin and watch it grow. What are your thoughts?

$1000 per week = $52,000 per year
19.23 years = $1,000,000

I don't know, but I think she did the right think to get $1000 per week. I mean if she's not that extravagant and lives below her means then that would be better. Also, that's a better approach as well if you can't control yourself whenever you have huge amount of money on hand. The only problem that I see on this one is inflation, but as long as she invest a portion of it for the next 40 years, I believe she will be financially okay AS LONG AS SHE WILL NOT PUT IT ON MEME COINS.

Anyway, we aren't in the position of the girl who win (congratulations to her anyway). Whether it's a million dollars or a thousand per week, if we don't know how to handle our money, it will be pretty much useless.

[Alone055]

A 20 year old won a lottery but instead of getting the won 1 million USD prize, she decided to opt to get 1,000 USD every week for life.

https://x.com/stats_feed/status/1998828027661385758?s=61

Is she right to choose the $1000/week? Let’s hear the arguments. I’ll start. Look at her age. She’s 20 years old. Seems healthy and has a good chance to live a long life. By 60 years old, she has already received over $2 million which beats the $1 million. But some people would argue that getting the $1 million can be invested and grow bigger. For some though, the $1000 is a good addition to their life and could provide financial stability even more. If she has control, she can even DCA the half of $1000 every week into bitcoin and watch it grow. What are your thoughts?

I think it depends on what a person thinks they can do with the money if they take the lump sum amount, because it's true that someone with a proper plan and a mindset for investments and businesses can use that amount very well, because it's a large amount, and having such a large amount allows you to utilize it properly if you know what you need to know. Receiving $1000 weekly is good, but that can only allow you to have a better and more stable life, and if you are from a first-world country, that wouldn't even give you much stability.

If I were given the choice to choose between the two after winning the lottery, I would definitely go with the million dollars at once because I know I can do a lot of things with that money. I can start a medium-scale business, do some investments in cryptocurrencies, gold, and maybe even real estate. Taking $1000 a week might give you more value in the long run, but it won't give you enough room to do much.

[Kasabus]

A 20 year old won a lottery but instead of getting the won 1 million USD prize, she decided to opt to get 1,000 USD every week for life.

This is wisdom application and we can't expect to have huge sum of money with us and keep them all together for long without diverting the money on others things, though as an old woman, i don't expect her to go into any form of investment because of age, but instead, I still go along with their decide being the best for her to live to spend her winnings over time, enjoying it.

This is true, even those who are completely adults still go wrong with their winning funds, how much more for this young lady who has not seen yet the real battles in life. So I also see her option as wisdom, not for others but for her own self to live comfortably and stress free from those financial issues. In fact, $1000 weekly is quite big already, if she knows how to manage her funds, she can still save a lot and think of any other investment that she can be good at her age. At least her future is quite bright already knowing her finances for the next couple of years are already secured.

[Hypnosis00]

With her age, I don't think she'll be able to manage it right the amount of her total winnings. Most likely, it will only go to her wants and unconsciously spending it all to sustain her life's cravings. But my question is, does she have no parents or reliable guardians to guide her in her finances? Because if she can get even half of her total winnings, that could be a good investment capital for her dream investments, and the rest she can get it monthly for her allowance and emergency funds.

However, if she has no current plans for her money, its better to leave it that way as long as she holds a contract of their agreement and that any time, she can withdraw her funds if sudden needs arise.

Some people at her age are already wise thinkers, as their minds are already exposed to what will be the possible profitable investments that can achieve faster financial stability and security at an early age. And with that, people who have great initiatives to start early investments are mostly known that they are also good in financial discipline, so I think having that 1 million usd prize will not go into waste, except for those early adults who have not been exposed to financial crisis, they will never understand the value of money and on how to increase its current value through investing.

[Yamifoud]

Maybe the reason why she want $1000 for every week instead of $1 million prize because she feel that she doesn't good to maintain her financial condition and you know that the history people who won the lottery is quite bad because some people are lost their money prizes rapidly because they were unable to managed their financial and eventually became an poor again so, i assume she doesn't want this thing happened to her in the future besides that as 20 years old women probably she hasn't have the experience to build the bussiness or managing huge money and i think she has make the right decision

That's one of the reasons probably. I understand her mindset. Security is more important than having instant wealth that could vanish like thin air when not properly managed, or when sudden emergencies arise and you have no other choice but sell your property or wealth.

Also, she knows the danger that comes along upon winning from lottery. Maybe she does not want to live that kind of life where she has to be extra careful at all times to avoid falling from bad guys or criminals. In short, all she want is just security for long term financially and emotionally.