Would you rather this right now,
Or this over time.
The newest lotto game from the Irish lotto is called Euro dreams and is paying out €20K every single month for the next 30 years. Sounds nice doesn't it.
They are playing it constantly on the radio which i listen to while i'm working so it's hard not to think about winning it. I haven't bought a ticket for it yet but I'm sure that the constant marketing will wear me down over time.
It's over double the current national jackpot but that would be paid out straight away, tax free.
Not that I'm going to win either of them but as a matter of interest,
Which would you rather?
A big win right now or a constant stream of income over time.
For me it's the long term play just like my crypto and other plans. I think that 3M would be great but there are a lot of problems that come with that kind of win.
It's also half the total of the other pot which in theory you could easily double your money over 30 years but in reality you could lose a big chunk of it on silly investments as well.
€20K a month, every month is guaranteed security for you and your family for almost the rest of your lives. You can still invest smaller amounts regularly but there is no fear of it running out.
You know that even if you blow 20K this month that on the first another 20K will be deposited into your account again. That's what I've been working towards on Hive for the past 7 years. A steady stream of income every month without having to work for it.
That financial freedom that opens up the whole world to you when you get out from under the thumb of an employer and regular work hours.
I also think that the novelty of having 3M in your account would wear off fairly fast. You buy the big house, the car and a few presents for everybody else and then half the money is gone and it's only sitting there waiting to be spent.
It's called lotto dreams for a reason. It's exactly what i would love to win.
So many options with that kind of money coming in and lots of ways that you can direct your life going forward. Investments, businesses, hobbies. Whatever way you want to move forward.
If only the odds weren't so bad.
Odds of winning the Top prize:
1 in 19,191,000
Posted Using InLeo Alpha
Oh wow, the odds are so freaking slim. 30 years is a long amount of time and having a consistent €20,000 will reduce a lot of one's future financial worries. No need to work to make a living.
One possible downside is that 20,000 euro might only buy you a loaf of bread in ten years if prices inflate the way many predict. I think I'd prefer to take my chances with the 3 million.
Now, if we don't refer to the fact this is a lottery and to the win chances, if the inflation rate doesn't go nuts, the monthly payments seem the better option over 30 days. They would pay 7.2m Euro over the period, and inflation erodes the 20k payments over time, not from the start. Frankly, I'm not versed enough in this area to calculate which of the two options would be better, let's say, if you have an average yearly inflation of 3%.