Canada teen wins $1000 a week for life on 18th birthday

>Canada teen wins $1000 a week for life on 18th birthday
>Choice between C$1m or earning $1,000 a week for life
>Had to consult financial adviser because too stupid to make the choice
>"I want to study photography. One of my dreams would be to work for National Geographic"


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>C$1m ($780,000; £550,000)

>op unironically thinks 1million in cash is a better choice than
holy shit why are there so many high time preference niggers on Veeky Forums now?

Are you fucking stupid? I said she had to consult someone, because it wasn't immediately obvious to her what the better choice was (which the 1000 obviously is).

$780 a week is comfy neet money

id take that too

She will still fuck it up somehow

>He unironically thinks it's better to get a (((promise)))) to 1k a week which will not be adjusted for inflation than it is to get 1million in your hand RIGHT NOW which you can easily invest to get comfy gains nearing 1k a week and still retain the flexibility to liquidate when a good investment opportunity comes up (eg: during the next market crash)
>the absolute state

yes, you will get more money
1) IF you live past 38
2)BUT will loose the chance to invest or to have a house pre 20 and work for mere pleasure
what i mean: 1000 per week it's the best only if u don't know how to manage money

>I don’t understand the time value of money, the post

1000 dollars a week is the obvious option however there are other issues here.... what if the lotto company becomes bankrupt? What if the dollar collapses and thus deflates all currencies causing 1000 Canadian dollars the equivalent of 100?
If all stays the same for 60 years than you are correct, however thereally are scenarios where the 1 mil is a smarter choice....
I also wonder what type of returns you could receive by holding in a high interest savings fund or certain investment's.

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>a "promise" to get inflationary unstable ready for a crash currency
>taking anything but everything right now

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>4 weeks a months 12 months
50k year
20 years for a mil
haha that bitch dun goofed

You also have to consider taxes

>takes one million
>puts it into link
>3 million link
>worth 300 million within 2 years.
>worth 3 billion within 5 years

>I also wonder what type of returns
Agreed. The leaf got raked

>take 1 million
>take half and annuities and other half as lump sum
>invest lump sum in indexes
>now you're making ton of cash

Exactly. I woulda gone for the $1M straight up

This, /thread

Biz is 99% retards who believe they have above average intelligence because they browse some obscure asian cartoon board. Y'all are gonna die poor, a considerable chunk of you will commit suicide

How much of that $1M would've been lost to (((taxes)))?


Around 40%


When has a lottery company ever gone bankrupt? Any time there's a big jackpot or a good winning story like this one it drives up sales.

She would have to not expect to live her current age plus a year to come out ahead.

You take the lump sum and you waste it on garbage and everyone coming out of the woodwork and wind up worse off than you started.

If that level of inflation happened, having the million now wouldn't do shit because whatever you bought with it wouldn't be sustainable later on. Look at the people who "won" home makeovers so lavish they couldn't afford the higher utility bills and property taxes and had to sell.

no it isnt, with1MM you can buy 2 big houses, and rent them for 2K/month for life, and sell those houses after 5 years and repeat with a 3rd house

>taking the 1k over the 1m
Op you're such a dumb faggot

Nothing, we have exceptions for windfall winnings here as they aren't considered income. Interest is still taxed but she could max out her RRSPs and TFSAs to counter most of that as well, since TFSA earnings are post-tax and RRSP contributions get you a refund on your tax return.

Brainlet haahahabahahahab

agreed but an 18-year-old girl that is a negative trait

lottery winnings are not taxable in Canada

So you want her to spend a million dollars now, plus property taxes and upkeep and insurance so in a few years she can pay capital gains tax and hope the market hasn't shit the bed and the do it again, for $4000 a month if they are continually rented...

Or she could literally just take $4000 a month like she did and do nothing else for it and get it every month for the actual rest of her life.

"But I will live longer than another 19 years so the $1000 a week works out more in the long run"

Fucking retard. If you wouldn't take $1M now, you don't belong on Veeky Forums. Also consulting a financial advisor is a good move, make sure he's Jewish then strongly consider doing the opposite of what he says. My financial advisor just told me to remortgage my house to fix the interest rate. Fuck that, now I'm free to make overpayments and reduce the capital debt much faster.


I'd take the 1 million and trade it for something that actually has value.

She was actually smart to consult a financial advisor and discuss all the options to find what suited her best.
I cant believe you'd be shitting on an 18yr girl with no experience, taking professional advice.

Personally id take the money up front, but thats because id wager on making quicker profits myself with the capital. She doesnt want to mess with that stuff so its a comfy income of 1k a week instead.

Op you need to learn the ways

hello brainlets, i see you don't understand the time value of money

She absolutely made the right choice. I mean personally I'd have taken the C$1m and put it 50/50 into hrhr investments/safe investments but she made the smart safe choice particularly for someone her age.

$1k guaranteed per week for life is a safety net which makes otherwise typically stupid girl ambitions like "I want to study photography" fair enough.

If you take the $1m then you have 19 years to turn it into a sustainable passive income source that gives you over $1k a month.

>take 1M
>all in link

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Chads take the 1M and invest it wisely, Soy's take the 1K and live moderately

99% of the retards here on Veeky Forums would piss it away on retarded shit like women, cars and drugs

Just look at the catalog for proof.

>what is inflation
if she only knew about shitcoins
she could make tens of millions with a little luck

I would've taken the 1M and then I would've put 925k in REQ and then I would take a 2 year NEET-hiatus

1 mil in index fund for 8% compounded annually is 80k+ yearly

Implying you'll ever find more than 2%

1m now invested at 5% a year is 50k pa, throw in that if the company doing this goes insolvent in 10 years, you're fucked. Realized gains are the shit.

Good luck getting that through the taxman. Your 1MM will become 500k quickly enough.

Anons have a point though when it comes to reinvesting. Also forgot about inflation.

I'm always worried that the companies for these things will make sure you don't live too long

>throw in that if the company doing this goes insolvent in 10 years, y
lottery is run by the government in canada retarded brainlet

>implying canada won't be annexed by 2028

nice meme

No taxes on winnings in Canada.
Hell, if I go to Vegas and win, I get a little slip of paper when they give me my money and later they send me a cheque for the tax they had to take on-site because they can't verify at time of pay out.

She's in Canada so no taxes on this. Can none of you fucking burgers read?

yall niggers changed my mind around, legit

just give it up, user. you're a 105. many people here are much smarter than you. you should try to learn from them rather than get angry

$1M invested at 3% yearly ROI = extra $30k per year = extra $2.5k per month

>>If that level of inflation happened, having the million now wouldn't do shit because whatever you bought with it wouldn't be sustainable later on. Look at the people who "won" home makeovers so lavish they couldn't afford the higher utility bills and property taxes and had to sell.

a fucking grand a week won't be shit 10 years from now. it'll be closer to $480 a week at the rate we're going.

compared to a million?

look retards

a million in a CD account is like 6% per annum. That's $60,000 right there which is already more than the $52,000 she is already earning.

Here's the kicker tho. Taxes. Of that $1 mil, she's looking at maybe like $650,000 if she's lucky. seeing this is the UK it could be even higher.

a grand a week could really only count as salary or individual income and would be taxed at a much more fair rate.

adjusted for taxes, a grand a week maybe the right play. but for the most part, any man worth his grit would take the mil and invest it into long term gains and come out better.

The "for life" is just marketing. It is payments for 25 years.

oh shit yeah, then the 1MM upfront is the better play.

Here the deal niggers. as a dumb young woman, she's far, far, far better off with the grand a week. knowing she could fuck it up in a million different ways.

You'd get taxed out the asshole on any reasonable gains since $1mm is far beyond the limits of any tax exempt accounts.

Taking the drip feed allows you to slowly funnel it through channels that either don't get taxed on gains or get you a rebate against your income taxes, and lotto winnings themselves here are tax free.

Even if you invested it all and then moved it into registered accounts over time you'd be paying capital gains every time you did.

>Not Spending the $1000 on a new brapper every week

A grand a week now may be worth $500 intended years but she will still be getting a grand of ten year's from now money every week in ten years. A million now would only be $500,000 in ten years, less if her investments go bad or the housing bubble pops.

Once again for the slow Americans here:


Interest on winnings IS taxed so investing a lump sum brings a higher tax burden.

>4 weeks a months 12 months
>50k year
everyone is right, the stupid bitch shouldve taken the million.
even if it was 500k itd still be better to take the money up front

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There are 52 weeks in a year.

I'd check the contract or terms to make sure it actually is life.

Anyway 1m into s&p would of been the best choice. Even just putting 500k into term deposit or bonds and the other 500k into s&p would still be better than taking 1k a week.

Australia also isn't taxed on windfalls but with the weekly thing I'm pretty sure that's taxable as its defined on the tax website that a windfall is once off not regular payments.

Holy shit, just because niggers can't handle money doesn't mean having the cash now is not the best move you can make. I could get the $1MM immediately, invest it and make $1k a week off that almost passively.

>many people here are much smarter than you. y
this board is full of literal brainlets such as yourself, what are you talking about?

>A grand a week now may be worth $500 intended years but she will still be getting a grand of ten year's from now money every week in ten years. A million now would only be $500,000 in ten years
Plz leave

Fuk i legit thought there were smart ppl on here. You idiots choosing the $1k will never make it in crypto.

I currently have $2mil in crypto from 6 months ago peak was 5mil. If you cant answer this question easily you should give up crypto.

did you even read the article?
>the absolute state of Veeky Forums

>Get $1000 a week
>Get loan of a million dollars
>Make investments while paying it off

WTF why didn't you cash out? What is your end game?

1,000 a week u can live in a rich city p comfy honestly...

what are you talking about, you absolute brainlet? taking $1k weekly gives the best returns in the long-term

1k a week is a good choice, nothing is stopping you investing with it and it's stable income. I can imagine how you retards would make that 1 mil into 20k trying to daytrade your chuck e cheese tokens.

>mfw neets here take the 1 million and gamble it all away on crypto

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maybe because he has 1k dollar only invested and is just bullshitting?



The obvious choice is 1m now but we are talking about 1m in the hands of a woman. They can't even spell investment. I can see it lost in dumb ways. Most parents would still be satisfied knowing their daughter has guaranteed minimum income for the next decade or two.

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Lmao @ all these 1k a week brainlets. Is it a meme now to act fking retarded on Veeky Forums or is this the reason why half of u fkers literally have no chance to make it besides crypto

dumb bitch wants to work for national geographic. i seriously hope she gets gang raped by a pack of wild niggers and pajeets.

No it doesn't. I didn't read the article but I'm gonna assume no tax on the 1m as there is no tax on windfalls in most countries.

>shove 500k into a bond or term deposit 3%. That's 15k
>500k into s&p or any managed fund which invests in the top companies in the world, will vary in growth but for last last 3 years was 8-13% so 40k a year minimum
>55k total minimum but would probably be more and if you put the full 1m into s&p you are even better off but it poses more risk.

There is tax on lottery payments that aren't once off payments in Australia I imagine other countries may be similar. So tax argument isn't valid in either circumstance.

The 1k is only the better if you think you'll waste the money instead of investing it smartly

as opposite to all the smart people on biz

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if its not adjusted for inflation take the 1m

>Fiat currency in 50 years
Pick one

I pick FIAT

Reason:I have my own company and I am rising up my prices every year pretty much between 5 to 10% and since the last 6 years my company is still growing.

I guess if you area wage cuck then yeah FIAT isn't the best thing but if you are owning your own company its much more easy with FIAT.

Consider the age group of people here tho.

When you frame the question 1m or 1k for life, most young people just assume 1k will roll into your account like magic. No, it's a company that pays you out. If the company goes under so does your magical 1k/week payments. How can anyone assume the company won't be outcompeted or bankrupt? Then you have to worry about central bankers diminishing your purchasing power. I'd take the 1m even if the 1k/week was guaranteed by the state.

Besides what does 1k a week buy you anymore? That shit might have been great in the 90s. Now in current year you can live like a NEET in your parents' basement or live alone in low cost of living area, maybe overseas in a developing nation. You can't raise a family on that today with how expensive it is. With the 1m, at least you have a decent chance.

A (((friend))) told me that you can't retire off 1m anymore. I was shocked when he uttered it to me but the kike was absolutely correct. You need 2m now and I'm guessing in 15 years you'll need double that.

I don't think you guys take in consideration that 1 mil up front will fuck you with taxes.

$1000 a week for life is $52k a year. That’s it, done.

$1,000,000 is $1,000,000. A decent rental yeild will be about 5% a year, plus about 5% appreciation a year. So you’re earning $50k the first year, 52.5k the 2nd year, 55.125k the 3rd year. This is more than $1000 a week on the 2nd year.

>> 8599756
Lotteries are done by the government in Canada and it's tax free.

noone is going to make it in crypto you filthy pajeet. and good one about having 2m, i bet you dont even have 2k you fucking brainlet kys

send me a link on how to start living in canada, gimme tax free lotteries goddamnit.

Lotteries are done by the government in Canada and it's tax free.

>ever playing the lottery

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According to article it says she chose 1k CAD / week because it was tax free as opposed to the 1m because the latter is taxed.

Obviously 1 mill now > 1000$ a week for life
Fucking retarded
It would take almost 20 years to get to 1 mill at 1000$ a week, also that's not with adjusted inflation, if you bring inflation in you may never break to 1 mill today

And as anons pointed out, you can immediately invest the 1M for further gains.

......$12,000 per year.
You'd need to live 84 years just to get the $1,000,000 in cash. And even if taxes take a huge chunk of that, you'd still need like $50 years. And that's not considering the interest and growth of your million.

Fuck all the trolls in this thread $1,000,000 is the better choice.