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Well, What if I for sure give you 1000 bucks today OR I may give you 2000 tomorrow. Which would you pick? What if you had this choice for 30 days straight?
by simplehuman 10y ago
Well, What if I for sure give you 1000 bucks today OR I may give you 2000 tomorrow. Which would you pick?
What if you had this choice for 30 days straight?
- charlesdm 10y agoIt would depend on how the "OR" is determined, so you can assess the risk?
- simplehuman 10y agoI think that's the point of the post. If risk is hard/impossible to assess which would you take?
- charlesdm 10y agoWell, you would still have certain data points to make a decision from. If you've been part of an industry for a while you'll start understanding it. Second, if you already have a ton of money, you might take on the additional risk to get 2x instead of 1x. Say you have $20mm in the bank, generating 10% a year, then getting a $10mm payout instead of a $5mm is probably worth it, since an extra $5mm won't change your life. If however, you have $100k in the bank, then you should probably take the $5mm.
- peterbonney 10y agoExactly. Two people can face at the same choice with the same facts and same assumptions and come to different conclusions because of their individual risk preferences. Neither is necessarily wrong.