Would you rather take a guaranteed $100,000 or a 50/50 chance at $1,000,000?

[killamch89]

I'm taking the guaranteed $100k because you can always do some investment or even start several new businesses with that kind of money. Which would you pick?

[The Blackangel]

The 50/50 for $1,000,000 is tempting, but I would have to go with the guaranteed $100,000 as well. There's so much I could do with it, that I wouldn't be worried about losing any of it, because I would be investing it through a highly reputable stock broker. The rest of it I would blow on a few toys. Like my favorite car, and a couple collectibles that I have always wanted.

[killamch89]

12 hours ago, The Blackangel said:

The 50/50 for $1,000,000 is tempting, but I would have to go with the guaranteed $100,000 as well. There's so much I could do with it, that I wouldn't be worried about losing any of it, because I would be investing it through a highly reputable stock broker. The rest of it I would blow on a few toys. Like my favorite car, and a couple collectibles that I have always wanted.

Yeah - if you lost that 50/50 - you'd be even more devastated because you'd be right back at square one but the psychological impact of missing out on that $1m will bother you for years. I'd much rather the "safe" option in this case which is the $100k.

[The Blackangel]

12 hours ago, killamch89 said:

Yeah - if you lost that 50/50 - you'd be even more devastated because you'd be right back at square one but the psychological impact of missing out on that $1m will bother you for years. I'd much rather the "safe" option in this case which is the $100k.

I think the loss of the million would be less devastating than the thought going through your mind "If only I had taken the hundred grand..."

That to me would be more devastating, because the hundred grand was a guarantee, but you threw it away for bad odds at getting 1 million. And with that $100k, if you invest it right, you can easily turn it into more than 1 million. That amount of bank can grow quickly and massively. So you wouldn't really be missing that million for long.

[killamch89]

9 hours ago, The Blackangel said:

I think the loss of the million would be less devastating than the thought going through your mind "If only I had taken the hundred grand..."

That to me would be more devastating, because the hundred grand was a guarantee, but you threw it away for bad odds at getting 1 million. And with that $100k, if you invest it right, you can easily turn it into more than 1 million. That amount of bank can grow quickly and massively. So you wouldn't really be missing that million for long.

In situations like this, it's always best to follow the "safe"/"logical" choice rather than let greed cause you to make ridiculous decisions.

[WillyEAroyo]

I usually never had any luck on any bets, I would choose a guaranteed payment, since with such an amount you can really think of something, invest successfully and then get interest from it. Moreover, I found a new job on this site (hyperlink removed) and now I can even save money and make some plans, so I choose the one in which I will be confident.

Edited August 26, 2021 by Shagger