ALS Topic 5 -
$1m now, or $1,000 a week for the rest of
your life - both tax free?
Focus questions for Adelaide Lunchtime
Seminar, 16 April 2018
The idea for this topic comes from The
Guardian, about the choice of a young Canadian woman who won a
national lottery: "Would you take £1m now, or £1,000 a week for the
rest of your life?" @
. It is worth reading the comments to see how people divide on the
questions below are not supposed to suggest biased answers. You
really can adopt any point of view your can suggest evidence for. Do
be prepared for others suggesting counter-evidence! Note: clearly
not all of these questions can be properly covered in a meetup, but
they give us a conscious choice about what to talk about while
making the background context clearer. It is up to the people who
come on the day to choose what aspects they would like to deal with.
Comments & Links
1. Your choice: So what is your choice
with $1m and what are your reasons?
2. Other people: Think of
three different personality types, and how different choices might
be suitable for each.
3. A modest budget choice: If your net
worth was about AUD$500,000 (with no property) - not so unusual in
Australia -, would you buy a house, invest it (in what?), or just
live it up for a few years? Why?
4. Budget types: How do
personal budgets differ from national budgets? [They do, though you
would never know it from the news media or politicians]
money does grow on trees: After the Great Financial Crash in 2008
the United States government simply printed money, and with a little
trickery gave it more or less free to the banks to forestall their
bankruptcy. They called this process 'quantitative easing' (or in
private, 'helicopter money'). Can any government do this? Why/why
6. Debt: What is the difference between 'good debt' and
'bad debt' ?
7. Redistributing wealth: What is a fair system
8. Money for everyone: There has been an increasing
discussion about a Universal Basic Income (UBI) in many parts of the
world. The basic idea is that everyone should get a minimum income
from the government, whether they are working or not, and would so
be freed from the risk of poverty. Both conservatives and
progressives favour it. On the other hand a number of conservatives
and progressives also oppose it. [some reading references are in the
comments below]. Do you think this idea is practical and desirable?
9. Work: Why do people work? Company managers
like to say that companies exist to make a profit. They often assume
that the same is true for why people work. Is this true for people?
Is it even true for companies?
10. Sacrifice: What are you
prepared to sacrifice to achieve real financial independence, and
what will you not give up?
1. articles at
legacy site: http://thormay.net
$1 million now or
$1000 a week
for the rest of your life, both tax free?
(c) Thor May 2018 return to