I'm a smoker, so let's assume that I would lose 5 years off of my expected life time (assuming I don't quit), causing me to lose a total of 10 years off the bat. However, say that I use the $$ to purchase a new pair of lungs and instead of losing 5 years, I have actually prolonged my life for 10 causing me to break-even and living the life I was meant too. X= $100,000 minimum and I could keep working, using the payments to keep Jude Law & Forrestt Whitaker off my back.
A completely hypothetical question. Assume that you someone offers you a deal that would pay you a yearly annuity of $X per year, every year, until you die. Your "payment" for this annuity is dying 5 years earlier than what you would if you did not agree to the deal. Your age of death is unknown.
What is the minimum value of X that you would agree to this deal?
I'm young (21), so barring any accidents, it's probably safe to assume that I have 60+ years of life left. Five years of life is a lot, but if I could ensure comfortable living for the rest of my life now, it might be worth it. I think I would make this deal if offered $250,000/yr or more.
Also, assume the yearly payment increases with inflation.
Write this post down and put it in a ziplock bag in your freezer. Take it out when you are 60 and ask yourself the same question again. There has to be other ways you can make $250K. I mean, look at some of the pantloads who are doing it now. You're at least as good as many of them, right?
I'd do it for 100k a year, indexed every year for inflation.
I'd rather live now than later. Sometimes I often wonder why I'm working so hard all my life just so I can retire someday when I'm too old to do anything anymore?
I'd rather live happy now, and die earlier later when I'm miserable.
So what's stopping you? It's a very serious question & I applaud you for thinking about this. I completely agree with your thoughts & fortunately had an epiphany in college which completely changed my perspective on life & what's 'really important.' Money doesn't necessarily equate to happiness; is quality of life the most important thing?
since we know not the day nor the hour we will be called up, you have to assume that you are going to Die the minute you take the offer. So if you are willing to die today, right now, then you should put a will together before the deal is made saying were the money goes and ask for enough to make those in your will comfortable. That being said I don't think any amount of money would make my family comfortable that I died today or anytime thus, no deal in my book. But $1 Billion would probably help so if I had to choose an amount I'd stick it to the man.
Think of the tax burden on your family. Think of the children!
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