Time is Money
April 14, 2011 8:08 AM Subscribe
What should you consider when sacrificing time for money? Would you be be willing to sacrifice all ten years of your 20s (no memories, friends, or experiences) for $10 million on your 30th birthday?
I am captivated by the idea of sacrificing a fraction of my life in order to live extremely well for the rest of it. There are even certain careers (working your way through an investment bank to a hedge fund, for example) that would allow for something like this.
The bottom line is that you would never have to worry about money or let money dictate your decisions, after the payday. All of your friends will have had relationships, life experiences and possibly children, and you'll have none of that. You will, however, have the freedom to have all of those experiences after you turn 30. By placing your ten million into a low-risk mutual fund with 3% annual interest, you could live on a $300,000 annual salary for the rest of your life, while preserving your wealth for future generations.
Essentially, imagine being placed in a cryogenic chamber on your 20th birthday and being thawed out the day you turn 30, with ten million dollars in your bank account.
What's your take on this?
I am captivated by the idea of sacrificing a fraction of my life in order to live extremely well for the rest of it. There are even certain careers (working your way through an investment bank to a hedge fund, for example) that would allow for something like this.
The bottom line is that you would never have to worry about money or let money dictate your decisions, after the payday. All of your friends will have had relationships, life experiences and possibly children, and you'll have none of that. You will, however, have the freedom to have all of those experiences after you turn 30. By placing your ten million into a low-risk mutual fund with 3% annual interest, you could live on a $300,000 annual salary for the rest of your life, while preserving your wealth for future generations.
Essentially, imagine being placed in a cryogenic chamber on your 20th birthday and being thawed out the day you turn 30, with ten million dollars in your bank account.
What's your take on this?
This post was deleted for the following reason: This is kind of hopelessly chatty as presented. -- cortex
My immediate thought on this is that most people are still changing, blossoming, and developing in their 20s. Your brain and your relationships are still forming, and it's a pretty important time to do this.
I don't think I could have survived this life style in my 20s, but I have a strong need for social and human interactions. Although, working really hard for something doesn't have to mean you live in a cyrogenic chamber, does it? But no, I wouldn't go for this in my 20s. Maybe my 30s.
posted by Rocket26 at 8:13 AM on April 14, 2011
I don't think I could have survived this life style in my 20s, but I have a strong need for social and human interactions. Although, working really hard for something doesn't have to mean you live in a cyrogenic chamber, does it? But no, I wouldn't go for this in my 20s. Maybe my 30s.
posted by Rocket26 at 8:13 AM on April 14, 2011
This is the plot of PKD's Paycheck (and movie), even if Ben Affleck can't act his way out of a paper box ..
posted by k5.user at 8:15 AM on April 14, 2011
posted by k5.user at 8:15 AM on April 14, 2011
Chatfilter. That being said, given a reasonable lower bound on your income, letting money dictate your decisions is a choice you make. You don't need $10M to not worry about money.
posted by bessel functions seem unnecessarily complicated at 8:16 AM on April 14, 2011
posted by bessel functions seem unnecessarily complicated at 8:16 AM on April 14, 2011
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posted by you're a kitty! at 8:12 AM on April 14, 2011