Which would you rather have?
- Thread starter Marla
- Start date
The money, for two reasons.
1. The (albeit tiny) chance that during the period between magically acquiring said home and realising that magical acquisition does not necessarily include insurance, someone burns the fucker down.
and the more likely chance that
2. If I had the home I would ride that gambler's high as long as the value keeps increasing. Not only would I no doubt hold on to it until the value goes down and therefore gain nothing, (or worse, lose money), I wouldn't be taking advantage of my newfound wealth since it is tied up in a single asset.
I ain't greedy. 2 million would be a wonderful thing as is, full stop. Why push my (always shitty) luck?
1. The (albeit tiny) chance that during the period between magically acquiring said home and realising that magical acquisition does not necessarily include insurance, someone burns the fucker down.
and the more likely chance that
2. If I had the home I would ride that gambler's high as long as the value keeps increasing. Not only would I no doubt hold on to it until the value goes down and therefore gain nothing, (or worse, lose money), I wouldn't be taking advantage of my newfound wealth since it is tied up in a single asset.
I ain't greedy. 2 million would be a wonderful thing as is, full stop. Why push my (always shitty) luck?
Cash for me too. I'm not a gambler and I'd rather have the sure two million in the bank. At my age, it'll last me the rest of my life, having fun at my favourite hobby, and still leave an inheritance for my daughter once I'm gone.
The cash. Then I might be able to hire Marla to work for me full time as my personal eh, hum, chauffeur. I'd be able to give her all types of benefits.
I'd take the house.
If I took the cash I'd end up blowing it all away in self-indulgent behavior, like hobbying.
If I took the cash I'd end up blowing it all away in self-indulgent behavior, like hobbying.
If you are asking an investment decision, it depends what the rate of return after expenses and taxes will be on renting/selling the home vs. holding the cash or investing it elsewhere.
If you're talking about a charity lottery win, I would take the cash, since a) I can save or spend it any way I can right away, and b) the sale of the home will attract taxes if it's not considered my principal residence.
I average 20+% returns on my investments..only because I work in the field and manage my portfolio. The lowest I have earned was 14%
As for Taxes, I am referring to the $8K/year you would be paying in Property Taxes. The other loss will be the 3-5% you dish out as comission to the Agents..
With a house you bleed money even if you own it Free and Clear.
with $2M.. even at 5% return you can live comfy on 100K even after getting taxed.
Lotto wins are the worse... people come out of every bush seeking handouts
Oshawa isn't exactly that far away from Toronto... maybe you should relocate further out.
Your right, it's not that far out, but it is not part of Toronto. I actually like it here.
I agree about the house but people coming out of the bushes is the least of my concerns if I won a lottery.
BTW, do you get those returns for your clients, or just yourself?
