I’m talking down time on a shift not on off time. Professional (as in paid not volunteer) most often work shifts that are at least 24 hours long. I’m sure there could be some gym time but they are expected to be able to go at a moments notice and not be wiped out from working out. I know we were not allowed to work out at work even during lunch because any injury would be workman’s comp. I’m sure other places have similar rules. They have many off days for that. The ones I know tend to work 24 on 48 off with some overtime thrown in there. Work consists of sleeping, eating, training, equipment maintenance and trying not to be bored (video games). Then there are alarm calls and things like assistance at accident scenes. Actual fires tend to take up the least time. They get paid for what they might have to do not what they do. Things are different in departments that do both EMT and Fire and switch off roles but there are none like that around me.
I’d like to think the same thing, but I know me. I’ve worked with me before.
She’s not volunteer. Maybe she works out on her own time, maybe I’m just wrong.
I know she got to deliver her first baby. That was cool. I’m really proud of her. She has always been athletic and strong and willing to do anything. I have always admired her for being that resilient.
But I just wouldn’t want to do it.
I have never seen anyone with any knowledge of finance who thinks the annuity is a good idea. All you have to do is not be a dumbass and the lump sum works better. Take a chunk to do with as you please and hand the rest over to a well established professional firm to handle. You will wind up with a lot more money.
I edited to the above post not sure if you saw it. We had a gym at work. When they realized some were using it during their lunch break they took it out. Too much liability. Anyone hurt during work hours would be workman’s comp.
Very much this. But winning would mean I can afford the life-saving surgery so… Nah, I still voted lump sum because then I can make arrangements for most of the sum to go to people with health emergencies, mental health care, etc., now!
Oh! I wasn’t considering return on investment for the lump sum. Maybe how old you are is a deciding factor.
I would like to imagine I would donate most of it, but set it up as an endowment or something to maximize ROI. I’ve always fantasized about giving my agency an obscene amount of money.
I would keep enough to still have a ridiculous amount of money for myself. I’d buy some stuff for my Aunt and Uncle. Uncle is getting a Tesla for sure.
I would certainly hire a very good financial advisor to better understand the issues.
I used to be a “spend it all” kind of person but that’s changed considerably over the years. Usually when we get a windfall we sit on it for a couple weeks, take some portion to do something fun, and then park the rest in investments. I’m guessing it would be the same process. Unless that much money somehow short circuits my brain.
I would actually hire two, and have them work independently.
mmm
In my fantasies about hitting “The Big One” I always stash $20 million or so in overseas accounts my financial advisors don’t have access to. I let them know this, that way they know that if they embezzle anything/everything I’ll still have enough to have them whacked wherever they might run.
Time to by a ticket. The payoff is getting huge again.
Yeah I guess this is all moot because I don’t gamble. We got a lottery ticket for Christmas and I’m not even sure I was doing it right. It was one of those match three and win, but was I supposed to scratch off only three, or all six of them? I scratched off all six and got bupkis.
Emphasis added.
Well, see? That’s my problem. I am quite the dumbass when it comes to money.
Yeah, I’m never doing anything like that no matter how much money I have.
I have the feeling some people may be fibbing a bit on the Home Emergencies III. That stuff’s not real.
Well, except for the haunted house one, that’s real.
Several years ago on Halloween a group of teenage trick-or-treaters came to my door. One of them claimed he used to live in my house, and that he and his family used to see ghosts when they lived there. I’m not completely sure if he was just trying to mess with me, or if he actually believed this house is haunted.
But that’s why I selected the haunted house option in that poll.
Why not though? We talked with some of the revelers and they were having an absolute blast. My evening was made better via osmosis.
I would do something like that in a hot minute if I had the cash. Sounds like a lot of fun!
Too many people. Worth the food? Maybe.
I’ve never been on board someone’s private yacht, but I was once a guest on a luxury cruise (I didn’t pay for) which involved a lot of eating in fancy restaurants all over the Mediterranean. It’s rare that I remember a meal, but I still remember eating caprese salad in Positano, Italy at Le Sirenuse. In 2007.
I think I’d take my lottery money and go back to that area, especially Greece. I’m not much into travel these days, but that’s mostly because of the effort involved, and in this case you can pay people to make the effort for you. Shit, for that much money I could pay someone to pack.
Mine turned out to be friendly ghosts, though –
For that much money, you don’t have to pack. You hire somebody at your destination to make sure that your room’s fully supplied when you get there.
And that all the clothes fit.
I’ve known so many people with ghost stories, I definitely believe something’s going on there. That something is not deceased souls roaming the halls, but for example one study that I know of found an inaudible noise frequency that invoked feelings of dread in the subjects. I suspect it’s a combination of a bunch of stuff like that, which yields a memorable, fantastical result.
But really I have this superstition that if I don’t believe in ghosts, I’ll never have to see one. I’d rather not.
I’m a financial professional. I’m an actuary, and had to pass exams on the time value of money to get my credential. I think the annuity is a good idea.
For the amount of money in this poll, maximizing the present value of the payoff is less important than how you will interact with the money. Because either way, you’re going to have enough money. So the right question to ask isn’t “how will i have more dollars?”, It’s “how will i have more joy?”
Kayaker will enjoy spending the vast sum, so for him, that’s a good choice. I would find that vast sum stressful. It would own me. I’d feel responsible to do something wise with it. And “invest it” wouldn’t cut it. I’d have to give a lot away, and figure out what would be an impactful way to do that. And I’d probably feel guilty about but giving away enough. But if i had the giant annuity I’d never have to worry about cash again, and i could give large gifts to the charities i already support without the stress of trying to make it a game-changing gift.
I have the tools to run both payouts through expected value scenarios and compare which gives you more present-value-adjusted dollars. I didn’t bother, because that’s not an important question.