All monies are tax free
2007-02-15 05:21:08 · 25 answers · asked by mymagicshowuk 3 in Entertainment & Music ➔ Polls & Surveys
£7,000 a year for life. Don't need a large cash injection right now if the alternative is to have regular income for the rest of my life. Would rather have the security rather than a large sum of money burning a hole in my pocket. I'd probably blow it or not touch it for fear of blowing it! At least you can budget the £7000 and make sure it has a good purpose. Probably a really boring and conservative answer but there you go.
2007-02-15 05:26:10 · answer #1 · answered by Jennie B 2 · 0⤊ 0⤋
Since I am young, I'd take the 7000 a year for life as I would earn more money that way... eventually 100,000 would make it into my banks where I would let it sit in there and accumulate interest over the years while still making an additional 7000 a year... oh yeah
2007-02-15 05:28:28 · answer #2 · answered by Wicawango Fan 2 · 0⤊ 0⤋
If you take the 100,000 and invest it, it could turn into a tidy nest egg. In only a few years,with the right investments, it could be returning you a nice annual stipend while continuing to grow. However if you are the type who will only spend and quickly squander it, the 7,000 for life is a better option.
2007-02-15 05:31:22 · answer #3 · answered by mustanger 5 · 1⤊ 0⤋
7,000 a year for life!!!
Mainly coz I'm only 23,and I'll get a lot more than 100,000 by the end of my life, but also because that way it would be shared out, if I had 100,000 in one go, I'd probably just spend it all at once!!!
;-)
2007-02-15 05:27:18 · answer #4 · answered by Krissyinthesun 5 · 0⤊ 0⤋
I'd take the £7000 if it was guaranteed as I expect to live for at least another 20-30 years and if I don't well so be it
I'm 44 by the way lol
2007-02-15 05:29:22 · answer #5 · answered by Zenlife07 6 · 0⤊ 0⤋
i dont know the american equivalent for that but it depends what year it starts for £7,000. if it starts now, then id take the second offer. if id live only to be 80, then id end up havin 469,000 (not including what i spend)
note: im 13 so i have a long time.
2007-02-15 05:30:23 · answer #6 · answered by Clairebear. 6 · 0⤊ 0⤋
100,000 now.Cumulative interest over the later years would easily exceed £7000,per year.At the end of first year 5% interest,which you can get at present yields £5000 in first year,and over £5500 in the second year.By the fifth year it would be exceeding 7000.
2007-02-15 05:27:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Take the 7K/year. That way you will not waste it away.
Also makes sense if you do the math:
100/7 ~ 14 years, you will get more that 100K, if you live for more that 20 years.
2007-02-15 05:28:45 · answer #8 · answered by cli168 3 · 0⤊ 0⤋
£100,000 now, I could pay off some loans and improve my life more than I could with £7,000 per year.
2007-02-15 05:33:18 · answer #9 · answered by Tony M 7 · 0⤊ 0⤋
£100,000 lump sum, cos it can be earning more interest, & if the newspaper, or whoever is running the competition, goes bust, it won't be £7,000 a year for life.
2007-02-15 05:32:02 · answer #10 · answered by Anonymous · 0⤊ 0⤋