Agreed. by Tejovanth N on Openvy

him

Thought Experiment around the perceived value of money 💰 If your monthly salary is X (say $2000) and the government comes up with a lucrative scheme, where if you agree to participate, your monthly salary is tripled ($6000) every month forever. But you only get 10% of your original monthly salary ($200) in your bank account presently. The remaining amount ($5800) is deposited in a mutual fund of your choice every month, which can only be available to you to use (as liquid money) after 10 years of depositing.

Would you agree to participate in this government scheme to triple your monthly salary?

Yes, of course. I will make crazy amount of money in the long-term

46%

No chance! Even if it's lesser, I need that money available to use right away

53%

See Results

Poll ended

rajat

Can I live on $100 monthly?

him

$2000 is just to help people calculate. It's not about the expenses TBH.

rajat

that is also for calculation. Not literal $100

him

You should put your actual monthly salary and then go through this experiment @rajat

rajat

wont work then! I cannot live on 10% of my salary.

edited

vaibhav

Don't underestimate the power of compounding

❤️

him

Rajat Gupta

wont work then! I cannot live on 10% of my salary.

Even though future upside is that high?

rajat

The man has to be eat food to live!

arnab

Vaibhav Bansal

Don't underestimate the power of compounding

Not underestimating the power of compounding, but if 10% of my salary is not enough for me to survive, then I won't be participating in the scheme. Need to pay rent, need to eat food right.

edited

❤️

him

Some of you might have other folks earning in the household as well. Can their salary handle the expenses while this becomes a crazy upside for the future. No?

rajat

May be for some people 10% is enough to survive. :)

❤️

Shivani27

I don't want to restrict myself for 10 years and i believe I can find other investment options also

❤️

vrittishah

Since I have folks earning in the household, I'd do it. I'd give my money to the government. But that also has a lot to do with privilege. If that wasn't the case I don't think I can meet my basic survival needs with 10% of my salary.

❤️

sakshi

I would do it. I realize the privilege I have and would take measures to spend less. I will also be creative to take a 2nd job that doesn't interfere with my first and probably move to a nearby city that is less expensive. To some extent we all work to secure the future I feel, if this is a sureshot way to do that, why not?!

❤️

arun6094

I’d probably be fine with 50ish%

rajat

Sakshi Chowdhry

I would do it. I realize the privilege I have and would take measures to spend less. I will also be creative to take a 2nd job that doesn't interfere with my first and probably move to a nearby city that is less expensive. To some extent we all work to secure the future I feel, if this is a sureshot way to do that, why not?!

Wow! you would rather have more money and do 2nd job then spend time with family.! Salute!

edited

him

Arun Pattnaik

I’d probably be fine with 50ish%

Not an option

sakshi

Rajat Gupta

Wow! you would rather have more money and do 2nd job then spend time with family.! Salute!

European baatein mat kro

rajat

Sakshi Chowdhry

European baatein mat kro

India main bhi asea ko mara mari nahi hai.! atleast for the people reading this.!

Sakshi Chowdhry

European baatein mat kro

And before getting 2nd job for money. Change your first job 🙃

him

Rajat Gupta

Wow! you would rather have more money and do 2nd job then spend time with family.! Salute!

If people can do this as first job, why not second?

❤️

Shagun

Himanshu Khanna

Thought Experiment around the perceived value of money 💰 If your monthly salary is X (say $2000) and the government comes up with a lucrative scheme, where if you agree to participate, your monthly salary is tripled ($6000) every month forever. But you only get 10% of your original monthly salary ($200) in your bank account presently. The remaining amount ($5800) is deposited in a mutual fund of your choice every month, which can only be available to you to use (as liquid money) after 10 years of depositing.

Having 10% of my salary for now and investing the rest in mutual funds is the best option for me. I would focus more on learning new agricultural techniques, increasing yields, and experimenting with them, while having a large sum of money waiting for me in the future

❤️

rajat

Himanshu Khanna

If people can do this as first job, why not second?

Sure. They can do third as well. If they wish to.

❤️

RishabhBhaumik

I would rather the government either raises salaries or cuts cost on goods and services. People should have the freedom to be financially irresponsible.

him

Rishabh Bhaumik

I would rather the government either raises salaries or cuts cost on goods and services. People should have the freedom to be financially irresponsible.

'Financially irresponsible' 🫡

❤️

ankitsaj

Himanshu Khanna

Thought Experiment around the perceived value of money 💰 If your monthly salary is X (say $2000) and the government comes up with a lucrative scheme, where if you agree to participate, your monthly salary is tripled ($6000) every month forever. But you only get 10% of your original monthly salary ($200) in your bank account presently. The remaining amount ($5800) is deposited in a mutual fund of your choice every month, which can only be available to you to use (as liquid money) after 10 years of depositing.

It’s conditional on if I am able to receive my needs and necessity amount for the month in that 10% of salary.

pronoyb074575

Ankit S

It’s conditional on if I am able to receive my needs and necessity amount for the month in that 10% of salary.

+1

him

Ankit S

It’s conditional on if I am able to receive my needs and necessity amount for the month in that 10% of salary.

Then we're definitely not thinking about this experiment :)

Sam

If we can use leverage on the future income, I would surely opt for option 1. I would seek a loan from Bank / Close relative to meet my current expenses

But the key point is do you trust the government?

him

Sampat Bhansali

But the key point is do you trust the government?

We need to be able to do this, for the thought experiment to make sense

Sampat Bhansali

If we can use leverage on the future income, I would surely opt for option 1. I would seek a loan from Bank / Close relative to meet my current expenses

Pretty interesting!

nitesh

Second option is, we will have access to the sum of money tripled every month for 10 years right away?

him

Nitesh N

Second option is, we will have access to the sum of money tripled every month for 10 years right away?

Haha. Then who’d say no?

nitesh

😅 Salary here refers to all source of income for the one who would participate and also any new income source one would come up with that was not part of the mix during opting to participate?

him

Nitesh N

😅 Salary here refers to all source of income for the one who would participate and also any new income source one would come up with that was not part of the mix during opting to participate?

Why not?

ishant

Sampat Bhansali

If we can use leverage on the future income, I would surely opt for option 1. I would seek a loan from Bank / Close relative to meet my current expenses

Interesting

tejovanthn

Sampat Bhansali

If we can use leverage on the future income, I would surely opt for option 1. I would seek a loan from Bank / Close relative to meet my current expenses

Agreed.