Inheritance or Lottery?

Would You Rather: $1,000 a Week for Life or $1 Million Today?

This was the question on a recent podcast episode from The Compound and Friends (one of Michael's favourites. Would you rather have $1,000 a week for life or $1 million today?

Now, before you mentally start calculating how many lattes or golf trips that covers, let’s zoom out. This isn’t just about numbers—it’s about timing, behavior, and legacy. Because depending on where you are in life, your answer might be very different. And 10 years from now? You might choose the opposite.

That’s the beauty—and challenge—of personal finance. It’s personal.

The Inheritance Lottery: Jackpot or Caution Sign?

Imagine this decision in a different way... for your heirs. Many people spend their lives building wealth, only to unintentionally turn it into a lottery win for their kids or grandkids—complete with the usual outcome: fast money, faster mistakes.

Why? Because we often focus on what we’re leaving behind, not who we’re leaving it to or how we give it.

Have you talked to your family about what money means to them? About stewardship, values, and long-term thinking? Without those conversations, even the most carefully constructed estate plan can unravel in a single generation. Behavioral finance tells us that without context, big windfalls feel like play money. And we all know someone who could burn through a million in record time—possibly while still living in your guest room.

The Right Answer (For Right Now)

Here’s the kicker: There’s no universally right answer. Only the right answer for you, right now.

Our priorities shift over time. The 35-year-old version of you? Different mindset, different fears, different goals. So don’t feel locked into a decision you made a decade ago. Financial planning should evolve with your life—not just your portfolio.

So whether you’re thinking about what you’d do with a million, or what someone else might do with yours… let’s talk about it. And if you haven’t had “the money talk” with your heirs yet—there’s no time like the present.

“Wealth consists not in having great possessions, but in having few wants.” — Epictetus