Imagine you are 60 years old, have an average life expectancy (83.2 years for men and 85.7 years for women), ignore the tax implications, and now choose which would you rather have:
1) $1,000,000 deposited in your bank today, or
2) $5,000 deposited every month in your bank for the rest of your life, guaranteed.
Your choice reveals a great deal about your attitudes towards money in general, and your ability and willingness to take risks. This has relevant implications for saving, spending, and investing. Take a few minutes and reflect on that.