Ken Jennings can't lose on Jeopardy!!

[jefhatfield]

Why do I always have to correct other people bad maths? First of all, to have 1M$, you have to take into account the taxes but let say we forget them and ask ourself: "how much money does 1M$ in 30 years (life time) represent?".

If you take into account the mean S&P average of the 50 last years, which is around 14% if I remember right, 1M$ would represent about 22000$ today. Take a more conservative number, like 7% and it goes up to 140k$.

This is why governement fight inflation so much!

My guess is that he is going to make much more money selling books than what he is going to win on the show...

i was just using that as an example...ken jennings has done well in a very, very short period of time by just answering trivia

in the book a millionaire next door, i learned that there is a big difference between paper millionaires and people who can actually cash out, pay their taxes, and still have a million...three quarters of paper millionaires are not that after taxes, fees, etc..

many say that a million is not a lot of money these days, but how many of those people have a million dollars, and how many have a million dollars after taxes?

it's fun to look at what inflation can do to things...but what is also interesting is how some things, computers for example, have increased their horsepower and value to consumer, and yet goes down in price every year

i had a boss at dod when i was a grad business-student/coop/intern there (in other words, not real employee...he he) and he was a computer genius (an arpanet founder) but said his 50k a year for 20 years would be a million

but as it stands, yes there are taxes, and he didn't start out as a gs-15 making 50k when he first entered dod as a grad student coop himself

yes, he makes good money, for the government, and i am sure his salary now is in the 60+k range but he still lives in the ghetto

 

[slowtreme]

duped

 

[Dros]

Why do I always have to correct other people bad maths?

Maybe because his math wasn't bad? He was merely comparing getting a million dollars over 30 years to a few weeks. Your analysis below is 'correcting' a problem he never meant to pose.

First of all, to have 1M$, you have to take into account the taxes but let say we forget them and ask ourself: "how much money does 1M$ in 30 years (life time) represent?".

If you take into account the mean S&P average of the 50 last years, which is around 14% if I remember right, 1M$ would represent about 22000$ today.

I think you mean $22000 50 years ago would be worth $1M today, not the other way around. But your analysis is interesting. If a person got $30,000 a year and invested it, that would be worth more than getting $1M today. But if you get $30,000 a year, I think the pressure would be to slightly upgrade your lifestyle and not invest it all, so that after 30 years you'll have driven 5 nicer cars, bought and probably paid off a nicer house, and put a little away. If you get a million, there would also be pressure to blow it on a nice house and car. So it would probably put you in the same place either way.

 

[slowtreme]

I’ve watched Jeopardy for years and never have I seen such anemic, lack-luster competition – it’s like they are pitting Ken against dumb people just so he can win. I have never witnessed such a long string of sub-par contestants in my life. Bring back some of the old champions

I agree... I don't know how smart Ken is, or how well he retains knowledge, but these other people on the show are not clicking the button, period. I know you've all seen the episodes where someone knows the info and is trying so hard to answer but thier timing is off, they start getting frustrated holding the clicker up high so everyone can see they are frantically trying to answer a question. It's things like that, they are just not happening while Ken in the game.

While it's clear Ken is answering the questions and earning his spot on TV each day, it just seems there are very few prepared challengers.

 

[Mantat]

I think you mean $22000 50 years ago would be worth $1M today, not the other way around. But your analysis is interesting. If a person got $30,000 a year and invested it, that would be worth more than getting $1M today. But if you get $30,000 a year, I think the pressure would be to slightly upgrade your lifestyle and not invest it all, so that after 30 years you'll have driven 5 nicer cars, bought and probably paid off a nicer house, and put a little away. If you get a million, there would also be pressure to blow it on a nice house and car. So it would probably put you in the same place either way.

Actually, I meant exactly what I said, I just phrased it badly... 22k now = 1M$ in 30 years ;-)

And yes, you are correct by saying that one would first improve his lifestyle. I be able to save 30k$ a year, one has to earn about 200k$/year and not having an expensive life style (big car, over priced house, etc) which is very hard to do.

My point was just to say that its important to save money now for the future. Personnaly, I save about 20% of my gross revenu but its going to change very soon with the joy or morgage and my first condo :-S. Right now, people are spending way too much money IMHO, I see people buying plasma tv way too often and I cant believe they all earn that much more than me...

 

[jefhatfield]

Actually, I meant exactly what I said, I just phrased it badly... 22k now = 1M$ in 30 years ;-)

And yes, you are correct by saying that one would first improve his lifestyle. I be able to save 30k$ a year, one has to earn about 200k$/year and not having an expensive life style (big car, over priced house, etc) which is very hard to do.

My point was just to say that its important to save money now for the future. Personnaly, I save about 20% of my gross revenu but its going to change very soon with the joy or morgage and my first condo :-S. Right now, people are spending way too much money IMHO, I see people buying plasma tv way too often and I cant believe they all earn that much more than me...

congrats on your condo

i have never seen the need for a plasma tv

 

[~Shard~]

I agree... I don't know how smart Ken is, or how well he retains knowledge, but these other people on the show are not clicking the button, period. I know you've all seen the episodes where someone knows the info and is trying so hard to answer but thier timing is off, they start getting frustrated holding the clicker up high so everyone can see they are frantically trying to answer a question. It's things like that, they are just not happening while Ken in the game.

While it's clear Ken is answering the questions and earning his spot on TV each day, it just seems there are very few prepared challengers.

Glad to see I’m not alone in my theory! Like I said, in all my years of watching Jeopardy, I have never seen this happen where the competition has been so poor. Even when there was the 5-day limit for champions, even within those 5 days there was always better competition and the matches were closer – not Ken Jennings with a $16,000 to $3,000 to -$600 lead going into Double Jeopardy... This spectacle and all the attention it is getting is making me not want to watch Jeopardy anymore, instead of wanting to watch it more...

 

[obeygiant]

conspiracy

Yes, this is a plot by the evil Jeopardy wizards to attract attention to the show then brainwash people. Ken is actually a robot programed to read Alex's mind and the other contestants are drugged with LSD and Prozac so its too difficult to answer the questions. When the Wizards of Jeopardy actually collect enough brains they will contact their mothership and turn every one into Ken-Clones.

It's so obvious isn't it?

 

[obeygiant]

if i won a million, i would,

1) pay off house which was last professionally assessed to be worth 360k or so
2) give money to relatives and friends
3) give money to charity (fraternal order of police, jews for jesus, breast cancer research, AIDS research, naacp, kerry-edwards campaign, spca, and yes...macrumors)

as for fancy cars and bling bling, that stuff is for suckers

actually that would be my plan if i won two million, five million, or a billion

scratch number two, and build a space elevator.

 

[Mantat]

scratch number two, and build a space elevator.

Space elevator is SO going to be the invention that will change the world...

To people who think that I am kiding: Click here

 

[Doctor Q]

congrats on your condo

i have never seen the need for a plasma tv

They are necessary for a very important reason: to impress your friends and out-do your neighbors.

 

[jywv8]

They are necessary for a very important reason: to impress your friends and out-do your neighbors.

Uh, I have a plasma TV, and I didn't buy it to impress my friends or out-do my neighbors. I bought it because I watch a lot of TV, rent a lot of movies, and my crappy old 19-in bit the dust. Some people buy expensive cars/clothes/furniture, or go out to eat a lot, or pay $40 for a hair cut. I buy really nice electronics. To each his own.

 

[obeygiant]

Space elevator is SO going to be the invention that will change the world...

To people who think that I am kiding: Click here

Alex Trebek: The invention that had the most impact on society by moving us into the space age affording inexpensive space travel and zero-g manufacturing.

Ken Jennings: What is The Space Elevator?

Alex: Correct for 2000

 

[Doctor Q]

Uh, I have a plasma TV, and I didn't buy it to impress my friends or out-do my neighbors. I bought it because I watch a lot of TV, rent a lot of movies, and my crappy old 19-in bit the dust. Some people buy expensive cars/clothes/furniture, or go out to eat a lot, or pay $40 for a hair cut. I buy really nice electronics. To each his own.

OK, you called me on my bad joke. I didn't mean to imply that there's anything wrong with wanting or buying a plasma TV, only the claim that anybody might need one. I'd like to have one myself... someday.

 

[JSRockit]

$1,000,000 is not that much money...not enough to give to charity. Retirement, as someone pointed out, will require alot more than 1 million. Charity just to give money away to look good in the eyes of others is not that good IMHO. However, if you truly believe in the cause, then by all means...you should donate anything you can. If I won $1,000,000, I would not give anything away...unless family members needed something. It just isn't alot of money in the true scope of things. Also, the charity that you will be giving alot that money to is the US Govt. That $1,000,000 isn't looking as cool as it once did. Sure, I still wouldn't mind having it...it will make you comfortable.

 

[jefhatfield]

$1,000,000 is not that much money...not enough to give to charity. Retirement, as someone pointed out, will require alot more than 1 million. Charity just to give money away to look good in the eyes of others is not that good IMHO. However, if you truly believe in the cause, then by all means...you should donate anything you can. If I won $1,000,000, I would not give anything away...unless family members needed something. It just isn't alot of money in the true scope of things. Also, the charity that you will be giving alot that money to is the US Govt. That $1,000,000 isn't looking as cool as it once did. Sure, I still wouldn't mind having it...it will make you comfortable.

compared to the average world citizen's yearly take or lifetime take, a mil is a lot of money

...so maybe not so much in america as it was in 1900...ok...but i certainly would not mind since that amount is a whole bunch to me...i can buy my house i am living in and still have 2/3rds left...believe me, after relatives and friends, i can find a charity

of course, my wife and i are extremely humble in our lifestyle and it would shock many people and i don't see a need for a bentley or rolex watches...i live just blocks from a saks fifth avenue store and it just doesn't do it for me

to me, a 600 dollar tag heuer watch is just as cool and impressive as a rolex worth ten times that...and i do admit a movado in the six bill range is a very nice thing to look at so i guess i would be ok unless i bought caseloads of movados

 

[JSRockit]

compared to the average world citizen's yearly take or lifetime take, a mil is a lot of money

...so maybe not so much in america as it was in 1900...ok...but i certainly would not mind since that amount is a whole bunch to me...i can buy my house i am living in and still have 2/3rds left...believe me, after relatives and friends, i can find a charity

of course, my wife and i are extremely humble in our lifestyle and it would shock many people and i don't see a need for a bentley or rolex watches...i live just blocks from a saks fifth avenue store and it just doesn't do it for me

to me, a 600 dollar tag heuer watch is just as cool and impressive as a rolex worth ten times that...and i do admit a movado in the six bill range is a very nice thing to look at so i guess i would be ok unless i bought caseloads of movados

I have nothing really worth mentioning but two powerbooks. I rent, I have a 4 digit bank account, and no car. My point is that one mil is alot when you are in our position...but it isn't crazy money. You still have to be smart with 1,000,000...or it will be gone before you know it.

 

[~Shard~]

$1,000,000 is not that much money...not enough to give to charity. Retirement, as someone pointed out, will require alot more than 1 million. Charity just to give money away to look good in the eyes of others is not that good IMHO. However, if you truly believe in the cause, then by all means...you should donate anything you can. If I won $1,000,000, I would not give anything away...unless family members needed something. It just isn't alot of money in the true scope of things. Also, the charity that you will be giving alot that money to is the US Govt. That $1,000,000 isn't looking as cool as it once did. Sure, I still wouldn't mind having it...it will make you comfortable.

Actually, make that $500,000 - Ken Jennings ain't walking out of the Jeopardy studio without the IRS man taking half of his winnings away thanks to US tax laws.

 

[obeygiant]

Actually, make that $500,000 - Ken Jennings ain't walking out of the Jeopardy studio without the IRS man taking half of his winnings away thanks to US tax laws.

the real question is what amount will he give to the mormon church.
He has to give 10%. So will it 10% of a million or 10% after taxes.

 

[jefhatfield]

I have nothing really worth mentioning but two powerbooks. I rent, I have a 4 digit bank account, and no car. My point is that one mil is alot when you are in our position...but it isn't crazy money. You still have to be smart with 1,000,000...or it will be gone before you know it.

agreed

some people, in some areas, get by only on social security and live an accordingly humble life

imagine living that humbly but having investments play several times social security every month...you can do it but it won't make you live like a king but the investments/interests can keep on giving

...as long as you don't decide to raid the principle (which will grow) and spend it all on frivolous stuff which is what many people would do

my humble lifestyle is just my personality more than it is by necessity or being cheap...i don't have the handicap of having expensive taste

 

[Freg3000]

Ken certainly cut it close tonight-at least close in his terms. He still made it mathematically impossible for anyone to catch him in Final Jeopardy, but it took him to answer the last clue in Jeopardy to push him over 2x his competitor.

And he didn't even crack 20,000 tonight! Shame, shame!.

 

[Doctor Q]

Note: See also this thread about Ken's winnings as of yesterday: Jeopardy! Winner has over $1,000,000.

 

[Awimoway]

the real question is what amount will he give to the mormon church.
He has to give 10%. So will it 10% of a million or 10% after taxes.

The Church doesn't ask. They just tell you to pay your conscience. I'm sure some people pay tithing after taxes. Personally, I can't justify paying after, but to each their own.

At any rate, as a fellow BYU English grad, I must say that I'm damn proud of him. I don't really watch Jeopardy! much because I too easily make an ass of myself, muttering answers and feeling embarrassed when I get them wrong (and I work when it's on, so that makes it harder), but I wish him all the best.

My wife called me at work the other night excited to tell me that she realized that a good friend of hers at college was his brother. She's not 100% sure, but the Nathan Jennings she knew also lived in Korea during part of his childhood, and she sees a resemblance, so it's a decent bet he's kin. I didn't really know Nathan, but I think I met him once, and if he wasn't a Mac user, he should have been. He had that vibe. But Ken doesn't, so I'm going to guess Winblows for him. Brothers can be very different, after all.

 

[Doctor Q]

I watched a few shows earlier in the streak, and I think I'll watch the show tonite since I have a friend coming over who I know likes the show. Of course, by the time of the broadcast here on the west coast, I always hear the outcome ahead of time. But I knew the Titanic sank before I saw the movie, and that didn't seem to matter either. And if Ken ever loses (assuming we didn't all die from old age before then), I'll know to watch that episode that night!

 

[Docrjm]

There is life

Beyond jeopardy.
But, for those of you who need this sedative, he will lose eventually.