Would you take £1m now, or £1,000 a week for the rest of your life? By Hannah Jane Parkinson, The Guardian March 29, 2018 at 6:00 am It’s a nice dilemma to have, and quietly devastating for the rest of us who will probably never have to face such a conundrum. A Canadian teenager who won the lottery, after buying her first ever ticket to celebrate her 18th birthday, was given a choice: take home an instant C$1m, which works out at around £550,000; or receive C$1,000 (£550) a week for the rest of her life. It’s hardly Sophie’s choice. After consulting a financial adviser, Charlie Lagarde chose the latter option. The adviser pointed out that as the allowance came untaxed, it was roughly equivalent to an annual salary of C$100,000. The Canadian economy is pretty stable, which also works in Lagarde’s favour, and the cost of living there is relatively cheap. As for pesky inflation eating away at that annual C$1,000, it’s estimated that Lagarde only has to live about 30 more years to reach $1m winnings in real terms. Last winter Canada announced it would pilot universal basic income – the idea that instead of welfare payments, all citizens, regardless of their income or assets, receive a baseline income from the state. In a way, Lagarde has scored a form of basic income from the lottery corporation, and a sizeable one at that (incidentally, Lagarde lives in Quebec, the province piloting UBI).