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i am harry posted:all that time you have sitting by your snake infested lake with your wife and your cancelled cruise tickets Y’all got burtcoronatitus
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May 9, 2020 06:00
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Pick posted:where most of those households are 2 people. If there are two people with a combined net worth of a million dollars, each is referred to as a millionaire. even though a single person needs their own million to be called a millionaire. so the number of millionaire persons will be higher than 11.76, making 15% quite a conservative estimate overall. this isn't even taking into account such things as divorce. if a rich guy divorces his wife that wife then becomes rich under our laws. If that rich wife then marries and divorces another man that man becomes rich too. This is known as the transitive property. You can marry and divorce endlessly so this is a simple technique to generate potentially limitless wealth. There are 2 million marriages each year in the united states. Half of all marriages end in divorce so each year 1 million potential divorces occur. It takes two people to marry so that's two million people getting ready to divorce and generate limitless wealth each year ! finally we have to consider that we are all, as my pastor says, children of god. That guy's loaded! Once you account for the inheritance rights of the entire universe it becomes clear that even 20% would be conservative. Through simple math we see that 100% of the US populace have a net worth of at least a billion and maybe a trillion and we are only prevented from accessing our money thanks to the federal government. If you would like more info on how to access the billions of dollars you already own simply mail a letter with your bank account info, Social security number and any personal info you might use as a security question as a show of good faith to my waterfront mansion in San Francisco I bought with this method and I will mail you back the info free of charge!
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May 9, 2020 06:07
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There are a lot of families with $1M+ in net worth who aren't rich. If a family bought a home 40 years ago in somewhere like the bay area for $100k, they are now "millionaires" even if they can barely afford the property tax each month.
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May 9, 2020 06:16
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Pawn 17 posted:There are a lot of families with $1M+ in net worth who aren't rich. If a family bought a home 40 years ago in somewhere like the bay area for $100k, they are now "millionaires" even if they can barely afford the property tax each month. reverse mortgage baybee
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May 9, 2020 06:17
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Hey op, what's your side hustle? If you get a job as an Uber driver you'll stack enough paper in no time.
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May 9, 2020 06:21
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They'd give up every penny to have a moment more of health. Remember that money cannot save them should covid hit them hard, not yet. Are you young and reasonably healthy? Then you are wealthy in life even now in this wretched world.
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May 9, 2020 06:23
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Just make a deece six figgies, OP
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May 9, 2020 06:31
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Zeinin posted:How the hell are there enough jobs paying 200k+ to pay for all these 1m+ houses? Stock. RSUs, ESPP, NSOs, ISOs, etc. Worked at FB in 2012? 75k shares vesting over 4yrs at $38/share. Worth $212/share now, gain of $13m if you had the unholy foresight to hang onto every penny of it. Most people will sell it off over time and realize maybe 20% of that. Amazon was worth $220/share in 2012. It's hovering in the $2300s today. You can write these examples for just about every company in the bay. I have several friends who signed on at Tesla out of college in 2012 and own houses in the area now. None of them are struggling to pay the bills. Same with Apple, FB, MSFT, Amazon, etc. Twin $120k salaries is not an irregular household in the south bay. Combine that with a little "right place, right time" luck, and the numbers begin to work. You pay for a $2m house on a $180k software engineer's salary by getting lucky, working at the right place at the right time, hitting a $500k IPO equity event, and depositing it all into a 3b2ba 1200sq.ft house 10min from work so you can comfortably spend the rest of your working life making that $180-200k without worry about the housing market again. That $500k is 30% down on a ~1.6m house, the $1.1m 30yr at 3.xx% + property taxes costs you $5700/mo, but if you are married on a $180k salary less $40k in state/federal (head of household) and $19k/yr to a 401k leaves you with $10k a month take-home. $4300/mo is tight, but it's enough money to do everything else if you aren't stupid with it (wife and I live here, combined salaries exceed that number, we spend less than that after housing). You're pinched for the first few years of ownership, and then you get a raise, and everything becomes more comfortable again. After 30yrs you have a paid-off house and a 401K worth $1.5m+ to retire from. Stick around and live "frugally", or sell your nestegg, move anywhere in the country/world, and live like kings. Might be too serious of an answer for GBS, but that's how it's done. I've lived here all my life, prices have been "crazy" as long as I can remember.
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May 9, 2020 06:36
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Careful,on your replies gbs...
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May 9, 2020 06:47
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Savington posted:Details Thanks for the post.
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May 9, 2020 06:50
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poor joke, edited in fear of moderation
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May 9, 2020 07:21
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Savington posted:Stock. This only works for the tiny handful that can afford and have the discipline to be patient. Most folks dabbling in trading will buy low, then see it increase a slight amount and immediately sell, just to make any profit. And honestly they're not wrong many times, but there are those exceptions that make everyone feel like fools. E - I dont know what the mod warning is about but I never dabble in random stocks just like I never dabble on gambling because they're one and the same
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May 9, 2020 07:35
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Lmao at having enough disposable money to gamble on stonks
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May 9, 2020 07:41
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Supreme Allah posted:This only works for the tiny handful that can afford and have the discipline to be patient. Most folks dabbling in trading will buy low, then see it increase a slight amount and immediately sell, just to make any profit. And honestly they're not wrong many times, but there are those exceptions that make everyone feel like fools. Not trading stock - being granted equity as a form of compensation for tech companies. If you join some startup or early in a tech company, they often give stock grants instead of cash to keep people from jumping to the next hot thing. Then, assuming they don’t implode and you picked a unicorn, that initial grant can grow a huge amount like the examples of Amazon and Facebook. Most of these deals are also structured so you get it over 4-5 years, so you’re forced to let it ride.
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May 9, 2020 08:02
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Because they first bought property in Texas and are renting it out to make enough to live in the Bay. Hope that helps, OP.
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May 9, 2020 08:14
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They're rich, op Or they're almost rich and also in debt
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May 9, 2020 08:17
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my new goal in life is to accumulate a million dollars in debt
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May 9, 2020 09:08
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numberoneposter posted:my new goal in life is to accumulate a million dollars in debt You now owe me 1 million dollars. Mission accomplished.
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May 9, 2020 09:18
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BIG FLUFFY DOG posted:You now owe me 1 million dollars. Mission accomplished. 
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May 9, 2020 09:46
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houses are nice
Synthetic Dreams fucked around with this message at 12:45 on May 9, 2020 |
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May 9, 2020 09:58
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numberoneposter posted:well you owe me a 1 million dollars in "services" and you aint getting paid till the job is done That’s 20 million 5 cent handjobs 
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May 9, 2020 10:01
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Pick posted:where most of those households are 2 people. If there are two people with a combined net worth of a million dollars, each is referred to as a millionaire. even though a single person needs their own million to be called a millionaire. so the number of millionaire persons will be higher than 11.76, making 15% quite a conservative estimate overall. Most of the 88.24% of households with less than a million bucks also contain 2 or more people.
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May 9, 2020 10:09
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Gotta buy a lotto ticket, aka investing thousands of dollars on individual stocks.
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May 9, 2020 10:25
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Rad-daddio posted:All about that paper. Also a literal poo poo hole because it is covered with humsn feces
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May 9, 2020 12:15
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Zeinin posted:I am taking a walk around my neighborhood (A suburb in the Bay Area, USA), and I am looking at all these dang houses. Pretty much anyone of these houses starts at $1m. You will walk by someone who has a house and like, a recent Porsche. And the math just isn't working out for me. This only makes sense if people are up to their eyeballs in debt, or make 500k+ a year. I know the payscales at big tech companies, and, sure, maybe with options, you clear 500k, but cash kind of peters out at 300k. And I don't think everyone in my zone works at Google. My wife says the same thing and I always respond, "they didn't buy it, honey, they rented their whole lives from the bank". Hope this helps you understand the endless lust for materials, op.
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May 9, 2020 12:26
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pop fly to McGillicutty posted:My wife says the same thing and I always respond, "they didn't buy it, honey, they rented their whole lives from the bank". But why is this bad? It sounds like they have everything they esnt snd you don't
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May 9, 2020 12:29
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Bitcoin
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May 9, 2020 12:30
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Zeinin posted:I am taking a walk around my neighborhood (A suburb in the Bay Area, USA)... nice humblebrag, OP. my guess is by microdosing acid and learning a little bit of python
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May 9, 2020 16:18
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I wish I were a millionaire. Instead I'm a hundredaire.
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May 9, 2020 16:35
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In my wallet right now I have the equivalent of 9000 pennies. I’m a thousand air
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May 9, 2020 16:38
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10 nuggets $1
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May 9, 2020 17:19
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Off the backs of labor by chumps
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May 9, 2020 17:27
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It used to be possible to buy a detached home before millennials screwed the pooch. Boomers are the last gasp of the american left and the american middle class. You hate to see it because it makes SA posters big mad but yeah, once boomers are gone so is the american left and the american middle class. Thats how they could afford houses OP, by having regular jobs and demanding to be paid fairly for them, a thing which millennials don't do and never will.
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May 9, 2020 17:30
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nvm
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May 9, 2020 17:31
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guitartorch posted:It used to be possible to buy a detached home before millennials screwed the pooch. Boomers are the last gasp of the american left and the american middle class. You hate to see it because it makes SA posters big mad but yeah, once boomers are gone so is the american left and the american middle class. Thats how they could afford houses OP, by having regular jobs and demanding to be paid fairly for them, a thing which millennials don't do and never will. This is a really moronic take, how can you write this and not realize it's super stupid.
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May 9, 2020 17:34
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Those drat millennials not doing regular jobs or getting payed. What will they think of next? Fruit on toast!?! Weak babies the lot of them.
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May 9, 2020 17:36
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the truth aint an easy slice of pie . That I can tell you.
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May 9, 2020 17:42
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We rent our house out to a porn studio on the weekends, OP. It really helps out with the mortgage.
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May 9, 2020 18:01
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guitartorch posted:the truth aint an easy slice of pie . That I can tell you.
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May 9, 2020 18:03
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Here’s how I did it op. I joined a company and was granted a pile of stock options. They were worth nothing for a long time. But I worked there for several years and as the company grew so did my options, as did the additional shares I picked up in subsequent grants. When I bought a house, I could liquidate shares to pay the mortgage. I hope this helps
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May 9, 2020 18:12
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