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Chat Thread: biff brings board balance

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ImTheCaptain said:
fairly specific fantasy
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I was born in a trailer in West Virginia. I'm overly sensitive to the white-trash dynamic.

JuiceCrewAllStar said:
"she looks like her husband beats so much that it makes me want to punch her in the face!"
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Hitting girls (or anyone for that matter) is bad. But "punchable" is an adjective that you should understand. You probably get that feeling when you see this guy:

E37B2E9F_E603_447B_9D76_95117257BC06.0.jpeg


It's like a fucking innate quality some people have.
 
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I feel like "she has a punchable face" didn't really need the domestic abuse and Stockholm syndrome addenda
 
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PhDeac said:
The point in hand is what you stated: "The whole point of the survey was that most of these every-day millionaires earned everything they had - not all of them, clearly, but most."

I mentioned examples of wealth transfer and advantage that were not included in the survey. You seem to be saying that anything the survey doesn't ask about did not exist. (I didn't say it didn't exist. The survey doesn't cover every single factor. I think you need to listen to Ramsey a bit to understand these people and his point. He often interviews these types of millionaires, where you can learn more details about how they got where they are)

"The survey specifically said they did not inherit their money from relatives or anyone else - so I don't know what other money they could have been given that they "didn't earn"?"

Inheritance is one specific type of wealth transfer. In this case, the survey asked if they specifically inherited money from relatives or anyone else. That doesn't include wealth their parents inherited. (What? Why would it matter if their parents inherited something if it hadn't passed on to them?) It doesn't include parents paying for college instead of having to pay themselves. It doesn't include gifts from parents. It doesn't include low or no interest personal loans. It doesn't include any number of wealth transfers we know exist. (You are right - I am sure the survey does not include every possible way that someone could have been given something. No shit.)

Even if you look at the stat, that 79% includes people whose parents and maybe even grandparents are still alive. So the percentage of millionaires who inherited wealth among whose close relatives have passed away is surely higher than 21%. It's a very misleading statistic.

"How does someone earn an opportunity other than by working hard and probably getting a little lucky?"

Plenty of ways. People get opportunities based on their connections. "It's all about who you know" and "A little luck goes a long way." We have idioms in our culture that directly address unearned opportunity.

Someone can become a millionaire by parking their money in the right place. Someone can become a millionaire by taking advantage of favorable market conditions and/or government policy and buying a house and starting an IRA at the right time. Someone who worked just as hard or harder in a different economy would not be as likely to gain the same amount of wealth. (Yep. I made this same point)
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Ph, you clearly have an agenda - and while you seem to think I do as well, I really don't... The survey is not the be-all end-all and doesn't cover every factor that goes into someone's success. The stories you get from the interviews he does are more complete and interesting.

His message is not for everyone - live simply (drive old cars, pay cash, don't use debt for anything, don't eat out, etc. etc.), save, invest, be consistent. I don't agree with a lot of the details he teaches and certainly don't live the way he would advise - but the message of spend less, save more is hard to argue with.

And that is all that I was talking about - nothing about hidden advantages, privilege, sneaky wealth transfer, or the lack thereof, or whatever.
 
While we're talking about it, that kid has a fuckin' punchable face. Millionaire-inheritance-rich-kid punchable. Back me up here, PH
 
this Ph-scooter thing is not Compelling Content

it's like watching SEC defenders and Big 10 defenders discuss conference superiority on the football thread

please take it to PM
 
As a side discussion, what obligations towards inheritance to parents have towards their kids? My folks worked their asses off for 30 years, paid for undergrad degrees for their three kids so we wouldn't have student debt, and then retired, and have now made it their stated intention to blow through all possible inheritance save for their house through traveling and enjoying the hell out of themselves in their twilight years, which makes me very happy. As my two little ones are pretty young, it does make me wonder what my outlook on what I leave behind will be as I get older though. Thoughts on the responsibilities of passing down wealth?
 
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mako1331 said:
As a side discussion, what obligations towards inheritance to parents have towards their kids. My folks their asses off for 30 years, paid for undergrad degrees for their three kids so we wouldn't have student debt, and then retired, and have now made it their stated intention to blow through all possible inheritance save for their house through traveling and enjoying the hell out of themselves in their twilight years, which makes me very happy. As my two little ones are pretty young, it does make me wonder what my outlook on what I leave behind will be as I get older though. Thoughts on the responsibilities of passing down wealth?
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My dad recently passed and it is a bit strange going from negative net worth to a positive net worth which is sort of life changing. Just a big thing I used to stress about that is no longer there. So I'd save enough to hand down to your kids in the event they turn out to be dumbasses like me.

Also, don't go 20 years without filing a tax return before you die.
 
Also, is Meghan McCain hot, or do I have really odd taste?
 
palmab03 said:
My dad recently passed and it is a bit strange going from negative net worth to a positive net worth which is sort of life changing. Just a big thing I used to stress about that is no longer there. So I'd save enough to hand down to your kids in the event they turn out to be dumbasses like me.

Also, don't go 20 years without filing a tax return before you die.
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My brother married into a family with a net worth approaching the low 9 figures. It's going to be insane how much his life is going to change one day.
 
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