Chat Thread: biff brings board balance

PhDeac said:

I get angry when people post nonsensical myths about money to perpetuate the idea that people who don’t have money did something wrong.

And scooter in particular has a history of purposefully misunderstanding my posts in a condescending way.

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You must be in a bad mood or something, Ph... I really don't understand how you took my comments as saying anything at all about people who don't have money- much less that people who don't have money did something wrong? I was just backing up and expanding on Turd's stats - which are accurate whether you want to believe them or not. They say nothing about people who don't have money - nothing at all. Just that the only sure way to become a millionaire is to live simply and save as much money as you can for decades. A pretty simple and obvious message.

scooter84 said:

You must be in a bad mood or something, Ph... I really don't understand how you took my comments as saying anything at all about people who don't have money- much less that people who don't have money did something wrong? I was just backing up and expanding on Turd's stats - which are accurate whether you want to believe them or not. They say nothing about people who don't have money - nothing at all. Just that the only sure way to become a millionaire is to live simply and save as much money as you can for decades. A pretty simple and obvious message.

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And you're saying that people who don't become millionaires didn't do that "sure way." You're buying into a mythos that "anybody" can become a millionaire without accounting for the wide variety of individual and structural factors that make it more difficult for some people than others. At the most basic is something like how the stock market performs in your 40s and 50s. Or the overall housing market. Think of all the people who thought they were doing the right thing found themselves underwater on their home.

What's weird is that you're really oversimplifying things while also ignoring the obvious point I made. There are more types of help than inheritance. So saying 79% of millionaires didn't get inheritance ignores a lot of other types of help they received that others may have not. Treat me with some respect and please respond directly to that point.

PhDeac said:

And you're saying that people who don't become millionaires didn't do that "sure way." You're buying into a mythos that "anybody" can become a millionaire without accounting for the wide variety of individual and structural factors that make it more difficult for some people than others. At the most basic is something like how the stock market performs in your 40s and 50s. Or the overall housing market. Think of all the people who thought they were doing the right thing found themselves underwater on their home.

What's weird is that you're really oversimplifying things while also ignoring the obvious point I made. There are more types of help than inheritance. So saying 79% of millionaires didn't get inheritance ignores a lot of other types of help they received that others may have not. Treat me with some respect and please respond directly to that point.

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Actually, I am saying absolutely nothing about what people who don't become millionaires did or didn't do. And I never said "anybody" can become a millionaire. You are inferring things that were not even on my mind. I was making a very specific and limited point - I just felt like expanding on Turd's point because I just started listening to Dave Ramsey a little over the past couple of years so I knew what he was talking about.

Nobody said that these everyday millionaires received no help at all - just that they didn't inherit their wealth, from their family or from anyone else. And of course there are millions of factors that go into everyone's story. There are millionaires who had no education and no family support and no advanced education but who worked hard and saved their money and, and, and... And there are other people who have worked just as hard but were unlucky or had bad timing or whatever, and did not have the same success. Nobody said it was easy or that "anyone" could do it. The one and only point was that, despite common perceptions to the contrary, most millionaires did not grow up wealthy and did not inherit their wealth. I don't know how that is a controversial point.

Ph, what are you doing man

Man I swear people that shit at airports really gotta shit. Sounds and smells like death anytime you walk into a bathroom. GTB I’ve found your people.

Chat Thread: biff's bulldogs blunder

PhDeac said:

LOL at “inheritance.” I’m sure way more of them were given (or provided) money and opportunities they didn’t earn. I wonder how many have ever worked for a relative.

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scooter, you said this was “misguided” as if I described something that does not exist.

PhDeac said:

Don’t be so eager to push the “blame the poors” nonsense that you miss an obvious point. You’re so condescending. I don’t know why you think you’re better than me. It’s like you can’t read the simple words I say. Instead you imagine I said something stupid.

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This is a spot on RJ impression. Congrats.

Grabs Turds Bare said:

10,000 Millionaires studied.

Top five careers engineer, accountant, teacher, management and attorney.

79% of millionaires did not receive ANY inheritance at all from their parents or other family members.

https://www.daveramsey.com/research/the-national-study-of-millionaires

Only 31% averaged $100,000 a year over the course of their career, and one-third never made six figures in any single working year of their career.

I drank the coolaid on Dave Ramsey when I was around 30. I was a millionaire before I turned 40. Zero dollars inherited (my parents are still alive, thank God!).

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That study is such trash. The “full” study is a nine page infographic that doesn’t even include their definition of millionaire.

Dave Ramsey only exists to sell books that tells you to pay for everything in cash and drive a 15 year old shit box.

I took the Dave Ramsey course at the behest of my wife at around 30. I am a teacher. I am not a millionaire. Somebody give me my million. Where you at Rj?

In all honesty, the Ramsey course is very helpful in the fact that it makes you critically analyze and prioritize your expenditures, although I’m sure that’s the point of any financial course. Our money situation got a whole lot better in the years following the course, for whatever reason.

bmoneydeac said:

Man I swear people that shit at airports really gotta shit. Sounds and smells like death anytime you walk into a bathroom. GTB I’ve found your people.

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I've had to do it. It's never good. It's either rabid whiskey shits induced by overconsumption related to killing time between flights or panicked gargantuan shits from eating as much out of town food as I can trying new restaurants.

Both paths lead to the dark side.

DistrictDeacon said:

That study is such trash. The “full” study is a nine page infographic that doesn’t even include their definition of millionaire.

Dave Ramsey only exists to sell books that tells you to pay for everything in cash and drive a 15 year old shit box.

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Bruh

bmoneydeac said:

Man I swear people that shit at airports really gotta shit. Sounds and smells like death anytime you walk into a bathroom. GTB I’ve found your people.

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This is me.

A lot of the time when I am on the road for work there is drinking and overeating due to client dinners and entertaining. And then I have to rush to the airport the next morning and my choices are to poop there or roll the dice on having to go up in the air.

Pooping on an airplane is unpleasant, at best.

for the purposes of the study and Ph's fight - are you a "millionaire" if you don't have much cash or equities but have an adequate, nice house that you paid off at age 60 a healthy state pension and a spouse' 401k?

Seemed to me like scooter and Ph were each making a ton of assumptions about both the motivations behind and the actual content of each other's arguments.

what if the millions were inside us all along

Lots of ways to become a millionaire these days. Surest path is dentistry. If you're good at it you work four days a week staring into your friends' mouths for five minutes after they get their teeth cleaned and occasionally doing a little drilling or making a mold for a night guard and making shit tons of money. If you're awful at it you get to work five days a week overbilling Medicaid patients who go to the dentist once every three years and need tons of work done. If you don't want to take out the student loans, do one of those fellowships for the military.

If dentistry isn't profitable enough for you, go into orthodontics.

ImTheCaptain said:

for the purposes of the study and Ph's fight - are you a "millionaire" if you don't have much cash or equities but have an adequate, nice house that you paid off at age 60 a healthy state pension and a spouse' 401k?

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A millionaire should be somebody with a net worth of $1000000 or more. Whatever your pensions current cash value is I would throw in there

BiffTannen said:

Lots of ways to become a millionaire these days. Surest path is dentistry. If you're good at it you work four days a week staring into your friends' mouths for five minutes after they get their teeth cleaned and occasionally doing a little drilling or making a mold for a night guard and making shit tons of money. If you're awful at it you get to work five days a week overbilling Medicaid patients who go to the dentist once every three years and need tons of work done. If you don't want to take out the student loans, do one of those fellowships for the military.

If dentistry isn't profitable enough for you, go into orthodontics.

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or just git gud at Fortnite

ChrisL68 said:

A millionaire should be somebody with a net worth of $1000000 or more. Whatever your pensions current cash value is I would throw in there

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right, I just mean you can be a "millionaire" and not appear to be wealthy.