Young and rich - Page 5 - Chevelle Tech
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post #61 of 87 (permalink) Old May 15th, 19, 4:52 PM
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Jonathan
 
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Re: Young and rich

Being a Gen-X I blame it on the Boomers

Lets go back to many of the kids upbringings. Parents had to have birthday party competitions. Parents had to have nicest yards, new cars, nice house, taking huge vacations, best colleges and then the kids are on their own and want a 100K job out of the gate. They want to keep up their lifestyles, keep up with friends, have best cell phone, nice car... you get the picture.

As for YouTubers, that is all we really watch now, except for Hulu, awesome shows out there. I never watch over the air TV and we don't have cable or satellite.

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post #62 of 87 (permalink) Old May 15th, 19, 6:31 PM
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Re: Young and rich

You don't get rich buy making 1000 a week or 25,000 for an occasional appearance (I doubt any bar would pay this I have owned a few bars) you do it by making 45,000 to 60,000 a week x 6 or even 8.

There is nothing wrong with cheap money the problem is everyone uses it to buy what you want instead of putting it to use so it will pay for itself.

I spent 20 years in a shipyard machine shop and in that time I bought repossessed houses fixed them up and either sold them or rented them, today my property tax runs around $250,000 a year.

This is the best country to make it rich if you only apply yourself.
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post #63 of 87 (permalink) Old May 15th, 19, 6:57 PM
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Re: Young and rich

I always find it interesting how you will hear so many success stories about hard work and being smart.

Then it's very easy to spot the vast majority of unsuccessful people that their own actions and mentality are the reason why they can't get ahead.

But you never hear people talk about the fortunate stories. "I inherited a ton of money. I won the lottery (not very likely, as its usually losers that win), my parents gave me this and that. I took over the family business. I run a wheat farm that my family has owned for 4 generations. My dad invested in Google in 1997 and I cashed his stock out when he died"

Anyone that works hard and makes good decisions deserves their wealth, even if it started with a huge hand out. But I will always have much more respect for those that had nothing and managed to make it. I don't mean become wealthy necessarily, but to live comfortable.

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post #64 of 87 (permalink) Old May 15th, 19, 7:55 PM
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Re: Young and rich

My older brother bought a new ‘65 Malibu SS when I was a senior. 300 hp 327, 4 speed, posi trac rear, no air, no power steering, no power brakes. Black on black with buckets.

He got drafted and I took up the payments. I got drafted in ‘68 and I sold it for $750 to my ex girlfriends brother.

It was not an expensive car. It ran pretty darned good.

I was just out of school, had a job, and did not live with my parents, although I worked at our Shop.

What’s different now. Well, the cars cost more, mainly because what I had was a bare bones hot rod. Today’s “Hot Rods” have every option available.
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post #65 of 87 (permalink) Old May 15th, 19, 9:06 PM
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Re: Young and rich


"A Nation of Sheep will beget a Government of Wolves." Edward R. Murrow
“The last official act of any government is to loot the treasury.” – George Washington
http://s146.photobucket.com/albums/r241/gregs_photo/
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post #66 of 87 (permalink) Old May 15th, 19, 9:17 PM
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Re: Young and rich

Our credit union has special savings account for people 14-28(?) that pays 5%(!) Interest. I explained couponding to my kids. Only 1 of them really seemed to care. He is the only one that is motivated by money. The oldest and youngest don't much care

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post #67 of 87 (permalink) Old May 15th, 19, 10:06 PM
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Re: Young and rich

Quote:
Originally Posted by jpete View Post
Our credit union has special savings account for people 14-28(?) that pays 5%(!) Interest. I explained couponding to my kids. Only 1 of them really seemed to care. He is the only one that is motivated by money. The oldest and youngest don't much care

The compounding I am talking about is when you buy a property and the rent pays it off then you use that income to buy another then use both to pay it off again.
Once you reach 4 of these properties you are on your way.
When I was a teenager my cousin a pipe fitter had 25 homes in Baton Rouge, he is the person I modeled from.


At some point I converted to commercial properties.
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"A Nation of Sheep will beget a Government of Wolves." Edward R. Murrow
“The last official act of any government is to loot the treasury.” – George Washington
http://s146.photobucket.com/albums/r241/gregs_photo/
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post #68 of 87 (permalink) Old May 16th, 19, 7:42 AM
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Re: Young and rich

I have a rare form of Asthma that's the worst kind! If I could go on disability I would but I don't qualify even though I have paid into it since I was 16 years old.
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post #69 of 87 (permalink) Old May 16th, 19, 12:15 PM
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Re: Young and rich

Noy jus them. GF has the same entitlement disease. Noone has enough for her, noones good enoguh
Wants what everyone else has....Daddy lef her 200k cash and a 300k house all she does is complain its not enoguh. Whines about having to help him.
Some people have never had it rough and appreicate nothing. Siblings are like that ...borrowing money sticking knives in eachotehrs back for an inheritance. even made a silent deal to steal mine just found out.
FOr money....paper. No integrity at all GO WORK, try it sometime.
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Quote:
This post is a duplicate of a post that you have posted in the last five minutes.
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post #70 of 87 (permalink) Old May 16th, 19, 12:40 PM
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Re: Young and rich

Dude, there was a reason this old interrogator preferred chics who drive Cavaliers to those who drive Lexus'. Its called relative deprivation when someone else tries to take over as daddy. My nitemare was some sort of entitled suburban chic ( my first wife made me live that dream - prior to me wearing a uniform).

Another tidbit... there can be NO DOUBT IN YOUR MIND as you approach that altar. If there is, I've found, it only gets BIGGER over time. (Sort of like the way I feel about President Trump.) So, fwiw, your GF may be permanently damaged goods; maybe time to find a nice CA country gal up in Modesto, or across the border in AZ, unless you dig on all that drama and insecurity.

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post #71 of 87 (permalink) Old May 16th, 19, 1:10 PM
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Re: Young and rich

Quote:
Originally Posted by 427L88 View Post
Dude, there was a reason this old interrogator preferred chics who drive Cavaliers to those who drive Lexus'. Its called relative deprivation when someone else tries to take over as daddy. My nitemare was some sort of entitled suburban chic ( my first wife made me live that dream - prior to me wearing a uniform).

Another tidbit... there can be NO DOUBT IN YOUR MIND as you approach that altar. If there is, I've found, it only gets BIGGER over time. (Sort of like the way I feel about President Trump.) So, fwiw, your GF may be permanently damaged goods; maybe time to find a nice CA country gal up in Modesto, or across the border in AZ, unless you dig on all that drama and insecurity.

You need to go further north.. Modesto is a $hithole full of ghetto trash..
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post #72 of 87 (permalink) Old May 16th, 19, 1:41 PM
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Re: Young and rich

The worst are lawyers, there's one behind every rock.
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"A Nation of Sheep will beget a Government of Wolves." Edward R. Murrow
“The last official act of any government is to loot the treasury.” – George Washington
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post #73 of 87 (permalink) Old May 16th, 19, 2:17 PM
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Re: Young and rich

I was there in 1985, Monterey actually, courtesy of Uncle Sam. Modesto seemed like upstate NY, sort of rural, and NOTHING like southern California.

Greg, I married a DIVORCE ATTORNEY........ I dig juggling a hand grenade with the pin pulled.

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post #74 of 87 (permalink) Old May 16th, 19, 9:22 PM Thread Starter
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This really took off!

I still don’t know...maybe some of it is based on geographic location. The average salary in my county is $31k/yr. We’re the 4th largest county in the whole state! Maybe that’s why $60,000 cars seem like such a crazy expense. Run-of-the-mill new houses are $200k here. Somebody was talking about all the millionaires in their town. I just don’t see them. Around here if you work on Post you’re making big money at $80-100k/yr. I make more than anyone in my immediate family and it’s still hard to fathom how some of these kids are making what they do.

YouTube is great and all but it’s really friggin dangerous for a lot of small children. I’ve been a teacher for a decade and it’s night and day between kids then and now. Their attention spans are awful because they sit on those screens and it’s just BLAM BLAM BLAM COLORS COLORS NOISE NOISE every 6 seconds. We’re juuuuust now seeing some parents starting to realize “hey, maybe this isn’t good on a developing mind...”
I think making money on Youtube is a lot like professional sports. They’re are tens of thousands that want to be in the big leagues, but only a few actually make the big payday. I know some people that post videos on there and they haven’t taken off. It’s hard to do. But for those that do take off... More power to them I guess. They figured it out.

I wish I could have $10,000 fall in my lap hahaha. I read that if you put $10,000 in an S&P index fund in 1978 and didn’t touch it, it would be $780,000 today. How’s that for compounding?!
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post #75 of 87 (permalink) Old May 17th, 19, 12:01 AM
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Re: Young and rich

Super Dave wrote: "Having spent 30 years working at high line car dealerships in the service end, you have no idea just how many people have a LOT of money, real money"

2COOL/Greg commented "not getting wealthy working for someone else,".

Both those statements reminded me of a high school buddy who started working for AAMCO trans shop after graduation; did that for 7 years, then opened his own place. Retired about 10 years ago, no debt, with a nice house in Florida and Maryland; nothing outrageous, just nice houses and some other toys. I mentioned to him that he did very well to retire at 54 and have 2 houses paid off. His next comment was one I'll never forget..He said "You have NO IDEA how much money is out there until you go into business for yourself."

2COOL is correct; America is the best country on earth to get whatever you want; just need a plan, commitment, and hard work. Sad fact is, many kids are taught that "rich people" owe them something....because they're rich.. Lousy parents teach that crap.

Bob
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