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If your parents gave you a 100K trust at birth, you'd be multi millionaire by no
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Date: April 19th, 2018 12:00 PM Author: Cordovan Bateful Dingle Berry w
and you could quit biglaw for a low pay, low stress job or work part time
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Date: April 19th, 2018 12:02 PM Author: Cordovan Bateful Dingle Berry (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874264) |
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Date: April 19th, 2018 12:03 PM Author: dark immigrant pozpig Yeah... (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874275) |
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Date: April 19th, 2018 12:04 PM Author: Cordovan Bateful Dingle Berry our parents should have aborted us (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874279) |
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Date: April 19th, 2018 12:09 PM Author: dark immigrant pozpig You better be out of the house by the time you’re 18, no handouts either you’ll be bootstraping just like I did also you should work hard so I can retire early, why you ungrateful little shit I GAVE U LIFE (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874311) |
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Date: April 19th, 2018 12:12 PM Author: Cordovan Bateful Dingle Berry Oh btw, I bought a townhouse in NYC for 100K on my own - you should do the same, you lazy leech. Working hard for your corporate overlords should be your one and only life goal. Hard work pays off, ALWAYS.
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Date: April 19th, 2018 12:14 PM Author: Cordovan Bateful Dingle Berry I worked hard, you ungrateful shit. I had to stay late sometimes in my six figure government job with full pension - sometimes even after 4 PM to run reports! (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874357) |
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Date: April 19th, 2018 12:16 PM Author: dark immigrant pozpig *fires up $5000 luxury outdoor grill* (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874375) |
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Date: April 19th, 2018 12:18 PM Author: Cordovan Bateful Dingle Berry *proceeds to lecture you about the importance of saving money and how "a dollar saved on coffee is a dollar in the bank"* (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874393) |
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Date: April 19th, 2018 12:06 PM Author: amethyst excitant hairy legs fucking bullshit they didn't give me $100k of aapl at birth. fuck those guys. (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874294) |
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Date: April 19th, 2018 12:07 PM Author: Cordovan Bateful Dingle Berry they failed us big time (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874297) |
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Date: April 19th, 2018 12:21 PM Author: demanding self-absorbed mexican You would have been pretty pissed during high school. (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874410) |
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Date: April 19th, 2018 12:10 PM Author: Fantasy-prone indian lodge my parents couldn't afford to create a $100k trust fund because they had kids :( (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874327) |
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Date: April 19th, 2018 12:11 PM Author: histrionic ungodly abode really tough guy Yea man, kids are expensive. (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874334) |
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Date: April 19th, 2018 12:12 PM Author: Fantasy-prone indian lodge I know man, I just spent $320 on baby formula (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874340) |
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Date: April 19th, 2018 12:53 PM Author: White Contagious Mental Disorder Community Account I've got 100k now. Does that mean I'll be a multimillionaire right about the time that I'm ready to die? (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874629) |
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Date: April 19th, 2018 12:59 PM Author: Big Crusty Fanboi i wish i had started investing at a young age. time is the important variable in the equation
if i ever have kids i want to do this for htem |
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Date: April 19th, 2018 1:05 PM Author: Cordovan Bateful Dingle Berry cr, i dont even care where my kid goes to college
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Date: April 19th, 2018 1:05 PM Author: White Contagious Mental Disorder Community Account Aren't you like 28? What were you going to do get a job in middle school and invest the $7.50 earned per hour? (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874736) |
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Date: April 19th, 2018 1:06 PM Author: Big Crusty Fanboi i copped some inheritance which i blew on grad school/being a dumb college kid. i also made decent cash in high school restaurant job and blew it all on dumb shit (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874747) |
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Date: April 19th, 2018 1:08 PM Author: demanding self-absorbed mexican Thank god for eth, amirite? (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874763) |
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Date: April 19th, 2018 1:05 PM Author: demanding self-absorbed mexican For my kids I put $100 in an Acorns account every month. When they start getting an allowance they’ll have to start contributing some portion of that $100, but basically I’ll pay most of it until they are working. They will have to commit to putting $100 in there until they are 30 and then I’ll give them control with a pledge to continue for the rest of their working life. At 6.5 percent that guarantees $1 million by retirement.
But my point is to get them greedy for savings. |
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Date: April 19th, 2018 1:11 PM Author: Big Crusty Fanboi what are you investing in for the 6.5%, brother? (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874802) |
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Date: April 19th, 2018 1:13 PM Author: demanding self-absorbed mexican No, it’s all scaled to “Aggresive” but I am assuming 6.5 worst case. The basic point is that by age 30 they’ve saved a little less than $40k and have more than $100k. (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874824) |
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Date: April 19th, 2018 1:13 PM Author: Big Crusty Fanboi 180 thats a solid down payment, if nothing else (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874832) |
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Date: April 19th, 2018 1:28 PM Author: Sticky cobalt crotch senate 6.5% WORST CASE? ljl brother. there is nowhere you're going to find those returns over the next 20 years. you'll be lucky to get 2.5% (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874995) |
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Date: April 19th, 2018 1:26 PM Author: Fantasy-prone indian lodge I always assume 3% rate of return. Seems hopeful to bank on 6.5% returns. (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874971) |
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Date: April 19th, 2018 1:22 PM Author: marvelous useless brakes market We spend more than that per child (nearly $150,000) for K-12 education.
According to a Georgetown Study, https://cew.georgetown.edu/wp-content/uploads/2014/11/collegepayoff-complete.pdf page 3, a high school diploma holder can expect to earn $1.3 million over a lifetime. $32,600 a year.
A investment of $150,000 when born, at 4% compounded annually would be $303,872.48. Taking that $303,872.48 compounded over a 40 year time period at the same 4% would be $1,458,898.04. A net gain over the value of a high school education. Add on whatever noneducated lifetime of labor wages and that could be comparable to lifetime earnings of a bachelor degree, at $2.3 million.
Calculated at the S&P Annual historical gain of 10%, the numbers are $833,987.60 and $37,745,657.93.
Just to give you a perspective on how much we potentially waste on educating the masses. |
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Date: April 19th, 2018 1:23 PM Author: Cordovan Bateful Dingle Berry the numbers are prob even worse now b/c boomers lived in the glory days and the data is old (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874945) |
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Date: April 19th, 2018 1:27 PM Author: marvelous useless brakes market yeah, iirc the "lifetime earnings for degree" numbers have been falling and they're always done with out of date studies. (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874983) |
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Date: April 19th, 2018 1:33 PM Author: marvelous useless brakes market Fun fact from that study: 13% of Masters Degrees work as Elementary or Middle School teachers. Average life time earnings: $2.15 million. (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35875063) |
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Date: April 19th, 2018 1:34 PM Author: Cordovan Bateful Dingle Berry including pension? (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35875076) |
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Date: April 19th, 2018 1:39 PM Author: marvelous useless brakes market doesn't say. i doubt it. probably doesn't include healtcare either (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35875130) |
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Date: April 19th, 2018 1:39 PM Author: Cordovan Bateful Dingle Berry LJL @ working "professionals" (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35875136) |
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Date: April 19th, 2018 1:24 PM Author: Diverse stag film volcanic crater sim glitch: my parents did in fact do this and I do now in fact have a $1.3mish networth with some additional expected outlays expected from the family trust.
however, I am still in biglaw. |
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Date: April 19th, 2018 1:26 PM Author: Cordovan Bateful Dingle Berry *slits my wrists* (http://www.autoadmit.com/thread.php?thread_id=3953811&forum_id=2#35874972) |