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Hate the Rich/Successful Folks
#11
(04-07-2016, 09:24 PM)mikesdca Wrote: Anyway, after reading about 10 or so I came across one that just struck me as being wrong.  I tried to find the website again today but could not. 

The guy was 27 years old and he had a $100K portfolio, but he was showing his monthly income from it at it was only a little over $200.  That got me curious so I looked at the About page (nothing really), just a 27 year old guy. 

Then I found his income and expense page.  He listed his income which was mostly salary of a little over $4,000 (usual--hated his job) and then he listed his expenses.  Normal stuff, car payment, student loan, phone, food, dining out, etc.  No listing of rent or mortgage? On some page he mentions Bernie as if a supporter.  I looked at some other pages but nothing else about him--which just led me to believe he was a 27 year old, living with his parents and not really taking on any responsibility. Just a no account. not contributing anything, not even liking what he is doing for a living.  

I pulled my SS statement just last month and counted the years I had income from work.  36, out of 51.  That's right.  I was 15 and a half when I started working my first job and I still remember it. I had to get permission from my parents as I recall.  Different time. We were hungry to work back then.  We wanted the experience and any income we could get.  Parents did not expect you to be living with them 10 years out of high school.

I don't think it is hypocritical to call someone out who seems to be living the opposite way that our culture was when the country was strong.  That is self-reliance, patriotism, strong work ethic, sacrifice, etc.  What I think the problem is being 27, this kid has never known or lived in a country that still has those values.  Sad.  Makes me sad.

Well this guy is working and preparing for his future. He might not enjoy his job but you can hardly hold that against a person... he is working because of the income, not because he loves it. If that is a crime then I'd say at least half of the people in the world are guilty. I too have had jobs that I didn't particularly enjoy but I did them anyway since I needed the income. And I'm fairly certain that you too have had times during those 51 years where you weren't exactly thrilled to go to work in the morning.

The way I see it, the only thing that makes you hate this guy is the fact that he doesn't pay rent or mortgage. If he lives with his parents (which might not even be the case) I do think it's a bit odd that with such income he doesn't chip in, then again we know almost nothing about the situation. Maybe he lives with his wife/girlfriend and she takes care of the rent and he pays the rest of the stuff like groceries? Maybe his parents are old and through smart tax planning figured that it's better to pay his rent over several years rather than leave the money as inheritance which will of course be taxed? Maybe his employer is paying for his rent?

I just don't see what you have against people like him, who will probably become financially independent by 40. They have worked for it, they have planned it and quite frankly I'm very happy for them if they can truly do what they want for 40-50 years instead of being in the rat race until they turn 65.
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#12
During my first few years out of law school, I was making good money, and saving a lot because I had few expenses (though I was paying rent!). And back then you could get 6 percent interest on a savings account! I was doing projections showing me completely financially independent by 45. (And that was before I even discovered DGI.) Then I got married. And bought a house. And had a kid. And then my kid got sick. Now I'm 46 and although I still save and invest, I wonder if I'll ever be able to retire. I applaud anyone who is considering and planning their financial future from a young age, but at 27, you have no f***ing idea what life has in store for you.
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#13
(04-06-2016, 11:08 PM)mikesdca Wrote: Hi, I haven't posted much, but I cannot process what seems to be a very strong sentiment against the wealthy or successful class in the US.  I am 51 --so use that for reference.  

When I grew up (70's & 80's) we LOVED the wealthy class.  That was what we aspired to be, that was our dream.  We were told that those that risked, were rewarded. Anyone could be rich if they worked hard.  Back then (and now), I never was envious or had a hatred to wealthy folks like I see today?  What is up with that?

At 51, I am earning more that I ever have.  Don't let my age fool you.  My income has increase almost 3X over the past three years and I think I would be in the classification of being "wealthy".  My net worth is good and improves all the time, I have several rentals that bring income, I have a high value DGI portfolio that brings revenue --and I have my job, with an income that is very high. 

It seems to me, to the American public---- I am seen as the enemy?  I am the problem. They don't have what I have-- and they want some cut of what I have worked so hard to achieve. When did that become a reality? What kind of thinking is this?  No one, not even the government is entitled to what I have worked so hard to achieve. 

Where do people come off advocating this crap? 

I look at Bernie Sanders campaign and I laugh--but others (mostly young folks) are treating it as serious.  What the hell is this?  I am sorry young folks.  I don't want to support your free college while you live at home and build a nice portfolio. 

So many new DGI bloggers want to retire at age 30-35!  Good for you. You can do that by living at home and paying no rent.  I want you to get out of the house and make your own way--be an asset to society rather than a sucker of benefits.  Be independent and stand on your own like we have all had to do. That is the AMERICAN WAY.  What you are doing is not the American Way. 

Rant - I agree.  Sorry.  I am frustrated with our culture at the moment.
A bit of gratitude might help with the frustration.
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#14
(04-08-2016, 07:50 AM)Kerim Wrote: During my first few years out of law school, I was making good money, and saving a lot because I had few expenses (though I was paying rent!). And back then you could get 6 percent interest on a savings account! I was doing projections showing me completely financially independent by 45. (And that was before I even discovered DGI.) Then I got married. And bought a house. And had a kid. And then my kid got sick. Now I'm 46 and although I still save and invest, I wonder if I'll ever be able to  retire. I applaud anyone who is considering and planning their financial future from a young age, but at 27, you have no f***ing idea what life has in store for you.

Kerim, you and I are basically the same age and let's be honest with ourselves, we still don't have an idea what life has in store for us, lol. In 20 years we're going to look back when we were 45/46 and think my gawd, "What the freak was that all about?" Or any other many different things we can ponder about in a couple of decades.



I think this is an interesting topic; however, I just don't have the time to respond at the moment.
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#15
This is a hot topic right now, especially with the Bernie Sanders political ads on the boob-tube the last few days.

There is no denying the fact that CEO's salaries have dramatically increased the last 3 to 3 1/2 decades compared to the average employee. When one looks at Lee Iacocca's salary, it's peanuts in comparison. Do today's CEO's deserve this exuberant pay? With the never ending golden parachutes to some of these very unsuccessful CEO's, a simple answer IMHO is NO. I have no problem with a Steve Jobs, Warren Buffet, Bill Gates or any of these founders of many great companies being worth billions. My issue is if a CEO fails at his job does he deserve a pay package at the expense of other employees and shareholders? And these stock options not hurting or count towards the bottom line? Really? Okay, whatever.

Having said this, I'm also a believer that you can give some people millions and they'd still end up broke no matter what--there is a reason why some people can create wealth for themselves and others cannot, even through good old fashion luck. It just doesn't give anyone the right to lie, cheat and steal on any level and that includes those participating within the welfare system.
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