That's what happens when what you own isn't earned.
Sent from my meh, using my meh.
Sent from my meh, using my meh.
Honestly, its about 5 these days. You could make it on 3 with the right investments, but even then, the taxes would likely kill the ability to live "comfortably" being a millionaire.
sucks for him. Personal finance/budgeting should be taught early on and reinforced. Without it this is what happens.
I can't say I'm perfect in this respect. But I do manage to continually save and have yet to pay a bill late. That being said. If I were to face such unfortunate circumstances and ended up coming into possession of a large sum of money. I sure as heck wouldn't leave it sitting in my checking account. Straight to my financial planner to discuss securing that asset and making it work for me.
I can't say I'm perfect in this respect. But I do manage to continually save and have yet to pay a bill late. That being said. If I were to face such unfortunate circumstances and ended up coming into possession of a large sum of money. I sure as heck wouldn't leave it sitting in my checking account. Straight to my financial planner to discuss securing that asset and making it work for me.
Taught where and by who?
My parents didn't know how to manage money,,,
It was always feast or famine at my house,,,
For 45 years it was all I knew how to do.
Most of the young families I know are up to their eyeballs in debt,,,
They are all trying to live the lifestyle they "deserve",,,
Whether or not their income will support it.
When a dual income family with two kids has a $200,000.00 five bedroom house,,,
And over 50% of their income goes towards that huge mortgage,,,
These people need more help than financial planning,,,
They need an entire attitude adjustment.
Add a drug habit into the mix,,,
I'd be surprised if a million bucks lasted a year.
I didn't even have any heavy vices back then,,,
And I burned through a $12,000 re-enlistment bonus in 6 months,,,
And at that time that money was just under two years salary for my pay grade.
Back in the late 70's I knew a family that won $250,000.00 in the lottery,,,
They were smarter than some in that they bought a nice home with the money,,,
But they didn't take into account that the taxes and upkeep would be more than their income.
Oh well,,,
Aarond
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true story aarondgraham. I think consumer math or financial literacy should be a mandatory class in all schools. I took one, I made both my kids take it. Why that class that I have personally used more in my personal and professional life than any other class I've ever taken is an elective or not available at all in some schools is beyond me
If I won a million dollars I would spend $950k on Booze, women and gambling. The rest I would just piss away.
Same with NBA, Baseball, and NFL players.
They get tons of money, bring the boys from the hood with their bad habits with them, and we all know how that works out. Ask Michael Vick.
One of the kids that played in the same little league baseball with my son went on to the big leagues, and is now back in Ponca mowing yards and coaching little league.
Ah well, we cant All be wealthy, happy, And debt free....somebody's got to be the poor And downtrodden....Peace
If I hit a big Lotto, the first thing I would do is call Tom Mabe's agent.
I figure I could let them publish my name and let him take the phone calls and do a 30/70 split, him getting the 70.
Then I'd buy another boat and a sonar and see if I could find my firearms.
Oh and a box of .22's, a big box.
Look at the Minor twins. Ryan took Cal Ripken's position at 3rd for the first time in 2632 (not all at third) games, then dropped off the map (more or less).
Personally, I always thought Damon was the better baseball player.
I figure I could let them publish my name and let him take the phone calls and do a 30/70 split, him getting the 70.
Then I'd buy another boat and a sonar and see if I could find my firearms.
Oh and a box of .22's, a big box.
Look at the Minor twins. Ryan took Cal Ripken's position at 3rd for the first time in 2632 (not all at third) games, then dropped off the map (more or less).
Personally, I always thought Damon was the better baseball player.
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