Yes. I can’t tell you how many times I’ve met these guys or socialized with them or (especially) seen them with their kids and had an “a-ha” moment of legitimate sadness. Characteristics that allow one to accumulate an actual fortune are highly inversely correlated with having healthy interpersonal relationships.
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What strikes me about the car dealer / PE banker / real estate developer is that those jobs are very transactional. You do a deal with someone once, and if you screw them over in the short term you are better off in the short term with little to no long term downside. I think these do probably correlate pretty well with the larger accumulated net worth households. Profits from transactions tend to be pretty scalable - once you have a process in place to make X transactions per year profitably you can borrow money to make a business that does 10X transactions per year, and then later scale up to 100X per year, etc. etc.
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I was close family friends with an ultrarich couple like that until a couple years ago. One funny quirk was that the matriarch of the fam would constantly dress the two toddlers in the latest fashion. With every changing season the 3 and 5 year old would get brand new wardrobes.
If you’re of normal means you probably think I meant new jackets and sneakers. Nope. Think more like head to toe Gucci or Burberry or a tiny LV handbag for jokes. Every time I saw them the kids would look like chubby little fashion models.
I’m going to have to show that article to my brother who works as an actuary at a P&C company to get his feedback and report back.
Time for a victory lap from whoever said Idiocracy wouldn’t be as funny now.
His dialysis center won’t allow his life-size Trump cutout, so this man refuses to go
Dying of kidney failure to own the libs.
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I don’t see the connection. I’m suggesting there’s a race to the bottom with wages among the most desperate. On the first level anyway an increase of minimum wage would help.
I don’t think minimum wages are a panacea or anything though.
But jello cake is the best cake ever made and nearly challenges pie, unlike most other cake.
Cool so after we re re re litigate who is “rich,” let’s discuss tipping. Surely this time we will reach some sort of consensus.
I am having some weird economic feelings. I have mostly been poor and broke and desperate my entire life. Now I have my own business and it’s not like I am even middle class but I make fine money for my lifestyle and family. My partner for a long time was the breadwinner and I brought in what I could.
Now she’s not working and we are in a place where access to her medication is prohibitively expensive. We won’t be here long but it is what it is because we came to this place for a bigger reason and we knew this would be a problem.
So anyway, we figured out costs for the foreseeable future. I curled up and cried for an hour from the weight of her desperate feelings and the pressure to figure this out.
Then I said okay let’s get to work Risky. By the end of the day I had generated enough business and immediate cash to tell her don’t worry, we are set for X months. We will have your medication within two days.
I have never been in a position to say let’s fucking GO and be able to manifest outcomes like this. It’s like a profound moment of financial security and stability coming into conflict with a lifetime of wondering if I’d get to eat or pay rent this month.
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No more tipping. I say this as someone who tips really well and doesn’t appreciate the fact that he’s effectively subsidizing shitty Boomers who tip poorly.
This is a fight I’m always enthusiastically ready to have where I’m 100% certain that I’m right. Not an easy thing to find lol.
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Oh dude I identify with that so strongly it’s absurd. Congratulations it’s a wonderful feeling finally being able to make shit happen.
Ty. I have been steadily growing the business over the last couple of years. Even when doing well I was like yeah but anyone can have a good month. Well now it’s been a couple of years and it’s settling in that this might be my new normal.
Yeah it took me a long long time to adjust to my new reality where I’m not only not poor but very likely never will be again. I just had literally the worst year for my industry in a decade and I still made upper middle class money and the major consequence was posting too much on this fucking website. My lifestyle didn’t change at all. Everything was totally fine despite my feeling a little bit anxious. Now it’s looking up and I’m back to making my normal upper upper middle class living almost immediately.
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are we talking upper middle class, well to do, quite well to do, or well-off money here?
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1% of what?
0.1% of what?
Dude, you are just being an asshole now. Not that BS needs anyone to stand up for him. But wtf. I am in the conversation too. How is this what you feel compelled to say in the midst of this dialogue? Please. I am politely requesting you stop at least for this conversation.
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I feel like there’s a pretty big difference between the multi-million having ownership class and the 1% w2 where three really bad days could ruin your life class. One of the major reasons I got out of my last industries was that it became completely clear how miserable the owners were once I got close to them. Just like four or five guys who really never had to work again constantly complaining about how unfair it was that people want their work expenses covered.