Based Wage Making: Money Sitting as a Service

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Based Wage Making: Money Sitting as a Service

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BEHOLD: MY CAPE: Jan 11, 2004

totalnewbie posted:

According to https://dqydj.com/sp-500-periodic-reinvestment-calculator-dividends/

Starting January 1980 until today, 5000/month initial investment increasing monthly by inflation, final portfolio is 37 million after capital gains tax, with 5 million invested. This includes dividends, according to the calculator.

50k/mo nets 366 million.

A busy neurosurgeon in private practice could have easily cleared $1MM/year, possibly much more with lucrative surgicenter or imaging facility ownership, especially through the 80s and 90s, so $50k/mo would be a realistic monthly nut after which to model our hypothetical aggressive index investor. Thanks for doing the math, my point really is that 40 years of compounding returns can make you really loving rich even off of relatively modest regular investments even if you aren't a shrewd and lucky speculator in niche real estate

# ? Apr 26, 2019 03:50

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# ? Jun 8, 2024 19:44

crazypeltast52: May 5, 2010

nothing

crazypeltast52 fucked around with this message at 05:31 on Apr 26, 2019

# ? Apr 26, 2019 04:13

crazypeltast52: May 5, 2010

Since I posted, I would be a liar if I said I wouldn�t accumulate so much NFA poo poo when I�m old and give zero fucks. Picking up brass for reloading will be what finally throws out my back.

# ? Apr 26, 2019 05:30

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

NFA like the gun stuff???

I wouldn't be surprised if pre 1986 machine guns have been the best performing asset class in the past 40 years!

# ? Apr 26, 2019 05:43

Liquid Communism: Mar 9, 2004; коммунизм хранится в яичках

GoGoGadgetChris posted:

NFA like the gun stuff???

I wouldn't be surprised if pre 1986 machine guns have been the best performing asset class in the past 40 years!

Unlikely. They're expensive on a 'things you put in the closet and shoot once a year' level, but not that big of a growth market. They aren't making any more of them, but they're a very durable good that mostly sits in safes 364 days a year, so the supply isn't decreasing noticeably either.

# ? Apr 26, 2019 11:40

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Liquid Communism posted:

Unlikely. They're expensive on a 'things you put in the closet and shoot once a year' level, but not that big of a growth market. They aren't making any more of them, but they're a very durable good that mostly sits in safes 364 days a year, so the supply isn't decreasing noticeably either.

Are they mostly in the hands of consumers who just store them in safes though? I kinda imagine that maybe a lot of them are deployed in corporate security context or something more high-end. Finite supply and all.

# ? Apr 26, 2019 11:50

Warheart525: Jun 22, 2008; Ab-so-lutely!

crazypeltast52 posted:

Where in MN area you again?

Chris and Eat Faster, I�ll drive this acreage if we want to form Goonfarm LLLP off foreclosed acreage.

Goon Acres is the place to be
Farm living is the life for me...

# ? Apr 26, 2019 11:51

Cyrano4747: Sep 25, 2006; Yes, I know I'm old, get off my fucking lawn so I can yell at these clouds.

John Smith posted:

Are they mostly in the hands of consumers who just store them in safes though? I kinda imagine that maybe a lot of them are deployed in corporate security context or something more high-end. Finite supply and all.

Those people all just have access to new registered poo poo. All it takes is having an FFL. This is why most rental places have post-86 guns. Really, though, they aren�t using MGs. The vast majority of corporate security type poo poo in the US is going to be fine with normal guns.

# ? Apr 26, 2019 12:06

Phanatic: Mar 13, 2007; Please don't forget that I am an extremely racist idiot who also has terrible opinions about the Culture series.

Liquid Communism posted:

Unlikely. They're expensive on a 'things you put in the closet and shoot once a year' level, but not that big of a growth market. They aren't making any more of them, but they're a very durable good that mostly sits in safes 364 days a year, so the supply isn't decreasing noticeably either.

Mac10s have gone from ~$2k in 2003 to $8k today. MP5s from about 10k to about 40k. M76s used to be 5k, now they're 15.

# ? Apr 26, 2019 12:48

DJCobol: May 16, 2003; CALL OF DUTY!; Grimey Drawer

GoGoGadgetChris posted:

Lucky bastard. My tiny dick set me back about $60k

This is the post of the year right here folks.

# ? Apr 26, 2019 13:11

Nocheez: Sep 5, 2000; Can you spare a little cheddar?; Nap Ghost

Phanatic posted:

Mac10s have gone from ~$2k in 2003 to $8k today. MP5s from about 10k to about 40k. M76s used to be 5k, now they're 15.

Does that include the cost of transferring the license, which is like $10g IIRC?

# ? Apr 26, 2019 13:31

Tyro: Nov 10, 2009

Nocheez posted:

Does that include the cost of transferring the license, which is like $10g IIRC?

A tax stamp is $200.

# ? Apr 26, 2019 13:41

Fitzy Fitz: May 14, 2005

Bought a salon for $80k, old owner opens up salon across the block and is taking all the old customers

quote:

Title says it all, me and my family are not in the best of place because of this. If the old owner wanted to continue running their salon I don't understand why they would sell it and then open a new one the next day. Is there anything I can do? I have spent my life savings on this.

Please help me with some advice

Props to the former owner for completely destroying this person. jesus christ.

# ? Apr 26, 2019 14:25

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Fitzy Fitz posted:

Bought a salon for $80k, old owner opens up salon across the block and is taking all the old customers

Props to the former owner for completely destroying this person. jesus christ.

lollllllllllll why would you buy someone's business without an ironclad non-compete?!

# ? Apr 26, 2019 14:31

Tyro: Nov 10, 2009

Fitzy Fitz posted:

Bought a salon for $80k, old owner opens up salon across the block and is taking all the old customers

Props to the former owner for completely destroying this person. jesus christ.

Amazing

# ? Apr 26, 2019 14:50

Elysium: Aug 21, 2003; It is by will alone I set my mind in motion.

Wasn't this a plotline in Parks and Rec.

# ? Apr 26, 2019 15:05

spwrozek: Sep 4, 2006; Sail when it's windy

Elysium posted:

Wasn't this a plotline in Parks and Rec.

Almost. Dr.S wanted to buy Tom out and when you said no he opened Tommy's closet across the street and put rent-a-swag out of business.

# ? Apr 26, 2019 15:12

colachute: Mar 15, 2015

Phanatic posted:

Mac10s have gone from ~$2k in 2003 to $8k today. MP5s from about 10k to about 40k. M76s used to be 5k, now they're 15.

drat I need to watch Lord of War and take notes because that seems GWM.

# ? Apr 26, 2019 15:12

Midjack: Dec 24, 2007

colachute posted:

drat I need to watch Lord of War and take notes because that seems GWM.

I wouldn�t. The international and military markets work very differently than the US civilian market. Weapons will always be somewhat risky investments due to legislative vulnerability that can make them worthless overnight (see New Zealand and Connecticut) and to a lesser extent social stigma.

# ? Apr 26, 2019 15:21

Hoodwinker: Nov 7, 2005

Borrowing parents' 401K

quote:

Hi everyone,

I am 27/M/Soon to be married. I plan to ask my parents to take 401K loans and lend it to me. I will use that money to pay my high-interest debt. My question is, in middle of the loan term, let's say I paid back 15% of the original balance, can my parents use that 15% to continue investing? I plan to borrow $10k and am willing to pay 6% interest to my parents. A year later, I pay $2000 extra, will that paid money be investable again on the 401K account?

Thanks you all,

# ? Apr 26, 2019 15:39

Ham Equity: Apr 16, 2013; The first thing we do, let's kill all the cars.; Grimey Drawer

Hoodwinker posted:

Borrowing parents' 401K

I wonder how much they're paying for the wedding?

# ? Apr 26, 2019 15:56

crazypeltast52: May 5, 2010

Midjack posted:

I wouldn�t. The international and military markets work very differently than the US civilian market. Weapons will always be somewhat risky investments due to legislative vulnerability that can make them worthless overnight (see New Zealand and Connecticut) and to a lesser extent social stigma.

Margins might be good, but regulatory risks are high!

# ? Apr 26, 2019 15:59

Ham Equity: Apr 16, 2013; The first thing we do, let's kill all the cars.; Grimey Drawer

Midjack posted:

I wouldn�t. The international and military markets work very differently than the US civilian market. Weapons will always be somewhat risky investments due to legislative vulnerability that can make them worthless overnight (see New Zealand and Connecticut) and to a lesser extent social stigma.

What major gun legislation happened after Connecticut?

The one thing you can be sure about when it comes to mass shootings in the U.S. is that they're great for gun sales.

# ? Apr 26, 2019 16:02

Midjack: Dec 24, 2007

Thanatosian posted:

What major gun legislation happened after Connecticut?

The one thing you can be sure about when it comes to mass shootings in the U.S. is that they're great for gun sales.

CT banned ownership, not just sale, of a bunch of types of weapons a couple of years ago so they had to either be surrendered or removed from the state. Something like that turns your $50k machine gun investment into a legal liability (insta jail) overnight.

# ? Apr 26, 2019 16:14

Salt Fish: Sep 11, 2003; Cybernetic Crumb

Page 102: don't talk about taking rent, the ethics posters might give us a hard time

Page 103: I wonder if I could make money selling machine guns during times of high conflict

# ? Apr 26, 2019 16:19

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

Salt Fish posted:

Page 102: don't talk about taking rent, the ethics posters might give us a hard time

Page 103: I wonder if I could make money selling machine guns during times of high conflict

lol at the characterization of CSPAM as "ethics posters."

Plus tankies fuckin LOVE guns.

# ? Apr 26, 2019 16:37

Ham Equity: Apr 16, 2013; The first thing we do, let's kill all the cars.; Grimey Drawer

Midjack posted:

CT banned ownership, not just sale, of a bunch of types of weapons a couple of years ago so they had to either be surrendered or removed from the state. Something like that turns your $50k machine gun investment into a legal liability (insta jail) overnight.

According to the Wikipedia article, anything owned before the law went into effect you get to keep, you just have to register.

https://en.wikipedia.org/wiki/Gun_laws_in_Connecticut

Ham Equity fucked around with this message at 17:04 on Apr 26, 2019

# ? Apr 26, 2019 16:39

ChickenOfTomorrow: Nov 11, 2012; god damn it, you've got to be kind

ChickenOfTomorrow fucked around with this message at 03:06 on Apr 18, 2021

# ? Apr 26, 2019 17:00

H110Hawk: Dec 28, 2006

My 3 year old nephew is future fodder for this thread. He got a toy toolkit for his birthday and was extremely excited. He grabbed the hammer and said: "I'm a worker now! I'm going to use the hammer to break our car so we have to buy a truck!"

I would definitely co-sign this kids $75k truck loan.

# ? Apr 26, 2019 17:25

DaveSauce: Feb 15, 2004; Oh, how awkward.

H110Hawk posted:

My 3 year old nephew is future fodder for this thread. He got a toy toolkit for his birthday and was extremely excited. He grabbed the hammer and said: "I'm a worker now! I'm going to use the hammer to break our car so we have to buy a truck!"

I would definitely co-sign this kids $75k truck loan.

no but you see I once had to pay $100 for delivery of a brand new refrigerator I won't be making THAT mistake again!

edit: and with all the money I have sitting around that I saved from delivery fees I'll have to invest it in a boat, and of course I have to haul that!

DaveSauce fucked around with this message at 18:10 on Apr 26, 2019

# ? Apr 26, 2019 18:08

Cacafuego: Jul 22, 2007

Hoodwinker posted:

Borrowing parents' 401K

Adult children are eating into parent's retirement savings: Study

quote:

If you thought the Bank of Mom and Dad closed its doors after the kids have grown up, think again.

The average cost of raising a child to age 18 is estimated to be $233,610, according to the U.S. Department of Agriculture.

The expenses continue long after your child has entered adulthood.

Half of parents participating in a recent Bankrate.com survey said that they�ve sacrificed their own retirement savings in order to help their grown children with their finances.

There are people who will put their retirement on the backburner just to have their kids living at home, even if they aren�t paying rent.
Doug Oosterhart

The personal finance site polled 890 adults in April. The participants had at least one child who�s 18 years old or over.

Even parents with higher incomes curtailed their retirement savings. Six out of 10 parents said they�ve jeopardized their retirement savings in order to help their kids pay the bills.

�We found that higher earners are more likely to sacrifice retirement savings,� said Kelly Anne Smith, a Bankrate.com analyst. �It�s a trend spanning across all different households.�

Three out of 10 parents with kids who are currently in college or who have recently graduated said they may have to postpone retirement because they pitched in for higher education, according to a 2018 survey by Discover Student Loans.

College expenses only constitute a portion of the bills parents are paying.

More than half of parents whose kids are between 18 and 34 are covering at least part of their cell phone bill, according to data from Bank of America.

Six out of 10 continue to buy food for their grown children, Bank of America found. Nearly 30 percent are paying down Junior�s student loans.

�There are people who will put their retirement on the backburner just to have their kids living at home, even if they aren�t paying rent,� said Doug Oosterhart, a certified financial planner and founder of LifePoint Planning in East Lansing, Michigan.

�In extreme cases, they�re not really saving anything for retirement,� he said.

Instead of abruptly cutting your kids off, Oosterhart recommends gradually turning off support and redirecting that cash toward your retirement savings.

Here are a few steps to consider.

� Set limits: Reach a compromise with your child to keep him or her accountable.

For instance, Oosterhart has a client with three kids in college and a high-schooler. She needs to save for retirement, but she also wants to help her kids with their higher education.

�An interesting idea we came up with involves having the kids use loans for college and then her potentially helping with the monthly payment as the kids demonstrate their work ethic and get jobs,� Oosterhart said.

� Get organized: Tally the bills you�re paying and see where you can rein in the expenses and what your child can cover. �The communication is �Here�s when the phone bill payment stops and how you can start paying for it,�� said Oosterhart.

� Be realistic: It�s one thing to save responsibly in a tax-advantaged 529 college savings plan. It�s an entirely different issue if you�re putting money away for your child at the expense of your own retirement.

�You can borrow your way through school, but you can�t borrow through retirement,� Oosterhart said.

Cacafuego fucked around with this message at 19:02 on Apr 26, 2019

# ? Apr 26, 2019 18:58

Shipon: Nov 7, 2005

Cacafuego posted:

Adult children are eating into parent's retirement savings: Study

Revenge for the boomers loving everything up

# ? Apr 26, 2019 19:02

Motronic: Nov 6, 2009

Cacafuego posted:

Adult children are eating into parent's retirement savings: Study

quote:

�We found that higher earners are more likely to sacrifice retirement savings,� said Kelly Anne Smith, a Bankrate.com analyst. �It�s a trend spanning across all different households.�

Duh. A high earner that has been saving for retirement is likely to be all set, and additional money they make just goes into retirement - because they have nothing else to do with it other than that, and cut down a few years of working and/or fund a more lavish retirement. By definition, any money they don't put there is "sacrificing retirement savings." At some point you just don't need the amount of money you are bringing in (above and beyond "regular" retirement savings) if you're in that kind of fortunate high earner situation and have been living responsibly.

This stinks of poorly asked survey questions.

# ? Apr 26, 2019 19:06

DJCobol: May 16, 2003; CALL OF DUTY!; Grimey Drawer

Motronic posted:

This stinks of poorly asked survey questions.

Have you ever tried sugar, or PCP?

# ? Apr 26, 2019 19:07

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Motronic posted:

This stinks of poorly asked survey questions.

Extremely agree.

I feel like what they were going for was, "children are bleeding their parents dry"

What they accomplished was, "rich people are giving money to their kids while still alive"

That said, I have a TON of coworkers who don't contribute a penny to their (generously matched) 401k because "I got kids, dude, I'm not gonna let them starve so I can play the stock market. You'll Understand When You Have Them (tm)"

# ? Apr 26, 2019 19:09

EAT FASTER!!!!!!: Sep 21, 2002; Legendary.

GoGoGadgetChris posted:

That said, I have a TON of coworkers who don't contribute a penny to their (generously matched) 401k because "I got kids, dude, I'm not gonna let them starve so I can play the stock market. You'll Understand When You Have Them (tm)"

*cue screams at void*

# ? Apr 26, 2019 19:15

ChickenOfTomorrow: Nov 11, 2012; god damn it, you've got to be kind

your coworkers are having to choose between retirement and feeding their kids????

pay them more

# ? Apr 26, 2019 19:15

colachute: Mar 15, 2015

GoGoGadgetChris posted:

Extremely agree.

I feel like what they were going for was, "children are bleeding their parents dry"

What they accomplished was, "rich people are giving money to their kids while still alive"

That said, I have a TON of coworkers who don't contribute a penny to their (generously matched) 401k because "I got kids, dude, I'm not gonna let them starve so I can play the stock market. You'll Understand When You Have Them (tm)"

�I don�t plan on being here long enough to vest it so I don�t contribute� is what I have heard people say a lot.

# ? Apr 26, 2019 19:17

Midjack: Dec 24, 2007

Thanatosian posted:

According to the Wikipedia article, anything owned before the law went into effect you get to keep, you just have to register.

https://en.wikipedia.org/wiki/Gun_laws_in_Connecticut

Yeah, ok I remembered wrong. My main point stands.

# ? Apr 26, 2019 19:17

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# ? Jun 8, 2024 19:44

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

colachute posted:

�I don�t plan on being here long enough to vest it so I don�t contribute� is what I have heard people say a lot.

Oh gently caress yeah, this all day. I would guess that at least half the workforce thinks their own contributions are subject to the vesting schedule as well.

# ? Apr 26, 2019 19:18

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Based Wage Making: Money Sitting as a Service

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