(Thread IKs:
skooma512)
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Ebola Roulette posted:That seems... low. Americans thinking that 2.2m is "rich" is proof that: 1) Most Americans are poor as poo poo b) Most Americans have absolutely no concept of the gap between them and the truly wealthy It's comfortable and you could theoretically live off of it indefinitely if you're both lucky and not terminally stupid, but it's not rich. It's not even rich enough to be truly insulated from medical expenses.
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Jun 17, 2023 04:23
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2 million is like the minimum you need to retire comfortably i thought. assuming investments dont go to hell.
RadiRoot has issued a correction as of 04:35 on Jun 17, 2023 |
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Jun 17, 2023 04:33
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RadiRoot posted:2 million is like the minimum you need to retire comfortably i thought. assuming investments dont go to hell. it is. at a safe draw down rate that will go just about forever, youll get like 75k a year out of that. which is pretty nice. not great. but nice.
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Jun 17, 2023 04:48
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silicone thrills posted:it is. at a safe draw down rate that will go just about forever, youll get like 75k a year out of that. which is pretty nice. not great. but nice. 75k with (if you weren't bad with your money) no mortgage/rent
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Jun 17, 2023 05:01
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Mustached Demon posted:75k with (if you weren't bad with your money) no mortgage/rent yeah in any major city and even most small ones it isnt super awesome.
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Jun 17, 2023 05:02
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2.2 million in an account that makes 4% will give you $88,000 a year without touching the principle
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Jun 17, 2023 06:28
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2.2 million at age 60 and you live to age 90 is $73,333 dollars a year if you just hold cash for some reason. I will not retire at 60 nor live to 90 remember investments will have a lower tax rate so its much better than making 75k a year you can't compare like that
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Jun 17, 2023 06:30
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What if we combined sports betting with crypto
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Jun 17, 2023 06:33
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Floor is lava posted:the ideal WFH body pretty sure this is actually an improvement from the present
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Jun 17, 2023 06:58
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lol the reddit ceo looks like this 
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Jun 17, 2023 07:03
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gradenko_2000 posted:What if we combined sports betting with crypto I assume that's what the Crypto.com Arena is for.
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Jun 17, 2023 07:08
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wfh lady looks like an sf6 avatar
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Jun 17, 2023 07:09
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Floor is lava posted:the ideal WFH body Pretty sure i fought this in Diablo 4
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Jun 17, 2023 07:12
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for as bad as reddit is, it's no facebook or nextdoor in terms of horror. jesus christ this is just like 10 days!! of nextdoor notifications. i have like 1000 nextdoor posts about CRIME!!! i think there';s like maybe 5 non-crime ones out of the 1000 
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Jun 17, 2023 07:17
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RadiRoot posted:2 million is like the minimum you need to retire comfortably i thought. assuming investments dont go to hell. I saw an article that was like, 4 million is the target for retirement. I remember when it was only one million in net worth or some poo poo
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Jun 17, 2023 07:28
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Xaris posted:for as bad as reddit is, it's no facebook or nextdoor in terms of horror. jesus christ this is just like 10 days!! of nextdoor notifications. i have like 1000 nextdoor posts about CRIME!!! i think there';s like maybe 5 non-crime ones out of the 1000 I get an email from them at least twice a week: "You've got 20+ unread notifications!" Nope. Not gonna read em. A bunch of Karen's asking the world to explain itself. No thank you. "What's going on at Anderson and route 5? I saw a bunch of lights." "I heard a loud bang! Does anyone know what's going on?" "I need a hero to listen to me gripe while you fix my dishwasher for $5." "Gimme free stuff." anonumos has issued a correction as of 09:03 on Jun 17, 2023 |
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Jun 17, 2023 08:59
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anonumos posted:"I need a hero to listen to me gripe while you fix my dishwasher for $5." i actually think nextdoor must be some kind of CIA/cop psyop
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Jun 17, 2023 09:11
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Homeless Friend posted:lol the reddit ceo looks like this found his mugshot  just kidding that's dahmer
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Jun 17, 2023 09:11
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Xaris posted:these would honestly be a breath of fresh air. seriously those are just like a week of notifications, completely uneditted and every single one is some form of "i heard a loud noise, is it a gun?? / i saw a black guy in a car / my car is stolen / MUGGED!". social media is the worst brain poison in terms of real "doomers" because it's just training everyone to be alienating and hate each other. goons are downright normal healthy well-adjusted good people in comparison to social media freaks Pretty sure it's a Peter Thiel joint
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Jun 17, 2023 10:14
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gradenko_2000 posted:What if we combined sports betting with crypto what if we then marketed that to college age students oh gently caress too late
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Jun 17, 2023 10:33
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quote:In September 2021, an official in Michigan State University’s athletic department sent an email to his boss with exciting news: An online betting company was willing to pay handsomely for the right to promote gambling at the university. 
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Jun 17, 2023 10:42
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Someone tell (former) Prince Harry.
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Jun 17, 2023 11:05
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BornAPoorBlkChild posted:Pretty sure it's a Peter Thiel joint Ah but you repeat yourself!
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Jun 17, 2023 11:56
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Ebola Roulette posted:That seems... low. It’s at least $80,000/year return in an index fund, that’s more than enough to live comfortably off of Probably not enough for a family but for one person with good financial literacy $2.2m cash is absolutely “never have to work again”
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Jun 17, 2023 13:04
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depends on your housing situation and medical I think
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Jun 17, 2023 13:06
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euphronius posted:depends on your housing situation and medical I think Sure if you have bad luck you can lose almost any sum of money $80,000/year free money is still comfy living in most parts of the country
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Jun 17, 2023 13:10
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If you had 2 million dollars you would have enough to move somewhere where healthcare isn't ruinous and still have basically 2 million dollars left over.
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Jun 17, 2023 13:16
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Huffing farts
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Jun 17, 2023 13:18
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gradenko_2000 posted:What if we combined sports betting with crypto I didn’t want to spoil it but I’ve got this project cooking where we are taking what works from the crypto sphere and the sports betting sphere and combining them with the power of the block chain to build a community experience centering on NFT adjacent gamified minting. Imagine watching your Detroit lions getting touchdowns and then also so does your crypto wallet. It’s mainly about community It’s about family
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Jun 17, 2023 13:23
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Egg Moron posted:I didn’t want to spoil it but I’ve got this project cooking where we are taking what works from the crypto sphere and the sports betting sphere and combining them with the power of the block chain to build a community experience centering on NFT adjacent gamified minting. thats great but my project does this and leverages AI to help guide betting
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Jun 17, 2023 13:28
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Ebola Roulette posted:That seems... low. If you had $2m invested and returned 6% per year, that would be $120k you could spend on living expenses without touching the principal. Not saying it's guaranteed to work out like that every year, but it's a realistic target amount for retirement.
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Jun 17, 2023 13:50
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UKJeff posted:It’s at least $80,000/year return in an index fund, that’s more than enough to live comfortably off of There are entire families living on less than $30k/yr. $80k puts you just above the average and 10k+ more than the median income. Median income by state or race is even worse, with black households in Mississippi making around a third the national median. $80k is more than a lot of families could ever hope for.
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Jun 17, 2023 13:51
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I think in America to be considered rich you need enough money to not be financially ruined by a health care emergency, developing an expensive medical condition or by requiring long-term care. Not to mention having adequate shelter + food etc. Amazingly $2 million doesn't seem quite enough to cover those kinds of potential expenses. Can you even buy a marketplace health plan that won't ruin you in the event of developing a serious medical condition requiring expensive treatment? edit: to be clear potential health care and long term care expenses aside, yes $2 million is rich.
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Jun 17, 2023 13:57
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Homeless Friend posted:lol the reddit ceo looks like this looks like a total bitch
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Jun 17, 2023 13:59
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Nocturtle posted:I think in America to be considered rich you need enough money to not be financially ruined by a health care emergency, developing an expensive medical condition or by requiring long-term care. Not to mention having adequate shelter + food etc. Amazingly $2 million doesn't seem quite enough to cover those kinds of potential expenses. Unfortunately, "independently wealthy" doesn't mean the same as it used to. There are so many pitfalls in American finances that even being a millionaire doesn't cushion the way it used to. Actual millionaires still feel the spector of disability breathing down their necks. $10 million might provide true security, but always at the whim of the people you hire to manage your investments. anonumos has issued a correction as of 14:03 on Jun 17, 2023 |
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Jun 17, 2023 14:01
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E4C85D38 posted:To the bookie, it doesn't matter what the true odds are as long as you have a balanced book with overround, which guarantees that you make money regardless of the outcome of the event. They'll dynamically change the offered odds to encourage/discourage action on whatever side is imbalanced. I don't think it happens anymore with the megasites, but one of the bits of the book Casino that they cut from the movie blew my mind: there was a network of bet "buyers" that retail-level bookies would sell their bets to at a slight discount, if that imbalance happened. The buyer would purchase from multiple bookies to get both sides of the bet covered and make a slight profit, which allowed the bookie to hedge theirs.
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Jun 17, 2023 14:06
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Skinnymansbeerbelly posted:I don't think it happens anymore with the megasites, but one of the bits of the book Casino that they cut from the movie blew my mind: there was a network of bet "buyers" that retail-level bookies would sell their bets to at a slight discount, if that imbalance happened. The buyer would purchase from multiple bookies to get both sides of the bet covered and make a slight profit, which allowed the bookie to hedge theirs. Lmao financial innovation in the gambling sector. In the 2040s a very unlikely superbowl outcome is going to take down the banking sector again
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Jun 17, 2023 14:10
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Acelerion posted:Lmao financial innovation in the gambling sector. In the 2040s a very unlikely superbowl outcome is going to take down the banking sector again 2040s? Try 2025.
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Jun 17, 2023 14:20
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teams from Vegas keep winning championships 
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Jun 17, 2023 14:28
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mycomancy posted:2040s? Try 2025. imagining the refs getting dragged to some dark storage room during halftime to be greeted by the treasury secretary with a signed emergency injunction ordering them to safeguard our systemically important banks
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Jun 17, 2023 14:31
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