Official September Thread: General Discussion, whining .. etc

[jalexand42]

Also, in regard to 100k/year. LOL @ anyone thinking that's not a great income for _ANYWHERE_ is crazy.

Qualifying my statement: Even in NYC, $100k is vastly above the average. Obviously if you are in Martha's vineyard, it would not be.

I also want to have residual income much greater than $100k/year, but you are really kidding yourself if you don't think $100k/year (without debt) isn't a very comfortable life. Those of you that are young will learn money won't make you happy. Lack of money can certainly make you miserable however.

[trplthrt]

I am running so bad right now.. MAKE IT STOP

[PerDoom]

Teach me how to invest and i'll teach you how to run good

[Ship Ship McGipp]

i can only teach people how to play good. 300/hr, pm for details, currently specializing in hu play

[Jay Riall]

Some of the people in this thread are in a fantasy world. $100k/y is not considered enough to make you happy/do what you want? Do you realize how shallow (let alone out of touch with reality) that makes you? You can do a hell of a lot with $100k a year, and I feel sorry for you if you think having a big house/big TV/expensive car is going to make you that much happier. There is nothing wrong with drive, but setting monetary goals as the be all and end all is pretty pathetic.

'Those of you that are young will learn money won't make you happy. Lack of money can certainly make you miserable however.'

This is a wise man.

[ImsaKidd]

PokerStars Game #12306590637: Hold'em No Limit ($5/$10) - 2007/09/27 - 19:29:05 (ET)
Table 'Teucer II' 6-max Seat #5 is the button
Seat 1: EmpireMaker2 ($1948 in chips)
Seat 2: 20 Buck Spin ($1749 in chips)
Seat 3: logo64 ($1039 in chips)
Seat 4: IMSAKIDD ($275 in chips)
Seat 5: gambler2k4 ($1568 in chips)
Seat 6: DerekJC9954 ($990 in chips)
DerekJC9954: posts small blind $5
EmpireMaker2: posts big blind $10
*** HOLE CARDS ***
Dealt to EmpireMaker2 [2s Js]
20 Buck Spin: folds
logo64: folds
IMSAKIDD: raises $15 to $25
gambler2k4: calls $25
DerekJC9954: calls $20
EmpireMaker2: raises $115 to $140
IMSAKIDD: raises $135 to $275 and is all-in
gambler2k4: folds
DerekJC9954: folds
EmpireMaker2: calls $135
*** FLOP *** [5c 8s 9d]
*** TURN *** [5c 8s 9d] [2h]
*** RIVER *** [5c 8s 9d 2h] [9c]
*** SHOW DOWN ***
EmpireMaker2: shows [2s Js] (two pair, Nines and Deuces)
IMSAKIDD: mucks hand
EmpireMaker2 collected $597 from pot
*** SUMMARY ***
Total pot $600 | Rake $3
Board [5c 8s 9d 2h 9c]
Seat 1: EmpireMaker2 (big blind) showed [2s Js] and won ($597) with two pair, Nines and Deuces
Seat 2: 20 Buck Spin folded before Flop (didn't bet)
Seat 3: logo64 folded before Flop (didn't bet)
Seat 4: IMSAKIDD mucked [Kc Ah]

[Jeffmet3]

[ QUOTE ]

I know what you're trying to say and I don't think you are coming off as a d-bag or anything. In South Florida with a 600k house and a family, yeah I can bet $100k probably isn't enough. But in most parts of America, you can get by with $100k very very easily. I think that I could raise a family with $100k a year and be very well off personally. Of course more is always better, but nobody was arguing against that. If my parents could make $30-40k a year work, then I'm sure with $100k a year I could give my family plenty of luxuries and live a very privileged life. I don't think I'm being overly optimistic, either.

[/ QUOTE ]

the thing is people have different perspectives based on what they've experienced.

However, because you could live off of 100k a year now, does not mean that you can live off of 100k in 10 years from now.

Being very conservative, inflation will grow at 3% a year. Your 100k a year will not be growing at all. Thus, by computing the present value of $100,000 10 years in the future with a 3% inflation rate, your 100k will have the buying power of $74,409. In 20 years, it will be $55,367.

So as you get older, when most people will be enterring their prime earning years, you will be dwindling.

Then, this 100k a year is only assuming that you never buy something that eats into the principle.

Lastly, the divide that is forming in opinion is largely based on where people are from. For people living in larger cities or their suburbs, a dollar doesn't go nearly as far.

Then, when you add in purchases such as cars, a house, $40k a year for a child's college education, spending a ton of money on a wedding, vacations, camps, etc. At least I know that I wouldn't want to be constrained to living and raising a family on $100k a year long-term, but things are different for different people.


[ QUOTE ]
Some of the people in this thread are in a fantasy world. $100k/y is not considered enough to make you happy/do what you want? Do you realize how shallow (let alone out of touch with reality) that makes you? You can do a hell of a lot with $100k a year, and I feel sorry for you if you think having a big house/big TV/expensive car is going to make you that much happier. There is nothing wrong with drive, but setting monetary goals as the be all and end all is pretty pathetic.

[/ QUOTE ]

as i said, it depends, but to be honest, i could easily explain how to spend $100k a on a family.

[Melchiades]

That will teach you to not sit so deep.

[Ship Ship McGipp]

jesus i bet em2 was happy

hi five em2, well done

[Jay Riall]

[ QUOTE ]
$40k a year for a child's college education

[/ QUOTE ]

Holy crap it really costs this much? Students in England kicked up a massive fuss when the cost of tuition in Universities in the UK went up from $2k/y to $6k/y. And this is not just the crappy ones - you could go to Oxford for Cambridge for this much.