Is the stock market going to tank?

**AdironRider** · 06-15-2021, 12:12 PM

Originally Posted by Timberridge

Que?

You and Benny sound like two broken down old guys at a bar. Then glademaster walks in and somehow by comparison you both are Tony Robbins.

Plenty of people go to state school and do just fine and live perfectly happy lives, but only on maybe a polo forum would there be more obtuse people that would try and justify having 1.1 million liquid investable assets at 40 as normal.

**Timberridge** · 06-15-2021, 12:12 PM

You both need to go for a bike ride.

500 people in the whole world? C'mon man.

**Mazderati** · 06-15-2021, 12:16 PM

Originally Posted by Benny Profane

No. Just not as lucky.

That's partly the point. It's the success paradox. It's the working stiff's version of Carlin's drivers analogy. Everyone more successful than you had it fall in their lap and everyone less successful is lazy.

**AdironRider** · 06-15-2021, 12:16 PM

Come on man, don't dig your hole deeper. There are only so many fortune 500 companies. And of those, there are maybe a handful of people who went to Eastern Iowa State (or equivalent) and rose to VP by 40 years old.

That was the example, and it is ludicrous.

**LeeLau** · 06-15-2021, 12:27 PM

Originally Posted by BobMc

Back to the stonk market... CLB was downgraded and price target lowered yesterday, sold a July 16 CC @45 for $3.25/per this morning. Up $105 on it already, gonna let it ride and be assigned or not. It's only paying a dividend of .04 annually, been wanting to move that into something higher yielding.

XOM will likely raise its dividend. My conviction remains high. Adding to core holdings by selling June 65P

**dunfree** · 06-15-2021, 12:27 PM

Originally Posted by californiagrown

and No ONE cares where you went to school when applying for that second job.

demonstrably untrue.

it’s the 1.1 million in liquid assets with high cost lifestyle additions (children) that’s the rub

**Timberridge** · 06-15-2021, 12:28 PM

Don't let Benny suck you in to his black hole of negativity.

**Benny Profane** · 06-15-2021, 12:33 PM

Yup. Think happy thoughts, and get rich!

**Benny Profane** · 06-15-2021, 12:35 PM

Originally Posted by dunfree

demonstrably untrue.

it’s the 1.1 million in liquid assets with high cost lifestyle additions (children) that’s the rub

Yeah, I didn't even go near that one. Kids. The most comfortable Boomers I know we're both working DINKs.

**californiagrown** · 06-15-2021, 01:02 PM

Originally Posted by dunfree

demonstrably untrue.

it’s the 1.1 million in liquid assets with high cost lifestyle additions (children) that’s the rub

the first part was admittedly hyperbole. The point was that the name on your diploma gives exponentially diminishing returns the further out from your graduation date that you get. Its job performance that becomes important (yes exceptions exist).

I dont think anyone was arguing that todd's situation was super common or the expected normal. Just that its not outrageous, or unobtainable if you play your cards over 20+ years intelligently, with discipline, and manage to avoid some bad luck along the way you could have 1.1mil in total investable assets. It doesnt take an ivy league degree or rich parents, and it sucks that is the kneejerk assumption. Financial success is a lot more possible than i feel like many of my liberal compatriots (and paradoxically the MAGA contingent) believe these days. Too much woe is me and blame-game, not enough competitive fire to succeed (as a general observation, not to say that some structural issues do not exist).

**AdironRider** · 06-15-2021, 01:17 PM

Someone should tell Yale their degree just isn't what it used to be.

While I agree there is a lot of woe is me negatively and that does not help, you at least need to set realistic goals to achieve / state. Work hard and play your cards right and sure you will be comfortable, but 1.1 liquid is a whole hell of a lot more than comfortable at 40 years old.

The Todd example without help from home or blind luck is .1% territory and if you don't know that you clearly didn't work for it.

**Benny Profane** · 06-15-2021, 01:24 PM

Originally Posted by californiagrown

the first part was admittedly hyperbole. The point was that the name on your diploma gives exponentially diminishing returns the further out from your graduation date that you get. Its job performance that becomes important (yes exceptions exist).

I dont think anyone was arguing that todd's situation was super common or the expected normal. Just that its not outrageous, or unobtainable if you play your cards over 20+ years intelligently, with discipline, and manage to avoid some bad luck along the way you could have 1.1mil in total investable assets. It doesnt take an ivy league degree or rich parents, and it sucks that is the kneejerk assumption. Financial success is a lot more possible than i feel like many of my liberal compatriots (and paradoxically the MAGA contingent) believe these days. Too much woe is me and blame-game, not enough competitive fire to succeed (as a general observation, not to say that some structural issues do not exist).

In other words, don't ski.

**rod9301** · 06-15-2021, 01:29 PM

I don't get why people go for a business undergraduate degree.

Real case. Boston, degree in business, got a material job out of college for 53ka year.

Engineering degree, 80k first job of of college.

Is it because a business degree is easier?

Sent from my Redmi Note 8 Pro using Tapatalk

**subtle plague** · 06-15-2021, 01:41 PM

Or maybe Todd chucked a few grand into GME back in July and cashed out in April?

Or maybe todd is exceptionally skilled at cocksucking while not being addicted to hard drugs. Et Voila!

**skaredshtles** · 06-15-2021, 01:46 PM

Originally Posted by rod9301

Is it because a business degree is easier?

Probably. Engineering wasn't even on my radar when i went to uni in '89. As in it never crossed my mind, from what I recall.

**sirbumpsalot** · 06-15-2021, 01:46 PM

Originally Posted by rod9301

I don't get why people go for a business undergraduate degree.

Real case. Boston, degree in business, got a material job out of college for 53ka year.

Engineering degree, 80k first job of of college.

Is it because a business degree is easier?

Sent from my Redmi Note 8 Pro using Tapatalk

Most people going for a business degree couldn't pass the "easier" engineering class. Heck...plenty of engineering students can't either....which is why they are "weed out" classes. I bet a lot of them switch to business.

**NWFlow** · 06-15-2021, 01:47 PM

Well, regardless, it's a funny meme.

**californiagrown** · 06-15-2021, 01:51 PM

Originally Posted by AdironRider

Someone should tell Yale their degree just isn't what it used to be.

While I agree there is a lot of woe is me negatively and that does not help, you at least need to set realistic goals to achieve / state. Work hard and play your cards right and sure you will be comfortable, but 1.1 liquid is a whole hell of a lot more than comfortable at 40 years old.

The Todd example without help from home or blind luck is .1% territory and if you don't know that you clearly didn't work for it.

IDK, todd looks mid 40s, with a wife about the same age. Is 500k in investable assets for todd alone more realistic for you? Because that is what is being said here- folks just keep glossing over the fact his wife was considered an equal financial contributor in all these examples (the horror!).

Also, the top 1% has a networth of 4.4mil. So, owning 1.1 "liquid" and lets say another 300k in RE equity, puts todd and wife around one third of what it would take to be in the 1% in their mid 40s. Again, not that outrageous, and certainly not close to 0.1% territory by any metric (he'd have to be earning around 2mil/yr to qualify based on income fyi).

**californiagrown** · 06-15-2021, 01:54 PM

Originally Posted by rod9301

I don't get why people go for a business undergraduate degree.

Real case. Boston, degree in business, got a material job out of college for 53ka year.

Engineering degree, 80k first job of of college.

Is it because a business degree is easier?

Sent from my Redmi Note 8 Pro using Tapatalk

I got an engineering degree, and didnt start making 80k till my 4th year in the industry after switching companies and talking my way into a position i was way underqualified for haha. We certainly do not hire graduates even close to 80k/yr here in the seattle area. You might want to specify which type of engineering youre talking about though haha. But yes, the dropouts from the first year of engineering undergrad either go to business or construction mgmt IME.

**m2711c** · 06-15-2021, 01:55 PM

todd is an imposter…

**sirbumpsalot** · 06-15-2021, 02:00 PM

Originally Posted by californiagrown

I got an engineering degree, and didnt start making 80k till my 4th year in the industry after switching companies and talking my way into a position i was way underqualified for haha. We certainly do not hire graduates even close to 80k/yr here in the seattle area. You might want to specify which type of engineering youre talking about haha. But yes, the dropouts from the first year of engineering undergrad either go to business or construction mgmt IME.

If you are an EE I can confirm $80K to $100K for a BS/MS out of school at any major company. More if you are a PhD or in the bay area or working FB/GOOG/APPL especially in bonus stock perks.

Could be more lately with job crunch...last I was in the know was 3-4 yrs ago.

**CovertM** · 06-15-2021, 02:02 PM

Haha, the Boomers are back to discuss how realistic a fucking meme is. Show me where Todd hurt you by theoretically having 1.1MM in passive etfs...

**californiagrown** · 06-15-2021, 02:03 PM

Originally Posted by sirbumpsalot

If you are an EE I can confirm $80K to $100K for a BS/MS out of school at any major company. More if you are a PhD or in the bay area or working FB/GOOG/APPL especially in bonus stock perks.

Could be more lately with job crunch...last I was in the know was 3-4 yrs ago.

Take two steps down the engineering intelligence ladder and you will arrive at my discipline, and its lowly pay scale haha.

**sirbumpsalot** · 06-15-2021, 02:07 PM

Originally Posted by californiagrown

Take two steps down the engineering intelligence ladder and you will arrive at my discipline, and its lowly pay scale haha.

Civil/Manufacturing Eng?

**AdironRider** · 06-15-2021, 02:08 PM

Originally Posted by californiagrown

IDK, todd looks mid 40s, with a wife about the same age. Is 500k in investable assets for todd alone more realistic for you? Because that is what is being said here- folks just keep glossing over the fact his wife was considered an equal financial contributor in all these examples (the horror!).

Also, the top 1% has a networth of 4.4mil. So, owning 1.1 "liquid" and lets say another 300k in RE equity, puts todd and wife around one third of what it would take to be in the 1% in their mid 40s. Again, not that outrageous, and certainly not close to 0.1% territory by any metric (he'd have to be earning around 2mil/yr to qualify based on income fyi).

And the top 1% of net worth individuals has an average age of? Hint, its almost 70.

Dude it is 100% outrageous to expect that as any sort of reality for 99.9% of people by 40 years old. Over half the country can't make it 3 weeks between paychecks at any age let alone 40.