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post #25951 of 60376
Quote:
Originally Posted by Van Veen View Post


I'm not familiar with BE, but if it's anything like Plato's Closet, they target the teens and 20s demographic. Hollister > Brioni to them. Stores like that are about turnover, not quality. They don't want stuff to sit on the racks.

... and apologies for the stereotype, but the buyers (at least at every Plato's I've been to) are mostly women in their 20s/early 30s and probably not familiar with higher end menswear-focused brands. Brooks Brothers = fuddy-duddy clothes for middle aged men.
Here's another good example... just picked up an A&B myself tagged at $10 where JAB suits were all $25.

 

Stereotypes are common because they often have a basis in fact.   Obviously, I am not suggesting that some really nasty stereotypes are accurate, fair, or should even be repeated. BUT, I think this one is pretty accurate and is not a negative stereotype.   My stepdaughter is 15 and likes Plato's a lot.  The times I have been in there I have observed exactly what you describe. 

post #25952 of 60376
Quote:
Originally Posted by Nataku View Post



Even if I win the lottery, I'll be digging in thrift stores, dingy basements and barns until I die. I just won't worry so much about spending that extra dollar or three. smile.gif

For me, most of the fun is in the hunt. The rest is in the provenance. Where it came from, what it was priced at, who had it before you, etc. It's one thing to find a Loro Piana cashmere vest for $200 at a consignment shop but it's more fun to find one in a Goodwill for $6.99 with a crazy flipper guy barreling down at you from the other end of the rack.

 

I would still be a thrifter, but if I win several hundred million dollars even after taxes, I'm pretty sure my thrifting would involve buildings.   You have to put that money somewhere.  

 

The amazing thing is the number of winners that go broke in no time.   There was a story on last night about a guy who won over $315 million.  In three years, he lost it all to theft, drugs, and gambling.  How the hell does that happen.    $315 Million is about $189,000,000 after taxes depending on what state he was in.  Even if you went insane and spent $50 Million, you would have $139 Million left!  

 

When I was in College I worked at Dillon's grocery store (a regional chain owned by Kroger).   There was a couple that both worked there.   He worked in the meat department and she was a checker.   He won the state lottery of $2.4 million and decided to take the payout over 25 years.   The got about $58,000 a year after taxes from the win.  The first year, they bought a new truck and paid off some debt.  The following year, they paid off their house.   Both continued to work at the grocery store.  Instead of going nuts, they had no debt, great savings account and a new truck every few years.  I understand $60,000 a year isn't hundreds of millions of dollars, but they sure looked smart doing it that way.  

post #25953 of 60376
Quote:
Originally Posted by Nobleprofessor View Post
 

 

Stereotypes are common because they often have a basis in fact.   Obviously, I am not suggesting that some really nasty stereotypes are accurate, fair, or should even be repeated. BUT, I think this one is pretty accurate and is not a negative stereotype.   My stepdaughter is 15 and likes Plato's a lot.  The times I have been in there I have observed exactly what you describe. 


As a 43 year old, I raise a few eyebrows when I walk into our local Plato's. Most of the workers in our two local locations now know that I am a flipper and the eyebrow raising takes on a whole new meaning. At first, the gesture seemed to indicate, "What are you doing in here, old man?" Now, the workers approach me and show me various items that they think I might like. Recent Plato purchases include several pieces of Arc'teryx for $10-15 each and a pair of Alden LHS for $20. It is decidedly more expensive than thrift but, on average, you get a product that is in great condition.

post #25954 of 60376
Quote:
Originally Posted by My Main Man View Post
 

Also, the David Bowie news has been hitting me kind of hard this morning. If anyone here has never really listened to Ziggy Stardust, Hunky Dory, Low, Young Americans, etc., type 'David Bowie style' into google image search and hit play on just flip through pictures for a while. The world lost such an incredible being yesterday.

 

His new album is bizarre and phenomenal also. Glad he got one last full length out.

Blackstar is incredible. I dug into it the day it was released and have been looking forward to giving it some extended listenings. 

 

Producer kind of confirmed it was a goodbye album and everybody around him knew something was close. I heard a snippet about Bowie this morning as I got in the car, and I thought it was just a feature-ish piece on Blackstar. Then it turned out it was an obit.

post #25955 of 60376
These guys/girls seem to go broke the same way that professional athletes go broke. It's impossible to spend that much money on yourself, but every single person you've ever encountered in your life comes out of the woodwork and wants you to invest in their project, buy them something, help them out etc...

There is a decent hall of fame reddit that's been kicking around again about this.

https://www.reddit.com/r/AskReddit/comments/24vo34/whats_the_happiest_5word_sentence_you_could_hear/chb4v05?context=3
post #25956 of 60376
Quote:
Originally Posted by Nobleprofessor View Post
 

I understand $60,000 a year isn't hundreds of millions of dollars, but they sure looked smart doing it that way.  

 

I think common wisdom is, given that the person is disciplined, it's smarter to take the lump sum up front and let your investing take over. Obviously that is a lot more doable with a huge jackpot, but just saying.

 

I worked at a bank while I was in college and knew a dude who won the lottery twice. Not sure of the exact amount of his prizes, but one resulted in a $50k/yr annuity and the other was like $20k/yr. He and his wife both worked and lived a normal life.

 

He bought the tickets at the same gas station. Pretty cool.

post #25957 of 60376
Quote:
Originally Posted by dukedishin View Post
 

 

I think common wisdom is, given that the person is disciplined, it's smarter to take the lump sum up front and let your investing take over. Obviously that is a lot more doable with a huge jackpot, but just saying.

 

I worked at a bank while I was in college and knew a dude who won the lottery twice. Not sure of the exact amount of his prizes, but one resulted in a $50k/yr annuity and the other was like $20k/yr. He and his wife both worked and lived a normal life.

 

He bought the tickets at the same gas station. Pretty cool.

And with a $600 million lump sum ...

 

I don't want anybody else earning interest on that but me. Besides, I'd be more apt to do incredibly generous things if it all came at once, and that's what I would definitely want to do. Endow a char at the symphony, kick some money to some of the smaller arts programs around the city, kick some money to my undergrad and grad schools. 

post #25958 of 60376
Yea man, we really lost a great one today. I'd put him in my top 5 favorites of all time, not only for his music, but his contribution to art and fashion in general. On top of that, from what I've read, he was a genuinely nice and down to earth guy. Sad, sad day. "Knowledge comes with death's release", indeed.

On a lighter note, 2016 has been really, really good so far. It's like 3 degrees and snowing today, so I thought I'd start to tackle my backlog. Proper post incoming.
post #25959 of 60376

If I won, I'd probably take the long term payout too. I wouldn't work but I'd go to school to learn a few skills I would otherwise not afford to learn and invest time into and turn around and fund these crazy ideas while traveling until I die. ex. painting/engineering/directing/musician etc. all while occasionally thrifting cool shit.

post #25960 of 60376
Quote:
Originally Posted by eazye View Post

Yea man, we really lost a great one today. I'd put him in my top 5 favorites of all time, not only for his music, but his contribution to art and fashion in general. On top of that, from what I've read, he was a genuinely nice and down to earth guy. Sad, sad day. "Knowledge comes with death's release", indeed.

On a lighter note, 2016 has been really, really good so far. It's like 3 degrees and snowing today, so I thought I'd start to tackle my backlog. Proper post incoming.

 

Just send me all the 38S / M stuff.  That stuff never sells anyways.  :D

post #25961 of 60376
Re: lottery - wouldn't the smartest thing be to take the annuity, but sell the payment stream to a 3rd party? You'd get less than the full amount, but surely way more than if you took the lump sum from the lottery. And you'd get it immediately and be able to invest it yourself.
post #25962 of 60376
Quote:
Originally Posted by Orgetorix View Post

Re: lottery - wouldn't the smartest thing be to take the annuity, but sell the payment stream to a 3rd party? You'd get less than the full amount, but surely way more than if you took the lump sum from the lottery. And you'd get it immediately and be able to invest it yourself.

 

 

I'd definitely take the lump sum payment. Whether by selling the long-term payments or just the straight lump sum, it'd still be enough to comfortably live off of indefinitely.

 

My financial planner would love to invest huge amounts of money for me, I suspect.

 

As for changes? I wouldn't go too crazy. I'd probably buy a small place somewhere up in the Rockies near a ski area (one that also rocks in the summertime, of course!) to use as a vacation home. I'm certain we would travel more, and my wife could have more time to write the book she wants to write; though, knowing her, she'd still work at least part-time. I'd still hit thrift shops, but I would send stuff I didn't want for myself to consignors rather than doing it myself.

 

Oh, and I would have the engine in my Forester swapped for something STi worthy. Gotta have some fun on the way to Aspen, afterall!

post #25963 of 60376
Quote:
Originally Posted by Spruce Moose View Post
 

Window sounds cool Wes. Is there a thread that shows a tour? I'm all curious now

 

 

Lets see if this works....not too skilled on making youtube videos. Sorry about my heavy breathing, I had an asthma thing earlier and I should have waited a little longer once I hit my inhaler.

 

 


Edited by capnwes - 1/11/16 at 2:34pm
post #25964 of 60376
Quote:
Originally Posted by Orgetorix View Post

Re: lottery - wouldn't the smartest thing be to take the annuity, but sell the payment stream to a 3rd party? You'd get less than the full amount, but surely way more than if you took the lump sum from the lottery. And you'd get it immediately and be able to invest it yourself.


I thought about that. However, it has its own share of problems.

http://www.bankrate.com/finance/debt/want-settlement-cash-now-not-so-fast-1.aspx

post #25965 of 60376

LMAO @capnwes "The shaft is already in place... That's what she said."

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