would you give a friend 200K if it would save his life?

[Kaizen]

Save his life, yes. Save his lifestyle, no.

I say that as someone who has been in that situation (unfortunately, not on the $100 million side). Even at my lowest point, I knew that I was in my situation due to my actions, and it was my responsibility to deal with it.

 

[justsayno]

Originally Posted by globetrotter

my wife is active on a board called UB. there was a discussion today: guy works in finance, looses job, goes $200K in debt. a very good friend who he has known all his life has net worth of $100 mil. the wife thinks the first guy should ask the friend for help. question is, if you had $100 mil net worth, would you give a friend $200K to get him out of the whole. side issues, maybe this guy fucked up to get where he is. declaring personal bankrupcy means he can't work in his field again.

my wife asked me, and my first thought was "yes, no issue". if somebody asked me for 25% of my net worth now, in those circomstances, I 'd give it. but I am not a high net worth individual. people don't really ask me for money, and I don't have to worry about protecting a fortune for my kids.

what do you think?
just thought i'd add
25% of 100M = 25M
200k of 100M = 0.2%

 

[WestIndianArchie]

If it's good enough for Bear Stearns.....

 

[LabelKing]

To get my money, get me a colossal squid first.

 

[SkinnyGoomba]

Originally Posted by tiecollector

a guy name Raul "El Padre" Cajones,.


LOL....my thoughts were this.....if it was a kidney or something like that....HELL YES!.

If the guy is just a financial numb nuts, then i'd probably loan him the money at 25% and ask your friend up there to collect for me, and pay him 10%.


Hows that sound??

Money and friends are tough to mix, i never accept IOU's, infact i never lend money.

The only person i think i would just give money to outright is my mom, and i'd never accept it if she tried to repay.

 

[JoeWoah]

If I had that kind of net worth, yes. This, after all, is your friend and not some random person. I've had friends who've made some bad choices and I've helped them out. Sure, not to that degree, but percentage-wise it was probably higher.

 

[whnay.]

Had this situation occur recently, obviously not at this magnitude but close considering this guy's average gross salary. I turned him down, he ran up a debt on booze, bitches, and other **** when he knew better. Saving him from himself when he isn't married and doesn't have kids would be a bad idea. So I left it alone...

 

[Arethusa]

Originally Posted by whodini

Rats. Probably for the best, anyway. Tax season does get pretty expensive, what with my other clothing and high-end audio purchases.
Hey, at least you didn't work for a marketing startup. But these cable elevators weren't going to pay for themselves.

 

[whodini]

Originally Posted by Arethusa

Hey, at least you didn't work for a marketing startup. But these cable elevators weren't going to pay for themselves.
Sure must be nice owning your own business and all...

 

[iridium7777]

never. money and friends don't mix, even best friends.

if it was an easy thing for me to do, i'd consider putting some money away for his kid's college. it's not their fault the dad is a f-up.

but then again, with that much money there could be a lot more worthy causes with really needy people to donate to. so probably not all together.

 

[rdawson808]

Originally Posted by justsayno

just thought i'd add
25% of 100M = 25M
200k of 100M = 0.2%

I do believe that GT was using hyperbole to emphasize his point. Hell, he'd give 25% of his net worth, if it were that high. But it's not.

b

 

[gdl203]

Originally Posted by iridium7777

never. money and friends don't mix, even best friends.

I don't understand all these statements... I've helped friends who needed money before and I was always very happy to help them. I give money to charity to help people I never met, so why couldn't I loan money to someone who is dear to me? As far as I'm concerned, whenever I've lended money to close friends, I've always considered it as a quasi-gift/charitable donation - i.e. if the money comes back, even better, but I don't count on it or stress about it. Of course, the amount is important, one should help within one's means, i.e. not with sums that would strain your own financial situation

 

[Toiletduck]

200k buys an awful lot of shoes...

 

[globetrotter]

Originally Posted by rdawson808

I do believe that GT was using hyperbole to emphasize his point. Hell, he'd give 25% of his net worth, if it were that high. But it's not.

b

thank you, I was avoiding responsing to the suggestion that my math skills were so poor.

frankly, if somebody asked for .2% of my net worth, I could probrably, literally, pull it out of my pants pocket. that would be no question.

 

[iridium7777]

people get weird about money. perhaps you've had better friends, but i've noticed a "money" friend and as good of a friend that person was there's a constant need of help.

perhaps just because i'm actually dealing with a money/friend situation i look at it differently.

Originally Posted by gdl203

I don't understand all these statements... I've helped friends who needed money before and I was always very happy to help them.