Random fashion thoughts - Part II (A New Hope)

Discussion in 'Streetwear and Denim' started by LA Guy, May 15, 2015.

  1. Gruff

    Gruff Senior member

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    But really, what's "fuck you rich?" Say you've got enough stashed in a Vanguard S&P 500 passive index fund to draw on average 100k a year without lifting a finger, and you own your house free and clear. That's technically "fuck you" money because you don't need to work to draw an income that many people would love to have and the house is already paid off so the bank can't take your home away.

    Sure, it's definitely not 1% status and many things, like education for your kids, still takes planning. But it'd sure as shit be nice to not have to take orders from someone and also not have the possibility of foreclosure. I could do without true 1% street cred if I could achieve that just that level.

    Yes, I know the fatal flaw is amassing enough investment stock in the first place to get the 100k passive income while paying off your house, but I'm just saying that different people have different calculations of freedom.
     


  2. LA Guy

    LA Guy Opposite Santa Staff Member Admin Moderator

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    So, in order to do that, assuming a 5% (on average) rate of return, and assuming that you take just 2.5% out every year so that you don't draw down your investment, that's $4MM in the bank. I would say that for most people, that's non-trivial. Also, you still have to pay taxes in your house.

    Also, not having to take orders from people often means that you have have to negotiate with people and manage people, which, ime, can be pretty stressful.
     


  3. robinsongreen68

    robinsongreen68 Senior member

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    i had a meeting with a multi-billionaire a while back (taxi drove around the block in central london for a while as we searched for the house until i realised.. the whole block was the house). he ended up complaining how difficult it was managing employees and in particular dealing with all the household staff. i asked if it wasn't possible to do without them for a few days. he seemed to consider it for a moment before sadly replying: "Do you know.. I don't think it is.".
     
    Last edited: Sep 22, 2015


  4. Gruff

    Gruff Senior member

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    D'oh, forgot about the taxes (property, federal and state income, capital gains, etc).
     


  5. nahneun

    nahneun Uncle Nephew

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    I love Fascinate. I pretty much shop there exclusively at this point ~_~;;
     


  6. GoldenTribe

    GoldenTribe Senior member

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    You need a big staff to take care of a big property. But it is possible to have a big bank account without a big property or any of the trappings that come with it.


    RFT #1 - When somebody makes a "CPO shirt" what is the acronym short for?


    RFT #2 - Would it be fun or at all useful to have a "rip-offs" [or "precedents"] thread?

    Carven fw12, $1,095

    [​IMG]


    Incotex fw15, $1,115

    [​IMG]
     
    Last edited: Sep 22, 2015


  7. Biggskip

    Biggskip Senior member

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    The thread would be dominated by photos from iOffer and Shades of Grey by Micah Cohen.
     


  8. LA Guy

    LA Guy Opposite Santa Staff Member Admin Moderator

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    There are two possible explanations for that:

    1:
    [​IMG]
    2:52 No need to worry my accountant handles that.

    2. I am a smalltimer.
     


  9. cyc wid it

    cyc wid it Senior member

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    [​IMG]

    Intense
     
    Last edited: Sep 22, 2015


  10. LA Guy

    LA Guy Opposite Santa Staff Member Admin Moderator

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    For me? That's so thoughtful. Bring it when I am in San Francisco again. I'll feed you a burrito.
     


  11. Find Finn

    Find Finn Senior member

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    The guy who owned A.P. Møller and Mærsk (Mærsk Mc-Kinney Møller), had an estimated net worth above 20 billion dollars, he lived in a 7000 sq.ft. bungalow, valued at around 4 million dollars, so you can if you want.
     


  12. Gruff

    Gruff Senior member

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    Would like to claim 1, but reality says 2.
     


  13. shoreman1782

    shoreman1782 Senior member

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    [​IMG]
     


  14. chupas

    chupas Senior member

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    Are you familiar with the term "anecdata"?
     


  15. Superb0bo

    Superb0bo Senior member

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