My educated guess on Net Worth of key posters

[SetofKs]

get a life nerds

[ErickAA]

If you think my loans are bad (they are) you should see hers (they are worse). Her loans are basically a home mortgage, except after 30 years she will be at 0 instead of owning a house that has been appreciating.

I'm curious... how old are you?

I always thought you were around the same age as me. Is that correct?

A little younger (but not much). Was in college during the poker boom in the early 2000s.

[Dan Druff]

I thought you posted that your wife is a doctor.

How do you have negative net worth?

If you think my loans are bad (they are) you should see hers (they are worse). Her loans are basically a home mortgage, except after 30 years she will be at 0 instead of owning a house that has been appreciating.

Also I am still wondering how your wife can be so much in the hole, unless she's fairly young and just began her career.

While I'm sure the loans she took are substantial, shouldn't a doctor be making enough to pay them down fairly quickly?

I have a friend who is a doctor and is in private practice, and the guy is balling. His parents paid for his education, but even had he taken loans, he would have been able to have paid them off many times over. He's not in any super-lucrative specialty, either.

[ErickAA]

get a life nerds

Cant. Too nervous from this basketball game. When I am nervous I post. Don't even have any action on it. But Game 7 and all that.

[Dan Druff]

I'm curious... how old are you?

I always thought you were around the same age as me. Is that correct?

A little younger (but not much). Was in college during the poker boom in the early 2000s.

If you were in college in the 2000s, you're more than a little bit younger, unless you entered late or took a long time to finish.

I entered college in 1990.

[SetofKs]

get a life nerds

Cant. Too nervous from this basketball game. When I am nervous I post. Don't even have any action on it. But Game 7 and all that.

Which team are you a fan of? I hope the Warriors win, I guess. Not a warriors fan at all, but can't stand Harden.

[ErickAA]

If you think my loans are bad (they are) you should see hers (they are worse). Her loans are basically a home mortgage, except after 30 years she will be at 0 instead of owning a house that has been appreciating.

Also I am still wondering how your wife can be so much in the hole, unless she's fairly young and just began her career.

While I'm sure the loans she took are substantial, shouldn't a doctor be making enough to pay them down fairly quickly?

I have a friend who is a doctor and is in private practice, and the guy is balling. His parents paid for his education, but even had he taken loans, he would have been able to have paid them off many times over. He's not in any super-lucrative specialty, either.

She hasn't been working that long. That being said, I think you underestimate how much borrowing mid 6 figures puts you in the hole. And remember, you end up paying back a lot more than you even borrowed due to interest.

Also, maybe your friends parents also payed the down payment on his first house? Having to rent because you can't come up with a 6 figure down payment is another big money suck that people that come from money don't realize.

[SetofKs]

I should be watching the hockey game. I care way more about that than this basketball game, but here I am watching basketball. I'll catch overtime of the hockey team. I'm a Golden Knights fan, like everybody else.

[ErickAA]

Cant. Too nervous from this basketball game. When I am nervous I post. Don't even have any action on it. But Game 7 and all that.

Which team are you a fan of? I hope the Warriors win, I guess. Not a warriors fan at all, but can't stand Harden.

Yeah. Pretty much the same. My son is a big Warriors homer too. All the older kids at his school are Warrior fans (This is what happens in LA when the LOL Lakers suck for this long) and he pretty much is just bandwagoning.

[Dan Druff]

Also I am still wondering how your wife can be so much in the hole, unless she's fairly young and just began her career.

While I'm sure the loans she took are substantial, shouldn't a doctor be making enough to pay them down fairly quickly?

I have a friend who is a doctor and is in private practice, and the guy is balling. His parents paid for his education, but even had he taken loans, he would have been able to have paid them off many times over. He's not in any super-lucrative specialty, either.

She hasn't been working that long. That being said, I think you underestimate how much borrowing mid 6 figures puts you in the hole. And remember, you end up paying back a lot more than you even borrowed due to interest.

Also, maybe your friends parents also payed the down payment on his first house? Having to rent because you can't come up with a 6 figure down payment is another big money suck that people that come from money don't realize.

MY friend bought his house and everything else on his own, though obviously it was a nice boost to not be burdened by education loans.

He got a divorce recently and it cost him a shitload of $, but that's a different story.

I realize that your wife probably owes a lot of money between the principal and interest, but I just figured that any doctor practicing awhile would have long paid that off.

[ErickAA]

She hasn't been working that long. That being said, I think you underestimate how much borrowing mid 6 figures puts you in the hole. And remember, you end up paying back a lot more than you even borrowed due to interest.

Also, maybe your friends parents also payed the down payment on his first house? Having to rent because you can't come up with a 6 figure down payment is another big money suck that people that come from money don't realize.

MY friend bought his house and everything else on his own, though obviously it was a nice boost to not be burdened by education loans.

He got a divorce recently and it cost him a shitload of $, but that's a different story.

I realize that your wife probably owes a lot of money between the principal and interest, but I just figured that any doctor practicing awhile would have long paid that off.

I have loans too. If it was just her and I (my parents) had paid my way all the way through we would maybe be in the black already. It's fine. A lot of hard working Americans (including college grads) are going to live their whole life and die in debt. We will at least eventually dig out way out. Cant complain.

[peter mcneil]

MY friend bought his house and everything else on his own, though obviously it was a nice boost to not be burdened by education loans.

He got a divorce recently and it cost him a shitload of $, but that's a different story.

I realize that your wife probably owes a lot of money between the principal and interest, but I just figured that any doctor practicing awhile would have long paid that off.

I have loans too. If it was just her and I (my parents) had paid my way all the way through we would maybe be in the black already. It's fine. A lot of hard working Americans (including college grads) are going to live their whole life and die in debt. We will at least eventually dig out way out. Cant complain.

What kind of doctor is your wife? My sister left med school with nearly 250k in loans and paid it off in a few years. Is your wife a GP?

[sonatine]

the sexism behind her ostracism was both predictable and stomach turning.

splitthis: You are fucking kidding right goddamn fuck shot

if a random dude stepped to you like that, the most popular topic for a week would be whose dupe it was.

the simple truth is that for anyone but the most established made nigga women, posting here is an emotional death sentence.

two finger shout out to beebs i see you dawg.

splitthis: Ya fot fucked in the head by pussy, u aint thinking str8, wrong.

youre probably right.

[Bootsy Collins]

[ErickAA]

Well, this thread took a weird turn. I blame basketball watching mania. Anyways, I don't really want to get too much into my personal finances. We borrowed a lot of money, live a pretty good life in a very expensive area of the country, and still owe a lot. It isn't exactly an unusual circumstance. It is fine. Just the cost of the choices we make. Could be worse.

[Sanlmar]

Well, this thread took a weird turn. I blame basketball watching mania. Anyways, I don't really want to get too much into my personal finances. We borrowed a lot of money, live a pretty good life in a very expensive area of the country, and still owe a lot. It isn't exactly an unusual circumstance. It is fine. Just the cost of the choices we make. Could be worse.

I guess we are talking about the idle rich in this thread.

But what if:

A bank gave you $10 million dollar loan on an existing business and you cleared $500,000 annually after debt service and expenses

Further, you spent the $500k every year. You’re also running every imagineable personal expense through the business like cars, phones & what have you

Maybe the business has a hidden appreciating asset like land and you really don’t give a fuck about paying the debt down

I guess you have a negative net worth but you are quite comfortable, thank you

You and your wife are spinning far better income off your debt than this example.

Debt is great. Without it you’re making frappuccinos and taking anti bias training this afternoon .

[ErickAA]

Debt is great. Without it you’re making frappuccinos and taking anti bias training this afternoon .

Fair enough, you are kind of arguing that debt is a feature of the system, not a bug that needs to be fixed.

[hongkonger]

Well, this thread took a weird turn. I blame basketball watching mania. Anyways, I don't really want to get too much into my personal finances. We borrowed a lot of money, live a pretty good life in a very expensive area of the country, and still owe a lot. It isn't exactly an unusual circumstance. It is fine. Just the cost of the choices we make. Could be worse.

I guess we are talking about the idle rich in this thread.

But what if:

A bank gave you $10 million dollar loan on an existing business and you cleared $500,000 annually after debt service and expenses

Further, you spent the $500k every year. You’re also running every imagineable personal expense through the business like cars, phones & what have you

Maybe the business has a hidden appreciating asset like land and you really don’t give a fuck about paying the debt down

I guess you have a negative net worth but you are quite comfortable, thank you

You and your wife are spinning far better income off your debt than this example.

Debt is great. Without it you’re making frappuccinos and taking anti bias training this afternoon .

Debt is good if it helps you build an asset, especially an income producing asset, or investing in something else like an education. It's not good if you are using it to buy the frappucinos being made by other debtors, as so many Americans seem to be doing.

[Sanlmar]

Debt is great. Without it you’re making frappuccinos and taking anti bias training this afternoon .

Fair enough, you are kind of arguing that debt is a feature of the system, not a bug that needs to be fixed.

Income is more important than net worth.

Tiago has a lawnmower, a leaf blower, a rake and a 15 yr old truck. He’s illegal so he has no loans or credit card debt and saves a few pesos but his children live on rice and beans

Edwardo took a loan and bought a couple of skags, a leaf vacuum with a 12” nozzle that blows into his stakebed F250, and a chipper.

Edwardo is looking to hire more guys and has a lawsuit pending with the local country club which won’t accept his application for unspecified reasons

Edwardo has a negative net worth but far greater income. His children eat steak. His Mercedes has his company name tastefully lettered on the side and commercial plates.

Another flawed thread.

[Draymond]

Fair enough, you are kind of arguing that debt is a feature of the system, not a bug that needs to be fixed.

Income is more important than net worth.

Tiago has a lawnmower, a leaf blower, a rake and a 15 yr old truck. He’s illegal so he has no loans or credit card debt and saves a few pesos but his children live on rice and beans

Edwardo took a loan and bought a couple of skags, a leaf vacuum with a 12” nozzle that blows into his stakebed F250, and a chipper.

Edwardo is looking to hire more guys and has a lawsuit pending with the local country club which won’t accept his application for unspecified reasons

Edwardo has a negative net worth but far greater income. His children eat steak. His Mercedes has his company name tastefully lettered on the side and commercial plates.

Another flawed thread.

That is a bunch of shit. It's about cash in the bank, no debt and sleeping well at night.

I have over $400,000 cash, stocks, bonds and unlike Jorge I don't need a lawnmower because someone cuts it for me. Get your head out of a text book and welcome to the real world. There is always a Donald Trump every now and again who can parlay temporary debt into long term riches. 99.9% drown in debt and get divorced over it, are miserable over it, and commit crimes over it.

Get out of theory and back into real life. Nice child's story though.