Had to tap out at 14 seconds
2024 Election Lounge
- Thread starter Thomas More
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Had to tap out at 14 seconds
If you didn't read what I said and understand it... I can't help you. Many people use high yields savings accounts.
I agree with many people on a lot of things, but I think you're woefully incorrect here and your perception about wealth is just wrong.
I do agree that for a family, being in a leveraged position is bad.
I generally agree with the buy once cry once mentality. A fit for purpose of purchase is always ideal.
Having a boat is not significant wealth. Many people I know own boats and arent significantly wealthy. It's a hobby.
Maybe you've never been on a boat and are being confused with a yacht.
That said...Last I checked, you're not Dave fucking Ramsey... So I'd suggest toning down some* of the smug condescension...
Re: People who own boats...
Some comments:
* Boating is extremely popular for middle class. I see a lot inexpensive boats in my white middle class neighborhood as well as several of my relatives.
* Sailboat, in my opinion, is more expensive. Upper class income fits this group.
* Fishing boat is super popular for country and fishing folks. Knew a co-worker who taught fly fishing on the side where he owned two small fishing boats (i.e., one for lake fishing; other one for river fishing).
* My niece's husband bought a used boat. He fixed it up. They are not exactly rich, but they bought it cheap since they live by the lake.
Some comments:
* Boating is extremely popular for middle class. I see a lot inexpensive boats in my white middle class neighborhood as well as several of my relatives.
* Sailboat, in my opinion, is more expensive. Upper class income fits this group.
* Fishing boat is super popular for country and fishing folks. Knew a co-worker who taught fly fishing on the side where he owned two small fishing boats (i.e., one for lake fishing; other one for river fishing).
* My niece's husband bought a used boat. He fixed it up. They are not exactly rich, but they bought it cheap since they live by the lake.
Trust the experts right. Only Dave Ramsey can speak on wealth. What a toolish statement.
The irony of the biggest disagreer on this forum that always has something to say about everything telling me to tone it down. Come on man don't be a poor loser.
I'm not a loser big dog. I'm a winner in every sense of the word.
Again, you're not offering a substantive comment...only a personal attack about me being a contrarian.... Say whatever you want about me here on the forum, but you not getting my Dave Ramsey comment further emphasizes the point I'm making about commentary with out context.
Tons of people own boats and arent wealthy. Tons of people own cars and aren't wealthy. Many middle class people own them. Many people own RVs who aren't wealthy. Many people own 4 wheelers who aren't wealthy.
You're out of touch. Again, either you're thinking of a yacht or you don't know what you're talking about or are incredibly poor yourself and are speaking out of envy.
Of course anyone can speak about wealth, but if you don't think middle class people don't own boats I legitimately question what frame of reference you're working under.
Without any context of your point of view there's tons of prognostication and zero relatability.
I'm sorry but you completely lost all credibility on this topic right here, any topic about money for that matter. I don't say that you put you down but you couldn't be more wrong about something, expensive money doesn't help anyone. Rich or poor it doesn't matter, it stifles everything....nobody should be hoping for higher interest rates especially people with any kind of wealth.
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No you aren't listening to me Big Dog hahaha.
I said she made a good comment. People that are lucky enough to own boats shouldn't care about gas and food prices and if they are they are doing it wrong. I don't care what you say here. It's a luxury as is owning high end vehicles. I'm sure Dave Ramsey tells all the middle class "yo go buy a boat now". Moron.
Oh hey little Choppa's little sidekick is back. How ya doing?
High interest rates help pension funds. And I also believe banks. But pension funds 100% positively impacted. Government also wipe out a lot of deficit with inflation.
www.osler.com
With rising interest rates, companies with defined benefit (DB) pension plans may find themselves in the enviable position of having a large pension surplus. The reason for this, in short, is that DB pension plans have spent the past decade working to offset the impact of low interest rates. Lower interest rates lead DB pension plans to require greater up-front contributions to meet long-term obligations. Now that interest rates are increasing, this means that the DB pension liabilities would also decrease and may lead to an unexpected pension surplus.
I think people with assets like houses or stocks don´t really suffer as much from high rates as people who receive a salary. When inflation hits. You just raise rents. Stocks go up. Houses go up. It´s almost like a superclass that move money around. But you need to reach that class. And inflation widens the gap. There´s almost a different price for assets owners and salary receivers.
There´s always a tradeoff because the reality always balances itself. But there´s for a while a gap/faillure for some days/months/years in the balancing of things.
Rich/wealthy people count every penny. One guy I know he is very rich not wealthy. That guy probably has constant 5-10M liquidity.
He has a sentence:
"A cent is a cent". It means something like every cent counts. He is a retail business owner.
With rising interest rates, you may have a pension surplus and available options
An Osler blog looks at how rising interest rates may lead some companies with defined benefit pension plans to be in the enviable position of having a...
www.osler.com
With rising interest rates, companies with defined benefit (DB) pension plans may find themselves in the enviable position of having a large pension surplus. The reason for this, in short, is that DB pension plans have spent the past decade working to offset the impact of low interest rates. Lower interest rates lead DB pension plans to require greater up-front contributions to meet long-term obligations. Now that interest rates are increasing, this means that the DB pension liabilities would also decrease and may lead to an unexpected pension surplus.
I think people with assets like houses or stocks don´t really suffer as much from high rates as people who receive a salary. When inflation hits. You just raise rents. Stocks go up. Houses go up. It´s almost like a superclass that move money around. But you need to reach that class. And inflation widens the gap. There´s almost a different price for assets owners and salary receivers.
There´s always a tradeoff because the reality always balances itself. But there´s for a while a gap/faillure for some days/months/years in the balancing of things.
Rich/wealthy people count every penny. One guy I know he is very rich not wealthy. That guy probably has constant 5-10M liquidity.
He has a sentence:
"A cent is a cent". It means something like every cent counts. He is a retail business owner.
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Walz is all gas, alright...
You should listen and discuss things to understand not just to react.
Have you not even researched the cost of boats? Like someone else mentioned, there are tons in the $10-50k range. Nowhere near "high end vehicles", and closer to a typical middle-class investment into a hobby.
There is a wide gulf between living well beyond your means (i.e. nga rich) and not ordering a add-on shrimp skewer unless you have a fully-funded 6-month emergency fund that 99.8% of middle-class Americans live in. And most people understand that economics are important but so is life, so 'wasting' money on a boat or jetski or LSA plane or motorcycle or classic car or whatever that you genuinely enjoy and can enjoy with friends and family is more important to quality of life than earning another $1500 over the course of a year in a pension fund.
You're quite boring. At this point you're just name calling and have backed yourself into a corner and just have to double down.
Most people I know that own a boat aren't "lucky enough", they worked and bought it.
My uncle's a retired cop and he owns 2 boats. He's hardly well off at all.
My point in saying you ain't Dave Ramsey is that you're making some really silly prognostications and have zero context. Dave Ramsey says buy things you can afford, but still buy them.
Owning something nice outright doesn't make you well off and unconcerned with the interest rate and inflation.
This is quite literally one of the dumbest things I've heard stated on here when it comes to money.
Exactly. Totally out of touch.
"You're quite boring". "At this point you're just name calling."
You know you're just quite annoying.
You've missed the point on the whole thing. But you take one piece and run with it. Your other little sidekick Samseau here to save you.
Take it to PMs or write on his profile. Settle beefs elsewhere.