Random Chat, Thoughts, Posts, and/or Rants Thread

[MoneyDoc]

Make sure you call/visit your closest ones. The regret can ruin you.

 

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[loop101]

I guess these two guys are driving around Canada stabbing people to death.

10 dead, 15 injured after stabbing spree in Canada, 2 suspects at large

At least 10 people are dead and 15 more have been hospitalized after two men went on a stabbing spree across Saskatchewan, Canada on Sunday, cops said as they searched for the killers.

nypost.com

 

[DuncDad]

And that's *really* the important bit. Knowledge. Learning how to make money and learning how to keep it are equally important. It's much easier to become wealthy by not handing over a big chunk of income to the government.

Whenever I ask someone who complains about high taxes: "How much time have you spent learning how to reduce taxes?", it's always dead silence. I'm only familiar with minimizing US taxes, but am reasonably sure from talking with other Canadian entrepreneurs that there's numerous ways to accomplish the same thing. Earning money as a salaried employee (W2 income) is the worst possible approach when it comes to taxation.

One of my good friends banked $1M in salaried compensation last year. Only W2 person I know making that much. He'll pay 45% - 55% in overall taxes. Maybe a bit more. He's one of the smartest people I know, but an idiot when it comes to keeping his money out of the government's hands. He relies on advice from W2 earning tax planners who are also idiots.

Another friend is a real estate investor with far more than $1M in equity. None of which is taxable until the properties are sold. He can borrow against the equity and pay 0% taxes on the cash taken out because it's not considered income. It's a loan. There's depreciation to offset positive cashflow (earnings) from other investments. There's tax free 1031 Exchanges into larger investment properties. And so on.

Most CPAs know little that's really helpful. Search Amazon for "tax loopholes" and go from there.

Hi Chris,
you are right, it's a similar process here in Australia. I reckon keep residential investment properties at about 25% equity, 75% loan, do the math to make sure your rental income covers the interest and expenses, and refinance to the same level about every 7-10 years depending on the market forces.
Equity released as a loan/debt, no taxes!
Set it all up in a proper entity and it passes to your kids easily when you go. NEVER pay off the loans. The banks will love you.

 

[GPM]

I like year round Christmas lights. Every time I drive at night and I see them they make me happy. I wish more people put and left lights up.

 

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[Xeon]

The new apps trying to become Facebook killers

Social media giants such as Facebook and Twitter are about to face the disruptive force of block-chain based alternatives.

uk.finance.yahoo.com

 

[Mathuin]

https://twitter.com/i/web/status/1566531231923245061

View: https://twitter.com/vanschneider/status/1566531231923245061?s=20&t=L4R5Y5vpvW6rIGnu-gfT8Q

 

[Antifragile]

I like year round Christmas lights. Every time I drive at night and I see them they make me happy. I wish more people put and left lights up.

But then you’d call them just lights…

 

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[GPM]

But then you’d call them just lights…

I like year round lights up on the eavestrough of houses! It brings a nice cheer and happyness to the streets.

 

[Saad Khan]

If anybody tries telling you selling on Amazon is easy, they are doing one of two things:

1. Trying to sell you a course
2. Lying

 

[Xeon]

Instagram fined ~$403M in EU over children's privacy

A fat fine -- of €405 million -- is headed Instagram's way after European Union privacy regulators came to a decision on a long-running complaint related

techcrunch.com

 

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[MJ DeMarco]

Not sure who is more upset, CNN's employees, or their 72 viewers.

 

[doster.zach]

 

[doster.zach]

There are two types of people in this world:

1. People who “get” Labor Day off.

2. People who *decide* to take it off.

 

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[GPM]

"Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink." — Ludwig von Mises

 

[BigRomeDawg]

Just found out we made and posted over 300 videos in month 1 of my new video editing company. I'm loving the data I'm getting from running this many channels. It's like I got a year of experience in 30 days.

 

[Antifragile]

No influencers, no filters – BeReal shows the beauty of the lives we actually lead | Jess Cartner-Morley

The beauty of the app is that you never know when it’s going to ask for a simultaneous selfie and photo, says Jess Cartner-Morley, the Guardian’s associate editor (fashion)

www.theguardian.com

I wonder what’s next? Meeting real people, in real life, at a bar? Preposterous!

 

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[Private Witt]

I wonder what’s next? Meeting real people, in real life, at a bar? Preposterous!

I'm not a bar person anymore but randomly was dragged last week to a craphole dive bar at 10 am on a Wednesday morning and met like 15 opposite people, played some pool, had a blast, it was quite the experience I can maybe do once a year.

 

[Two Dog]

View attachment 44975
View attachment 44976

My thermostat has no idea where to even start looking for 78 degrees.

 

[GPM]

I just watched the Elvis movie. These shows break my heart every time. Everytime there is a star is seems there are leaches just waiting to suck them dry. Much like when you hear about realtives that no one even knows about calling you up if they discover you won the lottery.

 

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[MitchC]

I just watched the Elvis movie. These shows break my heart every time. Everytime there is a star is seems there are leaches just waiting to suck them dry. Much like when you hear about realtives that no one even knows about calling you up if they discover you won the lottery.

It amazes how many there seem to be in everyday life, you don't even need to be rich or famous, they'll do it for $100

People stealing from their grandparents and stuff like that

 

[loop101]

I wonder what is wrong with his house:

View attachment 44816

View attachment 44815

https://www.realtor.com/realestateandhomes-detail/3204-Lonigan-Cir_Gillette_WY_82716_M77890-56782

I did some digging after finding more "great deals" on the same street. Many houses in the neighborhood are "settling", and the owners are suing the builders:

Homes in Gillette subdivision suffer severe settling

GILLETTE — Miranda Miller’s home is slowly crumbling.

trib.com

 

[UK_Mike]

There are three types of people in this world:

1. People who “get” Labor Day off.

2. People who *decide* to take it off.

3. People who don't live in the US and don't know when Labor Day is.

(Oh, and people who make sarcastic "ftfy" posts and forget that they can't be deleted when they think better of them)

 

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[Antifragile]

3. People who don't live in the US and don't know when Labor Day is.

(Oh, and people who make sarcastic "ftfy" posts and forget that they can't be deleted when they think better of them)

“What what is a weekend?” Now that’s real old money wealth!

View: https://youtu.be/4KBAXMpklDU

 

[Simon Angel]

I wonder what’s next? Meeting real people, in real life, at a bar? Preposterous!

My girl and her friends use this lol. They still meet up every day. Just another dumb trend.

 

[GPM]

I am sure this is how these heroes built up their bodies. Food like this!

 

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[MJ DeMarco]

I am sure this is how these heroes built up their bodies. Food like this!View attachment 45060

Similar to how the best athletes seem to always be drinking the cheap beer, and after a workout.

And then my favorite: If you want to be happy, smiling, and do a lot of nature-inspired activities like kayaking and hiking, start taking pharmaceutical medications, the kind with 3 minutes of orated side-effects.

 

[Guest-5ty5s4]

Lots of know-it-all writers claim that you can just "remove" your difficult customers and grow your biz, easy peasy.

But a lot of times, it's not a simple 80/20 situation. Sometimes your most difficult customers are also the ones that are making you the most money.

It's easy to talk; it's hard to do.

 

[Antifragile]

Lots of know-it-all writers claim that you can just "remove" your difficult customers and grow your biz, easy peasy.

But a lot of times, it's not a simple 80/20 situation. Sometimes your most difficult customers are also the ones that are making you the most money.

It's easy to talk; it's hard to do.

No, I disagree. Difficult customers by definition are difficult (typically take up more time, whine about price and reduce your profit margins, never satisfied with anything, in general they make your life shittier). Early on, few can afford to “fire” them. But as business evolves, the job is to triangulate between best customers and your products.

That’s the path. It works. And as you free up your company time, you’ll be able to spend that time serving the best customers even better. Making them even happier. Increasing your profit margins.

 

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[Antifragile]

I’m at the airport waiting for my flight. The plane is full. Boarding is based on zones per ticket. Why do people in economy class line up before business and stand there for 40 minutes? I don’t get it. Huge lineup and once a few do it, the rest like sheep just follow.

 

[Guest-5ty5s4]

No, I disagree. Difficult customers by definition are difficult (typically take up more time, whine about price and reduce your profit margins, never satisfied with anything, in general they make your life shittier). Early on, few can afford to “fire” them. But as business evolves, the job is to triangulate between best customers and your products.

That’s the path. It works. And as you free up your company time, you’ll be able to spend that time serving the best customers even better. Making them even happier. Increasing your profit margins.

60+ years in, and this is not true.

Exxonmobil is a very difficult customer.

The US Government is a very difficult customer.

We are not firing them.