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The 90th percentile family had $274,000 saved, and the 80th percentile family had $116,000. Meanwhile, the median working-age family had only $5,000 saved in 2013.
I keep coming back to this forum to keep myself UNSCRIPTED .
There is a whole wide world out there...
Does anyone else feel crazy for having these Fastlane dreams?
Normal people my age are out and enjoying themselves
Of course they are also very vulnerable and broke too
FOMO is real, but so are corporate takeovers and layoffs
/end rant
PS - a heavy hitter on the forum was nice to take a call from me once.
I kept his voicemail in my phone just to remind me that there are people that have hit the Fastlane.
FOMO? The fear of missing out? What they are missing out on is a life in which they have control. I see the fear that lack of control causes every day (been there done that). Are people really enjoying themselves or are they distracting themselves from the fact that they don't own their lives?
The 90th percentile family had $274,000 saved, and the 80th percentile family had $116,000. Meanwhile, the median working-age family had only $5,000 saved in 2013.
Money that just sits there is a depreciating asset. Funny how the mainstream media does not GET IT but they continue to report on the WRONG thing. They report on the money amounts, what kind of house, what kind of car (the bling), because the media is clueless. What matters is not how much money you have but how much money you have invested, what you invested it in and what your return on your investment (ROI) is.
You've borrowed tons of money and made the minimum payment but have no cash, so you are a success? WTF?
You are gonna borrow money to build your score so you can borrow more money? Huh?
Most americans can't get ahead because they worship a game created by the banks that only makes banks richer not you. Car loans, Mortgages and credit cards. No wonder banks are so rich.
I truly believe free and clear ownership and independence and control from banks is the way to go.
We have lost our minds in our society where we measure success by stupid and backwards criteria.
Yup, and success is vilified and victimhood is celebrated.
Heck, even being morbidly obese is now celebrated, just as long as you're proud of being morbidly obese.
Wow, you're so edgy that you're body proud! You go girl!
Yea, I don't care if you want to live your life at 300 lbs and you're proud of your undisciplined diet of carbohydrates -- whatever makes you happy -- just don't ask me to pay for your healthcare and your lifetime EBT card because you Ben-and-Jerried yourself into a wheelchair.
Here ya go: Snowflake training for your future employees who can't take criticism. From a major SEC college.
This one is particularly interesting: "If you feel unduly stressed by a grade for any material... email the instructor what grade you think is appropriate and it will be so changed."
This is incredibly valuable in the real world.
If you think your $28K salary is unduly stressing, no worries, tell your boss you're worth $250K/year and it will be so changed.
Here ya go: Snowflake training for your future employees who can't take criticism. From a major SEC college.
This one is particularly interesting: "If you feel unduly stressed by a grade for any material... email the instructor what grade you think is appropriate and it will be so changed."
This is incredibly value in the real world.
If you think your $28K salary is unduly stressing, no worries, tell your boss you're worth $250K/year and it will be so changed.
Here ya go: Snowflake training for your future employees who can't take criticism. From a major SEC college.
This one is particularly interesting: "If you feel unduly stressed by a grade for any material... email the instructor what grade you think is appropriate and it will be so changed."
This is incredibly value in the real world.
If you think your $28K salary is unduly stressing, no worries, tell your boss you're worth $250K/year and it will be so changed.
I was a business major in an SEC university. I remember a professor in a finance class telling a girl who couldn't answer the problem on the board (from homework). "Look, if this is too tough for you, go downstairs and change your major to marketing or some bullshit". He literally waited in silence while she collected her things, then had to awkwardly walk over everyone from her position in the middle of the row and leave the room.
I'm guessing he'll be out of a job soon.
Same guy, when we had an exam with a total of 8 problems on it, all of which were very difficult, this kid was pissed the professor didn't give partial credit. You either got the problem all right or all wrong.
Student: But I got 95% of the math right, and just ended up with the wrong answer.
Professor: Getting the right answer is what matters when you're responsible for someone else's money.
Student: But that's not fair, there's only 8 questions. You have to give partial credit.
Professor: Not fair is telling someone you lost their money, then giving the excuse that you got "95% of the math right"
"Look, if this is too tough for you, go downstairs and change your major to marketing or some bullshit". He literally waited in silence while she collected her things, then had to awkwardly walk over everyone from her position in the middle of the row and leave the room.
This one is particularly interesting: "If you feel unduly stressed by a grade for any material... email the instructor what grade you think is appropriate and it will be so changed."
It might not have been super clear from the way I told the story, but the problem she couldn't answer was from the homework, which she clearly hadn't done. He probably went Bobby Knight when he should have gone John Wooden, but I'll take an a**hole with standards over this d-bag that lets people whine their way into a good grade.
Here's why: He's a paid service provider, but she isn't the only customer in the room. There are 50 other customers. The degree that they worked and paid for becomes worth less in the marketplace if employers know your university has lax standards.
This is exactly why 4 year degrees are essentially worthless in the marketplace these days. Last year, we hired a kid with a 4 year degree from a reputable CA university. It's a good school, and when you see a decent GPA on a resume, you assume basic skills. The kid was useless. Not a bad person. Very pleasant. Still, totally useless. Why do I call him useless? Not because he didn't know anything, but because in addition to not knowing anything, he didn't feel he should have to work to learn. That diploma from a reputable university made him feel validated in a way that he hadn't earned. /rant over.
This made me think of a story and just felt it would be fun to share...
Back when I was in college I had a sociology class. I was majoring in criminology and thought sociology may be a good minor to pursue so I took the class as an elective. Holy crap was the professor extremely boring. The first day there were probably 100 people in the class. Mid-term there were probably 30. At the final, the room was nearly full again. Nobody wanted to sit through that time-wasting suckfest.
At the end of the semester, I knew I wasn't doing too well, so I looked at my grades and found I got an A. Awesome! I was curious about the final so I emailed the professor to ask him what I got on it because there was no way I was expecting an A as a final grade. He replied, "you actually got a C, but since you were honest, I'll give you a B." I don't remember how I replied back to him, but he then sent me a message stating, "If you don't like it, I'll have it changed to a C." Ok...well, I guess that shut me up and I took the B. Was kicking myself in the butt on that one -- I could have just let it go -- as the B brought my GPA down a little bit.
I'm pretty sure he got awful reviews as he was no longer a professor there the next semester. I still can't believe how a professor can be so awfully boring. He made sociology incredibly boring and I no longer wanted anything to do with it.
And long story short, I ended up changing my major a couple times so in the end it didn't even matter other than the credits.
Here's why: He's a paid service provider, but she isn't the only customer in the room. There are 50 other customers. The degree that they worked and paid for becomes worth less in the marketplace if employers know your university has lax standards.
I understand where you're coming from, but I vary a bit in my perspective. I'd prefer to let people choose for themselves and accept the consequences/success of their actions.
That girl may not have done the homework, but her grade is all on her. She paid the teacher to teach...that's on him.
This is exactly why 4 year degrees are essentially worthless in the marketplace these days. Last year, we hired a kid with a 4 year degree from a reputable CA university. It's a good school, and when you see a decent GPA on a resume, you assume basic skills. The kid was useless. Not a bad person. Very pleasant. Still, totally useless. Why do I call him useless? Not because he didn't know anything, but because in addition to not knowing anything, he didn't feel he should have to work to learn. That diploma from a reputable university made him feel validated in a way that he hadn't earned. /rant over.
I graduated from a 4 year degree at a reputable school. I learned this lesson the hard way many times over when I tried getting into business with my peers who turned out to be useless many times over
This video is funny because I feel it tells the tale of TWO different categories of millennials...
The first group, portrayed in the video, shows the tribulations of a millennial who has followed SCRIPTED doctrine -- college, loans, jobs, get a house, blah blah. He cannot afford to live in a nice house, despite working hard in a job.
The second group, the one you don't see or hear about, is the millennial who has NOT followed SCRIPTED doctrine.
He walks into the house and pays cash for it because he's an entrepreneur who's learned how to create his own job.
It's kind of sad because the first group is working hard in a system that worked 30 years ago, but it doesn't work today.
The first group, portrayed in the video, shows the tribulations of a millennial who has followed SCRIPTED doctrine -- college, loans, jobs, get a house, blah blah. He cannot afford to live in a nice house, despite working hard in a job.
I don't know what he's moaning about. I honestly cannot believe the loans I've been getting approved for. These banks are totally mother****ing insane to approve me for amounts like that. Unless you think you're entitled to live in a half million dollar house at age 30, you can definitely get the loan.... might not be able to make the payment, though.
Love the video. But 20 years ago, homes were affordable. The bigger question, I believe, is housing inflation. (Which is a political hot potato). So if the oldies continue on the STABILITY mind set, while the younger ones decide not to buy a house, blow their money on 'experiences', who does that leave to buy those expensive overpriced homes? In other words, are we maybe sitting on a ticking time bomb. Now I'm in the older category now... and in Australia at least, in the capital cities, prices are some of the most ridiculous in the world. I refuse to live there. I refuse to buy overpriced real estate there. I'm with the young ones in mindset. Now this is a problem all over the western world, I believe. If and when interest rates rise, capital values must fall.
I don't know what he's moaning about. I honestly cannot believe the loans I've been getting approved for. These banks are totally mother****ing insane to approve me for amounts like that. Unless you think you're entitled to live in a half million dollar house at age 30, you can definitely get the loan.... might not be able to make the payment, though.
I just bought a house (like last week) and I was pre-approved for like 400K as a single person, I was like WTF is that nonsense. I bought a lovely home for 141K. Can't believe people rack themselves with debt like that...
Business INSIDERS quizzed a host of self-made millionaires on the advice that helped them get to where they are today - with some very interesting results.
The top piece of advice came from the author of The Automatic Millionaire, David Bach, who swears by the 'pay yourself first' method.
Sharing his financial wisdom, David recommended a 'pay-yourself-first plan', which involves saving an hour of your daily income every day of the month.
David explained that it's vital to move the money into savings before you even get your hands on it, adding: 'People still don't grasp the fact that they need to save a dime out of every dollar.
@MJ DeMarco, I'm afraid that he might not be a Slowlane guru. On the other hand he's very much Fastlane.
On Quora, its the style of displaying your occupation that might make things look deceptive.
He does own G3i ventures....and of course he technically works there, as part of some business structuring system.
And here's his bio. https://www.quora.com/profile/Gordon-Miller-21
He's a top contributor on the site....very influential and gives some solid advice on financing startups and business acumen. I myself have exchanged some comments and posts with him some time ago...but I haven't been up on Quora for some time due to work.
And he's one of those who have had good feedback mechanisms that give him the passion to continue even until 55 years old. He's been blocked several times by Quora because some douchebag downvoted him for not giving them money to invest. Or some just became haters. Here's recent diatribe...it's not the first time. https://gordonmiller.quora.com/Edit-Blocked-on-Quora
But he has lots of Quora followers appreciating his advice, slowlane or not, that he still pushes on to provide value as he deems fitting for the marketplace.
I might recommend you try out Quora as a platform to promote the Fastlane/UNSCRIPTED philosophy. Lots of other Fastlaners like Altucher and even Jimmy Wales, the founder of Wikipedia are on there.
I would like to defend Miller as I have picked some gold nuggets from him too just as I did here...and his work in Quora has come under attack many times. I have witnessed it myself and it was not pretty.
He already has a track record of followers.
Sure, he might not follow that advice fully to get rich, but do save a bit on the side, if you can. And earn on a Fastlane, as well. Not every one action should be on its own.
And consider that he is talking to a general audience on Quora. Here at the Forum we are more 'hardcore'. Of course you need to structure stuff accordingly to meet your audience's demands. The mainstream population see entrepreneurship as just another career rather than UNSCRIPTION for life. So, he has to follow.
Do check out his more business-related questions especially on his dealings with Apple (sued them lol) and others. They might be more helpful.
I just bought a house (like last week) and I was pre-approved for like 400K as a single person, I was like WTF is that nonsense. I bought a lovely home for 141K. Can't believe people rack themselves with debt like that...
Debt for housing is bad enough.
Debt for education plus wasting four years or so (adding emotional baggage) is even worse...duel burden.
It's not nonsense for the banks. Apparently banks consist mainly of sales folks who just want to meet the quotas hahaha...my dad gets irked when he gets calls like that all the time. That's why they allow the loans to be procurred.
You remind me of Dan Pena...you just validated his rants on how easy it was to get bank money. But the real challenge after that was to know what deals to find to spend the money on, and allow the cashflow to cover.....
I wish there was a better way of following up without pissing off people.
I've been living in Hanoi the last few months and just discovered something rather horrific.
Most local Vietnamese here have to pay - yes, PAY - to get their job. We are talking bank tellers, teachers and even police apparently. Sometimes it can take quite a few years to recoup the money originally paid. I believe then it is something like a tenured position though where it is hard to lose your job.
I'm not 100% on the figures but this has come from some local Vietnamese friends of mine.
I've been living in Hanoi the last few months and just discovered something rather horrific.
Most local Vietnamese here have to pay - yes, PAY - to get their job. We are talking bank tellers, teachers and even police apparently. Sometimes it can take quite a few years to recoup the money originally paid. I believe then it is something like a tenured position though where it is hard to lose your job.
I'm not 100% on the figures but this has come from some local Vietnamese friends of mine.
Same thing happens where I come from.
One of my old teachers told me how he tried to be a policeman. Passed the physical tests and whatever.
Then they asked him to pay cash to get the job....
He opted out.
Same goes for small businesses that cater to big businesses....around Chinese New Year or some events there will be lots of talk on wining and dining, as well as under table money. Maybe that is the reason I hate B2B...when there is so much immorality involved.
I am wondering if Asian people like myself will realise that to put up with this rubbish would be to F*ck themselves up and their hard work.....
Even to earn a living, you have to pay for it?! To provide value, you have to pay an unreasonable price for it?
Where I come from, people either put up with it or try to migrate to get better jobs overseas. But even migrating has its cons, and the pasture is not always greener. For instance, the five days for two days bribery is a universal SCRIPT anywhere. I could write a thead on it, but I need to get data.
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