Comments by LMN (page 3)

"Top executives average around $100k" One of the stupidest things I've read here so far.

@mikeya02 Since when have I given a shit about someone finding out who I am? I offered to meet members here who live in Miami. I offered to fly out a stripper that posts here. In another thread I openly stated my family's source of wealth. Realistically, what is someone going to do if they found out my identity? Call the SEC and get me banned from working in private equity because of posts I made on an internet forum about drug use? Call up my dad and tell him his son whose been in residential drug treatment is using drugs and banging strippers? Lol. Get real. P.S. You should stop obsessing over me, it's weird.

@crsm27 Chances are if one qualifies for a Roth IRA, he/she isn't going to have a good future anyway. Regardless, my whole point was living on 50k/year is peanuts and relatively impossible if you want to have an enjoyable life. I'd rather shoot myself in the head then work to age 65 just to live off 50k per year until I die of old age.

"I've been in a Bentley" LOL Was that the highlight of your life?

@mikeya02 Have you ever actually seen a ferrari in real life?

@shailynn Please address my points regarding leasing cars. You claim I'm a dickhead for leasing a Porsche. I take it you prefer to pay for things with post tax dollars, minimal deductions, lower quality and greater maintenance costs?

@mikeya02 I said I didn't want too drive from hibiscus to the gables at 4am. Not that it took four hours, lol.

@shailynn How exactly am I a "dickhead" for leasing? I pay leases entirely through pre tax dollars through a corporation and I get a new car every 2-3 years paying only the depreciation. Conversely, you buy a shitty pre-owned car and can only deduct the depreciation while paying for every single bit of maintenance outside standard powertrain warranty. Maybe this makes sense to you in the realm of Hondas and Toyotas. Anyhow, for the record, I also own a ferrari 612 (it was my father's old car) and a dodge viper acr. There are certain high end luxury/sports cars that one cannot lease or the lease options make no sense (ie the lamborghini lease program barely provides you enough miles to drive the car) but aside from that leases are superior if you can afford the payments. While a very small percentage of the population makes in the six figures or higher, an even smaller percentage of the population pays strippers for sex - which is quite an expensive hobby. It doesn't surprise me that most here are making at least six figurs. How else could you afford this hobby?

Che I live on hibiscus island. If you have an idea what RE runs for there, you'd realize the $6200/month mortgage means I've paid the principal down a lot. I could use family estate funds to pay off the house in full but I prefer to reduce the principle balance by continuing to make payments toward it. I just had to pay $48k in legal fees plus a civil judgement against me. I'm going to have to move soon realistically to shelter more money

Dougster Regarding rental income, I own some section 8 units that return 19 percent. Property manager takes 10 percent of the net income. Best real estate investment I've made (in all candor I made some bad ones with strip malls in low income areas).

What am I hiding? I've offered to meet people who live in Miami. I even offered to fly out some stripper who posts here. Its not like my family are celebrities or something. I doubt anyone even knows who they are. They are wealthy because of a patent on something in the medical field my grandfather had. My father built his wealth to a much bigger degree.

Mikey I'm in my mid twenties, so probably closer to 17 than your age. Regardless, you keep proving you don't know what a ferrari looks like. I'm actually embarrassed and ashamed for you.

I invest $6,600/month to max out the premium of two 2.5 million whole life insurance policies. I also invest $6,000/month into mutual funds. This comes out of my actual income from working in private equity. I have a variety of investment accounts, custodial trust accounts, etc that were set up by my family's estate but I obviously do not have active control over how those funds are diversified. I pay $1,200/month to lease a Mercedes SL550. I pay $900/month to lease a Porsche Panamera. I pay ~$6,200/month on the mortgage on my place (payments are low because I am constantly refinancing to stretch out so it isnt paid off thanks to the homestead law in Florida). I pay $2,750/month rent on my crash pad. I pay for almost everything except drugs and strippers on my Amex, which usually ends up being around $6,000/month (restaurants, dinner, gas, groceries, clothes, random shit). Currently I probably average about $3,000-$4,000/month in cash given to my current favorite stripper. Drugs, I am not too sure as its pretty variable but I spend about $2,000-$3,000/month on cocaine for sure. Probably another $1,000/month on weed. The roxis and stuff are pretty cheap, not more than another $1,000 if im not buying them off someone with an rx and getting them for street value. My family's estate pays for my lawyer so I dont calculate that directly. Same with accountant, etc. The total on that is $39,650 which seems about right. only about $13,000-$20,000 max come from my actual "job" - the rest is drawn from trust funds and managed accounts from my family's estate. I definitely have a high cost of living. As I mentioned, I tapped out a custodial trust account a few months ago pretty quickly.

@mikeya02 im sorry that you dont know what an actual ferrari 612 scagletti looks like. The fact that you are unable to comprehend what a real image of the logo on the back of a 612 looks like shows: 1) you've never seen a ferrari in real life before 2) you work in a mail room You can address me directly when you earn a degree of higher education and clear six figures net annually.

@jester214 yes, because high net worth individuals disclose their exact net incomes on tax returns (sarcasm). You clearly know nothing about making any real amount of money.

@Dougster I've always had better returns with managed funds. One of my closest friends is a full time day trader and I do not envy the lifestyle it dictates. Honestly, I just try to ignore the obvious low income idiots such as Jester and Mikey. Its pretty obvious that they work dead end hourly pay W2 jobs and save up for weeks on end to pay an ugly hooker $300 to blow them half heartedly. That is why it bothers them so much when people like you and I post. It makes them come to terms with their own failures and the cognitive dissonance yields a lashing out effect.

@mikeya02 Still toiling at work in the mail room for minimum wage? When you blow through 8balls in a night with no problem, like I often do, you sometimes find yourself in a predicament where you need an immediate cocaine hookup and you'd rather not drive all the way to Coral Gables at 4am to get it. This is when a stripper can come in handy. I understand I own space in your mind, but I am concerned that your growing obsession with me may be detracting from your mail sorting and your employment could be threatened. @Papi_Chulo Fair enough. For those who don't understand my reference, replace "Liberty City" with "shit ghetto"

I will also add, regarding strippers who use cocaine...the ones who get it for free because they are blowing the dealer, get shit product. Every time I've ran out of blow and had a stripper make an emergency run for me to her dealer, the stuff i got was 75% cut shit that belongs in Liberty City.

GoVikings I'm not trying to troll you or brag about how much money I make (in fact I regularly state I'm a trust fund baby which isn't particularly impressive). It would be difficult to live a fun lifestyle and retire comfortably on 50k/year. You cannot deny that. Lets say you own a (meager) home and finance a car. With 50k/year net income chances are you didn't make a big down payment on your home and have a 30 year fixed interest mortgage to the tune of maybe 1.2k/month. Lets say you got a mid level japanese 4 door car your financing over 3 years with moderate interest to the tune of $300ish/month. Now were already at $1.5k leaving $2.5k left for daily expenses, groceries, gas, etc. If you live very frugally let's say you spend an average of $300/week on ALL other expenses. Now were about 2.7k cost and 1.3k remaining. Obviously you need to have some free cash available for emergencies - hell, most banks charge you fees for having less than 1k in your checking! So exactly how much are you investing monthly for retirement? Five hundred bucks? Lol. Whats that going to do for your lifestyle in retirement? Barely getting by? And that's assuming you NEVER go out on the weekends, get drinks, NEVER drive a nice car, never go to strip clubs etc.

Mikeya02 You're out of your league in this conversation. Grown men are discussing finances. You do have my permission, though, to chime in with your expertise on the next thread regarding mail sorting and minimum wage.

GoVikings Theres a lot of poverty in this country and a lot of deadbeats that make the national median income very low. I guess 50k/year is enough to live off if you have no interest in ever retiring, having a savings, or doing anything fun on the weekends or driving even a remotely new car, owning a home bigger than a studio apartment, etc And it's a sad reality that people with higher post grad degrees are taking home less than 100k annually nowadays. Its entirely because of oversaturation of degrees due to student loans. IMO, eliminate student loans and only allow scholarships and paid in full tuitions and people will go back to making a real living after earning it in school.

Also to note Its not like these girls pay taxes on their earnings which make their true post tax earnings A LOT less.

@farmerart I'm sure there are strippers with savings who make decent $ but they are they are not the majority. FYI - 500k over 15 years with no interest earnings is about $600 under the max monthly premium on a 2.5mil cash value of life insurance investment. A decent savings but for someone without any dependents, no mortgage and little living expenses, setting aside $2700/month isn't exactly indicative of a large income.

Lol @ mikeya02 believing what a stripper tells him she makes. I guess when you are a mail room employee $600-$1000 per week sounds like a lot. GoVikings $50k/year is NOT enough money to be able to pay for rent, car, utilities, basic living expenses and have money left over to afford cocaine. A casual coke weekend coke habit (and trust me on this lol) runs $200-$500/weekend. That's already $800-$2,000 per month. A daily coke user will be blowing through much higher numbers. 50k/year is barely enough to live, let alone use one of the most expensive and shortest acting drugs. Honestly, I have no idea how someone can live on less than 10k or so per month with a home, car, etc.

GoVikings What do you think the average stripper makes? Without sucking and fucking, I assume they make less than the median income. With "extras" perhaps a bit over but with little income stability and generally very poor spending habits that leads them to net zero anyway.