Is Sarasota in a bubble (credit card, quality of life, organic)

[beach43ofus]

Originally Posted by MOforthewin

Even if you're a doctor making 200k a year inflation still hurts when gas is way up, along with housing, car prices, food prices, etc. because in many cases those people are used to spending $$$ on houses and luxury items. So if the car that cost 65k 5 years ago costs 80k now that's still a hit. I see many 6 figure earners who go into debt because they have to buy the best.



Unless you're like my doctor I go to. He drives a Chrysler Mini Van and a run of the mill Lexus SUV that's a few year old.

There are 2 aspects to this discussion. Income and net worth. If you make $200k+, are debt free, and have top 2% net worth, this inflation (thus far) is a non-issue.

Many top income earners are in debt up to their ears, so for them, its an issue.

Also, if you have high net worth, but no earned income, it can also become an issue because unearned income is being taxed at higher and higher rates, & if you don't own real estate, you may be more vulnerable to inflation.

I'm dodging all the bullets for now, but it keeps getting tougher to do. The top 1% are bullet proof by design.

If you are part of the 99%, I strongly suggest you pay off debt, & live like every Dollar is the last Dollar you'll ever see.

[MOforthewin]

Originally Posted by beach43ofus

There are 2 aspects to this discussion. Income and net worth. If you make $200k+, are debt free, and have top 2% net worth, this inflation (thus far) is a non-issue.

Many top income earners are in debt up to their ears, so for them, its an issue.

Also, if you have high net worth, but no earned income, it can also become an issue because unearned income is being taxed at higher and higher rates, & if you don't own real estate, you may be more vulnerable to inflation.

I'm dodging all the bullets for now, but it keeps getting tougher to do. The top 1% are bullet proof by design.

If you are part of the 99%, I strongly suggest you pay off debt, & live like every Dollar is the last Dollar you'll ever see.

I doubt there are any 1 percents on here. Those type of people don't have time or the need to d*ck around on forums and are out making money, finding ways to make even more money. Before becoming President, Trump was working 14 hour days on his various businesses.


Trump is a good example of debt though. His businesses have taken a huge hit since he's become President. He's got the lease for the Trump DC Hotel up for sale and a lot of other loans coming due. A lot of his properties are not making a profit right now.

[KayakDoc]

Originally Posted by MOforthewin

Those type of people don'I doubt there are any 1 percents on here. t have time or the need to d*ck around on forums and are out making money, finding ways to make even more money. Before becoming President, Trump was working 14 hour days on his various businesses.


Trump is a good example of debt though. His businesses have taken a huge hit since he's become President. He's got the lease for the Trump DC Hotel up for sale and a lot of other loans coming due. A lot of his properties are not making a profit right now.

nothing more true can be said....here you have defrocked professors and mostly retired knowitalls no doubt, dealing in revisionary personal histories it seems...


my excuse is simple...left the investment banking business (Goldman, Prudential, BoA, Suntrust Capital Markets) then my own company which burned cash like no other lol..


anyone who tells you that Goldman is smarter than everyone else on the street, they don't know what the f they're talking about - what they're excellent at is inside information with the government and the Fed...technology, fast-trading, marketing, and making you think they're the mackdaddy. Besides that I know smarter firms in places like Little Rock et al, eg Stephens...lol


Don't believe this bullchit about Goldman....biggest insular criminal on the street, besides JPMC imho and exp

[foodyum]

Originally Posted by KayakDoc

nothing more true can be said....here you have defrocked professors and mostly retired knowitalls no doubt, dealing in revisionary personal histories it seems...


my excuse is simple...left the investment banking business (Goldman, Prudential, BoA, Suntrust Capital Markets) then my own company which burned cash like no other lol..


anyone who tells you that Goldman is smarter than everyone else on the street, they don't know what the f they're talking about - what they're excellent at is inside information with the government and the Fed...technology, fast-trading, marketing, and making you think they're the mackdaddy. Besides that I know smarter firms in places like Little Rock et al, eg Stephens...lol


Don't believe this bullchit about Goldman....biggest insular criminal on the street, besides JPMC imho and exp

What Goldman and their competitors are excellent at is paying their large staff extremely well.

I didn’t care if they were smart or not. If the bonus was good, I was good. There were very few years where they didn’t exceed expectation.

[MOforthewin]

Originally Posted by KayakDoc

nothing more true can be said....here you have defrocked professors and mostly retired knowitalls no doubt, dealing in revisionary personal histories it seems...


my excuse is simple...left the investment banking business (Goldman, Prudential, BoA, Suntrust Capital Markets) then my own company which burned cash like no other lol..


anyone who tells you that Goldman is smarter than everyone else on the street, they don't know what the f they're talking about - what they're excellent at is inside information with the government and the Fed...technology, fast-trading, marketing, and making you think they're the mackdaddy. Besides that I know smarter firms in places like Little Rock et al, eg Stephens...lol


Don't believe this bullchit about Goldman....biggest insular criminal on the street, besides JPMC imho and exp

Firms like Goldman's is what helped led to the crash back in 2008.

[MOforthewin]

Originally Posted by KayakDoc

nothing more true can be said....here you have defrocked professors and mostly retired knowitalls no doubt, dealing in revisionary personal histories it seems...


my excuse is simple...left the investment banking business (Goldman, Prudential, BoA, Suntrust Capital Markets) then my own company which burned cash like no other lol..


anyone who tells you that Goldman is smarter than everyone else on the street, they don't know what the f they're talking about - what they're excellent at is inside information with the government and the Fed...technology, fast-trading, marketing, and making you think they're the mackdaddy. Besides that I know smarter firms in places like Little Rock et al, eg Stephens...lol


Don't believe this bullchit about Goldman....biggest insular criminal on the street, besides JPMC imho and exp

Professors actually many are OVERPAID and work little. That is why college is so expensive. Many full tenure, or associate professors only work 3 days a week and they get summers off as Adjuncts teach summer courses usually.

On top of that since they don't work a lot many of them also own a business. I graduated in 2013 and had one professors, early 40s who was making about 130k a year and on campus just 3 days and didn't work summers. He was a sports economist and also had a economics business doing impact studies and made about 120k a year from that on the side. Then in the summers he taught a class out at Pepperdine in California as a guest professor and also would do expect testimony once in a blue moon as well and also had a rental condo he owned in Vegas he rents out. So in total was probably pulling in 300-320 grand a year. Granted he's a smart guy and works hard and earns it. He's also very frugal with his money. Drives a normal domestic 4 door car, and girlfriends would complain he's too tight. However there are many professors who make big money who don't work hard.

[MOforthewin]

Saw something funny on twitter yesterday lol. Some twitter user showed up in my feed, I guess replied to a tweet I replied on.


Anyway, I was bored so I went on his profile. Was some dude in Nebraska in his early 40s and looked like he was a union construction worker or something. So he bought a house being built here in FL and mentioned he was closing. Looked like the typical 3 bedroom cookie cutter KB, Adams, or Dr Horton homes that go for about 240k around my area. Mentioned he can't wait to move down here and see the home he purchased. Apparently he never set foot in it.


He said his dream was to live in FL and open up a shop that sells beach wear. From reading his tweets he mentioned he's a union worker and looks like the construction trade which they make decent wages and benefits up north. Said he cashed in his retirement and using it to move to FL and open his shop and said he lived in Nebraska all his life and his dream was to live in FL.


I hope it goes well, but this guy is going to burn through that cash quick. Everyone sells beach stuff down here in FL and he obviously has never lived here or been to the beach much to know the demographics or type of tourists etc around here.


Also, rent isn't cheap for shops. Even a crap shop over in Port Charlotte will still cost you 1200 a month and need a lot of work. IN a shopping center like Publix could be 3k a month or more!


You see these type of people all the time who move to FL, many of them not highly educated and make off the wall decisions like this and go bust and end up returning up north in a couple years.


The upside is he has skill in the construction industry. However, here in FL even with the current labor shortage they still won't pay those union wages for skilled labor.


I think the logical thing would do would been to keep working until his early 50s and save up more retirement, or move here and sell the beach wear as a side gig at one of the large fleamarkets and if it sells then expand to a store while doing construction work. Also, looked like a liberal based on what I saw on his profile.

[joshan]

Originally Posted by MOforthewin

Also, looked like a liberal based on what I saw on his profile..

Ugh... People are WAY more important that a ****ty political party. Bad people are liberals and conservatives, good people are liberal and conservatives. This is the damn problem with this country.

Pull your head out of the political machines ass and look at people, not parties.

/rant off. I am sure this will be deleted.

[joshan]

Except I am not... registered Republican. But I don't just vote the party, people are far more important.

[Trying941]

Originally Posted by beach43ofus

There are 2 aspects to this discussion. Income and net worth. If you make $200k+, are debt free, and have top 2% net worth, this inflation (thus far) is a non-issue.

Many top income earners are in debt up to their ears, so for them, its an issue.

Also, if you have high net worth, but no earned income, it can also become an issue because unearned income is being taxed at higher and higher rates, & if you don't own real estate, you may be more vulnerable to inflation.

I'm dodging all the bullets for now, but it keeps getting tougher to do. The top 1% are bullet proof by design.

If you are part of the 99%, I strongly suggest you pay off debt, & live like every Dollar is the last Dollar you'll ever see.

The above is a very solid post with very good advice.