How your income stacks up

[Malthus]

Spoken from someone who actually went ahead and PROCREATED with his shikse plaything, that's rich. 

Non-Nazis have a slightly different definition of "loathesome". Most of us don't have the instinctual revulsion towards 'race-mixing'. 

Though I don't really consider my sexual antics loathesome.

Of course *you* don't. 

[Monoriu]

25 times should last forever in most cases, because there will be interest and dividend income, and capital appreciation.  You take away 4%, the rest of the portfolio (96%) is still working for you for next year and beyond.  The number is arrived by testing hypothetical portfolios against past data.  It should survive even if it met Great Depression level recessions.  But past data is no gurantee of the future, so there is never 100% gurantee.

So you leave the principal untouched? What's the point, especially if you don't have children? 

The principal will most likely be used at some point.  Whether it will be used (and by how much) is really up to market conditions.  It is there because I don't know how long I'll live.  The principal needs to be large enough so that it can recover even if, say, it hit 07-09 conditions. 

[Monoriu]

This thread sure took a turn for the strange. 

Yeah.  Who'd have guessed the subject of Pat's...discussions from the OP.  This is odd even by languish standards 

[crazy canuck]

You were on to something with admissions for children of the rich.  A scandalous percentage of students at top universities are "legacies" i.e. children of alumni.  It's not too much of a leap to think that donations to the schools factor into that.

And as he said, only those who can afford it go to the top schools, i.e. those with wealthy parents. Those who can't afford it, don't bother to even apply. So it's not merit-based at all; it's financially based.

I'm not at all familiar with US law schools, but from my US collegues I get the impression that the tuition is high but financing is relatively easy to get, and there are grants available. In short, the financial barrier, while it exists, is not insurmountable, but that other than the super-rich and connected, you need very good grades and LSAT scores to get into a top school (the "merit" barrier is higher).

Exactly,

Anyone can get into a free school.  You have to have actual merit to get into a demanding school.

[The Brain]

What's a free school?

[crazy canuck]

What's a free school?

Then one Pat goes to.  Apparently education in his part of the country costs nothing and everyone has merit.

[The Brain]

What's a free school?

Then one Pat goes to.  Apparently education in his part of the country costs nothing and everyone has merit.

I see.

[Razgovory]

What's a free school?

Then one Pat goes to.  Apparently education in his part of the country costs nothing and everyone has merit.

Even rapists.

[Slargos]

What's a free school?

Then one Pat goes to.  Apparently education in his part of the country costs nothing and everyone has merit.

It's been a while since we started funding swedish schools with tax money rather than tuition fees.

But yes, rapists do get favoured treatment in admission, since it's been decided that too few of our new countrymen get higher education and we need diversity in the educational system.

I guess in that sense, Miglia pulled a Dorsey.

[merithyn]

Found out last night that my brother just took a new job - making 30% more than his already substantial salary of $250,000/year. His comment when I said good job was, "Yeah, but it just means I'm less in debt, so it's not like it's real actual money."

The man will be making $325,000/year, and that's his complaint?? Easy answer: stop spending so much damn money if it's putting you in debt!

[Ed Anger]

Found out last night that my brother just took a new job - making 30% more than his already substantial salary of $250,000/year. His comment when I said good job was, "Yeah, but it just means I'm less in debt, so it's not like it's real actual money."

The man will be making $325,000/year, and that's his complaint?? Easy answer: stop spending so much damn money if it's putting you in debt!

lolz

[Eddie Teach]

He probably said that just because he knew it would exasperate you.

[Martinus]

Found out last night that my brother just took a new job - making 30% more than his already substantial salary of $250,000/year. His comment when I said good job was, "Yeah, but it just means I'm less in debt, so it's not like it's real actual money."

The man will be making $325,000/year, and that's his complaint?? Easy answer: stop spending so much damn money if it's putting you in debt!

I always say I'm in debt to friends and relatives when the topic of my income comes up - that's an indirect way of telling them they shouldn't be asking for handouts.

[merithyn]

Given that they own two brand new, $35k+ vehicles, live in an exclusive neighborhood, and just put in a pool and deck, I don't doubt for a second that they're in debt up their their eyeballs. I just can't believe that he'd do that to himself.

I always say I'm in debt to friends and relatives when the topic of my income comes up - that's an indirect way of telling them they shouldn't be asking for handouts.

My brother still owes me $2500 from when he got a divorce... 10 years ago. Anything he gave me wouldn't be a handout.

[Zanza]

Is a $35k+ vehicle something special? You make it sound like it is.