Rich mans game

paflyer said:
And the reason that taxes are 25K is to pay for the pensions of the bastages who take the money and run.
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Hey, someone has to pay the 1000 jailers who guard 800 inmates. The 'bastages' only conform to incentives created for them by the tax code.
 
weilke said:
Looping back to the OP of the thread: No, I don't think GA is a 'rich mans game'. In my case, a partnership is the tool to keep expenses under control. None of my partners is 'rich' or 'wealthy', we all have to work for our money. By sharing fixed expenses and capital, all 5 of us have access to a nice plane while based in a high cost location.
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Sure I could save a ton by taking on a partner or two, but I'm stingy with my stuff and like the 24/365 dispatch opportunity, and fortunately I have the resources to comfortably do that. I agree that for many people it's a smart way to go if you don't fly a lot and don't want to commit a lot of cash, or the partners have lifestyles that don;t conflict (e.g., one is retired and flies on weekdays, the other works full time and can only fly on the weekend...)
 
weilke said:
Hey, someone has to pay the 1000 jailers who guard 800 inmates. The 'bastages' only conform to incentives created for them by the tax code.
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Which is created by people who pander to the public "service" unions. But I digress.
 
paflyer said:
And the reason that taxes are 25K is to pay for the pensions of the bastages who take the money and run.
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Puerto Rico taxes state pensions regardless of whether you move CONUS or not. Maybe NY should think about doing that. I agree, it's not right for the local community for everybody cut bait the second they stop working and move to Florida, where they pander to that demographic at the expense of the young and underemployed. Everything seems so "F U I got mine" in America these days. It's almost feels like it takes an actual World War for us to acknowledge one another as actually belonging to the same Country. The price we pay for multiculturalism I suppose....
 
FloridaPilot said:
Rich = Playing for a pro team

Wealthy = Owning a pro team

Both are totally different mentalities. One is shorter term thinking and the other is longer term thinking.
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Rich and wealthy mean the same thing. They are synonymous. Look in your dictionary and/ or thesaurus.
 
paflyer said:
I used a HELOC to buy my airplane. Cheapest money you can get, you preserve your capital, you might be able to deduct the (small) interest.

Of course, the monthly payment wasn't a stretch, in fact I could have paid it off at any time. I think it was 20 yr amortization, aggressively paid it off in a few years.
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I sure hope that was his plan.
 
Sam D said:
"Whether you think you can or think you can't, you're right" -- Henry Ford
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How about this one: I'm NOT discouraged because every wrong attempt discarded is another step forward - Thomas Edison

SkyDog58 said:
Rich and wealthy mean the same thing. They are synonymous. Look in your dictionary and/ or thesaurus.
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HA! Even the dictionary doesn't know what it really means.

Here is my definition of it:

Rich = Golden Egg
Wealth = Goose that produces the Golden Egg

They are NOT the same. You can have a Golden Egg and eat it once, but if you keep the Goose you can have Golden Eggs for a lifetime.
 
FloridaPilot said:
How about this one: I'm NOT discouraged because every wrong attempt discarded is another step forward - Thomas Edison



HA! Even the dictionary doesn't know what it really means.

Here is my definition of it:

Rich = Golden Egg
Wealth = Goose that produces the Golden Egg

They are NOT the same. You can have a Golden Egg and eat it once, but if you keep the Goose you can have Golden Eggs for a lifetime.
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It takes a lot of arrogance to think your definition is correct and the definition in the dictionary and that of most people is incorrect.
 
FloridaPilot said:
No, it takes a lot of "trust" to believe everything that is written in a book and not question anything!
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So say you from your mom's basement.

You obviously do not know the difference between trusting what is written in a typical book and what is written in a widely accepted and accredited reference book.

Definitions of words matter. They are how we are able to understand what the other person is telling us. While language evolves over time and new words enter into our language, it takes a lot more than some little kid creating his own definition of a word to actually change the meaning of the word.

I trust the dictionary far more than you.
 
SkyDog58 said:
So say you from your mom's basement.

You obviously do not know the difference between trusting what is written in a typical book and what is written in a widely accepted and accredited reference book.

Definitions of words matter. They are how we are able to understand what the other person is telling us. While language evolves over time and new words enter into our language, it takes a lot more than some little kid creating his own definition of a word to actually change the meaning of the word.

I trust the dictionary far more than you.
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Good for you there sky dog, but remember just because something is widely accepted that doesn't mean that it's true, keep your mind open. You are right, definitions of words matter, new words get created and also existing words evolve over time too. (The first edition of the Websters Dictionary was made in the 1800's....a lot of things has changed since then).

I appreciate that you call me a little kid living in my moms basement and to be quite honest if I were a little kid I would be offended by it. Due to the fact that I am not I would give anything to hear my mom call me again. She is long gone now but I do miss those memories.
 
I'm lucky enough to basically be given a house. I only "owe" the family 30% of the value. I work a good job that will have good future earnings. I put most of my money in savings. I haven't even touched my good size airline bonus and won't until it's mine free and clear in a year and a half. When it is mine I'll buy myself a new car and use it till it's dead. Hopefully, my current 18 year old car will last that long.

Once I find a woman and get married I'll be happy with one or two kids.

Most of my money suckage is eating out and electricity, unbelievable as it sounds. Hopefully the electricity part will go away next week with A/C work.
 
SkyDog58 said:
Rich and wealthy mean the same thing. They are synonymous. Look in your dictionary and/ or thesaurus.
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Meh, Chris Rock had a riff on this a while back. The difference between rich people and wealthy people. I think it is pretty spot on.
 
I have previously declared myself as a self-made hundredaire. is that rich or wealthy? nope. but I earned it.
 
You guys complaining about 'rich' game want some European perspective?
I just returned from a trip to Italy, met a fairly well-to-do Italian guy, he owns a bed&breakfast in Tuscany, no Ferrari in his garage but he is doing OK. He told me he used to fly GA aircraft but now even flying an ultralight is beyond his means, those European socialist government consider flying such a bourgeois practice that they throw all kinds of fees at you. Sweden seems to be relatively GA friendly country but overall in Europe it is considered a sport for super wealthy and super wealthy are fair game in terms of taxation.
 
SixPapaCharlie said:
If anyone knows the formula for getting rich, please post it.
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Sure. Glad to help.

1. Avoid debt.
2. Pay off credit cards every month. Every month.
3. Live well within your means.
4. Invest surplus (see 3 above) in low to moderate risk mutual funds, well diversified.
5. Continue patiently for 20 to 30 years.

You're welcome.
 
olasek said:
You guys complaining about 'rich' game want some European perspective?
I just returned from a trip to Italy, met a fairly well-to-do Italian guy, he owns a bed&breakfast in Tuscany, no Ferrari in his garage but he is doing OK. He told me he used to fly GA aircraft but now even flying an ultralight is beyond his means, those European socialist government consider flying such a bourgeois practice that they throw all kinds of fees at you. Sweden seems to be relatively GA friendly country but overall in Europe it is considered a sport for super wealthy and super wealthy are fair game in terms of taxation.
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Which is why the European super wealthy domicile in low-tax countries.

In the US we don't get the "escape" option unless we rescind our citizenship, in which case the IRS still gets a big chunk on the way out.
 
Half Fast said:
Sure. Glad to help.

1. Avoid debt.
2. Pay off credit cards every month. Every month.
3. Live well within your means.
4. Invest surplus (see 3 above) in low to moderate risk mutual funds, well diversified.
5. Continue patiently for 20 to 30 years.

You're welcome.
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6. Don't do drugs
7. Don't get pregnant at 16
 
Half Fast said:
Sure. Glad to help.

1. Avoid debt.
2. Pay off credit cards every month. Every month.
3. Live well within your means.
4. Invest surplus (see 3 above) in low to moderate risk mutual funds, well diversified.
5. Continue patiently for 20 to 30 years.

You're welcome.
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Thanks Dad.
 
Households build wealth through capital gains on homes and other equity investments. Working hard, saving your money ain't gonna do it. You need to invest. Only 10% of Americans have net worth in excess of $1 million. More than half of us couldn't scrape up $400 cash in an emergency.
 
weilke said:
1 wife.
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Perhaps the most difficult and yet rewarding thing you can do over the long term.
paflyer said:
FTFY:
"Obama made the bulk of his dough putting his name on books written by someone else."
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Ha Ha, Not.
Chip Sylverne said:
Households build wealth through capital gains on homes and other equity investments. Working hard, saving your money ain't gonna do it. You need to invest. Only 10% of Americans have net worth in excess of $1 million. More than half of us couldn't scrape up $400 cash in an emergency.
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The stepping stones of capitalism for the 'common man'.
 
Ha Ha, Not.
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Ha, ha, not not.

One of my colleagues here specializes in pattern recognition algorithms, focused primarily on target recognition features that are in our fire control systems. A few years ago he did some analysis at home in the evenings and ran one of Obama's books through his routines, comparing phrasing, vocabulary, etc. to known writing samples, quotes, speeches, etc. Result was less than a 1% chance that Obama wrote the book.
 
James_Dean said:
I was really trying to say that there are cheaper ways to get protein other than steak. Please don't take that as a condemnation of beef in any way. In fact, I'll introduce you to Hank and Ginger. They're registered black angus and will be quite delicious. We're going to do a few Wagyu feeders in the spring that will be ready for the dinner table in late 2020.
P.s. they're steers, but the kids got to do the naming. I was angling for calling them Tomahawk and Ribeye but lost the battle.
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Never name your food. It always makes for hurt feelings, etc when you end up putting them on the plate. Especially if the kids do the naming. They start to think of them as pets. Yours might be different, but not a lot are.

Where's Ginger? Your eating him..
 
Caramon13 said:
Never name your food. It always makes for hurt feelings, etc when you end up putting them on the plate. Especially if the kids do the naming. They start to think of them as pets. Yours might be different, but not a lot are.

Where's Ginger? Your eating him..
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There are two steers in that photo, Ginger is fine and putting on good weight every day!

I'm an executive in a large argi-business concern. You don't think I've taught my kids where food comes from?

IMG_1776.jpg IMG_1779.jpg IMG_1777.jpg
 
James_Dean said:
There are two steers in that photo, Ginger is fine and putting on good weight every day!

I'm an executive in a large argi-business concern. You don't think I've taught my kids where food comes from?
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Like I said, yours may be different. And hey that's awesome if your kids can make the separation. All I was implying is that naming something immediately changes the game with MOST people.

You name dogs, cats, your children, but something that is going to be butchered...why bother? I mean unless its for identification means only. But then why not call it Steer_811 for example? Naming something makes it unique and for most people attaches them to that "thing" in a completely different way. If I have 50 paper clips and I name one Bob (besides the fact I'm insane at that point), I treat Bob differently then the other ones.
 
James_Dean said:
There are two steers in that photo, Ginger is fine and putting on good weight every day!

I'm an executive in a large argi-business concern. You don't think I've taught my kids where food comes from?

View attachment 54788 View attachment 54789 View attachment 54790
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JAMES, JIm, You can bet your sweet I see your point. You, and according to your posts your father have put a lot of effort into becoming the corporation you have become. That is the result of no small effort in my mind. Even though back in the sixties a doctor friend offered to finance my wife getting into a small mom and pop businesses I turned him down in spite of his intentions being honorable. I was not, at that time ready to commit myself to business details 24/7/365. I have admiration for those who are willing to do so.
 
Anthony said:
James those are great photos!
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Thanks. That was a few years ago in Ohio. I try to take each kid with me on a trip once per year and show them what Dad does when he's not at home.
 
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