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Motivated by the retirement savings post: I have a friend from the tech industry who's...
Posted on 10/14/21 at 2:38 pm
Posted on 10/14/21 at 2:38 pm
a VP-Sales and has done the following in the past decade:
- Not filed taxes UT/Fed for three consecutive years. He's fixing this now.
- Has zero savings for retirement. None. If he makes it he spends it.
- Is still single, never married and has two $600+ leases for German cars - one sedan and one SUV.
- Has maxed out his equity in his house w/ a HELOC.
- Owned another house in Austin and defaulted when his tenant moved out early. Just said frick it and moved on.
- Loves raves and rave music (DJ's?). He's late 40's. He just got back from Palm Springs a few weeks ago. Kind of a rave "Deadhead" where he travels to places for raves.
Good guy. Fun to be around. But an absolute financial trainwreck. Personally I wouldn't be able to sleep at night. He reminds me of the stories you always hear about professional athletes, on a smaller scale of course. There's no talking to him about this either.
- Not filed taxes UT/Fed for three consecutive years. He's fixing this now.
- Has zero savings for retirement. None. If he makes it he spends it.
- Is still single, never married and has two $600+ leases for German cars - one sedan and one SUV.
- Has maxed out his equity in his house w/ a HELOC.
- Owned another house in Austin and defaulted when his tenant moved out early. Just said frick it and moved on.
- Loves raves and rave music (DJ's?). He's late 40's. He just got back from Palm Springs a few weeks ago. Kind of a rave "Deadhead" where he travels to places for raves.
Good guy. Fun to be around. But an absolute financial trainwreck. Personally I wouldn't be able to sleep at night. He reminds me of the stories you always hear about professional athletes, on a smaller scale of course. There's no talking to him about this either.
26
Posted on 10/14/21 at 2:41 pm to alpinetiger
Considering the party scene, he’ll probably OD before he retires anyway.
Not that he’s a bad guy, but just all the garbage-laced products out there
Not that he’s a bad guy, but just all the garbage-laced products out there
Posted on 10/14/21 at 2:41 pm to alpinetiger
Your friend is an idiot. He probably makes at least $500K per year. How is it possible to not have any retirement?
Posted on 10/14/21 at 2:44 pm to alpinetiger
Sounds like most sales VPs I know.
Posted on 10/14/21 at 2:45 pm to alpinetiger
I know people who have walked away from maxed out credit cards. And gotten out of it. Without filing bankruptcy. I can't imagine doing that. Son of a friend of mine quit his job and moved in with a girlfriend. Apt and everything in her name. They couldn't find him to serve him papers. Apparently there is a pretty short time limit on that and then it gets thrown out?
Posted on 10/14/21 at 2:47 pm to NewIberiaHaircut
You would be surprised.
You have to opt into your employer programs like a 401K or you have to pull out money to put into other accounts like a Roth IRA.
Some people party like rock stars and think that the financial gravy train will last forever.
At least my excuse for the size of my savings account is having kids and not snorting my paycheck.
You have to opt into your employer programs like a 401K or you have to pull out money to put into other accounts like a Roth IRA.
Some people party like rock stars and think that the financial gravy train will last forever.
At least my excuse for the size of my savings account is having kids and not snorting my paycheck.
Posted on 10/14/21 at 2:48 pm to Colonel Angus
That works as long as they are on good terms.
If he pisses her off, she can legally throw him out and keep his shite because it is in her name and not his.
If he pisses her off, she can legally throw him out and keep his shite because it is in her name and not his.
Posted on 10/14/21 at 2:50 pm to alpinetiger
Sounds like he is having fun. Critical question to determine if his irresponsibility is worthwhile: is he sleeping with many attractive women?
This post was edited on 10/14/21 at 2:53 pm
Posted on 10/14/21 at 2:50 pm to danilo
quote:Molly is his thing. He'll send me pics/vids sometimes at raves, and its like the old "One of These Things is not Like Other" skits from Sesame Street. You'll have a bunch of twenty-somethings in a photo and Steve the 50-year-old. He looks like everyone's Dad.
Fentanyl may get him
Posted on 10/14/21 at 2:50 pm to alpinetiger
Edit - Your friend is not actually in tech.
This post was edited on 10/14/21 at 2:51 pm
Posted on 10/14/21 at 2:52 pm to alpinetiger
You worried he's gonna hit you up in his old age?
Posted on 10/14/21 at 2:52 pm to alpinetiger
Jesus....reading that gave me anxiety
Posted on 10/14/21 at 2:55 pm to DmitriKaramazov
quote:Indeed he's certainly having fun. On the women side, yes and no. He has a sizable range with who he chooses to sleep. I've seen him with legitimate 8-9's and 2-3's and everyone in between. He just doesn't seem to care.
Sounds like he us having fun. Critical question to determine if his irresponsibility is worthwhile: is he sleeping with many attractive women?
Posted on 10/14/21 at 2:56 pm to alpinetiger
I’m starting to think we have a mutual friend. Is there any chance in hell that he is the younger brother of a rather famous 80’s “it girl”?
(And no, not Bobby’s Brown’s brother)
(And no, not Bobby’s Brown’s brother)
Posted on 10/14/21 at 3:01 pm to alpinetiger
quote:
On the women side, yes and no. He has a sizable range with who he chooses to sleep. I've seen him with legitimate 8-9's and 2-3's and everyone in between. He just doesn't seem to care.
Sort of worth it, then.
Posted on 10/14/21 at 3:01 pm to alpinetiger
I really don't understand how people are so open with their finances. I have friends that tell me way too much info and I never divulge anything in return.
Posted on 10/14/21 at 3:05 pm to alpinetiger
Sales.. it's a tough racket
Posted on 10/14/21 at 3:07 pm to alpinetiger
Some people just don’t care
Sometimes I wish I were like that
Sometimes I wish I were like that
Posted on 10/14/21 at 3:07 pm to MyRockstarComplex
quote:I don't think so but perhaps. He does have a brother and two sisters but none of them match your description. Steve is originally McAllen, TX, attended UT, lived and worked in Austin for a decade then took a promotion running a region and him being based out of SLC. We actually met through a mutual friend when he still lived in Austin.
I’m starting to think we have a mutual friend. Is there any chance in hell that he is the younger brother of a rather famous 80’s “it girl”?
(And no, not Bobby’s Brown’s brother)
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