The Third Leg

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Anybody in this financial position isn’t placing this parlay in the first place.

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Degenerate gamblers aren’t known to be making good decisions. Rich dudes aren’t betting parlays like this. I know idiots who lived in shite apartments and played poker and bet sports for a living, often hardly scraping out a living while always having huge bets on the line. I’ve known guys that lose $25k in weekends on sports.

And even if you are financially secure, it’s no small money unless you’re already worth $10MM. Throwing that in a portfolio now and letting it bake for 40 years passes a sizable fortune to pass to your kids. Possibly over $15MM. When you consider this can be passed with a step up in cost basis, it is an extraordinary sum that would finance multiple future retirements.

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It’ll definitely make someone financially comfortable, but it really isn’t “life changing”

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I always love these hot takes completely lacking perspective. The median 401k balance in the US is under $200k for someone ~45 years old.

Keep 60% of this, invested in the S&P for 30 years, if is $6MM. 20 years is $2.5MM. Live by a simple drawdown plan of 4-5% so the principle keeps growing and you have a lifetime income of $125-250k depending on how long you can let it grow. Leaves you in a position to not NEED to worry about retirement while ensuring there is money for your survivors. Indeed, generational wealth

If this person is 40, and puts the $360k in an S&P index, plays it super conservative, lets it sit until 60, then starts drawing $125k per year, escalates that with a 2% cost of living adjustment, and keeps the principle invested for 40 years, his heirs will get about $8MM when he dies at 80.

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in the vast majority of cases the parents are coddled with excuses - BS hold parents criminially and civilly for crimes, injuries and property damage their children cause.

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Lol. What could possibly go wrong here? I’m amazed some of you dipshits can tie your own shoes

Cutting alcohol will improve every aspect of your life if you’re emotionally regulated

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There is only so much traveling you can do

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I could travel for 8-10 months annually until I died or couldn’t do it anymore. There are so many great places to go.

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You still aren’t getting his point. Someone has to eat the shite sandwich. If SS is shut down today you eat the shite sandwich. But you don’t want to eat the shite sandwich, inevitably leaving your kids to eat the shite sandwich. That’s what scruffy is getting at. You make your kids eat the shite sandwich because you’re selfish. No one is saying it wouldn’t be inconvenient or unfair to you to have the social security. Done away with. Just that because you have the “it’s mine dammit and I’ll get what I’m owed!” Attitude you’re screwing over your own descendants.

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Most of this country is broke and desperate, and your solution is to take away the nominal protection they have for retirement

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They never will. It’s far too cold. The Space talk is just the next stock market bubble to keep things inflating till a 1930s style depression. If people actually thought about these things logically not a penny would be invested or spent on it

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No way bro, Doctor DOGE, the man who saved America from overspending and claims he can dig a tunnel from NYC to London is on the case. We will be on the moon living in pods of goop by 2060.

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I'll bet you live in an area that does not allow AirBnBs. Rules for thee but not for me.

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I live in the middle of a major city, have several of these right in my immediate neighborhood. Several rent their guesthouses on air bnb. My mother was just here and rented one for a week so she didn’t have to shuttle around town, yet have her own space.

The only people who allow huge parties are degens who own shitty cheap housing and don’t care about it. I’ve never seen an Airbnb that didn’t have cameras all over the outside. They know when you’re having parties and they kick your arse out.

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Case and point, the Kentucky State Legislature tried to pass in this last legislative session (thankfully it failed) forcing all cities and municipalities to lift restrictions on short term rentals (see AirBnBs). This is one of the larger variables that are fricking younger generations out of affordable housing. Why you may ask? Because many Boomers and Gen Xers who have rental properties can make more money with AirBnBs. With rental properties they bought up when the market was favorable. The makeup of the Kentucky State Legislature

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Municipalities banning air bnbs is retarded and a political handover to hoteliers. A man should be able to rent his house to anyone if his tenants abide by local laws.

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This part is crazy. My neighbor does this, rents a big one and invites family to split it. I still don't get the fun part. You're in a high rise apartment that happens to have a water view. IF you want to go swimming, you ride an elevator down 20 floors to the beach and cram yourself onto the sand with a buttload of other people. Sounds awful.

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Meh, better than most lots in life.

That said, I do not get why people pay these sums to go to mediocre places like the Florida panhandle. For $10k, you can take a family of 5 all over the Americas and rent badass homes, flights included

I did a week in Panama, 5 days sailing, 2 days in Panama City eating at high end restaurants, for less than most people spend on a week in a condo in the panhandle of Florida.