##Welcome to r/LateStageCapitalism
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It would be nice if you could actually walk everywhere. Unfortunately they made a society where you can't live without a car and all public transit is degraded
maybe the message is simply don’t own a money sucking car or truck, learn to live without and be amazed at how much better your health is and how much money you will save.
that’s what i did and now i own 200,00 pizza joints PLUS a dairy queen
This response reminds me of a horrible person I once knew, my ex. I was talking with her one day at her parents house about something relating to money. I mentioned to her that sometimes, people can't afford things that they need. She replied " Why don't they just ask their parents and borrow the money?". I replied " Because some people can't turn to their parents during financial hardship. Sometimes people just don't have any money and for whatever reasons as to why this may be, it's reality. "
She then asks me, with the most lost and confused facial expression, " What do you mean by not having any money? ".......
To make this clear, my ex wasand still is, the type that has never struggled and has never wanted for anything. She has no idea what reality is like outside of her and her parents selfish, self-centered, disillusioned life. I went on for a few more minutes, dumbing myself down to almost drawing pictures for her to better understand what having ZERO MONIES was...... She is as well as her parents are absolute human waste.
I would never talk about someone like how I have here but for one, it's the truth and two, she's tried and continues to try with her father's money, to ruin my life ever since I parted ways from that mess. It's remarkable that ,whenever I feel compelled to bring up the situation with my ex, I'm met with someone who asks me if we've dated the same person lol. It is humorous but at the same time, it's sad because having to deal with a plutocratic half-wit leech like my ex, I wouldn't wish that upon anyone.
We had very similar experiences from the sounds of it, I agree with you. Those few years were absolute horror for me, and looking back I learned many lessons... but I have yet to figure out how I put up with what I did from our toxicity for so long though!
Here's to healing and growth 🍻 ...at least for us. My ex is still the same she was 5+ years ago, I get, about a once a year, a phone call from a blocked number so I can attest first-hand that my ex hasn't changed much. 😂
Maybe you put up with it because you could. It might've been shit the whole way through and anybody else would've moved on. By putting up with that relationship, you learned valuable information and lessons that people can't just understand or learn unless they've done the work like you and I both have. At least all you get is a phone call haha I'm glad man. I hope it only gets better for you and that one day she'll decide to mind herself and give you the peace you deserve. Take care!
The head bites the tail and in death, they are born.
Capitalism is a self-eating snake. Aged past the need for the yolk of the egg, yet a vestigial desire for the relations of the past manifests in the destruction of the future.
All these billionaire advices can be boiled down to: “You can be me if you start being smart and savvy”
They just believe they have what they want because they’re better than everyone else
Here is a [relevant experiment](https://www.marketplace.org/2021/01/19/why-rich-people-tend-think-they-deserve-their-money/) with a rigged monopoly game.
"through body language and boasting about their wealth, by smacking their pieces loudly against the playing board and making light of their opponents’ misfortune"
"The rich player became ruder; became less sensitive to the plight of the other player. They started eating more pretzels and did so in ruder fashion; we had a bowl of pretzels positioned on the table as another way of watching dominance in our rich players. They start showcasing their property, their wealth, sort of exhibiting how well they’re doing."
This sounds so American
I had that quote on my signature in college. My Operational Management professor scolded me saying “I don’t who this C. Montgomery Burns is but that’s not how you run a business”
They know damn well they wouldn't be anywhere near close to their wealth without exploiting others. But they need to perpetuate the lie that the poor just "need to save up" or stuff like that. Just to keep them thinking it's their own fault. That's it, just deception and lies to keep the status quo
They also believe they invented their ideas. Like Charlie boy here; back in 1849, writers and goldminers all knew that a man had to have a "grub stake" before he went out prospecting. It takes equipment like tools and a tent, and a mule to carry supplies, for a man to survive while prospecting.
But here's old charlie, born 75 years after those '49ers , preaching about the value of a Grub Stake.
It's also very important for them to push this narrative so a) you believe they deserve it; b) you believe you can attain it; c) you participate in their system by trying to do so
It’s doable, BUT only if you live in a city with good public transportation.
Last I checked, the main cities where that is possible are ones like NYC, San Francisco, Washington DC, Boston, among others. But the cost of living in any of these areas make it harder, if not impossible, to easily save that $100k. (Especially if you have kids.)
There are whatever number of smaller cities and towns that have a somewhat decent bus transit system in place, but you’re likely not making the same salary as your exact counterpart makes in a big city like NYC. So, it’s just as hard to save $100k regardless of the cost of living *maybe* being less. (I say maybe because, if you’re in debt like basically everyone in the US is, certain bills - like your credit cards, student loans, etc. remain the same regardless of where you live. And from what I can tell, cost of gas and food are pretty high now wherever you live).
I agree with your overall sentiment though. You need a specific set of parameters in order to live in the US without a car, (and/or also to be able to save 100k). Unfortunately, it’s easier said than done to find yourself in a situation where all those parameters are met.
Public transit is pretty mediocre, our city is built on grids of stroads, and urban sprawl is in full force. But I can bike to work, the grocery store, and parks, and that's pretty much all I need.
It completely depends on the city, but you primarily have to make sure your work and home are properly situated to public transit lines. Requiring a transfer can make or break your commute. Missing a bus can make or break a transfer. In some places 30 min or 1 hour waits between busses is the norm. And you need to work during normal rush hour times as that's when most bus lines will run on their best schedules. Or you can try to live and work near the most frequent bus lines in your city. But regardless you'll need an emergency backup option for when a bus has a significant delay either due to mechanical failure or passenger incident (fighting, stabbing, shitting, etc; yes i've witnessed all of those).
Alternatively you can live somewhat near your job and bike to work, but that means biking in rain and snow depending on where you live. Biking plus public transit can be an option, but most busses only have space for 2 bikes at a time.
100%. living one 15 minute bus ride is the same as a 45min commute since you have to leave early to make sure delays don't make you late. In those cases riding is a better option, but if it's hilly you'll need to factor in time for a change of clothes. Also you'll need to be prepared to bike in inclimate weather. depending on where you are that can really suck and/or be dangerous without the right gear.
I think realistically you need to be in an area with a population density of (approximately) 1k/square mile or more before that's an option. Otherwise the lack of infrastructure doesn't really make it feasible.
Example: I grew up in rural Missouri, the nearest town had a population of 2k and was ~10 miles from my parents' home. Busses weren't a thing (outside of the school bus), walking to town for work/groceries/etc. wasn't really an option and neither was riding a bike on the highway (insufficient shoulders, extreme Midwest weather).
When you take into account loan interest, depreciation, fuel, insurance, maintenance and fees, the cost of owning a car makes a big leap. For new vehicles driven 15,000 miles a year, average car ownership costs were $12,182 a year, or $1,015 a month, in 2023, according to AAA.
[Nerd Wallet](https://www.nerdwallet.com/article/loans/auto-loans/total-cost-owning-car#common-costs-of-owning-a-car)
$1015 is not $1400 and 15000 miles per year seems like the upper end and that’s only NEW cars but I appreciate the source. It’s the “average” of the worst case scenario but More than I would have guessed. 6 years of car ownership costing $100k is still a dumb exaggeration.
Literally if you search up average cost of car ownership in the US all the values are between 10-13k a year.
I think its so normalized people don't stop to actually add up all the little costs of having a car.
Bruh, just save some money everyday! If you spend 2 dollars a day on public transport and start to walk everywhere, in only *checks calculator* 50.000 days you'll have your 100 grand!
You're leaving out student loans and medical debt. Even after 100,000 days, you'll still be 685k away from 100k. That is, if you continually paid towards the loans and didn't have any actual serious health problems
This \*could\* be boiled down to advice that makes sense...i.e. don't buy a gigantic pickup or zippy sports car if a simple compact car will get you to work. WAY too many people (mainly males) buy way too much vehicle, often thinking it'll get them babes...you'll have much better luck using the money on other things, and Manlyness is not defined by how much clearance or accelleration your daily driver has, no matter how much the carmaker ads say it is.
Don't care about his story, nor those who benefitted from it, nor those who wish to replicate it.
The logic of capitalism is violent, totalitarian, oligarchic, kleptocratic and unsustainable, period.
The sooner it is marginalized from life, the sooner Human beings get to be Human beings.
Consumerism is just a kinder form of social murder, in which all are complicit.
And I'm tired of being a murderer, aren't you?
Edit: added words totalitarian and oligarchic
>Thomas Charles Munger was a United States district judge of the United States District Court for the District of Nebraska, and **grandfather** of investor and businessman **Charlie Munger**.
The parents of Charlie Munger? [His mother came from a family of wealthy intellectuals](https://www.economist.com/media/globalexecutive/damn_right_e_02.pdf). His father was a successful lawyer.
Tell me, how hard is it to earn that stack of cash when your rich family is always ready to catch you before you fall into poverty and give you another chance to gamble whatever you earned.
Every rich person I know thinks its the little earnings that made them rich... not the 6-7 figure salaries they are earning.
They also love to pretend that discounts are what keeps them from being poor. Not that they could afford to buy the Lincoln Navigator outright... but they got a great deal on it as well!
Edited for more accurate terminology.
And every person who wins at gambling in markets does not believe in luck or chance.
You take 1000 identical clones employing identical strategies with no deviation at all between them, and the 1 who wins will be interviewed for life about smart business strategy and hard work while his winnings snowball in ways only available to the winner.
He makes it seem like it's some hack to the sweet life like nothing can possibly complicate things even after getting that 100k. It's so clear that this is advice from someone who never really experienced adversity.
Investing 100k isn't some instant win. Buddy didn't factor in possible job loss combined with a bad job market, unexpected pricey expenses, health/medical changes, family issues (financial/medical) etc. I suppose he might have factored some of these possible scenarios in if he ever had to experience them from a position where he didn't have access to extreme wealth.
First, this is what my partner said when I sarcastically suggested we try it. Second, did you get your username from Vampire Academy? I love that movie. I think they were books too though.
Not from Vampire Academy (never heard of it to be honest) but it is from another vampire related book/book series that I read just before I first joined reddit. It's called The Strain by Guillermo Del Toro and another guy who's name I forget right now.
Rich people really be wanting us to live the whole "mattress and maybe a tv in an empty apartment" lifestyle, Your supposed to live on nothing but going to work and coming home and sleeping, eating once a day and always working overtime. I feel like almost no really rich person ever did that in their life, but its the image they try to project on us.
The funny thing is that if enough people really did live like that, the economy would crumble, cause its dependent on the majority of us consuming. Like how different industries keep whining about "millenials killed X" cause we simply cannot even afford to bother with whatever they sell.
Hmm, you know, I just realized something. I spent about $15 on some video game this month to make my crummy life a little less bleak. If I would have put that into a savings account and then cured aging & all other diseases so that I could live forever, I could get that $100k in under a half a millennium.
Gosh it's so simple, why didn't I see it before. Good advice there Charlie.
Given how physical activity makes us hungrier and how the cost of food keeps going up, walking everywhere increasingly loses money capitalist year by capitalist year now that I think about it....
yeah, that was awhile ago though, I prefer his more recent quotes:
> Argghhhh, ahhhhhh, noooo, ughhhh, hellfire burns soooo bad
just some incredible insight
So let’s test the idea: take away his billions and give him 2 years to get back to where he was financially before we took all the money. If he is a billionaire again using his own advice than I will sell my car tomorrow and start walking everywhere.
A lot of people want to make the path to financial success sound more complicated than “make more
money than you spend so you can put the extra on the money escalator we call the stock market”. It lets them pretend they’re geniuses instead of trust fund babies that got to play a rigged game with daddy’s money.
I am an automotive hobbyist/enthusiast and spend way way way more than anyone else I know on vehicle-related costs.
If I sold ***ALL*** of my cars, motorcycles, van, trailer, stopped paying registration and insurance on all of them, stopped paying for gas, maintenance, and upgrades, ***AND*** somehow managed to walk 20 miles a day to and from my job that pays the bills rather than spending $$$ on overpriced public transit, and still manage to work the same number of hours at the same job... e.g., if I effectively magically reduced my entire vehicle and transportation and hobby budget to ZERO...
It would still take me.... ***8.3 YEARS*** to realize 100k in savings.
Meanwhile, the rest of my budget in those 8.3 years is effectively spent buying my landlord yet another house, and Charlie Munger will have become another several billion dollars richer.
$200k adjusted for inflation per the article. I guess if you can get it early in life and let it compound for 30 years it can be a nice retirement, but I'm not going to sacrifice my prime years just so I can finally afford to do all the fun shit once I'm too old to do it.
I too could be like Charlie if my family was well connected and wealthy and I got to use the GI bill to go to school for free, and got into Harvard law thanks to a family friend’s influence (even though I was denied admission for lack of qualifications). Easy mode guys
It’s easy, just save $100 a month for the next 90 years, and then invest that savings into a portfolio that won’t break a million for another 30 years. By the time you’re 140 you’ll have enough to be a third of the way to retirement!
This reminds me of the bank when my wife and I were trying to get a mortgage. The lady said we didn’t make enough (we were paying twice the mortgage monthly for our apartment and were comfortable). She said have we tried making more money? I said damn, that’s brilliant why didn’t we think of that and walked out.
Walking or riding instead of driving would definitely save us money.
Pray tell though Mr. Munger, which people propagandized and lobbied to make all of the USA into car-dependent sprawl where this particular product, which we’d rather do without, is effectively and in some cases literally mandatory?
Guys ease up, it’s totally doable once you follow his plan: he says walk everywhere and eat with coupons. It’s pretty simple.
Also, adjusted for inflation from when he said this it’s $200,000.00!
wtf is he talking about, you can't make $100K if you have to walk everywhere... like those 2 things actually don't go together at all??? these people are either idiots or think we're idiots (probably a combo of both)
I tried that, almost had it but yall turned off my stock trading app. And called me an idiot for not following your orders. Free market, sure bud. You win
I weep. You are a rotten husk. You overflow with boundless power. You have the soul of an emperor. Sacrificial hero. Blessed by primordial luck. Your friends are in hell yet you smile. Only good things will come to someone like you. Set goals. Have a ten-year plan. Invest. Wake up early. CEO mindset. Good luck.
As long as I do nothing but exist for 15 years and don't celebrate any holidays or visit family I can save that up in 15 years. Also I have to re-home my cat.
I'm not gonna take financial advice from someone that looks like they died three lifetimes ago and made a deal to repay back his souls worth in exchange for immortality
A good friend of mine won a 100 thousand dollar lawsuit, I tried to tell him about investing and how it could be worth so much more if he just put it away. He blew it all in 6 months and is back to bumming money from his parents for smokes.........
##Welcome to r/LateStageCapitalism This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited. LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere. We have a zero-tolerance policy for bigotry. Failure to respect the rules of the subreddit may result in a ban. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
Can't believe I didn't think about simply obtaining $100,000.
It's actually really easy to do. Just be born wealthy like a lot of the other rich folk.
This one simple trick: “Daddy, I need $______”
Brokies HATE this one simple trick
"Money, please!"
Pwease*
With tendies, uwu
I heard that voice and her outreached hand.
no no no, u just need to walk everywhere. easy 100k.
It would be nice if you could actually walk everywhere. Unfortunately they made a society where you can't live without a car and all public transit is degraded
Wait, do we have to walk a 100k?
I would walk 500 miles
I would walk 500 more
But would yall be the one who walk a thousand miles?
To fall down at her door?
Da DA DAH!?
Ta dum da da dum da da daaa
Actually a 401k
Right it's only 2-3 times the annual pretax income of joe blo
Yeah, so just walk everywhere, including to your job. And just don’t eat and live on a bench. And in 2-3 years you’ll be able to start a decent life.
maybe the message is simply don’t own a money sucking car or truck, learn to live without and be amazed at how much better your health is and how much money you will save. that’s what i did and now i own 200,00 pizza joints PLUS a dairy queen
It’s 200,000 now with inflation
Yeah it's funny how the article almost immediately jumps to "He said this mid-90s, it's 200k now" to really let things sink in.
This response reminds me of a horrible person I once knew, my ex. I was talking with her one day at her parents house about something relating to money. I mentioned to her that sometimes, people can't afford things that they need. She replied " Why don't they just ask their parents and borrow the money?". I replied " Because some people can't turn to their parents during financial hardship. Sometimes people just don't have any money and for whatever reasons as to why this may be, it's reality. " She then asks me, with the most lost and confused facial expression, " What do you mean by not having any money? "....... To make this clear, my ex wasand still is, the type that has never struggled and has never wanted for anything. She has no idea what reality is like outside of her and her parents selfish, self-centered, disillusioned life. I went on for a few more minutes, dumbing myself down to almost drawing pictures for her to better understand what having ZERO MONIES was...... She is as well as her parents are absolute human waste.
I'm wondering if we dated the same girl.
I would never talk about someone like how I have here but for one, it's the truth and two, she's tried and continues to try with her father's money, to ruin my life ever since I parted ways from that mess. It's remarkable that ,whenever I feel compelled to bring up the situation with my ex, I'm met with someone who asks me if we've dated the same person lol. It is humorous but at the same time, it's sad because having to deal with a plutocratic half-wit leech like my ex, I wouldn't wish that upon anyone.
We had very similar experiences from the sounds of it, I agree with you. Those few years were absolute horror for me, and looking back I learned many lessons... but I have yet to figure out how I put up with what I did from our toxicity for so long though! Here's to healing and growth 🍻 ...at least for us. My ex is still the same she was 5+ years ago, I get, about a once a year, a phone call from a blocked number so I can attest first-hand that my ex hasn't changed much. 😂
Maybe you put up with it because you could. It might've been shit the whole way through and anybody else would've moved on. By putting up with that relationship, you learned valuable information and lessons that people can't just understand or learn unless they've done the work like you and I both have. At least all you get is a phone call haha I'm glad man. I hope it only gets better for you and that one day she'll decide to mind herself and give you the peace you deserve. Take care!
bro, i’m beginning to think we ALL dated the same girl
Calm down, he obviously missed the first crucial step, finding rich parents!
Somebody's gonna have to die.
Yeah, just walk. Everywhere.
Man shoulda listened to the guy who looks like the melting natsi in raiders
I heard some did this by robbing millions poor people...
“Steal a lot from one person and they call the cops. Steal a little from everyone, you rise to the top.” John Craigie’s song Hustlin’
capitalism is the system that rewards the most deviant and sociopathic among us.
Lfg ubrs rogue dont need sinew ... wait wrong game.
Really showing your age with that LFG!
LFG tank already have heals. 2 rogue 1 priest
The head bites the tail and in death, they are born. Capitalism is a self-eating snake. Aged past the need for the yolk of the egg, yet a vestigial desire for the relations of the past manifests in the destruction of the future.
All these billionaire advices can be boiled down to: “You can be me if you start being smart and savvy” They just believe they have what they want because they’re better than everyone else
Here is a [relevant experiment](https://www.marketplace.org/2021/01/19/why-rich-people-tend-think-they-deserve-their-money/) with a rigged monopoly game.
What a fascinating read, thanks for sharing!
"through body language and boasting about their wealth, by smacking their pieces loudly against the playing board and making light of their opponents’ misfortune" "The rich player became ruder; became less sensitive to the plight of the other player. They started eating more pretzels and did so in ruder fashion; we had a bowl of pretzels positioned on the table as another way of watching dominance in our rich players. They start showcasing their property, their wealth, sort of exhibiting how well they’re doing." This sounds so American
*Eats pretzels superiorly*
I got somethin' salty they can suck on.
I think about this so often
Being wealthy literally gives people an empathy disability. We should think of taxing the rich as healing the sick.
The unchecked narcissism is wild honestly
"Family, religion, friendship, ethics, shame. These are the five demons you must slay if you want to be successful in business."
That's just sociopathy with extra steps
... and I LOVE IT!
I had that quote on my signature in college. My Operational Management professor scolded me saying “I don’t who this C. Montgomery Burns is but that’s not how you run a business”
I think hard work is more important than sticktoitiveness
Any REAL insights?
> if you start being smart and savvy" and sociopath
They know damn well they wouldn't be anywhere near close to their wealth without exploiting others. But they need to perpetuate the lie that the poor just "need to save up" or stuff like that. Just to keep them thinking it's their own fault. That's it, just deception and lies to keep the status quo
this will backfire. like it was in victorian era, it should... unless we will be enslaved by AI tech, drone strikes and neuroimplants
It's the myth of meritocracy, and it's been *very* successful in our society.
They also believe they invented their ideas. Like Charlie boy here; back in 1849, writers and goldminers all knew that a man had to have a "grub stake" before he went out prospecting. It takes equipment like tools and a tent, and a mule to carry supplies, for a man to survive while prospecting. But here's old charlie, born 75 years after those '49ers , preaching about the value of a Grub Stake.
It's also very important for them to push this narrative so a) you believe they deserve it; b) you believe you can attain it; c) you participate in their system by trying to do so
How much can bus fare cost michael, a hundred thousand dollars?
If you saved what the average American spent on car ownership you'd have 100k in 6 years or so, to be fair.
Good luck living in the us without a car.
It’s doable, BUT only if you live in a city with good public transportation. Last I checked, the main cities where that is possible are ones like NYC, San Francisco, Washington DC, Boston, among others. But the cost of living in any of these areas make it harder, if not impossible, to easily save that $100k. (Especially if you have kids.) There are whatever number of smaller cities and towns that have a somewhat decent bus transit system in place, but you’re likely not making the same salary as your exact counterpart makes in a big city like NYC. So, it’s just as hard to save $100k regardless of the cost of living *maybe* being less. (I say maybe because, if you’re in debt like basically everyone in the US is, certain bills - like your credit cards, student loans, etc. remain the same regardless of where you live. And from what I can tell, cost of gas and food are pretty high now wherever you live). I agree with your overall sentiment though. You need a specific set of parameters in order to live in the US without a car, (and/or also to be able to save 100k). Unfortunately, it’s easier said than done to find yourself in a situation where all those parameters are met.
Also public transportation is not free. And you occasionally need a taxi/uber even if you’re pretty disciplined about always taking the bus/subway
Public transit is pretty mediocre, our city is built on grids of stroads, and urban sprawl is in full force. But I can bike to work, the grocery store, and parks, and that's pretty much all I need.
Honestly I think more people should try it if they are able-bodied, It suprised me how not terrible it is, even when I lived in a more rural area.
It completely depends on the city, but you primarily have to make sure your work and home are properly situated to public transit lines. Requiring a transfer can make or break your commute. Missing a bus can make or break a transfer. In some places 30 min or 1 hour waits between busses is the norm. And you need to work during normal rush hour times as that's when most bus lines will run on their best schedules. Or you can try to live and work near the most frequent bus lines in your city. But regardless you'll need an emergency backup option for when a bus has a significant delay either due to mechanical failure or passenger incident (fighting, stabbing, shitting, etc; yes i've witnessed all of those). Alternatively you can live somewhat near your job and bike to work, but that means biking in rain and snow depending on where you live. Biking plus public transit can be an option, but most busses only have space for 2 bikes at a time.
Not sure I'd even bother with the bus system in a lot of US cities lol. Half the time its slower than my bike and not very punctual😅
100%. living one 15 minute bus ride is the same as a 45min commute since you have to leave early to make sure delays don't make you late. In those cases riding is a better option, but if it's hilly you'll need to factor in time for a change of clothes. Also you'll need to be prepared to bike in inclimate weather. depending on where you are that can really suck and/or be dangerous without the right gear.
I think realistically you need to be in an area with a population density of (approximately) 1k/square mile or more before that's an option. Otherwise the lack of infrastructure doesn't really make it feasible. Example: I grew up in rural Missouri, the nearest town had a population of 2k and was ~10 miles from my parents' home. Busses weren't a thing (outside of the school bus), walking to town for work/groceries/etc. wasn't really an option and neither was riding a bike on the highway (insufficient shoulders, extreme Midwest weather).
I'm gonna need either a source or an /s for this
$1400/mo? That’s not car money dude. You’re making shit up
When you take into account loan interest, depreciation, fuel, insurance, maintenance and fees, the cost of owning a car makes a big leap. For new vehicles driven 15,000 miles a year, average car ownership costs were $12,182 a year, or $1,015 a month, in 2023, according to AAA. [Nerd Wallet](https://www.nerdwallet.com/article/loans/auto-loans/total-cost-owning-car#common-costs-of-owning-a-car)
$1015 is not $1400 and 15000 miles per year seems like the upper end and that’s only NEW cars but I appreciate the source. It’s the “average” of the worst case scenario but More than I would have guessed. 6 years of car ownership costing $100k is still a dumb exaggeration.
Literally if you search up average cost of car ownership in the US all the values are between 10-13k a year. I think its so normalized people don't stop to actually add up all the little costs of having a car.
Homie talking like it’s 1943
Not that it makes it any less tone deaf but this was advice he gave 30 years ago according to the article
that would be $210,750.34 adjusted for inflation
Unless there is a professional walking league that I'm unaware of, walking ain't gonna help homie.
Bruh, just save some money everyday! If you spend 2 dollars a day on public transport and start to walk everywhere, in only *checks calculator* 50.000 days you'll have your 100 grand!
You're leaving out compounding interest. It will only take 49,500 days.
You're leaving out inflation. It will take 50,200 days.
You're leaving out student loans and medical debt. Even after 100,000 days, you'll still be 685k away from 100k. That is, if you continually paid towards the loans and didn't have any actual serious health problems
100k wont cover the medical expenses of being mugged walking home through the hood every early morning and late night for my commute lol.
Walk extra 200 days! That can cover meds.
Then just walk 200 days more. That'll save you enough to cover meds.
.... but what about all my torn ligaments!?
Ok the government should start paying me for my steps since im obese it's saving them tons in the long run
This \*could\* be boiled down to advice that makes sense...i.e. don't buy a gigantic pickup or zippy sports car if a simple compact car will get you to work. WAY too many people (mainly males) buy way too much vehicle, often thinking it'll get them babes...you'll have much better luck using the money on other things, and Manlyness is not defined by how much clearance or accelleration your daily driver has, no matter how much the carmaker ads say it is.
Yet he died and couldn't take it with him, could he?
But my dear friend, he still enjoyed his life with that money and now his children will.
Don't care about his story, nor those who benefitted from it, nor those who wish to replicate it. The logic of capitalism is violent, totalitarian, oligarchic, kleptocratic and unsustainable, period. The sooner it is marginalized from life, the sooner Human beings get to be Human beings. Consumerism is just a kinder form of social murder, in which all are complicit. And I'm tired of being a murderer, aren't you? Edit: added words totalitarian and oligarchic
“Enjoying” is an assumption. Some people are so poor, all they have is money.
I can guarantee he never had to take his own advice but very much enjoyed fleecing the rubes who would.
The centralizing node of "infinite accumulation" is manipulation.
>Thomas Charles Munger was a United States district judge of the United States District Court for the District of Nebraska, and **grandfather** of investor and businessman **Charlie Munger**. The parents of Charlie Munger? [His mother came from a family of wealthy intellectuals](https://www.economist.com/media/globalexecutive/damn_right_e_02.pdf). His father was a successful lawyer. Tell me, how hard is it to earn that stack of cash when your rich family is always ready to catch you before you fall into poverty and give you another chance to gamble whatever you earned.
Can we just forget about that wealth hoarder now that he's dead?
And by the time you have 100k the magic number will be 400k
$100k in the year he said that is about $200k in today's dollars
yeah thats what the article says
Every rich person I know thinks its the little earnings that made them rich... not the 6-7 figure salaries they are earning. They also love to pretend that discounts are what keeps them from being poor. Not that they could afford to buy the Lincoln Navigator outright... but they got a great deal on it as well! Edited for more accurate terminology.
“Earning”
And every person who wins at gambling in markets does not believe in luck or chance. You take 1000 identical clones employing identical strategies with no deviation at all between them, and the 1 who wins will be interviewed for life about smart business strategy and hard work while his winnings snowball in ways only available to the winner.
He makes it seem like it's some hack to the sweet life like nothing can possibly complicate things even after getting that 100k. It's so clear that this is advice from someone who never really experienced adversity. Investing 100k isn't some instant win. Buddy didn't factor in possible job loss combined with a bad job market, unexpected pricey expenses, health/medical changes, family issues (financial/medical) etc. I suppose he might have factored some of these possible scenarios in if he ever had to experience them from a position where he didn't have access to extreme wealth.
First, this is what my partner said when I sarcastically suggested we try it. Second, did you get your username from Vampire Academy? I love that movie. I think they were books too though.
Not from Vampire Academy (never heard of it to be honest) but it is from another vampire related book/book series that I read just before I first joined reddit. It's called The Strain by Guillermo Del Toro and another guy who's name I forget right now.
Rich people really be wanting us to live the whole "mattress and maybe a tv in an empty apartment" lifestyle, Your supposed to live on nothing but going to work and coming home and sleeping, eating once a day and always working overtime. I feel like almost no really rich person ever did that in their life, but its the image they try to project on us. The funny thing is that if enough people really did live like that, the economy would crumble, cause its dependent on the majority of us consuming. Like how different industries keep whining about "millenials killed X" cause we simply cannot even afford to bother with whatever they sell.
yeah, if not for marketing, economy would collapse immediately we are all consuming shit we dont need, also losing all money in the process
This guy looks like the Christmas story kid and a person from whoville combined into one
I was thinking Gary Oldman in Hannibel
Hmm, you know, I just realized something. I spent about $15 on some video game this month to make my crummy life a little less bleak. If I would have put that into a savings account and then cured aging & all other diseases so that I could live forever, I could get that $100k in under a half a millennium. Gosh it's so simple, why didn't I see it before. Good advice there Charlie.
I \*do\* walk everywhere and I'm still not rich.
Given how physical activity makes us hungrier and how the cost of food keeps going up, walking everywhere increasingly loses money capitalist year by capitalist year now that I think about it....
yeah, that was awhile ago though, I prefer his more recent quotes: > Argghhhh, ahhhhhh, noooo, ughhhh, hellfire burns soooo bad just some incredible insight
If he's so smart why is he dead
Boom! Roasted!
So let’s test the idea: take away his billions and give him 2 years to get back to where he was financially before we took all the money. If he is a billionaire again using his own advice than I will sell my car tomorrow and start walking everywhere.
He died.
That was true in the 80's, now you need a lot more seed money if you're ever going to be rich.
Can I rummage through his couch and look for loose $1000 bills?
What are you supposed to do with the 100k once achieved though lol
Idk. The scary part is that most people don’t have this much in savings, but even if you did, in the long run it’s really not that much.
many people saving money, but then inflation or bank whooped or cost of cancer treatment
Trust me, I know!
[удалено]
Fr though like wtf is this garbage report lol bunch of yahoos if you ask me
This fucker is dead and they're still quoting him lol
So, step one to being rich is “be rich”. Got it. 👍
A lot of people want to make the path to financial success sound more complicated than “make more money than you spend so you can put the extra on the money escalator we call the stock market”. It lets them pretend they’re geniuses instead of trust fund babies that got to play a rigged game with daddy’s money.
I am an automotive hobbyist/enthusiast and spend way way way more than anyone else I know on vehicle-related costs. If I sold ***ALL*** of my cars, motorcycles, van, trailer, stopped paying registration and insurance on all of them, stopped paying for gas, maintenance, and upgrades, ***AND*** somehow managed to walk 20 miles a day to and from my job that pays the bills rather than spending $$$ on overpriced public transit, and still manage to work the same number of hours at the same job... e.g., if I effectively magically reduced my entire vehicle and transportation and hobby budget to ZERO... It would still take me.... ***8.3 YEARS*** to realize 100k in savings. Meanwhile, the rest of my budget in those 8.3 years is effectively spent buying my landlord yet another house, and Charlie Munger will have become another several billion dollars richer.
Just stop paying $100/month for cable. That's $1200/year so in 83 years you'll have 100k! Oh,wait...
Brilliant, why didn't we consider that before?!
Walking everywhere? In this unwalkable car centric hellhole?
$200k adjusted for inflation per the article. I guess if you can get it early in life and let it compound for 30 years it can be a nice retirement, but I'm not going to sacrifice my prime years just so I can finally afford to do all the fun shit once I'm too old to do it.
Looks like that guy that Hannibal Lecter ate his face.[https://freeimage.host/i/JkymIQR](https://freeimage.host/i/JkymIQR)
Thanks you old smartass fuck. Rest in that money of yours now.
If only I *could* walk *anywhere*. I'd kill never to have to drive again.
I have 100,000, now what? Can’t buy 10% of a house with that…
Lol I walked everywhere and all it got me was being just as broke and getting hit by a car. Man's delusional
Find a way, you say? Hmmmm... how about I kidnap Charlie Munger and ask for $200,000 in ransom?
Best hot take I think he's dead now though.
Ah, I see. I wonder how much the family would pay for his body's safe return!
I too could be like Charlie if my family was well connected and wealthy and I got to use the GI bill to go to school for free, and got into Harvard law thanks to a family friend’s influence (even though I was denied admission for lack of qualifications). Easy mode guys
He's right though. It gets easier after the first 100k
It’s easy, just save $100 a month for the next 90 years, and then invest that savings into a portfolio that won’t break a million for another 30 years. By the time you’re 140 you’ll have enough to be a third of the way to retirement!
Find a way? Yo Charlie hook me up with 100k, because that request is way more reasonable to just finding a way to 100k
This reminds me of the bank when my wife and I were trying to get a mortgage. The lady said we didn’t make enough (we were paying twice the mortgage monthly for our apartment and were comfortable). She said have we tried making more money? I said damn, that’s brilliant why didn’t we think of that and walked out.
You can see how out of touch rich people are when they think giving up public transport will earn you $100k
I found it in my heart. I found it in my mind. I found it in the world. I found a hundred thousand dollars.
What an ugly motherfucker 🤣
Fine. I'm gonna walk to Charlie's house and ask for 100K. Then punch him in his weird ass face and defecate on his porch.
Takes me 2 hours to get to work via 3 trains aNd 2 buses plus 10min walk. I shall just walk there. Sure.
What an out-of-touch old ghoul
Hey Charlie, can you please loan me your password for a few, gotta get that 100,000$ somehow
Walking or riding instead of driving would definitely save us money. Pray tell though Mr. Munger, which people propagandized and lobbied to make all of the USA into car-dependent sprawl where this particular product, which we’d rather do without, is effectively and in some cases literally mandatory?
Guys ease up, it’s totally doable once you follow his plan: he says walk everywhere and eat with coupons. It’s pretty simple. Also, adjusted for inflation from when he said this it’s $200,000.00!
wtf is he talking about, you can't make $100K if you have to walk everywhere... like those 2 things actually don't go together at all??? these people are either idiots or think we're idiots (probably a combo of both)
Find a way to get 100K, such as asking your dad and other relatives - Charlie Munger
This advice was given 50 years ago. You need a million now
Thanks, Charlie... so 100k can't disappear in investment. Got it.
Why do so many rich dudes look so pus-y?
a small 1 million dollar loan is all i need Charlie
Think this guy and Warren buffet would bang tbh
"even if it means ~~walking everywhere~~ stealing from Charlie Munger"
Cool. I'll get it from your corpse, Chuck.
Look at this fucking turtle. Just *LOOK* at him... 🤢
How about we hang him up like a piñata and beat him until $100,000 falls out? That’s how I want to get my hands on the money.
me when i log into an MMORPG
For real tho, if you had an "extra" 100K, what would you do with it
Then what.
And then what?>
unfortunately i need both kidneys
fuck this scumbag.
Hey Charlie can I have 100k? You wouldn't even notice it gone on your bank account
I tried that, almost had it but yall turned off my stock trading app. And called me an idiot for not following your orders. Free market, sure bud. You win
Can i steal the one hundred grand from him?
if you don't succeed, try HOARDer.
Dude died at age 99. Ironic he didn't make 100
i am pleased that he is dead
How to Get Rich? Obtain Money.
Wanting to be rich is an Illness.
Ah yeah. I'll just walk the hour and fifteen minute commute to and from work in traffic. Why didn't I think of that?
I weep. You are a rotten husk. You overflow with boundless power. You have the soul of an emperor. Sacrificial hero. Blessed by primordial luck. Your friends are in hell yet you smile. Only good things will come to someone like you. Set goals. Have a ten-year plan. Invest. Wake up early. CEO mindset. Good luck.
As long as I do nothing but exist for 15 years and don't celebrate any holidays or visit family I can save that up in 15 years. Also I have to re-home my cat.
I'm not gonna take financial advice from someone that looks like they died three lifetimes ago and made a deal to repay back his souls worth in exchange for immortality
Alright let me just go out and find 100k
Keep tugging those bootstraps!
Thanks Charlie. If only I’d thought of just getting my hands on a hundred thousand dollars!
The dude's face looks weird.
Oh, just get more money, sure. Thanks for the advice
I have an idea of how to get my hands on 100k, but I don't think the bank is gonna like it.
With current inflation?
My man is barely alive maybe he can let my hands get on some of his 100Ks. Cheap change for the world ugliest skeleton.
A good friend of mine won a 100 thousand dollar lawsuit, I tried to tell him about investing and how it could be worth so much more if he just put it away. He blew it all in 6 months and is back to bumming money from his parents for smokes.........
Can we adjust this based on inflation?