Ohhh Freddie boy

[Ron G]

So I read the rest of your post, and using your logic, if I’m worth $3.5 million, I’m the equivalent of a college football team who finished first or second in the nation. And since the $3.5 million was just an estimate for the IRA and the 401K, if the actual net worth was significantly higher than just my retirement accounts, would that have you equating me to the #1 team in the country? Or at a minimum, the #2 team in the country?

On a percentage basis you are. If there were 330,000,000 teams, you would be in the top 5,500,000 of those teams. I made an analogy that is uses smaller number to show percentage basis that is more easily relatable.
I am assuming you attended Notre Dame. I am confident that you understand that $3,500,000 in next worth is not a "moderate" amount.
Even as high a quality academic institution as ND is, I would bet (although no way to actually confirm), that not even 1.5 % of ND grads are in the $3.5 million of net worth category. I know at least 15 graduates of ND (two I hired for my department) and two others who are graduates of the Mendoza Business School, and they don't approach the $3.5 million level.

 

[Irish7478]

On a percentage basis you are. If there were 330,000,000 teams, you would be in the top 5,500,000 of those teams. I made an analogy that is uses smaller number to show percentage basis that is more easily relatable.
I am assuming you attended Notre Dame. I am confident that you understand that $3,500,000 in next worth is not a "moderate" amount.
Even as high a quality academic institution as ND is, I would bet (although no way to actually confirm), that not even 1.5 % of ND grads are in the $3.5 million of net worth category. I know at least 15 graduates of ND (two I hired for my department) and two others who are graduates of the Mendoza Business School, and they don't approach the $3.5 million level.

while this thread has been very good for my ego, I just have to look at the three guys that I roomed with to see that $3.5 million of net worth would not be that impressive. I find it hard to believe that my one room happened to contain four guys that exceeded the net worth of 400-600 average ND students.

 

[Ron G]

while this thread has been very good for my ego, I just have to look at the three guys that I roomed with to see that $3.5 million of net worth would not be that impressive. I find it hard to believe that my one room happened to contain four guys that exceeded the net worth of 400-600 average ND students.

Maybe your group was special. But here is a question. Did all four attend on scholarship and graduate with no student debt? Did any of them start out with family wealth or later receive an inheritance? If so, it is impressive. Even if they had an inheritance of $500,000 or less it is still impressive.
Here is a study of Notre Dame grads. Tough to get to $3.5 million even though these numbers are substantially above those of graduates of other schools across the county.

Salaries by Major at University of Notre Dame​

How much money do University of Notre Dame graduates make and which majors earn the most upon graduating? Six years after enrolling, alumni who are working have average earnings of $63,100 per year. After ten years, graduates earn $89,800 on average.
In terms of specific areas of study, the following is a ranking of degree programs by the median first-year starting salaries for Notre Dame graduates.
The undergraduate degree which initially pays the highest is Computer and Information Sciences with a median starting salary of $80,000 followed by Finance and Financial Management Services paying $77,100 and Mathematics and Statistics, Other graduates who have a median starting income of $75,500 .
Looking at post-graduate and doctorate students, those completing the Business Administration, Management and Operations (First Professional Degree) program rank first with a median initial income of $120,500 followed by Management Sciences and Quantitative Methods (First Professional Degree) at $107,400 and Finance and Financial Management Services (First Professional Degree) who earn $92,900 .
Note about salary data: First year earnings data are aggregated by the US Department of Education and analyzes IRS reported income for University of Notre Dame graduates who received federal financial aid in the form of grants or loans. Not all graduates or fields of study are represented as data for some degree programs are omitted for privacy purposes.

Major	Earnings
Business Administration, Management and Operations (First Professional Degree)	$120,500
Management Sciences and Quantitative Methods (First Professional Degree)	$107,400
Finance and Financial Management Services (First Professional Degree)	$92,900
Computer and Information Sciences (Bachelor’s Degree)	$80,000
Finance and Financial Management Services (Bachelor’s Degree)	$77,100
Law (First Professional Degree)	$75,500
Mathematics and Statistics, Other (Bachelor’s Degree)	$75,500
Electrical, Electronics and Communications Engineering (Bachelor’s Degree)	$73,000
Chemical Engineering (Bachelor’s Degree)	$72,200
Mechanical Engineering (Bachelor’s Degree)	$71,000
Civil Engineering (Bachelor’s Degree)	$69,200
Management Information Systems and Services (Bachelor’s Degree)	$68,100
Engineering Science (Master's Degree)	$67,100
Economics (Bachelor’s Degree)	$64,300
Accounting and Related Services (Bachelor’s Degree)	$64,300
Accounting and Related Services (First Professional Degree)	$61,800
Business/Commerce (First Professional Degree)	$55,700
Architecture (Bachelor’s Degree)	$55,200
Business/Commerce (Bachelor’s Degree)	$55,200
Marketing (Bachelor’s Degree)	$52,400
Romance Languages, Literatures, and Linguistics (Bachelor’s Degree)	$50,100
Political Science and Government (Bachelor’s Degree)	$47,000
Teacher Education and Professional Development, Specific Levels and Methods (First Professional Degree)	$43,200
History (Bachelor’s Degree)	$39,000
English Language and Literature (Bachelor’s Degree)	$38,200
Theological and Ministerial Studies (Bachelor’s Degree)	$38,200
Theological and Ministerial Studies (Master's Degree)	$36,600
Sociology (Bachelor’s Degree)	$36,500
Psychology (Bachelor’s Degree)	$35,100
Liberal Arts and Sciences Studies and Humanities (Bachelor’s Degree)	$33,200
Drama/Theatre Arts and Stagecraft (Bachelor’s Degree)	$30,800
Biology (Bachelor’s Degree)	$30,000
Health/Medical Preparatory Programs (Bachelor’s Degree)	$27,900
Anthropology (Bachelor’s Degree)	$21,800

 

[Irish7478]

Maybe your group was special. But here is a question. Did all four attend on scholarship and graduate with no student debt? Did any of them start out with family wealth or later receive an inheritance? If so, it is impressive. Even if they had an inheritance of $500,000 or less it is still impressive.
Here is a study of Notre Dame grads. Tough to get to $3.5 million even though these numbers are substantially above those of graduates of other schools across the county.

Salaries by Major at University of Notre Dame​

How much money do University of Notre Dame graduates make and which majors earn the most upon graduating? Six years after enrolling, alumni who are working have average earnings of $63,100 per year. After ten years, graduates earn $89,800 on average.
In terms of specific areas of study, the following is a ranking of degree programs by the median first-year starting salaries for Notre Dame graduates.
The undergraduate degree which initially pays the highest is Computer and Information Sciences with a median starting salary of $80,000 followed by Finance and Financial Management Services paying $77,100 and Mathematics and Statistics, Other graduates who have a median starting income of $75,500 .
Looking at post-graduate and doctorate students, those completing the Business Administration, Management and Operations (First Professional Degree) program rank first with a median initial income of $120,500 followed by Management Sciences and Quantitative Methods (First Professional Degree) at $107,400 and Finance and Financial Management Services (First Professional Degree) who earn $92,900 .
Note about salary data: First year earnings data are aggregated by the US Department of Education and analyzes IRS reported income for University of Notre Dame graduates who received federal financial aid in the form of grants or loans. Not all graduates or fields of study are represented as data for some degree programs are omitted for privacy purposes.

Major	Earnings
Business Administration, Management and Operations (First Professional Degree)	$120,500
Management Sciences and Quantitative Methods (First Professional Degree)	$107,400
Finance and Financial Management Services (First Professional Degree)	$92,900
Computer and Information Sciences (Bachelor’s Degree)	$80,000
Finance and Financial Management Services (Bachelor’s Degree)	$77,100
Law (First Professional Degree)	$75,500
Mathematics and Statistics, Other (Bachelor’s Degree)	$75,500
Electrical, Electronics and Communications Engineering (Bachelor’s Degree)	$73,000
Chemical Engineering (Bachelor’s Degree)	$72,200
Mechanical Engineering (Bachelor’s Degree)	$71,000
Civil Engineering (Bachelor’s Degree)	$69,200
Management Information Systems and Services (Bachelor’s Degree)	$68,100
Engineering Science (Master's Degree)	$67,100
Economics (Bachelor’s Degree)	$64,300
Accounting and Related Services (Bachelor’s Degree)	$64,300
Accounting and Related Services (First Professional Degree)	$61,800
Business/Commerce (First Professional Degree)	$55,700
Architecture (Bachelor’s Degree)	$55,200
Business/Commerce (Bachelor’s Degree)	$55,200
Marketing (Bachelor’s Degree)	$52,400
Romance Languages, Literatures, and Linguistics (Bachelor’s Degree)	$50,100
Political Science and Government (Bachelor’s Degree)	$47,000
Teacher Education and Professional Development, Specific Levels and Methods (First Professional Degree)	$43,200
History (Bachelor’s Degree)	$39,000
English Language and Literature (Bachelor’s Degree)	$38,200
Theological and Ministerial Studies (Bachelor’s Degree)	$38,200
Theological and Ministerial Studies (Master's Degree)	$36,600
Sociology (Bachelor’s Degree)	$36,500
Psychology (Bachelor’s Degree)	$35,100
Liberal Arts and Sciences Studies and Humanities (Bachelor’s Degree)	$33,200
Drama/Theatre Arts and Stagecraft (Bachelor’s Degree)	$30,800
Biology (Bachelor’s Degree)	$30,000
Health/Medical Preparatory Programs (Bachelor’s Degree)	$27,900
Anthropology (Bachelor’s Degree)	$21,800

I have no doubt that my group was special. Evidently, so was my daughter. She is graduating from Mendoza and has an offer of $150k to start. ( not counting a $20K signing bonus). And trust me, she is not the only one with a solid offer in hand.

 

[WABLTY]

I saw an ND dude post and figured it was about the Quinn Carroll transfer instead of this weird dick measuring contest.

3.5 mil for someone approaching retirement and considering that implies he had significant funds invested for Mr. Toad's Wild Ride over the last 13 years is nice. It ain't RICH. Dude will get to travel and have nice things and never really worry about his country club dues. He can probably buy a pretty cool boat to putter his grandkids around. Idk what this is. Tell him nice job. It's not wildly abnormal for someone who presumably had a professional degree and 35-40 years of work behind him.

Ask dude to get you on the course next time you're heading his way.

 

[Irish7478]

I saw an ND dude post and figured it was about the Quinn Carroll transfer instead of this weird dick measuring contest.

3.5 mil for someone approaching retirement and considering that implies he had significant funds invested for Mr. Toad's Wild Ride over the last 13 years is nice. It ain't RICH. Dude will get to travel and have nice things and never really worry about his country club dues. He can probably buy a pretty cool boat to putter his grandkids around. Idk what this is. Tell him nice job. It's not wildly abnormal for someone who presumably had a professional degree and 35-40 years of work behind him.

Ask dude to get you on the course next time you're heading his way.

I agree with you 100% regarding the fact that $3.5 million isn’t much for a retirement, and this is what I was telling the guy. He estimated my net worth at $3.5 because of some Comments I made regarding the recent return on my IRA and 401k. The fact is that he underestimated my retirement accounts by a significant amount and never even seemed to consider that my net worth wasn’t simply tied to the value of my retirement accounts. In any event, I enjoyed reading his assertion that I was in the top 1-1.5% based solely on his estimation of my net worth.

 

[WABLTY]

I agree with you 100% regarding the fact that $3.5 million isn’t much for a retirement, and this is what I was telling the guy. He estimated my net worth at $3.5 because of some Comments I made regarding the recent return on my IRA and 401k. The fact is that he underestimated my retirement accounts by a significant amount and never even seemed to consider that my net worth wasn’t simply tied to the value of my retirement accounts. In any event, I enjoyed reading his assertion that I was in the top 1-1.5% based solely on his estimation of my net worth.

Percentage base of net worth is a dumb statistic anyways. Some places are just far more expensive to inhabit, have much higher pay rates and much higher real estate values. Conversely, someone out in country might make a substantially less amount but still have a fairly comparable if not higher standard of living. I'd expect smaller cities and more rural areas that would allow work-from-home with reasonable airport access will continue to become increasingly more attractive. I'm looking at moving up norf myself, but-

The whole argument is a waste of time. I've never met anyone with significant money that ever wanted to talk about their money on the internet, and if so at least it was done begrudgingly.

Also, a Notre Dame 2nd string OL just transferred back to MN, where if he gets healthy will likely help Fleck shore up his mostly new OL. Kinda what I figured this would have been about in the first place. But hey, Carroll's an Edina kid so maybe he can tell us all about money.

 

[Ron G]

I agree with you 100% regarding the fact that $3.5 million isn’t much for a retirement, and this is what I was telling the guy. He estimated my net worth at $3.5 because of some Comments I made regarding the recent return on my IRA and 401k. The fact is that he underestimated my retirement accounts by a significant amount and never even seemed to consider that my net worth wasn’t simply tied to the value of my retirement accounts. In any event, I enjoyed reading his assertion that I was in the top 1-1.5% based solely on his estimation of my net worth.

To clarify, I did not estimate your net wealth at 3.5 but rather your IRA and 401 K invested amount. I have no way of knowing your real estate and taxable wealth. The 3.5 was arrived at from your statement that they grew by $1,000,000 (28%) To achieve that return you would have needed to be fully invested along with some additional risk. The S& P grew by 29%, the Nasdaq by 22% and the Dow by 19%.

My guess is that you were heavy in some tech stocks (Tesla (tech maybe?) the FANGs and Microsoft. It probably proves the fact that money makes money because you have the ability to gamble on investments without changing lifestyle.

Apparently, you either don't believe that $3.5 million puts you into the top 1.5%, or you think that is where the average person is financially. To me, moderate would indicate average or at least the middle (median)
If you have$11 million you are in the top 1%. A little less than 2 million people have a worth between $3.5 and $11 million. The top 1%, course, is an open-ended number topped by Jeff Bazos $130 billion or whatever his current worth is.

I am not near your worth, but I am comfortable and in the top 4%. I consider it a success as when I came home from Vietnam, I had $2000 in the bank. I never inherited a dime, and before being drafted had worked my way through college.

 

[ralphiewvu]

while this thread has been very good for my ego, I just have to look at the three guys that I roomed with to see that $3.5 million of net worth would not be that impressive. I find it hard to believe that my one room happened to contain four guys that exceeded the net worth of 400-600 average ND students.

Not everyone has the money needed to make a million dollars in investments a year. You need a certain amount to make that. You can’t just put $50 in and a year later you’re a millionaire. It’s funny yet sad watching people who have it (or pretend to) think its nothing special to be in the top 2 percent as if everyone does it.

 

[Irish7478]

Not everyone has the money needed to make a million dollars in investments a year. You need a certain amount to make that. You can’t just put $50 in and a year later you’re a millionaire. It’s funny yet sad watching people who have it (or pretend to) think its nothing special to be in the top 2 percent as if everyone does it.

The top 2% in the US consists of more than 6,000,000 people. Not exactly an exclusive club. Trust me, when you hit retirement age you will probably be surprised at how much you have accumulated.

 

[Ron G]

The top 2% in the US consists of more than 6,000,000 people. Not exactly an exclusive club. Trust me, when you hit retirement age you will probably be surprised at how much you have accumulated.

The top 2% of anything is exclusive. Sports record, college ratings, grades in school, professions. If only the top two percent of MLB players were selected to the All-Star Game, only 15 players would be eligible. Close to two percent of NFL players make 1st team All Pro.
Scoring in the top two percent of an IQ test will gain entry into Mensa.
Just because the numbers are huge does not mean the group is not exclusive. You just seem to be unwilling to accept that concept.

 

[Irish7478]

The top 2% of anything is exclusive. Sports record, college ratings, grades in school, professions. If only the top two percent of MLB players were selected to the All-Star Game, only 15 players would be eligible. Close to two percent of NFL players make 1st team All Pro.
Scoring in the top two percent of an IQ test will gain entry into Mensa.
Just because the numbers are huge does not mean the group is not exclusive. You just seem to be unwilling to accept that concept.

I’d love to think I’m as exclusive as you seem to think I am. I keep telling my wife that we are exclusive. She tells me to shut up and clean the bathroom.

 

[Ron G]

I’d love to think I’m as exclusive as you seem to think I am. I keep telling my wife that we are exclusive. She tells me to shut up and clean the bathroom.

Maybe in your circle of friends and your neighborhood you are not exclusive. All that means is that you live in an exclusive neighborhood.

 

[Irish7478]

Maybe in your circle of friends and your neighborhood you are not exclusive. All that means is that you live in an exclusive neighborhood.

I’d certainly like to think so.

 

[ralphiewvu]

The top 2% in the US consists of more than 6,000,000 people. Not exactly an exclusive club. Trust me, when you hit retirement age you will probably be surprised at how much you have accumulated.

There’s over 300 million people in the US. Calling less then 2% of that not exclusive shows how out of touch with reality factor you are, and what doesn’t convince me you aren’t lying.

 

[Irish7478]

There’s over 300 million people in the US. Calling less then 2% of that not exclusive shows how out of touch with reality factor you are, and what doesn’t convince me you aren’t lying.

lying about what?

 

[fredsdeadfriend]

Never change

Why would I?

 

[ralphiewvu]

Why would I?

hahahahaha

 

[fredsdeadfriend]

Never change

I enjoy being on the right side of everything. Just wish more people recognized this, because then the world wouldn't be so fucked up.

 

[ralphiewvu]

I enjoy being on the right side of everything. Just wish more people recognized this, because then the world wouldn't be so fucked up.

I love you and your ridiculous ability to be an absolute imbecile.