How the hell are we supposed to retire?

rick81721 said:
Speaking of which, what do all the people whining about income inequality think about the ridiculous salaries pro athletes get for playing kids games?
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Considering they provide the entertainment and the value to the fans, they should get more. They're the talent.

The owners should get less than them, full stop.

Inb4 Rick blathers about "Risk" of owning a sports franchise in a monopolistic league.
 
Patrick said:
As opposed to the owners making all the money?

Consumers willingness to pay is why there is such a big pool of $$$. They get their cut,
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You fail to take into account all the other employees of a professional sports team. There are many more than just the athletes, key coaches and owner(s). Do the rest get their "fair share"?
 
rick81721 said:
You fail to take into account all the other employees of a professional sports team. There are many more than just the athletes, key coaches and owner(s). Do the rest get their "fair share"?
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i did not. i answered your question. every dollar not spent ends up with the owner.
they also have the competitive balance thing so the yankees (and now the dodgers) can't just outspend the competition.
A little outside the convo, but a couple things with the dynamic. winning makes more money.
I think there is a minimum spend too. Gate revenue sharing is cool. they changed the rules awhile back. they used to split attendance,
they now split sales.

check the player bonus thing - what they can write into a contract that can be manipulated by the team (ie plate appearances, innings pitched, etc)

speaking of which, the collective bargaining contract is coming up for renewal.

guess i'll start watching Futbol.
 
Patrick said:
i did not. i answered your question. every dollar not spent ends up with the owner.
they also have the competitive balance thing so the yankees (and now the dodgers) can't just outspend the competition.
A little outside the convo, but a couple things with the dynamic. winning makes more money.
I think there is a minimum spend too. Gate revenue sharing is cool. they changed the rules awhile back. they used to split attendance,
they now split sales.

check the player bonus thing - what they can write into a contract that can be manipulated by the team (ie plate appearances, innings pitched, etc)

speaking of which, the collective bargaining contract is coming up for renewal.

guess i'll start watching Futbol.
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But relevant to the "fair share" discussion, and especially the corporate CEO vs average worker ratio. Highest paid athletes get close to 1000X that of a team's average worker. Outrageous!
 
rick81721 said:
But relevant to the "fair share" discussion, and especially the corporate CEO vs average worker ratio. Highest paid athletes get close to 1000X that of a team's average worker. Outrageous!
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want to talk outrageous?

high end models, and overpaid actresses and actors.

and for the same reason the athletes are overpaid. it is the money they can produce for the brand.
 
JimN said:
So if you're really good at something that can make someone a shit ton of money, you can get paid a lot and then retire?
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If you negotiate properly, because you can be real good at something that makes someone else a shit ton of money, and not make that much for yourself.
 
JimN said:
So if you're really good at something that can make someone a shit ton of money, you can get paid a lot and then retire?
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Yup. My college housemate was a portfolio manager for one really rich guy. My friend decided that once he hit $250 million in his own account he'd retire and divorce his wife. Figured he could live comfortably off the remaining $125 million. He's played lots of golf for the past 5 years.
 
Not Rick said:
False business is about making money.
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What else would be business be about?

Not Rick said:
Anyway the system is broken when child labor is looked at as a solution.
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child labor in other countries? I am not trying to be a dick, I really want to know what this means.
Not Rick said:
If employees want the most money they would organize but money is spent from the beginning to influence people to think otherwise. They have made it taboo to discuss salaries and other dumb shit that only benefits business.
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probable true, but they could always start their own thing or go somewhere else
Not Rick said:
A business's goal is to make as much as it can our goal should be to work the least amount possible.
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I would disagree, I think your goal should be to make as much money as possible, no? I remember when I waited tables 30 years ago, I never understood the mindset of some of the waiters that would turn down tables. I was always thinking, well I'm here, let me get as many tables as possible and I'll make the most money.
Not Rick said:
My next job is going to be my first step in staging 3 full time remote jobs. If I can set expectations and behaviors off the bat I am sure I can succeed and retire very quickly.
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If you can do this, why not get 10 full time remote jobs?
 
roc said:
What else would be business be about?
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Rick said making the best product possible, I have yet to have the best burger of my life from BurgerKing and thats supposed to be the king what a joke.

roc said:
child labor in other countries? I am not trying to be a dick, I really want to know what this means.
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Wisconsin's senate recent move to let 14-year-olds work till 11 pm is my reference. We also have an issue with child labor in company's current production lines, I won't go into that.

roc said:
probable true, but they could always start their own thing or go somewhere else
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There are tons of barriers to starting new things why not take advantage of what you already helped build. If staring a new thing was the best path to success you wouldn't see corporate take overs. I've gone through 3 attempts in the last 10 years of working, if billionaires are doing it from the outside why not try from the inside.

roc said:
I would disagree, I think your goal should be to make as much money as possible, no? I remember when I waited tables 30 years ago, I never understood the mindset of some of the waiters that would turn down tables. I was always thinking, well I'm here, let me get as many tables as possible and I'll make the most money.
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You could make all the money, I don't love money or working. I love other things and making the most money possible is no ones goal if it was @rick81721 would still be working for big toothpaste .

roc said:
If you can do this, why not get 10 full time remote jobs?
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If I could pull it off I would why not
 
Not Rick said:
Wisconsin's senate recent move to let 14-year-olds work till 11 pm is my reference. We also have an issue with child labor in company's current production lines, I won't go into that.
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Just want to add on to this and the point you're replying to. Even if we totally eliminate child labor in the states, we are absolutely outsourcing it to other places in the world. Be it at the factory in *insert country that our goods come from*, or the even poorer country that *insert country where previous country gets its raw materials*. AKA, the "no ethical consumption under capitalism" argument.

Yes, and before I get shit for it there are no better systems. I think acting like it doesn't happen for the sake of "the economy" is silly though.
 
Not Rick said:
An have to hold a shit ton of coverage nope lol.
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?

E&O insurance?
CGL is cheap, WC is cheap for professional workers, and variable with payroll.

i had to get loyd's of london involved when I had a system admin person working for me in 1999-2000.
 
Patrick said:
you said it wasn't fair.

it is perfectly fair - nobody is paying them that much with the intent of losing money.
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I was joking, obviously. So then you agree that CEO salaries, and 401K matching policies (which is how this tangent started) are also fair? See that was easy! 😀
 
rick81721 said:
I was joking, obviously. So then you agree that CEO salaries, and 401K matching policies (which is how this tangent started) are also fair? See that was easy! 😀
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You used the word fair. I said they are stacked to benefit the high earners.

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Yes the business of business is to "make money" or "maximize shareholder value"
but is that quarter over quarter?
Or is it the NPV of future earnings?

This is where executives have to decide between making their max quarterly bonus,
and having a company around a couple years later after all the talent leaves for a better deal.
Back to my example of limiting raises or bonuses, and not being market competitive. ISOs are interesting, in that everyone can
share in the longer term success - but not everyone can think that far out.

There is always the cycle of having one CEO squeeze all the money out, and get paid big,
then bring in another to save the company, and get paid big.
repeat.
 
Man, you guys really went off the rails on this.

All I wanted to say was the government pushes beneficial retirement funds benefiting people who work for full time for large companies as opposed to not... Not unlike our healthcare.

Don't we have a coronavirus thread for you guys to talk at each other instead of with each other?
 
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