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Right Decision?

konceptjones said:
Y'all ain't taking into account for his circumstances. He just came home and he's still on papers. Finding employment is going to be tough and in a lot of areas finding an apartment or house to rent will be just as hard 'cause they ain't taking people with felonies.

$1.3M, after federal taxes leaves you with $831K. He's from California so the taxes on that further deducts another $178K from that money, leaving him with $653K.

Even where he's from (Sacramento), that's enough to cop a decent 4 bedroom crib, a couple of decent cars, and stick some money into some sort of investment device to stretch the money out. After that, all he would need is a job at Home Depot or another spot that hires felons and he's straight.
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Bruh just got outa prison tho. Why/how would he know any of this or how to make it last? He took the lump sum and it backfired.
 
shutupGabi said:
Bruh just got outa prison tho. Why/how would he know any of this or how to make it last? He took the lump sum and it backfired.
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Because he just came home. That definitely wasn't his first trip around the block, so he knows the limitations of being a felon. The smart thing to do when you can't just rent anywhere is to buy a crib outright if you have the money. Can't be denied if you own it.

When you're on papers you typically are required to hold a job. He actually bought three businesses (chicken and waffles spot, a titty bar, and a bailbonds spot) so he did that part right.

The problem? He didn't stop. He kept spending and spending like it wouldn't run out.
 
konceptjones said:
Y'all ain't taking into account for his circumstances. He just came home and he's still on papers. Finding employment is going to be tough and in a lot of areas finding an apartment or house to rent will be just as hard 'cause they ain't taking people with felonies.

$1.3M, after federal taxes leaves you with $831K. He's from California so the taxes on that further deducts another $178K from that money, leaving him with $653K.

Even where he's from (Sacramento), that's enough to cop a decent 4 bedroom crib, a couple of decent cars, and stick some money into some sort of investment device to stretch the money out. After that, all he would need is a job at Home Depot or another spot that hires felons and he's straight.
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Naw bruh...

Maintenance costs just as much as acquisition


You gotta be able to maintain....

That 1300 a week is great to gradually ease yourself into a new financial mindset
 
If it's longer than 25 years... Then you ultimately get more....

Inflation ain't gonna jump that much in 25 years...

25 years ago was just 1994.....
 
Duwop said:
If it's longer than 25 years... Then you ultimately get more....

Inflation ain't gonna jump that much in 25 years...

25 years ago was just 1994.....
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According to the BLS, $1 in 1994 had the same buying power as $1.75 today.

Gas was .99 a gallon. A 20oz bottle of Coke was 75 cents. A Big Mac combo in 1994 was $3; today it's $6+. I rented a 1200sq/ft apartment for $450 a month in 1994. Today that exact apartment runs $850/month.

a lot changes in 25 years.
 
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