I paid low seven figures in taxes.
And, while I am a fan of Mecum, pretty much everything I buy will (if nothing else) ever be worth less than what I paid for it. When you buy a car at auction, it's almost never going to go down in collector value - unless you damage it or something.
Sometimes there are bubbles and I ignore those and try to avoid them. In those cases, the value will go down - but if you can wait it out the value will sooner or later get back. Like pickup trucks. Those were going for 70k and now they're back sub-30k. That was a bubble that I ignored.
But, pretty much everything I purchased is worth at least what I paid for it - usually a fair amount more, often quite a bit more.
For all my purchases, I'm actually pretty careful. I know the value of what I bid on, or can at least give an estimate of value. I then stick to a budget.
That's a hall of a lot in taxes.
I don't think everything I have earned in my life added together adds up to 7 figures. Unless you count after the decimal point!
There's a ski jumper from Japan who was like, "Yeah, no... Fuck it... I don't feel like doing the trial jumps."
He completely (in other words) skipped the practice and getting to know the jump. He's just like, "Nah, I'm good with that."
This is unheard of, of course. You want as many practice jumps as you can get.
He's in like 2nd place right now.
He doesn't need the practice, he just needs to see the others line
It used to be that the average person would earn a million dollars (total) from the ages of 18 to whatever year it was you were expected to retire back then. I want to say between 18 and 65,
That's what they told me when I was like 16.
Most of my taxes are 'capital gains' taxes. That's awesome,'cause being taxed as regular income is a whole lot more expensive.
Yeah, it's a marginal tax rate - but it gets to be like 37% (plus State). So, after the first 600k you're paying almost 40% of your additional earnings on taxes.
I don't think I am going to make it to a million. Though miracles do happen?
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