That's so incredibly untrue that I guess you're just trolling at this point.

But let's assume this post might be useful to someone reading and call you on this.

In Australia, CPI (inflation) averages 3% and the stock market returns 8% or more. So over 30 years, at 5% therefore in real terms, $20,000 becomes $86,438. I know you didn't finish your degree in mathematics, but hopefully your skills are sufficient to understand that $86K > $20K.

I just thought it was a bit weird when you said to be grateful that your life is different from everyone else. Why should we be grateful for that?

It's called being content with our circumstances and then building from that towards whatever goal you have and being content along the way.

Well thats assuming you understand to invest in indexes (or know what they are) instead of being a fish and picking random individual stocks based on speculation. Thats a bad analogy because most people lose money in real terms in the stock market. Investing is basically nationalized gambling

He finds a way to turn everything into a freeroll.

The entertainment variance in this thread is very swingy.

The writers are running out of ideas.

This thread right now

Exactly! I don't care if I'm a fish for saying this, only run it multiple times against nits and good players. Take your equity against bad players, because if you don't get their chips first, the good players or nits might get their chips, then you have less chance to win that money from the good players. Basically it's a race to see who wins the bad players' chips first.

Except that if you refuse to run it more than once a bad player can choose to change tables and lose the rest of their chips to someone else.

So it's much better that we get in, chop and then bad player loses to someone else than we take a good spot, lose, and he has the opportunity to run away? I find this to not be logical but no biggie, just different philosophies.

Running it multiple times doesn't mean you chop it. Regardless, all I've seen on the app are bad players so I think it's a moot point anyways.

Obviously haven't played with 6b then! I thank my lucky stars every single day that I don't play NL so I don't have to tangle with him.

Then you pay tax on your investment profits and you're back to even.

This is why I'm of the belief that we should only tax real profit, not profit before inflation. Because if your money rises by 300% but inflation also rises by 300%, you've effectively gained nothing, so why should you have to pay tax?

Exactly this. I ran it 3 times with 88 vs AK on the ten high board and managed to scoop the whole thing.

Is it really that hard to realize that I meant when you chop the pot. Again, logic...

Are you sure you don't want to go back to University and learn a thing or two?

Welcome to real life... sometimes, exciting things happen, and sometimes, they don't.

Grocery shopping

So anyway, after the win came in, I went out with my wife and did a lot of grocery shopping. We wanted to help out my mum and brother by doing it all for them and making their lives easier. I literally spent almost $500 in 3 days. And this doesn't even include the $100 bottle of whiskey I bought either.

Everything is so expensive...
1 can of crab meat = $95
Other seafood = $135
Other supermarket groceries (like meat, fruit, snacks, etc.) = $250

I haven't even got around to buying the actual expensive things yet like a new phone... it just shocks me how I could've ordered UberEats for an entire week instead and it would've cost less than this.

But oh well. The pantry, fridge and freezer are all stocked up now, and I've proven to my mum that I have a willingness to help her out, whenever I can afford to do so. So it was worth it. I'm glad I did it.

The can of crab meat:

$20,000 in year 1 that is invested in something that appreciates 8% every year will be $201,253 in year 31. This is a gain of $181,253. If the investment is then sold in year 31 and a 20% capital gain tax is paid (I don't know if Australia has a capital gain tax or what the tax rates are), then $145,002.50 is left.

At inflation of 3% every year $20,000 in year 1 is equal to $48,545 in year 31.

145,002.50 - $48,545 = $96,457.50

So, after taxes, this theoretical investment in this theoretical scenario beat inflation by $96,457.50.


This is of course a very simple example in many respects.

Nice purchase OP. I can only assume that crab meat is twice as good as the 18oz Rib Eye, and large sides of Mac & Cheese and Garlic Mashed Potatoes that I purchased from a local steakhouse last night.

Yeah, but how much would that $96,457.50 be worth today?

Depends on what interest rate you use. Assuming a 3% interest rate, $96,457.50 in year 31 would be worth $39,739 in year 1. So, for example, if in year 1 you wanted to buy someone out of a right to receive $96,457.50 in year 31, you might pay them $39,739 in year 1.

Good job op! I'm sure she appreciates it, sometimes it's more about the effort as well than the actual cost.

Calling it now busto by Xmas this year...I hope you prove me wrong though.