1. Attention: We have put together a thread with tips and a tutorial video to help with using the new software. Please take a moment to check out the thread here: Trapshooters.com Tutorial & Help Video.
    Dismiss Notice

O/T: Finances/Luxury

Discussion in 'Off Topic Threads' started by WoodsonEnt, Feb 2, 2013.

Thread Status:
Not open for further replies.
  1. WoodsonEnt

    WoodsonEnt Active Member

    Joined:
    May 20, 2008
    Messages:
    2,410
    I have a question, observation, or opinion and looking for what others can say.........

    I travel to many registered shoots in both sporting and trap. I see teenage shooters and younger shooting $10K shotguns, driving there $10K shooting buggy, and then see the parents......mid 40's driving an $50K SUV or 3/4 ton truck with equal value camper while wearing top line clothing and wearing a $8K watch. What I wonder is.....where does this money come from? Are they in debt up to their eyeballs or have they made it somehow? How does this work?
     
  2. cubancigar2000

    cubancigar2000 Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    10,521
    Location:
    Idaho
    Obviously there are many millionaires in the US. Actually a mill isn't much anymore. Hoever there are more people living on plastic than those that actually have it
     
  3. crusha

    crusha TS Member

    Joined:
    Jan 29, 1998
    Messages:
    5,762
    What would summer be without spoiled rich kids and $14,000 guns?
     
  4. Shooting Jack

    Shooting Jack Active Member

    Joined:
    Jul 29, 2006
    Messages:
    3,523
    Location:
    Blackshear, Georgia
    It's hard to figure really. An aunt and uncle passed away recently and had always been frugal. So far they've found around 40 thous cash in the house and close to 300 thou in the bank. Plus a little farm(90 acres) worth anoother 200 thou. Her daughter who was too good to talk to them got it all. Nobody knew they had the money. Several years ago a guy that worked for me and his father passed away and he went wild buying a yacht, Corvette and a house but had sense enough to stay in the Air Force. I have met quite a few over the years that got it the old fashioned way. They worked for it and are usually very nice folks. Jackie B.
     
  5. Gold Medal

    Gold Medal Member

    Joined:
    Jan 29, 1998
    Messages:
    342
    Woodson, this conspicuous consumption thing has been going on since I can remember.

    I worked in a bank for 29 years, and reviewed credit apps on some customers in debt up to their eye-balls.

    On the surface they appeared to have dollars galore. In fact, they had payment books galore. We found this out ex-post-facto when they threw in the towel and declared bankruptcy.

    One guy who we nicknamed "the locust" had been bankrupt every 7 years for the preceding 28. He had a system. Load up with credit, make minimal payments, juggle the financial balls until they all fell on him, then file bankruptcy.

    Wait a few months after the BK discharge, apply for a small credit card, normally get it as he was debt free. Start the borrowing cycle all over by paying monthly as agreed. Next apply for more credit, get it, and so on, until the bills hit the fan again.

    Lenders in the 80`s and 90`s had rather lenient underwriting practices that do not exist today. Attainment of credit was easier.

    However, to be fair, there are those that can afford a very good lifestyle and pay for it with their own money.
     
  6. DB Bill

    DB Bill Active Member

    Joined:
    Jan 29, 1998
    Messages:
    1,012
    The secrets - get a good education (or learn a trade) - don't get married to young + wait a bit to have children - invest wisely - and try not to have more than one expensive hobby & it will help if your children are smart enough to get scholarships.
     
  7. NMULTRARUNNER55

    NMULTRARUNNER55 Member

    Joined:
    Apr 10, 2011
    Messages:
    425
    When people die a lot of them leave everything to their kids anyway. Some just choose to let them have it early. It's better than paying estate taxes.

    Steve Nunley
    Albq., NM
     
  8. grntitan

    grntitan Well-Known Member

    Joined:
    Mar 25, 2009
    Messages:
    17,153
    Location:
    IL(The gun friendly Southern Part)
    There are definately a lot of $50,000-$100,000 per year millionaire families out there. What I mean is the folks living well in excess of their means. The old saying "keeping up with the Joneses" has been replaced with "trying to show up the Joneses".
     
  9. AveragEd

    AveragEd Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    5,474
    Location:
    Mechanicsburg, Pennsylvania
    Spending 38 years in automobile service management, many of them at a luxury car dealership, allowed me to become friendly with numerous legitimate millionaires. Some were quite nice - a well-known oral surgeon, the owner of five McDonald's and the CEO of a steel company come to mind. Let's just say that some others were not. A few of them bought their children nice guns and the kids respected not only the gun but the fact that their parents bought it for them. A couple went on to shoot well enough to earn sponsorships from firearms companies - either ammo or even a gun (this was back in the day when sponsorships were more common).

    However, one in particular stands out as a total jerk. I met him just recently at a local club where everybody was touting this kid as the best shooter to come along in forever. He was shooting a new Beretta 682 Gold E combo that was given to him by Beretta and he spoke of the gun and handled it with disrespect.

    He told us in a haughty manner that he still hadn't decided if he liked it or not as if, at his young age, he had shot enough different shotguns to know what works best for him. I watched him assemble it without any lubricant and snap the barrel upward to close the action. The father, who was not ignorant about guns, just sat there watching and saying nothing.

    In contrast, when our son was still in middle school, I bought him a custom-built but not top end 1911 pistol. Perhaps two months later, he lied to us about something. I took the gun back to the dealer who built it and asked him to sell it for me. The desired lesson was learned.

    But then, we didn't spare the rod if you get my drift. There were no time-outs in our house and today, our kids thank us for that.

    Ed
     
  10. WoodsonEnt

    WoodsonEnt Active Member

    Joined:
    May 20, 2008
    Messages:
    2,410
    grntitan -

    Yes, I agree with your thinking. I just don't see how a family with $100,000 income can keep up with the payments.
     
Thread Status:
Not open for further replies.