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elpajaroquemamais t1_j8w3dua wrote

Reply to comment by No_Choice_Is_Choice in Tyler Perry to donate $2.5M to help older Atlanta homeowners by AmethystOrator

Have you given .025 percent of your net worth away today?

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Kuli24 t1_j8wjtdh wrote

0.25 percent. If you're worth $250,000, you would give... $625??? That sure doesn't seem like a lot.

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elpajaroquemamais t1_j8wnvnh wrote

Keep in mind net worth isn’t cash in the bank. For someone who owns a home that’s worth $400000 and only owes $150000 on it but other wise isn’t rich, yeah, $625 is a lot of money.

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Kuli24 t1_j8wopbz wrote

I know that. And no, in that situation, $625 isn't a lot of money. It's like buying a ps5 console with no games, or a used graphics card.

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elpajaroquemamais t1_j8wpz6m wrote

Just because it isn’t a lot to you doesn’t mean it isn’t a lot.

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Kuli24 t1_j8wqupl wrote

I mean that's pretty much my situation, which is what I was going off of. How did the $250k get paid off if there isn't enough to cover a simple $625 cost? That's a set of tires. That's a car repair bill. We probably just define "a lot" differently, which is alright.

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elpajaroquemamais t1_j8wztyx wrote

You are describing exactly why you need to save that money instead of spending it on a PS5 or charity. Thanks for proving my point.

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Kuli24 t1_j8x0n6p wrote

I'm saying that $625 is a typical expense we are already used to paying. What's one more of them? I'm saying if you have $250k of the house paid off, chances are you can drop $625 without it affecting you. And no, we shouldn't save all of our money. Buy a PS5 and enjoy if it doesn't hurt you financially.

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elpajaroquemamais t1_j8xmldz wrote

The house may have been worth $200000 when you bought it. But when it becomes more valuable it increases your net worth. That’s my point. It’s not cash in hand.

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Kuli24 t1_j8xr7rg wrote

Ohhh that's what you meant. I thought you meant a $400k mortgage with 150k remaining.

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sPlendipherous t1_j8wms5o wrote

The commenter probably needs his money. This billionaire does not need more than a billion dollars. Spit on the homeless for not donating the shirt on their backs. For the billionaire this just means buying one fewer private jets, less than a dozen, maybe only eight jets, for his private runway.

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elpajaroquemamais t1_j8wniso wrote

Look, I’m not saying he doesn’t need it more, I’m just saying that’s easy to say. Just because he’s worth a billion doesn’t mean he has a billion in the bank. People conflate net worth with cash. It’s not.

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sPlendipherous t1_j8y6o2a wrote

It's not easy to buy one or two fewer private jets for your private runway? Get real.

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elpajaroquemamais t1_j8y9zsd wrote

Bro, again, a percentage of net worth is a useless statistic. Most of his net worth is tied up in the valuation of his businesses. He doesn’t have a pile of a billion dollar bills laying around.

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sPlendipherous t1_j8ybdxz wrote

Obviously. His net worth is what he can sell it for. Hence, he could donate... maybe 500 million? Hell, he could donate 950 million without any change to his lifestyle at all. He would still have 50 million (50 000 000 usd worth) and can still own his dozen private jets on his private runway, maybe even buy one or one hundred new private runways for his buddies.

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elpajaroquemamais t1_j8yfefs wrote

Of course. He could give up his businesses and give up all his possessions.

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sPlendipherous t1_j8yhrhq wrote

Except for 50 million worth? As I said, it would make no difference to his actual possessions.

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