Ufot [he/him]

What are ethical ways people could/should invest their money into instead?

I’m not going to ever be a landlord, but I want to retire at the point.

Maybe you can enlighten me on more ethical ways to invest my money because at this point I think not putting money into a 401k is a terrible financial decision.

Tax deferred compounding interest is too good of a deal for the average person to pass up. Over 30 years you’ll be looking at anywhere from 100-150% return on investment.

$50 a paycheck for 30 years with 5% avg return turns your $39k total contributions into $100k in retirement savings. $100 turns $78k in total contributions into $200k savings.

For many people who find saving difficult, me included, being able to set it and forget it, plus the understanding it needs to be for retirement to get the full return, has allowed me to save money I would have spent/wasted otherwise.

Due to the compounding factor, the sooner a person starts the better the return, so to discourage young people to not put money into a 401k is IMO actively harmful.

IMO It’s like telling someone they shouldn’t have health insurance. Yeah it’s bullshit that society forces us to participate in a fucked up system but not having it puts future you at a terrible risk.

What the hell are you even talking about? What are the bands that you like that used to tour and only play festivals now?

Covid fucked everything up.

They might know some other younger people who they can connect you with. Maybe not though.

It’s cause they like free loans sucker.

Loans are given out for 1 reason, to receive interest payments.

If he’s making the interest payments, then they’re going to keep loaning him money.

Lenders often make stupid decisions and risky loans but at its core, a loan is determined by two(three) things.

1. Does the lender believe the borrower has enough income to pay the minimum monthly payments?

2. Does the lender believe the borrower has enough assets, which if liquidated could pay off the remaining debt?

3. Is it worth the risk?

I’m no finance expert and there’s a lot of specifics between different types of loans that have different reasons. Like a personal loan, mortgage, car loan, business loan. Way more than that idk.

There’s also reasons banks will or will not loan money that are a little more vibe based, ie racism, classism.

But the lenders, either correctly or incorrectly, have determined he has the income streams and the assets(sounds like he owns lots of property), that risking 1.2 bil made financial sense. A lot of thst probably is tied to real estate.

Having said all that holy shit that’s a lot of money. Assuming he’s paying only the interest at 3% apr that’s $36,000,000 a year. Fuck.

I have some examples below but my advice comes from a more generalized approach on habits/decision making. What’s the point of doing a 30 day super diet if you’re miserable the whole time and afterwards you either quickly/gradually fall back into the actions that got you there in the first place.

Make choices and plans when you feel strong/motivated, then set yourself up as best as possible to limit your power/desires to make good decisions when you’re less strong/motivated.

Recognize your habits and how you might have “failed” in previous attempts.

Dont buy foods you know youll overeat. Try to only grocery shop when you feel strong/empowered/full.

Try to plan your meal choices ahead of time, and have a backup plan or 2 that might be worse than plan A but better than winging it. Ex: you have to go to work, and there’s a fast food spot near that you eat at way too much.

Plan A: bring lunch daily Plan B: have some frozen stuff you can microwave if you forget/don’t prepare a lunch Plan C: have a protein bar or some highcalorie snack that’ll hold you over Plan D: know of a couple healthier options for takeout, and commit to them before you get hungry.

If you keep failing a plan A, figure out why. You keep running out of time in the morning? Meal prep. You hate the lunch you bring to work? Make something else that might not be as healthy, but it’s better still than plans B-D.

It’s ok if you mess up. It’s okay if you make compromises, but try to make the compromises when you feel strong not in the moment.

You don’t need to be perfect to lose weight, you just need to consistently eat less/healthier over time.

Also unless its a nutritious shake/smoothie, dont drink calories. Lmao that’s a big one. For a lot of people just getting that number down is enough to make a significant different.

If you have any particularly bad/ingrained habits it’s okay to ween yourself off them. You don’t need to go from 10 cokes a day to zero, go to 5 first. Or instead of coke, maybe you can switch to coke zero for a month or two first, then switch to flavored water for a couple months then plainwater. Or whatever.

What kind of sales? There’s lots of unethical sales jobs, if you do those idk if youre a class traitor but kind of a shit head. Then there’s more neutral sales jobs, I think you’re morally okay to do those.

Below are some Qs on the job itself. You don’t have to answer me, but you should know the answer to these questions before you take a sales job.

Inside sales? Outside sales? Business to Business? DTC? Hourly? Salary? Comission? Is the base pay ass? Is commission fair?

Are people coming to you? Are you responsible for your own leads? Can you mentally justify the product/service you’re going to have to sell to yourself? To others? Is there already a market for it and you’re just selling a different version? What would you be selling, price? Service? Would it actually be a good idea for them to buy what you’re selling? If it’s not are you going to lie to them?

If your selling products are you selling capital products? Consumables? What’s the typical sales cycle? Do they need more every week, month, year, 3 years, more? Are you selling a lot of little things, or little/big things for a lot?

Are you selling a service? Is it a subscription? Per service? Same service they already use but different or a “new niche”

Is it churn and burn, get a sell at all costs and look for the next mark? Is it slowly build a relationship and wait for a chance? In between? If you do get a customer are they likely to repeat? Will you get credit for returning customers?

How competitive is the market? Is there already a big player(s) that most people use? Are you working for the big player? Does your company have a reputation? Does your competition? Is that something thst will work in your favor or something youll have to constantly work against?

Does the company churn and burn through sales people? Are there some that stay awhile? Whats the success rate look like? Are their quotas?

Sales sucks no matter what but there are perks and you can get paid. There are a lot of sales jobs that are not worth it from an ethical stance, you’re selling something people don’t need, you’re lieing to them, your selling an unethical product/service etc.

There’s a lot of sales jobs that aren’t worth it from a organizational standpoint. It’s hard as shit to get sales, your not compensated well for them, you get abuse from management/ops. The market is saturated, your pricing isn’t competitive, there’s better products/services out that already exist.

The company I work for does B2B sales. They’re absolutely not selling anything a company doesn’t need, just the fact we might be able to do the service better. It’s a mix of pricing, service and just overall relationship building. All of our long term customers trust, and like, their sales rep and the support staff as well. You’re generally responsible for your own leads, if your lucky a sales manager will give you some. It’s basically knocking on business doors and trying to talk to someone. They also go to events which is much nicer and more effective but they don’t happen all the time.

We don’t have name rep but we compete against some companies that have a intl rep. Sometimes that works in our favor when big hat company doesn’t care about best service, but often times big company does fine and has strong pricing. I say compete but it’d hardly competitive if the big companies ever wanted any of our business they could take it.

Sales take a long time to develop, sometimes months, sometimes even years. Sometimes you get lucky and slide in when a competitor has a disaster or a company suddenly explodes in growth and needs help but most people are relatively happy with the company their already using.

So not the ideal situation, but overall pretty good. I was able to convince myself to try sales a few years ago and not have any ethical quandries about it. And our sales people who do succeed can make a grip, it just takes awhile and is hard as shit.

I wanted to die it was terrible. There were a lot of perks, but you have to be on it pretty much every day and decide to stay on it throughout the day. You need to dress up, show up, follow up, check up consistently for weeks/months/years with often nothing to show for it. Constant rejection, constant ghosting, lieing, etc. from potential customers.

Its a struggle, I gave up after maybe 5-6 months. Luckily I was able to get a different position back in the office that I’m much better suited for. One with numbers where I can wfh most of the time and don’t talk to customers very much.

You ultimately have to be super money motivated and I was not. Or just really like it, but I think you can really like it unless you already really like money.

I’m happy to try and answer any questions you might have. Im not going to be able to tell you how be good at it but l have a decent amount of insight on overall process.

👍 thanks good to know