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Most people choose to wildly overconsume, and as a result don't have any savings. This is a choice. It's also a choice to enter into highly leveraged options p
by yummyfajitas 11y ago
Most people choose to wildly overconsume, and as a result don't have any savings. This is a choice.
It's also a choice to enter into highly leveraged options purchases on illiquid assets which require major lifestyle changes to walk away from (mortgage). Complaining that the mortgage inhibits lifestyle changes is no different than complaining "I dropped $800k short selling AMZN, now I need to make margin call".
- onion2k 11y agoMost people choose to wildly overconsume, and as a result don't have any savings. This is a choice. To follow a remark like that with one about people regretting losing $800k makes me wonder how many low paid people you know. There are a lot of people who can't afford to save, and it's not because they're overconsuming. Although, admittedly, I doubt many of them are Amazon employees.
- chefkoch 11y agoI guess most people at amazon work at their warehouses?
- yummyfajitas 11y agoI was referring to the software developers working at Amazon (much like the article). I was comparing making mortgage payments on an $800k house to making margin calls on an $800k short sale. To be fair, most of the low paid people I know could also save. This is pretty obvious to me by comparing the lifestyle of my Indian friends and my American friends. Somehow the Indians earn far less but manage to save massively (hint: they consume less). The main exception might be Americans in the $0-20k/year of consumption category, since big chunks of their "income" are non-market income. But that kind of makes the question of whether to quit moot...