Society & Culture Things in life you just don't understand - Part 3

SHAKESPEARE

Brownlow Medallist
Jun 21, 2009
25,853
31,514
AFL Club
Hawthorn
I'm not really into extravagance but I dunno how I'd have gone coming into a lot of money at a young age. If I won $1m tomorrow I wouldn't go out and buy a Rolls Royce Phantom but if I won one of those Lotto mega jackpots of $70m or something then spending $1m on a car wouldn't seem unreasonable.
I would have had the money sitting in a few interest earning accounts.

I did it with inheritance
 

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Scotland

Hall of Famer
May 5, 2006
49,645
51,322
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West Coast
Savings interest rates are approaching 0. ING will give you 1.75% on anything over $150k so you had $1m you'd get a whole $17.5k p.a.
 

Off The Couch

Hall of Famer
Oct 4, 2007
39,299
40,936
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Hawthorn
Savings interest rates are approaching 0. ING will give you 1.75% on anything over $150k so you had $1m you'd get a whole $17.5k p.a.
ING pay 1.85 on their standard savings account as long as you deposit a certain amount each month, so they aren’t as bad as others but I get what you are saying

I do remember the good old days of high interest savings accounts - at one point they were around 10%

The government is being quite fraudulent with the whole deeming rate for the oldies on pensions
 

Cruyff14

TheBrownDog
Aug 16, 2011
52,798
34,652
Melbourne
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Hawthorn
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ING pay 1.85 on their standard savings account as long as you deposit a certain amount each month, so they aren’t as bad as others but I get what you are saying

I do remember the good old days of high interest savings accounts - at one point they were around 10%

The government is being quite fraudulent with the whole deeming rate for the oldies on pensions
It was 2.85%, then they dropped it to 2.55% a few weeks back and I got another email this week saying it's now down to 2.30%
 

revo333

Club Legend
Jan 7, 2018
1,381
1,250
AFL Club
Western Bulldogs
ING pay 1.85 on their standard savings account as long as you deposit a certain amount each month, so they aren’t as bad as others but I get what you are saying

I do remember the good old days of high interest savings accounts - at one point they were around 10%

The government is being quite fraudulent with the whole deeming rate for the oldies on pensions

Their standard rate with no deposits is now 0.50%

I've started looking around for someone new.

Some are giving a standard rate of 2.50% for the first 3 or 4 months you join without any need to deposit a certain amount a month.
 

revo333

Club Legend
Jan 7, 2018
1,381
1,250
AFL Club
Western Bulldogs
I'm not really into extravagance but I dunno how I'd have gone coming into a lot of money at a young age. If I won $1m tomorrow I wouldn't go out and buy a Rolls Royce Phantom but if I won one of those Lotto mega jackpots of $70m or something then spending $1m on a car wouldn't seem unreasonable.

I remember there was some news article about Brendan Whitecross having his car stolen and everyone was amused by the fact he had a Porsche but he played 100+ games and was on an AFL list for a decade so probably made $2-3m in that time as a semi regular player. Any regular Joe earning that sort of coin you'd be surprised to see getting around in a 2004 Corolla hatch.
I would assume footballers (smart ones anyway) would have other streams of income to go with what the earn playing for their club.
 

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FRUMPY

Norm Smith Medallist
Aug 18, 2006
9,434
8,715
Melbourne
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Carlton
Also some people just don't 'get' money. Whether you earn $100 a week or $10,000, there are people in the same boat who spend more or less than you do. If you can live off a modest wage and then progressively earn more, you should be OK. If you are always behind earning $50k a year then there's a good chance you are going to be behind earning $100k a year.
Yeah agree. Some people just see money as something to get rid of as quick as they can. Wouldn't matter if they earned $50k, $100k or $200k, they will spend it.

Im a saver personality, not a tight ass, but try and save something each month. It doesn't have to be $1000 a month, but each pay period, I try to have more money in my savings account by the time the next pay period comes around, even if its $50, it all adds up (I try and save $1k a month if possible but often it may only be $200-$300). Still allows us to live a good life, eat out every now and then, go to the movies, holidays etc and still save.

My missus is the opposite, she will spend it all. She got a new job recently and by the end of each week all her money is gone or basically gone. I don't mind as ill save and she'll spend it on the kids or kmart gets a good work out haha.
 

FRUMPY

Norm Smith Medallist
Aug 18, 2006
9,434
8,715
Melbourne
AFL Club
Carlton
If you have a decent amount of money to invest I thought banks would give you a better deal the normal rates. Shop around and enquire and I reckon youd get a better deal.
 

Gough

Moderator
Sep 29, 2006
41,949
68,631
AFL Club
Hawthorn
If you have a decent amount of money to invest I thought banks would give you a better deal the normal rates. Shop around and enquire and I reckon youd get a better deal.
If you have a decent amount of money to invest my business partner Mr Odumba has some very good, low risk, high yield opportunities that you may be interested in.
 

edgie

Hall of Famer
Apr 27, 2008
39,181
42,042
The 'Yabba
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Port Adelaide
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Chael Sonnen: Moral Champion
Somewhat related, but people that are ALWAYS away.

My partner had a friend from work that was away no less than every third weekend. I guess it wasn't unusual as she was a part time worker, but it was strange that she always went with her full time partner and could afford to be in a different corner of the country every month. One of those people that bombard social media with stories of them going to visit super distant relatives and 'family is everything', who make it sound like a personal achievement when other people have babies, status's like 'OMG GUESS WHO IS BECOMING AN AUNTY/COUSIN AGAIN!'.

Anyway, this person eventually moved in to a full time job in retail management, and continued to go away to every s**tty birthday, anniversary, or country music festival that existed. I know that this wouldn't have been feasible as the job was previously held by one of my uncles and he had almost no time off in his time doing it. I am a bad person, so I felt good and vindicated when I found out she got sacked. I guess there's only so long you can make every weekend a long weekend.
 
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