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Old 01-04-2021, 12:34 PM   #41
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Now I was feeling pretty wealthy until I found that gold troy ounces are about 10% heavier than avoirdupois ounces.
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Old 01-04-2021, 12:48 PM   #42
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Originally Posted by Sunset View Post
ha ha ha ... I had to look it up and calculate... I'm going to have to lose some weigh.
Hopefully you converted your weight from customary pounds to troy pounds otherwise you have even more weight to lose. Troy pound is about 82% of a customary pound.
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Old 01-04-2021, 01:13 PM   #43
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Hopefully you converted your weight from customary pounds to troy pounds otherwise you have even more weight to lose. Troy pound is about 82% of a customary pound.
Argghhhh. too many weight measures. Suspect the reason for not going metric everywhere is to continuously befuddle and irritate those not members of the trade or coven.
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Old 01-04-2021, 03:47 PM   #44
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Ohmigod! I remember that episode! Wasn't it painted black, until it (the gold) melted or something like that?

And, at a volume of only about 17.4 gallons, you wouldn't fill much of the pickup's bed.
It was a 2-tone red-over-burgundy. Here's a clip of it in action, from Youtube, in all its glory, right down to the memorable music score:



Interestingly, it was somewhat based on two real-life experimental turbine trucks.

Here's some inspiration they got from Ford: https://dyler.com/posts/311/ford-s-b...30-metres-long

And here's what they cribbed from GM: https://nodum.org/wp-content/uploads/2018/01/gam.jpg

There was another Speed Racer episode called "Car with a Brain" that had a big, black monster rig that was designed by some made scientist in Scotland. It got powered up during a thunderstorm and then went out on a rampage, while its creator went raving mad, losing his mind, and couldn't tell anyone how to stop it.

That really is amazing to think that 2800 lb of gold would fit into a space that small. But, sure enough, I just looked it up...a gallon of gold is about 160 lb.
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Old 01-04-2021, 03:52 PM   #45
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What to do if you are already wealthy: Try to stay wealthy, darn it!

Same thing about staying healthy, except that it is harder. A lot harder.
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Old 01-04-2021, 03:58 PM   #46
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I guess I need to start releasing my own newsletter, now that I'm retired and the XMas decorations are put up.
I'll give you all a very generous break on my yearly subscription rate!



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Originally Posted by RetiredAtThirty-eight View Post

But, according to this site, his net worth is only $1.9 million:

https://networthpost.org/net-worth/d...sey-net-worth/

That's shockingly low for a 75-year old man who has been a life-long investor, financial author, economist and espouses giving $0 to charity!
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Old 01-04-2021, 04:27 PM   #47
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This makes little sense Rich unless you’re referring to the philosophical concept of wealth as being “satisfied.” For example, a lower middle class family being classed as “wealthy” because they can afford life’s essentials and want no more than that.
genuine apologies as I thought i was clear. i obviously was not.

i don't restrict my definition of wealth to just the accumulation of assets over time. when i was a kid i had no idea just how lacking in material assets we were. my dad worked, mom stayed at home until we were older and then took a part-time job just to be busy. but we lacked for nothing...or as you put it, 'we were satisfied'. we lived in a new house in a new suburban subdivision, drove new and used cars but kept them forever, ate well, were clothed well, had hobbies and took vacations. not exactly living hand-to-mouth or just getting by with life's essentials.

but we also were taught to work for what we wanted or had. we received allowances but were expected to earn them. when time came for college we each received tuition for the first year. if we wanted more we were expected to work for it. there were no credit cards in those days so other than the mortgage and car loans this was a cash-flow existence. about the only thing my parents didn't pass on to me was the magic of investing. didn't try that until i was in my 30's and even then my wife and her brother dragged me along (but it didn't take long for me to wise up).

was my family wealthy? maybe not in actual $ but absolutely yes in everything else that was far more important. my wife was brought up much the same way. maybe that's a generational thing. we'll be married 51-yrs in March...53-yrs together counting high school...and in all that time we've lived pretty much the way we were raised. is it better having $...you bet. but we've always considered ourselves as being 'wealthy' regardless of our net worth. we've lived the quintessential LBYM lifestyle.

i'm not knocking literal wealth ($) or those who accumulate it. we've done pretty darn good over the last 4-decades. but, unlike some, it's not what we live for.

that's what i meant by 'wealth = not wanting for anything'. that answer may not be true to the point of the original post but I wanted to present a different perspective.
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Old 01-04-2021, 04:36 PM   #48
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Originally Posted by Andre1969 View Post
It was a 2-tone red-over-burgundy. Here's a clip of it in action, from Youtube, in all its glory, right down to the memorable music score:
Thanks for that!

Interesting that those concept designs are shorter than a now-standard double LCV (tractor-trailer-trailer), let alone a triple.

Quote:
That really is amazing to think that 2800 lb of gold would fit into a space that small. But, sure enough, I just looked it up...a gallon of gold is about 160 lb.
Yeah. Gold is about the worst substance in the universe that I could think of to make a race car out of. Very dense and very soft.
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Old 01-04-2021, 04:46 PM   #49
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Originally Posted by Out-to-Lunch View Post
Yes, the metric system is quite easy.
I first did the calculation on a lark from the old saying "He is worth his weight in gold".

I've been doing this calculation for decades on my NW spreadsheet . At first I didn't realize gold was sold in a troy oz which is different than a normal oz. The troy ounce is the equivalent of 31.1034768 grams, whereas the ounce is the equivalent of 28.349 grams. That day was a let down.

I have crossed that line where my NW> weight in gold a few times. I use my weight and my wifes weight in the calculation. The problem now is; gold has been going up faster than my NW, and I'm at my max weight.
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Old 01-04-2021, 06:14 PM   #50
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Originally Posted by TOOLMAN View Post
I first did the calculation on a lark from the old saying "He is worth his weight in gold".

I've been doing this calculation for decades on my NW spreadsheet . At first I didn't realize gold was sold in a troy oz which is different than a normal oz. The troy ounce is the equivalent of 31.1034768 grams, whereas the ounce is the equivalent of 28.349 grams. That day was a let down.

I have crossed that line where my NW> weight in gold a few times. I use my weight and my wifes weight in the calculation. The problem now is; gold has been going up faster than my NW, and I'm at my max weight.
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Old 01-04-2021, 06:17 PM   #51
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I am definitely not wealthy if I include my wife's weight, even though her BMI is only 21.5.
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Old 01-04-2021, 06:55 PM   #52
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I am definitely not wealthy if I include my wife's weight, even though her BMI is only 21.5.
I'm not in the 1% club for NW by age.

The top 1% household NW (wealthy) continues to be about the same as "worth your weight in gold".


age NW
------- --------------
55-59 $17,545,848
60-64 $14,629,637
65-69 $16,439,046

https://dqydj.com/average-median-top...ntiles-by-age/
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Old 01-04-2021, 06:56 PM   #53
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If you're already wealthy you can do anything you want.

Yeah, no need to waste time reading articles about what to do if you're already wealthy.
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Old 01-04-2021, 07:53 PM   #54
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Highlights:
1. What is wealth?
2. Figure out your purpose in having money.
3. Don’t give your money to charity.
4. Divide Your Wealth Wisely.
[/url]

My take:

1. At my age (59), wealth = health + enough money to enjoy my lifestyle
2. See 1.
3. My starving musician son is the charity case.
4. See 3.
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Old 01-05-2021, 05:46 PM   #55
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A unique point of view not often expressed. If you have the same mindset as the author, he makes some interesting points. Don't just reinforce your own beliefs, understand how diverse others might be.

VW
I agree. I thought he made some good points.
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Old 01-05-2021, 06:52 PM   #56
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Originally Posted by robnplunder View Post
My take:

1. At my age (59), wealth = health + enough money to enjoy my lifestyle
2. See 1.
3. My starving musician son is the charity case.
4. See 3.
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Old 01-07-2021, 12:00 PM   #57
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I agree. I thought he made some good points.
Yeah, me too. Especially when he said
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A final word of advice: Don’t consume more than you make: save! Don’t spend: invest!
I still find it hard to argue against LBYM and investing. But, apparently many here can.
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Old 01-07-2021, 01:55 PM   #58
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I agree. I thought he made some good points.
Stop!

Keep thinking like that and you will find yourself on ER.org secret probation.

Next thing you know you'll me telling the group that you haven't paid off your mortgage. LOL

#groupthinkonly
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Old 01-07-2021, 02:38 PM   #59
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Stop!

Keep thinking like that and you will find yourself on ER.org secret probation.

Next thing you know you'll me telling the group that you haven't paid off your mortgage. LOL

#groupthinkonly
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Old 01-07-2021, 02:40 PM   #60
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I haven't read the article yet, but I can tell by your comments I am going to find it interesting and at least some of it enlightening.
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