DFW BS Thread : ********NEW MEET!! CHECK POST #1*******

It’s getting really hard to survive in oil & gas these days...

 

Hopefully, it bounces back with a vengeance, even though I get 13-14 mpg. I don't like seeing any Americans out of work.

 

Truth, my hours have been cut back.

 

Yeah my dad hasnt been able to go out to Odessa to work for a month now. My girlfriends dad is an executive at Targa and he had to take an 8% pay cut for the next 3 months.

 

It must be tough losing a fraction of millions

 

He makes around 500k, he’s not a millionaire

 

Then he's not very good at finances, I am worth way more than 2 years of salary.

 

If hes not a millionaire making that, hes a dumbass

 

Not sure what you mean. It’s a small company. Not everyone can be as perfect as you man.

 

As a base, SEC filings tell a different story

Edit: public information included

 

People think having money be like it is, but it do

 

I’m just going off of what my girlfriend tells me, maybe he makes more idk. Sorry I’m an ignorant person.

 

A person is a millionaire when they have assets in excess of $1,000,000. If someone makes $500,000 a year it only takes two years to earn a million dollars.

If that person spent $100,000 a year on dumb shit and $100,000 on living expenses that would allow them to put $300,000 towards building assets. With a mediocre rate of return, they would be able to become a millionaire, from zero assets, in a little over 3 years.

The size of the company means nothing but your girlfriend's dad is above the US top 1% of income earners of 421,926 or Texas top 1% of 440,758.

 

I wonder what that side of the fence is like...

 

No clue. I've never made over $52k in a year, before.

 

This quarantine has you guys arguing about some silly isht

 

Hey, the guy isn't a millionaire, he just makes 10x what you do

 

I’m not arguing I made a comment but was quickly proven wrong by experts

 

I make considerably less. I'm on indefinite, VA disability-funded, vacation. I'm comfortable, though. I just find it interesting when people who make 6-figures complain about income and they're not business owners. I don't get it. I budget and make less than 20% of what most make and all my bills are paid, emergency funds are funded, play money is spent.

I feel bad for the guys who were shit-canned or furloughed and still haven't received unemployment and have run out of money.