Are you a millionaire?
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Anonymous
You’re morons because you can’t do basic math and wrote all you did in the thread above which was wrong even with all your real time verifying. |
Anonymous
Remember RSUs are taxed at vest at market value AND again if you hold and sell later. So you get a grant for $50K / year that is $1M when it vests. You now owe income tax on that $1M and, if you don’t sell immediately, also short or long term cap gains. So your NW is the remaining #. If we’re counting benefits as comp you gotta play fair with RSUs too… |
Anonymous
Not easy for everyone. But most kids could find something with minimal loans and many choose not to. My own kid had two instate schools (not the top school) that were under $20k per year all in. Kid can earn $10k per year that leaves $10k. Most Mc/umc parents have saved or can help with the $10k. Or kid takes the federal loans of $5.5k per year and graduates with $25k total loans and parents help with $5k Has they been searching for merit could have found schools for less. And my kid was a 120/3.5uw no AP kid (so smart but not wickedly smart ) Point is dont take loans that are not needed...you do not need to attend a 90k school unless you can actually afford it |
Anonymous
Please don't post AI walls of text like that. |
Anonymous
All you need is $20k per year and a way to get to/from school. To LMC and MC, that IS the equivalent of $90k. It's completely unrealistic to come up with that amount of money. |
Anonymous
Not true at all. DC is working while in college and makes $30k a year. Started in October at age 18 without any experience. If he becomes VA resident, he can get in-state tuition in September. Right now he is paying out of state, but it's fine. Since his income is low, he can probably apply for grants, but not needed. He is independent from parents. |
Anonymous
Well LMC kids will definately get some FA from both of those schools, bringing the cost down lower. Or you start at our local CC (which are top notch) and do 2 years there. The bus system (we have a good one) runs there and many kids do just that. However, working FT in the summer and PT during the school year a kid/student can earn $10K/year. So take the $5.5K in loans and then it's only $5K left to figure out, if you don't get merit or FA. I get that the $20K is decent money, but it is doable with federal loans (of max $27K for the 4 years), a student working to earn $10K and then the family finding a way to pay the rest. Or as I stated, you start at CC, live at home and then only need 2 years at the State U to finish. Yes, it's not free, but it is doable for most. If you intend to send your kid to college, you plan a bit. My parents were LMC and yet somehow my dad picked up a 2nd job (10 extra hours per week) in the few years before college (and during) for me and my siblings to help with college. My poor parents were very frugal (think my mom made my clothing until I was 8-10, and even then made a lot of it, I had to use birthday money and babysitting money to get other clothing. We got pizza/went out to eat 1-2 times per month, that was it. Everything else was made at home, and we gardened so the freezer was full (and canned other veggies). Yet they helped me with ~$3-4K/year towards college, and that was 30+ years ago. If you want your kid to go to college, you work to find a way. |
Anonymous
There are always excuses to be made. Most LMC and MC students will get some FA and if you search you can also get merit. But $20K is reasonable. See the PP, and realize that yes students can work and earn money. With minimum wage being over $14-15/hr in many places, a student can earn $10K+ in a year. Yes, it's not difficult to have a 10hr/week PT job while also attending college, many do just that (and many of us did that decades ago as well). Also, most LMC/MC kids are attending school within a 2-3 hour drive from home. Typically there are busses your student can take for the breaks for minimal cost. Or the parent/family member drives to get them (or you pay $25 to hitch a ride with another college student from your area). |
Anonymous
This. A 90k undergrad school doesn’t guarantee better jobs than a 20k undergrad school. |
Anonymous
| You call them excuses but you have no idea how other people live. My kid is taking the max in loans so he can't afford FT CC. We don't live anywhere near buses or public transport. He works on-campus but they limit the hours for work study. Saying $20k is reasonable shows your privilege. It means it's reasonable FOR YOU. I drop my DS off at school at 6:45am and pick him up at 9:30pm. We do not have the money for a second car and that's the only way he can get to/from school. |
Anonymous
| The question? Are you happy? Or are you one of those rich depressed low life ready to pull the trigger on their family? |
Anonymous
Yours is the exception. And in that case, your spreading out your eduction over more than 4 years, likely. That's delaying grad school or a career, which means delaying investments/wealth accumulation, and delaying marriage/kids/home ownership. It's trickle down. |
Anonymous
I got pre-IPO options that are DOUBLE TRIGGER. I only pay tax after vesting AND a liquidity event. So my pre-IPO options I exercised as required before leaving company. Yes I did pay a bit out of pocket to exercise. However, when the the IPO happens is taxed at the long term capital rate as I now hold the now RSUs greater than one years. And pre-IPO RSUs do no get taxed when they vest, only when you sell. I also have them. Have them over one year so same thing. |
Anonymous
You need to get smart on what you own because a lot of what you’re saying isn’t correct. Pre-IPO options aren’t liquid unless there’s a strong secondaries market, and most go to $0. I’ve got $1M worth @ 10 cents strike price and would never count them as my NW. I previously had $2M worth at a previously hot startup that, guess what, went to $0 when we did a fire sale. It’s a lottery ticket unless a market for secondaries opens up or there’s an IPO. Look at the recent frozen IPO activity - still feel good? RSUs from a public company are different. My spouse gets $500K year in RSUs. Those are taxed as income at vest AND later if they aren’t sold immediately at vest and increase in value. |
Anonymous
Pre-IPO RSUs are taxes when the company IPOs. The company can either withhold on your behalf (common) or you can pay out of pocket to keep more shares (less common because you have to potentially cash flow millions). Either way you pay taxes on the IPO date based on the IPO price even if it dive bombs in price right after, even if you don't sell. You might want to review how RSUs work. |