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[quote=Anonymous][quote=Anonymous]I’m a mortgage underwriter and see a ton of broke rich people. We give them loans anyways. They just gotta keep running in that golden hampster wheel. [/quote]

Lived in SF area in early 2000s for a few years (right before and during the tech bubble burst).  So many people were over extended. They figured their stock options would ultimately be worth something...... until they weren't.  But they had bought a house, taken vacations, bought cars with the idea that this money would eventually be coming.  Houses dropped over 500K in value and many couldn't sell without actually owing money to the bank.  The people we knew in their late 20s/early 30s were not investing for retirement (and would talk about this), because pending stock options would make that unnecessary.  Basically everyone was enjoying the good life at the high end and not much savings.

Even knew several people who had "purchased their options so it would eventually be LTCap Gains", except you then owe taxes on this, even if the stock is worthless.  As in people owing mid 6 figures in taxes, yet their stock options are no longer worth anything.  
Meanwhile, we always waited to execute the same day we sold. Sure we paid more in cap gains, but we never owed big taxes for something that was completely worthless. [/quote]

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