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Schiff for Brains
I've seen a lot of chatter lately about the interview with Andrew Schiff in which he complained about how hard it was to get by on just $350,000 a year. The "smaller bonuses" environment on Wall Street is hitting the well-off in ways that the middle class finds, shall we say, unsympathetic. There are, last time I checked, 1228 comments on this one story, pretty much all of which tell Mr. Schiff to get stuffed.
Schiff, who bears a disturbing resemblance to Judd Hirsch in Ordinary People, was not the only suffering 1% to be interviewed. Regarding another individual, the article states: "Scheiner said he spends about $500 a month to park one of his two Audis in a garage and at least $7,500 a year each for memberships at the Trump National Golf Club in Westchester and a gun club in upstate New York. A labradoodle named Zelda and a rescued bichon frise, Duke, cost $17,000 a year, including food, health care, boarding and a daily dog-walker who charges $17 each per outing, he said."
I actually sort of understand what the people interviewed are trying to say: once you get used to paying for a certain lifestyle (private school tuitions, nice cars, a vacation home, a gardener, etc.) it all adds up to a pretty big figure that needs to be covered each year. I have a good income that most of the U.S. would think of as pretty healthy, but believe me, I'm always worried about money. If I were a single man living on his own, I'd be living like a king (or, more accurately, I'd be able to save about 80% of my income, since it really doesn't cost that much for me to survive on my own). But these days, tuition to elementary school is literally four times what I paid going to a private college each year. And that's just one of many expenses.
For those of you out there who are pulling down big salaries but have seen their massive bonuses trimmed down to simply very big bonuses, here's my tip: don't go near a microphone. It's really not going to do you any good.
- advertisements -
money for nothing and your chicks for free
fixed:
money from nothing and shiksas for free
ha ha, I love it!
Comment Hall of Fame nominee.
Double post
Being a slave to an advertiser's lifestyle is the same, whether you're making a thousand or a million. You can never catch up with all the shit they're advertising on TV.
a friend used to play a game with pals. i love it. they would go round robin and whoever was next had to buy whatever was advertised next during the superbowl. by the end of the 'game' - anybody was going to be broke even if you had 5 guys watching. and you ended up with a lot of stuff you didn't need or want :) .......................
is this shit fuck related to the other ass fuk schiff? fuking look alike! stop fuking inbreeding u fuks!
thats a lot a fucks there lololol fuck fuck fuck fuck fuck fuck fuck fuck
17000 for fucking DOGS? W T F
Those pooches probably eat filet and salmon, and wash it down with imported bottled water. Grooming, dog therapist, etc. and it all adds up fast.
Funny, he is no better than so many idiots at a fraction of that salary. Bigger paycheck just means bigger bills.
You said it man. Plenty of people will take out a second mortgage for their pet's exploratory surgery.
+infinity on the header!
Whoever taught Schiff his PR schooling should be sacked. I mean, in this climate, the thing potential consumers are looking or is: "humility".
Shit ain't great for us single dudes, either. I barely survive on a $30K/yr salary here in Boston.
Hell, I am unemployed trying to make it in Dallas. I am an engineer by training and actual make things. Not robbing from people like this d-bag.
Pussy-looking dude needs to get a real job, something manly.
Mebbe he should work for Smithfield Packing Corp, he can run full speed all day as if the devil is chasing him in a giant, freezing, blood-soaked concrete room full of others with razor sharp knives ...
Maybe all of you should fuck off and die.
This is a fucking Austrain blog and we are sitting here reading some fucking hit piece on the Schiffs ?
Go fuck yourselves all you Nazi fucking lowlife.
how u say fuck off deuche bag,,,,, go kiss the guillotine good night
Wazza mattuh Spitz...Ukrainian whore have a headache?
That looks like a prison photo. You have to wonder what is going on with their offshore Europacific Bank. Peter always talks about having to leave the country taking operations offshore due to excessive regulation and specifically mentions money laundering. I would not trust any of my hard earned money with these people. Too many dark clouds surrounding them.
Stuff it up your gob, "Schiff for Brains" Mate. F*@$ing Edomite!
And 5 stars to you sir for the bears story.
I mean, milking bile out of wild bears - now that sob is earning his money...
Schiff should try that for a while.
This means stocks are going up...right?
First a BBC story on Bears
http://www.bbc.co.uk/news/world-asia-china-17188043
Second WB7 comments on those who " sort of understand what the people interviewed are trying to say"
http://www.zerohedge.com/contributed/2012-09-01/has-anyone-checked-out-a...
5 stars for WB7's contribution
He doesn't look anything like Judd Hirsh.
more sort of like this dude
http://www.google.com/imgres?q=tim+knight+slope+of+hope&num=10&um=1&hl=e...
LOL
i call BS. Families making 80K (double national average) live by comfortably and send kids to nice schools, go out for dinner, nice life etc
If you fail to eek out a comfortable life in US with 350K, you dont deserve to be "financial expert". Just go work flipping burgers.
That is all relative.
Depends on where you live.
Depends on where you came from.
Making 500k per year and then "downsizing" to 80k is super hard. I am not talking about this douche and his retarded expenses. Its easy to have cc balances, boat/rv etc that were never an issue - money in the bank to pay at least a year expenses. Go from 500k to 100k that year of expensees gets used up in about 6 months EVEN with cutting a ton of things out. Odds are your housing expense is probably 5-6k per month easy - at 500k that is no big deal. At 100k that is -3000 per month probably on your cash flow after other bills. The things you sell you can, even at a loss to get rid of the payments. You might want to sell your house or condo but what if no one will bite or the market is down like now??? You are now trapped in 6k a month payments when you only bring home about 8k per month before taxes.
holy crap, even netting 200,000 a year gives a family 16,600 and change a month! thats a huge amount of money that can give any family (with their heads on straight) great financial freedom.
money alone doesnt buy you happiness, but it can sure take you from happy to ecstatic......
The problem is, people who've never gotten close to the lifestyle truly RICH people can't properly evaluate what's a reasonable amount to spend on pets and parking.
This guy (Schiff) is just realizing that "upper middle class" is still actually working class, and he's annoyed. One can hardly blame him. He probably thought earning a good salary would let him live like the folks who really have money.
What a retard I am for going to college.
Fucking pet walking is where its at. $17 per visit - I can gather up 8-10 dogs. Walk for 30-40 min, return, move on to the next group.
Would be easy to walk 3-4 groups a day, pull down $500.
I can make 100k per year with not even having to know how to read or write, muchless think.
He just found out there is a big club, and he isn't in it.
It's not a "big" club.
Try living in NYC on 80k and go out to eat and send your kids to a nice school. If you live in NYC and can make all this happen on 80k a year, then tell us your secret.
The /sarc is off right now. This is a serious question.
The microphone comment is priceless and commonsense.
you think majority of families make more than 80K in NY city ...
flash news! both median and mean household income in new york city is less than 75K.
http://en.wikipedia.org/wiki/Demographics_of_New_York_City#Income
Area MedianHouse-
hold
Income Mean
House-
hold
Income Percent-
age in
Poverty Bronx $34,156 $46,298 27.1% Brooklyn $41,406 $60,020 21.9% Manhattan $64,217 $121,549 17.6% Queens $53,171 $67,027 12.0% Staten Island $66,985 $81,498 9.8% New York City $48,631 $75,809 18.5% New York State $53,514 $77,865 13.7% United States $50,140 $69,193 13.0%
Why the fuck do you live there? Can't get off the hampster wheel?
Nice pun, Moe. These poor people are now beginning to understand that the HAMP program is just a sham. Pay your mortgage, or go live with the little people. I think they would learn a good lesson in life if they would reject the lifestyle offered by the so-called tony communities, which provide their own style of "affordable" housing. These people just don't realize that they are chattel like the rest of us.
Who wants to live in that shithole, surrounded by pricks?
It can be done in the boroughs. Longer commute but totally possible. Kids will have to commute farther for a decent public high school too. They'll have to study hard to get into a good public high school but it's doable. There are pretty good restaurants in Brooklyn and Queens that aren't pricey especially if you skip the alcohol. But I'm guessing NYC just means Manhattan.
Manhattan is out of the question unless you're living above 96th St. It's also ridiculous from a lifestyle perspective to live in Manhattan with children no matter how much money you have (unless you're mega rich) because the children can't have a decent childhood there. Manhattan is certainly a money pit whether you're renting or owning, and for groceries, and everything else. It's just not a place for families anymore. Anyways people like this Schiff guy are out of touch with reality and better off ignored. I know some finance people in the city and they seem to be self-delusional. Whenever I tell them the big banks they work for will fail or be broken up, they tell me that they'll still have their jobs, it won't affect their department. These people spend a lot of money on stupid things primarily rent. They have to live in Manhattan for some kind of pride or saving face reason. They also have to have a doorman or live in a loft if there is no doorman.
They are pathological in that they see nothing wrong with making money by taking money. For example, people who start companies they know will never be profitable, but start them anyway so they can sell them at inflated prices to suckers. It's pointless to expect reason from a sociopath.
Livin in Manhatten. It's a Tribal thang.
jayman21, you are exactly right, it does depend were you live....And yes, Schiff is an idiot for talking to the press, I am sure his firm is really happy.
In the words of the great /sarc Charlie Munger, "Suck it up." Everyone else is, and yet somehow it's not quite interview worthy; go figure.