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I went through a period where I loaned money to anyone that asked me

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Re: I went through a period where I loaned money to anyone that asked me

#91

I've always heard the best way to get rid of someone from your life is to loan them money. People who owe you money make themselves scarce.

This is rarely ever the case. If you "loan" someone money once they will just keep coming back and asking for more. Even worse, they will tell people and you will get the reputation of someone who is generous with money, and soon everyone will be asking you for some.

Re: I went through a period where I loaned money to anyone that asked me

#92
post #9

I loan money to people and never expect to be repaid. If someone asks for $2k I give them $5k. $400 give them $1k. Sometimes I get paid back. Usually not. It’s because people are aware I have money so various people ask. The goal isn’t to get paid back. Often these acquaintances cut off all contact. The goal is to never be asked for money again and slowly bled out by frequent sob stories. If they know they are alread…

Would telling them to go fuck themselves not be cheaper and easier? Edit: I don’t have fuck you money, so I am actually ignorant of the dynamic you’re describing. I’d rather be known as an asshole with backbone than a rich sap though. One of those looks more like a mark than the other.

Its better to not focus on the amounts, as everyone has "fuck you money" at some level. I see it as something that scales based on your financial state.

Surely you've spent some amount of money on frivolity.

Re: I went through a period where I loaned money to anyone that asked me

#93
I loaned a close college friend $7000 last year. Due to life circumstances and lack of family resources, he was stuck in a rural area with no developer jobs. He was having trouble landing a remote job and I ignorantly asked why he wasn’t applying to in-person jobs on the west coast.

He told me that he certainly wouldn’t be able to afford to move and I told him “don’t let that stop you”. Fronting him moving expenses was the best decision I ever made, even though it had a chance of not working out. Six months later he’s making 10x the wage he could get in his rural area, and I’ve been paid back with (unrequested) interest.

I guess my message is: sometimes loaning money won’t work out, but when it does, the ROI (emotionally and for society) is extremely high.

Re: I went through a period where I loaned money to anyone that asked me

#95
post #35
post #8

Earlier quoted context omitted.

That is so surreal to me. I had to loan money from friends for real emergencies and always made sure they get paid - often more than they gave. How can one not be guilt-ridden until their deathbed?

If you're struggling, and get $1000 from someone who made $100M on crypto, would you be in a hurry to pay them back, or even care at all?

Yes. Im not overly concerned with how someone made money but i am concerned at being a person that thinks other people don’t deserve what they have

Re: I went through a period where I loaned money to anyone that asked me

#96

Cue all previous debts being paid back to John Carmack so that their latest business venture gets some free marketing.

Doubtful. Most people (including Mcgee) probably don't want the world to know they didn't pay back a debt for nearly 3 decades

Re: I went through a period where I loaned money to anyone that asked me

#97
post #20
post #11

I'm surprised American McGee hasn't paid him back prior to this. I always assumed that McGee was more successful than he apparently was. Probably due to him putting his name in front of the game's title.

Sounds like McGee might not have got his fair share of Id's success. Maybe Carmack felt bad about that.

He had Alice and...that was about it. Pretty much everything else he slapped his name on was a flop. Then he did the sequel to Alice and it got lukewarm reception.

Re: I went through a period where I loaned money to anyone that asked me

#98
post #83
post #64

Earlier quoted context omitted.

> get $1000 from someone It's not "get" if it's a loan. The IRS might also be interested if you treat this a taxable gift rather than a loan... (unlikely they'd care for $1000).

Why the heck private gifts are taxable and it is tolerated?

In the US, gifts of up to $11M or maybe $12M are not taxable.

Re: I went through a period where I loaned money to anyone that asked me

#99

I loan money to people and never expect to be repaid. If someone asks for $2k I give them $5k. $400 give them $1k. Sometimes I get paid back. Usually not. It’s because people are aware I have money so various people ask. The goal isn’t to get paid back. Often these acquaintances cut off all contact. The goal is to never be asked for money again and slowly bled out by frequent sob stories. If they know they are alread…

[deleted]

Re: I went through a period where I loaned money to anyone that asked me

#100
Is this a techie issue? When I got my first relative high paying job I was quick to loan money. I think I felt a bit guilty so I felt I could help others. In time I stopped but looking back I loaned money to people that could not manage their finances and wasted their money rather than people that truly needed it. I never got a penny repaid. I guess it's a live and learn situation. Now it would take a lot for me to lend money. It's not likely to happen.
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