So if I wanted to write you a check today in exchange for you giving me 10% of your income for 10 yrs, how much would that check have to be for you to do the deal?
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This is interesting, if I was in college and I just graduated, if you gave me 50k so I could take 2 years to adventure, I’d give you 10% for 10 years I think.
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Ummm can I retroactively give you 50k?
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Just did the math, based on my annual salaries each year, I would have paid you 180k, so 3.5x but I could have travelled and worked for free for longer and built cool stuff, I wouldn't even be mad
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OK let's do 20% for 20 yrs :)
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you weren't planning on me making less than 7k annually for 5 years were you!
#longcon#committed -
Not sure where the right inflection point is, but man I want to be right on the other side
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I would charge you the total plus 2.5% cost of capital paid semi-annually.
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What is the total? Just your current income * 10?
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Yes. However I’m assuming your question has relevance to
@LambdaSchool and the 10% would come from my income on an annual basis correct? -
Only vaguely related
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If you wanted 10% of my income for the next 10 years up front, I would charge you 2.5% maybe 3% interest for cost of capital semi-annually then expect the principal at the end. I would stay that low on the interest because I am protected if my income increases.
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No one would charge an upfront amount to borrow 10% of their income times 10. You are open to inflationary risks taking an upfront payment.
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So basically you'd take the bet that your salary isn't going to increase much
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The opposite. I know my salary will increase over 10 years so I would rather give you all 10% up front not over 10 years. That protects any wage increases I receive from you, the borrower.
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The “answer to the ultimate question of life, the universe, and everything,” ... is 42.
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$42 on the way
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Just the total - I invest it and take the interest. Interesting idea as the logic of the financial system now is exactly the opposite. I.e. I pay for the advance loan.
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The total of what? Your income * 10?
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10 x 10% up front
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