tag:blogger.com,1999:blog-5907754758150127241.post6911906182175387762..comments2021-12-12T09:29:09.744-08:00Comments on Road To A Tesla: The Facebook ChallengeShaunhttp://www.blogger.com/profile/05654897560778650994noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-5907754758150127241.post-37450949549752035802016-10-21T07:06:38.706-07:002016-10-21T07:06:38.706-07:00I.... can't... I wouldn't be embarrassed ...I.... can't... I wouldn't be embarrassed if it was revealed, but.... There are only 3-4 people who know my net worth, my wife, my financial advisor and me.danielobvthttps://www.blogger.com/profile/15770902689514604135noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-89932327649954973622016-10-12T10:34:26.656-07:002016-10-12T10:34:26.656-07:00I'm with PoF on this. Because I blog under my ...I'm with PoF on this. Because I blog under my name, I don't feel comfortable broadcasting that information to the world. If I was saddled in debt, though, I would probably have less hesitations. TJhttps://www.blogger.com/profile/11667022178760191203noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-41337942028478380262016-10-10T12:36:46.684-07:002016-10-10T12:36:46.684-07:00I agree. I wonder if doesn't seem like such a ...I agree. I wonder if doesn't seem like such a big deal to us because we are bloggers and used to sharing this information publicly already...Shaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-78101047871987609322016-10-10T11:40:36.654-07:002016-10-10T11:40:36.654-07:00Thanks Shaun for noting that I'm promoting the...Thanks Shaun for noting that I'm promoting the same idea on Money Counselor. Perhaps we should work together to "viralize" the challenge!<br /><br />I'm a bit taken aback by the intensity and diversity of the objections to the challenge I see in the comments on your piece. I see the idea as nothing more than converting the natural but usually financially self-destructive urge many people evidently feel to compete with the Joneses (usually through conspicuous consumption) into something constructive: let's all compete to have the healthiest balance sheet! The neighbor's new BMW and granite countertops might not impress so much if we also knew they also carried $25,000 in high-interest credit card debt! ;)Kurthttp://mymoneycounselor.comnoreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-6849153969246800132016-10-09T17:44:46.468-07:002016-10-09T17:44:46.468-07:00I see your side and I agree, education is the purp...I see your side and I agree, education is the purpose. However, the typical person who sees someone "better off" financially than they are, does not seek education but is more likely to seek pity and handouts. They will ignore any education you provide because they only care for the "short" term. How to prosper now? So many think of today than to think of tomorrow. <br /><br />You can compare it to the old adage, I can give you a fish and you can eat today or I can teach you to fish and you can eat for a lifetime. Mr. Dumplinghttps://www.blogger.com/profile/17531604262864056968noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-54552491123701517382016-10-07T16:12:49.137-07:002016-10-07T16:12:49.137-07:00It comes down to lack of insanity, not fear.It comes down to lack of insanity, not fear.Anonymoushttps://www.blogger.com/profile/16379881341027528765noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-30718390236807349702016-10-07T16:09:54.782-07:002016-10-07T16:09:54.782-07:00Others would likely see it as bragging.Others would likely see it as bragging.Anonymoushttps://www.blogger.com/profile/03468589383811107683noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-86103192197911988982016-10-07T12:50:01.712-07:002016-10-07T12:50:01.712-07:00That would be another good way to start the conver...That would be another good way to start the conversation!Shaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-62366893735277817362016-10-07T11:50:01.922-07:002016-10-07T11:50:01.922-07:00No way! I was hesitant enough to put it out there ...No way! I was hesitant enough to put it out there online, and I'm anonymous. I decided to put it in a guest post, so it would be on my site. http://www.investmentzen.com/blog/i-have-every-dollar-ive-earned-in-my-ten-year-career/<br /><br />There's no chance I would put it on my personal facebook, though. I'm far too humble in real life.<br /><br />Best,<br />-Physician on FIREPhysician on FIREhttp://physicianonfire.comnoreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-2091041480997382712016-10-07T11:20:12.534-07:002016-10-07T11:20:12.534-07:00Good way to stir up the pot. :-) I see where you...Good way to stir up the pot. :-) I see where you are coming from, and I've considered whether or not to share, but I haven't. I've shared with only 3 people: my retired mother and two close friends (one a millionaire, one nearly flat broke). What good can come of sharing an actual number to a wider audience (even of friends)? If you want to help others, couldn't that simply be done with a statement like: "To all my FB friends, family and acquaintances: I've done well over the years in saving money and investing. I'm expect to retire at an early age, despite getting divorced 4 years ago and losing half of my(our) net worth. In fact, in just 4 short years, I've already recovered all of that lost net worth, even while paying alimony and child support. If any of you would like some advice on how to save money and/or invest, I'd be more than happy to help."Escapehttp://www.seekingescape.comnoreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-52453291536853673192016-10-07T10:50:57.724-07:002016-10-07T10:50:57.724-07:00Too touchy of a topic. I really don't want to...Too touchy of a topic. I really don't want to publicly announce my net worth. I enjoy living with stealth wealth.Bateauxnoreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-55515947275882246312016-10-07T10:38:26.818-07:002016-10-07T10:38:26.818-07:00Alas, I would question rigor of the facebook priva...Alas, I would question rigor of the facebook privacy settings to keep the information contained, versus not trusting my friends - I speak with them quite freely about money. I question your bottom line below. I am quite happy to largely have my net worth known to my family and close friends and have them know my goals - again, prudent, not afraid. Anonymoushttps://www.blogger.com/profile/13201600747780349499noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-14736173199439577302016-10-07T10:15:45.987-07:002016-10-07T10:15:45.987-07:00Many of the comments saying this is a crazy idea b...Many of the comments saying this is a crazy idea boil down to one thing: Fear. Fear of being asked for money, fear of being sued. Are you going to live your life in fear? Suppose you are worried about friends asking you for money, so you decide to keep your net worth private. What happens later? What happens when you have enough wealth accumulated to retire early or to buy that new house or take that luxury cruise? Guess what? Those people you think will hit you up for money are going to notice your lifestyle. They may not have your net worth figure, but they will sure put two and two together and figure out you have money. If you have the type of friends who are going to hit you up for money, they are going to do it no matter what. As for someone suing you, that is always a possibility, no matter what your net worth is. You buy insurance to protect yourself. <br /><br />This was the whole point of this exercise. People feel scared talking about money. People don’t know how to save or invest or manage it. If someone asks you for money, look at that as an opportunity to help that person. You may hurt some feelings refusing to give away money and it may be an uncomfortable conversation, but explain that you were in their same situation once. You managed to turn it around and are willing to help them do the same. But it takes effort on their part, not a handout on yours.<br /><br />Bottom line – this comes down to fear. Are you going to live your life in fear or are you going to be proud of your financial prowess? Do you want to help others or hide in a corner? It’s your choice. <br />Shaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-15915248790445010112016-10-07T09:58:58.758-07:002016-10-07T09:58:58.758-07:00Again, I did suggest posting it only to your frien...Again, I did suggest posting it only to your friends. Yes, they may decide to sue you. If that happens, you just found out something about their character and motivations, didn't you? Probably better you found that out sooner rather than later and cut off your relationship with them now. If it's a frivolous lawsuit, they will lose and have to pay attorney's fees. If it's a valid lawsuit, well, that's why you have insurance. See my post on umbrella insurance: http://roadtoatesla.blogspot.com/2015/05/protect-your-hard-work.htmlShaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-1320047397806956532016-10-07T09:52:42.237-07:002016-10-07T09:52:42.237-07:00How long does it take for someone to decide you ha...How long does it take for someone to decide you have wronged them and seeks legal redress now they know you 'have the means' I don't see it as a stigma to not talk about net worth, just prudent.Anonymoushttps://www.blogger.com/profile/13201600747780349499noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-2543054125956795692016-10-07T09:33:34.798-07:002016-10-07T09:33:34.798-07:00I suppose it depends on your friends and family. I...I suppose it depends on your friends and family. I've been doing this every month for the past 6 months and not a single person has asked me for money.Shaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-54144754717137064632016-10-07T08:59:37.480-07:002016-10-07T08:59:37.480-07:00Mr dumpling hit it on the head. And not just frien...Mr dumpling hit it on the head. And not just friends. Family. This is not a fear, this reality. I agree with the needing to change the culture around building savings and preparing for the future, lbym, ect. But posting net worth would the STUPIDEST thing i could do. I already have to deal with you need to buy a new car. Ect. And you cant walk away from your boss and all if your family, great idea but it would naive and foolish. And i am not saying it could go badly. I am certain it willKeylimehttps://www.blogger.com/profile/18163696734160693458noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-60663878462641278512016-10-07T08:38:48.401-07:002016-10-07T08:38:48.401-07:00It sounds like your friends aren't interested ...It sounds like your friends aren't interested simply because they are scared. They might be in a really bad financial situation. You can try asking them what they fear and try to help them. Maybe drop hints that you are willing to share your knowledge. If that doesn't work and you want to find other friends to talk about finances with, try goolging for local investor clubs in your area. Maybe there is a blogger who lives in your area. Shaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-84584145782666423592016-10-07T08:19:14.847-07:002016-10-07T08:19:14.847-07:00None of my friends have the same love for Personal...None of my friends have the same love for Personal Finance as I do. Every time I initiate a convo on that topic, they look at me like deer in headlights :/ Shaun Stuart: How should I go about getting "new friends" who would like to discuss finances with me?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-61990329511302010322016-10-07T08:05:07.636-07:002016-10-07T08:05:07.636-07:00Wow you're really.not kidding about the stigma...Wow you're really.not kidding about the stigma. I'm pretty sure everyones reaction was "I can't do that!!" I'm seriously considering it but just like everyone else have 5,000 stigma voices in my head telling me why I shouldn't. I've always loved the idea of being able to freely tallk about money because its something I've become passionate about and would seriously love to hear people in better off situations how to improve.Desiree Velazcohttps://www.blogger.com/profile/16051654402695586144noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-78576170629538083802016-10-07T07:43:12.467-07:002016-10-07T07:43:12.467-07:00This fear is what prevents people from sharing. Th...This fear is what prevents people from sharing. The solution is to either get new friends or politely explain that you are unwilling to give them money, but you give them advice to help them get their finances in order. Simply not sharing your info does nothing to help anyone. The point of sharing is to initiate a conversation and start educating people. Some of those initial conversations will, most likely, be uncomfortable.Shaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-80808284985596443712016-10-07T07:37:11.597-07:002016-10-07T07:37:11.597-07:00That's one reason why I listed some rules, one...That's one reason why I listed some rules, one of which is don't ask for money.Shaunhttps://www.blogger.com/profile/05654897560778650994noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-3298986444587221892016-10-07T06:59:46.926-07:002016-10-07T06:59:46.926-07:00The issue comes when you are in a better place fin...The issue comes when you are in a better place financially that your "friends" and now that they know you financial situation, they know that you can "foot the bill", "let them borrow" or "give better presents". It's all you perogative but now that they know you "can", they WILL ask and assume. Mr. Dumplinghttps://www.blogger.com/profile/17531604262864056968noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-16236103787672426442016-10-07T06:58:33.806-07:002016-10-07T06:58:33.806-07:00My husbands military as well! Heading to your blo...My husbands military as well! Heading to your blog now. <br /><br />I cant post my net worth to my family or friends either. It's not that I'm ashamed but I don't want to be viewed as others emergency fund.LIZhttps://www.blogger.com/profile/08189913989134235378noreply@blogger.comtag:blogger.com,1999:blog-5907754758150127241.post-54094391632413239012016-10-07T04:39:50.049-07:002016-10-07T04:39:50.049-07:00I did wet myself, but it happens all the time.
W...I did wet myself, but it happens all the time. <br /><br />Wow! I don't know about that!!! I'm not ready for it!! One reason is, my parents don't even know I have this blog and that I own several properties. Also, my co-workers don't know my financial situation. It's unusual for someone in the military.<br /><br />I can't wait to see who is willing to do this!!!Rich on Moneyhttp://www.richonmoney.comnoreply@blogger.com