Christian Koloko Update

[WaltFrazier]

I got 3 pages of Koloko and 2 pages of people with no life experience.

Duffman the mod is taking part in the off topic financial discussion. Maybe he should change the thread title or separate this stuff out from the Koloko posts

[dublo7]

? what update...?

[Drakeem]

But how do you save money at 18 for 8 years until you're 28?

It's something I had to do as my parents weren't well off and I had dreams of owning property in the city. Just gotta learn to say no sometimes, to other people, as well as yourself. Not saying you need to become an absolute hermit, but sometimes you gotta turn down that vacation, or that night out, or that new device or game or piece of clothing. TBF COVID helped me save up for the down payment on a condo here, but it was a lot of night being jealous as well.

[Indeed]

But how do you save money at 18 for 8 years until you're 28?

It's something I had to do as my parents weren't well off and I had dreams of owning property in the city. Just gotta learn to say no sometimes, to other people, as well as yourself. Not saying you need to become an absolute hermit, but sometimes you gotta turn down that vacation, or that night out, or that new device or game or piece of clothing. TBF COVID helped me save up for the down payment on a condo here, but it was a lot of night being jealous as well.

Indeed, and not just "sometimes", basically I had no vacation, no night out, no new device, no movie, etc. My entertainment + new cloth + anything non essential budget was $500 a year. Those around my age who owns a condo did the same thing, and even after owning a condo, we are doing the same thing to pay them off until salary raised (unlike rent, a locked mortgage doesn't increase).

I can't say the same for my next generation with the increase in real estate, and I don't jealous others, because I know a lot of people also give up a lot for it.

[Thaddy]

He's got a career in basketball even if he can't play. He was a great rim protector and he could help the Giants in Africa program. He would be a lottery pick in this draft if he was a 4 year prospect. The rim protection he provided was top tier, the offensive game was the only part that needed improvement, and it was. He was going to be a Jalen Smith ++ player in his prime.

[YogurtProducer]

"Save $300/m at 18, for 8 years until you're 28"

Huh?

You might buy a nice used car with that

Learn to invest.

https://www.fidelity.ca/en/growthcalculator

Before a 17 year old commits to a 50 - 100k purchase they should learn to balance a cheque book first.

Learn how money works…before you spend it.

Spoiler warning: yogurtproducer is going to rant about how he knows better

I do know better than you, as you are a guy who said:

That 50k invested simply would set them up for life.

Just incredibly wrong information.

A) you need a hell of a lot more than 50K to be set for life

and

B) 18 year olds generally don't have $50k to invest. Kids going to school go to school and utilize student loans generally to do it. So these kids cant just invest cash that does not exist.

Learn to invest.

https://www.fidelity.ca/en/growthcalculator

Before a 17 year old commits to a 50 - 100k purchase they should learn to balance a cheque book first.

Sweet! So these kids with $50k they do not have can invest it and in 40 years when they are 60 years old they will have $163K - AKA - still not enough to get you through retirement.

Just incredibly out of touch man. From the fact you think you can start a career through the mail room, to that 18 years old have $50k to invest, to that you need to know how to "balance a chequebook" (cheques barely exist anymore my guy) before you spend money.

We as a society really suck at teaching financial literacy... and I hate to break it but your points are exhibit A.

[agkagk]

You might buy a nice used car with that

Learn to invest.

https://www.fidelity.ca/en/growthcalculator

Before a 17 year old commits to a 50 - 100k purchase they should learn to balance a cheque book first.

Learn how money works…before you spend it.

Spoiler warning: yogurtproducer is going to rant about how he knows better

I do know better than you, as you are a guy who said:

That 50k invested simply would set them up for life.

Just incredibly wrong information.

A) you need a hell of a lot more than 50K to be set for life

and

B) 18 year olds generally don't have $50k to invest. Kids going to school go to school and utilize student loans generally to do it. So these kids cant just invest cash that does not exist.

Learn to invest.

https://www.fidelity.ca/en/growthcalculator

Before a 17 year old commits to a 50 - 100k purchase they should learn to balance a cheque book first.

Sweet! So these kids with $50k they do not have can invest it and in 40 years when they are 60 years old they will have $163K - AKA - still not enough to get you through retirement.

Just incredibly out of touch man. From the fact you think you can start a career through the mail room, to that 18 years old have $50k to invest, to that you need to know how to "balance a chequebook" (cheques barely exist anymore my guy) before you spend money.

We as a society really suck at teaching financial literacy... and I hate to break it but your points are exhibit A.

And now your pretending to not know how compound interest works after pretending night school/part time classes arent a viable more sensible option even though you actually later admitted to doing that very thing.

Its all verbal masturbation bud

[LoveMyRaps]

Where am I man....

Where did I end up....

What are these calculations going on....



Rename thread to 'Calculation Koloko Updates"

[Aventador]

I got 3 pages of Koloko and 2 pages of people with no life experience.

end thread.

Can we talk about CK now? I think we can all reasonably agree he is not set for life, but has a very strong head start to get there.

His skillset would be applicable to a lot of teams if he can get out there.

[Duffman100]

I think we can probably lock this until there is actually an update.

[Duffman100]

I got 3 pages of Koloko and 2 pages of people with no life experience.

Duffman the mod is taking part in the off topic financial discussion. Maybe he should change the thread title or separate this stuff out from the Koloko posts

Y'all complain when I don't mod, y'all complain when I mod too much. My locks ain't gold.