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  #81  
Old 08-07-2018, 09:33 AM
my_alt my_alt is offline
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Originally Posted by Colonel Smoothie View Post
Needs only arise in the context of wants. Why would someone wanting a $2M car instead of a $400k car be any more vain than someone wanting 3 meals a day instead of 2?
This is a joke, right?
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  #82  
Old 08-07-2018, 10:03 AM
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This is a joke, right?
I thought hard about it, but I couldn't come up with an objective answer to my own question.
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  #83  
Old 08-07-2018, 10:10 AM
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I thought hard about it, but I couldn't come up with an objective answer to my own question.
I think the thinking is accurate within groups, although in the example you've provided I think you can get to things that are objective needs, at the very least in a relativistic sense.

To see, why not compare the guy who wants 1 meal instead of 0, rather than 2 instead of 1? Clearly wanting 1 meal over 0 is a need, else the person will cease to need or want. And wanting 2 over 1 leads to better health, so still pretty needy.

By the time you're up to 400K car vs 2M car (does this even exist?) you're far removed from any pretext of "need".
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  #84  
Old 08-07-2018, 10:13 AM
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To see, why not compare the guy who wants 1 meal instead of 0, rather than 2 instead of 1? Clearly wanting 1 meal over 0 is a need
There's a lot of assumptions baked in there. A person doesn't need a meal - that need only arises due to a person's want to survive. Does the person need to survive? Now that's a tough question, I don't know the answer to that.
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  #85  
Old 08-07-2018, 10:15 AM
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225k with 30 years of experience and fcas sounds depressing
Unless you are absolutely brilliant and a little lucky, I would tell you to prepare to be depressed when you get to my age.

I know there's salary surveys out there, but just based on my job, my close peers/friends, and jobs I've looked at, I would say that an fcas with 30 years experience who is still a "working actuary" is probably making between 200-250 and working pretty hard for it.

Those in this boat who are making more have probably risen into exec ranks or at least a chief actuary type role with 10ish or more direct reports.

So if you want more, I would tell you to do whatever it takes to get on an exec track, start managing as early as you can, work on leadership-y type skills etc

But I do want to add a general observation. One I had before this thread but this thread confirms it: many younger actuaries are totally unrealistic about what your likely salary ceiling will be. I actually talked to a college kid the other day, son of my neighbor who is act sci, who said "I hear actuaries your age make 4 to 5 hundred grand". I was like lol would I be living here if I made 500 grand.

I mean, it can happen, if you get the big job, but you gotta get on that track early, and even if you do, there's a crapload of other brilliant insurance professionals who will be competing for that big job.
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  #86  
Old 08-07-2018, 10:17 AM
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Originally Posted by Colonel Smoothie View Post
There's a lot of assumptions baked in there. A person doesn't need a meal - that need only arises due to a person's want to survive. Does the person need to survive? Now that's a tough question, I don't know the answer to that.
Fair enough. Could we not though rank the want of a second meal as objectively smaller than the want of the first meal? As the first simply allows you to survive while the second merely improves that survival?
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  #87  
Old 08-07-2018, 10:28 AM
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Originally Posted by NormalDan View Post
I think the thinking is accurate within groups, although in the example you've provided I think you can get to things that are objective needs, at the very least in a relativistic sense.

To see, why not compare the guy who wants 1 meal instead of 0, rather than 2 instead of 1? Clearly wanting 1 meal over 0 is a need, else the person will cease to need or want. And wanting 2 over 1 leads to better health, so still pretty needy.

By the time you're up to 400K car vs 2M car (does this even exist?) you're far removed from any pretext of "need".
2018 Bugatti Chiron is ~$3M
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i think everyone needs to do this type of thing to get a dose of reality and straighten people up. it's kinda like going to the mountains and becoming a monk except it's with hundreds of potatoes and a lot of stoners with tattoos in a kitchen
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  #88  
Old 08-07-2018, 10:38 AM
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2018 Bugatti Chiron is ~$3M
Jeez. If I'm paying 3M for a car it better drive itself AND go back to the future
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  #89  
Old 08-07-2018, 10:38 AM
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idk what all this chitchat is about. lol
People seriously having a hard time understanding the mentality of really wealthy people?

The additional happiness money brings as you become wealthier slows pretty quickly, but the rate in which it slows differs from people to people. Some just love money more than others for different reasons. It seems like the guys that are never happy are those who have to compare themselves to others who are richer than them all the time.

You could be a multi billionaire like Donald Trump but then there is Jeff bezos whose net worth is more than 10x greater.
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  #90  
Old 08-07-2018, 10:40 AM
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It's kinda like watching one of those videos of star size comparison. You thought the Sun was big? noooo there is a bigger star....you thought that was big? there is even a bigger one! and so on.
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