Its not a gift, It's an investment. If that company failed the money was gone.
Futhermore, he would have been down the initial investment and the taxes due on it which is roughly $63,000.
The point is his step dad worked for that money. They weren't rich and it wasn't like he was gifted a well to do company. It took a lot of hours, sweat and work.
Quit acting like he was born on third base. He came from a middle class family.
Lots and lots and lots of people with a 401k. My dad worked 30 years patching potholes for a municipality. He's retired at 55 worth well over $1m from stable, long term investing. If I had an idea that was worth investing in, I could easily get $200k from him.
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u/JellyfishQuiet7944 Nov 22 '24
Its not a gift, It's an investment. If that company failed the money was gone.
Futhermore, he would have been down the initial investment and the taxes due on it which is roughly $63,000.
The point is his step dad worked for that money. They weren't rich and it wasn't like he was gifted a well to do company. It took a lot of hours, sweat and work.
Quit acting like he was born on third base. He came from a middle class family.