Mgslots 21 net worth
And apparently, weeks later, navarro sent flato a text saying, “still hate me?” to which he replied, “how could you do that to me?” so yeah, he still hates her.
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Meet the gambler who lost a $100,000 slot machine jackpot because his hot ladyfriend pushed the button
You know how sometimes you make certain decisions that you immediately regret? Like taking that one last shot at the club, or hooking up with your toxic ex?
Yeah, those can be bad decisions, but here’s an even worse decision: playing the slots, letting your hot ladyfriend push the button once for fun, and she wins the jackpot instead of you. Ouch, right?
Well, that's exactly what recently happened to two friends at a casino in florida, and it is a wild story.
At the seminole hard rock hotel & casino near fort lauderdale, a 66-year old dude named jan flato was gambling on slot machines when he asked his friend, marina medvedeva navarro, to push the button for him “for good luck.”
Marina navarro, button-pusher and jackpot-winner. (photo: facebook)
Very good luck it was indeed, because the stars aligned and the angels sang and the reels on the machine landed on the $100,000 jackpot. Hooray!
Unfortunately for flato, though, that money wasn’t his. Oh, no. The hefty jackpot was given to navarro, because she was the one who had pushed the button, and according to some kind of weird casino rule, whoever pushes the button gets the money. Ahh, that sucks. That sucks so, so much.
“upstairs, the eye in the sky says she technically touched the button, so we have to pay her,” flato told the miami herald, his bitterness and contempt definitely palpable.
Jan flato, clearly very upset about not winning the $100,000. (photo: WSVN)
“the person who pushes a slot machine button or pulls the arm is the person who wins the jackpot,” said seminole spokesman gary bitner.
In a situation like this, it might be a nice gesture to split the money, right? I'd think so. But nope! Navarro took the cash and got the hell out of there.
"I said, 'marina, what are you doing?' and she gets up and walks out," flato told local news site, WSVN.
Well, damn. Can you imagine how shitty that must feel? Just when you think you won 100 grand, your friend is like “nah, that’s mine,” and takes the money and bolts, not even leaving you a goddamn cent.
And apparently, weeks later, navarro sent flato a text saying, “still hate me?” to which he replied, “how could you do that to me?” so yeah, he still hates her.
Obviously, flato is still really salty about the whole $100,000 incident, and I don’t blame him. I’d be pissed too if my friend pushed the button on my slot machine and won a lot of money and didn't give it to me.
But I also don’t blame navarro for taking the cash and getting the hell out of there. As bitchy as it sounds, if someone said a $100,000 jackpot was rightfully mine, I'd probably take it, too.
That said, flato has some serious life advice for all you gamblers out there: “don’t ever let them touch the button, don’t even tell them to touch anything for luck, because they can do what marina did to me.”
I guess the moral of the story is that if you’re ever playing a slot machine, do everything yourself and don’t let your friend touch anything.
Pop the coins in yourself, press the buttons yourself, pull the lever yourself – just whatever you do, do it yourself.
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Tiger 21: meet the wealthiest, most powerful social networking group in the world
I first heard of tiger 21 during a conversation with miami chapter chair charlie garcia about the future of social networking and influence. This was no ordinary group, with an average net worth of $75 million the 220 strong membership has the purchasing power of a small country.
So when I attended my first tiger 21 meeting in miami (there are 12 locations around north america), I was expecting a group of gordon geckos but instead met a bunch of good natured, fun, regular people - a mix you’d find in any social situation. And from what I observed, their unofficial motto seems to be: "don't confuse wealth with success. An inherited fortune is one; elon musk is the other." one thing was different however, each had the stoic look of money, not the I’m better than you look, but the comfortable look of a wealth steward.
When I arrived (late due to yet another airline delay), I was met with an enigmatic appraisal - as if each was deciding whether I belonged or not. I assure you on paper, I didn’t - but relished my role as an observer.
Discussions about money occur naturally in this group - it’s like you and I discussing the weather. There’s no violation of social norms here. Each member is open with their wealth strategies and most appear ready to challenge the other member when they disagreed. As I continued to listen in on the meeting, I could literally feel myself gaining financial IQ points the way a winning lottery ticket would quickly draw distant relatives.
60% of the members are former entrepreneurs that had a large liquidity event, while the rest are a mix of business executives, investment bankers and real estate moguls. Each joined tiger 21 for different reasons, but according to founder michael sonnenfeldt most join because there’s no graduate school for wealth preservation, “everyone assumes you’re brilliant because you made a lot of money, but most members know little outside of their domain or expertise. That’s where we come in.”
This isn’t a goldman sachs club
One notable discussion illustrated the group’s philosophy towards wealth preservation and the sheer disdain for what one former investment banker member described as the “den of thieves”. The thieves in his example consist of the investment bankers, stock brokers and other wealth managers. In particular he pointed to goldman sachs as one of the most organized and worst offenders. Calling them a “house of mirrors” and that they “make themselves money first, then their clients.” to hear him speak was like listening to a matt tabibi rant on goldman.
Tiger 21 has two primary goals. The first is wealth preservation the second is how to deal with the resulting family issues. Since members are all facing the same issues, the organization is designed for members to help other members. The philosophy seems to be that it’s best to get advice from people that are in the same situation.
But the advice is not for the faint hearted. One of the cornerstones of tiger 21 is something called ‘portfolio defense’. Portfolio defense is a wealth review process that has evolved over 15+ years where each member has to present and defend their asset portfolio in front of the other members. From conversations with several tiger 21 members, the feedback received can be brutal, but most were grateful for the advice.
According to william ade, a miami tiger 21 member, several people have left tiger 21 weeks and even hours before their portfolio defense. Apparently, some of them didn’t practice what they preach and didn’t want to be exposed in front of their peers, “if you’ve been telling everyone that you’re a great philanthropist and you’re not, you’ll be called out in front of everyone,” ade said.
Ade was quick to point out that for most members, this is the first time they’ve shared their personal balance sheet. And the experience is eye-opening, “A lot of times they don’t understand their risk allocation and where their returns are going to come from. This can be devastating to someone who is ill-prepared for a difficult turn in the economy,” ade told me.
As I mentioned earlier, estate planning is a big part of the program. One of the big questions each member is asked is about the amount of money they are giving to family members. According to ade, that question is asked to ensure that the member isn’t becoming the family’s welfare department.
While philanthropy is encouraged the organization’s ethos seems to be that the most effective form of philanthropy is investing in an entrepreneur. While not officially sanctioned by tiger 21, members can organize pitch sessions for entrepreneurs seeking capital for their companies. According to sonnenfeldt, in just the past few years the organization’s asset allocation has moved from 12 percent private equity and angel investing to 21 percent in the last quarter.
The high net worth social network
The statistical average age of tiger 21 members is 57 years old. So while they still prefer face to face contact over twitter, facebook and other social networks, the group uses a confidential internal social network to communicate. But it’s not used as one would expect, it’s used by members to help each other with a range of things from health to legal issues. Ade told me the advice from the network is: “accurate, profound and free for the asking.“
When I asked tiger 21 member louis david spagnuolo about the network he explained it to me this way: "in the most purest sense, tiger 21 is a fraternity of ultra-successful professionals, who all work in conjunction to advance each other both personally and professionally," he told me, "in relation to both aspects, tiger 21 has been a game changer for me and has helped elevate me to a new frontier of success that I only could have dreamed of prior to joining."
Tiger 21 members are not entirely upper-class by any means; most of them are self-made, re-made, or match-made by luck and fortune. These are the men and women that made it big and want to remain that way. According to sonnenfeldt, nearly 70% of the members are involved in a business or social cause, up over 30% just a few years ago.
So for members, it’s not about trading political favors or making a fortune. They’ve made fortunes. It’s about wealth preservation and the delicate art of family politics. It’s about creating a safe place for members to learn from each other without wondering if the person at the other end is trying to sell them something; it’s about investing in worthwhile causes, it’s about investing in entrepreneurs. These are the people who are beholden to each other – friends with financial benefits – and for them, that’s more than enough.
What's your net worth telling you?
Imagine you just landed in an unfamiliar city and now have to drive a rental car to your hotel. Do you want a car with GPS navigation, or would you rather wing it? Seriously, how hard can it be to find your way around hong kong?
A net worth calculation is like GPS for your retirement savings. It tells you where you are now and which way you need to go to get to your destination.
Key takeaways
- Calculating net worth involves adding up all of your assets and subtracting out your debts.
- There's no hard rule for determining your "right" net worth, but you should know if it's headed in the right direction, toward a comfortable future.
- If it's not, it's time to cut your spending, reduce your debt, or both.
Below, you can determine your current net worth. Then you can find out how you can use this calculation to keep your retirement plans moving in the right direction.
How to calculate your net worth
Net worth is simply the total dollar value of all assets minus all liabilities. It's a benchmark for measuring financial health that is applied to companies as well as individuals. The formula is a simple one:
That's just two columns of numbers, and here's what goes into each column.
Assets
You have both liquid assets and illiquid assets. Liquid assets are investments or possessions that can be turned into cash relatively quickly with little or no loss of value. Bank accounts, certificates of deposit, stocks, bonds, mutual funds, and similar investments fall into this category.
Illiquid assets are investments or possessions that are difficult to convert into cash quickly. If you own your own home, it's an illiquid asset, as are any other real estate holdings, the balance in a retirement savings plan, and partnerships in businesses. They are not easy to convert to cash. Most personal property, such as furniture, vehicles, and clothing, should be left out. They may have cost a lot to acquire but are likely to be worth little in a resale. Investment-quality art or collectibles might be considered assets.
Determining liabilities
The other side of the ledger lists your debts. Credit card balances, car loans, home mortgages, outstanding student debt, and business loans all fall into this category. Any personal loans count, too.
Add up all of your assets, subtract the total of your liabilities, and you've got your current net worth.
Where do you stand?
You may be interested in comparing your net worth with the figures in the chart below of median and mean net worth of all americans by age group, compiled from a survey for the federal reserve. The median is the middle number. Half have less net worth, and half have a greater net worth. The mean number is the average net worth.
Don't place too much importance on your net worth total in comparison with these numbers. This is national data with no demographic breakdown. For instance, living in the northeast versus the south nearly doubles net worth. People in the northeast generally earn more and pay more to keep roughly the same standard of living.
| Age of head of household | median | mean |
| 18-24 | $4,395 | $93,983 |
| 25-29 | $8,972 | $39,566 |
| 30-34 | $29,125 | $95,236 |
| 35-39 | $40,667 | $257,582 |
| 40-44 | $87,843 | $316,661 |
| 45-49 | $105,717 | $599,194 |
| 50-54 | $137,867 | $838,703 |
| 55-59 | $168,044 | $1,150,037 |
| 60-64 | $224,775 | $1,180,378 |
| 65-69 | $209,575 | $1,056,484 |
| 70-74 | $233,614 | $1,062,428 |
| 75-79 | $242,700 | $1,097,415 |
| 80+ | $270,904 | $1,039,818 |
Also, note the big differences in mean and median net worth in each age category. Remember that the mean number is the average number. A relatively few very affluent people can skew the average. That may be why the mean net worth of americans ages 18 to 24 tops $90,000. At least in this age group, the median of $4,395 may more accurately reflect the net worth of young americans.
The ideal number
How much should you be worth? Every person has a unique lifestyle and individual expectations, so there is no one-size-fits-all, universally agreed-upon number. That said, thomas stanley and william danko, authors of the millionaire next door, have offered this formula as a rule of thumb:
Your pretax income multiplied by your age, then divided by 10, equals your net assets.
Using this formula with a basic salary of $25,000, we get the following results:
| age | income | net worth |
| 20 | $25,000 | $50,000 |
| 25 | $25,000 | $62,500 |
| 30 | $25,000 | $75,000 |
| 50 | $25,000 | $125,000 |
| 60 | $25,000 | $150,000 |
The numbers in the middle-age ranges look feasible, but the formula doesn't work for people just starting out in life. Few 20-year-olds have racked up $50,000.
Then again, most professionals, if all goes well, see a steady increase in salary over the years. Below, the same formula is used but higher income levels for upper age ranges are entered. The results are dramatically different:
| age | income | net worth |
| 20 | $25,000 | $50,000 |
| 25 | $35,000 | $87,500 |
| 30 | $50,000 | $150,000 |
| 50 | $55,000 | $275,000 |
| 60 | $75,000 | $450,000 |
The net worth estimates are still unrealistic for very young workers, and they're not great for people approaching their retirement years. Still, the numbers may provide a benchmark for consideration. If you are doing better than the benchmark, you are at least moving in the right direction.
One formula suggests that your net worth at age 70 should be 20 times your annual spending.
Interestingly, under the scenario in which income rises with age, the net worth estimate delivers results similar to those generated by a formula devised by david john marotta, a widely-quoted financial advisory.
Marotta recommends following a savings plan that will result in a net worth that is 20 times annual spending by age 72. under this plan, the older you get, the more you save. Since most people earn more as they grow older, that is not unrealistic.
Vs. Annual spending
Building net worth
Formulas and averages can provide some insight into the issue of net worth, but absolute truths are harder to reach. At the most basic level, a positive net worth is better than a negative net worth, and a higher net worth is better than a lower net worth.
If your net worth is negative, strive to get it to a positive number. You're spending more than you earn. Cutting your spending is the first step toward turning the situation around. Paying off debts is the next.
Even if your net worth is low, you can strive to build your net worth through saving and investing, a little at a time. Focus on maximizing the amount you save and minimizing the amount you spend.
If your net worth is high, keep building on the momentum. You're working towards a real improvement in lifestyle: enough money to live well during your retirement years.
So, let's see, what we have: you know how sometimes you make certain decisions that you immediately regret? Like taking that one last shot at the club, or hooking up with your toxic ex? At mgslots 21 net worth
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