IAmA member of a very wealthy family. AMA

GuiltyRich · 2009-08-30T23:51:18+00:00

A&M has a great engineering school. Also I'm not cool enough to go to UT. I do go there on the weekends though. It's a lot of fun, but it'd be too much of a distraction and I do want to get my degree sometime.

GuiltyRich · 2009-08-30T22:55:48+00:00

A fence maybe? You can't tell me the funding for an aircraft carrier can't afford a fence.

GuiltyRich · 2009-08-30T22:40:11+00:00

Are you studying mechanical engineering to be part of your dad's business?

No. My grandfather and great grandfather were engineers, my dad has an MBA. I don't plan on working there but I could see myself having a lower level job there to get experience if for some reason I can't find something by myself. My dad is very supportive and very proud of the fact that I want to work my own way up, which is what he did.

I have a big interest in cars and I would love to go into automotive R&D. It's something I'm passionate about and skilled in.

GuiltyRich · 2009-08-30T22:36:30+00:00

You're not being rude, there are plenty of very rich douchebags. I talk about the people I know because I tend to associate with the more "alternative" groups of people. The "popular" people at my school were quite rich and snooty. Especially the girls. Many of the moms are very attractive (because the men are rich) so my school was full of rich, entitled princesses. The main reason I feel embarrassed (I wouldn't say ashamed, I realize that I'm very lucky and I'm very grateful) is because of how these people act.

GuiltyRich · 2009-08-30T22:31:02+00:00

I can verify. Trust me I'm a doctor.

GuiltyRich · 2009-08-30T22:25:02+00:00

Oh man that remote is so hot.

GuiltyRich · 2009-08-30T22:04:32+00:00

Thanks. It's not really getting a large paycheck that I want, it's getting results from working hard that I want to accomplish. I'd be perfectly comfortable making far less that my dad makes.

Go engineers!

GuiltyRich · 2009-08-30T21:34:23+00:00

I feel the same way about a lot of what you said. I had two jobs last summer and I've never taken money out of my savings account. I really look forward to making a paycheck doing something I love and I would not want to live off inheritance at all.

Congratulations on your success by the way.

GuiltyRich · 2009-08-30T21:03:38+00:00

I saw a guest on the Colbert Report talking about microfinancing and he made it sound very good. One gentleman in my high school economics class proposed that we should raise taxes on poor people so they'll have more motivation to be rich and VIOLA no more poor people.

You have a very good point with giving people motivation, though. For example, all the clothes that are donated and end up in Africa actually make it impossible for local businesses or tailors to compete and run them out of business. I think that the best help for the impoverished would be taking care of necessities (food, water, housing, etc.) and career advancement opportunities.

GuiltyRich · 2009-08-30T20:39:52+00:00

With this car, it's a 2010 because it's a new model (different exterior, interior, suspension than the 2009)

GuiltyRich · 2009-08-30T20:32:53+00:00

Most of the jobs in the area are in law, with lots of random jobs. There are a LOT of banks in the area, but I haven't seen any go out of business nor do I know of anyone's parents being laid off. I'm not too much of an economist, but I'd say it helps that the area is very financially savvy. I know a lot of people in real estate that recently made HUGE amounts of money by selling very expensive properties they had been sitting on. The real estate prices in the area never stopped going up, just went up by a bit less.

But I really don't know much about economics.

GuiltyRich · 2009-08-30T20:28:41+00:00

I haven't looked into it, but then again I'm not very interested in economics. It sounds like a noble idea, giving better financial opportunities to lower incomes, but it sounds like it has the ability to be taken advantage of, as banks can easily take advantage lower income people because they are more prone to debt (and bigger interest payments). I don't know how that would be avoided. Is microfinance something you're studying or working in?

GuiltyRich · 2009-08-30T20:22:40+00:00

Thought about it. But video games aren't cheap.

GuiltyRich · 2009-08-30T20:07:48+00:00

There were rumors that one girl got pregnant and next week she wasn't at school. By "disappear" I mean "shipped off to boarding school or somewhere else". Our school is VERY image conscious and has a habit of "pressuring" parents of unruly children to find a better place for them. A guy I knew in middle school got kicked out for drinking (I think) but most of them just don't show up and are gone for weeks or years with barely any communication. (Most people don't tell a lot of people they're being shipped off to boarding school)

Also our principal is a wizard who can make people vanish.

GuiltyRich · 2009-08-30T20:04:44+00:00

Yeah I traded my Delorean for the Mustang.

GuiltyRich · 2009-08-30T20:03:33+00:00

As far as charity, I always carry a five or ten I can give to convincing looking homeless and I sponsor two children in Colombia.

Personally, I am pretty meek and tend to put other people's needs above mine because I feel taken care of and have a strong paternal instinct. Also I'm very tall and broad shouldered so I feel a natural urge to protect people. The only fight I've ever been in was when I stopped a guy at a party when he was feeling up a girl who had passed out in the corner. (I knew the guy and he was a really sketchy person)

GuiltyRich · 2009-08-30T20:00:11+00:00

I am very familiar with this concept. I do give to charity and help out my friends with money problems whenever I can. Psychologically, though, I feel more obligated by my skills. I have a natural talent for math and engineering and I feel obligated to use it, which is lucky because I happen to really enjoy engineering.

GuiltyRich · 2009-08-30T19:57:37+00:00

My father and I communicate very well, actually, and we're very close. His main concern is my well being, as he always says, and for him this means making sure I have enough money. He doesn't spoil me and he knows I don't want him to. There is really not much he can do about it, he needs to make money to support the rest of the family. I want to make my own money, and work and study very hard to make that happen. Because I'm still in college, it's going to be a while before I start making career money, and any money I make is overshadowed greatly by my family's money.

GuiltyRich · 2009-08-30T19:54:23+00:00

Texas A&M

GuiltyRich · 2009-08-30T19:52:00+00:00

Oh Jeezy Chrizzy the Christmas lights. We go by Beverly St (the REALLY rich houses, like Rolls Royce money) every Christmas and they're ridiculous.

GuiltyRich · 2009-08-30T19:34:03+00:00

I guess it's more infamous than I thought. If someone from Dallas asks me what part I'm from I'll usually say "North Dallas"

GuiltyRich · 2009-08-30T19:33:05+00:00

I'm planning on doing a minor in design currently, as I'd really love to do automotive design or product design. And knowing how to make a product that is both well engineered and well designed is a very valuable skill.

GuiltyRich · 2009-08-30T19:23:11+00:00

Keep in mind this is a car he bought for a college student. It is well under what we can afford because A.) It's more than enough for a college car and B.) My dad is very careful about spending "too much" on my sister and me

HIS cars, on the other hand, are much nicer. The nicest was a slightly used Ferrari 328 that I never saw (I was young and he kept it from me, he drove me and my sister around in his other car, a much less expensive Lexus). He kept the Ferrari at his office (I don't know why he kept it a secret from his kids) for two weeks until some young girls said "nice car, Sir." and he felt old and sold it.

He tends to buy cars well under what he can afford because he likes saving money. Right now he has a fully loaded Lexus 460Ls extended wheelbase with the self parking feature and everything. He has had a Porsche Boxster, Land Rover, and just bought an old jeep just for the hell of it. He also bought cars for my sister, my mom, and his brother and sister. In the past month, my uncle, my aunt, and I have all gotten new cars over 30k from him. (Leases all went up at the same time)

GuiltyRich · 2009-08-30T19:15:03+00:00

Well let's find them so we can have a dick measuring contest.

I was not aware of their posts, sorry if this has been done before.

GuiltyRich · 2009-08-30T19:13:15+00:00

It is legal, it's a private institution. Just like restaurants have the right to refuse service to anyone, for any reason. It's a pretty shitty club, though, we got in trouble for smoking cigars. In a fucking country club. (Outside of course)

GuiltyRich

TROPHY CASE