PebHmong Discussion Forum
General Category => General Discussion => Topic started by: hmgROCK on October 17, 2018, 12:52:18 PM
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we have a hmong sister (cousin) who been selling stuff like makeup, jewerly, clothes and etc... on facebook, ebay etc..
sometimes at family gathering, she would bring them and try to sell it
she always call it her "business"
how she was making all these money and stuff
try to even recruit some of us, so she can like "level up" and stuff
everytime, we ask her how much was making
she would shy away, saying stuff like alot
don't even give out a actual number
so
i finally ask her husband, and he say their garage is full of inventory
spent like $10k buying all those stuff
and can't even sell them back to make the profit back
having a hard time
she keep buying all those stuff with their money
and he is really piss off
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Should have taken the make-up to the flea market. Make a profit or try to break even. Never take the L :P
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Should of told her you a finance guy and to trade you for some 401k portfolio. Shark tank that inventory for a 10% stake in the dying company
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Should of told her you a finance guy and to trade you for some 401k portfolio. Shark tank that inventory for a 10% stake in the dying company
dude has a point, hmgrock.
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Then you have those that are successful raking in 200-500k per year.
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Should of told her you a finance guy and to trade you for some 401k portfolio. Shark tank that inventory for a 10% stake in the dying company
401k is only for work only aka factory, fastfood, teacher,etc... (maybe you can self employ solo 401k, than you going need to claim that on your tax and register and all that jazz depending on your state rules and laws)
what this sister has
in finance we call it "unrealized gain/loss"
in this sister case, she is just recognizing unrealized gain
that $10k of inventory when all sold
she think she will have an unrealized gain $4k assuming she could sell that $10k inventory for $14k
that sad thing is...
you can also have unrealized loss
she might not be able to sell, makeup might expire and get toss out
so that $10k might only be worth $6k when everything is sold and all the expire date are toss out
with an unrealized loss of $4k
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Should of told her you a finance guy ....
;D ;D ;D
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we have a hmong sister (cousin) who been selling stuff like makeup, jewerly, clothes and etc... on facebook, ebay etc..
sometimes at family gathering, she would bring them and try to sell it
she always call it her "business"
how she was making all these money and stuff
try to even recruit some of us, so she can like "level up" and stuff
everytime, we ask her how much was making
she would shy away, saying stuff like alot
don't even give out a actual number
so
i finally ask her husband, and he say their garage is full of inventory
spent like $10k buying all those stuff
and can't even sell them back to make the profit back
having a hard time
she keep buying all those stuff with their money
and he is really piss off
If she's legit and does her business legally, I still have more respect for her than frauds that have no shame stealing from the poor's resources i.e., " food stamps"..