|
canyoneer posted:
I don't think that's particularly bad. Sure, a few bumps in the road have made poo poo a bit sour, but she's generally pretty smart and eyes open about the whole thing. They don't want to sell due to capital gains (on a positive cash flow condo to boot) because all it would take is living there another year to not have to pay them... which is pretty good with money. The top comment is kind of absurd. Pull the plug on the whole thing because you have 5k of credit card debt. Some people are allergic to debt to an absolute fault.
|
#
?
Sep 5, 2014 15:14
|
|
CAPITAL GAINS TAXES
|
|
| # ? May 14, 2024 17:00 |
|
|
Nope buying two pieces of property in your early to mid 20s when you still have well over 100k in student loan debt is bad with money.
|
|
#
?
Sep 5, 2014 15:40
|
|
|
Alright, if you say so.
|
|
#
?
Sep 5, 2014 15:45
|
|
|
The morning news reminded me of this one: I was in a sports bar in Nashville, TN when I overheard a guy tell his wife/girlfriend "They just upgraded me from the gold to the black card. We ain't white trash no mo!"
|
|
#
?
Sep 5, 2014 15:46
|
|
|
Nail Rat posted:Nope buying two pieces of property in your early to mid 20s when you still have well over 100k in student loan debt is bad with money. I resembled this remark until the 100k student loan debt part.
|
|
#
?
Sep 5, 2014 16:24
|
|
|
I lived in the Bay Area for ten years. There are countless places that aren't The City but are quite wonderful and with easy BART access and even views of the Bay that are relatively reasonable for rent. Oakland alone has numerous hip neighbourhoods. And if you don't want kids, your options are even better if you're willing to give up the idea that you're entitled to own your very own large appliances that nobody else gets to use ever ever.
|
|
#
?
Sep 5, 2014 17:17
|
|
|
The tech hordes descended on Oakland three years ago, it's now BARELY cheaper than SF.
|
|
#
?
Sep 5, 2014 19:00
|
|
|
Old Fart posted:And if you don't want kids, your options are even better if you're willing to give up the idea that you're entitled to own your very own large appliances that nobody else gets to use ever ever. Do you mean...have roommates? Or?
|
|
#
?
Sep 5, 2014 19:00
|
|
|
MAKE NO BABBYS posted:The tech hordes descended on Oakland three years ago, it's now BARELY cheaper than SF. Every person (grand total of 4) that has been to Oakland has been burgled or mugged. At least the techies are constantly getting robbed? That's bad with money, right?
|
|
#
?
Sep 5, 2014 20:57
|
|
|
I've got a doozy that just happened at work. My coworker is selling his 3 series (that he still has 18k owed on) so he can, get ready for it, lease a 60k Lexus. Don't worry though, his monthly payment is only 10 bucks more and he's going to buy it eventually on his 65kish salary. gently caress. That.
|
|
#
?
Sep 5, 2014 21:04
|
|
|
Gorman Thomas posted:I've got a doozy that just happened at work. My coworker is selling his 3 series (that he still has 18k owed on) so he can, get ready for it, lease a 60k Lexus.
|
|
#
?
Sep 5, 2014 21:20
|
|
|
cowofwar posted:Jesus. New 60k cars are for people with a paid off house and a lot of disposable income. Like gambling and drug addictions. That's twelve acceptable transportation devices.
|
|
#
?
Sep 5, 2014 21:31
|
|
|
icehewk posted:That's twelve acceptable transportation devices. More than that, he said lease.
|
|
#
?
Sep 5, 2014 21:47
|
|
|
icehewk posted:That's twelve acceptable transportation devices. Yeah but think about the SAVINGS on insurance, taxes, plates/registration, inspection, and title transfer of one Lexus vs. 12 cars. Gotta spend more to save more.
|
|
#
?
Sep 5, 2014 22:13
|
|
|
Not a Children posted:Every person (grand total of 4) that has been to Oakland has been burgled or mugged. At least the techies are constantly getting robbed? That's bad with money, right? I lived in West Oakland for ten years and deep East Oakland for 2 and have never been robbed. Sounds more like "lovely with life" to me.
|
|
#
?
Sep 5, 2014 23:17
|
|
|
Rick Rickshaw posted:Do you mean...have roommates? Or? Sure, or live in a group house. If you want your living dollar to go farther and want more money for travel and savings, then there are some great places to live. All these old 3-story houses and flats with far more actual living area than you can afford on your own. I lived in a place in Temescal that had an entire mother-in-law unit in the back that nobody else in the house wanted to use. Turned it into a lounge/mancave/gameroom, had a blast. My bedroom in the main house was kinda lovely, but I mostly just used it for sleeping because I had such flexibility to be able to go out and travel, and most of my at-home leisure time was spent in the yard or out in the party shack. Didn't have to worry about leaving pets home alone, either. I paid $550, all utilities (and internet) included. You gotta be patient and find the right fit, but I've seen plenty of really great places, if you're willing to be flexible with your perspective on things like how many people need to own dishwashers by themselves, or if you really need exclusive access to a bathroom 24/7. There were eight of us in that house and we were very rarely in each others' way because collectively we could get more than anybody could by themselves. Edit: bad with money is me, because despite living in this awesome place, I still managed to get fired from flexible good-paying dream jobs TWICE and eventually couldn't pay rent. Old Fart fucked around with this message at 23:40 on Sep 5, 2014 |
|
#
?
Sep 5, 2014 23:37
|
|
|
Old Fart posted:Sure, or live in a group house. If you want your living dollar to go farther and want more money for travel and savings, then there are some great places to live. All these old 3-story houses and flats with far more actual living area than you can afford on your own. I lived in a place in Temescal that had an entire mother-in-law unit in the back that nobody else in the house wanted to use. Turned it into a lounge/mancave/gameroom, had a blast. My bedroom in the main house was kinda lovely, but I mostly just used it for sleeping because I had such flexibility to be able to go out and travel, and most of my at-home leisure time was spent in the yard or out in the party shack. Didn't have to worry about leaving pets home alone, either. I paid $550, all utilities (and internet) included. Was this in the 80s?
|
|
#
?
Sep 6, 2014 01:26
|
|
|
I live in a beautiful victorian two bedroom flat (in a house of two units) with a laundry room, a dishwasher, and a beautiful garden maintained by my upstairs neighbors. In Berkeley. On the major buslines. 20 min walk to BART, 2 min from the freeway. I work 3 cities over and it takes me 15 minutes to get to work. I have one roommate and I pay $900 because I have a beautiful 20x14 room with pocket doors and crown molding and hers is significant smaller and has carpet/lower ceilings. My friends consider this expensive for shared accommodations, but nothing was for rent in Temescal where I was looking to pay 500-800 for a similar set up when I moved. Make the bay area work for YOU, guys. Edit: (a house of similar size and lower quality is renting down the street for $3.5k per month for the privilege of living alone, mileage may vary)
|
|
#
?
Sep 6, 2014 01:39
|
|
|
canyoneer posted:Haha. The comments come through. When I read things like this I can't help but think that the writer is lying to themselves about how much they make from their condo or would make selling their house. OP says they come out $250 "ahead" on their condo, but whenever someone says that I think bullshit, they're probably not really accounting for their expenses appropriately. People crack me up when they put up all sorts of road blocks in front of doing sensible things (selling one or both of the properties you can't afford) like "but capital gains taxes!" or "but our equity  " and then twist themselves into pretzels defending patently asinine things like taking out a 401k loan to pay off a credit card in that situation. If that OP is being honest about what their condo is actually worth they could sell it and potentially make almost $40k or more even accounting for capital gains tax, then they could pay off their credit card, pay for all their child bearing expenses and have cash left over to cover some early child care costs or finish fixing up the house. But nooooo it's their retirement plan and it makes them money!
|
|
#
?
Sep 6, 2014 01:50
|
|
|
To be fair, they made all the "right" decisions, in terms of the long run. They got lucky with property appreciation and stand to see a whopper of a profit if they can pull the house sale off. They definitely leveraged themselves way too much, though. If their house had in fact depreciated, they'd probably be in full blown crisis mode right now. Not that $200k+ debt is anything to keep calm about about... Definitely agreeing that they've got an overly rosy view of things. Probably how they got into this situation in the first place.
|
|
#
?
Sep 6, 2014 02:05
|
|
|
Not a Children posted:To be fair, they made all the "right" decisions, in terms of the long run. They got lucky with property appreciation and stand to see a whopper of a profit if they can pull the house sale off. They definitely leveraged themselves way too much, though. If their house had in fact depreciated, they'd probably be in full blown crisis mode right now. Not that $200k+ debt is anything to keep calm about about... Yeah, that's a big if. We'll make a profit of $70k by painting the ceilings and installing granite countertops! The way that actual flippers make money is very different from being a hobbyist taking 2 years to remodel a house.
|
|
#
?
Sep 6, 2014 02:15
|
|
|
It's a situation where the long term is not a good idea in the short term. They only need one property to live in and having a pile of debt isn't going to help their cashflow. That and they might realise no actual capital gain when it sells for the same price they bought it.
|
|
#
?
Sep 6, 2014 02:46
|
|
|
rrrrrrrrrrrt posted:When I read things like this I can't help but think that the writer is lying to themselves about how much they make from their condo or would make selling their house. OP says they come out $250 "ahead" on their condo, but whenever someone says that I think bullshit, they're probably not really accounting for their expenses appropriately. I can't tell if they're truly delusional, or just trying to convince themselves that they aren't completely screwed.
|
|
#
?
Sep 6, 2014 03:27
|
|
|
So I checked my checking account and when I expected to see around 2500 I saw around 760,000! I know it was a mistake. But I transferred 20,000 to an external account that isnt the same institution. If they fix the error but don't do anything about the 20,000, am I ok? Edit location? Usa...
|
|
#
?
Sep 6, 2014 06:51
|
|
|
pathetic little tramp posted:So I checked my checking account and when I expected to see around 2500 I saw around 760,000! I know it was a mistake. But I transferred 20,000 to an external account that isnt the same institution. If they fix the error but don't do anything about the 20,000, am I ok? Take the money and run, kid
|
|
#
?
Sep 6, 2014 06:55
|
|
|
pathetic little tramp posted:So I checked my checking account and when I expected to see around 2500 I saw around 760,000! I know it was a mistake. But I transferred 20,000 to an external account that isnt the same institution. If they fix the error but don't do anything about the 20,000, am I ok? You figure they'll just shrug their shoulders at a missing $20,000? No. They'll call the cops on you if you refuse to give it back, too.
|
|
#
?
Sep 6, 2014 06:56
|
|
|
Should transfer all 760000 to a foreign bank and thenpathetic little tramp posted:Edit location? Unknown.... Magic Underwear posted:You figure they'll just shrug their shoulders at a missing $20,000? No. They'll call the cops on you if you refuse to give it back, too. When would you stop looking for your 20,000 dollars? edit: Maybe it isn't really missing. Like what if it never existed to begin with? VideoTapir fucked around with this message at 07:07 on Sep 6, 2014 |
|
#
?
Sep 6, 2014 07:00
|
|
|
But I didnt steal it I dont think, I just put it somewhere else. I haven't spent it and wont for like a year just in case
|
|
#
?
Sep 6, 2014 07:06
|
|
|
It's amazing how loving up a single digit of an account number can send your transfer to an entirely different person. I'd think whoever's expecting that money will complain and then a record of the transfer from the sender to you will be found.
|
|
#
?
Sep 6, 2014 07:15
|
|
|
pathetic little tramp posted:But I didnt steal it I dont think, I just put it somewhere else. I haven't spent it and wont for like a year just in case
|
|
#
?
Sep 6, 2014 07:17
|
|
|
You in a few days: https://www.youtube.com/watch?v=QCj0meJ1Uiw
|
|
#
?
Sep 6, 2014 07:50
|
|
|
pathetic little tramp posted:So I checked my checking account and when I expected to see around 2500 I saw around 760,000! I know it was a mistake. But I transferred 20,000 to an external account that isnt the same institution. If they fix the error but don't do anything about the 20,000, am I ok? Haha, good one! Where'd that come from, Yahoo Answers? pathetic little tramp posted:But I didnt steal it I dont think, I just put it somewhere else. I haven't spent it and wont for like a year just in case Oh wait, you're being serious  . Seriously, transfer it back ASAP. If you already had $20k in that account, congratulations you just transferred your own $20k to a different account. If you didn't, then when they reverse the deposit (and don't think they won't) your account will get overdrafted to a degree that will effectively cause you to get banned from banking for life if it's not fixed (and your bank may still cancel your account even after it's fixed).
|
|
#
?
Sep 6, 2014 08:06
|
|
|
If serious (which I doubt a lot considering the thread title), the bank has a record of everything you do with it, so there's no running. Serious: I, and I'm sure a lot of other people have too, transferred money to the wrong account due to a typing error. When I asked the bank to fix this they said they could kindly ask the person to transfer it back, but not much more because it was a direct deposit. They ignored that request and I lost a few hundred bucks. This was in Australia and about 10 years ago though. $760,000 sounds like a business transfer though, and they will gently caress you over every which way they can if that's the case. Rudager fucked around with this message at 09:40 on Sep 6, 2014 |
|
#
?
Sep 6, 2014 08:40
|
|
|
This is lucky for us: we get a serialised drama about a person bad with money 
|
|
#
?
Sep 6, 2014 09:00
|
|
|
There's literally no way to win. Your state probably has a statute of limitations about banking errors. The statute also likely is asymmetric in that you will have around 60 days to correct errors from when your statement was mailed, while the bank has years to fix their errors. The exact number varies from state to state. You could sit on the money for years, saying nothing, and hoping that it goes unnoticed. Once you exceed the statute of limitations in your state, you could move it to another institution, and then your bank can't touch it. But they can still gently caress you for life on checksys and you'll have no where to keep that three quarters of a million afterwards.
|
|
#
?
Sep 6, 2014 12:55
|
|
|
pathetic little tramp posted:So I checked my checking account and when I expected to see around 2500 I saw around 760,000! I know it was a mistake. But I transferred 20,000 to an external account that isnt the same institution. If they fix the error but don't do anything about the 20,000, am I ok? Is taking the money and living out your life in some third world village a course of action you're willing to take, and/or are you able to place it into a Cayman islands account? If yes, enjoy your new life! If no, fix the banking error.
|
|
#
?
Sep 6, 2014 13:06
|
|
|
An unscrupulous person might flee the country. Not suggesting you actually do this (don't) but hypothetically what recourse would thr bank have?
|
|
#
?
Sep 6, 2014 13:07
|
|
|
Cast_No_Shadow posted:An unscrupulous person might flee the country. Not suggesting you actually do this (don't) but hypothetically what recourse would thr bank have? They'd come after you for theft, wire fraud, probably money laundering. For that kind of money, the FBI and Interpol would get involved. You'd be an international fugitive, which would severely limit the number of countries were you could live out your days. Return the money.
|
|
#
?
Sep 6, 2014 13:17
|
|
|
To be serious, if the bank isn't forthcoming about what happened, you might want to talk to a lawyer about what exactly is happening and what needs to happen next. You definitely need to transfer the money back into your account though.
|
|
#
?
Sep 6, 2014 13:21
|
|
|
|
| # ? May 14, 2024 17:00 |
|
|
Mr.Radar posted:Haha, good one! Where'd that come from, Yahoo Answers? Sorry, no, just another episode of Reddit Masterpiece Theatre: http://www.reddit.com/r/legaladvice/comments/2fljr7/glitch_in_my_checking_account
|
|
#
?
Sep 6, 2014 13:30
|
|