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Taco Box posted:A 4 cyl 650cc sportbike is really not a good first ride. I started on a cbr250r and had a blast. I went up to a Ninja 650 and the first pull on the throttle felt like the world went plaid. I could out-accelerate $200K supercars (911 GT3, to 100mph) on that thing and it was a 2 cylinder. Seriously, that's a fast loving bike. You're not wrong, but I don't think he/she explicitly stated he/she was a new rider, right? That would indeed be a terrible first motorcycle, because a new rider is almost guaranteed to drop their motorcycle (I never did, because I was always smart about riding within my abilities  ). It's better to drop a used 250 (that got dropped by the previous owner) than a new fancy sport bike.edit: Actually, to add to the concept of truck equity, I bet motorcycle arbitrage is a thing. When gas was $4+ per gallon, my local cycle dealership had a waiting list 3 months long for new 250cc little gas sippers that got 60+ miles to the gallon. Motorcycle demand and pricing seems to fluctuate a lot around gas prices, same as how when gas hit $4+ per gallon dealerships and private sales were dumping SUVs at firesale prices. So good with money is to buy motorcycles when gas is cheap, and sell them when gas is expensive. 
canyoneer fucked around with this message at 23:54 on Jan 21, 2015 |
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Jan 21, 2015 23:50
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New biek is bad with money. I mean if you can afford it, go nuts, but it's a luxury and you will take a tremendous depreciation hit that just doesn't exist with used bikes. Plus, if you own a bike, you have a place to wrench on it yourself so repairs and such should not be an issue. My friend picked up a three year old CBR for $1500 with a damaged fairing. Meanwhile, in New Biek Land, you're paying $8k plus for same poo poo.
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Jan 22, 2015 00:03
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Well, that certainly drew out some opinions. I'll admit, the fiscally responsible side of me was very hesitant. I did include the increased cost of being fully insured, which is an extra 250 a year over basic insurance. To answer the "not a begginer bike", my current bike is a an 04 GS500F I bought used in 08. I've been riding for 6 years and have my full license. I've demo ridden all the bikes in that size/power class, and higher (CBR1000RA are a blast!). I'm not really worried about depreciation as I plan to own this for a long time. If/when I do drop this bike, It will be a lovely day for me. Golluk fucked around with this message at 00:33 on Jan 22, 2015 |
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Jan 22, 2015 00:25
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I bought new for my first bike, it was dumb but not as expensive as a new Honda. I've dropped it and generally not treated it very nice and regret that but not the time spent riding. I picked up a non-running, ninja 250 on craigslist for almost nothing and had way more fun with that after spending a week restoring a few bits.
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Jan 22, 2015 01:00
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 In the comments he got invited to a weekly dinner at his coworker's house.
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Jan 22, 2015 01:10
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My coworker bought a used Ducati for about 8500-9000$ and dropped it within the first week, and broke a stupid piece of plastic that cost over $300 to replace. This was his first bike and he's never ridden before. It's a nice bike but we live in MA so there are years when you can only ride it for 6mo of the year, no place to go fast, tons of traffic, etc. He's of course perpetually broke and bitches about child support payments. Edit: this isn't the coworker leasing a base model Passat for ~550/mo + insurance. xie fucked around with this message at 02:06 on Jan 22, 2015 |
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Jan 22, 2015 02:04
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Golluk posted:
Sorry if I missed this, not your first ever bike, right?
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Jan 22, 2015 04:02
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This is terrible with money:quote:Hedge Fund Manager Loses 99.8% In 9 Months, Tells Investors He Is "Sorry" For "Overzealousness" http://www.zerohedge.com/news/2015-01-21/hedge-fund-manager-loses-998-9-months-tells-investors-he-sorry-overzealousness Now, I know nothing about hedge funds, but I bet I could throw darts at a board and not lose 99 million dollars in 9 months. In fact, I could outright steal half of it and they'd still be better off.
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Jan 22, 2015 04:19
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CitizenKain posted:This is terrible with money: I, uh. wow. That's truly impressive.
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Jan 22, 2015 04:30
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CitizenKain posted:This is terrible with money: Think of all the hitmen his former clients could hire with that kind of money.
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Jan 22, 2015 04:47
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CitizenKain posted:This is terrible with money: Does anyone remember the Baptist Fund collapse? I can't find any details on Google. It may have had another "official" name, but I recall it always being called the Baptist Fund.
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Jan 22, 2015 05:13
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CitizenKain posted:This is terrible with money: Terrible with money, great with tax evasion and / or money laundering.
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Jan 22, 2015 05:45
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Centripetal Horse posted:Does anyone remember the Baptist Fund collapse? I can't find any details on Google. It may have had another "official" name, but I recall it always being called the Baptist Fund. I think you're remembering the Baptist Foundation of Arizona. Cassius Belli fucked around with this message at 06:48 on Jan 22, 2015 |
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Jan 22, 2015 06:46
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CitizenKain posted:This is terrible with money: You probably could do better. In fact, if you draw a bunch of stocks out of a hat, you could do at least as well as 99% of professional fund managers. http://www.telegraph.co.uk/finance/personalfinance/investing/funds/10904050/Just-one-fund-manager-in-100-beats-the-market.html
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Jan 22, 2015 06:52
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I'm hard pressed to believe that only 1% of managers are engaging in insider trading.
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Jan 22, 2015 06:58
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Yond Cassius posted:I think you're remembering the Baptist Foundation of Arizona. That's the one. Thanks.
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Jan 22, 2015 10:19
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Aren't there funds that only invest in alcohol, tobacco, guns, porn, coal power and child labor and just keep making money?
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Jan 22, 2015 12:52
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You're thinking of the Vice Fund, which has a different name now, but still trades under VICEX
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Jan 22, 2015 16:29
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One of my jobs offers a 4% matching 401k to its part timers after so many hours worked. My coworkers do not understand the merits of free money. $15 a paycheck is just too much money that can't be spent today. Even for the ones that live at home and have no bills. Even if they were to just take the money and eat the penalty they would still come out ahead.
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Jan 22, 2015 17:06
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Do they make $375 a week? That's what the math works out to for $15 being 4%. If they make that little money I can sort of understand $15 per week ($60/mo) being tight, even if it's free money. Not for the people with no bills, but low income earners are often in situations where $50 a month is a big deal.
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Jan 22, 2015 17:24
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xie posted:My coworker bought a used Ducati for about 8500-9000$ and dropped it within the first week, and broke a stupid piece of plastic that cost over $300 to replace. This was his first bike and he's never ridden before. If that's all that happened to him then he's lucky as hell. A guy I used to work with bought a GSX-R for his first bike. Three days later on Facebook he's posting from the hospital as he's gotten into an accident riding it and broken his leg. My dad's ridden motorcycles for 50+ years (he's old) and used to race motocross: he's said repeatedly that he wouldn't touch a sport bike, even in his prime, with a 100' pole.
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Jan 22, 2015 18:30
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I once had a client call in trying to get out of their motorcycle lease. They had ignored their friends' advice to get a 250cc beginner bike, and instead walked out of the dealership with a 1750cc Triumph. When they went to a training class, the instructor refused to teach them, saying "You are going to kill yourself." It was up to the dealer to accept the return at that point. Don't know what happened after that, but he was paying $350 for the lease and around $200 for insurance so he could house a bike he was afraid to ride in his garage as a monument to his hubris and stupidity.
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Jan 22, 2015 19:16
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olylifter posted:My dad's ridden motorcycles for 50+ years (he's old) and used to race motocross: he's said repeatedly that he wouldn't touch a sport bike, even in his prime, with a 100' pole. Your dad rode through eras with some super scary and dangerous sport bikes, his precaution is well-grounded. Regardless, they're no fun to ride on the street in a conservative & sustainable fashion - say  to your powerband, you won't ever have a means to use it.
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Jan 22, 2015 20:54
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FormatAmerica posted:Your dad rode through eras with some super scary and dangerous sport bikes, his precaution is well-grounded. This is how I felt about my Supra turbo (pop-up headlights model, but still). I had 400 horsepower to play with, and it was real fun to get to 70 mph in a hurry, but after that it was time to settle down and merge with traffic. Shifting 1-2-5 all day was no fun.
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Jan 22, 2015 20:58
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FormatAmerica posted:Regardless, they're no fun to ride on the street in a conservative & sustainable fashion - say That's why the sportbike-lite class of the Ninja 650, ER6, CBR650, SV650, etc. is a great middle ground for general purpose riding. Still light, responsive, and maneuverable with a motor and transmission that create a fun-but-practical powerband. And a bit less aggressive riding position that's more comfortable and more practical when you're not at the race track. I think any of the 650-class bikes are all good starting bikes for someone who isn't a total squid gixxah bro. They're all pretty forgiving and much less highstrung than pure sportbikes, but still a ton of fun. Regardless, new motorcycles depreciate faster than high end luxury cars (i.e., very fast) so IMO if you can't comfortably pay cash for it then you should buy used. Also, yeah, buying a brand new bike for a first bike is generally not a good idea. I bought my Ninja 650 in like-new condition with 1500 miles on it for less than half of the ~8k MSRP (which the original schmuck paid, it came with all the receipts and records). It's been great.
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Jan 22, 2015 21:51
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Eh, could be worse. I could have been saying "I paid 10k cash for a brand new motorcycle instead of putting it in my RSP to get 4.5k of match from my employer". I know better than to count on it, but my manager also said we'll be discussing bumping up my pay in the next few weeks, uninitiated by me. I'm more worried I'll be working too much overtime to enjoy it, rather than not getting enough to afford it easily. Just to repeat as well, this is not my first bike. It is also more of a sport tourer than a sport bike. Golluk fucked around with this message at 02:40 on Jan 23, 2015 |
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Jan 23, 2015 02:33
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turevidar posted:If something drastic happens and I have to ditch my car, I don't want it becoming a double-whammy, knocking a hole in my savings or emergency fund at the same time. So pad the emergency fund with the money you'd otherwise spend? If you spent all your money on the car and had to ditch it, you're describing losing everything you put in the car. How is that different than losing the cash outside of liquidity you've given up for nothing?
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Jan 23, 2015 02:46
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I'm confused. You're advocating being under-water on car loans? To what end?
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Jan 23, 2015 03:44
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Another guy who I know, mid 20s, who owes a friend $AUD3000 for a trip they took, just bought a $AUD5000 go-kart. Then he went to a shop to get some component, saw they had a better one for $AUD6000 and so a week after buying the first one, upgraded it. He's working full time as a graphic designer, still lives at home, but put about half the go kart on a credit card, which already had some money in the hole from when he bought a Black Magic camera. He also is planning on buying one of those Apple Retina 5k iMacs (already has an iMac). Still hasn't paid his friend back.
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Jan 23, 2015 04:16
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evobatman posted:This is why it's good with money to learn to replace a $40-80 harddrive and reinstall Windows and drivers. Likewise, if you want a badass desktop system, learning to build your own is good with money. Especially considering that many not-so-low-end systems (especially in brick-and-mortar stores) come with lots of RAM but lackluster graphics cards.
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Jan 23, 2015 04:21
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Guinness posted:Regardless, new motorcycles depreciate faster than high end luxury cars (i.e., very fast) so IMO if you can't comfortably pay cash for it then you should buy used. Also, yeah, buying a brand new bike for a first bike is generally not a good idea. I bought my Ninja 650 in like-new condition with 1500 miles on it for less than half of the ~8k MSRP (which the original schmuck paid, it came with all the receipts and records). It's been great. You can't be all  about your money all the time.
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Jan 23, 2015 07:09
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Cockmaster posted:Likewise, if you want a badass desktop system, learning to build your own is good with money. Especially considering that many not-so-low-end systems (especially in brick-and-mortar stores) come with lots of RAM but lackluster graphics cards. Seconded. Picked up an HP a few years ago for $400 -- the 16 GB of RAM inside was pretty much the only reason. One power supply and graphics card later, and I had a $600 viable gaming rig.
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Jan 23, 2015 14:00
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Shut up about motorcycles. This may or may not be bad with money, but it's certainly weird: quote:OK, so this is a really bizarre one for this forum. Basically, it started with finding a way to manufacture spending for those 'get X miles/points if you spend Y dollars in first Z months' new card offers. What I did was buy prepaid debit gift cards and then draw money orders off and cash those. So, I was just going to deposit that cash in lockstep with the card balances coming due, but at the time I was also trying to close on a rental property with a big bank. http://www.reddit.com/r/personalfinance/comments/2tdxsn/stupidly_ended_up_with_27k_in_hundreds_in_my_room/
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Jan 23, 2015 15:13
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HelloIAmYourHeart posted:Shut up about motorcycles. He has a rental property with tenants, was trying to buy another rental property, had a day job that relied on getting the new rental property, but also pays rent to a dead-beat landlord. 
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Jan 23, 2015 15:25
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As long as he's reporting that income on his taxes, who gives a poo poo? Deposit it into your bank account, don't make a mountain out of a moleholl. Jesus.
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Jan 23, 2015 15:30
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He is at the very least violating TOS for the cards I would guess. And I'm pretty sure you have to do some better record keeping than he is for the rent payments. And I highly doubt he would report the poker winnings anyway.
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Jan 23, 2015 16:00
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Hocus Pocus posted:Another guy who I know, mid 20s, who owes a friend $AUD3000 for a trip they took, just bought a $AUD5000 go-kart. What a dick. If I were the friend owed money I'd "repo" the drat go kart until he paid me back.
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Jan 23, 2015 16:22
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that guy is almost definitely just lying in a bunch of weird ways about how he got the money. drugs, stolen merchandise, credit card fraud, something. otherwise you just deposit it and don't worry about it.
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Jan 23, 2015 16:52
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xie posted:that guy is almost definitely just lying in a bunch of weird ways about how he got the money. drugs, stolen merchandise, credit card fraud, something. otherwise you just deposit it and don't worry about it. Seriously, the thing reads like it was written by a guy on meth trying to come up with a plausible story
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Jan 23, 2015 17:04
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Why are people so loving afraid of SAR and transaction reports? If you have like 20 of them in a week, someone might start asking questions, but there are people who literally deposit >$25K in cash every day with no issue. It boggles my mind why someone would want to take a legal transaction and make it illegal for absolutely no gain.
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Jan 23, 2015 17:18
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