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MJBuddy posted:I told my mom to get a reverse mortgage if she needed it to retire because I was going to sell her house if she left it to me. Sometimes it's just good to talk about these things. Her home will mean a lot more to her emotionally. At least knowing she could reverse mortgage it if she needs money gives her a better retirement lifestyle option. In relation to downsizing, I figured from this post that she isn't interested in downsizing and can afford to live in it.
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Feb 17, 2015 03:26
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melon cat posted:Heh, I agree completely. And in many cases, nobody's breaking even. Because you'll get a $30 gift card for a retailer/restaurant you don't go to, and you might buy them something similar. In the end, everyone's wasting money. It's part of the reason why I went the extra mile and convinced my family (despite their protests) to do an annual Secret Santa instead of getting 15 thoughtless gifts that will only end up being re-gifted, or getting sold at a garage sale. The amount of money (and time spent shopping) saved was incredible. I'm a fan of the Chinese model of gift-giving. Gifts are given from the older to the lower generation and it's cash only.
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Feb 17, 2015 03:29
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If you die with less than $100 to your name, that either means that you were flat broke for some period of time before death, or that you timed your retirement withdrawals perfectly 
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Feb 17, 2015 03:37
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canyoneer posted:If you die with less than $100 to your name, that either means that you were flat broke for some period of time before death, or that you timed your retirement withdrawals perfectly Makes me think of a friends grandfather who was determined to leave nothing for when he'd end up in a rest home. He was literally drinking all of his remaining assets and having a great time.
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Feb 17, 2015 03:48
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Devian666 posted:Sometimes it's just good to talk about these things. Her home will mean a lot more to her emotionally. At least knowing she could reverse mortgage it if she needs money gives her a better retirement lifestyle option. She's considering it and she might, but her psychological hang-up is that she's had a mortgage since just before I was born and has never completely owned her home. I could tell her about interest rates all day but it won't matter. She's BFC bad with money, and I try to help when I can but eh I'm not going to get in a raised voice argument over it and all things equal she'll be fine for retirement if nothing horrible comes her way so long as she doesn't take a loan on her 401k or anything like that and outlives my grandparents. As far as downsizing: She'd have been fine to do that for years; I haven't spent more than a visit back home since 2010, but she likes her house, spent money putting in things she liked for it, and the last time she did that was right about when she sold her last house, so basically it would break her heart to finally solve the little home annoyances she's had and really like her house just to sell it again. It's not a monster-sized house or anything, but once my grandparents pass I'm hoping she'll come move around us in a small home/rental and retire (and provide free child care!). My grandparents are immortal, however, so there's no timeline on that. Devian666 posted:Makes me think of a friends grandfather who was determined to leave nothing for when he'd end up in a rest home. He was literally drinking all of his remaining assets and having a great time. I frequently say I'd like to burn through every dime before I die, but I recently had to explain to my wife that I'd never actually do it. Because after 20-30 years of burning through my funds and making it explicitly clear to my kids that they'd get nothing, if I hosed up my math at all the second I needed help I'd imagine that they'd all let me burn. So conservative retirement fund portfolio it is.
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Feb 17, 2015 04:37
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My wife and I are certain to inherit a pretty good amount of money when our parents die but being responsible sucks because it's not like I'll ever be able to spend it. I intend to leave more to my kids than what was left for me dammit. Sometimes I actually get jealous of people who can throw caution to the wind and drive giant trucks and get expensive electronics and vacations that are hilariously out of line with their annual incomes. I almost had a breakdown a few months after I bought a $12k car which i could easily afford and budget for. I just can't imagine what goes on in people's minds as to what they'll do when they can no longer work
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Feb 17, 2015 05:22
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oxsnard posted:I just can't imagine what goes on in people's minds as to what they'll do when they can no longer work Heh, it's cute that you're thinking that they plan ahead at all.
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Feb 17, 2015 05:27
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Golluk posted:Oddly enough I was talking to my co-worker who likes having a fancy summer car. He had bought one of the 60th anniversary Lotus Elise. Drove it for 5 months, tacking on 10k miles, then sold it for $15K more than he paid. I've had 17ish cars and have only lost money on 2 of them.
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Feb 17, 2015 05:36
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oxsnard posted:My wife and I are certain to inherit a pretty good amount of money when our parents die but being responsible sucks because it's not like I'll ever be able to spend it. I intend to leave more to my kids than what was left for me dammit. Money does have a higher value right now at this instant. Just remember they'll be the sad old people that talk about how they had it all at the pub. When in fact they blew everything. When I talk about retirees eating dog roll consider that I'm not actually joking about it. People have little in the way of savings or assets (the house never sells for the price they wanted) and when money gets tight frying up a slice of rogue protein is the step before failing to pay your bills. Buying truck equity is great if you enjoy eating pet food for 20-30 years. You have raised a really important point in the being responsible and never being able to spend the money. Here's the thing; get a retirement calculator that allows you to put in age, expected lifetime, desired income for your entire retirement. The numbers generated are pretty interesting if you've never done it before. If you have an iphone/ipad with Numbers app there's a template for this that you just put the above into. You can work out what you need for your lifetime and any extra you could budget to spend on yourself. Otherwise you might end up like the retired janitor who died at 95 with $8m in shares (his will donated the lot to charity, what a good guy). You can blow some of those future assets.
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Feb 17, 2015 05:46
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Comrade Flynn posted:I've had 17ish cars and have only lost money on 2 of them. That is impressive. However, have you properly calculated your expenses on the others?
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Feb 17, 2015 05:46
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Volmarias posted:It's not just that he thinks that they're a luxury, it's that he doesn't understand what mensuration is. If you spell it "mensuration", I begin to doubt that you know it, either. 
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Feb 17, 2015 06:35
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SpelledBackwards posted:If you spell it "mensuration", I begin to doubt that you know it, either. Are we talking about Maturation of debt here? And all the money you bleed each month in interest payments?
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Feb 17, 2015 07:45
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Devian666 posted:Makes me think of a friends grandfather who was determined to leave nothing for when he'd end up in a rest home. He was literally drinking all of his remaining assets and having a great time. Not ambitious enough for me. When I die, I want have my mourners to be very angry debt-collectors and repossession agents.
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Feb 17, 2015 09:54
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Mantle posted:Here are some questions I would ask myself if I were you in order to help me make a decision: It varies - but historically the loan has a 30 odd year history with a 1.4 % top in the 80s. The rate does not change after I graduate to something higher, I also do not have to pay back the loans until the year after I last took financial aid from the state. All student loans here in Sweden have a 25 year repayment plan - unless you'll be 60 before that. The repayment plan is around $1400 / year. Non-field jobs are very, very hard to come by where I live. The recession hit this place hard and competition for the few jobs that exist are insane - with the exception of the healthcare field, which is requires qualifications I do not have, or old-age care which requires a drivers license and is kinda-sorta in my field. Due to the nature of how student financing works here in Sweden I do not recieve any money during summers at all - which means I either have to find work, luck out on the few summer courses that exist or live on savings. This is why I'm considering getting the license before the summer since it would mean an almost guaranteed job due to the nature of my field (social work) coupled with the guaranteed 5-weeks vacation every regular gets during summers. Thus I'm weighting paying $140 in interest for the loan against what I could earn during summer. I'm very hestitant to get into more debt, but at the same time it would improve my chances drastically at getting a job during summer and possibly also during the fall/spring. I do need a license before I graduate as well, since it's a base requirement in my field (with very very few exceptions).
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Feb 17, 2015 10:40
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I worked with a guy who has the "had it all and lost it story" but I lost any pity I had for him when he told me the details. I guess he was in a car crash that he got a huge payout from (like a quarter mil payoff, he was in a coma for a month or something) and he blew through it all in less than three years and ended up having absolutely nothing to show for it, all the trucks and houses he bought got repossessed or whatever when he lost his "extremely stable job" he had at the time. I think he mouthed off to a CEO or something. poo poo like that drives me absolutely nuts. It makes me so mad when people fall rear end backwards into a pile of cash and somehow piss it all away like loving morons.
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Feb 17, 2015 13:19
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SpelledBackwards posted:If you spell it "mensuration", I begin to doubt that you know it, either. Phone posting, my phone keyboard got confused and I didn't proofread hard enough  Menstruation.
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Feb 17, 2015 13:24
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oxsnard posted:My wife and I are certain to inherit a pretty good amount of money when our parents die but being responsible sucks because it's not like I'll ever be able to spend it. I intend to leave more to my kids than what was left for me dammit. Which is a major contributing factor to why boomer children will not be better off than their parent; they spent all the drat money. I've been a little angry about this lately as I'm watching my grandparent's fortune get whittled to nothing and given my mother's lack of regrets regarding the situation, I know the same fate will be left to me. Not me. Part of my financial planning for retirement goes beyond the day I die. My heir should benefit from my works and I hope they do the same for theirs. Those loving HENRYs have a real opportunity to create wealth in their family but they'd rather a bigger house and fancy cars I'm sure.
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Feb 17, 2015 13:45
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Aristotle Animes posted:Which is a major contributing factor to why boomer children will not be better off than their parent; they spent all the drat money. I've been a little angry about this lately as I'm watching my grandparent's fortune get whittled to nothing and given my mother's lack of regrets regarding the situation, I know the same fate will be left to me.
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Feb 17, 2015 13:49
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100 HOGS AGREE posted:poo poo like that drives me absolutely nuts. It makes me so mad when people fall rear end backwards into a pile of cash and somehow piss it all away like loving morons. Keep in mind that there are many thriving industries based solely around extracting as much as possible out of Joe Blow's windfalls. People who fall into a big hunk of cash usually don't have to look very far to find somewhere inviting to spend it, and the average person has no real perspective on how quickly money can go away.
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Feb 17, 2015 13:57
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What part of "It's my money and I want it now" do you not understand? That truck equity ain't going to buy itself.
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Feb 17, 2015 14:26
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I know I'm a fuckhead entitled moocher, but my parents are extremely wealthy and I've thought about how nice it would be for them to sock away 2-3% of their fortune on a retirement account for me. They've never given me job connections, house down payments, cars, etc. But the feeling of knowing that I won't be eating catfood when I retire (despite saving 30% or so of my post tax income) would be awesome. Oh well, they said they're going to die broke, so better start saving.
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Feb 17, 2015 15:59
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SpelledBackwards posted:What part of "It's my money and I want it now" do you not understand? That truck equity ain't going to buy itself. CALL J.G. WENTWORTH
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Feb 17, 2015 16:53
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It came from reddit: lightning round. Pissing off your boss is bad with money.quote:I work for a small software development company. The owner decided to take us (about 20 employees) out for lunch. My co-worker (new to the company, recent grad, huge ego) ordered a beer. The owner stopped him mid-order and said in a jovial way, "Oh, we don't drink on the clock, haha!" The co-worker finishes ordering a beer. The owner says, "Come on, don't drink on company time!" The co-worker tells the owner all about how beer hardly affects him and he'll be fine having a beer or two for lunch. The owner says basically, "Let me be clear. Do not order a beer again. Do not drink on your lunch break." quote:I had a boss that used to brag about drinking some really expensive cognac. I think it was Louie the 13th or something. 
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Feb 17, 2015 17:37
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Funny, I had the opposite problem at a work lunch where some high level executives from Spain came in and after we all ordered our sodas, looked at us as if we were insane, and ordered up beer.
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Feb 17, 2015 17:40
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That's funny. We have vendors come in all the time and they're always trying to get us to drink crazy stuff with them - Pappy Van Winkle was the drink of choice last time. I think it's around $80/serving? Just in case you were wondering whether business decisions were made based on the needs of the company, and not the vendor who doles out the best swag.
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Feb 17, 2015 17:45
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Haifisch posted:It came from reddit: lightning round. Pissing off your boss is bad with money. I would have paid good money to witness the first one, just to know what a guy that smug sounds like
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Feb 17, 2015 17:45
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Haifisch posted:It came from reddit: lightning round. Pissing off your boss is bad with money. How tone deaf can a person possibly be.
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Feb 17, 2015 17:48
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Software engineers. (Not all of you, but all of you have "that" coworker)
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Feb 17, 2015 17:53
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Radbot posted:I know I'm a fuckhead entitled moocher, but my parents are extremely wealthy and I've thought about how nice it would be for them to sock away 2-3% of their fortune on a retirement account for me. They've never given me job connections, house down payments, cars, etc. But the feeling of knowing that I won't be eating catfood when I retire (despite saving 30% or so of my post tax income) would be awesome. Oh well, they said they're going to die broke, so better start saving. Eh it's a bummer but it's their money. My grandparents are same net result, except they claim they're passing everything down, but they invest it horribly (overly conservative) and then complain to me about their bad return. It only infuriates me because I'm carrying student loans and if they'd let me pay them instead and helped me pay the stupid loans off via a de facto refinance I could quadruple their monthly on that amount of money. RE: Drinking at lunch. I follow our client. If he orders a beer I'll order one with him, whether it's after work or at lunch. He feels a single beer is acceptable and frequently I'll still pass for a ton of reasons, but when we all went to take a working lunch to watch the World Cup matches? No problem from him. I'd never ever be the first to drink in the room. MJBuddy fucked around with this message at 18:03 on Feb 17, 2015 |
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Feb 17, 2015 17:57
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Firing an employee because they have a beer at lunch (even if they have the petty argument) seems pretty bad with money on the company's part too. It's one thing to fire them because of their ego but how did they not figure that out in the interview?
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Feb 17, 2015 18:00
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No I think the boss was completely in the right there. The company was paying for the lunch and counting it as company time. For him to ignore his boss's requests repeatedly - especially if they're as reasonable as "don't use my money to buy beer and drink while you're at work when none of the rest of us are" - how could the boss feel the employee would respect him and follow his orders in the future?
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Feb 17, 2015 18:03
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Nail Rat posted:No I think the boss was completely in the right there. The company was paying for the lunch and counting it as company time. For him to ignore his boss's requests repeatedly - especially if they're as reasonable as "don't use my money to buy beer and drink while you're at work when none of the rest of us are" - how could the boss feel the employee would respect him and follow his orders in the future? Yeah obviously the guy has a huge ego problem and no tact but how was that not figured out during the interview process? That's like, the primary purpose of having an interview in the first place. I have to assume they knew that and hired him anyway and the boss mainly acted towards the personal affront and not the underlying personality which they had already decided to cope with.
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Feb 17, 2015 18:05
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Jeffrey of YOSPOS posted:Yeah obviously the guy has a huge ego problem and no tact but how was that not figured out during the interview process? That's like, the primary purpose of having an interview in the first place. I have to assume they knew that and hired him anyway and the boss mainly acted towards the personal affront and not the underlying personality. Our last best candidate for a hire had a few things I noted as possible concerns and it became painfully obvious to my boss that it was worse than I expected (and she didn't think those tells meant anything). Happens? She was still the best qualified and if her position didn't get basically terminated due to bad luck we'd probably have to address it.
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Feb 17, 2015 18:07
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Jeffrey of YOSPOS posted:Yeah obviously the guy has a huge ego problem and no tact but how was that not figured out during the interview process? That's like, the primary purpose of having an interview in the first place. I have to assume they knew that and hired him anyway and the boss mainly acted towards the personal affront and not the underlying personality which they had already decided to cope with. I've never had "do you feel a bizarre obligation to drink alcohol all the time" come up during an interview. You can't figure everything out during an interview. It's possible the guy didn't act like this usually but just felt like he deserved to kick back with a couple of beers and was trying to change the company culture to be like that, and couldn't take no for an answer.
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Feb 17, 2015 18:09
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I remember hearing a story third hand about an undergrad doing an internship at some Wall Street firm. It was impressed upon him that whenever he was going out at a work function with management, he should be ordering a MAN'S DRINK. Nobody would respect the guy ordering an appletini. So, he's at lunch with some big shots from the firm doing a networking thing with the interns, and the server asks for drink orders, starting with him. He orders a scotch on the rocks. The bosses all order Diet Coke or water with lemon, because it's 11:00 on a Tuesday. I heard secondhand about an intern at my job make a sexist joke during a lunch with senior management. He had spilled something on his shirt, and someone pipes up to soothe the embarrassment about how to remove the stain. He says "I don't need to know how to remove a stain. What else is the woman in my house supposed to do?" The most senior manager at the table is a woman. She also is heavily involved in corporate recruiting and retention efforts for women and underrepresented minorities in our industry. He didn't get invited back for a full-time position. And here's a dummy that doesn't know how NDAs work. http://www.dailydot.com/news/google-employee-fired-reddit-post/
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Feb 17, 2015 18:11
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Nail Rat posted:I've never had "do you feel a bizarre obligation to drink alcohol all the time" come up during an interview. You can't figure everything out during an interview. My point is that, if it's just the alcohol itself, it makes no sense. What almost certainly did come up in the interview was the guy's attitude - no way did his personality flip overnight after he interviewed, that sort of thing shows through. Determining things like that about someone is why you are interviewing them(outside of basic competence) so I can't imagine they would have missed it. To me the simplest explanation there is that the company felt they could manage that, but the owner took it personally when exposed to it himself and that was it. I could be wrong but I'd love to see the interview notes on that guy.
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Feb 17, 2015 18:13
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To be fair, the dude in question was pushing his luck in multiple ways, the beer story was just the funniest part.quote:Well, the people on the other end didn't really know what was going on. I was sitting close to them and it was really awkward. Lots of eye contact avoidance. And then we all gossiped about it later.
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Feb 17, 2015 18:29
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Good with money: My wife's grandparents who retired in their late 50's, saved a lot of money and now have a kickass retired life - Grampa has lots of classic cars he tinkers with (57 Bel-Aire, 57 Thunderbird, 60 C-10 pickup) and Granny enjoys doing all her grandma craft things. They have a vacation home in Arkansas (paid for), their house in Texas (paid for) and a rental house across town (paid for). Bad with money: their daughter, my mother-in-law, who decided that they're way too frugal, and went and bought a $5000 diamond ring for Granny for her parent's 50th wedding anniversary. She then made Grampa reimburse her for the ring. She's also an ICU nurse that works weekends and overnights for bonus pay and even though she makes nearly six figures with all the bonus pay, she lives paycheck to paycheck. I'll write more later because there's so many "bad with money" stories about her.
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Feb 17, 2015 18:37
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Jeffrey of YOSPOS posted:My point is that, if it's just the alcohol itself, it makes no sense. What almost certainly did come up in the interview was the guy's attitude - no way did his personality flip overnight after he interviewed, that sort of thing shows through. Determining things like that about someone is why you are interviewing them(outside of basic competence) so I can't imagine they would have missed it. To me the simplest explanation there is that the company felt they could manage that, but the owner took it personally when exposed to it himself and that was it. I could be wrong but I'd love to see the interview notes on that guy. I'm guessing this was for some kind of tech job, and a lot of people expect engineers to seem a a little weird anyway, so any eyebrow-raisers during the interview might have just been shrugged off. Then again, it's also possible that the dude was on his best behavior during the interview, and thought that once he was on the inside he could do no wrong. Lots of new grads mess up in that way, though usually not as monumentally. edit: Just read Haifisch's update, sounds like he was just a douchey west-coaster trying to bring startup culture to a DC firm. That poo poo does not fly around here, and you're right, it's a little weird that that kind of vibe was not picked up during the interview. Not a Children fucked around with this message at 18:42 on Feb 17, 2015 |
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Feb 17, 2015 18:40
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Not a Children posted:Then again, it's also possible that the dude was on his best behavior during the interview, and thought that once he was on the inside he could do no wrong. Lots of new grads mess up in that way, though usually not as monumentally. Who doesn't put on a facade for job interviews? Even the weirdest members of my team don't go full on weirdo until a few months in until they learn what they can and can net get away with. I have one person here in particular who was the quietest, nicest, and most normal guy for the first two months I knew him, and now I'll go as far as to say he's the strangest person I've met in my life.
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