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Thank you, reddit. quote:Bought just under 7 grand in dogecoin, need advice?
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Mar 10, 2015 23:13
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Yes I'm talking about CoL adjusted. It's imperfect, but I don't have much else to reference in my field since such a huge amount of jobs in this field are in the SF bay area.Cicero posted:He's talking about adjusted for cost of living. The thing is, housing in the bay area is so expensive that getting "the equivalent of six figures in the bay area" in cheaper parts of the country is actually pretty easy, see: http://www.bestplaces.net/cost-of-living/sunnyvale-ca/reno-nv/100000 Wow that's impressively expensive. I'm very happy with our cost of living here. Still though I would probably take the higher CoL and $100,000 just for the climate and area.
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Mar 10, 2015 23:20
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turevidar posted:Thank you, reddit. quote:If I sell my dogecoins right now I would lose around $800, so I don't plan on doing so
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Mar 10, 2015 23:35
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It must be enjoyable investing in dogecoin which will never have another peak as the gimmick has worn off for bitcoiners. Of course they listen to the hype pushed by hammer-lickers and poor scammers living in trailer parks.
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Mar 10, 2015 23:41
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Cicero posted:He's talking about adjusted for cost of living. The thing is, housing in the bay area is so expensive that getting "the equivalent of six figures in the bay area" in cheaper parts of the country is actually pretty easy, see: http://www.bestplaces.net/cost-of-living/sunnyvale-ca/reno-nv/100000 I don't like these calculators, because they assume you are spending 100% of your paycheck and would be no matter where you lived. If your living expenses triple then sure, you're paying a lot more in living costs. However, if they were only 20% of your income to begin with, you'll still be earning more money even if your salary only goes up 50%, it doesn't have to triple.
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Mar 10, 2015 23:45
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Jeffrey of YOSPOS posted:I don't like these calculators, because they assume you are spending 100% of your paycheck and would be no matter where you lived. If your living expenses triple then sure, you're paying a lot more in living costs. However, if they were only 20% of your income to begin with, you'll still be earning more money even if your salary only goes up 50%, it doesn't have to triple.
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Mar 10, 2015 23:51
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Devian666 posted:It must be enjoyable investing in dogecoin which will never have another peak as the gimmick has worn off for bitcoiners. Of course they listen to the hype pushed by hammer-lickers and poor scammers living in trailer parks. I'll have you know that Dogecoin is the future. Let's take a look at the merchants who accept Dogecoin as listed on their official website, and I'm sure we'll find some professional legitimate retailers...  oh. Jeffrey of YOSPOS posted:I don't like these calculators, because they assume you are spending 100% of your paycheck and would be no matter where you lived. If your living expenses triple then sure, you're paying a lot more in living costs. However, if they were only 20% of your income to begin with, you'll still be earning more money even if your salary only goes up 50%, it doesn't have to triple. Bad with money? e: another thing to take into account for the CoL however is taxes. My gross pay compared to California automatically goes up by $4,000 (if a Googled calculator is correct) since we have no state tax. There's also much compromise that isn't accounted for in the CoL calcs. We would be extremely hard pressed to find a 3br house with a 1/3rd acre lot in SF unless we were honest to goodness millionaires I'd imagine, but they're practically a dime a dozen here. But we could likely sacrifice the car in SF or Seattle with the obvious cost savings there. Like Cicero said it's not really that simple. For me though it's a good enough gauge of what I should be making and it works well enough for quick comparisons in my opinion. That's all I was trying to say (and more importantly that it's not impossible to become a self taught developer who makes good money in the non-dot com era). Knyteguy fucked around with this message at 00:17 on Mar 11, 2015 |
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Mar 10, 2015 23:51
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Someone was telling me their company based in AZ does a cost of living adjustment for people assigned to the SF bay area office. It's less than 10% 
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Mar 11, 2015 00:52
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Knyteguy posted:e: another thing to take into account for the CoL however is taxes. My gross pay compared to California automatically goes up by $4,000 (if a Googled calculator is correct) since we have no state tax. I agree with your basic sentiment about CoL calculators. They are clearly very generalized comparisons that never fully capture any individual's performance. But states with no income tax usually get their budget from elevated property and sales taxes. That's probably why the leave it out. It's just too complicated to normalize. Of course for the high-income/low-consumption lifestyle, you want most of your states funding to come from sales tax so you can be as much of a free-rider as possible.
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Mar 11, 2015 01:08
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Folly posted:Of course for the high-income/low-consumption lifestyle, you want most of your states funding to come from sales tax so you can be as much of a free-rider as possible. edit: http://247wallst.com/special-report/2015/02/05/the-states-with-the-worst-taxes-for-the-average-american/4/ quote:1. Washington Cicero fucked around with this message at 01:26 on Mar 11, 2015 |
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Mar 11, 2015 01:23
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Cicero posted:Yeah I've thought about moving back to Seattle for exactly this reason. The highly regressive local/state tax setup in Washington State is extremely good for high earners who want to save money. Working from a home office and moving from a state with no income tax to a state with income tax was my bad with money move 
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Mar 11, 2015 02:14
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Being a 19 year old student and virgin going to strip clubs 8 times in 2 months and dropping a grand is being bad with money and also pretty bad at life IMO. http://www.reddit.com/r/toronto/comments/2ymn3b/to_the_strip_club_guy_this_is_important_you_need/
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Mar 11, 2015 04:22
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olylifter posted:Being a 19 year old student and virgin going to strip clubs 8 times in 2 months and dropping a grand is being bad with money and also pretty bad at life IMO. Sounds like IronCrowned from Work Crew :/
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Mar 11, 2015 04:47
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I've posted about my parents before… So... Mom posts on Facebook about selling her perfectly decent car. I think, "Oh, good. She never drives anyway." She seriously never drives. Due to anxiety and… whatever. Comments are asking her how much, why she is selling, etc. "Just buying a new car, and don't need two…" (I don't think she means new new, but still.) MOM. YOU DON'T DRIVE. You guys have no retirement funds, you haven't worked in years, asdvherugfndiosdsgh I am so looking forward to taking in my parents in five years when they are bankrupt (again!) and my dad can't work to support them anymore. [/stroke] spinst fucked around with this message at 05:46 on Mar 11, 2015 |
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Mar 11, 2015 05:44
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My mom is hitting early retirement age this year. Me: hey, so just thinking on this, since we're talking about you moving locations and stuff, how are your retirement savings? Mom: No clue. Me: well just like a ballpark? Around where your at? Mom: No idea, really. Ugh. She's not that bad off but I'm visiting in a month and I'm going to set her up with Mint so she can at least see her numbers. If only to answer me when I nag her.
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Mar 11, 2015 15:03
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MJBuddy posted:My mom is hitting early retirement age this year. I'm having the same conversation often with my mom also. We're going to Cricket to get her off a really expensive mobile contract plan (she's off contract but still paying absurd money) and onto a more reasonable one. They're paying $200 a month for cable so I'm trying to get her to just call and get her cable bill lower (or get rid of it). They make nearly $70,000 a year and they're flat broke every single month with my step dad putting every hour of every weekend towards extra work. According to him they're $15,000 in debt (plus a mortgage) which is obviously manageable with that income. The good news is she's more open to input than I've ever seen her. I'll also be trying to get her to use Mint when we get her a new phone Friday.
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Mar 11, 2015 16:23
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pig slut lisa posted:Sounds like IronCrowned from Work Crew :/ Hot poo poo I think it is, I've never seen someone so proud of being a strip club aficionado.
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Mar 11, 2015 17:09
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MJBuddy posted:My mom is hitting early retirement age this year. I started talking to my Mom about it recently too. She's cashed out previous 401ks when changing jobs, and is still quite a few years off from paying her house off. Good news is she's at a really good earning point for her career and still has about 10 years left before I imagine she'll want to relax. The really good news is my step dad is a teacher and has a really good pension set up. I also made sure she was still covered if he died and it sounds like the pension extends for her life time as well. Between the 2 streams they will be making 80%-90% of their current income as regular payments. It really is comforting to know they will enjoy a relatively worry free retirement at similar level of income. Also the grand kids (she cares for full time) will be close to grown and out of her house by then, so maybe she can move out close to me and I can make her a new batch of grand kids she wont have to take care of full time  It really helps get me fired up about retirement savings to see people getting close and either hitting the mark or having to work indefinitely. Being in the latter group is pretty terrifying.
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Mar 11, 2015 17:17
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Folly posted:I agree with your basic sentiment about CoL calculators. They are clearly very generalized comparisons that never fully capture any individual's performance. But states with no income tax usually get their budget from elevated property and sales taxes. That's probably why the leave it out. It's just too complicated to normalize.  Tennessee. Sales tax is almost 10%, but no state income tax!
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Mar 11, 2015 17:25
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BossRighteous posted:I started talking to my Mom about it recently too. She's cashed out previous 401ks when changing jobs, and is still quite a few years off from paying her house off. Good news is she's at a really good earning point for her career and still has about 10 years left before I imagine she'll want to relax. The really good news is my step dad is a teacher and has a really good pension set up. I also made sure she was still covered if he died and it sounds like the pension extends for her life time as well. Between the 2 streams they will be making 80%-90% of their current income as regular payments. My mom will probably have enough in the next few years to comfortably have a scorched earth retirement wherein she simply uses up her savings entirely. If she inherits anything, she can have a perpetual retirement and be fine as well, or overdraw, etc. And be fine. But she needs to know how close/far she is and she's planning on moving to a much higher cost of living area to be around us by then so I'd like to actually help her get set up before she arrives in person.
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Mar 11, 2015 17:48
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BossRighteous posted:It really helps get me fired up about retirement savings to see people getting close and either hitting the mark or having to work indefinitely. Being in the latter group is pretty terrifying. I don't think I have some clearly defined "I should really start saving a lot more for retirement" moment, but working with a steady stream of beat down old timers in menial jobs in my formative years certainly kickstarted that thinking. I worked with a guy for a few years that had a myriad of health problems - Simpsons yellow jaundiced skin, hobbled around on a cane, coughed like crazy (I believe it was lung cancer) and just generally looked like a walking corpse. He was in his late 50's but could have passed for about 80 years old. He had a wife and two adult children living with him and he was the sole breadwinner. In about the year leading up to his death, he would take a lot of (unpaid) time off, interspersed by a few weeks or months of work whenever he could drag himself in there, which probably contributed to shortening his life even more. I did whatever I could at work to help pick up the slack for him but it really didn't matter at the end of the day. I didn't know the whole story but those leeches should have done anything they could to find work to pay the bills so he didn't have to suffer. I saw them all at the wake and couldn't even look them in the eye. I can't imagine he left them a thin dime. Bad with money, all of them.
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Mar 11, 2015 18:48
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My parents are thankfully pretty ok with money* but one thing in particular is not great. My grandfather worked for PPG and after he retired he started buying company stock. I assume employers will let you buy stock at a reduced price as a benefit, so he did it as an investment and out of loyalty since he worked there so long. Solid middle class guy, not wealthy by any means. When he died his kids split the stock, my mom told me last month that now their share of the stock is worth $250k. Would have been more, but they had never been able to get the automatic reinvestments for the dividends setup correctly. Anyway, I hate to rain on their parade but it's just really risky having a lot of one kind of stock. I mentioned this to them but they don't really know what to do with it with the least amount of impact on taxes, whether or not they could roll it into an IRA or something, etc. I'm sure part of it is is that the like to keep it there as well since it's what he did as an honorary thing or something. * On the bright side, they don't really need the money so it's pretty much just a little nest egg. They both have pensions, and my dad receives VA benefits due to a disability, outside that I think they have some IRAs so they're doing fine.
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Mar 11, 2015 19:40
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dreesemonkey posted:My parents are thankfully pretty ok with money* but one thing in particular is not great. My grandfather worked for PPG and after he retired he started buying company stock. I assume employers will let you buy stock at a reduced price as a benefit, so he did it as an investment and out of loyalty since he worked there so long. Solid middle class guy, not wealthy by any means. Uhhh, don't ever show them this or they might kill themselves.
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Mar 11, 2015 20:46
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fruition posted:Uhhh, don't ever show them this or they might kill themselves. Hahaha wow.
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Mar 11, 2015 20:48
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fruition posted:Uhhh, don't ever show them this or they might kill themselves. I saw that too, yahoo's didn't look like that, so I wonder if it was a stock split or something (I know next to nothing about investing) 
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Mar 11, 2015 21:32
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I make a killing through my company's ESPP program, and what do they do the next year? Why, eliminate the program, of course! Wouldn't want employees who are investing in their company to share in the rewards.
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Mar 11, 2015 21:53
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It's a 1:4 split.
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Mar 11, 2015 21:53
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dreesemonkey posted:I saw that too, yahoo's didn't look like that, so I wonder if it was a stock split or something (I know next to nothing about investing) Bingo. That's what the purple S at the bottom is, a 1/4 split and a 1/50 split. The sites usually correct it going into the past, but it looks like Google finance's graph didn't use the correct split ratio for the second split.
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Mar 11, 2015 21:54
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It was a 1:4 stock split. So don't show them that chart. It's meaningless from their perspective.
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Mar 11, 2015 21:54
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I got one of these: Lets meet my coworker, Bob. Bob makes a lot of money. How much money? Well he makes well over $2,000/day consulting. Consulting what? Well I'll get to that later. Bob has a problem. He and his wife came from nothing. Not the type of come from nothing where you are really frugal either, its the come from nothing and have to let everyone know you're hot poo poo now kinda couple. The kind who go on 3-5 major vacations around the year, spend a ton of money on food, have expensive vehicles (>$70,000) for each person in the family (3 kids). They have two houses and land equaling over $1,000,000 in value, a restaurant that the wife runs that fails to turn a profit every year. Also on this list we have to add motorcycles, 4 wheelers, multiple boats, and are overall pretty terrible with their money. So where is all of this going? Well, Bob has monthly payments >$14,000/month and essentially lives paycheck to paycheck. Now tragedy strikes: A fire breaks out next to their restaurant and it burns to the ground. Well good thing they have insurance, except that it was closed for renovations and the contents were not covered at the time of the fire. Luckily, Bob gets a check for $150,000 to cover the building so he can at least clear that payment and just try to pay off the newly purchased contents, right? Wrong. Guess who just bought a fully loaded Ford F-150 Raptor for himself, a Range Rover for his wife, and a trip to Europe with the whole family to deal with the "stress". So, at this point most people would be thinking: hey, this guy makes bank so who cares if he spends like there is no tomorrow. That brings us back to what Bob consults. He consults in the oil and gas industry where plummeting commodity prices means he is facing a certain layoff within the next year if things do not change.
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Mar 11, 2015 23:10
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Makes me want to get into oil and gas. Digital marketing is cool but it sure as gently caress doesn't pay $2k/day.
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Mar 11, 2015 23:22
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Radbot posted:Makes me want to get into oil and gas. Digital marketing is cool but it sure as gently caress doesn't pay $2k/day. He a company man, meaning he is in charge of a drilling site. Never spent a day in college. I think he is probably closer to 2300 but I'm not exactly sure. The thing is they work 24 hours for 2 weeks straight and are the first to go when things slow down they are usually top of the list to go.
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Mar 12, 2015 00:27
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Radbot posted:Makes me want to get into oil and gas. Digital marketing is cool but it sure as gently caress doesn't pay $2k/day. Don't. Those people wake each morning with a chip on their shoulders about how america won't get out of it's own way and start drilling everything. Their entire lives are spent surrounded by what a success oil brings to everything it touches down to the hotels they stay in and the restaurants they eat in. The industry is tone deaf to the writing on the wall. It's been collapsing and spenders like "Bob" are common tragedies as a lot of those guys deal with their pending doom in some really self-destructive ways. I work in ocean sciences so some of my peers have taken the Shell dollar and they end up broken people. The people I deal with in oil are by and large repugnant with angry personalities.
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Mar 12, 2015 12:52
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Radbot posted:I make a killing through my company's ESPP program, and what do they do the next year? ESPPs deeply creep me out and seem super risky to me so this post is weirding me out.
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Mar 12, 2015 13:01
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The Devil Tesla posted:ESPPs deeply creep me out and seem super risky to me so this post is weirding me out. The returns are really, really good even if you immediately sell - better if you can hold for long-term capital gains to qualify. https://blog.wealthfront.com/good-espp-no-brainer/
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Mar 12, 2015 13:12
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The Devil Tesla posted:ESPPs deeply creep me out and seem super risky to me so this post is weirding me out. I get what you're saying, because your employer holds your salary and it represents a great deal of your existing financial risk. So investing more in the same company is like the opposite of good diversification practices. But on the other side, free money! It's a classic BFC dilemma. My ESPP was really good for me. It allowed me to buy stock at a major discount because the plan would purchase lumps of stock in advance and then sell me stock at a 15% discount on the lower of either A) the price the day I bought the stock or B) the price the day the plan bought the stock. I ended up buying a lot of stock at around $60 a share while it was selling on the market for around $100. Then the IRS changed the rules. But that discount was enough to overcome my aversion to the concept.
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Mar 12, 2015 13:31
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FormatAmerica posted:The returns are really, really good even if you immediately sell - better if you can hold for long-term capital gains to qualify. My wife's company offers an ESPP, but it takes something like four years to vest, so you can't do the buy and immediately sell trick.
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Mar 12, 2015 13:38
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The Devil Tesla posted:ESPPs deeply creep me out and seem super risky to me so this post is weirding me out. If my company offered an ESPP, I would totally do it - after maxing out my 401k and IRA. Which I'd be in a position to do next year. Of course to do that we'd need to go public, and I really hope that doesn't happen 
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Mar 12, 2015 14:14
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My company offers an ESPP, but it is horrific. You tell them what % of your salary you would like to spend on stock, they put the order in once a month, and the company pays the transaction fees. That's it. No discount, no lower-of-current-price-or-previous-price selection. I don't participate for that reason. Of course, when I joined the company we were trading at $60/share, and now it's at $170/share, so what the hell do I know.
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Mar 12, 2015 15:23
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While I would normally advocate against betting even more of your finances on the place that already pays your salary, in practice I've seen ESPPs yield really good returns and be very leniently taxed. If you're in a position to take them, do. A huge number of more senior people at my old work made around 50k USD after taxes when we were taken over, from an initially very modest investment that would've otherwise been taxed to hell and back.
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Mar 12, 2015 15:28
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