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Bhodi posted:There was a blog post sometime last year about a BBQ he went to and listened to a relative or neighbor or something talk about horrible financial issues, and he said "If he was to ask my opinion, here's what I'd tell him. I obviously didn't because I'm not an rear end in a top hat who tells people what to do in social contexts" Yes, he has made this point tons of times. The commuting article was also about his theoretical advice to some fellow party-goers. Advice he didn't dish out because that would make him an rear end in a top hat. Doesn't everyone do this? I think those of us interested in FI are especially critical of those around us, because we're a minority who aren't following the trends. The difference between a critical person and an rear end in a top hat is when you start outwardly criticizing people's decisions. MMM outwardly criticizes people because he's playing a character on a blog. The Bad With Money thread exists to criticize people under an umbrella, since we can't criticize our idiot family members, neighbours and friends in real life.
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Mar 17, 2015 17:04
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I've started calling out my family on their poo poo every once in a while. I've posted about my dad and sister in the Bad With Money thread, and I usually only get to point where I'm posting about them when I'm actually agitated enough to also talk to them about it. My dad seems to be buying a new car every 8 months and my sister just spent $600 on a fancy but normal-sized cake for her baby shower. I know it's not really appreciated, so I don't do it often. When I do, I don't badger them or anything like that, I'll just say that what they're planning to do sounds crazy to me, and offer up alternative options that I'd consider in their place. Then I drop it. It's not my place to tell anyone else how to use their money. My dad busted his rear end and paid his three kid's college tuitions, he can do whatever the gently caress he wants with his money for the rest of his life. As much as MMM would have me believe it, my sister's hair is not really on fire. She has debt and she lives in a world of monthly payments, and that's the way she's choosing to live her life. Still, I try to offer them glimpses of how crazy some of the stuff they do is, and what making smarter financial decisions and saving money actually means. If all my sisters friends think it's perfectly fine to buy a $600 cake from a posh Brooklyn bakery, someone needs to tell her it's insane. Inverse Icarus fucked around with this message at 19:19 on Mar 17, 2015 |
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Mar 17, 2015 19:17
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Inverse Icarus posted:As much as MMM would have me believe it, my sister's hair is not really on fire. She has debt and she lives in a world of monthly payments, and that's the way she's choosing to live her life. Also, as MMM has pointed out before, going into debt means she actually gets less of the crazy things she wants, not more.
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Mar 17, 2015 19:25
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Cicero posted:but if something happens where she loses her job, it all goes to crap. She's a teacher with tenure, so.
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Mar 17, 2015 19:34
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Me and mine are getting ready to retire early in the next 5-10* years and to me it feels like the real secret to it is never having a car payment. Completely don't buy into the whole car thing no matter how much time you spend in your car and use that money elsewhere. It's sincerely crazy how much money you save by learning to love your 16 year old Honda Civic. * It's complicated Merrill Grinch fucked around with this message at 23:37 on Mar 17, 2015 |
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Mar 17, 2015 23:31
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Inverse Icarus posted:She's a teacher with tenure, so. quote:retire early in the next 5-10* years
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Mar 17, 2015 23:33
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Cicero posted:This is pretty much the thread for early retirement, why did you feel the need to asterisk this? Because the low side of the scale is me tapping into our old, unloved Roth's and eating the 10% penalty while the upper end is just waiting to be completely pension eligible and tap into the 401's and it can get really complicated trying to figure out how to juggle several sources of future income, especially when you're swimming against the current and trying to retire early. Nothing nefarious in putting a range of years, but actually deciding to eat a 10% penalty is a hard decision to make when you naturally live rather cheaply.
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Mar 17, 2015 23:41
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There is no penalty for withdrawing contributions to a Roth IRA. Is there a reason why you need every last penny of contributions, returns and dividends, rather than just the contributions?
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Mar 17, 2015 23:44
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Cicero posted:Fair enough, although of course it's always possible something will come up (e.g. finds ~*~the one~*~ and wants to move with him somewhere else, decides she is burned out on teaching and wants to quit, etc.). She's married to a purple heart recipient who is also a tenured high school teacher. I agree that debt is horrible and it terrifies me that she carries so much, but if they're both planning to devote their lives to teaching and they make all the monthly payments work, that's on them. I don't think they think early retirement is a thing they can do, or maybe they just don't want that. They're both very passionate about education. I'm sort of expecting them to slow down on the spending after the baby is born, but she's already getting designer diaper bags and things like that, so who knows.
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Mar 17, 2015 23:46
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I don't think anyone can truly say their jobs are 100% secure - it's true that different jobs offer different levels of stability and it's fine to compare them on that basis, but counting on that to the point where you're hosed if anything happens is still a really bad idea.
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Mar 17, 2015 23:54
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Jeffrey of YOSPOS posted:I don't think anyone can truly say their jobs are 100% secure - it's true that different jobs offer different levels of stability and it's fine to compare them on that basis, but counting on that to the point where you're hosed if anything happens is still a really bad idea. From a fi point of view though its a very different question. If someone is hitting 50% savings rate and they hold a job for 2 years they have a full years income saved and 2 years expenses. Sure it sets your plans back but job market instability is a lot less threatening once your a year or two or five down the track. Nice side benefit I guess.
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Mar 18, 2015 00:05
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Cast_No_Shadow posted:From a fi point of view though its a very different question. If someone is hitting 50% savings rate and they hold a job for 2 years they have a full years income saved and 2 years expenses. Yeah, you can certainly mitigate job instability with savings, that doesn't mean your job is stable. My point is no job is stable and thus it is extremely scary to live in a manner in which you need this month's pay this month.
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Mar 18, 2015 04:13
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Jeffrey of YOSPOS posted:I don't think anyone can truly say their jobs are 100% secure Maybe a riot cop in Greece?
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Mar 18, 2015 05:09
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Jeffrey of YOSPOS posted:Yeah, you can certainly mitigate job instability with savings, that doesn't mean your job is stable. My point is no job is stable and thus it is extremely scary to live in a manner in which you need this month's pay this month. Perhaps more important than whether you get fired or not is the issue of whether something happens to you that makes you unable to keep working. If you get hosed up in a car accident badly enough that you can't teach anymore it doesn't matter if you have tenure. Of course, then you have bigger problems than a six-month emergency fund can solve.
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Mar 18, 2015 14:25
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SpelledBackwards posted:Maybe a riot cop in Greece? You'll have a job, but will you get a paycheck ?
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Mar 18, 2015 16:46
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Zool posted:You'll have a job, but will you get a paycheck ? Then you have a ready made gang of looters right there in front of you! Although thr government that doesnt make sure they guys protecting them from rioting are paid is a very dumb (soon to be shortloved) government. Cast_No_Shadow fucked around with this message at 16:51 on Mar 18, 2015 |
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Mar 18, 2015 16:48
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Thesaurus posted:Perhaps more important than whether you get fired or not is the issue of whether something happens to you that makes you unable to keep working. If you get hosed up in a car accident badly enough that you can't teach anymore it doesn't matter if you have tenure. Of course, then you have bigger problems than a six-month emergency fund can solve. That's another benefit of full-time work at decent companies: LTD/STD insurance.
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Mar 25, 2015 20:31
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Inverse Icarus posted:She's married to a purple heart recipient who is also a tenured high school teacher. What's the Purple Heart got to do with anything? My last roommate with a 50 year old with 3 Purple Hearts and 2 Bronze stars (one of, if not the most decorated soldiers in Tampa bay). One month he was short on his half of rent and I literally saw him standing in the median of an intersection panhandling by holding a piece of cardboard with all those fancy medals pinned to it.
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Mar 27, 2015 20:39
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tesilential posted:What's the Purple Heart got to do with anything? My last roommate with a 50 year old with 3 Purple Hearts and 2 Bronze stars (one of, if not the most decorated soldiers in Tampa bay). One month he was short on his half of rent and I literally saw him standing in the median of an intersection panhandling by holding a piece of cardboard with all those fancy medals pinned to it. The purple heart really doesn't matter. All his time in the army counted as years worked for the purposes of his tenure, so he got it very shortly after starting his teaching career. I was trying to say that they both have fairly secure jobs and that's superfluous information. Sorry for the confusion.
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Mar 27, 2015 20:48
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Inverse Icarus posted:The purple heart really doesn't matter. Yeah figured you knew as much. I just needed an excuse to share that sad story. Dude had really bad PTSD and substance abuse problems.
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Mar 27, 2015 21:26
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Radbot posted:That's another benefit of full-time work at decent companies: LTD/STD insurance. This is hugely important. I was very sick (hospitalized level sick) for 3 months and having my normal paychecks come regularly due to STD was such a relief. I had enough saved up to last a few years, but not stressing about drawing that down was pivotal to me not freaking out and healing.
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Mar 28, 2015 13:06
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drat, three months of STD? That is some seriously impressive insurance, Queef.
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Mar 28, 2015 14:47
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Sundae posted:drat, three months of STD? That is some seriously impressive insurance, Queef. I think every place I've ever worked is 26 weeks STD and it kicks in after your pto is exhausted.
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Mar 28, 2015 15:46
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Vomik posted:I think every place I've ever worked is 26 weeks STD and it kicks in after your pto is exhausted. This was 3 months max at 100% pay, and it came before PTO. LTD kicks in after STD and PTO is exhausted at 60%. I thought this was kind of standard at non horrible jobs.
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Mar 28, 2015 15:53
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Most places use a standard of STD after all your paid leave, so that's even more awesome. My last three (I am a known connoisseur of terrible jobs, in fairness) were "use all your PTO" followed by 5 days STD at 100% followed by LTD. My first employer was 50%/75% (included benefit / extra you can pay for), followed by 45/60% at next employer, and now my current one is 50% self-paid benefit (no LTD included in benefits otherwise). So yeah, I get 5 days total after exhausting all my vacation days.
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Mar 28, 2015 16:12
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edit: you probably don't want to link this to anyone, as it's an MRA website as shown in the following posts. Cool little article about "gently caress you money". http://www.returnofkings.com/51800/why-you-should-have-a-gently caress-you-fund Knyteguy fucked around with this message at 16:06 on Apr 1, 2015 |
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Mar 31, 2015 22:10
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Knyteguy posted:Cool little article about "gently caress you money". http://www.returnofkings.com/51800/why-you-should-have-a-gently caress-you-fund OK article, but jesus what a terrible, terrible website: http://www.returnofkings.com/about
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Mar 31, 2015 22:29
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Thesaurus posted:OK article, but jesus what a terrible, terrible website: http://www.returnofkings.com/about Haha I was wondering why they were like "real men have financial freedom, women have expensive shoes." Google search  .edit oh jeez it's like MRA or something now I feel bad for linking it.
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Mar 31, 2015 22:34
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Hahaha, holy poo poo. Their top 35 articles have me in stitches just from the headlines.
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Mar 31, 2015 22:36
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If you click anywhere on the site, it offers an advertisement about a "free 9-step dating guide". Also: quote:5. A woman’s value significantly depends on her fertility and beauty. A man’s value significantly depends on his resources, intellect, and character. What a site.
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Mar 31, 2015 22:38
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Knyteguy posted:Haha I was wondering why they were like "real men have financial freedom, women have expensive shoes." They really seem to like manly men with money on that site. I'm wondering if the author has repressed some of his urges.
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Mar 31, 2015 23:35
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I kind of thought the website was about Lord of the Rings. Hobbits are probably pretty good with money ya know.
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Apr 1, 2015 01:01
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Knyteguy posted:I kind of thought the website was about Lord of the Rings. Hobbits are probably pretty good with money ya know. Shoes are for humans, elves, and dwarves, and maybe also orcs. Bare feet and financial freedom are for hobbits.
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Apr 1, 2015 01:31
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'gently caress you' money is awesome, admittedly (unlike that website).
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Apr 1, 2015 01:44
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Here's a take on "gently caress you money" from a much more pleasant person: http://jlcollinsnh.com/2011/06/06/why-you-need-f-you-money/ (if you ever feel the need to share the idea with someone but don't want to link them to an MRA site)
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Apr 1, 2015 01:56
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Jim Collins is a really cool and smart guy, in case anyone in here hasn't read his blog yet. Read his entire blog.
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Apr 1, 2015 02:05
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Putting it into action is even better. I'm being pressured to work at this school, which is a spectacularly messed up place. The politics are particularly intense and admin will regularly move a teacher three or four times in a year. So a social studies teacher could go from grade 7, to grade 9, to grade 12, then on to like grade 8 drama or some random thing. It takes a teacher a year or two to develop a quality program for one grade-subject so there's very little quality programming going on here. After a few days of other teachers telling me that they hoped I'd work here, I was talking to a teacher I'm close with and looked around and said, "You know, I don't think you could pay me to work in this place.  " That's gently caress-you money, even if it's just enough to keep me in house and home while I travel or decide to work for a year as a sub or something.
tuyop fucked around with this message at 02:28 on Apr 1, 2015 |
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Apr 1, 2015 02:09
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I liked that article aside from the "real men have financial freedom, girls have expensive shoes" part. But I just thought he meant "men who act like little girls" - not actually demeaning women  Change it to "real men have financial freedom, boys have expensive shoes" and it works! I'm glad I didn't share that article with anyone lest they think I'm some kind of MRA. Rick Rickshaw fucked around with this message at 13:28 on Apr 1, 2015 |
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Apr 1, 2015 13:20
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Boy am I glad I read the rest of the thread before sharing that link with the missus. I had to look up what MRA even was.
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Apr 1, 2015 14:03
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Expensive shoes are pretty cool.
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Apr 1, 2015 16:02
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