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Here in the Fargo airport they have a nice little boat by the baggage claim, showing a monthly payment of $255. Curious about the term, I wandered over and the fine print is for 180 months. 15 loving years to pay for a boat!
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Apr 9, 2015 14:32
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subx posted:You don't quite get the same protection because the money still comes out of your account. You may be able to recover it but you are not going to be able to access that money until you do. With a normal credit card, you don't spend any of your own money until you pay the monthly bill, so if you have a dispute your account may get frozen while they investigate, but you don't have to worry about your bank account going negative. I'm in agreement, I only use my debit card to get cash at ATM's.
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Apr 9, 2015 14:52
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A couple of non-Bitcoin-related "bad with money" stories recently came up in the YOSPOS Bitcoin thread:Azathoth posted:during a dark time in my life, i worked at a store that sold moneypak. it happened to be in an area with a large immigrant community and we had a steady stream of people come in every payday with a wad of cash to reload their green dot card. nothing scammy, unbanked people have bills to pay and stuff to buy and running around with a stack of cash is annoying and a little dangerous. surebet posted:i worked with a guy that had a fierce drinking problem, and he was paid via direct deposit on wednesday night midnight-ish killhamster posted:i got a job working for a bank years ago and my very first call was some idiot kiting checks and not understanding why this was a bad thing
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Apr 9, 2015 16:27
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Sephiroth_IRA posted:Yeah I feel bad for her and it sucks that a lot of business boils down to deceiving people who are ignorant for good reasons, like being young. http://www.metacafe.com/watch/hl-6122223/king_of_the_hill_sticker_price_season_12/ "special deal"
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Apr 9, 2015 16:53
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My dad sent me an email. Long story short, my sister is about to give birth, and my dad has it in his head that storing the cord blood in a private bank is critically important, because "the benefits of stem cells are yet unknown." My wife and I are in the process of trying to adopt a child, and my dad is offering to pay for this for my sister and me. He linked me to this: http://www.cordblood.com/ I read around that page, watched a video, and checked out cord blood banks on Wikipedia, because I hadn't really heard of them. http://en.wikipedia.org/wiki/Cord_blood_bank posted:The policy of the American Academy of Pediatrics states that "private storage of cord blood as 'biological insurance' is unwise" unless there is a family member with a current or potential need to undergo a stem cell transplantation. The American Academy of Pediatrics also notes that the odds of using one's own cord blood is 1 in 200,000 while the Institute of Medicine says that only 14 such procedures have ever been performed. Private storage of one's own cord blood is unlawful in Italy and France, and it is also discouraged in some other European countries. The American Medical Association states "Private banking should be considered in the unusual circumstance when there exists a family predisposition to a condition in which umbilical cord stem cells are therapeutically indicated. However, because of its cost, limited likelihood of use, and inaccessibility to others, private banking should not be recommended to low-risk families."The American Society for Blood and Marrow Transplantation and the American Congress of Obstetricians and Gynecologists also encourage public cord banking and discourage private cord blood banking. Nearly all cord blood transfusions come from public banks, rather than private banks, partly because most treatable conditions can't use one's own cord blood. So basically, it's like $1.5-2.5k up front and $150-300/yr to keep cord blood in a jar only you can use, just in case you need some stem cells later. The odds of you needing them and actually being able to use your own are extremely rare, based on current science. Personally, I'd rather donate Politely declining, I quoted that same bit of the Wikipedia article and said if anything, I'd donate it to a public cord bank, or to medical research. He got extremely mad about this for some reason, saying he was "tired of arguing with me"  and how I should learn to accept a gift.Edit: For the record, I'm like 90% certain my sister will accept this. Inverse Icarus fucked around with this message at 17:57 on Apr 9, 2015 |
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Apr 9, 2015 17:51
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Inverse Icarus posted:cord blood Giving birth is one of those times where you are emotionally vulnerable because all these companies have to do is like, imply you aren't thinking of the future health of your child and suddenly you are bending over backwards to write them a check for a few thousand dollars. When I was pregnant, I think I got spam in the mail about cord blood banking about once every two weeks in the last two trimesters. Literally just kept sending me literature because I made it on some "I'm having a baby" database. It's sad how often people just give in to emotional blackmail, basically. See also: wedding and funerals. But yes, you are correct in your assessment that private cord blood banking is dumb as hell.
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Apr 9, 2015 17:58
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Maybe he'd trust the AABB more than a wikipedia article?http://www.aabb.org/sa/facilities/celltherapy/Pages/cordbloodfaqs.aspx posted:What are the chances I will need my child’s UCB product? It also says the usual about public vs private(private just holds it for your family, which is dumb as hell because you probably won't use it). Although it sounds like he just has the idea firmly in his head that this is Very Important for his grandchildren's health, so it'll be hard to dissuade him. Haifisch fucked around with this message at 18:04 on Apr 9, 2015 |
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Apr 9, 2015 17:59
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Just from a medical technology standpoint, its seems unlikely to be useful. Your kid would need to have a condition or injury that can be treated by a stem cell therapy, that cannot take advantage of olfactory or induced pluripotent stem cells. There is going to be more money for developing treatments that don't require banked chord blood, since the percentage of the population that is banking chord blood is low.
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Apr 9, 2015 18:04
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ExtrudeAlongCurve posted:But yes, you are correct in your assessment that private cord blood banking is dumb as hell. It isn't just dumb as hell, it is counter productive. Assuming this stuff is even useful, it is far more likely that a large, public repository of blood/guts/tissue will have what you personally need, than it is that someone in your family will have stored it. People need to accept that public goods have merits and not try to do everything on their own, drat it.
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Apr 9, 2015 18:40
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MickeyFinn posted:It isn't just dumb as hell, it is counter productive. Assuming this stuff is even useful, it is far more likely that a large, public repository of blood/guts/tissue will have what you personally need, than it is that someone in your family will have stored it. People need to accept that public goods have merits and not try to do everything on their own, drat it. When my baby was born I wanted to donate to a public cord blood bank, but the hospital didn't do that. So I didn't. The private cord blood banking industry is sleazy as hell. I got a lot of leaflets for it in the big pack of information my Ob-Gyn gave me when I first got pregnant.
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Apr 9, 2015 19:05
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A co-worker just told me about his late 90's vintage projector. Broken now (for the second time) and the size and weight of a checked suitcase. Price when bought new in 1998? Oh, a cool $4000. Used for showings of movies from his collection of $50 laserdisks.
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Apr 9, 2015 19:29
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Bad With Money is being in charge of the $160 billion basket of NYC pensions and only after a decade realizing that the funds' entire gains have been eaten up by active management fees. I'm on my phone so I can't link it, but the NYT reported on this yesterday and it should be easy to find. vvvvv thanks pig slut lisa fucked around with this message at 21:29 on Apr 9, 2015 |
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Apr 9, 2015 19:43
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pig slut lisa posted:Bad With Money is being in charge of the $160 billion basket of NYC pensions and only after a decade realizing that the funds' entire gains have been eaten up by active management fees. I'm on my phone so I can't link it, but the NYT reported on this yesterday and it should be easy to find.m "Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains" http://www.nytimes.com/2015/04/09/nyregion/wall-street-fees-wipe-out-2-5-billion-in-new-york-city-pension-gains.html Ouch, that's over a 10 year period.
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Apr 9, 2015 20:17
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My main question is why are people from Washington so bad at money, half those reddit r/finance shitheads seem to be from here, and we have guys like Slomo with their own threads on this site... Am I doomed to bankruptcy and poverty?
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Apr 9, 2015 20:39
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How much truck equity have you amassed?
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Apr 9, 2015 20:47
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Seattle is a bunch of new money tech people, they get paid mad bank and want to impress all their friends and have no idea what to do with money but spend it all.
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Apr 9, 2015 20:47
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OneWhoKnows posted:"Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains" Please bring this money to Vanguard, thank you.
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Apr 9, 2015 20:48
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OneWhoKnows posted:"Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains" So just think of all the losses they might have incurred if they hadn't used properly-managed funds! 
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Apr 9, 2015 20:56
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It Came From Reddit: http://www.reddit.com/r/personalfinance/comments/2mnxr3/need_advice_on_moving_forward_after_mom_was/ http://www.reddit.com/r/personalfinance/comments/2mvthx/update_moving_forward_after_my_mom_was_scammed/ http://www.reddit.com/r/personalfinance/comments/31w32e/3rd_update_moving_forward_after_my_mom_was_scammed/ Long story short, this gal's 66 year old mother was fleeced for ~$295,000 on one of those Nigerian "you won the lottery, you just need to pay the taxes/fees up front" scams.
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Apr 9, 2015 21:09
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I posted a thread in /r/bitcoin to ask how they manage their investments. Only got one good bad with money reply.quote:You've probably seen this before but: Never invest more than you are willing to lose. I think the best example of how to "invest" in Bitcoin is to compare it to purchasing a lottery ticket. You should not expect an insane return on investment (or even a positive one), and you should also not be overly upset if what you invest becomes a sunk cost. He has a great savings rate of 20%. He puts it all into bitcoin though. He says don't time the market but bitcoin is on the long slide down to $0. Of course he's in college so he's probably borrowing the money. His advice on investing: sell all of your assets and buy bitcoin to hold onto it (that's what HODL is). He needs to sell out of his terrible position.
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Apr 9, 2015 21:34
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OneWhoKnows posted:It Came From Reddit: I guess the flipside of this story is that some Nigerians are being very good with money!
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Apr 9, 2015 22:06
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HODL literally means "hold on for dear life." Bitcoiners are insane.
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Apr 9, 2015 22:28
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I thought that asking questions that would draw out the investment "knowledge" of bitcoiners would paint an interesting picture. But so few of them are interested in investing. Hold and pray is their strategy.
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Apr 9, 2015 22:50
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Nocheez posted:HODL literally means "hold on for dear life." Bitcoiners are insane. No, it doesn't. It was a stupid typo made by a stupid bitcoiner that other stupid bitcoiners took to be the pinnacle of comedy and proceeded to run into the ground. Bitcoiners are stupid.
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Apr 10, 2015 00:07
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Weatherman posted:No, it doesn't. It was a stupid typo made by a stupid bitcoiner that other stupid bitcoiners took to be the pinnacle of comedy and proceeded to run into the ground. Bitcoiners are stupid. And nothing like this has ever happened on the Something Awful dot com Forums.
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Apr 10, 2015 01:59
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moana posted:Seattle is a bunch of new money tech people, they get paid mad bank and want to impress all their friends and have no idea what to do with money but spend it all. It's exactly this. College kids getting paid 120,000 a year means you get to see people learn really stupidly bad habits and wreck the local rental market! 3000 for a studio? They'll take it with out negotiating because they've got no other bills and don't care about saving. I wish I could say I say I was joking about that sort of income first year out of college but I see it every day.
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Apr 10, 2015 02:02
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Weatherman posted:No, it doesn't. It was a stupid typo made by a stupid bitcoiner that other stupid bitcoiners took to be the pinnacle of comedy and proceeded to run into the ground. Bitcoiners are stupid. Oh. Well then. It's not usual for Bitcoiners to gently caress up something simple.
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Apr 10, 2015 02:10
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Not a Children posted:These actually came out of the old feminism thread in E/N My heart says that this whole thread is really a derail from horse chat. I want to print those out and carry them in my wallet so I can read them to myself in moments I need joy.
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Apr 10, 2015 03:35
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OneWhoKnows posted:"Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains" Oh no my dad 
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Apr 10, 2015 03:54
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OneWhoKnows posted:"Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains" I hate to play the devils advocate here, but doing some napkin math shows that if that 2.5 billion was extracted over a 10 year period, and the 160b in total holdings was maintained as a result of that, wouldn't that mean that the fees were about equal to the apparent growth rate of about 250m per year, about 0.0015% per year? Would that be considered excessive for a pension fund? I mean, 0.0015% returns is pretty dismal, so it'd be more poor investment decisions than excessive fees doing the damage, right?
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Apr 10, 2015 04:32
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Not a Children posted:I hate to play the devils advocate here, but doing some napkin math shows that if that 2.5 billion was extracted over a 10 year period, and the 160b in total holdings was maintained as a result of that, wouldn't that mean that the fees were about equal to the apparent growth rate of about 250m per year, about 0.0015% per year? Would that be considered excessive for a pension fund? I mean, 0.0015% returns is pretty dismal, so it'd be more poor investment decisions than excessive fees doing the damage, right? Basically they don't deserve any fees for their poo poo performance, or at least that's how the man on the street would view it. They fact that they look like they put the money into CDs and collected the money for themselves is nasty.
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Apr 10, 2015 04:42
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Not a Children posted:I hate to play the devils advocate here, but doing some napkin math shows that if that 2.5 billion was extracted over a 10 year period, and the 160b in total holdings was maintained as a result of that, wouldn't that mean that the fees were about equal to the apparent growth rate of about 250m per year, about 0.0015% per year? Would that be considered excessive for a pension fund? I mean, 0.0015% returns is pretty dismal, so it'd be more poor investment decisions than excessive fees doing the damage, right? They didn't put the whole fund in hedge fund management.
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Apr 10, 2015 04:46
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Not a Children posted:I hate to play the devils advocate here, but doing some napkin math shows that if that 2.5 billion was extracted over a 10 year period, and the 160b in total holdings was maintained as a result of that, wouldn't that mean that the fees were about equal to the apparent growth rate of about 250m per year, about 0.0015% per year? Would that be considered excessive for a pension fund? I mean, 0.0015% returns is pretty dismal, so it'd be more poor investment decisions than excessive fees doing the damage, right? I think you're right. I got this good response when I asked about this in the long term investing thread: warderenator posted:This guy thought the overall fees weren't that bad, but I dunno:
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Apr 10, 2015 04:46
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Tales Of Desire posted:How much truck equity have you amassed? err... I drive a Sedan that I paid cash for? Then again its a Pontiac so... bad with money
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Apr 10, 2015 05:04
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There seems to be some bullshit going on here by the fund manager. He claims the fees have eaten the returns. However the bloomberg article shows 10 year returns in the fund ranging through 6% to 13% annual return over the 10 years. The returns are substantial even the summary at the start of the report linked in the article talks about 12% returns in 2013 and 17% in 2014. So they get this level of returns and he's bitching about 0.2% fees? There's some political bullshit going on here. Maybe they priming people to accept poo poo payouts from the fund because they can't afford to pay everyone at retirement? Maybe there's something else going on? Either way someone is lying.
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Apr 10, 2015 05:09
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Devian666 posted:There seems to be some bullshit going on here by the fund manager. He claims the fees have eaten the returns. However the bloomberg article shows 10 year returns in the fund ranging through 6% to 13% annual return over the 10 years. The returns are substantial even the summary at the start of the report linked in the article talks about 12% returns in 2013 and 17% in 2014. So they get this level of returns and he's bitching about 0.2% fees? The NYT article is worded poorly, I think. If I understand the Bloomberg guy correctly, the management fees actually ate up only the returns above the level that the total market returned. In other words, the managers outperformed the market, and then they clawed back 95% of that outperformance. But the fund still had plenty of market gains over that time.
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Apr 10, 2015 05:17
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It's just political grandstanding, nothing more, nothing less. I smelled bullshit as soon as I read the NYT story. They tried to make it sound like the fees ate all the returns, but if you read carefully, they never actually say it. Pathetic. That said, if they're unhappy with the fees or performance, they can just do what every other institution does when they're unhappy with their investment managers. Fire them and hire other managers. And save us the crocodile tears of "Wall Street is STEALING MONEY FROM TEACHERS AND SANITATION WORKERS HURRRR!" Yeah, or, you know, get your name in the NYT. That works too.
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Apr 10, 2015 05:43
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pig slut lisa posted:The NYT article is worded poorly, I think. If I understand the Bloomberg guy correctly, the management fees actually ate up only the returns above the level that the total market returned. In other words, the managers outperformed the market, and then they clawed back 95% of that outperformance. But the fund still had plenty of market gains over that time. This is the correct read of what happened.
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Apr 10, 2015 06:04
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Devian666 posted:I thought that asking questions that would draw out the investment "knowledge" of bitcoiners would paint an interesting picture. But so few of them are interested in investing. Hold and pray is their strategy. 
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Apr 10, 2015 06:06
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blindly trusting the clickbait shitrag that is the NYT is bad with money
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Apr 10, 2015 06:07
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