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You could triple my pay and I still wouldn't move from Seattle to Des Moines. Bad with money, I know.
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Apr 11, 2015 17:57
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My sister might be moving to Louisiana because her boyfriend (and possible baby daddy, already tried once) got an offer in the oil industry.
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Apr 11, 2015 18:36
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MrKatharsis posted:You could triple my pay and I still wouldn't move from Seattle to Des Moines.
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Apr 11, 2015 18:46
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MrKatharsis posted:You could triple my pay and I still wouldn't move from Seattle to Des Moines. You'd live like a king. Seattle is our second favorite city. Tons to do, safe, beautiful. But god drat, we own a nice house here with a yard. A smaller house in a shady neighborhood would be almost twice the cost, plus higher taxes and utilities. Seattle is bad rear end, not gonna disparage but if you did have an offer to move to des moines with triple pay, that'd be grounds for divorce. Hell move back when you retire, but it's p awesome here.
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Apr 11, 2015 20:23
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My brother is not so smart with money. He worked as a software developer at a non-tech company in NYC, making decent money but nothing spectacular. The place was so poorly managed that over the 4 years he worked there, he maneuvered his position to be in a department where he was the only engineer, arranged his schedule so that he came in at 11, left at 4, skipped coming in at all on Thursdays, and barely produced any code. Then a major major shakeup happens because the company's stock is performing so poorly (no surprise). Most of the management is fired, and a new CTO is brought in. My brother has to give a presentation to the CTO where he explains what he does at the company, which apparently doesn't impress the new CTO, who tells him he's going to be reassigned to the engineering department. This makes my brother very unhappy, because it looks like he will have to actually work now. So in a later meeting the same day, my brother bad-mouths the CTO to a bunch of people, calling him a dipshit dumbass, etc. It gets back to the new CTO, who fires him. Next, he tries to get a job at one of those code academy things as an instructor. He makes it through many rounds of interviews, and they decide to hire him(!!). This particular code academy turns out to be a wholly-owned subsidiary of his former employer, and the new CTO hears that my brother is trying to work there, so he calls the company directly and tells them bad things about my brother. They rescind their offer letter. At this point, he has about 20k in savings, and then receives a pension buy-out from his former company for 10k. Because he has barely any friends and does nothing except play video games, he is able to live just outside of Manhattan for $1k a month (or so he says). He then decides to found his own video game company, because that's his 'true passion'. He spends a year working on his 'game', which is a Twitch-plays-Pokemon copycat for a different semi-popular game. A month ago he finally launches it, and has about 10 people logged on at any given moment. He considers this proof of his success, and passes out business cards saying he's CEO of his own game company, that he's living the dream, etc. He's down to about 10k in savings, and because of his work history and personality I think it's going to be very difficult to find a job. My poor mother has bailed him out of many fiascos in his life (failing out of college, paying his rent, giving him food money) and I'm deeply concerned that she is going to be bankrolling his video game business in a few months. I've convinced her not to pay his rent when he inevitably goes broke, but it's difficult to make her see what a total loser he is, and how his problems are completely his own fault.
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Apr 11, 2015 21:55
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Jastiger posted:You'd live like a king. Seattle is our second favorite city. Tons to do, safe, beautiful. But god drat, we own a nice house here with a yard. A smaller house in a shady neighborhood would be almost twice the cost, plus higher taxes and utilities. It's cool how everyone has the exact same wants as you.
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Apr 11, 2015 22:06
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My city is the best city and the only one really worth living in.
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Apr 11, 2015 22:12
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Investing in gold is bad with money. Investing in weird gold buyback schemes is even worse with money.http://www.reddit.com/r/personalfinance/comments/328sxb/i_am_22_years_old_and_just_lost_80_of_my_money_i/ posted:So I grew up in a typical middle-class family in North Germany. Since my birth, my parents started saving money every month and whenever I got some money for free (birthdays and stuff) I saved it on some bank-account.  I mean, it sucks for the dude who lost most of his money, but hopefully he's learned a lesson from all this.
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Apr 11, 2015 22:15
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I'm interviewing in San Francisco in two weeks and couldn't be happier to live in one of the worst rental markets in the country. Of course, since I don't work in tech, I won't be living in the city itself - the boom really has priced out of the middle class, used to be one could live in SF on 70k-ish a year pretty comfortably  Also dude your brother sounds like some guys I went to college with. They will never understand how their lack of social niceties holds them back because they see other developers with literal autism succeeding - difference is, the man with autism is a genius with algorithms/visualization/machine learning and is easy to corral into a comfy corner to work for 12 hours a day and you are a dime-a-dozen mediocre code monkey with a bad attitude.
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Apr 11, 2015 22:21
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Haifisch posted:
That's some impressive doublethink
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Apr 11, 2015 22:42
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I'm also saving money when I'm not spending it on things I don't need.
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Apr 11, 2015 22:44
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_areaman posted:My brother is not so smart with money. He worked as a software developer at a non-tech company in NYC, making decent money but nothing spectacular. The place was so poorly managed that over the 4 years he worked there, he maneuvered his position to be in a department where he was the only engineer, arranged his schedule so that he came in at 11, left at 4, skipped coming in at all on Thursdays, and barely produced any code. Can you even call yourself a "game company" if all you made is the mechanism that allows people to play a game that you're probably technically illegally running? EDIT: To contribute a bad with money decision to the thread, my Oculus Rift gets here Tuesday 
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Apr 11, 2015 22:56
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How far do people who work menial jobs in San Francisco have to commute? What happens to the service industry when no one can afford to live in the city?
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Apr 12, 2015 01:59
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Krispy Kareem posted:How far do people who work menial jobs in San Francisco have to commute? What happens to the service industry when no one can afford to live in the city? Mostly they commute from Oakland (which has driven up rental prices there, of course) on the BART. Also, people who are willing to live with roommates can find places for around 800-1200/month for a room that's a bit further from downtown, which obviously works better if you're single and don't have kids, but the minimum wage is something like $11 right now (I just looked it up and it goes to 12.25 next month), and going much higher in the next few years (the city recently passed a $15 minimum wage law that eventually also gets tied to inflation, iirc). Being a tipped employee is actually pretty decent money (comparatively speaking) since California doesn't exempt them from minimum wage laws, too. Colin Mockery fucked around with this message at 02:24 on Apr 12, 2015 |
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Apr 12, 2015 02:11
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Watch rent go up 10% in those apartments the next couple of months after they increase the minimum wage
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Apr 12, 2015 03:37
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BEHOLD: MY CAPE posted:Watch rent go up 10% in those apartments the next couple of months after they increase the minimum wage I don't know how the leases work when you're joining as a roommate onto an existing household, but a lot of older buildings are rent-controlled  .(That is a contributor to why the new buildings are all so much more expensive.)
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Apr 12, 2015 03:44
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Then they'll just do what all the other lovely landlords around SF do and find ways to evict current tenants so they can raise the rates.
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Apr 12, 2015 04:05
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BEHOLD: MY CAPE posted:Watch rent go up 10% in those apartments the next couple of months after they increase the minimum wage That will happen, but not due to the minimum wage increase.
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Apr 12, 2015 06:37
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MrKatharsis posted:You could triple my pay and I still wouldn't move from Seattle to Des Moines. Hey Des Moines is only like 10 miles away! http://en.wikipedia.org/wiki/Des_Moines,_Washington
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Apr 12, 2015 08:43
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If the minimum wage went up here it would be sweet for I have a mortgage.
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Apr 12, 2015 13:10
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This reddit post is like a Bad With Money Thread bingo card: https://np.reddit.com/r/personalfinance/comments/328lw6/27yrs_old_0_in_savings_wtf_am_i_doing_wrong/ quote:I'm 27 yrs old, $76K salary, and I still have $0 in savings. I don't understand this because I have no debts either. Then a reply quote:So what do you suggest, I sell my bitcoin immediately at a significant loss? If I do and if by next year the price doubles I would hate myself, and you for that matter. Slomo parachute account found, I guess.
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Apr 12, 2015 13:25
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Pompous Rhombus posted:This reddit post is like a Bad With Money Thread bingo card: Slomo wouldn't be caught dead in an apartment that cheap. Not baller enough by far.
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Apr 12, 2015 13:43
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Life Insurance savings account?  That sounds like a terrible place to keep money.edit  The guy wants 100k in his checking account. haha.
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Apr 12, 2015 13:50
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What the hell kind of life insurance charges a 27 year old $550/mo? Sounds scammy. From his responses he's one of those dudes that thinks you have to spend money to feel rich. The disparity between those two concepts will probably hit him around age 60. What I really don't understand is why people are still doing the bitcoin thing. It's pretty obvious that the ship has already sailed on that.
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Apr 12, 2015 13:51
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Well it's obviously the future dad.
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Apr 12, 2015 13:52
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What is a life insurance savings account? Is it a long term savings account, what happens if you die, what is the point of it?
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Apr 12, 2015 13:59
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I'm guessing its whole life insurance: http://en.wikipedia.org/wiki/Whole_life_insurance
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Apr 12, 2015 14:02
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Not a Children posted:Then they'll just do what all the other lovely landlords around SF do and find ways to evict current tenants so they can raise the rates. Unless their property taxes are reduced by rent control, there is a very strong incentive to do this.
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Apr 12, 2015 14:38
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Haha dumbass got conned by bitcoin and life insurance. And probably free loading friends as well for the alcohol and drugs. He is a honey pot sucker.
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Apr 12, 2015 14:49
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opengl128 posted:I'm guessing its whole life insurance: http://en.wikipedia.org/wiki/Whole_life_insurance There's also insurance where you get your premiums back at the end of the term. You pay a lot more for that option and you aren't paid interest for your 20 year loan to Mutual of Omaha, but I guess it's a way to protect your loved ones and get a sudden windfall when you get your premiums back. You're essentially gambling you don't die. But this fucker doesn't even have loved ones. Who the gently caress is the paying $550 a month to financially protect?
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Apr 12, 2015 16:20
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He's going to enjoy his life insurance later, from his post.
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Apr 12, 2015 16:33
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Krispy Kareem posted:Who the gently caress is he paying $550 a month to financially protect? The insurance broker 
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Apr 12, 2015 16:41
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Zool posted:Unless their property taxes are reduced by rent control, there is a very strong incentive to do this. In CA, property taxes are capped at 1% and reassessments don't happen on any regular schedule. In fact, my guess is that kicking everyone out and playing what ever tricks need to be played to end rent control is a sure fire way to get a reassessment.
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Apr 12, 2015 16:54
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MickeyFinn posted:In CA, property taxes are capped at 1% and reassessments don't happen on any regular schedule. In fact, my guess is that kicking everyone out and playing what ever tricks need to be played to end rent control is a sure fire way to get a reassessment. My perspective is admittedly biased as that of a small time landlord in a market without rent control - but my impression of rent control in the style of SF and NYC (excluding new construction and with strict rules that restrain rent increases, non renewals, and evictions) is that it primarily benefits a small number of long time tenants who have held out in the same units for many years and now live at a small fraction of market rent, and serves to keep a stock of older housing such as rooms and basement apartments that would otherwise be affordable vis a vis the rest of the market, off the market. I'm skeptical of the fundamental arguments behind rent control which are that landlords are able to extort unfair rent increases out of tenants because the transaction costs of moving are just too high. I may be in the minority but when I increase rent it is done thoughtfully with respect to comparable rents, inevitable increases in my tax and insurance expenses, and my willingness to seek a new tenant (which also involves significant transaction costs!). In my opinion a rent increase that a tenant voluntarily agrees to pay in exchange for renewal at the end of a lease contract is by definition a "fair" increase.
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Apr 12, 2015 18:19
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Krispy Kareem posted:There's also insurance where you get your premiums back at the end of the term. You pay a lot more for that option and you aren't paid interest for your 20 year loan to Mutual of Omaha, but I guess it's a way to protect your loved ones and get a sudden windfall when you get your premiums back. You're essentially gambling you don't die. I think this is what my dad has on us. Every 5 to 10 years, he reminds me that he has some life insurance on us that we will eventually see some sort of money back from since he'll just give us the money. I'm not too sure on it because I'd be dead if it paid out, so I'm not too interested. I believe it's only $5 a month, though. And he mentioned that he tried to get some for my nephew, but the insurance company doesn't offer it anymore.
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Apr 12, 2015 18:47
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BEHOLD: MY CAPE posted:My perspective is admittedly biased as that of a small time landlord in a market without rent control - but my impression of rent control in the style of SF and NYC (excluding new construction and with strict rules that restrain rent increases, non renewals, and evictions) is that it primarily benefits a small number of long time tenants who have held out in the same units for many years and now live at a small fraction of market rent, and serves to keep a stock of older housing such as rooms and basement apartments that would otherwise be affordable vis a vis the rest of the market, off the market. Zool said "[u]nless their property taxes are reduced by rent control, there is a very strong incentive to [kick rent controlled tenants out in SF in order to raise rates]." But CA property taxes don't work this way, as far as I know. The merits (or lack thereof) of rent control is a different issue for another thread.
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Apr 12, 2015 20:02
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Krispy Kareem posted:How far do people who work menial jobs in San Francisco have to commute? What happens to the service industry when no one can afford to live in the city? People are less willing to accept low wages for jobs in San Francisco, and wages rise in the service industry, along with prices.
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Apr 12, 2015 20:36
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He owns $10k of bitcoin and owes a friend $10k. What an arsehole.
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Apr 12, 2015 21:24
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Zool posted:Unless their property taxes are reduced by rent control, there is a very strong incentive to do this. This probably belongs more in the CA politics thread but yes, this is what's been happening and people are screaming bloody murder. (Except for the property tax part; CA doesn't reassess property taxes regularly for some dipshit reason or something (Prop 13).) The real kick in the teeth is that the last person who went to the media to publicly shame a landlord who tried to evict them turned out to be renting out her below-market apartment as a hotel on AirBnB at market rates (90/night).
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Apr 12, 2015 21:49
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Devian666 posted:He owns $10k of bitcoin and owes a friend $10k. What an arsehole. How much do you want to bet that he's already tried offering his friend $1-2 grand in buttcoins to settle the debt, under the justification "they'll be worth millions one day, so I'm actually doing YOU a favour!"
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Apr 12, 2015 22:50
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