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He also simply can't believe that his school would ever misrepresent post-graduation statistics. 99% placement in his never-stated industry sounds fishy to me, nevermind basing career planning on your school's post-graduation stat claims.
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Apr 17, 2015 16:47
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Krispy Kareem posted:EDIT: and now the newest Buicks are batshit crazy for capacitive touch buttons. A capacitive touch hazard light button, which gets accidentally pressed when you're trying to change climate settings. Were the old hazard buttons somehow too difficult to press? Did old people insist on the easiest way to activate their flashers? One less physical button to manufacture and install. Good with money for GM. I'm sure they'll never lose market share for making pieces of poorly designed, unreliable poo poo for decades, nosiree.
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Apr 17, 2015 16:50
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Law schools use every trick in the book to make their numbers look better, why would MBA programs be any different? 99% placement is an absurdly high figure if you're not in a T5 program.
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Apr 17, 2015 16:51
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This guy is going to be an unemployed failure after MBA school, no question about it. Take it from me, a person on the internet with an already maxed out Roth IRA. NOW IF YOU'LL EXCUSE ME, I need an oil change for my sensible used domestic automobile. Pssh, these poors and their 2015 BMWs everywhere you look!
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Apr 17, 2015 17:33
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Haifisch posted:He also simply can't believe that his school would ever misrepresent post-graduation statistics. 99% placement in his never-stated industry sounds fishy to me, nevermind basing career planning on your school's post-graduation stat claims. Yeah, there are 150k+ MBAs graduating in the US every year. If this guy is dumb enough to withdraw his 401(k) for walking-around money during school, he's probably not bright enough/connected enough to stand out.
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Apr 17, 2015 17:47
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canyoneer posted:Yeah, there are 150k+ MBAs graduating in the US every year. If this guy is dumb enough to withdraw his 401(k) for walking-around money during school, he's probably not bright enough/connected enough to stand out. Or tells someone what he did and they think he's a moron because of it.
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Apr 17, 2015 17:54
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canyoneer posted:Yeah, there are 150k+ MBAs graduating in the US every year. If this guy is dumb enough to withdraw his 401(k) for walking-around money during school, he's probably not bright enough/connected enough to stand out. B-b-b-ut Networking!
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Apr 17, 2015 17:57
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Guy takes 10% of his credit limit every month and invests it via Manufactured Spending (turning your credit card charges into a form where you can cash it out)quote:invest about 10% of my credit limit in index funds and also get points every time I MS. If you value points, Credit cards effectively have a negative interest rate. When asked if he's ever had a downturn when his bill is due and freaked out. quote:No, the money I invest can be carried entirely on my 0% cards. So even if I am hit with the worst S&P500 historical loss (40%) and I lose my MS methods, I'll still have a few years to pay up. Or more likely, I will apply for more 0% cards by then and keep refinancing. Or more accurately, I'll keep debt pyramiding Don't the fees eat into all your profits? quote:I use Schwab's commission-free funds for all short term investments. If I have to sell them, my only "fee" is the 1-cent spread per share. This usually comes to $0.01/$50= 0.02%. Compared to the expected 9% annual returns, the spread is pretty negligible.
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Apr 17, 2015 18:13
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Using leverage in the stock market is risky, but it is a good bet. On average, he would come out ahead. Of course on the tail end of the distribution, he comes out bankrupt. I wouldn't do it, but if MS wasn't a pain in the rear end, I might buy something safer, like short term bond funds.
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Apr 17, 2015 18:44
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Haifisch posted:He also simply can't believe that his school would ever misrepresent post-graduation statistics. 99% placement in his never-stated industry sounds fishy to me, nevermind basing career planning on your school's post-graduation stat claims. He alludes to being an aerospace engineer in the reddit link. Those companies will typically pay for an MBA while you're working. I know enough people who have done it, and they say that it's actually very easy. So I'm not sure why he isn't getting his current employer to pay for school. Anyway, being an EE with an MBA is very marketable and he will definitely get a job, but I don't believe his raise will be as drastic as he thinks. It will certainly raise his ceiling in a big corporation, and in 10 years he could definitely be making bank. As a young guy in aerospace he'll be very much ok, in addition to having the EE MBA combo. Sorry to burst your schadenfreude thread! His plan is not optimal - it's like he's choosing to go backward for no reason, but he will be fine; just not as fine as he could be.
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Apr 17, 2015 21:58
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Nail Rat posted:Well he said he'd still have a 6 month emergency fund after taking all of it from his emergency fund, and it's either use "2-3" of 9 months of emergency fund or 10% of taxable investments, not both. This tells me he's got healthy retirement accounts, plus well over 50k in taxable investments, plus a six month emergency fund after paying for this trip. I appreciate all the safari help, goons. To clarify some details I left out, the estimated cost of this trip would be in the 5-6k range it sounds like, based on airfare and the travel company's package itself. I wouldn't have actually had to dip into my emergency fund since 2 ESPP lots would have come up between now and the trip which I plan on selling right away anyway and would have had it covered or close to it-- my retirement accounts & HSA are all maxing out this year regardless so I wouldnt' be putting myself in a precarious position by doing it. But, I would be putting myself in an unexpected position - using my ESPP to that end was not part of my stated goals for 2015. After posting I gave it some more thought and called my mom last night to decline on the trip. As much as I'd love to go and wouldn't mind traveling with my family at all, the fact that it was a sudden thing that came up with a reasonably near deadline to lock it in made me very uncomfortable spending that amount of money. I'd rather find a better deal on a trip and plan vacation around it over a longer time period, then suddenly declare I'M TAKING A VACATION ON THESE DATES and then screw up my other financial plans to accommodate it. There are big trips to other places I'd like to prioritize instead over the next few years anyway.
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Apr 17, 2015 22:41
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That's a decent price if you can afford it. But as long as the trips you want to take are cooler than an African safari, go take the other trips. I have way more fun and flexibility alone than when I travel with family.
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Apr 18, 2015 01:14
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District Selectman posted:He alludes to being an aerospace engineer in the reddit link. Those companies will typically pay for an MBA while you're working. I know enough people who have done it, and they say that it's actually very easy. So I'm not sure why he isn't getting his current employer to pay for school. Because they probably wouldn't pay for a $150k degree at the school of his choosing, they likely would for a more reasonably priced one at a place he doesn't want to go to.
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Apr 18, 2015 05:52
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Zool posted:Using leverage in the stock market is risky, but it is a good bet. On average, he would come out ahead. Of course on the tail end of the distribution, he comes out bankrupt. I wouldn't do it, but if MS wasn't a pain in the rear end, I might buy something safer, like short term bond funds. Howard Marks gave this great saying regarding coming out ahead on average "Never forget the 6 foot tall man who drowns while crossing a river that is on average 5 foot deep."
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Apr 18, 2015 07:07
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SpelledBackwards posted:the estimated cost of this trip would be in the 5-6k range poo poo, it sounds like you really want to go. I would if I were in your shoes, you can afford it. Just try to take it easy on trips for a year or two to help recuperate.
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Apr 18, 2015 07:21
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I drive a buick and its great, it doesnt look cool but it was really affordable with low mileage when i bought it, probably driven by an old lady, and its super spacious and reliable.
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Apr 18, 2015 13:08
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Having a traditional Afghan wedding is bad with moneyquote:KABUL, Afghanistan — When Shafiqullah walked into his wedding celebration, he was surprised to find 600 extra people in the room, none of whom he recognized. quote:Ahmad Walid Sultani, who owns a stationery store, said he hopes to someday print invitations for his own wedding, not just for his customers’ weddings. He has been engaged for seven long years while saving money “for all the extravagant expenses needed for a wedding.” quote:“I need to work hard and for a long time before I make enough money to marry someone,” Fayaz, 19, who sells bootleg DVDs in a traffic circle. He figured a wedding would cost him north of $8,500. 
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Apr 18, 2015 15:04
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Mojo Threepwood posted:Having a traditional Afghan wedding is bad with money Paywalled article (Bad With Money)
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Apr 18, 2015 15:15
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Nocheez posted:poo poo, it sounds like you really want to go. I would if I were in your shoes, you can afford it. Just try to take it easy on trips for a year or two to help recuperate. Just because I could afford it, doesn't mean I should. The problem I had was it was short notice for an otherwise unplanned expense. That is ok for an emergency situation or finding a screaming deal on something, but I don't think this tour package qualified as either, and it's not a lifelong dream of mine to go, either. It all amounts to "that would be nice, but isn't that important to me right now". My mom just retired and is spending a lot on bucket list type of travel - she and my dad just got back from a 2 week trip to the Galapagos a month ago. I don't feel quite that sense of urgency, and at 30 I have many more years to properly plan for similar trips. SpelledBackwards fucked around with this message at 18:59 on Apr 18, 2015 |
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Apr 18, 2015 18:37
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Rudager posted:Because they probably wouldn't pay for a $150k degree at the school of his choosing, they likely would for a more reasonably priced one at a place he doesn't want to go to. Where I work, if you can get in, they'll pay up to $25k a year for tuition anywhere that will accept you. The advantage to being part time (in addition to continuing to earn income) is you keep your tuition closer to the $25k limit per year. I know of two people who attended Wharton part time, and that's gotta be among the most expensive in the country. In those two particular cases, I also believe they granted a waiver to cover all expenses. So if you're highly regarded enough, the tuition limit may not even apply. Also, while one of those two makes $300k+, he would have been making that regardless, unless his current position was contingent on finishing the MBA, and the other guy is an engineer just like me.
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Apr 18, 2015 20:21
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$25k is a pretty high figure. To compare, I work at an engineering firm with about 1000 employees, and the most they'll approve is $7500/year for graduate studies, and that's only if the partners approve of your course of study and the particular school. Funding for MBAs is exceptionally rare, and I think reserved in particular for people who are already fast-tracked to management. Exceptions can be and are made to employees that show potential, but for the most part it's on the employee to make the case for how in particular the classes will directly benefit the company. At my last job, a small contractor for the DoD, the education benefits were plain abysmal, amounting to about $1100/semester -- barely enough to cover half of one class.
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Apr 18, 2015 21:50
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The engineers from Dell who are in my MBA cohort get $6,000 a year from the company, so $25,000 is amazingly good.
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Apr 19, 2015 01:14
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That's interesting. I've never asked anyone outside of my company what they get. I guess it's better than most? It never seemed great to me, because my office is full of people who are old enough to remember when not only was school free, but you were PAID to go to class 8 hours a week!
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Apr 19, 2015 16:32
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We get $5000 a year, reimbursed based upon grades, and the degree has to be approved by management.
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Apr 19, 2015 16:51
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My company dropped tuition reimbursement from 7.5 to 2.5k in 2013 - I could get slightly under one part time term of public MBA paid for per year! This came along with dropping the ESPP from 15% to 5% discount. Fuckers.
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Apr 19, 2015 22:51
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The Mandingo posted:We get $5000 a year, reimbursed based upon grades, and the degree has to be approved by management. Same deal here. It's pretty pitiful and you'd get $2300 of it as a tax credit anyway (IIRC, $2000 then 10% of the balance). The remaining $2700 doesn't even come close to making up for lost wages as an hourly employee. Not that I'm too proud to take it, obviously.
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Apr 20, 2015 04:05
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Mojo Threepwood posted:Having a traditional Afghan wedding is bad with money I don't think it's an Urban Legend that people go to Dubai as workers and not come back at all.....
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Apr 20, 2015 06:09
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Mojo Threepwood posted:Having a traditional Afghan wedding is bad with money An Indian coworker of mine took off for an entire week for his Cousin's wedding. I thought that was overkill until he described the typical wedding for their culture.
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Apr 20, 2015 11:26
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Renegret posted:An Indian coworker of mine took off for an entire week for his Cousin's wedding. I thought that was overkill until he described the typical wedding for their culture. Yeah, Indian weddings are something else. For those with no Indian friends, they're week long events that involve the entire village the couple/the couples parents/the couples grandparents are from, I'm not an exaggerating
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Apr 20, 2015 11:45
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An Indian co-worker of mine has just returned from TWO weeks of wedding leave (his own.)
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Apr 20, 2015 12:04
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SiGmA_X posted:My company dropped tuition reimbursement from 7.5 to 2.5k in 2013 - I could get slightly under one part time term of public MBA paid for per year! Mine is similar ($4500 a year, so like, part time MBA at best) but it turns out you can only get the full amount if you go to school full time. Which I can't, because I'm working full time at the job that offers said benefit. It gets cut drastically for part time, which beyond irritates me. So I would end up paying out of pocket no matter what, so I just don't see the worth right now.
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Apr 20, 2015 13:53
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I have an Indian coworker who's about 62 or so, and makes a good amount of money, real smart guy. He's not going to fully retire though - I asked him why, and he said "I have too many family members. Too many parties! Too many weddings. My god I have so many nieces and nephews...I will never retire you know." But he was smiling when he said it, I think it's just a cultural thing. Dude is ok with working forever and dropping $10k on some party for a relative. Him and his wife go to Europe and India like three times a year too. Bad with money, good with life!
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Apr 20, 2015 14:26
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http://distractify.com/beth-buczynski/smart-things-to-do-at-30/?ts_pid=2 (lovely clickbait listicle, sorry) "Buy a house, it'll be nearly paid for by the time you're 50" It's very simple! Regardless of your market/situation, just buy it, and everything will work itself out! 
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Apr 20, 2015 14:32
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Pakistani weddings--and engagements!--are also big to-dos. I have a Pakistani coworker who got engaged and was expected to plan a gigantic party for hundreds of people like two weekends later. It was incredibly stressful and expensive, although her parents helped out with the money and the planning. Two months after the engagement celebration the couple broke things off permanently. All that money and stress down the drain 
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Apr 20, 2015 15:56
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drat Bananas posted:just buy it, and everything will work itself out! America.txt
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Apr 20, 2015 16:42
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Duckman2008 posted:Mine is similar ($4500 a year, so like, part time MBA at best) but it turns out you can only get the full amount if you go to school full time. Which I can't, because I'm working full time at the job that offers said benefit. It gets cut drastically for part time, which beyond irritates me. So I would end up paying out of pocket no matter what, so I just don't see the worth right now. Most "part time" MBAs are actually a full-time number of credit hours, if that helps.
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Apr 20, 2015 16:44
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Sixgun Strumpet posted:I spend $15,000 on an old pistol that I bought on auction because I was bidding on it after a screwed up flight that should have been at 12:40PM was actually AM resulted in me not having slept for 27 hours. I had to sell some poo poo to pay for it, I'm sad I had to sell poo poo to pay for it, also I have no money now.
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Apr 21, 2015 02:18
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To be fair, it's a pretty neat gun with a lot of history behind it. I'm pretty sure he could get most/all of his money back if he wanted to sell it.
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Apr 21, 2015 02:57
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I have thought about cross posting TFR stories to this thread before but it's just too easy and I actually like most of the posters there. MrKatharsis fucked around with this message at 01:04 on Aug 18, 2015 |
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Apr 21, 2015 05:48
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Craptacular posted:To be fair, it's a pretty neat gun with a lot of history behind it. I'm pretty sure he could get most/all of his money back if he wanted to sell it. Holy poo poo. With a story and documentation like that, it's an actual collectors item rather than some speculatory moneysink. Depends on what he sold and what his definition of broke is though, as far as the bad with money bit goes.
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Apr 21, 2015 05:50
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