|
blugu64 posted:Good luck waiting until you're 48 to buy a house. Like anyone in my generation could afford one before they're 48 anyway.
|
#
?
Jun 18, 2015 22:00
|
|
|
|
| # ? Jun 3, 2024 20:29 |
|
|
I bought my house at 39. I'm ahead of the curve.
|
|
#
?
Jun 18, 2015 22:21
|
|
|
I was 27 when I bought this house.
|
|
#
?
Jun 18, 2015 22:22
|
|
|
So my uncle who I always looked up to since I was a child, has become extremely bad with money. He used to be really good with money, because he has achieved a great career with just a high school education, invested smartly and he bought a house cheaply in a up and coming neighborhood when he was very young. However he's never has had any luck with women because he works all the time and is pretty special, but 5 years ago he got together with a 18 year old Russian violinist while he was 40. Since then his finances have went straight to poo poo, highlights include investing about 150,000 $ in some Russian oil company that went bankrupt, losing 30,000 $ in a few weeks with leverages in the stock market, moving all his assets over to Russia before the ruble collapsed, spending 200,000 $ for a shell of an apartment in Moscow before the sanctions began etc. He has also spoiled his girlfriend rotten with paying for master classes, violins, vacations, clothes etc for her while he works 100 hours overtime per month to support the lifestyle that she has grown accustomed to. It's just so loving sad to see him destroy what he has built up with so much hard work with such stupid gambles trying strike it rich.
|
|
#
?
Jun 18, 2015 22:41
|
|
|
Lord Tywin posted:So my uncle who I always looked up to since I was a child, has become extremely bad with money. He used to be really good with money, because he has achieved a great career with just a high school education, invested smartly and he bought a house cheaply in a up and coming neighborhood when he was very young. However he's never has had any luck with women because he works all the time and is pretty special, but 5 years ago he got together with a 18 year old Russian violinist while he was 40. Since then his finances have went straight to poo poo, highlights include investing about 150,000 $ in some Russian oil company that went bankrupt, losing 30,000 $ in a few weeks with leverages in the stock market, moving all his assets over to Russia before the ruble collapsed, spending 200,000 $ for a shell of an apartment in Moscow before the sanctions began etc. It sounds like she is playing him like a .... sucker
|
|
#
?
Jun 19, 2015 00:27
|
|
|
I'm a member of a local buy/sell/trade Facebook group, and I just saw a BWM event in the making. 18 year old girl and 19 year old dude get married and she initially posts they're looking for their first apartment to rent with a $600/month budget. She just posted again that they're now looking for a house to buy, and by "they" I mean "her husband" because she doesn't have a job, with the same $600/month budget. I'll be AMAZED if a couple kids right out of high school have any sort of down payment saved up, or if they can even get a mortgage without the bank laughing in their face or being financially raped with interest rates. A decent middle of the road house in a good neighborhood here goes for around $200,000, so they're going to get stuck with the shittiest of shitholes in a bad part of town if they insist on buying something just for the sake of buying a house. I touched the poop and kindly suggested they rent for a while first before making that kind of financial commitment and immediately got lambasted with people going  IT'S AN INVESTMENT!!!
|
|
#
?
Jun 19, 2015 02:48
|
|
|
darkwasthenight posted:I think the best option for that poor innocent soul is either joining the armed services or suicide. Is joining the military considered to be the second to last resort for people who have hit rock bottom and have nowhere else to go?
|
|
#
?
Jun 19, 2015 03:37
|
|
|
SkunkDuster posted:Is joining the military considered to be the second to last resort for people who have hit rock bottom and have nowhere else to go? Planning on killing yourself? Boy do we have a solution for you! We're looking for young people who no longer have a fear of death in the US Marine Corp.
|
|
#
?
Jun 19, 2015 03:57
|
|
|
http://hellogiggles.com/10-ridiculous-things-you-can-buy-for-10000/ Some notable ones: Diamond studded jeans ($10,000/pair), completely and honestly useless gold pills, and an $8,800 cocktail.
|
|
#
?
Jun 19, 2015 04:04
|
|
|
SkunkDuster posted:Is joining the military considered to be the second to last resort for people who have hit rock bottom and have nowhere else to go? If more than about 10% of the stories from the GiP Idiots thread are true, yes. I meant it more in the sense of never having to make a decision about their own lives again.
|
|
#
?
Jun 19, 2015 07:53
|
|
|
Space Gopher posted:Do you have any views on eugenics you'd like to share as well? Nope. Mocking Bird posted:How do you feel about structural inequality/unequal access to education I believe it exists to varying extents, and that since there is little point in complaining about it, that we should do our best to achieve. Mocking Bird posted:How do you feel about ... mistrust of the government/authority leading to things like stuffing money in mattresses? They can believe what they want and do what they want, they just need to accept the consequences of their actions. Gabriel Pope posted:I'm just laughing at the idea that reading finance textbooks (agony!) is a key step in developing good personal finance skills. Most people who lead financially sound lives have probably never cracked open a textbook on the subject, and plenty of people with degrees in it are terrible at managing their own finances. Guess you miss the part where I said reading personal finance textbooks is a *first* step. Similar to how elementary school is commonly the first step in schooling; doesn't mean it is the last step. moana posted:I got a book rec for you: Savage Inequalities by Jonathan Kozol. I think that all responsible citizens (except the intellectually disabled, which is a distinct minority) have an obligation to inform themselves about the society they live in before going on the internet and posting their dumbshit opinions. I have a pretty good idea of what your recommended book would be about. And I disagree with you. Little point in trying to convince each other on political ideology on the internet. And you are a dumbshit too. 
|
|
#
?
Jun 19, 2015 08:35
|
|
|
And just to counter this apparent image of me as an elitist rear end. My father repairs lifts for government housing, been doing it almost all his life. And my elder sister was the first person in our *extended* family to have went to college. I don't really get this anger against bootstrapping. I mean, I understand that we face challenges and unfairness in life. But are my family and I supposed to throw our hands up in defeat and say, screw it, we won't give it a try? Isn't fighting your way up what we are supposed to do?
|
|
#
?
Jun 19, 2015 09:05
|
|
|
John Smith posted:Isn't fighting your way up what we are supposed to do? I mean, not really. But okay.
|
|
#
?
Jun 19, 2015 09:08
|
|
|
Bootstrapping and trickle down effect are components of the just world fallacy.
|
|
#
?
Jun 19, 2015 09:11
|
|
|
Senf posted:I mean, not really. But okay. Why not? My family has been poor, even dirt poor from my understanding, but my parents don't talk about those days. And we are doing well now. And let me tell you, I sure as hell prefer doing well to being poor. Poverty is not a badge of honour. It is nothing to be proud of. Be rich, it is better.
|
|
#
?
Jun 19, 2015 09:13
|
|
|
John Smith posted:
What kind of university did you go to where finance means personal finance? I did a degree in finance at a world top 50 university and did not learn anything about personal finance. Your bootstraps argument is ridiculous and you should not be lecturing others on anything. If you grew up poor you should be more aware than anyone of the structural inequalities that exist. camgirl fangirl fucked around with this message at 09:34 on Jun 19, 2015 |
|
#
?
Jun 19, 2015 09:26
|
|
|
fineX posted:What kind of university did you go to where finance means personal finance? I did a degree in finance at a world top 50 university and did not learn anything about personal finance. Oh. Sorry to the earlier poster that I replied to. I went back and looked at my earlier post. It was I who made an error. Edit: My school offers personal finance modules, not just the traditional modules. John Smith fucked around with this message at 09:34 on Jun 19, 2015 |
|
#
?
Jun 19, 2015 09:31
|
|
|
One of my coworkers was taking about how when he buys a truck, the #1 consideration is that he puts no money down, no matter what. I was honestly shocked that dealers weren't falling overthemselves to finance a 45-60k truck on those terms.
|
|
#
?
Jun 19, 2015 09:54
|
|
|
John Smith posted:Why not? My family has been poor, even dirt poor from my understanding, but my parents don't talk about those days. And we are doing well now. And let me tell you, I sure as hell prefer doing well to being poor. I'm glad your family got lucky.
|
|
#
?
Jun 19, 2015 13:07
|
|
|
Street Horrrsing posted:One of my coworkers was taking about how when he buys a truck, the #1 consideration is that he puts no money down, no matter what. I was honestly shocked that dealers weren't falling overthemselves to finance a 45-60k truck on those terms. By saying that, could you ostensibly trick a salesman into giving you a huge discount on the price of the vehicle on the assumption that they'll gently caress you on interest, then just pay off most of it a week later?
|
|
#
?
Jun 19, 2015 13:09
|
|
|
Not a Children posted:By saying that, could you ostensibly trick a salesman into giving you a huge discount on the price of the vehicle on the assumption that they'll gently caress you on interest, then just pay off most of it a week later? Assuming there is no early payoff penalty, I see no reason you couldn't. I don't think most salesman are worried about the interest though, most of them get the loan through a lender. The reason they do things like "your payment per month" is just to get you to buy the car and get their commission. Could possibly be different for the shady used car lots with "buy here pay here" with repo-man enforcement, I have no idea as I've never bought a car from one.
|
|
#
?
Jun 19, 2015 13:14
|
|
|
Its astonishing that these people manage to remember to breathe.quote:I found out today my wages are being garnished on my student loans. I understand that they're forcing my employeer to pay directly on the loan. My question is what are my options? Am I able to get out of this? I only owe 5500 and I could pay it all but it would wipe out 80% of my bank account. Should I do that? quote:If you had money in the bank, why weren't you making your student loan payments?
|
|
#
?
Jun 19, 2015 13:16
|
|
|
ohgodwhat posted:I'm glad your family got lucky. It is called hard work. Studying hard and getting into a good State college in a useful major. Something you should encourage more of from young people, instead of telling them that it can't be helped and they should resign themselves to their fate.
|
|
#
?
Jun 19, 2015 13:53
|
|
|
It's not just about studying and working hard. A kid who has to take care of their siblings while their parents work a second job to keep them fed does not have the same opportunity to study that you did. A kid that has to beg on the street because their parents are junkies who spend everything they earn on crack is working very hard, but not toward anything that will give them marketable skills. A kid who has to worry about whether or not they get to eat that day probably won't give two shits about whether they'll be able to retire in 40 years. Nobody is saying these children should resign themselves to fate, but they sure as hell don't have odds on their side. All the encouragement in the world doesn't matter if you have to make sacrifices every day just to survive.
|
|
#
?
Jun 19, 2015 14:08
|
|
|
It's a combination of luck and talent and hard work. . You can be as hard working as you like, but if you are from a broke and abusive family and are in-and-out of foster care all your childhood, you'll probably not get rich. You can be born talented and into a well-off family, but if you piss away your time on video games and weed, you won't be a big success in business.
|
|
#
?
Jun 19, 2015 15:20
|
|
|
Hard work will maximize your chance of getting out of a bad situation, and I'm glad it worked for you, but you took the wrong lesson from it. Now you're convinced that everyone who is poor just isn't working hard enough. You are a right-wing talking point. The belief that everyone can be successful if they just work hard is packed full of false assumptions. I blamed that kid for his 2k debt because he was going to college and thought Best Buy was just going to give him thousands in video games for no reason. I don't blame people who have no savings because they're used to using it or losing it while they grew up in a poor family. I also don't blame people who get buried in CC debt because they went to an underperforming school they had no choice about and never learned the basic math needed to realize they were getting a bad deal. e: there's a documentary called Waiting for Superman I think you'd benefit from watching. Desuwa fucked around with this message at 15:50 on Jun 19, 2015 |
|
#
?
Jun 19, 2015 15:48
|
|
|
John Smith posted:It is called hard work. Studying hard and getting into a good State college in a useful major. Jesus, do I really have to post a Buzzfeed article to explain this to you?
|
|
#
?
Jun 19, 2015 16:11
|
|
|
BarbarianElephant posted:It's a combination of luck and talent and hard work. . You can be as hard working as you like, but if you are from a broke and abusive family and are in-and-out of foster care all your childhood, you'll probably not get rich. You can be born talented and into a well-off family, but if you piss away your time on video games and weed, you won't be a big success in business. Yeah this applies to the guy who thought his credit card was free money that he won.
|
|
#
?
Jun 19, 2015 16:38
|
|
|
John Smith posted:Something you should encourage more of from young people, instead of telling them that it can't be helped and they should resign themselves to their fate. I really really hope you change your mind, because we need people at the top who are compassionate, who don't think that poor people should commit suicide if they can't work hard enough.
|
|
#
?
Jun 19, 2015 16:47
|
|
|
ohgodwhat posted:I'm glad your family got lucky. Luck is the intersection of skills and opportunity. Unless you mean winning the lottery type of lucky.
|
|
#
?
Jun 19, 2015 17:17
|
|
|
nickutz posted:Luck is the intersection of skills and opportunity. Having the ability to learn skills and opportunity is luck. Something you're born with, who you're born to, where you're born, etc etc. I'm in debt $23,000 due to an unlucky appendectomy when the economy hit rock bottom (~15% unemployment in my city). There wasn't a whole lot I could do to change that. I was lucky enough to have the skills to better my situation, but not everyone will. It doesn't necessarily mean they're not working hard enough.
|
|
#
?
Jun 19, 2015 17:23
|
|
|
More stories, less whatever this is. Do it or I'm going to buy a truck with no money down to tow my horses around that I got when I won horse store credit.
|
|
#
?
Jun 19, 2015 17:23
|
|
|
blugu64 posted:More stories, less whatever this is. Do it or I'm going to buy a truck with no money down to tow my horses around that I got when I won horse store credit. Well I posted this: http://hellogiggles.com/10-ridiculous-things-you-can-buy-for-10000/ Paying $500 to poop gold is pretty bad with money no matter how you look at it.
|
|
#
?
Jun 19, 2015 17:25
|
|
|
Some friends from San Diego are driving the whole day to go to this MLM convention thing. Last I heard they signed up for a $495 course to show them how to get started in "the field", that is to say the field of selling things to friends and family. I don't even want to know what the convention cost them. Also, I am bad with money, I just wasted $55 on a half marathon registration because a friend guilted me into it. I haven't run in a year and the race is in a month and a half.
|
|
#
?
Jun 19, 2015 17:31
|
|
|
Harry posted:Yeah this applies to the guy who thought his credit card was free money that he won. Having the brains of a turnip is certainly a disadvantage in life. Not everyone is born sharp and canny! People who are sharp tend to be pretty impatient with those who are dense, saying "Why can't they use their *brains*?" but as far as I can tell, some people are just thick. Not mentally handicapped or anything, just dense. I was on the subway with a friend who was studying advertising, once, and an ad caught my eye. It was for some dreadful payday loan place. Only an idiot would have fallen for the gaudy design and obvious con-job. I asked my friend about it, and I don't remember her exact words, but they were something like "If it looks like only an idiot would fall for it, it is aimed at idiots."
|
|
#
?
Jun 19, 2015 17:34
|
|
|
poo poo. I didn't said it was easy, did I? My question to you is, what does whining about it achieve? I understand and ***fully*** accept that there are challenges and unfairness in life. My question is, why must that mean that we should give up? You people's message is a sick and twisted message, that is socially destructive. Because there is unfairness, we should therefore not try to achieve because we will probably fail anyway. And we should accept this mentality in others. Not sure if this will be considered racist, but I am Asian and I disagree with your bullshit. Not everyone can make it really big, but we can all do better. If you can only achieve a moderate outcome, at least it is better than what you had. My father only finished elementary school, and life was tough raising us. My elder sister became the first person in our ***extended*** family to go to college, and a fine State college at that. The rest of us followed in her footsteps. [Btw, I do acknowledge that there are special cases. Some kids are born with certain issues, and there is no point blaming them. I am speaking to the broad majority. I do not mean literally everyone can achieve] moana posted:I really really hope you change your mind, because we need people at the top who are compassionate, who don't think that poor people should commit suicide if they can't work hard enough. I didn't suggest they commit suicide if they don't work hard. I said if they cannot be bothered at life (come on, thinking that there is "free" money???). And I am nobody special. I don't think I will make it to the top either (if you mean the 1%). I am just a normal person. I just disagree with you. Edit: Ok. Sorry for derailing, but I was just angered at the pushback. For content, I was bad with money. The teachers and students were given a chance to invest in my High School's student-ran snacks stall. It had minimal competition (monopoly, sort of) and was nearly a sure thing. Each person was restricted to a small allocation, and must redeem it at year-end to give others a chance. I didn't register to invest. It turned in a huge profit. John Smith fucked around with this message at 17:46 on Jun 19, 2015 |
|
#
?
Jun 19, 2015 17:37
|
|
|
John Smith posted:poo poo. I didn't said it was easy, did I? My question to you is, what does whining about it achieve? I understand and ***fully*** accept that there are challenges and unfairness in life. My question is, why must that mean that we should give up? You people's message is a sick and twisted message, that is socially destructive. Because there is unfairness, we should therefore not try to achieve because we will probably fail anyway. And we should accept this mentality in others.
|
|
#
?
Jun 19, 2015 17:49
|
|
|
moana posted:Also, I am bad with money, I just wasted $55 on a half marathon registration because a friend guilted me into it. I haven't run in a year and the race is in a month and a half. This is Good With Money. An exercise goal and a firm date to hit it is great for your mental, emotional, and physical health. $55 for a half marathon is not too expensive, I've spent more than that to run them before.
|
|
#
?
Jun 19, 2015 17:55
|
|
|
^Psh, bad with money. Just go on google maps, find a distance of 13,1 miles and get to runnin.moana posted:Some friends from San Diego are driving the whole day to go to this MLM convention thing. Last I heard they signed up for a $495 course to show them how to get started in "the field", that is to say the field of selling things to friends and family. I don't even want to know what the convention cost them. To be fair, if it's San Diego, it might not be an MLM, there have been a bevy of those "I'm gonna show you how to flip a house!" things going up that have all sorts of crazy schemes that Trump will put his name on. The housing market out here is making a shitload of bad with money stories. Like "I bought a house with a shack so I can live in the shack and rent out the house to afford the mortgage" bad with money.
|
|
#
?
Jun 19, 2015 17:57
|
|
|
|
| # ? Jun 3, 2024 20:29 |
|
|
John Smith posted:poo poo. I didn't said it was easy, did I? My question to you is, what does whining about it achieve? I understand and ***fully*** accept that there are challenges and unfairness in life. My question is, why must that mean that we should give up? You people's message is a sick and twisted message, that is socially destructive. Because there is unfairness, we should therefore not try to achieve because we will probably fail anyway. And we should accept this mentality in others. Does "whining" in your opinion include all of political social progress? We've come a long way in eliminating societal ills and leveling the playing field and not one of those solutions involved gumption or elbow grease or whatever. edit bad with money: my parents just put in tile they don't like solely to increase the value of their house
|
|
#
?
Jun 19, 2015 18:07
|
|
