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Gabriel Pope posted:Does accepting and using the gift certificates affect your legal ability to sue the deadbeat pizza place for the wages they owe you? I'd sorely be tempted to order 40 pizzas at a really inconvenient time right before quitting. Hand them out to 40 friends/family members and have them each order a single pizza right before the dinner rush on your day off. She could probably use the gift certificates and argue distress (I was hungry and this is all I had). But let's face it, she's not getting paid no matter what she does. And if the government forced the owner to pay it'd be many months from now and she wouldn't be working there anymore. And isn't free pizza like one of the perks of working at a pizzeria? He's paying her with food she is already eating every night. However, the owner is probably not paying the IRS and Social Security Administration in pizza certificates. So he could get fined or maybe audited for paying employees under the table. I mean, if I was an IRS agent and I heard someone got paid in pizza I'd probably look at that just because that sounds hilarious.
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Sep 17, 2015 20:25
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Krispy Kareem posted:She could probably use the gift certificates and argue distress (I was hungry and this is all I had). But let's face it, she's not getting paid no matter what she does. And if the government forced the owner to pay it'd be many months from now and she wouldn't be working there anymore. And isn't free pizza like one of the perks of working at a pizzeria? He's paying her with food she is already eating every night. A guy who makes someone work overtime and then gives them gift certificates instead of a paycheck is probably not giving them free anything. But yeah, any legal recourse is more about trying to get this fuckery shut down than actually getting money in her pocket.
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Sep 17, 2015 20:43
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She should sue the rear end out of her employer. It would get really bad for the employer. Besides debates on how much pizza is too much and overloading pizza places with calls, here is why it is a really, really bad idea for her to get paid in pizza. Truck System tl;dr Forget about the IRS and not having benefits, if your employer pays in something he himself issues you are all ways of screwed. In this case, if she simply doesn't redeem all the pizza vouchers she's essentially gifting her employer labor. And that's without getting started on the fact that she gets paid in something that won't be accepted anywhere else. Johnny Cash famously commented on the truck system. https://www.youtube.com/watch?v=tfp2O9ADwGk
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Sep 17, 2015 21:33
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Really guys? No, she needs to file a complaint with the department of labor because that is crazy illegal. They will get her her back pay as well as fine the employer, part of which will get paid to her eventually.
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Sep 17, 2015 21:40
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MAKE NO BABBYS posted:Really guys? No, she needs to file a complaint with the department of labor because that is crazy illegal. They will get her her back pay as well as fine the employer, part of which will get paid to her eventually. Part of the fine as well? So, what you're saying is that getting paid in pizza vouchers is long-term good with money?
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Sep 17, 2015 22:41
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I'm so excited this hasn't been posted yet. The dumbest article ever written: http://elitedaily.com/life/savings-20s-something-wrong/1214445/quote:I don’t have any savings, but I also don’t have any wants.
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Sep 17, 2015 22:59
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Big fan of the comments on that article. Basically just a bunch of people rushing in to pat themselves on the back (which I guess is mostly the point of this thread, too).
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Sep 17, 2015 23:11
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Blinkman987 posted:Part of the fine as well? So, what you're saying is that getting paid in pizza vouchers is long-term good with money? No, but at least here in CA, the DoL fines employers for every day that pay checks are late/incorrect beyond the deadline and part of that fine eventually goes to the employees eventually.
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Sep 17, 2015 23:13
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quote:We’re taking our time growing up, refusing to be shackled by mortgages and diapers. We’re not trying to live with safety nets; we’re trying to live on the edge. Mortgages and diapers aren't safety nets, well unless you poo poo yourself a lot. It does sound like a potential thread title. I'm sure they're living on the edge by buying beard wax and listening to a portable record player.
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Sep 17, 2015 23:16
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That pizza story is so obviously fake.
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Sep 17, 2015 23:32
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Comrade Flynn posted:I'm so excited this hasn't been posted yet. The dumbest article ever written: http://elitedaily.com/life/savings-20s-something-wrong/1214445/ This is amazing and I was expecting it to be an article from The Onion. The best part was the proverbial slap in the face to the authors parents letting them know that they are so obviously dumb and being in your twenties inherently makes you more wise than they.
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Sep 17, 2015 23:57
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Realtalk: If my wife and I didn't scrimp and save during our 20s I wouldn't have had the cushion with which I have been able to start a very successful business which now let me work my own hours and travel the world. On the flip side, I guess I missed out getting drunk at clubs.
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Sep 18, 2015 00:01
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Comrade Flynn posted:I'm so excited this hasn't been posted yet. The dumbest article ever written: http://elitedaily.com/life/savings-20s-something-wrong/1214445/ "I don't care about money" - Someone with rich parents And I like that "seeing the inside of a taxi" is considered luxurious. Walking? Driving myself? Stuff, old boy! Have my man pull around his finest motorcarriage, a yellow 2006 Crown Victoria. 
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Sep 18, 2015 00:16
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I can't even count the number of times I've gone to a club, stumbled home drunk, and woke up to a 5 figure raise from the girl I networked (sloppily grinded on) with.
Electrical Fire fucked around with this message at 00:23 on Sep 18, 2015 |
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Sep 18, 2015 00:19
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Comrade Flynn posted:I'm so excited this hasn't been posted yet. The dumbest article ever written: http://elitedaily.com/life/savings-20s-something-wrong/1214445/ Yes please
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Sep 18, 2015 00:40
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Lol, that article reminds me of the Sphinx from Mystery Men. Don't waste your time owning assets, because in time the assets will own you. Rent doesn't pay, so why bother paying rent? Real estate is a hedge against inflation, but if you inflate your hedges, your estate will never be real.
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Sep 18, 2015 00:56
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quote:I was trying to save, which meant trying not to eat. I wasn’t going out with friends, had yet to go to a club and had never seen the inside of a taxi. I wish her friend had explained a person can do this sometimes, but not all the time, and still lead a fulfilling life. For some, they will never go to a club or ride in a taxi and also feel fulfilled because people value different things. Dispensing random, no-accountability advice to people I've met in their 20s, I've told a few people of high intelligence (and families ready to at least let them back into their old room at home should they fail) that they should just bet on themselves. This usually came up when people were debating whether or not to extend a backpacking trip another month, not questioning how to spend a decade. A person's 20s is when they're likely going to have the least amount of money in life, so why not have some fun when it's likely that you'll have a bigger cushion later? So, there's no reason to freak out that someone in their first career-job isn't putting in the full 5.5k into a roth IRA. But, unfortunately that article is so full of stupid that I would struggle to explain this nuanced approach to money to someone who enthusiastically read it and shared it on Facebook. Edit: What's the percentage of self-congratulating people commenting in that article who fail to mention the significant amount of money their parents gave them? 100%? Blinkman987 fucked around with this message at 01:20 on Sep 18, 2015 |
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Sep 18, 2015 01:10
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Electrical Fire posted:I can't even count the number of times I've gone to a club, stumbled home drunk, and woke up to a 5 figure raise from the girl I networked (sloppily grinded on) with. That part of the article amused me and you've summed it up well. I spent years at clubs and gigs having fun. I spent too much on drinking but had a blast. I still paid off my student loan and saved enough money to launch my business without borrowing. I don't think how I lived was great with money but I managed to save and party. I'm waiting for a follow up article to tell people to max out their credit cards because who cares about retirement. e: the comment about networking just reminds me of alcoholics justifying their drinking. Devian666 fucked around with this message at 02:43 on Sep 18, 2015 |
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Sep 18, 2015 02:38
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moana posted:Real estate is a hedge against inflation, but if you inflate your hedges, your estate will never be real. New thread title right here
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Sep 18, 2015 04:44
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moana posted:Lol, that article reminds me of the Sphinx from Mystery Men. Hmmm...are you sure you don't mean The Spleen?
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Sep 18, 2015 04:47
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canyoneer posted:"I don't care about money" - Someone with rich parents Reminds me of this: Your Rich Friend Who Travels All the Time
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Sep 18, 2015 05:41
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All this "spend now, worry later" is predicated on the idea that you can only do cool, fun stuff that costs money when you're young, whereas when you're 40+ you'll be content to work-tv-sleep all day because all old people are boring and literally unable to understand the concept of fun
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Sep 18, 2015 14:36
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I think having a safety net, along with a modest retirement plan to be both cool and fun 
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Sep 18, 2015 15:38
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"Don't save money. Make more money."
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Sep 18, 2015 17:25
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enraged_camel posted:"Don't save money. Make more money." It almost kind of makes sense in that part of your life (early 20's into your 30's) generally sees pretty good income growth as you go from lovely McJobs to real jobs out of college and start working your way up. You literally can out earn your spending habits. For awhile. Then you have kids. Essentially it's great advice if you have no family obligations and figured out a way to stay 25 forever. So it's good advice for vampires, but only as long as they got a marketable degree and avoided student loan debt.
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Sep 18, 2015 18:09
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Not a Children posted:All this "spend now, worry later" is predicated on the idea that you can only do cool, fun stuff that costs money when you're young, whereas when you're 40+ you'll be content to work-tv-sleep all day because all old people are boring and literally unable to understand the concept of fun Seeing my parents in their late 40s and early 50s was actually a big wakeup call to me that that era could either be the best in my life or the worst depending on whether I make reasonable decisions now. I think I naively assumed as you got older you'd be less able/interested in adventure, but I really respect them and they are trely hitting their primes of confidence, professional achievement, and self-actualization now. I'm now one of those people that looks forward to aging, or at least doesn't fear or dislike the idea. I started to shift around 27, when I got married. Life is long and can be either lovely or awesome, and that's almost entirely up to me.
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Sep 18, 2015 18:22
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Similarly, people who tell children that childhood is the best part of their lives must have had really soulcrushing 20s themselves, and set their kids up to continue being children well into their 30s.
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Sep 18, 2015 18:35
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BossRighteous posted:Seeing my parents in their late 40s and early 50s was actually a big wakeup call to me that that era could either be the best in my life or the worst depending on whether I make reasonable decisions now. I think I naively assumed as you got older you'd be less able/interested in adventure, but I really respect them and they are trely hitting their primes of confidence, professional achievement, and self-actualization now. I'm now one of those people that looks forward to aging, or at least doesn't fear or dislike the idea. I started to shift around 27, when I got married. Life is long and can be either lovely or awesome, and that's almost entirely up to me. It's odd because I feel a lot older than I did when I was 20, but apparently your internal sense of aging actually stops at some point. Baring infirmity or disease - you don't necessarily feel old even if you are. At age 87 my grandmother told me she felt 50. And she was not a good 87 by any stretch (she didn't make it to 88). So yeah, getting old isn't as bad as it seems - but it's even better when you're old and have money.
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Sep 18, 2015 18:36
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There's a balance between living a self-imposed pauper lifestyle in the name of saving and partying at maximum YOLO levels every night. Anyone who advocates one extreme or the other is not worth listening to. Obviously more income makes it easier (and more income should be a career goal in your 20s), but a balance can be achieved at most non-poverty income levels.
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Sep 18, 2015 18:45
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Being cash-poor is expensive as hell and you will get a lot more bang for your buck when you've got healthy savings to fall back on, even when you're expecting rapid income growth. Plus, there's more to life than overpriced drinks--if you're not saving you'll never be able to afford big ticket expenses except with credit, which will erode your spending power even more. Saved money doesn't disappear down a black hole, either. You can always blow it later when you start earning the big bucks. You literally get to have your cake and eat it too.
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Sep 18, 2015 18:58
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From age 35 to 50, Americans save, on average, a TOTAL of $30,000 for retirement. Less than they saved from 22 to 34, less than they save from 51 to 65. lovely! And everyone at work says "I can't save right now because I'm early in my career. I'll just save a lot more, later"
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Sep 18, 2015 19:09
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GoGoGadgetChris posted:From age 35 to 50, Americans save, on average, a TOTAL of $30,000 for retirement. Less than they saved from 22 to 34, less than they save from 51 to 65. lovely! Well, I guess at least I'm doing something right then.
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Sep 18, 2015 19:09
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MORE BAD WITH MONEY, LESS DERAIL! SMS, can we get derail bans back? https://www.reddit.com/r/personalfinance/comments/3lfz8y/how_does_one_recover_from_a_car_repossession/ quote:Throw away for reasons, but as the title says I am very curious about how one recovers from getting their car repossessed. That happened to me yesterday morning when I woke up and did not find my car outside where it was suppose to be. I'm not going to sit here and make up excuses I got behind on my bills and was barely scraping by just to stay afloat with everything. About a year ago I recklessly bought a car I thought I could afford, which yesterday was the day I finally realized that I no longer could. My question for you guys, is how can I pick myself back up from this? I'm very stressed and cannot stop beating myself up over this and just feel like a complete disappointment. I have called my car finance company and they said that the repossession paperwork hasn't been finalized yet and I would need to call on Monday to see if they have made a decision yet (either re-instating my current loan or completely taking the car). This is the first time I have ever had anything from me repossessed. I appreciate any advice. quote:This isn't an answer for OP, but I have a similar question related to repossession (cars, houses, etc.). SiGmA_X fucked around with this message at 19:40 on Sep 18, 2015 |
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Sep 18, 2015 19:12
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GoGoGadgetChris posted:From age 35 to 50, Americans save, on average, a TOTAL of $30,000 for retirement. Less than they saved from 22 to 34, less than they save from 51 to 65. lovely! It's pretty terrifying reading about what the average mid-career American has saved for retirement. I'm 28 and have (a lot) more saved than your average 50 year old. Social Security and Medicare are literally going to keep most retirement-aged people out of poverty (exactly what they were designed for), and yet the average American rails against SS/Medicare as a government scam. At least until they are eligible for the programs, and then it's "keep your government hands off my SS/Medicare..." So much irony it hurts.
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Sep 18, 2015 19:36
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Are there any good BWM-endorsed retirement calculators out there? The compounding interest part makes it difficult to do back of the napkin estimates and the online calculators I've seen leave a lot to be desired. The retirement calculator at CNN Monday thinks I'm falling short. Okay, so how much do I need? $4.8 million. Hmmm, I think the algorithm is a little off.
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Sep 18, 2015 19:48
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Krispy Kareem posted:Are there any good BWM-endorsed retirement calculators out there? The compounding interest part makes it difficult to do back of the napkin estimates and the online calculators I've seen leave a lot to be desired. That's probably a decent estimate depending on how old you are now. If you are retiring say 30 years from now, $4.8M is like $2M of today's dollars assuming 3% inflation.
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Sep 18, 2015 20:35
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http://www.firecalc.com/ Not the prettiest, but one of the most powerful and informative. It back-tests your expenses vs. assets against historical time periods and gives you a rough idea of whether you'd have gone broke or not. Obviously past performance doesn't guarantee anything about the future, but it's an okay indicator for this sort of thing. The big flaw that a lot of people make when calculating their "number" for retirement is that in retirement you need enough income to replace your expenses, not your whole income. If you make 100k/yr and save 40% of your income, then you'd only need to have ~60k/yr in income from your retirement assets, not 100k/yr. That's a bit of a simplification that overlooks inflation, taxes, different lifestyles, etc. but hopefully you get the gist of it. But even $4.8M doesn't sound out of this world if you're looking 25-30 years out and live in an higher COL urban area. Inflation is a bitch. Just looked up how the CNN Money calculator works: quote:First, we determine what your income will be at the time you retire by growing your current income at an annual rate of 3.8% (the inflation rate of 2.3%, plus the salary growth rate of 1.5%). We then assume you can live comfortably off of 85% of your pre-retirement income. So if you earn $100,000 the year you retire, we estimate you will need $85,000 during the first year of retirement. For each subsequent year, we increase your income need by 2.3% to keep up with inflation. We then factor in Social Security by subtracting your estimated benefits (more on that below) since that income will reduce the amount you will need to save. Assuming 85% of today's income as retirement expenses sounds REALLY high, but I guess if you're the average American saving 15% or less of your income then maybe it's not too far off. Also assuming 3.8% annual income growth sounds too generous for the average American. The whole CNN calculator seems to be making some really bad assumptions and focusing on the wrong numbers. They're focusing way too much on the income side of the equation, when the important number is the expenses side. If you have a savings rate more in the 30-50% range like a good BFCer then that magic retirement number is going to shrink considerably. To discuss further you might want to head on over to the Long-Term Investing and Retirement Savings thread. Guinness fucked around with this message at 20:56 on Sep 18, 2015 |
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Sep 18, 2015 20:38
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Krispy Kareem posted:The retirement calculator at CNN Monday thinks I'm falling short. Okay, so how much do I need? $4.8 million. Hmmm, I think the algorithm is a little off. I just checked it out. It doesn't let you put your savings rate above 25%.
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Sep 18, 2015 20:41
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Rurutia posted:I just checked it out. It doesn't let you put your savings rate above 25%.  (that's terrible)
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Sep 18, 2015 20:44
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SiGmA_X posted:MORE BAD WITH MONEY, LESS DERAIL! I dunno if you ask me this thread is more entertaining when it's full of derails rather than just being a Reddit r/pf reposting station
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Sep 18, 2015 21:17
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