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CombatInformatiker posted:
This is the first time in ages I've laughed when I moused over the spoiler. I was genuinely wondering what was wrong in her life. e: Almost forgot: approximately 1/3 of New Zealanders will still have a mortgage at 65. http://www.stuff.co.nz/business/money/72598973/a-third-of-kiwis-will-have-a-mortgage-at-65 There are some typical BWM quotes from the survey. quote:Mortgage rates are at their lowest point since the 1960s, but research by Colmar Brunton for BNZ, found more than 60 per cent of home owners were not using this opportunity to pay off their home loans faster. Devian666 fucked around with this message at 23:20 on Oct 3, 2015 |
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Oct 3, 2015 23:04
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Horses. 
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silvergoose posted:Alimony or child support? Never knew those words meant different things until now.
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Oct 4, 2015 00:38
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Devian666 posted:This is the first time in ages I've laughed when I moused over the spoiler. I was genuinely wondering what was wrong in her life. "Why would I pay extra towards my mortgage? Rates are low. So, debt is cheap." Because the best time to start paying down your mortgage is when rates go back up, and your cost of borrowing increases! Silly me!  Thesaurus posted:My favorite part is that a "pretty decent job in her field" with her degree only earns $34,000 and takes her a total of 75 hours a week... I'm not even going to do the hourly on that. Teacher? That would explain the high number of at home hours. quote:Additionally, she's wanting to go back to graduate school next year and complete a master's degree in a field that pays about the same as her undergraduate field (hint: neither pays well). melon cat fucked around with this message at 06:14 on Oct 4, 2015 |
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Oct 4, 2015 01:28
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melon cat posted:Heh, funny that you mention that. People here are saying the same thing. Actually, when rates are low there is an alternate strategy to paying extra on the mortgage, when rates are in the 2-3% range. Invest the extra amount you would have paid towards the mortgage instead and then when your term is due, make a lump sum contribution to the principal on renewal. This may or may not be applicable to you depending on the particulars of mortgage regulation in your country.
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Oct 4, 2015 02:02
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melon cat posted:Heh, funny that you mention that. People here are saying the same thing. I know it is crazy. Mantle has a good point but the problem is people aren't using an investment strategy here. The problem in NZ is that people aren't investing the money instead so it would be a decent strategy if the money wasn't used on consumerism. So this should be a good time to pay off debt and interest rates are between 4.35% to 7% so investing is a borderline strategy for most. There are also too many people that have too much mortgage and too little equity. Those in that position would do well to boost their payments to get to 20% equity to access the cheapest interest rates. Still too many people think their house is their retirement fund and that it's all they'll need. Having a $1m house and you won't finish paying it off until you are 75-80 isn't going to work out for most people.
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Oct 4, 2015 02:42
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melon cat posted:Heh, funny that you mention that. People here are saying the same thing. If they're new grads, that means they're young enough that they've been told all their lives that they can't even flip burgers without a degree. If they get out of school with a bachelor's and have a poo poo job/can't find a job, it's not unreasonable to think that they might assume they need more education to get a better job.
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Oct 4, 2015 03:04
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NancyPants posted:If they're new grads, that means they're young enough that they've been told all their lives that they can't even flip burgers without a degree. If they get out of school with a bachelor's and have a poo poo job/can't find a job, it's not unreasonable to think that they might assume they need more education to get a better job. If you're in a bad recession getting education can be a good way out. Unfortunately if you already have an unsustainable amount of debt just from your education it removes choices. When I studied I decided to go on to get another degree to get a career in a field with a lot of demand and a shortage of people. Fortunately I hadn't borrowed much and had lived a very frugal student life. I don't see that as much of an option in the US. The student loans should be made interest free so that people can get the education they need to get a job, that and colleges should be prosecuted for the criminal fees they charge. e: I'm sure some students would just study a basket weaving PhD but that's part of the risk.
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Oct 4, 2015 03:19
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melon cat posted:I don't know what it is about some people (particularly new grads who aren't satisfied with their employment situation) who think that the best way to spend their time is with more unnecessary schooling. As if spending an extra ten thousand dollars upward on graduate degree will magically make their problems disappear. I guess they just want to crawl back into the protective womb of academia as the world zooms by. I've known a lot of people who've done this, and they're never better off afterwards. Eh, my sister did exactly this: finished with a Bachelor's in international business, applied for a buttload of jobs and didn't get any, so did a Master's in International Relations (a poli-sci degree, basically nothing to do with business) and then landed an international business job right after finishing.  Thanks to qualifications inflation that sort of stuff is becoming closer to the norm.
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Oct 4, 2015 03:48
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I got my Masters because I had such bad luck at job hunting, and yes, also because academia was familiar and comforting and at least arguably beneficial. It worked out for me and the degree will continue to help me and will likely be worth it in the long run, but I was an outlier. It's a stupid path, a huge risk, and won't magically erase all your un-hireable qualities.
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Oct 4, 2015 23:51
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Chinaman7000 posted:I got my Masters because I had such bad luck at job hunting, and yes, also because academia was familiar and comforting and at least arguably beneficial. It worked out for me and the degree will continue to help me and will likely be worth it in the long run, but I was an outlier. It's a stupid path, a huge risk, and won't magically erase all your un-hireable qualities. Quite often people can switch to another field with a 1 to 2 year course so the high level degrees aren't so critical. It's a less risk and less cost path.
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Oct 4, 2015 23:55
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NancyPants posted:If they're new grads, that means they're young enough that they've been told all their lives that they can't even flip burgers without a degree. If they get out of school with a bachelor's and have a poo poo job/can't find a job, it's not unreasonable to think that they might assume they need more education to get a better job. The lesson? It's not a good idea to get a grad degree "just because". Research your field to see if it's necessary to begin with, and only spend the extra money on it if you're 100% sure that the job you're looking for requires it. melon cat fucked around with this message at 07:36 on Oct 5, 2015 |
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Oct 5, 2015 07:24
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https://www.youtube.com/watch?v=_tV6L-wzfHY 300k for getting a degree in Chinese medicine is as bad as it sounds, right?
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Oct 5, 2015 07:47
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MrOnBicycle posted:https://www.youtube.com/watch?v=_tV6L-wzfHY
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Oct 5, 2015 08:15
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melon cat posted:Heck, I work with a guy who has a Masters Degree in Graphic Design (yes, it exists)eld to see if it's necessary to begin with, and only spend the extra money on it if you're 100% sure that the job you're looking for requires it. To be fair, this is something you'd typically need if you wanted to teach in graphic design  Getting a PhD in graphic design, though...
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Oct 5, 2015 12:10
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MrOnBicycle posted:https://www.youtube.com/watch?v=_tV6L-wzfHY Oh my god 
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Oct 5, 2015 13:31
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melon cat posted:I should've clarified my point further- there are some instances where getting a graduate degree might help, but those usually involve specific fields with specialized graduate degrees. But I've known several people who graduated with a degree in say, History, Poli Sci, Geography, or Nutrition Science (just to name a few examples), then jump into a Masters program just because they didn't get any callbacks after undergrad. In the end, they became over-qualified and sometimes end up leaving the the grad degree off of their resume completely. So, that's 1-2 years of lost income and tacking an extra $20,000 worth of debt onto their existing student debt with nothing worthwhile to show for it. Heck, I work with a guy who has a Masters Degree in Graphic Design (yes, it exists) and he's doing the same job as others in his department who have a diploma from a local community college. There's a lot of bullshit "Masters" programs out there. I agree dude, you're preaching to the choir. I'm saying that there has been an unreasonable push for everyone to get as much degree as they possibly can without regard to whether it will make them more marketable, and to some extent a current generation of grads has been taught they're not getting jobs due to lack of letters after their name when in reality they have no marketable skills regardless of how many degrees they have.
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Oct 5, 2015 15:05
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melon cat posted:I don't know what it is about some people (particularly new grads who aren't satisfied with their employment situation) who think that the best way to spend their time is with more unnecessary schooling. As if spending an extra ten thousand dollars upward on a graduate degree will magically make their problems disappear. I guess they just want to crawl back into the protective womb of academia as the world zooms by. I've known a lot of people who've done this, and they're never better off afterwards. I'm not sure they even think it's the best way to spend their time, it's just "easy" and at least makes them seem like they are doing something, more like a stalling tactic to me. Facing the world is hard and I don't want to do it, so I'll put it off for another year or two so I can say MS instead of BS or whatever. It's one thing if you actually use it to change fields, but lots of people don't do that. I don't know what magic a company thinks another year of schooling does but I personally don't treat masters candidates any differently than I would bachelors candidates when looking at resumes.
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Oct 5, 2015 15:15
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Jeffrey of YOSPOS posted:I don't know what magic a company thinks another year of schooling does Most companies don't. I'd say just a many view it as a negative versus a positive, outside of a select few fields.
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Oct 5, 2015 15:49
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MrOnBicycle posted:300k for getting a degree in Chinese medicine is as bad as it sounds, right? Finally a degree that the "STEM OR NOTHING" and "ARTS ARE IMPORTANT" people can all agree is completely worthless.
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Oct 5, 2015 16:28
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MrOnBicycle posted:https://www.youtube.com/watch?v=_tV6L-wzfHY It costs a lot for a pound of powdered rhino horn.
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Oct 5, 2015 18:13
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I had brunch with my friend yesterday, and he was very emotional about the fact that his family has forbidden him to fly home to Ohio to see his sister, who's just been hospitalized for a very treatable and survivable form of leukemia. I was appalled, until the "why" started to come out. So my friend has been unable to work for a few months after an elective surgical procedure had complications. His dad has been supporting him during this time. OK, it's not outrageous that he didn't have enough saved up to live without an income for an extended time. But this comes shortly after he was unexpectedly forced to move, an expense he also handled with the help of his dad. (He also chose to move to a 1BR in a new building in midtown Manhattan, for which he told me at the time that his parents [mom is recently deceased] would be helping on the rent.) So my friend's bank account could handle neither the move nor the loss of income, despite the fact that he's a highly paid professional in New York City. (Not as highly paid as he was before--last year he was promoted to the #2 spot in his department, and a few months later he stepped down and took a pay cut because it was too much stress.) He could, however, afford a long vacation in SE Asia earlier this year, and tickets to some Broadway shows, and lots of restaurants and takeout, and new furniture for his new place, and yarn and supplies for more knitting and needlepoint projects that he'll never finish, etc. The edict wasn't "you aren't welcome around your family right now," it was "we are not going to tolerate you buying a plane ticket and extending your time away from work even longer when you, a grown man in his forties with a career, are tens of thousands of dollars in debt to your newly widowed, still not retired father." He was shocked that they wouldn't just buy him the plane ticket. He wasn't thrilled with my response, but I did pick up the brunch tab. And to his credit, he also repaid me the $20 I sent him last month so his rent check wouldn't bounce.
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Oct 5, 2015 18:44
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I was thinking well, that's disappointing, but not that strange among people from well-off families who are in their mid-to-late twen-quote:you, a grown man in his forties with a career 
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Oct 5, 2015 19:00
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MrOnBicycle posted:https://www.youtube.com/watch?v=_tV6L-wzfHY The funny part of that is that for $300k you and 7 of your friends could all go to China and become real MDs.
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Oct 5, 2015 19:24
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canyoneer posted:The funny part of that is that for $300k you and 7 of your friends could all go to China and become real MDs. That and everyone I know who has done chinese massage that includes chinese medicine all charge a high hourly rate. It's madness to clock up $300k. e: Also I'm watching a video by a guy making $400k per month online. That's clearly the best way to pay off the degree that you'll never use. Devian666 fucked around with this message at 19:46 on Oct 5, 2015 |
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Oct 5, 2015 19:42
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Devian666 posted:e: Also I'm watching a video by a guy making $400k per month online. That's clearly the best way to pay off the degree that you'll never use. What's his one weird trick?
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Oct 5, 2015 20:22
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Dr. Eldarion posted:What's his one weird trick? His one weird trick is systematically building a drop shipping style business but using amazon instead of building his own site. One weird trick of doing work and building up multiple product lines, advertising, taking high quality photos and competing. You know all those work things you do to make money instead of being a lazy bum. He also has a separate software business for filtering amazon from a seller perspective to find opportunities, so he makes money from software as well. Again this one weird trick of doing work to provide something useful that is worth money.
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Oct 5, 2015 21:23
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Jeffrey of YOSPOS posted:I'm not sure they even think it's the best way to spend their time, it's just "easy" and at least makes them seem like they are doing something, more like a stalling tactic to me. I remember talking with an older lady who was aghast that I wasn't going to go back to get my masters in education when I only had a half a year left of classes to finish the degree. "You'll never regret finishing your education!" she said. That's the mindset all around us, without any thought of ROI or even how valuable the degree is in the first place. My undergraduate coursework taught me a million times more than either of my masters' programs, it really is awful how bad some higher ed programs can be.
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Oct 6, 2015 04:18
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NancyPants posted:I agree dude, you're preaching to the choir. I'm saying that there has been an unreasonable push for everyone to get as much degree as they possibly can without regard to whether it will make them more marketable, and to some extent a current generation of grads has been taught they're not getting jobs due to lack of letters after their name when in reality they have no marketable skills regardless of how many degrees they have. Part of it is that it's easier to get into advanced degrees simply because your merit actually matters as a major factor, unlike the entry-level job market where the only factor in finding employment is how well you can hustle and how many people you know.
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Oct 6, 2015 04:33
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yes because we all know that networking and selling are valueless and in fact indicate a lack of merit
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Oct 6, 2015 04:55
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enraged_camel posted:Sorry, I don't buy this at all. Filing for bankruptcy to discharge hundreds of thousands of dollars of debt is categorically different than using tax-sheltered accounts to save for retirement. The former is an unintended consequence of the rules and policies of the system. No it isn't; bankruptcy exists to allow you to do just that.
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Oct 6, 2015 17:14
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http://www.usatoday.com/story/sports/2015/10/06/draftkings-pulls-advertising-espn-amid-questions-inside-trading/73476434/ Why does a gambling company allow their employees to participate or be eligible for winnings? (because they are stupid and their commercials are annoying)
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Oct 6, 2015 23:41
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canyoneer posted:http://www.usatoday.com/story/sports/2015/10/06/draftkings-pulls-advertising-espn-amid-questions-inside-trading/73476434/ For what is probably the 5th derail in 3 days-- that's not even close to the shadiest thing I've seen or heard of employees or companies doing. I also believe if people knew how hosed they were getting on every single axis by betting websites, they'd still gamble so I just shrug at that news.
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Oct 6, 2015 23:59
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RICHUNCLEPENNYBAGS posted:No it isn't; bankruptcy exists to allow you to do just that. Bankruptcy exists to rescue individuals out of unforeseen difficulties in paying their financial obligations. You're going to have a hard time getting your debt discharged if it comes out that you were planning to do it all along, and knew from the start that you wouldn't be able to pay all the debt you accumulated.
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Oct 7, 2015 00:09
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canyoneer posted:http://www.usatoday.com/story/sports/2015/10/06/draftkings-pulls-advertising-espn-amid-questions-inside-trading/73476434/ They don't -- on the same site. This is about employees using inside information on site A to gain an edge on site B. (Still incredibly shady and unfair, mind.) Daily fantasy is even harder for a rube to win at than online poker. If people had any idea exactly what their competition was they would stick to buying lotto tickets.
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Oct 7, 2015 00:21
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What exactly is their competition?
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Oct 7, 2015 04:43
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Hot Dog Day #91 posted:What exactly is their competition? Everybody else playing the game. Because of the way the game is structured (and I'm generalizing a bit here), you don't want to pick the objectively best players, you want to pick the best players that nobody else is picking that week. If the dude works at
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Oct 7, 2015 04:49
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It seems to me like the answer is releasing that information to everyone rather than trying to keep it secure - right now it's like a stock exchange that doesn't publish what is being bought and sold at what prices.
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Oct 7, 2015 04:54
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Hot Dog Day #91 posted:What exactly is their competition? There is a guy I know in NYC who setup a fund and is receiving capital who bets on these and has a ton of researchers and predictive modeling in house.
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Oct 7, 2015 13:31
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enraged_camel posted:Bankruptcy exists to rescue individuals out of unforeseen difficulties in paying their financial obligations. Actually it's a pretty straightforward process where they look at your assets vs. debt
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Oct 7, 2015 14:58
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Puppy Galaxy posted:Actually it's a pretty straightforward process where they look at your assets vs. debt Unless you incurred those debts by fraud or malice. Doesn't come up often for ch7 individuals but it's a thing that exists and sometimes happens.
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Oct 7, 2015 15:24
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