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Guest2553 posted:I've personally never heard it in that context before, learned something new today. With RE, it has been a very common term for market value vs loan balance. Not technically correct, but very much common and I imagine most people in the USA would agree with it being mkt value vs loan balance. E: I've also never heard anyone between 15~92yo in the USA be confused by this term within the last 8 years, either. I too learn something new every day!
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Nov 11, 2015 21:30
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SiGmA_X posted:With RE, it has been a very common term for market value vs loan balance. Not technically correct, but very much common and I imagine most people in the USA would agree with it being mkt value vs loan balance. So if someone bought a house with a 50% down payment, and sold it a day later for half what they paid, you and everyone else on earth should consider them to have broken even?
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Nov 11, 2015 21:53
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Droo posted:So if someone bought a house with a 50% down payment, and sold it a day later for half what they paid, you and everyone else on earth should consider them to have broken even?
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Nov 11, 2015 22:26
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il serpente cosmico posted:Supposedly some institutions require it, and some don't. Vanguard doesn't. It's basically a way to limit liability. The firm accepting the money has no real incentive to require it, as the prospect of obtaining your business outweighs the incredibly low likelihood of fraud. The firm giving up the money has no real incentive not to require it. Giving you an extra hoop to jump through will prevent a certain amount of people from leaving the firm, and giving away a bunch of money has no upside in terms of accepting the risk of fraud. I help transfer IRAs out of other brokerages and into accounts at brokerages that we manage. All we do is have the client sign new account paperwork if they're transferring and our brokerages handle the rest. Not going to pretend I'm an expert at this but I have never heard of a medallion signature being required to roll over an IRA. Speak with Vanguard, they should be the ones handling the account transfer once you send in your new account paperwork. Let them deal with your old brokerage. Edit: These have been for accounts with 7 figures btw. Transferring between two financial institutions shouldn't be that difficult. cumshitter fucked around with this message at 23:48 on Nov 11, 2015 |
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Nov 11, 2015 23:45
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cumshitter posted:I help transfer IRAs out of other brokerages and into accounts at brokerages that we manage. All we do is have the client sign new account paperwork if they're transferring and our brokerages handle the rest. Well that's good to hear. I've already talked to both sides and sent in the signed paperwork, so hopefully it goes smoothly.
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Nov 12, 2015 00:02
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cumshitter posted:I help transfer IRAs out of other brokerages and into accounts at brokerages that we manage. All we do is have the client sign new account paperwork if they're transferring and our brokerages handle the rest. I had to get one for a modestly sized beneficiary IRA. I basically handed it to the people at my broker's office and said "here, you deal with this" and never heard anything else about it.
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Nov 12, 2015 00:17
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Droo posted:So if someone bought a house with a 50% down payment, and sold it a day later for half what they paid, you and everyone else on earth should consider them to have broken even? I'm an accountant, I figure a penny under the purchase price is underwater. I even think closing costs should be discussed in here somewhere but I don't think *most* people do that.
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Nov 12, 2015 02:13
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https://www.reddit.com/r/PersonalFinanceCanada/comments/3sgyoh/was_it_smart_of_me_to_negotiate_this_job_offer/ Company offers employment at 52k Redditor counters with offer to work for 40k Company accepts offer
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Nov 12, 2015 02:47
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Mantle posted:https://www.reddit.com/r/PersonalFinanceCanada/comments/3sgyoh/was_it_smart_of_me_to_negotiate_this_job_offer/  whyI think this one goes in the BWM thread Hall of Fame
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Nov 12, 2015 03:00
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Mantle posted:https://www.reddit.com/r/PersonalFinanceCanada/comments/3sgyoh/was_it_smart_of_me_to_negotiate_this_job_offer/ Just gotta stick out this "sales rep" gig for another 30 years and I'm loving set. fake edit: on a re-read, I literally lol'ed about the concerns about his salary impacting the company's bottom line
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Nov 12, 2015 03:07
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Mantle posted:https://www.reddit.com/r/PersonalFinanceCanada/comments/3sgyoh/was_it_smart_of_me_to_negotiate_this_job_offer/ A sales rep that expects to be at a company for 20 years is a sales rep I want to do business with (because if they're that naive they'll sell to me at cost because I'll make it up to them on the next sale.)
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Nov 12, 2015 03:07
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yeah but my dad worked for the same company for 30 years there's no way they'll lay me off for no reason
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Nov 12, 2015 03:15
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pig slut lisa posted:
haha this is what happens when you tell dumb people that "compound interest is the most powerful force in the universe"
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Nov 12, 2015 03:47
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Man, I'll be taking that company to the cleaners as they yell "dammit, the savvy guy who negotiated his salary down really outfoxed us and continues to do so."
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Nov 12, 2015 03:49
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Jeffrey of YOSPOS posted:haha this is what happens when you tell dumb people that "compound interest is the most powerful force in the universe" Most upvoted post says he'll be $30-$40k behind at best. To be honest if a job applicant tried to negotiate their pay down I wouldn't hire them, they'd be clearly too stupid to employ.
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Nov 12, 2015 04:00
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Use a throwaway account because you know it's a stupid decision that will mark your glorious reddit account forever as a moron, but also because clearly no company would ever recognize you if the post went viral. The number of people who negotiate their salary down is far too many to pick a person out of the facts posted alone.
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Nov 12, 2015 04:03
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if only someone had told him that the most powerful force in the universe is asking your employer for more money
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Nov 12, 2015 04:07
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If it's real, and it could be if the person who made the hiring decision was also not the brightest bulb, it's the company who is really BWM in that exchange. The cost of dealing with such a stupid employee (lower productivity, probably), eventually having to get rid of him (incompetence or having a really abrasive attitude since he has something to prove), and later finding a replacement (lost productivity while no one is doing his job and then the costs of hiring again) for him is going to outweigh any tiny savings in salary. I'd be worried about the management of a company who accepts someone at a lower salary than the initial offer.
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Nov 12, 2015 04:16
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Devian666 posted:Most upvoted post says he'll be $30-$40k behind at best. To be honest if a job applicant tried to negotiate their pay down I wouldn't hire them, they'd be clearly too stupid to employ. Especially as a sales rep. How do you hire a sales rep that can't even negotiate their own salary?
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Nov 12, 2015 08:25
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Rudager posted:Especially as a sales rep. He did; didn't you see how he totally hosed the company over with his diabolical plan? It's almost like the guy who asked to be paid in rice grains on the chessboard!
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Nov 12, 2015 10:40
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mobby_6kl posted:He did; didn't you see how he totally hosed the company over with his diabolical plan? It's almost like the guy who asked to be paid in rice grains on the chessboard! In real life, that guy will probably be beheaded by the King for his cheek.
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Nov 12, 2015 13:54
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I wonder how on Earth this guy though this would work out. They'll probably stick to the agreement, then cut him as soon as his salary is posed to rise above the market rate. Kind of smacks of the sovereign citizen BS, as if he thinks he's found some magic spell that will allow him to rise above standard financial practice.
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Nov 12, 2015 15:55
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Not a Children posted:I wonder how on Earth this guy though this would work out. They'll probably stick to the agreement, then cut him as soon as his salary is posed to rise above the market rate. Yeah but 5% annual raises does not really rise above the market rate when you account for inflation and experience. ~2% annual increases in wages does not create runaway salary growth.
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Nov 12, 2015 16:00
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Mantle posted:https://www.reddit.com/r/PersonalFinanceCanada/comments/3sgyoh/was_it_smart_of_me_to_negotiate_this_job_offer/ He's like the kid who gets another kid in an armbar on the playground and the other kid is all monotone "oh no, whatever will i do now this is inescapable and i am truly doomed."
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Nov 12, 2015 16:01
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I feel like he's the sort of guy where even if he accepts this weird 40k offer and then proceeds to blow their minds with how good of an employee he is, they'd offer him a greater than five percent raise and he'd say "uh uh uh! Are you trying to break our contract? Too late, suckers, you'll be regretting this moment in twenty years!"
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Nov 12, 2015 17:00
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Mantle posted:https://www.reddit.com/r/PersonalFinanceCanada/comments/3sgyoh/was_it_smart_of_me_to_negotiate_this_job_offer/ Yeah, as a sales person? No loving way I'd hire them. I don't know what he'd be trying to sell but what kind of hosed-up schemes would they do to sell products? "Well see here Huge Important Customer Composing 30% of our Entire Bottom Line, we'll actually pay you to use our product for 3 years... at which point if you want to keep using it you'll have to pay us slightly over market rate, which will slowly increase over time!" ... "Yes, of course you'll be able to cancel the contract at any time, renegotiate, go with one of our competitors, etc." ... "Guess who just signed a 4-year locked-in contract!"  vvvv Worse - Peter is at least trying to get it for less. Uncle Enzo fucked around with this message at 19:07 on Nov 12, 2015 |
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Nov 12, 2015 17:57
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Mantle posted:https://www.reddit.com/r/PersonalFinanceCanada/comments/3sgyoh/was_it_smart_of_me_to_negotiate_this_job_offer/ It's a real life Peter Griffin. https://www.youtube.com/watch?v=JCcV5sVi5NM
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Nov 12, 2015 18:56
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BEHOLD: MY CAPE posted:Yeah but 5% annual raises does not really rise above the market rate when you account for inflation and experience. ~2% annual increases in wages does not create runaway salary growth. Annual raises for white collar employees are usually closer to 2-3%. Inflation and a bit more, if you're lucky. I mean a 5% annual raise would be great, but not great enough to take a 10k cut the first year, what the gently caress. And I bet there's a clause specifying that he needs to meet performance goals to get the raise... He's about to discover what a performance review means in the corporate world.
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Nov 13, 2015 00:48
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FrozenVent posted:Annual raises for white collar employees are usually closer to 2-3%. Inflation and a bit more, if you're lucky. If I had employed his strategy with my first job out of college ("computer programmer," 12 years ago), I'd be making less than half of what I do now.
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Nov 13, 2015 02:11
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I would never ever hire a salesperson who is a total retard when it comes to negotiating his own loving salary. He may be Bad With Money, but his company is also Bad With Hiring. The 12k per year they "save" will gently caress them many times over.
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Nov 13, 2015 04:21
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Being an idiot with math does not equate to being a poo poo salesmen. IMO they are not related, if they were then lots of math majors would be millionaires. They probably looked at his past history at other companies and saw he could sale at least averagely, considered the cost and savings and hired him. He wouldnt have been given an offer if he wasnt the best candidate, they're getting him at a discount price and all he has to do is sell.
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Nov 13, 2015 06:41
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From: https://www.reddit.com/r/personalfinance/comments/3sk4g1/my_car_was_repossessed_yesterday_bank_wants_1700/quote:So I am 3 payments behind on my car, now am no longer in possession of the car, and will somehow have to come up with $1700 to get my car back and reinstate the loan... However, I don't really want to reinstate the loan. The interest rate is over 17%. The car will need about $4000 in repairs/maintenance over the next year, not including the $2000 I have already spent on it this year. My monthly payment is a quarter of my monthly earnings, and I really cannot afford it. Start getting familiar with bus routes and schedules, maybe? My favorite reply: quote:This happened to me. They sold the car for well under what it was worth and sent me a bill for the rest. After 7 years it was gone and now my credit is perfect. Credit's perfect, bro. 
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Nov 13, 2015 11:09
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I keep buying games with an empty bank account and Amazon doesn't care!quote:So I have my Amazon account set up with direct debit, they don't care if you are broke, everything just goes through, I'm pretty much all out and I just bought Rise of the Tomb Raider for 70€.
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Nov 13, 2015 21:04
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quote:I always get my poo poo together when it matters, it has always been like this, with school, when it was time looking for a job, holding said job 5 years now, finishing my apprenticeship, I was never really very dedicated, but when it matters I always come through. He's going to pull through guys. nothing to see here.
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Nov 13, 2015 21:15
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quote:Amazon gets the money right away from my bank, just I don't have it and will probably be charged some fines again. Hmm you think?
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Nov 13, 2015 21:45
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quote:Amazon gets the money right away from my bank, just I don't have it and will probably be charged some fines again. Fines or fees? I guess you could call it an idiot tax.
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Nov 13, 2015 22:22
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Suspicious Lump posted:Being an idiot with math does not equate to being a poo poo salesmen. IMO they are not related, if they were then lots of math majors would be millionaires. It's not that he was an idiot with math, but rather an idiot when it comes to negotiating, and way too naive in terms of expectations.
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Nov 13, 2015 22:38
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I accepted a salary of 1 cent out of college, with the stipulation that my salary will double every year. Sure, in year 8, I am only making $1.28 this year, but by year 40 I'll be earning $5.5 billion 
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Nov 14, 2015 02:20
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last laugh posted:I accepted a salary of 1 cent out of college, with the stipulation that my salary will double every year. Sure, in year 8, I am only making $1.28 this year, but by year 40 I'll be earning $5.5 billion You clever devil! There's no way we'll keep you till you get expensive, then fire you!
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Nov 14, 2015 05:21
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http://money.stackexchange.com/questions/49977/i-signed-on-as-the-co-signer-on-a-car-loan-and-somehow-ended-up-being-the-primar?rq=1 Stumbled into this rabbit hole of terrible decisions and dumb people. dumb pushover posted:I know a person should never co-sign for anyone. I always have. This is why I feel so stupid but I signed on to a car loan 4 or 5 months ago for my ex. e: quote:Well I received a call at work about a month ago from the lender. quote:They informed me she was almost 3 months behind and the car was in danger of being taken.
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