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The company doesn't hold pounds to reimburse your morning coffee, it holds pounds for when it needs to buy three million pounds worth of equipment from the London subsidiary of a Hong Kong / China joint venture in Singapore.
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Jun 24, 2016 23:37
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Leon Trotsky 2012 posted:
Where do you live and what kinds of cars are your co-workers driving (or how crappy is their driving record)? My wife's car (bought new in 2015) with full coverage and 250/500 liability costs us $65/mo to insure.
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Jun 25, 2016 00:46
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Powerlurker posted:Where do you live and what kinds of cars are your co-workers driving (or how crappy is their driving record)? My wife's car (bought new in 2015) with full coverage and 250/500 liability costs us $65/mo to insure. I have no idea what their driving record is like, but my boss is a woman in her mid-40's and told me that $50 a month in insurance meant I needed a new car because it was dangerously unsafe if the insurance company let me pay that little. I'm not sure what kind of car she drives, but it is a white Mercedes SUV that she says cost 70k and is about 210 dollars a month for insurance. I didn't even know SUV's could cost that much.
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Jun 25, 2016 00:58
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My insurance company lets me pay $0 to insure my car. Insurance is for third party liability, not for vehicle ownership. If you can't afford to replace your vehicle without insurance, you can't afford that vehicle.
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Jun 25, 2016 01:06
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Mantle posted:My insurance company lets me pay $0 to insure my car. Insurance is for protecting your assets and reducing variance. Even if you can afford to outright replace your vehicle, why take that risk?
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Jun 25, 2016 01:23
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Leon Trotsky 2012 posted:I have no idea what their driving record is like, but my boss is a woman in her mid-40's and told me that $50 a month in insurance meant I needed a new car because it was dangerously unsafe if the insurance company let me pay that little. Don't look up a Mercedes G Wagon then, because $70k isn't even half what you can pay for one of those in top trim. We're paying $70/month/car to insure 3 cars for over a million bux. 
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Jun 25, 2016 01:32
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Mantle posted:My insurance company lets me pay $0 to insure my car. Insurance is mandatory in every state, except NH I think, so I assume you are from there?
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Jun 25, 2016 01:33
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Mantle posted:My insurance company lets me pay $0 to insure my car. You'd have to be foolish to drive a car under loan that isn't insured; in fact I think most banks and finance services require you to insure your vehicle. As to why you'd want to borrow money to buy a car, opportunity costs and zero interest rates. Leon Trotsky 2012 posted:I have no idea what their driving record is like, but my boss is a woman in her mid-40's and told me that $50 a month in insurance meant I needed a new car because it was dangerously unsafe if the insurance company let me pay that little. That's the opposite of how insurance works 
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Jun 25, 2016 01:33
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FrozenVent posted:You'd have to be foolish to drive a car under loan that isn't insured; in fact I think most banks and finance services require you to insure your vehicle. As to why you'd want to borrow money to buy a car, opportunity costs and zero interest rates. You don't get it, he is saying the insurance is to cover accidents and liabilities, not the car.
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Jun 25, 2016 01:41
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Leon Trotsky 2012 posted:Insurance is mandatory in every state, except NH I think, so I assume you are from there? He only has liability coverage, not comprehensive/collision coverage. Your vehicle is uninsured by you, so if you drive it into something then that's your problem.
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Jun 25, 2016 01:42
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H110Hawk posted:Don't look up a Mercedes G Wagon then, because $70k isn't even half what you can pay for one of those in top trim. We're paying $70/month/car to insure 3 cars for over a million bux. I'm just quoting this so I can find it easily for the next humblebrag awards.
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Jun 25, 2016 01:47
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Weatherman posted:I'm just quoting this so I can find it easily for the next humblebrag awards. Please let me know if I win. I would hate to miss out on internet shame. Edit: I'm going to go get in my obviously deathtrap car and drive over an hour home in traffic. 
H110Hawk fucked around with this message at 01:54 on Jun 25, 2016 |
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Jun 25, 2016 01:50
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Weatherman posted:I'm just quoting this so I can find it easily for the next humblebrag awards. Pretty sure he is talking about medical coverage. I have 300k covered on each of my cars for a total of 900k. All cars are worth under 20k... You aren't insuring any super car for $70.
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Jun 25, 2016 05:27
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FrozenVent posted:The company doesn't hold pounds to reimburse your morning coffee, it holds pounds for when it needs to buy three million pounds worth of equipment from the London subsidiary of a Hong Kong / China joint venture in Singapore. It's unlikely that it holds pounds at all unless it has a British subsidiary that recognizes revenue in pounds. The usual situation would be to have your bank pay the subsidiary the price agreed in pounds plus whatever fees the bank charges to process that transaction in foreign currency. Your bank would then debit your dollar-denominated account the total USD amount.
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Jun 25, 2016 12:23
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Weatherman posted:I'm just quoting this so I can find it easily for the next humblebrag awards.
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Jun 25, 2016 15:07
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Mantle posted:My insurance company lets me pay $0 to insure my car. When collision coverage costs me the princely sum of $20/mo and comprehensive is $8/mo. I think I'll take the insurance.
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Jun 25, 2016 16:15
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Dustoph posted:Pretty sure he is talking about medical coverage. I have 300k covered on each of my cars for a total of 900k. All cars are worth under 20k... You aren't insuring any super car for $70. More to the point you nearly break even with a $1MM umbrella policy from the multiline discounts on all of your covered policies if you have high limits, especially if you can reduce your per-vehicle coverage. You only have to maintain like 250/500/100 coverage to get the policy covered by the umbrella at State Farm, bringing it to $1.250MM on a given vehicle. Then you have the umbrella on all of your cars and homeowners/renters. BWM/Overt brag: Got a lump sum from a job whose post-tax amount was either the down payment on a house (with PMI) or the whole cost of a 2009 BMW Z4. I kept renting.
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Jun 25, 2016 17:12
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Bhodi posted:For owning three cars with a family? That's practically the entrance fee to AI. No, that's owning three cars per family member. More if anyone else drives them.
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Jun 25, 2016 23:19
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Dustoph posted:Pretty sure he is talking about medical coverage. I have 300k covered on each of my cars for a total of 900k. All cars are worth under 20k... You aren't insuring any super car for $70. You can insure a Model S for a little more than that; $85/mo or so.
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Jun 26, 2016 02:27
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Subjunctive posted:You can insure a Model S for a little more than that; $85/mo or so. Don't think I'd refer to a model S as a super car. Which trim are you referring to? Loan Dusty Road fucked around with this message at 03:18 on Jun 26, 2016 |
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Jun 26, 2016 03:10
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Dustoph posted:Don't think I'd refer to a model S as a super car. Which trim are you referring to? Loaded P85D w/ ludicrous addition. E: We're with Geico, and when we added it to the Kia Optima we had, it exactly doubled the fees. So I guess they think they're equivalent in some way. We do have the deductibles cranked though.
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Jun 26, 2016 03:24
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bend posted:No, that's owning three cars per family member. More if anyone else drives them. Three cars per person, but one drives fine, one drives sometimes, and one will work one of these days just need a few more parts and a dry Saturday.
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Jun 26, 2016 13:32
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RE: The pension discussion. A lot of Canadians seem to be under the impression that their public pensions will be enough to fund their retirement. It really is frightening. And if you tell them that they should save as if the public pension won't exist, they roll their eyes at you as they take out another line of credit. Heck, our CPP/OAS system as it exists today isn't enough to fund the average Canadians' retirement. It's poverty-level income, really.Zo posted:Not even close. GTAT was an "all eggs in one basket" situation where the basket got launched into the sun. Today's "crash" is just overall markets going down by like 5-10%. It will recover. If it doesn't recover you will have more urgent problems than retirement to worry about.
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Jun 27, 2016 15:44
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That's why I pay a little (only 20%) more at GoldBugDirectDotCom LLC, where they ship me genuine gold ingots, direct to my doorstep! I've been burying them in my backyard, it's the most secure way!
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Jun 27, 2016 15:58
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Hedge your index fund ETFs with clean water and bullets.
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Jun 27, 2016 16:11
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Or just dump all of your money in to that one Vice fund that is composed of weapon manufacturers (VICEX)
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Jun 27, 2016 16:26
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Teeter posted:Or just dump all of your money in to that one Vice fund that is composed of weapon manufacturers (VICEX) Not just weapon manufacturers - industries with significant barriers to entry, including alcoholic beverages, tobacco, and gaming. The top holdings include Philip Morris, Reynolds, Wynn, MGM Resorts, Smith & Wesson, and Raytheon. Just reading about it kind of makes me think "Yeah, I want in on this." Even their financial reports are addictive...
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Jun 27, 2016 16:35
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Had another conversation with my bad with money coworkers. These are pretty minor in the grand scheme of things, but there are so many bad with money ideas floating around this office. - One guy is in his mid 40's, just got remarried, and is planning on buying a house next year. He says he is keeping a $2,000 balance on his credit card to "goose" his credit score before applying for a new mortgage. He is not sure if he is paying interest or what rate it is, but it isn't a big deal because he has it set to auto-pay the minimum and an extra couple percentages off of his mortagage rate will be more than worth it. - The guy who just got a "free upgrade" to his BMW last month by trading in his 2012 model for the 2016 model says he is only using Premium gas and Synthetic oil to keep it in top shape. I don't know if his care needs either, but I have a strong feeling that it doesn't. I told him that Premium gas doesn't make a difference unless the car is designed for it and he should check. He told me that he knows it does because it is "a nice car" and he can "feel the difference." - Brexit proves that you should never put any money in the stock market.
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Jun 27, 2016 16:39
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It probably needs premium. He shouldn't have to worry about oil changes, I think bmw covers all maintenance for the first 2 - 3 years. Still bad with money to sell a 4 year old car for another new car though.
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Jun 27, 2016 16:46
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BraveUlysses posted:It probably needs premium. He shouldn't have to worry about oil changes, I think bmw covers all maintenance for the first 2 - 3 years. Still bad with money to sell a 4 year old car for another new car though. I'm selling a year-old car for a new car because I can't import mine from the US to Canada. 
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Jun 27, 2016 16:55
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melon cat posted:RE: The pension discussion. A lot of Canadians seem to be under the impression that their public pensions will be enough to fund their retirement. It really is frightening. And if you tell them that they should save as if the public pension won't exist, they roll their eyes at you as they take out another line of credit. Heck, our CPP/OAS system as it exists today isn't enough to fund the average Canadians' retirement. It's poverty-level income, really. I am always interested when people assume the pension will afford them a similar standard of living to which they're accustomed. The reality is that it's usually intended to keep the elderly and infirm off the streets and with food in their bellies... And that's pretty much it. My guess as to why they think this way is either they seriously think they live "bare bones", or they are deluded as to how much money the pension allots them. Or both! Of course, being faced with the stark reality of their life in retirement with only the pension will be a huge shock. Hopefully they save something up so they're not completely miserable?
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Jun 27, 2016 18:50
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Leon Trotsky 2012 posted:Had another conversation with my bad with money coworkers. These are pretty minor in the grand scheme of things, but there are so many bad with money ideas floating around this office. I know car chat is always frowned upon, but the recommended gasoline for most BMWs at least from 1999+ is 91 octane. Since higher octane gas is directly related to the amount of ping in an engine, an engine with a higher minimum octane rating will require higher octane gas to run efficiently/without any automatic adjustments made by the computer controlling all of this stuff. It usually costs about $4 or something or more to put in premium gas. If you can't afford to put in premium gas, then you probably shouldn't buy a car that requires it. Same for synthetic oils. On a very high level, motor oils are created using a bunch of detergents, esters, and a base oil. Synthetic oils are developed to operate at higher temperature extremes. For a BMW, they recommend synthetics since its operating at a higher temperature (hence the premium gas as well). basically, it will run nicer because its designed to run nicer on synthetics and higher octane gas.
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Jun 27, 2016 22:11
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Leon Trotsky 2012 posted:I don't know if his care needs either, but I have a strong feeling that it doesn't BMWs absolutely do require premium fuel and synthetic oil. Especially now that they are all turbo motors, but even the older NA motors require premium fuel and synthetic oil. They are high compression motors with tight tolerances. But if premium fuel (couple bucks more per fill-up) and synthetic oil are budget breakers for you, you've bought the wrong car. Given that change intervals with synthetic are much longer than with conventional oil the long-run cost difference is negligible. It's also pretty common for new cars to require synthetic oil these days because it outperforms conventional oil in almost all respects and lasts a lot longer. And now that turbos are also getting really popular a lot of new cars require premium fuel, too. They might "run ok" on less than premium, but you're losing power and efficiency by not running the specified octane fuel. Moral of the story: read your owner's manual and put the type of fuel that it specifies in your car, and change your oil with the type of oil specified at the interval specified. Not rocket science.
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Jun 27, 2016 22:22
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shut up about cars e: Unless it is an entertaining BWM story
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Jun 28, 2016 01:36
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Barry posted:shut up about cars But these are entertaining BMW stories.
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Jun 28, 2016 02:31
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Yes octane levels and oil types, I'm on the edge of my seat
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Jun 28, 2016 02:38
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melon cat posted:RE: The pension discussion. A lot of Canadians seem to be under the impression that their public pensions will be enough to fund their retirement. It really is frightening. And if you tell them that they should save as if the public pension won't exist, they roll their eyes at you as they take out another line of credit. Heck, our CPP/OAS system as it exists today isn't enough to fund the average Canadians' retirement. It's poverty-level income, really. It's the opposite in New Zealand as most people accept that there will be no public pension for them. Yet most are not saving enough, and some people I know getting close to retirement age are telling people to save more as they didn't. Although the public pension is higher than unemployment payments it's still not big money. Although I'm not sure how much longer the public pension will be justified for as everyone over 65 is eligible. I suspect a lot of people are just saving large quantities of cash instead of investing. That puts them of risk in the event of a bank collapse as there are no Government protections on bank deposits. A lot of people could end up wiped out in a financial crisis. Although New Zealand is on the up and up with respect to increasing inequality. http://www.interest.co.nz/personal-finance/82323/around-10-individuals-account-60-country%E2%80%99s-net-worth-according-stats-nz
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Jun 28, 2016 03:49
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Is there a modern, developed/developing economy without large income inequality?
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Jun 28, 2016 04:29
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Well if you look on one of the graphs inequality isn't as bad in Greece and the Slovak Republic. I guess we need to move to either of those countries, what could possibly go wrong. You'll always get inequality, I'm just not sure why NZ wants to catch up with the US.
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Jun 28, 2016 04:34
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Devian666 posted:Well if you look on one of the graphs inequality isn't as bad in Greece and the Slovak Republic. I guess we need to move to either of those countries, what could possibly go wrong. You'll always get inequality, I'm just not sure why NZ wants to catch up with the US. They dream of Gini.
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Jun 28, 2016 04:41
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