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El Mero Mero posted:I was setting up my new health insurance this morning and came across this handy little tip under the mental health section! Sara the Stress Specialist is pretty GWM since she'll be generating a steady stream of patients with her top of the chart advice.
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Oct 10, 2016 19:26
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Vox Nihili posted:I hope you told him to just sell it all and pay down his balances. I told him to pay the credit card as soon as he could, but I didn't really give him any other advice. He's in his 40's and was convinced that he got screwed instead of him screwing up. He wouldn't appreciate someone 10 years younger than him telling him he made a huge mistake. So, GWM to value your job security over someone else's money and pride?
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Oct 10, 2016 19:28
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Moneyball posted:He dumb. He real dumb.
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Oct 10, 2016 19:28
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Bahaha, that's pretty top level dumb. He thought he could buy something for a price $X that would then produce $X every single month? Does he have the first idea how the stock market works? (Clearly no).
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Oct 10, 2016 20:09
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How did he pick and choose which hot biotech stocks to purchase in the first place? Every stock summary includes history about previous dividend payouts, I wonder how he missed that if high dividends are what he was chasing to begin with. Actually, I don't know why I'm trying to rationalize his decisions. That's just dumb all around, of course he missed it because he never bothered looking in the first place.
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Oct 10, 2016 20:30
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Every time I hear someone recommend some stock sector or whatever nonsense, I can't help but think of the guy in the graduate saying "one word: plastics" as career advice for the aforementioned graduate. They nailed that attitude so perfectly 50 years ago.
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Oct 10, 2016 20:41
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Enfys posted:Sara the Stress Specialist is pretty GWM since she'll be generating a steady stream of patients with her top of the chart advice. I have a feeling Sara is also a Savings Superstar that gives out 401k advice like, "Actively managed funds are a good choice, it's like getting a personal stock advisor for free!"
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Oct 10, 2016 21:29
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Jeffrey of YOSPOS posted:Every time I hear someone recommend some stock sector or whatever nonsense, I can't help but think of the guy in the graduate saying "one word: plastics" as career advice for the aforementioned graduate. They nailed that attitude so perfectly 50 years ago. But plastics were the future. I think people believe dividends are magic money. Like how little old ladies used to support themselves off their AT&T dividend checks. Ignoring the fact they also lived in paid for houses with no debt and a can of Fancy Feast fed both them and their cat.
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Oct 10, 2016 23:41
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Krispy Kareem posted:I think people believe dividends are magic money. Like how little old ladies used to support themselves off their AT&T dividend checks. Ignoring the fact they also lived in paid for houses with no debt and a can of Fancy Feast fed both them and their cat. 2.5% to 3% looks pretty good when you or your spouse invested a pile at 1/40th the current stock price.
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Oct 11, 2016 03:53
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Krispy Kareem posted:But plastics were the future. When you read the description of what they are it does sort of sound better than it is. "You mean they share their profits with me and I don't even have to do anything?!"
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Oct 11, 2016 04:24
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ate all the Oreos posted:When you read the description of what they are it does sort of sound better than it is. "You mean they share their profits with me and I don't even have to do anything?!" I mean, they are pretty good. I had way too much old company stock in my 401k (all matching funds were in stock) and I thought I kind of hosed myself since it was pretty stagnant while the rest of the market was gangbusters. But at .40 cents a share every quarter, I probably broke even or at least didn't totally screw myself over. Then I diversified half of it and the market nosedived (thanks, China) while the old shares inexplicably jumped 20%. Have we ever figured out where Leon Trotsky works so we can make sure none of us have any investments in that company?
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Oct 11, 2016 13:53
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EAT FASTER!!!!!! posted:Bahaha, that's pretty top level dumb. He thought he could buy something for a price $X that would then produce $X every single month? Does he have the first idea how the stock market works? (Clearly no). Maybe if you thought 1% was 1.0X instead of 0.01X and didn't bother to check how often the dividends paid out and just assumed monthly? With this faulty logic a "1% dividend" would pay the 1.0X per month rate he was anticipating... "I can't believe everyone isn't doing this!!!!!"
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Oct 11, 2016 14:05
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roadhead posted:Maybe if you thought 1% was 1.0X instead of 0.01X and didn't bother to check how often the dividends paid out and just assumed monthly? I know a lot of people who can't believe everyone isn't doing this genuinely think other people just aren't smart enough or aren't ~in the know~ enough or something. It's certainly the prevalent idea in bitcoins at least, though that's hardly a judge of reality.
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Oct 11, 2016 14:51
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Krispy Kareem posted:I mean, they are pretty good. I had way too much old company stock in my 401k (all matching funds were in stock) and I thought I kind of hosed myself since it was pretty stagnant while the rest of the market was gangbusters. But at .40 cents a share every quarter, I probably broke even or at least didn't totally screw myself over. I used to work for a private lobbying firm and now work as a senior analyst for a state agency. During my lobbying time, I spoke with VPs of Government Relations at Fortune 500 companies that didn't know what a PAC or Trade Association was. I also had more than one not understand tax brackets (i.e. "Making 1 dollar more into the next bracket is a huge loss!") Financial illiteracy is especially prevalent among the entry level jobs, but it is everywhere. My boss has a $78k car. I didn't even know you could get a standard model for that much. I guess she can afford it, but still... it boggles my mind. I've also had people complain that they have a pension, because they thought it was a tax. Leon Trotsky 2012 fucked around with this message at 15:26 on Oct 11, 2016 |
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Oct 11, 2016 15:21
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Dividends are really not that great unless you are living off of your investments and the cash flow of qualified dividends is useful to support your living expenses. Otherwise it's almost always better from a US tax perspective to deal in long term capital gain/loss.
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Oct 11, 2016 15:24
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El Mero Mero posted:I was setting up my new health insurance this morning and came across this handy little tip under the mental health section! I'll defend this - as mental health advice, a lot of people with depression / anxiety have trouble feeling like they're worth spending any resources on. I take this tip as "how about treating yourself to a nice meal, or seeing a movie you might like" and I feel like that's how it was intended to be taken. It's not uncommon for depressed people to be doing just fine financially but feel bad about doing anything for themselves, like having a hobby or cooking good food or whatever. "it's ok to spend some money every now and then just on pleasure" is intended for a different set of people than we normally criticize in this thread.
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Oct 11, 2016 16:04
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While true, I would not be surprised if there isn't a lot of overlap between the "spending money to cope with unresolved mental health problems" and BWM crowds.
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Oct 11, 2016 16:11
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Slippery slope. I'm not sure I would want to encourage spending as a happiness reward.
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Oct 11, 2016 16:19
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There is a video lottery casino place down the street from me. They always have motivational sayings on their sign, but they are always BWM if you connect them with gambling. 'You never succeed if you never try.' 'Tired of starting over? Stop giving up.' 'Worrying doesn't stop tomorrow's problems, it stops today's peace.' At this point I'm pretty sure they do it on purpose.
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Oct 11, 2016 16:30
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Uncle Enzo posted:I'll defend this - as mental health advice, a lot of people with depression / anxiety have trouble feeling like they're worth spending any resources on. I take this tip as "how about treating yourself to a nice meal, or seeing a movie you might like" and I feel like that's how it was intended to be taken. It's not uncommon for depressed people to be doing just fine financially but feel bad about doing anything for themselves, like having a hobby or cooking good food or whatever. "it's ok to spend some money every now and then just on pleasure" is intended for a different set of people than we normally criticize in this thread.
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Oct 11, 2016 16:40
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Uncle Enzo posted:I'll defend this - as mental health advice, a lot of people with depression / anxiety have trouble feeling like they're worth spending any resources on. I take this tip as "how about treating yourself to a nice meal, or seeing a movie you might like" and I feel like that's how it was intended to be taken. It's not uncommon for depressed people to be doing just fine financially but feel bad about doing anything for themselves, like having a hobby or cooking good food or whatever. "it's ok to spend some money every now and then just on pleasure" is intended for a different set of people than we normally criticize in this thread. "Spending money gives you a sense of control" reads more like a diagnosis criteria than advice.
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Oct 11, 2016 18:48
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taqueso posted:There is a video lottery casino place down the street from me. They always have motivational sayings on their sign, but they are always BWM if you connect them with gambling. Speaking of casinos, the casino in my home town has an arcade for kids. On one hand, I get having a place for parents to entertain their kids. On the other hand, a bunch of the games were some sort of games of chance, and the cynic in me saw it as a breeding ground for future gambler addicts.
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Oct 11, 2016 18:51
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Duckman2008 posted:Speaking of casinos, the casino in my home town has an arcade for kids. What? You never went to any arcade with a Prize for tickets section? God damned Skee-ball corrupting the moral fiber of today's youth!
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Oct 11, 2016 18:52
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There's a casino near me that offers free daycare for kids under 13 for up to 6 hours as long as you buy at least $100 worth of chips or tokens and remain on the premises.
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Oct 11, 2016 18:57
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Leon Trotsky 2012 posted:There's a casino near me that offers free daycare for kids under 13 for up to 6 hours as long as you buy at least $100 worth of chips or tokens and remain on the premises. $100 for 6 hours of daycare isn't a terrible price at least Duckman2008 posted:Speaking of casinos, the casino in my home town has an arcade for kids. Man, I just suddenly got really depressed. You made me realize that the arcade I used to go to while on vacation in the Jersey shore no doubt has been swept out to the ocean  It bred me into the gambler I am today. The kind where I walk into a casino with a pre-determined amount of money that I am willing to and can afford to lose because I know drat well I'll never see it again, and my only goal is to make it last as long as possible.
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Oct 11, 2016 19:17
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Renegret posted:$100 for 6 hours of daycare isn't a terrible price at least It feels like a weird way to enable destructive behavior from gambling addicts, though. The gamblers have to be on premises the entire time, so it isn't really childcare in the traditional sense. I'd feel super uncomfortable about abandoning my kids to a casino worker for 6 hours straight.
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Oct 11, 2016 19:50
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Leon Trotsky 2012 posted:It feels like a weird way to enable destructive behavior from gambling addicts, though. The gamblers have to be on premises the entire time, so it isn't really childcare in the traditional sense. It's definitely superior to the irresponsible trash of my nation who leave their kids/pets in a blazing, 40C+ hot car while gambling, which we hear about at least once every summer.
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Oct 11, 2016 20:00
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Sic Semper Goon posted:It's definitely superior to the irresponsible trash of my nation who leave their kids/pets in a blazing, 40C+ hot car while gambling, which we hear about at least once every summer. It's messed up that people would do that to their kids, but the worst part of that sentence to me is the dog. Who brings their dog to a casino? Especially if you intend to just leave them in the car anyway?
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Oct 11, 2016 20:12
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VendaGoat posted:God damned Skee-ball corrupting the moral fiber of today's youth! Unironically agree 
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Oct 11, 2016 20:14
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Leon Trotsky 2012 posted:It's messed up that people would do that to their kids, but the worst part of that sentence to me is the dog. I've stopped asking why, as it just gives me no answers but a headache. They just do.
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Oct 11, 2016 20:32
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detective monkey paw posted:"Spending money gives you a sense of control" reads more like a diagnosis criteria than advice. Yeah at best that's kinda fundamentally misunderstanding clinical depression and at worst it's encouraging people to develop incredibly damaging coping mechanisms
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Oct 11, 2016 20:51
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Leon Trotsky 2012 posted:I'd feel super uncomfortable about abandoning my kids to a casino worker for 6 hours straight. Okay kids, today Hammy the Hammer is gonna show you what we do to people who try to count cards!
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Oct 11, 2016 20:53
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ate all the Oreos posted:Yeah at best that's kinda fundamentally misunderstanding clinical depression and at worst it's encouraging people to develop incredibly damaging coping mechanisms
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Oct 11, 2016 21:45
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I know someone who used to keep a bag of new, unworn socks in his closet and bust one out when he was sick or having a bad day. That's not a long term solution to treat depression but if your day sucks, it feels good to wear a pair of new comfy socks. You could take it to the extreme and be like that one website that will send you 365 pairs of underwear so you can wear a new pair every day for a year.
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Oct 11, 2016 22:19
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canyoneer posted:I know someone who used to keep a bag of new, unworn socks in his closet and bust one out when he was sick or having a bad day. I don't have a problem with people's weird quirky ways to deal with life's poo poo, the problem here is that that's a health insurance website, featuring advice supposedly by a "stress specialist" that is literally "spend money to give yourself a feeling of self-worth"
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Oct 11, 2016 23:11
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Uncle Enzo posted:I'll defend this - as mental health advice, a lot of people with depression / anxiety have trouble feeling like they're worth spending any resources on. I take this tip as "how about treating yourself to a nice meal, or seeing a movie you might like" and I feel like that's how it was intended to be taken. It's not uncommon for depressed people to be doing just fine financially but feel bad about doing anything for themselves, like having a hobby or cooking good food or whatever. "it's ok to spend some money every now and then just on pleasure" is intended for a different set of people than we normally criticize in this thread. As written, it's really terrible advice that will harm rather than help. There's a big difference between promoting self-care and promoting consumerism in order to feel temporarily better. While what you say about depressed people sometimes having trouble feeling they deserve nice things is true, telling people to chase a buyer's high is terrible advice and will only exacerbate already poor coping mechanisms. It specifically says that spending can give you a brief feeling of self-worth. It's brief because there's no real change in your sense of self worth or any kind of internal validation, so the only way to get that feeling again is to buy something else...and something else. People spending money to temporarily feel better is an incredibly common problem in even healthy people. Overspending in particular is a diagnostic criteria or a symptom for a number of mental disorders because people with depression, anxiety, personality disorders, and other mental illness routinely try to self-soothe through buying things because they don't have better coping mechanisms to make themselves feel better. People with mental illnesses are more likely than the general population to have financial problems (and to have less capacity to change their financial situation or to cope with setbacks/cash flow issues/overspending), and finances are a major source of stress. Mentally ill people are commonly too overwhelmed by the stress of expected finances to even open bills or navigate daily financial transactions. Getting a general picture of someone's financial affairs is part of a case history for psychiatrists here because financial problems are so common in patients, and it's important to work out how it might be exacerbating an illness or functioning as a symptom.
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Oct 11, 2016 23:22
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I don't know why all of you don't just pour your clinical depression into work and use it to make more money which will never make you happy.
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Oct 12, 2016 04:57
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Poverty causes misery but if your misery isn't tied to poverty in the first place, more money usually doesn't help and can actually makes things worse.
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Oct 12, 2016 05:12
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canyoneer posted:I know someone who used to keep a bag of new, unworn socks in his closet and bust one out when he was sick or having a bad day. woah this sounds like a fantastic idea but I have such poor self control I wouldn't be able to resist the siren's call of new, unworn socks or underwear
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Oct 12, 2016 16:17
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canyoneer posted:I know someone who used to keep a bag of new, unworn socks in his closet and bust one out when he was sick or having a bad day. 
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Oct 13, 2016 05:59
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