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Krispy Kareem posted:I just logged on to compare returns. Daughter number 1, about a 40% return lifetime. Daughter number 2 is 80%. It's all in the timing. GWM: Market timing your baby.
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Dec 21, 2016 18:14
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lol at the title
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Dec 21, 2016 18:29
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omnibobb posted:New to financing and stuff, how do I go about refinancing? Hoo boy, this couldn't possibly go wrong.
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Dec 21, 2016 18:30
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omnibobb posted:The current plan is credit card will be paid off this month freeing up $200. It was a joint credit card debt with the ex-wife, so I have been paying $100 less a month in child support as it's "her half". So the plan has been that extra $100 will go to the car for about $300 a month. BWM: Doing anything different than the court ordered. If she agrees to go halfsies on it she needs to cut you a check back for the $100 and note "Credit Card Repayment" on the memo line. You need to get current with your child support asap.
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Dec 21, 2016 18:34
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Since we're on BWM cars, a friend I know bought a new car (a Chevy Volt, I think?) and somehow has an interest rate of like 17% on it.  I worked out the math and he's going to end up paying a ton more than the purchase price on it (and that's before you factor in depreciation). I ended up buying a cheap beater car earlier this year for $3.5k and it's needed about $1.5k in various repairs so far, with potentially more coming soon. 
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Dec 21, 2016 18:37
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pig slut lisa posted:lol at the title I haven't been following. What it referencing
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Dec 21, 2016 18:45
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pig slut lisa posted:lol at the title Mega agreed.
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Dec 21, 2016 18:48
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Guest2553 posted:Where you 100% equities or something? Pretty close, since the general wisdom is to be more aggressive early on when saving for retirement and gradually shift to more conservative investments. I was in index funds and not individual stocks, but dumping in my first two years of contributions just in time for the S&P 500 to poo poo the bed with a -37% annual return was a hole that took a while to dig out of.
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Dec 21, 2016 19:07
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I used to be sooooo BWM with cars when I was in college. First car I bought was a Chrysler Crossfire for around $18k at 17%. Traded it in 1 year later for $8k. I constantly have to stop beating myself up on decisions I made in my early 20s.
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Dec 21, 2016 19:35
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The best part about the millennial generation is that the "haves" who were able to graduate and get good jobs despite the lovely 2008-2010 economy not only out earned their un- and underemployed cohort peers but also got their retirement savings career started on the ground floor of one of the biggest bull markets and real estate booms in history. So if you managed to get a job out of college or professional school during the recession, start a 401k and buy a house at all time low interest rates, your net worth is probably going to completely run away from everyone else over the next decades even now that employment has more or less recovered (nevermind that millions of people are now mostly employed in the lovely Gig Economy™ where you're pretty much on your own for retirement savings)
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Dec 21, 2016 19:37
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Here's the better Harley analogy: they are the Bose speakers of motorcycles. Expensive, crappy, and bought by people who don't know better or choose to remain ignorant
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Dec 21, 2016 19:38
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My friend who inherited a good amount of money from a grandparent bought his homeless dad a brand new $35k Harley.
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Dec 21, 2016 19:51
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lol thanks for biting I think the Corvette's a fine car and that the engineers have done great work optimizing the execution of the decisions made. HD has done likewise (though on far longer engineering cycles) and their v-twin does progress in terms of power and efficiency, executing the decisions made better. Yeah, mostly it's marketing claptrap that drives their demand, and I'd never own an HD personally, but to the same extent someone can rationalize a Corvette for a particular set of designed criteria, likewise a person can rationalize an HD for a particular set of designed criteria.
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Dec 21, 2016 19:53
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canyoneer posted:Here's the better Harley analogy: they are the Bose speakers of motorcycles. Expensive, crappy, and bought by people who don't know better or choose to remain ignorant Or Beats. Perfectly serviceable and even enjoyable, but expensive, gaudy, and literally made larger and heavier than they need to be because 'quality'. And now we're back to an Apple product.
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Dec 21, 2016 20:22
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Dec 21, 2016 20:24
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H110Hawk posted:BWM: Doing anything different than the court ordered. Hold up, there is no court order, and child support is all paid up. We worked together and agreed to 600 a month for child support and that I'd take care of the joint credit (which she doesn't have access too). Once joint credit is paid off, 100 of that will revert to her. This has been going on for 2 years now and there is 0 issue and should be done next week. edit: to clarify, divorce paperwork says we agree to 500 a month and verbally I'll be giving her the extra 100 once the debts paid off. Money wise, everything about the divorce was very amicable.
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Dec 21, 2016 20:26
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I eat out way too much It's me. I'm bad with money 
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Dec 21, 2016 20:27
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Alan Smithee posted:I eat out way too much I had to travel for work and they will pay for travel expenses and tolls, but they won't pay for food. I ate out every day for lunch and dinner for a month and spent less than $170 for the entire month. Got Chic-Fil-A gift cards at Walgreens with Chase Freedom 5% cash back. Ordered a grilled chicken entree and sauce every day and occasionally got a free meal coupon on the receipt. I also lost 12 pounds. It might be BWM though because cardiac surgery from the insanely high sodium content is expensive. Leon Trotsky 2012 fucked around with this message at 20:40 on Dec 21, 2016 |
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Dec 21, 2016 20:37
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Leon Trotsky 2012 posted:Chase Freedom 5% cash back Seriously man, do you make commission for this poo poo?
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Dec 21, 2016 20:40
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WampaLord posted:Seriously man, do you make commission for this poo poo? 5% apparently.
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Dec 21, 2016 20:59
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I just do it for the love of the game, son. Leaving money on the table is BWM.
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Dec 21, 2016 21:03
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omnibobb posted:Hold up, there is no court order, and child support is all paid up. That is not how your previous post read. This sounds way more kosher.
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Dec 21, 2016 21:30
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H110Hawk posted:That is not how your previous post read. This sounds way more kosher. Yeah, I see how I worded that poorly
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Dec 21, 2016 21:32
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BEHOLD: MY CAPE posted:The best part about the millennial generation is that the "haves" who were able to graduate and get good jobs despite the lovely 2008-2010 economy not only out earned their un- and underemployed cohort peers but also got their retirement savings career started on the ground floor of one of the biggest bull markets and real estate booms in history. So if you managed to get a job out of college or professional school during the recession, start a 401k and buy a house at all time low interest rates, your net worth is probably going to completely run away from everyone else over the next decades even now that employment has more or less recovered (nevermind that millions of people are now mostly employed in the lovely Gig Economy™ where you're pretty much on your own for retirement savings) I'd say the people who were just coming into their 30's with nice jobs they held onto in 2008 had it the best, they "lost" what was for most a fairly small amount in retirement accounts and had this huge investment opportunity staring them in the face just as their salaries are starting to take off. Sure, people who mosied into $150k jobs straight out of college had it great in that period too, but there were a lot more people out of college who needed to take a few steps up the ladder before they had good incomes and no student loan debt.
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Dec 21, 2016 22:00
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Leon Trotsky 2012 posted:I just do it for the love of the game, son. Back when you could order cash from the US mint and get free delivery people were putting thousands of dollars on bonus cards and then paying off the charge with the cash before the APR hit leaving them with their bonus points for basically nothing. Rinse. Repeat.
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Dec 21, 2016 22:03
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This is called "churn" or "manufactured spend" and is still apparently a real thing done by real people including members of this very forum. It is, however, a great way to jeopardize your credit standing as if you're a blatant offender different card companies can cause some real headaches for you.
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Dec 21, 2016 22:33
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EAT FASTER!!!!!! posted:This is called "churn" or "manufactured spend"
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Dec 21, 2016 22:35
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Star War Sex Parrot posted:No these are two distinct things. Manufactured spending is a method employed by some churners but not necessary at all. Churning just means you open and close cards for the sign-up bonuses. A-ha! Trap sprung! Serious edit: the glossary on the different methods to reap credit card rewards points is enormous, and there are threads if you're actually more interested than me.
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Dec 21, 2016 22:36
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EAT FASTER!!!!!! posted:A-ha! Trap sprung! 
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Dec 21, 2016 22:37
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Star War Sex Parrot posted:The trap of reading the credit card rewards thread? Yes, not just reading but comprehending.
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Dec 21, 2016 22:38
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EAT FASTER!!!!!! posted:Yes, not just reading but comprehending. Not everyone in that thread is churning, and not everyone who is churning is doing manufactured spending.
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Dec 21, 2016 22:57
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Once we eliminate regulation around credit cards and banking all of this will be legal and it'll rely on the individual to outsmart the credit companies and there will be no repercussions for anyone!
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Dec 21, 2016 23:00
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EAT FASTER!!!!!! posted:Yes, not just reading but comprehending. What are you trying to say with these last couple of posts? Are you trying to be humorous here? I can't even tell. I'm sure most of know what credit card churning is all about so it can't be that.
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Dec 21, 2016 23:57
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Leon Trotsky 2012 posted:I had to travel for work and they will pay for travel expenses and tolls, but they won't pay for food. how the hell did you lose weight by being the Jared Fogle of Chic Fil A 
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Dec 22, 2016 00:09
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Alan Smithee posted:how the hell did you lose weight by being the Jared Fogle of Chic Fil A Whoa now, there are some pretty significant behavioral details attached to that name now.
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Dec 22, 2016 00:15
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Alan Smithee posted:how the hell did you lose weight by being the Jared Fogle of Chic Fil A Ultimately just calories in vs. calories out for losing weight. May not be healthy, but if you burn more than you eat you will shed pounds regardless of how lovely it is.
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Dec 22, 2016 00:19
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The best part about the last few pages of this thread is someone assuming you'll get 8% ROI in the market.
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Dec 22, 2016 00:31
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Alan Smithee posted:how the hell did you lose weight by being the Jared Fogle of Chic Fil A The grilled chicken is actually quite healthy except for the high sodium.
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Dec 22, 2016 00:49
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This thread reminds me of the episode of Veep where Mike has tons of debt because he bought a boat and has no way to actually pay it. He eventually stops stressing about it and buys a brand new Jeep or Hummer or something like that because he's never going to get out of debt so he may as well just enjoy himself. He of course later realizes that 100k+ of debt is a bad and freaks out.
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Dec 22, 2016 02:08
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Back on the baby clothes comment from a couple pages back, I am generally pleasantly surprised how nice the cheap baby clothes are. Like, Carters is super freaking cheap and seems totally good.
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Dec 22, 2016 03:30
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