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People and totaling their loving cars. A woman whose kids are in the same basketball program as mine (I hesitate to call her a friend) totaled her car. Her fault and not her first major crash. We had just gotten my mom's old car for my daughter who wasn't yet ready to drive it (getting her license that week). And this lady asks to borrow our extra car for 3 days while they waited for their insurance payout. Who does that? I'm not even sure whose insurance would cover it if I loaned her a car without telling her it had a blind spot.
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Jan 6, 2017 17:27
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My cousin is hitting up people in the family for money because they need to repay their small-business loan for a craft brewing company they started. He quit his job serving, spent about 9k on equipment, and didn't realize that you need a license to sell alcohol. He gave up after discovering that. They also got the loan online from Prosper.com, I don't know if that is an additional BWM factor or not, but I am immediately suspicious of any place that offers an online small business loan to my cousin. The BWM cherry on top is that they need the family to help them pay this off because he has 35k in student loan debt from one semester of art school and he can't afford both debt payments, but needs to get a new truck before their reported income and credit score tanks. That is the pitch to the family: "I am stupidly irresponsible and I need to be bailed out before my irresponsibility prevents me from doing something even more wildly irresponsible. Thanks, love you all."
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Jan 6, 2017 17:34
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Generally insurance follows the driver, some states might still be weird, and I wouldn't loan my car to someone who just wrecked theirs because dealing with the insurance would be a bitch. I'd be more inclined to help pay for a rental if I were going to help out.
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Jan 6, 2017 17:37
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Leon Trotsky 2012 posted:That is the pitch to the family: "I am stupidly irresponsible and I need to be bailed out before my irresponsibility prevents me from doing something even more wildly irresponsible. Thanks, love you all." The financial equivalent of threatening suicide
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Jan 6, 2017 17:50
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Not a Children posted:The financial equivalent of threatening suicide I'm not sure if bailing him out so he can finance a truck before his on-paper income and credit score is too bad to do it or letting him default on student loans is suicide in this metaphor. Also, he requested a read receipt on the email to the family, so now I have to constantly have one unread email in my inbox to prevent new notifications from my family reply: all messages. The ultimate inconvenience. My coworker who was complaining about spending $6k on toddler clothes and shoes last year and didn't know how store credit cards worked is currently talking to someone outside my office door about getting "professional looking clothes for Jaxon" at Nordstrom for his birthday. He is turning three.
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Jan 6, 2017 17:59
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Leon Trotsky 2012 posted:Also, he requested a read receipt on the email to the family, so now I have to constantly have one unread email in my inbox to prevent new notifications from my family reply: all messages. The ultimate inconvenience. Read receipts are client side. Unless your family is on an Exchange server where you don't have admin rights, just configure/tell your mail client to not send them. Practice with a friend first.
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Jan 6, 2017 18:10
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NancyPants posted:No one ever talks about how valuable a bad example can be. This is true in other aspects of life as well. One password I commonly use is based around "gently caress <name of some idiot rear end in a top hat>" so every time I punch it in I remember not to be a stupid incompetent toxic motherfucker like he is. To keep it thread related, the sports car he drives and the divorce he'll spiral toward will be BWM.
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Jan 6, 2017 18:14
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Leon Trotsky 2012 posted:I'm not sure if bailing him out so he can finance a truck before his on-paper income and credit score is too bad to do it or letting him default on student loans is suicide in this metaphor. Gmail/Inbox has a mute function that can mute threads. I'm not sure about other setups.
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Jan 6, 2017 18:21
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Friend's brother is so BWM he has drifted into GWM. Examples from his life: BWM: Huge bitcoin advocate. GWM: Got involved back in 2011. GWM: Wants to maximize return on investments. BWM: Moved from California to Puerto Rico so he doesn't have to pay capital gains taxes. Got idea from a podcast. WTF: With his four small kids and wife, none of who speak Spanish. GWM: Participates in church activities. BWM: Donated $30k to megachurch that collapsed overnight because leader was abusive. GWM: Operates motel near major tourist destination. BWM: Skimming Yelp reviews reveal this is a roach paradise. WTF: Has plan to fortify his motel in the event of societal collapse, including drinking pool water, forming a giant circle of cars, and expecting to operate "ethically" by not hurting anyone or stealing from stores. It was fun to read prepper comments on his plan, including pointing out that he had the wrong type of filter for pool water and planning to remain downtown in a major city during upheaval (simply because he had property there) was insane. Other activities: Steam profile shows hundreds of hours of recent activity (again, wife and four kids). Admirer of Trump, Joe Rogan, and Scott Adams. Gun hoarder. He's bizarre but seems to be doing ok, financially? I'm wondering how long he can keep it up until his wife gets fed up, as nearly all of his posts about Puerto Rico are about firearm ranges, setting up a gaming computer, or ranting about betas. Not much about schools, family activities, or childcare.
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Jan 6, 2017 19:16
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https://np.reddit.com/r/legaladvice/comments/5m90gv/im_17_2_years_ago_i_inherited_100k_from_my/quote:I'm 17. 2 years ago I inherited $100k from my grandfather with mom controlling it. She invested 100% into Sears stock while investing my brother's money in a mutual fund. She hates me and I'm the black sheep. Anything I can do about this? NY (self.legaladvice)
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Jan 6, 2017 19:18
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I have generally found a very strong correlation between people who really like Scott Adams or talk about his writing and people who are monstrous shitheads. I mean it's not 1:1 but it's close.
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Jan 6, 2017 19:19
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canyoneer posted:https://np.reddit.com/r/legaladvice/comments/5m90gv/im_17_2_years_ago_i_inherited_100k_from_my/ Hahha jesus christ that's cruel.
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Jan 6, 2017 19:40
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You can probably sue the poo poo out of her for not meeting her fiduciary responsibility to the trust. If she knew there was a better way to invest it, as evidenced by what she did for the other person, she has to do it. (Absent gently caress-you instructions at the outset of the trust, if it pre-dated the inheritance.)
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Jan 6, 2017 20:35
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Leon Trotsky 2012 posted:My cousin is hitting up people in the family for money because they need to repay their small-business loan for a craft brewing company they started. If Prosper is anything like "Lending Club" then they offer loans at interest rates up to 30%. The loans are financed by users ("investors") so Propser has nothing on the line. The whole scheme is insane. I did a bunch of research into it and should probably post more about it in this thread. Bottom line is that people are going online and getting loans at upwards of 20% for "major purchase" or "refinancing debt" from users, some of whom are using the returns from these "notes" to finance their own retirement (they offer IRA accounts for investors). Vox Nihili fucked around with this message at 21:01 on Jan 6, 2017 |
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Jan 6, 2017 20:58
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Vox Nihili posted:If Prosper is anything like "Lending Club" then they offer loans at interest rates up to 30%. The loans are financed by users ("investors") so Propser has nothing on the line. The whole scheme is insane. I did a bunch of research into it and should probably post more about it in this thread. Bottom line is that people are going online and getting loans at upwards of 20% for "major purchase" or "refinancing debt" from users, some of whom are using the returns from these "notes" to finance their own retirement (they offer IRA accounts for investors). What is his liability in this situation? He seemed to imply that he owed it to a bank and it would impact his credit score (and ability to finance a new truck...) in some way. I don't know the exact process of how small business loans are given out, but who issues a nearly 10k loan to someone who intends to open a brewing company and didn't have a license or realize that you need a license to sell alcohol to retailers and restaurants and not just people? This loan is apparently almost two years old and I have no idea what his payment plan looks like. It is possible that he owes way more than the 9k he borrowed and is still being an idiot? Nobody is willing to throw in his entire loan cost, but my family email chains are already starting with the "if everyone chips in $800 or so, then it costs practically nothing and he'll be out of the loan! Come on guys!" His sister already got bitched out in the email chain for suggesting that he sell his brewing equipment first and asking why he waited a year after quitting (technically never starting) his business. "He needs it now! Don't kick family while they're down."
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Jan 6, 2017 21:14
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Leon Trotsky 2012 posted:What is his liability in this situation? He seemed to imply that he owed it to a bank and it would impact his credit score (and ability to finance a new truck...) in some way. Prosper is indeed one of those crowdfunding loan sites; it was probably marked as high risk but people are willing to include some high risk notes in their portfolio due to higher returns, as long as not too many of them default. Still, the whole story is BWM, for sure.
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Jan 6, 2017 21:16
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Bitcoin guy at work sold his Element a few years ago because he needed "room for my future kid," and purchased a Ridgeline. Kid is like 2 now. The other day, I'm talking to him and he wants to sell the Ridgeline privately (as opposed to trading it in) because he's upside-down on it, and then purchase a $50-60k Dodge Diesel. His reason? So he can "take weekend trips with my wife and kid. The Ridgeline isn't big enough."
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Jan 6, 2017 21:21
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Krispy Kareem posted:And this lady asks to borrow our extra car for 3 days while they waited for their insurance payout. Who does that? I'm not even sure whose insurance would cover it if I loaned her a car without telling her it had a blind spot. A close friend of mine used to regularly loan her car to an old friend that delivered pizzas for a living and regularly had serious mechanical issues with his own vehicle. She actually felt guilty when she told him she couldn't let him borrow it after like that fourth or fifth time.
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Jan 6, 2017 21:26
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Leon Trotsky 2012 posted:I'm not sure if bailing him out so he can finance a truck before his on-paper income and credit score is too bad to do it or letting him default on student loans is suicide in this metaphor. I was reading a thread on Reddit a few days ago about what not to give people when they have kids and one of the big thing was baby clothes. Why anyone would buy any more than one "good/picture" outfit is beyond me.
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Jan 6, 2017 22:23
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Leon Trotsky 2012 posted:What is his liability in this situation? He seemed to imply that he owed it to a bank and it would impact his credit score (and ability to finance a new truck...) in some way. It's almost certainly a real, unsecured personal loan (issued by an entity closely related to Prosper, but if it's anything like Lending Club, legally distinct). Depending on whether he is making his payments or not it could be racking up unpaid interest and penalties beyond its regular rate, and yes, it could bloat up in size. If he misses enough payments I believe they will write off the debt on their books (really the users' books [but legally on the distinct entity's books!]) and sell it out to collection. I think the users can also sell their own individual stakes in the loan; on Lending Club users typically "own" $25 or $50 chunks as securitized notes rather than an entire loan. Since the loan itself is very real, if he's behind on payments or if he defaults he will take a big hit to his credit. The good news is that since this is an unsecured internet loan it's less likely that he'll face a bunch of harassment and his property isn't going to be seized, though who knows what will happen after the bad debt is sold. To be clear, it's unlikely the folks actually lending him money ever knew it was for a microbrewery startup, likely it was listed as a "business loan" or similar. Here's what "investors" see when they manually browse the loans at Lending Club: Good credit/low-risk:  Bad credit/high-risk:  Wowza, that 30% return on a small business loan at the bottom looks sick! Let's click on it for more details:  The Credit History is a real credit pull done by Lending Club (or whatever entity they use for that task). The Profile information is self-reported, i.e., unverified. Why is this Maintenance Engineer looking to borrow $20k over a 5-year term at 30% interest? That, dear investor, is simply unknowable. Vox Nihili fucked around with this message at 00:34 on Jan 7, 2017 |
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Jan 7, 2017 00:30
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Vox Nihili posted:It's almost certainly a real, unsecured personal loan (issued by an entity closely related to Prosper, but if it's anything like Lending Club, legally distinct). Depending on whether he is making his payments or not it could be racking up unpaid interest and penalties beyond its regular rate, and yes, it could bloat up in size. If he misses enough payments I believe they will write off the debt on their books (really the users' books [but legally on the distinct entity's books!]) and sell it out to collection. I think the users can also sell their own individual stakes in the loan; on Lending Club users typically "own" $25 or $50 chunks as securitized notes rather than an entire loan. Since the loan itself is very real, if he's behind on payments or if he defaults he will take a big hit to his credit. The good news is that since this is an unsecured internet loan it's less likely that he'll face a bunch of harassment and his property isn't going to be seized, though who knows what will happen after the bad debt is sold. One of the doctors I used to work with while I was in the Navy got really big into doing this poo poo (as a lender) after taking a bath in the housing market in 2008 looking for higher investment returns. I don't know how it went, but he ended up moving from San Diego to rural Texas, so I'm guessing 'not well.' GWM: Moving to an area where you have a better income/expense ratio BWM: Being forced to make that move because you repeatedly make disastrously aggressive financial moves, despite having a military retirement and a pretty cushy physician-contractor gig.
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Jan 7, 2017 01:30
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ESPN is bad with money. This is in reference to the Texans vs. Raiders wildcard game this Saturday. http://www.outkickthecoverage.com/espn-will-lose-75-million-televising-raiders-texans-010217 quote:It turns out, and this is positively mind boggling, that ESPN pays $100 million dollars just to air this single wild card game. quote:Every other network that carries the NFL -- NBC, CBS, and Fox -- has their playoff games or the Super Bowl, which rotates between NBC, CBS and Fox each three years, included within their yearly rights fee. Except for ESPN, which pays an extra $100 million for one crappy wild card game. quote:This means the wild card game on ESPN is the worst contract in the history of American sports on television and I'm not sure there's even a close second. Between now and 2021, when this contract runs out, ESPN will lose over $600 million airing this one crappy wild card game a year. quote:The NFL assigns ESPN the worst wild card game in the worst time slot on the worst day possible and then decides whether or not it wants to take the $100 million each year. That is, ESPN doesn't even get to choose whether it wants to air the game or not. The NFL just says, "You're airing it, give us $100 million."
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Jan 7, 2017 04:34
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BAE OF PIGS posted:ESPN is bad with money. This is in reference to the Texans vs. Raiders wildcard game this Saturday. ESPN is terrible with their contracts, and when we start transitioning toward à la carte channels being available, or packages being available without ESPN (such as Sling Blue streaming package) they are going to crash the hardest. From a linked article talking about the bubble nature of sports revenue from broadcasting http://www.outkickthecoverage.com/the-nba-tv-contract-isn-t-sustainable-070616 quote:Presently ESPN is on the hook for the following yearly rights payments: $1.9 billion a year to the NFL for Monday Night Football, $1.47 billion to the NBA, $700 million to Major League Baseball, $608 million for the College Football Playoff, $225 million to the ACC, $190 million to the Big Ten, $120 million a year to the Big 12, $125 million a year to the PAC 12, and hundreds of millions more to the SEC.
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Jan 7, 2017 05:08
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Vox Nihili posted:It's almost certainly a real, unsecured personal loan (issued by an entity closely related to Prosper, but if it's anything like Lending Club, legally distinct). Depending on whether he is making his payments or not it could be racking up unpaid interest and penalties beyond its regular rate, and yes, it could bloat up in size. If he misses enough payments I believe they will write off the debt on their books (really the users' books [but legally on the distinct entity's books!]) and sell it out to collection. I think the users can also sell their own individual stakes in the loan; on Lending Club users typically "own" $25 or $50 chunks as securitized notes rather than an entire loan. Since the loan itself is very real, if he's behind on payments or if he defaults he will take a big hit to his credit. The good news is that since this is an unsecured internet loan it's less likely that he'll face a bunch of harassment and his property isn't going to be seized, though who knows what will happen after the bad debt is sold. Can you see the actual credit file with the individual trade lines or is the above summary all you get? Depending on what the public records are they could be a big deal or not big deal at all. Look at how low the guy's revolving line utilization is. It might be a good loan; if he was really hard up utilization would be better than 50%. Business loans are inherently riskier though, and that is on top of unsecured being riskier to begin with. I used to underwrite loans and still work in the lending industry. I had a co-worker a few years back who was telling me he had pulled some money out of the market to put into P2P lending. He reasoned that having some experience lending and maintaining a portfolio within certain default targets he could do a little better than your average investor. I never followed up with him on how he did, but I also know he wasn't "all in" and was just taking a portion of his stock accounts to put towards something else. Of course, the sunup over the last couple years would have made him some money too.
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Jan 7, 2017 05:17
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Today on the Toronto Real Estate Bubble update: a house in a fairly unremarkable suburban neighbourhood has just sold for +$1 million over asking. Home prices went up by 20% in December, a period which is traditionally marked by much slower, almost glacial real estate activity. The best part is this quote from the quote:“We saw low unemployment, we saw income growth over the rate of inflation so a lot of households, we’re certainly confident in their ability to purchase and pay for a home in the long-term, but what they are up against in a lot of cases is a real short supply of listings.” Which is quite a statement to make in the face of consistent quarter-over-quarter indicators that Canadian incomes have been stagnating, the $CAD is still in the crapper, and unemployment rates are still problematic. Cheap credit. Shaky job numbers. People taking advice from the same board that's profiting from the real estate bubble. Welp. Okay. melon cat fucked around with this message at 06:30 on Jan 7, 2017 |
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Jan 7, 2017 06:28
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"The headline gain would be even larger if not for a chunky 5-per-cent plus drop in gasoline prices" Translation: this would really suck if gasoline wasn't stupid cheap right now
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Jan 7, 2017 06:54
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Goodness gracious, if I had to pay 15 cents more per gallon I'd be out like $10 more a month! Thank god that's not the case so I can buy $10k more worth of house
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Jan 7, 2017 07:03
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melon cat posted:Which is quite a statement to make in the face of consistent quarter-over-quarter indicators that Canadian incomes have been stagnating, the $CAD is still in the crapper, and unemployment rates are still problematic. The thread had moved on before I caught up, but I liked the article posted a few days ago about the un-remodeled "underpriced" house that had a mob scrum of hundreds clamoring for the opportunity to bid a detached shitbox in the Toronto suburbs into seven-figure territory. There was a quote from the realtor about how they had chosen not to make improvements on the home before putting it up for sale partly because they were concerned 'the market might turn' before they had a chance to list it. I thought it was a refreshing bit of candor. If it's gotten to the point where realtors are specifically rushing homes onto the market because of fears the bubble will pop, the bubble is about to pop. Fake edit: found the article. quote:"I purposely put it for sale without renovating or painting it. If you renovate or paint it, we're going to go into the spring market by the time we put it up, and then we're going to have a lot more competition as well and the risk of the market turning," [the realtor] said.
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Jan 7, 2017 07:17
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Wow this thread moves fast. Go to a country that hates freedom of information for a few weeks and there's 500 new posts. BWM, by the way, is real estate in Shanghai. 750 sqft condos for near $1.5 million. Great!ate all the Oreos posted:Wasn't someone wanting you to email them to join a game of them? I forgot who it was or where to email and I forgot to send the email and I would like to play That was me. Still got it kicking around. I only received 11 emails total, and with the number of active posters here I was waiting for around 25. sa.moneyball@gmail.com Modest Mouse cover band posted:
 More BWM. While I was gone, I got hit up by two people looking to borrow money because of their poor life choices. First was my sister, who is Lyfting her high mileage SUV in to the ground. She wanted to borrow $1,600 for repairs, money I know I would never see again, so I had to decline. She ended up getting it done by a non-mechanic friend for cheaper. Predictably, it made the problem worse and now it's going to cost more. I repeatedly offer to get her an interview with my old employer that will pay over 35k with benefits, and she keeps dragging her feet on sending me a resume. She's considering trying to get on Judge Judy for it, and that is actually GWM so I support it. The other was a friend of mine setting up a gofundme for dental work. Due to avoiding the dentist for years and being addicted to soda, she needs to either get $4k worth of work done, or lose her teeth. I know I should feel more sympathy than I do, but are seeing a dentist and putting together a resume that hard? This isn't relevant to BWM, but as this is by far the most active BFC thread, and you're a bunch of judgmental pricks, said with love, I figured I'd ask here. I apologize if this brings back the "what counts as rich" derail. How many of you feel the need to give your significant other a reality check? We're currently in a rough patch, as she's having doubts I can live up to my end of her expectations, career-wise. When I asked what she expected us to make combined, her answer was $500,000 a year in our prime earning years. We're 29 and 32, not naive college students, and it is certainly possible if one or both of us opens a business, but that's her expectation rather than her goal. She balked at spending over $1,000 for an apartment in the Boston area and spends like she earns $20,000 a year, so I have no idea what she would even spend it on. She's surrounded by Chinese friends who have been starting businesses, so I think it's a case of keeping up with the Zhongses.
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Jan 7, 2017 16:03
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Moneyball posted:This isn't relevant to BWM, but as this is by far the most active BFC thread, and you're a bunch of judgmental pricks, said with love, I figured I'd ask here. I apologize if this brings back the "what counts as rich" derail. How many of you feel the need to give your significant other a reality check? Earning $500,000 a year would put in you well into the top 1% of US households. I don't know how that's a reasonable expectation for anyone. That said, earning at that level would make it pretty easy to feel pretty secure about retirement provided you can spend like a family earning $150,000, which is probably her major source of concern. If you have a good discussion and communicate openly about your long-term financial planning (which I'm sure is very sound as I see you post here literally all the time) maybe you can alleviate her fears? The other half of this is maybe she's spending at such a miserly level because she feels stress about not being sure she can increase her/your lifestyle without jeopardizing your long-term financial future. Make sure you have plenty of line-items in your budget where you can save lots and spend for things like occasional nice experiences (travel, restaurants, toys, pets, whatever) because that stuff really does make life worth living. We have a pretty affordable house but a pretty expensive car and my wife and I both understand that certain experiences are worth sacrificing a little for us and certain things are great to get a good deal for and that's our relationship and we're comfortable for it. we earn >500k a year though EAT FASTER!!!!!! fucked around with this message at 16:15 on Jan 7, 2017 |
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Jan 7, 2017 16:12
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Moneyball posted:This isn't relevant to BWM, but as this is by far the most active BFC thread, and you're a bunch of judgmental pricks, said with love, I figured I'd ask here. I apologize if this brings back the "what counts as rich" derail. How many of you feel the need to give your significant other a reality check? What are you making now combined and what field are you each in? Gross, not AGI. Half a million a year is a mountain of money. Even if you both make very high paying jobs compared to the median I would say that $300k is a more reasonable number. She certainly needs a reality check if you guys are at $100k and spending like you have $20k. Is she Chinese? Did her parents grow up in poverty? That may be driving a lot of this from a cultural aspect. Lay out of a spreadsheet.
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Jan 7, 2017 16:45
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500k a year combined at age 30 is doable for the elite of the elite who probably would also have tons of debt (doctors fresh out of residency, big law associates, etc). Even senior vice presidents at huge companies probably aren't pulling in a ton more than that. Then again maybe in the silicon valley bubble it's not all that much? What a weird number to shoot for
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Jan 7, 2017 17:04
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flosofl posted:ESPN is terrible with their contracts, and when we start transitioning toward à la carte channels being available, or packages being available without ESPN (such as Sling Blue streaming package) they are going to crash the hardest. It's going to hurt the NFL more. A couple of years ago when sports ratings were the only things going up, they were estimating eventual revenue double what it is now. And this year viewership went down by double digits. The next contract is going to be a loving massacre. I think half of NFL revenues are from broadcast contracts.
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Jan 7, 2017 17:20
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If my spouse told me those numbers I would expect to then see how they plan to achieve this $250k salary and what they expect to spend it on, along with projected retirement age and lifestyle. That would be my version of the reality check. I no poo poo had culture shock when I got married. I grew up so poor that comfortably middle class looks wealthy to me. I helped the "don't be poor again" anxiety by doing reasonable things like making sure we had retirement accounts funded, separate emergency savings funded, and an overall budget that we stick to. My husband and I have always talked about money openly and it's a conversation and effort we both contribute to. It's not always perfect, and he certainly likes to offload the mental labor sometimes, but that's human beings. If you can't get a productive conversation happening or nothing ever comes of it, there's nothing wrong with getting counseling to stay with this person. Counseling isn't just for crazy people, it's for adults who've realized they don't know how to do something. It's like the dentist. Sometimes it sucks but it's either that or let your teeth rot out of your mouth. E: I'm addressing the emotional side to it because $500k is such a made up number that it is purely emotional and driven almost purely by anxiety, either of the "I'm going to be poor again" variety or the "I won't fit in" variety. Address the emotional problem. BonerGhost fucked around with this message at 17:34 on Jan 7, 2017 |
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Jan 7, 2017 17:31
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Krispy Kareem posted:It's going to hurt the NFL more. A couple of years ago when sports ratings were the only things going up, they were estimating eventual revenue double what it is now. And this year viewership went down by double digits. A GWM counterexample of negotiating sports broadcast contracts: The Silna brothers. They were owners of the St. Louis ABA basketball team. When the ABA merged with the NBA and absorbed some of its teams in the 70s, the St. Louis Spirits were folded instead. As part of the agreement to close down, they managed to negotiate a share of the NBA's broadcast revenue in perpetuity - basically around 2% of the NBA's entire take. By the beginning of this decade they had hauled in $300 million and were getting close to $20 million per year, when the NBA finally bought them out with a lump sum payment of $500 million. Pro tier GWM: Negotiating what ultimately became a nearly $1 billion payout for folding your failing basketball franchise.
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Jan 7, 2017 17:42
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Moneyball posted:We're currently in a rough patch, as she's having doubts I can live up to my end of her expectations, career-wise. When I asked what she expected us to make combined, her answer was $500,000 a year in our prime earning years. We're 29 and 32, not naive college students, and it is certainly possible if one or both of us opens a business, but that's her expectation rather than her goal. She balked at spending over $1,000 for an apartment in the Boston area and spends like she earns $20,000 a year, so I have no idea what she would even spend it on. She's surrounded by Chinese friends who have been starting businesses, so I think it's a case of keeping up with the Zhongses. Are you guys doctors / lawyers / senior management track MBAs? If not, you'll be doing pretty drat well for both of you to be in the upper 100s, but that won't meet her arbitrary bullshit earnings goal. It sounds like there's a serious talk you need to have about why she wants to earn that much.
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Jan 7, 2017 18:09
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I have a coworker who has estimated that he spent over 1 million dollars on trying to open a restaurant and never got anywhere and sold the shell of the building. At some point people broke in and stole the copper from the walls. The kicker is, he was over the age of 50 when he started trying to open it. I have no idea what his end game was. He's now over 60 and apparently plans on never retiring.
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Jan 7, 2017 18:20
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I knew a guy like that. First generation Chinese and his parents had basically broken his mind w.r.t. spending. He was an engineer at amazon making somewhere around $150k, and he just couldn't spend. He would buy forty pound sacks of rice and gallons of vegetable oil from Costco once a quarter and eat fried rice with a bit of frozen vegetables for all his meals on the floor of his apartment where he had no furniture. Luckily when he got married his wife got him some counseling and he's more normal now. 
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Jan 7, 2017 18:27
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Fuzzy Mammal posted:I knew a guy like that. First generation Chinese and his parents had basically broken his mind w.r.t. spending. He was an engineer at amazon making somewhere around $150k, and he just couldn't spend. He would buy forty pound sacks of rice and gallons of vegetable oil from Costco once a quarter and eat fried rice with a bit of frozen vegetables for all his meals on the floor of his apartment where he had no furniture. This was me until my family started gifting me old furniture to fill my apartment. Still buy food in bulk and will eat the same meal for a week.
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Jan 7, 2017 19:21
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| # ? May 29, 2024 19:02 |
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Fuzzy Mammal posted:I knew a guy like that. First generation Chinese and his parents had basically broken his mind w.r.t. spending. He was an engineer at amazon making somewhere around $150k, and he just couldn't spend. He would buy forty pound sacks of rice and gallons of vegetable oil from Costco once a quarter and eat fried rice with a bit of frozen vegetables for all his meals on the floor of his apartment where he had no furniture. That dude is basically this thread's avatar.
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Jan 7, 2017 19:23
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