|
Kirkland brand alcohol is cheap and good as well. loving lol at this thread sometimes, I read the last two pages and we went from "Is $500k/year rich?" to "How can people live on less than $20/hour?" KingSlime posted:Some of you need some serious perspective checking if you don't think your life isn't a constant stream of excess and indulgence based on the numbers you're throwing around. You used better words than I did, but yeah. I feel so out of touch being someone who makes $40k/year. Not making enough is BWM.
|
#
?
Jan 9, 2017 16:32
|
|
|
|
| # ? Jun 4, 2024 18:44 |
|
|
It's very silly to strive to make a specific x amount of money per year. Because in many places, $100K/year doesn't get you much. But in other places, it's plenty. It's also a good way to get funnelled into an occupation that you hate, which means that you'll either perform badly, or burn out of. I could never understand people's weird obsession with the mystical "I wanna make $100K a year!" aspiration. It's like people everywhere collectively decided that $100,000 per year is some sort of milestone achievement that every living human should aspire to, even though most people would foolishly spend away that money once their salary went up. Also, a lot of people lie about their incomes, especially if they're obsessed with keeping up appearances. Which makes it really dangerous when you fall into the trap of "Keeping up with the Joneses". There's a lot more to financial well-being than your before-tax, before daily expense, before debt obligation "salary". Krispy Kareem posted:If you're planning on a big ticket electronics purchase, you'd probably do well buying an one-year Costco membership just for the extended warranty on their TV's and their incredible return policy. Also, Costco isn't always the cheaper option. Their paper Kirkland-brand towels, toilet paper, and other consumer staples brands are cheaper, but everything else is generally higher quality and therefore more expensive than other brands. Costco trips are expensive. 
melon cat fucked around with this message at 16:48 on Jan 9, 2017 |
|
#
?
Jan 9, 2017 16:39
|
|
|
WampaLord posted:You used better words than I did, but yeah. I feel so out of touch being someone who makes $40k/year. Not making enough is BWM. Sometimes I forget how "elite" these forums are in comparison to my economic background and personal upbringing. Then I read PYF purchases and this thread.
|
|
#
?
Jan 9, 2017 16:39
|
|
|
Duckman2008 posted:Costco is worth it just for the pricing you get on car rentals while traveling. USAA has been the cheapest I've had access to, but I can't recall if I've compared their discount to Costco or not. Also, if you're booking a rental a few months out, set up a reminder to recheck pricing every few days. I had that situation last year and the rental prices dropped almost in half for a few days at some point and I was able to rebook at a huge savings. We probably come close to making back our Costco membership fee just in how much we save on milk in a year. Their gas station is typically $0.20 less per gallon than other gas stations on unleaded, and I've seen diesel (wife has a TDI) for upwards of $0.50 per gallon cheaper.
|
|
#
?
Jan 9, 2017 16:46
|
|
|
BeastOfExmoor posted:USAA has been the cheapest I've had access to, but I can't recall if I've compared their discount to Costco or not But anyone can join CostCo for a membership fee, for USAA you have to be active/former military or a military spouse, so a straight comparison isn't useful.
|
|
#
?
Jan 9, 2017 16:50
|
|
|
Even if it were next door, there is no way that waiting in that huge rear end Costco gas line is worth 3 bucks. Maybe your Costco is a lot less crowded than mine is.
|
|
#
?
Jan 9, 2017 16:53
|
|
|
yeah i accept that if things get real bad i should trade in or sell or something my truck and try to get a used one. right now i owe less than its worth. i had been debating on getting a sedan instead (since i have no need for a 4wd truck where im moving to) but the cost of insurance would skyrocket again for some god forsaken reason. itll be a leraning experience. i'll be going from $17/hr to $10/hr or around there. I'll really just have to support myself but ill have my gf there too so 
|
|
#
?
Jan 9, 2017 16:58
|
|
|
melon cat posted:It's very silly to strive to make a specific x amount of money per year. Because in many places, $100K/year doesn't get you much. But in other places, it's plenty. It's also a good way to get funnelled into an occupation that you hate, which means that you'll either perform badly, or burn out of. I could never understand people's weird obsession with the mystical "I wanna make $100K a year!" aspiration. It's like people everywhere collectively decided that $100,000 per year is some sort of milestone achievement that every living human should aspire to, even though most people would foolishly spend away that money once their salary went up. Agreed. Gauging your success or wealth on salary numbers is pretty silly, especially since life is very different in a single income household at $100k vs. a dual income household at $50k/each. And then there's inherited wealth too which is a whole other kettle of fish. Some people start out with a bunch from their parents/grandparents. Some others accrue negative wealth from family members, like if they are expecting to need to financially support their aging parents with underfunded retirements. So yeah, you never really know. Costco's electronics return policy got changed from a really generous, no questions asked one to what we have now which is similar to other retailers. People who worked there told me that they would see people buy a TV in the 80's at Costco, and then return it and upgrade it every 5 years or so, applying their original purchase price towards a newer model. So you could spend $400 and get new TVs every few years for the next 25 years (when they changed the policy)
|
|
#
?
Jan 9, 2017 17:41
|
|
|
People exaggerating their income is a good thing to remember for sure. I myself overestimate by 5k when asked partially because it's freelance and changes per year and partially because I subconsiously want to be as close to the "success spectrum" as possible. I am a few k short of my main income goal I set for myself during college, at least at this age. And I'm pretty happy about that, my monthly expenses have stayed the same so I feel like a child with too much money during payday, at least for a glorious night or two during the week. No doubt my needs will scale with a family and children but since I'm a goon I should die alone hopefully. And yeah all my needs are met+some but I'm still working towards growing my income, human nature and all. Point is, I've no doubt people ham up their claims with a larger range of flexibility to their numbers. KingSlime fucked around with this message at 17:57 on Jan 9, 2017 |
|
#
?
Jan 9, 2017 17:48
|
|
|
KingSlime posted:Some of you need some serious perspective checking if you don't think your life isn't a constant stream of excess and indulgence based on the numbers you're throwing around. I carpool with a guy who drives a Mercedes ML something or other, gets his car serviced exclusively at the dealership, owns a boat, owns his house outright (bought at $3xxk now worth $1MM non bubble bux, pays less property tax than me due to CA laws), literally 0 debt, his kids go to basically any college they want for cheap to free, etc etc. He was complaining that he wished they would "only raise taxes on the rich, not people like him. I mean our combined income is only $350k." I'm fairly certain his wife is earning ~60%+ of that and might have a pension coming. The bubble he lives in is hilarious. The BWM is the dealer serviced German luxury car out of warranty. He wanted a AWD diesel to tow his boat. (Which he does get a dozen or two days a year of use fishing in it. It fits in his garage.) Recently the fill level sensor in his DEF tank went out and he paid $4,000 for a whole new tank at the dealer. They are maybe 5-7 years from retirement, basically as soon as their youngest kid finishes college.
|
|
#
?
Jan 9, 2017 18:01
|
|
|
Krispy Kareem posted:Wait, is 500k now rich? It's upper class by the commonly accepted limit of upper-middle class being $250k
|
|
#
?
Jan 9, 2017 18:11
|
|
|
KingSlime posted:Some of you need some serious perspective checking if you don't think your life isn't a constant stream of excess and indulgence based on the numbers you're throwing around. I started at $12 bux an hour and worked my way up so i have the god-given right to look down on you for not bootstraps'ing hard enough Also I'm a white male from a stable, upper-middle class home who went to good schools and a good college but obviously that has nothing to do with it and it's just my hard work 
|
|
#
?
Jan 9, 2017 18:14
|
|
|
Duckman2008 posted:Costco is worth it just for the pricing you get on car rentals while traveling. About a year ago my costco rental saved me about 400 bucks on a week rental. Almost felt guilty with how much cheaper it was.
|
|
#
?
Jan 9, 2017 18:23
|
|
|
Yeah my college was paid for due to my family income situation and to pretend that my free education didn't play a huge role in my relative success is just to be a giant dick head. I've worked hard and have had my fair share of minimum wage jobs but I have also been very fortunate in many, many ways. Not sure where I'm going with this derail but yeah dudes who make six figures, might be worth going down your budget and trimming down to essentials just for fun and to see where you stand. You might be surprised at just how much you're unnecessarily leaking. KingSlime fucked around with this message at 18:29 on Jan 9, 2017 |
|
#
?
Jan 9, 2017 18:25
|
|
|
I saved like $1000 by booking my Kauai trip last year through Costco between the resort, car rental (Jeep upgrade!), and flights. It was great. I do one monthly grocery trip for $5-600 and I have enough food to feed my 3 small eat-machines.
|
|
#
?
Jan 9, 2017 18:33
|
|
|
Henrik Zetterberg posted:I saved like $1000 by booking my Kauai trip last year through Costco between the resort, car rental (Jeep upgrade!), and flights. It was great. What up, Costco Kauai trip planner buddy? Although we just did the car rental part, and got an Airbnb. Also, for someone on the fence about Costco memberships keep in mind they have a no questions asked membership refund policy. So if it isn't working out after nine months, you can get your full membership cost back. Content: we have a good cat who likes treats, but is getting older. We would not spend $30k on this cat. New York Times article: "How Caring for Dogs and Cats Explains Human Health Spending" http://mobile.nytimes.com/2017/01/09/upshot/how-caring-for-dogs-and-cats-explains-human-health-spending.html The article isn't alarming, but the comment section is interesting (lots of chat about euthanizing humans): quote:"I remember telling our financial planner that we would need $15,000 to $20,000 per year to pay for health care for our companion animals. At that time we cared for a dog who required monthly shots for Addison's disease, a cat who required daily insulin shots and other elderly cats who required supplements including B12 injections and special diets. Each of our companion animals needed at least two vet visits per year to check blood, weight and complications from their chronic diseases which can be costly. We had knowingly adopted animals with specials needs and limited our personal spending in other areas to accommodate their needs." quote:I got a $2500 emergency vet bill for my cat who swallowed an embroidery needle. quote:What you have in veterinary medicine and human medicine these days are increasing numbers of new physicians & veterinarians entering their professions saddled with hundreds of thousands of dollars in student loans. The perception that these new physicians & veterinarians are ever going to be "rich" is laughable.
|
|
#
?
Jan 9, 2017 19:26
|
|
|
Hyrax Attack! posted:Content: we have a good cat who likes treats, but is getting older. We would not spend $30k on this cat. When I was debating how much to spend to save our dog (probable liver failure, it was messy) I visited some pet enthusiast web forums where people were spending absolutely obscene amounts of money keeping their dogs and cats alive while usually acknowledging they were now broke. One lady complained about how pet health insurance is so much cheaper in Britain than in America. I have no idea why that'd be the case unless Brits are less likely to bankrupt themselves to save their Corgi's. Closer to home, my co-worker paid for doggie blood transfusions, which I didn't know was even a thing but cost $800 a pop. 4 of those bought his dog an extra two months of making GBS threads on himself.
|
|
#
?
Jan 9, 2017 19:36
|
|
|
Krispy Kareem posted:Closer to home, my co-worker paid for doggie blood transfusions, which I didn't know was even a thing but cost $800 a pop. 4 of those bought his dog an extra two months of making GBS threads on himself. My luxury companion animal isn't a dog, but isn't making GBS threads on themselves one of their top favorite activities? BWM, GWD (ogs).
|
|
#
?
Jan 9, 2017 20:04
|
|
|
Tiny Deer posted:My luxury companion animal isn't a dog, but isn't making GBS threads on themselves one of their top favorite activities? BWM, GWD (ogs). I had a dog that loved to sneak turds out of the cat box. GWM saved on litter and dog treats.
|
|
#
?
Jan 9, 2017 20:10
|
|
|
BWM coworker/friend 1: thinks our company stock dropping in price is good for us because "then we get more shares during ESPP purchase. if the stock goes up we get fewer shares, I want it to drop so I get lots of shares". Also someone who has nearly 100% of his savings locked up in our company stock because he believes in it so much. BWM coworker/friend 2: MBA graduate who's too self-conscious to admit lack of knowledge in anything, says "ESPP isn't for me because stock fluctuates regularly wihch makes it either severly illiquid or a long run stock", whatever that means, despite our company and myself making it very clear "it's bought at a discount regardless of how it fluctuates, it's free money, please do this." Final conclusion of ESPP: "idk not my cup of tea. Lol I'm investing in stocks, even though you hate those  "and before people ask, yes, our ESPP program is 15% of income, 15% discount, has lookback provision, and 0 restrictions on when you can sell some people cannot be helped
|
|
#
?
Jan 9, 2017 20:20
|
|
|
The term rich is so skewed these days since even 7 figure earners will look at 8 figure earners and consider themselves middle class. If you don't consider yourself at least 'upper class' at $250k+ then something is seriously wrong with your expenses and yes that even applies to living in SF.
|
|
#
?
Jan 9, 2017 20:23
|
|
|
Blinky2099 posted:BWM coworker/friend 1: thinks our company stock dropping in price is good for us because "then we get more shares during ESPP purchase. if the stock goes up we get fewer shares, I want it to drop so I get lots of shares". Also someone who has nearly 100% of his savings locked up in our company stock because he believes in it so much. If you are buying the ESPP and holding for a long time, then he is right that stocks plummeting 20-years before you want to cash them in is a good thing. If you are buying and selling immediately, then it doesn't make a big difference either way. His portfolio diversity plan is terrible, but his instincts are actually right. Leon Trotsky 2012 fucked around with this message at 20:32 on Jan 9, 2017 |
|
#
?
Jan 9, 2017 20:30
|
|
|
Leon Trotsky 2012 posted:If you are buying the ESPP and holding for a long time, then he is right that stocks plummeting 20-years before you want to cash them in is a good thing. I've had look-back prices in the past that quadrupled my 6-month contributions with zero risk. At a minimum I'm at least making 5% (the discount for my company) on every 6-month contribution and good luck beating that with a CD. If you always sell day one I don't even consider it speculating -- it's just collecting a guaranteed 5%-400% (different depending on company) on part of my salary every 6 months. Star War Sex Parrot fucked around with this message at 20:38 on Jan 9, 2017 |
|
#
?
Jan 9, 2017 20:33
|
|
|
Blinky2099 posted:and before people ask, yes, our ESPP program is 15% of income, 15% discount, has lookback provision, and 0 restrictions on when you can sell Mine had similar terms, except we don't actually receive the stocks for between 7-10 days after the price is set and I don't trust my company's stock not to drop 15% in that time.
|
|
#
?
Jan 9, 2017 20:56
|
|
|
Spikes32 posted:Mine had similar terms, except we don't actually receive the stocks for between 7-10 days after the price is set and I don't trust my company's stock not to drop 15% in that time. Still seems absolutely insane to not take it. you could probably buy puts to deleverage yourself and still end up guaranteed ahead
|
|
#
?
Jan 9, 2017 21:06
|
|
|
Good lord you guys have some good ESPPs. I get 5% off and I have to hold them 2 years before selling.
|
|
#
?
Jan 9, 2017 21:17
|
|
|
Twerk from Home posted:Good lord you guys have some good ESPPs. I get 5% off and I have to hold them 2 years before selling. Wow. I don't have ESPP but if I did, and it was like that, I'd laugh at them when they told me about it.
|
|
#
?
Jan 9, 2017 21:23
|
|
|
25% bonus up to $230 total per contribution for me ($1150 free money per year). Unfortunately we have to pay a $40 fee everytime we sell so I usually only sell once a year and then transfer the funds to a vanguard mutual fund.
|
|
#
?
Jan 9, 2017 21:24
|
|
|
Jesus christ the humblebragging ITT in the last few pages is unreal.
|
|
#
?
Jan 9, 2017 21:25
|
|
|
Gorman Thomas posted:25% bonus up to $230 total per contribution for me ($1150 free money per year). Unfortunately we have to pay a $40 fee everytime we sell so I usually only sell once a year and then transfer the funds to a vanguard mutual fund. This was a real roller coaster of emotions of a post.
|
|
#
?
Jan 9, 2017 21:26
|
|
|
https://www.reddit.com/r/personalfinance/comments/5mxvml/23_years_old_paid_a_bailbondsman_5k_for_my_dads/ posted:Tl;dr Paid $5k to a bailbondsman for my dad (bail was set at $50k), he fled the country. I'm stuck with the bail. It's been 90 days since the bench warrant; if he comes back, do I still need to repay full bail amount (50k)? Location : Maryland BWM: Bailing out your father, I guess
|
|
#
?
Jan 9, 2017 21:27
|
|
|
KingSlime posted:People exaggerating their income is a good thing to remember for sure. I myself overestimate by 5k when asked partially because it's freelance and changes per year and partially because I subconsiously want to be as close to the "success spectrum" as possible. I am a few k short of my main income goal I set for myself during college, at least at this age. And I'm pretty happy about that, my monthly expenses have stayed the same so I feel like a child with too much money during payday, at least for a glorious night or two during the week. Who asks someone how much they make? The fact that people ITT claim they know what other people make is really weird. Who does this poo poo?
|
|
#
?
Jan 9, 2017 21:30
|
|
|
n8r posted:Who asks someone how much they make? Not asking and not knowing leads to people getting screwed over in salary negotiations. Another way to keep the working man down.
|
|
#
?
Jan 9, 2017 21:31
|
|
|
BMW: me? I'm a few weeks away from buying a new Tacoma because I want something new for once.
|
|
#
?
Jan 9, 2017 21:32
|
|
|
My friends and I are really pretty open about how much we make. Why wouldn't we be? People who express outrage at such boorish behavior never really have any good reason to back up their stance on why we shouldnt talk about finances and income, though I often hear that it's "impolite," "really weird," or some other silly abstract term. I don't have any weird hang ups about sharing my salary or earnings, as it's valuable information that others can reference. It especially helps people with my skillset, my god people are hilariously underpaid all the time (lol but the market knows best rite?). I know I used this type of info in order to figure out where I want to get and how to get there. It's only the older farts who are insecure about muuuh financial privacy (or privacy in general). E: Or you come from a social circle of people who don't have to worry about day to day survival. People who enjoy a certain level of comfort or luxury start creating all sorts of social rules when they don't gotta waste energy worrying about their next meal I guess. KingSlime fucked around with this message at 21:49 on Jan 9, 2017 |
|
#
?
Jan 9, 2017 21:42
|
|
|
Business in the US has spent generations building a stigma around sharing salary information because sharing that information helps labor and cuts into the profits of the stakeholders. Many places will fire for it or at least make it sound like you'll get fired for it despite doing so being illegal, because how are you going to prove in court that that's the reason (if you can even afford to bring the case to trial)?
|
|
#
?
Jan 9, 2017 21:59
|
|
|
Lysandus posted:BMW: me? Considering that Toyota trucks will still be running after the heat death of the universe, I don't see that as BWM unless it's a lease-to-own.
|
|
#
?
Jan 9, 2017 21:59
|
|
|
Lysandus posted:BMW: me? Buy a 2014 with 25,000 miles instead.
|
|
#
?
Jan 9, 2017 22:00
|
|
|
i wouldnt buy anything before 2016, that was the previous generaiton so it'd be harder /expensive to get replacement parts for it. 2016 was the first year they did a refresh.
|
|
#
?
Jan 9, 2017 22:04
|
|
|
|
| # ? Jun 4, 2024 18:44 |
|
|
"Regular people don't like 'rich people'. I don't want to be disliked. Therefore, I am not a 'rich person', regardless of my seven-figure salary and eight-figure net worth." Simple as that.
|
|
#
?
Jan 9, 2017 22:07
|
|
