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monster on a stick posted:Maybe we can expand the thread to making fun of people who can't read Well, illiteracy strongly correlates to innumeracy soooo 
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Aug 6, 2017 04:01
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monster on a stick posted:Maybe we can expand the thread to making fun of people who can't read we're at page 132 it's been like 3 months since the op
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Aug 6, 2017 04:03
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curufinor posted:we're at page 132
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Aug 6, 2017 04:32
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Woooo doggy,this guy is looking worse and worse.monster on a stick posted:On life with a negative net worth (self.personalfinance) Income is projected in the range of $8k to $20k per month. It varies because it's all contingent fees and any given case has a 50-50-ish chance of winning or losing. The average fee on a win is $6k to the firm of which I keep $4k. I complete on average 2 cases a week. So assuming a conservative win rate of 50% (my actual win rate historically is around 70%) and a conservative pace of 1 case a week (my average so far at this firm has been 2 a week) a reasonable projection would be $8k per month. 8k/mo=96k/yr=~$58k/yr post-tax, $4800 a month post-tax. Additional income $1050 a month government pension Health care is covered by the VA So net take home is $5850 a month average (but likely more than that). Current debt situation: Student loans around $160k, in IBR with current payments at $200 a month expected to jump to $1500 a month in 2020 (IBR is recalculated on tax returns every 2 years; it was just done this spring and the next recalculation will likely show the higher income) Car $20k bal paying $550/mo (would be traded toward the van) House $35k bal paying $320/mo 2 credit cards carrying balances since law school, $11,000, paying $300/mo Non-debt monthly expenses total about $1100 a month: $300 travel related (some reimbursed, some not) $200 utilities $200 insurance $100 property taxes $300 food Interestingly I know that I could easily get by on just the military pension at this point if I wanted to simply by defaulting on my debts, of course I don't consider that an option and I prefer to work to live a slightly more comfortable life than one right on the poverty line. That helps me stay motivated, knowing I'm working not for survival but for a better life and to keep my promises. So with the current job I could be applying up to $4750 per month to the debt without the van. I'm currently leaning toward financing the van and I'm plotting to spend around $700 a month on it, which leaves me $4000 a month to whack debt. I've plotted my spreadsheet with $3000-$3500 per month going toward debt because I like to be conservative. I use a very simple sheet that just calculates interest and payment month-by-month, it's a pretty big table. At $3500 a month I'm debt-free except student loans and the van by the end of 2020, assuming I buy the van next May which is really the earliest time that I would feel safe doing it - I want to bank at least two full months income aside from debt payments before adding another major purchase. At that point there would still be about half of the van balance left along with most of the student loan balances... the destruction of those does look a little less optimistic. My spreadsheet is showing it all the way out to 2027 if I stay at $3500 a month all the way out and never increase it. My current thought it to start saving when I get down to just student loans, given the uncertainty about their future - specifically, whenever I do stop working, I could put them back into IBR and stop making payments on them, which makes me question the wisdom of devoting great resources to paying them down. I'm curious what leanfire's take on that approach is. I'm kinda planning to just start saving aggressively while still making the minimums on the student loans, depending on what the payment rate is under IBR at that time; it's possible that my income spikes high enough that I don't get any discount from IBR at all anymore. This is also where I get into uncomfortable territory with projections. I don't like counting on increases. This is the first time I've ever included a "raise" in my budget and the only reason I'm even thinking like this is that the money is already on the "accounts receivable" ledger at a rate far in excess of my wildest expectations. I earned (my share) $6500 this week. I don't expect that to be a typical week at all, but if it were I'd be able to attack debt at a rate of over $10,000 a month. Realistically I have to call that an overambitious goal; I don't have the personal capacity to sustain such a pace without hiring an assistant which I guess would probably cost me at least $35,000 a year, but even after that I'd still be doubling my current projections to attack debt. I don't want to "get my hopes up" by even running the numbers in that scenario. You are all probably right that I should hold off on such a large purchase, especially financing it. However I am pretty sure that this is something important to me and I don't mind working a little extra for it. I will probably explore alternative approaches to find the most prudent way to accomplish my actual goal. I spend a lot of time in /r/vandwellers reading their ideas and the like, there's a little bit of overlap between these two subs but clearly not that much. One key difference I have with most vandwellers is that I have a "serious" job I have to get back to by Tuesday of most weekends, so I don't have the option of buying a 20 year old rustbucket for $1500 and just hoping that I'm not too far from a mechanic when the transmission goes. I actually need the reliability of a new/er vehicle regardless of whether it's my current station wagon or my future van.
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Aug 6, 2017 04:53
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Would be fun to have a 4wd sprinter van done up like a Paris to Dakar rally vehicle for camping though.
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Aug 6, 2017 05:35
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/r/vandwellers 
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Aug 6, 2017 08:11
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He's planning on trading in his car, so he's just going to rock up to the office and to court in his van-home I guess? If he had much self-insight, he would realise that his massive over the top detailed justification on why buying an RV is perfectly great and in line with his early retirement plans despite his large debt load is just a new avenue for his previous spending problem. You don't go from living beyond your means and carrying consumer debt since law school to a van-dwelling early retirement guru overnight. He likes spending money, but now he's tracking his expenses and not spending money the way he used to. He's looking to scratch that spending money instant gratification itch by making a massive purchase and justifying as some kind of 180 lifestyle change. Cognitive dissonance 101: he wants to save money to retire early but also has a habit of spending money. Justify spending money with crazy rambling magic numbers and presto, spending a huge amount of money doesn't conflict with his desire to save and retire early.
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Aug 6, 2017 11:24
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Enfys posted:He's planning on trading in his car, so he's just going to rock up to the office and to court in his van-home I guess? Slo-Mo syndrome.
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Aug 6, 2017 13:44
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Enfys posted:He's planning on trading in his car, so he's just going to rock up to the office and to court in his van-home I guess? Also, I wanted to say that a 70% win rate in contested proceedings is bullshit. Either the firm is giving him softballs to get him started, he's cherry picking cases, or he's just gotten lucky so far. Cherry picking only works when the economy is good. So no matter what, he's due for a correction. Also, if the true rate is 50-50 like he claims, then he could just as easily go 30% win rate for a sustained period due to variance and low sample size. Binomial probability says that if he does 2 cases a week for 10 years, there's a better than 90% chance he'll have a month with no income in that time period.
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Aug 6, 2017 13:50
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Could own it, be The Wandering Attorney, going where'er the cases are and loyally following your client all the way to DC if necessary.
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Aug 6, 2017 14:04
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Inescapable Duck posted:Could own it, be The Wandering Attorney, going where'er the cases are and loyally following your client all the way to DC if necessary. Worked for this guy: https://en.wikipedia.org/wiki/The_Lincoln_Lawyer_(film) (Yes, I know it's fictional.)
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Aug 6, 2017 14:10
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[quote="“Inescapable Duck”" post="“475087913”"] Could own it, be The Wandering Attorney, going where’er the cases are and loyally following your client all the way to DC if necessary. [/quote] Lawyers need a gimmick or a catchy phrase. We’ve got one who calls himself the ‘bald lawyer’. Like that’s his whole advertising campaign is ‘Call the Bald Lawyer!’ We’ve got another one whose billboards show him with tattoos, a Black sidesick, and a hot woman. Van Lawyer! Call now. Yo hablo Españo.
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Aug 6, 2017 15:06
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I am Ronin (Esq.) I have no master. Except your case! Call 1-800-HURT-JOB
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Aug 6, 2017 15:23
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People still hire this guy in austin, in spite of his billboard. Living in a van would only be like the 4th weirdest attorney I can think of.
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Aug 6, 2017 15:36
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I'm Jim THE HAMMER Shapiro! I cannot rip out the hearts of those whove harmed you! I cannot hand you their severed heads! I can run them over in my van slash house though! Those middle two lines are actually things he said in commercials. Jim THE HAMMER Shapiro and his phone number are burned into my brain forever
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Aug 6, 2017 16:50
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Jim THE HAMMER Shapiro sounds like he defends ME, not the evil blah blah blahhttps://www.reddit.com/r/personalfinance/comments/6rwzyk/just_lost_around_60k_which_is_now_worth_100k_due/ posted:Just lost around 60k which is now worth 100k due to inflation of the stock Just to clarify, he convinced two friends to invest in crypto, then used that money to gamble, which he promptly lost. Then the crypto ended up doing well so now he owes his friends money he doesn't have.
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Aug 6, 2017 17:09
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monster on a stick posted:convinced two friends to invest in crypto, then used that money to gamble Seems like he kept up his end of the bargain.
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Aug 6, 2017 17:11
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Subjunctive posted:Seems like he kept up his end of the bargain. I don't see why he doesn't just go tell his friends "look at all the money you made, now get your friends/family to send me money to invest in bitcoin" then use that money to pay his friends back.
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Aug 6, 2017 17:13
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BENGHAZI 2 posted:I'm Jim THE HAMMER Shapiro! I cannot rip out the hearts of those whove harmed you! I cannot hand you their severed heads! I can run them over in my van slash house though! Holy poo poo https://www.youtube.com/watch?v=Q5hn8bhEpMY
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Aug 6, 2017 17:14
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how are you even supposed to say SFYL if the marks know you, hmm
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Aug 6, 2017 17:22
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got nothing on Texas https://www.youtube.com/watch?v=HL3MxAH-kDI https://www.youtube.com/watch?v=Lj7uW1c42YY https://www.youtube.com/watch?v=GmZiqwRnwtM https://www.youtube.com/watch?v=zJCH1gk3D8s
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Aug 6, 2017 17:24
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C.H.O.M.E posted:People still hire this guy in austin, in spite of his billboard. Not only is Komie not that great an attorney, his band is also pretty terrible.
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Aug 6, 2017 18:12
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That's why he still has his day job.
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Aug 6, 2017 18:25
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Yeah he was apparently regional as gently caress so only kids who grew up in the 90s in like Syracuse or buffalo know about him but he was a TREASURE
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Aug 6, 2017 18:53
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C.H.O.M.E posted:People still hire this guy in austin, in spite of his billboard. Battlefield Earth sucked.
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Aug 6, 2017 19:18
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Just going to point out that a 70% win rate in contested cases is actually low, assuming these are PI contingency fee cases. You cherry pick every single case and you seek 99% of them at a level that makes you money. PI lawyers aren't doing it to fight the man, they're doing it to make money. Moral victories don't pay the bills.
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Aug 6, 2017 19:28
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BENGHAZI 2 posted:Yeah he was apparently regional as gently caress so only kids who grew up in the 90s in like Syracuse or buffalo know about him but he was a TREASURE I had family in Rochester and visited all the time and don't remember seeing this guy and now I feel ripped off because he's something 
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Aug 6, 2017 21:23
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Mr. World posted:Not only is Komie not that great an attorney, his band is also pretty terrible. Which venue do I need to go to to see this band
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Aug 6, 2017 22:30
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ate all the Oreos posted:I had family in Rochester and visited all the time and don't remember seeing this guy and now I feel ripped off because he's something HAVE YOU OR A LOVED ONE BEEN PREVIOUSLY RIPPED OFF IN YOUR CHILDHOOD? CALL JIM "THE HAMMER" SHAPIRO TODAY!
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Aug 6, 2017 22:47
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SpelledBackwards posted:HAVE YOU OR A LOVED ONE BEEN PREVIOUSLY RIPPED OFF IN YOUR CHILDHOOD? CALL JIM "THE HAMMER" SHAPIRO TODAY! He no longer practices law in new York, he may in Florida still but iirc he just writes books now
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Aug 6, 2017 23:23
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Hot Dog Day #91 posted:Just going to point out that a 70% win rate in contested cases is actually low, assuming these are PI contingency fee cases. You cherry pick every single case and you seek 99% of them at a level that makes you money. PI lawyers aren't doing it to fight the man, they're doing it to make money. Moral victories don't pay the bills.
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Aug 7, 2017 00:10
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C.H.O.M.E posted:People still hire this guy in austin, in spite of his billboard. When did Rob Zombie start practicing law?
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Aug 7, 2017 03:14
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BWM, stupid with money and national news bad with money. https://www.stuff.co.nz/national/95482996/hamilton-couple-hit-with-50000-bill-from-finance-company quote:The large home in rural Tamahere, on the outskirts of Hamilton, was repossessed by FM Custodians Ltd in August 2015, while the occupiers - Robert Hoani Clifford Cribb and Karen Lynne Stevens - were in Europe. Cribb and Stevens failed to give FM Custodians an address to shift their house full of furniture to, so FM Custodians packed it up into five containers and stored it with a local removal company. Eighteen months later, when Cribb and Stevens sprung their possessions from Allied Pickford, they refused to pay the $50,000-plus for the removal and storage costs. When you're $11m in the hole why worry about another $51k?
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Aug 7, 2017 03:49
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I wonder if the Commonwealth Bank counts. A scandal is brewing where a in 2012 they released ATMs that could do large cash deposits and despite warnings this soon had become the outlet of choice for money laundering. Additionally despite fail-safes that flag anything over $10,000, the bank appears to have let things slide by not reporting irregularities to investors. Such as multiple deposits under 10k. It's been estimated 8 billion has deposited without any investigation from the bank. They are sitting on theoretical fines of nearly one billion. BogDew fucked around with this message at 05:22 on Aug 7, 2017 |
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Aug 7, 2017 05:13
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WebDog posted:I wonder if the Commonwealth Bank counts. A scandal is brewing where a in 2012 they released ATMs that could do large cash deposits and despite warnings this soon had become the outlet of choice for money laundering. *trillion http://www.abc.net.au/news/2017-08-07/cba-ceo-says-mistakes-were-made,-but-he-wont-be-standing-down/8780270
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Aug 7, 2017 05:26
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Dillbag posted:*trillion I was going to say I wasn't even aware that there were 8 trillion physical dollars in existence but then I realized
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Aug 7, 2017 05:55
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Dik Hz posted:If your win rate is 70% and you only settle one case a week, you're not taking enough cases. All PI clients shop around a ton. I'm not sure that dude is PI, though. Ace Attorney lied to me. (Though they are specialists in criminal defense. Also, the teenage stage magician is the one paying most of the bills) Doesn't the USA have a huge glut of lawyers?
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Aug 7, 2017 06:18
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Dillbag posted:*trillion 
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Aug 7, 2017 06:43
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Seriously this. Or at least jail time in regular old prison, not white collar prison. There are no consequences for failure for either the banks (as a corporate entity) or the people who run them. Oh I made $4 million a year as CEO for the last five years and I get a $40 million severance if I leave for any reason up to and exceeding "ran the place into the loving ground"? Boo hoo hoo, whatever will I do with the rest of my life and my golden yachts. Put some actualy consequences into white-collar crime and we might start making progress as a society again. They gently caress people up over minor drug possession or "stole a hundred dollars from a store", but leech a million times that from society as a whole and you get on the Who's Who list.
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Aug 7, 2017 13:09
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Weatherman posted:Seriously this. Or at least jail time in regular old prison, not white collar prison. It will never happen. Systems of wealth exist to preserve the wealth and the people that have it. The only way to go to jail if you're rich is to kill or steal from another rich person.
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Aug 7, 2017 13:35
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