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Enfys posted:Some crazy lady is posting about paying an accountant in leggings, but half the thread never notices any actual content anymore because they are constantly tripping over themselves to remind each other that horses exist and that many years ago, Ruddha made a funny post i'm lost, is this a post about horses being BWM?
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Feb 19, 2018 12:58
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"No no, it's not a pyramid, it's a wealth triangle!"
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Feb 19, 2018 13:46
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Someday I will find proof of a MLM company that pays out in trailer delivered horses.
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Feb 19, 2018 13:51
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Enfys posted:Some crazy lady is posting about paying an accountant in leggings, but half the thread never notices any actual content anymore because they are constantly tripping over themselves to remind each other that horses exist and that many years ago, Ruddha made a funny post Poor old Enfys, thought of goons and cried
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Feb 19, 2018 14:04
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Bad With Memes: random horseshit
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Feb 19, 2018 14:17
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https://www.reddit.com/r/personalfinance/comments/7nz4fh/served_with_a_lawsuit_for_a_debt_that_has_not/Served with a lawsuit for a debt that has not been reported to credit in over 5 years posted:Young and stupid me wanted to go to a fancy technical college back in 2004. I accrued a total of roughly $20,000 in private student loan debt through Sallie Mae. Being young, dumb, and poor, I always avoided the collectors, and after about seven years, the debt disappeared from my credit report. People stopped calling, it appeared as if a miracle had occurred...
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Feb 19, 2018 15:19
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Good Parmesan posted:https://www.reddit.com/r/personalfinance/comments/7nz4fh/served_with_a_lawsuit_for_a_debt_that_has_not/ Now I’m confused. Why would it disappear from his report?
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Feb 19, 2018 17:08
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Youth Decay posted:Bad With Money 2018: Maybe I could pay the accountant in leggings This hurts to look at. Like, they had to know they were in trouble before this, right? ...right? obligatory: they don't even know they're in trouble now
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Feb 19, 2018 17:33
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Dick Nipples posted:Now I’m confused. Why would it disappear from his report? No action for 7 years and it should disappear. That doesn't mean the debt itself is gone. Now it's accrued enough interest that they want to sue him for it, and because of our hosed up private student loan laws he is just as liable for the debt as if it were a government loan.
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Feb 19, 2018 17:49
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Man, cash gifts from family are always a bad idea unless they're 100% no strings attached, no power granted to the giver. My grandparents left me a $40k trust when I was born, and my parents said I could use it as a down-payment on a house some 12 years ago. I've since paid off the 80% that was financed, but technically it's owned outright by the trust and so I need my parents to sign off on a sale. They're refusing to sign because I'm being "unappreciative" by wanting to sell and buy something else. OH well! At least when I'm 40 I become the owner, unless my parents get mad at me one day between now and then? I'm considering that money gone because I refuse to be controlled in any way for any sum of money, but the whole thing is very gross and not doing our relationship any favors. (USER WAS PUT ON PROBATION FOR THIS POST)
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Feb 19, 2018 18:12
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Spokes posted:This hurts to look at. Like, they had to know they were in trouble before this, right? I like that the 'boutique' is one of those pre-built sheds from Lowe's or Home Depot.
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Feb 19, 2018 19:07
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GoGoGadgetChris posted:Man, cash gifts from family are always a bad idea unless they're 100% no strings attached, no power granted to the giver. Maybe they don’t like your future wife that flipped at the thought of signing a prenup?
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Feb 19, 2018 19:13
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GoGoGadgetChris posted:Man, cash gifts from family are always a bad idea unless they're 100% no strings attached, no power granted to the giver. You probably hosed this up by not taking the money out of trust to buy the house, then putting the house in a new trust just for you. Pretty sure that's how it normally works.
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Feb 19, 2018 19:14
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Oh yeah, there's a million and one ways I could've avoided this. I'm not trying to say "how could this have happened!!". Accepting money from family is BWM unless it's literally "here's some cash, do whatever you want with it and never pay it back"
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Feb 19, 2018 19:18
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GoGoGadgetChris posted:Oh yeah, there's a million and one ways I could've avoided this. I'm not trying to say "how could this have happened!!". Have you actually verified that the title is how you think it is? Maybe spend an hour with an attorney to lay out the options.
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Feb 19, 2018 19:22
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How did the trust get sole title to your house, why would any real estate attorney or mortgage underwriter recommend such a situation if you were presumably the sole mortgage debtor? I would suggest you just rent it out as an investment property and buy a new house to live in that you wish to occupy but since the trust owns your house you don't really even have any say in that decision.
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Feb 19, 2018 19:39
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GoGoGadgetChris posted:Oh yeah, there's a million and one ways I could've avoided this. I'm not trying to say "how could this have happened!!". You gotta ask how much your pride is worth. Because in this day and age having a chunk of money that allows you to be a homeowner has a lot of long term potential,even with the downsides. My friend married into a rich family that was like that. He got talked into him and his wife moving into his in law's place. They were going to move out of state and planned to just give my friend and his wife the house. The catch was that they didn't actually move out for 2 years, the house was a cluttered mess because the in laws were hoarders, and my friend seemed kind of miserable. But his in laws did honor their promise and fully transfered the house to them, so in hindsight it seemed worth it to get a house out of the deal.
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Feb 19, 2018 19:57
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GoGoGadgetChris posted:Man, cash gifts from family are always a bad idea unless they're 100% no strings attached, no power granted to the giver. Lol @ family being the executor for other family in wills/trusts. That sucks and your parents are being dumb.
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Feb 19, 2018 22:05
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Parents are being not nice, but dumb was agreeing to let the family trust take full title of your house that you pay the mortgage on and live in.
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Feb 20, 2018 02:11
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BEHOLD: MY CAPE posted:Parents are being not nice, but dumb was agreeing to let the family trust take full title of your house that you pay the mortgage on and live in. And also paying the mortgage entirely off at the same time!
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Feb 20, 2018 02:13
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Mo' money, mo' problems.
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Feb 20, 2018 02:14
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Yeah, I got owned pretty thoroughly on this one. I was 22 and had no clue what I was doing. My parents are legitimately mentally ill and try to control their children with money. They were very opposed to me taking the high paying job that I got out of college and I think this was a plan to try and siphon as much of my net worth away as possible to try and maintain control. Family!
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Feb 20, 2018 02:28
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BEHOLD: MY CAPE posted:How did the trust get sole title to your house, why would any real estate attorney or mortgage underwriter recommend such a situation if you were presumably the sole mortgage debtor? I would suggest you just rent it out as an investment property and buy a new house to live in that you wish to occupy but since the trust owns your house you don't really even have any say in that decision.
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Feb 20, 2018 02:30
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GoGoGadgetChris posted:Yeah, I got owned pretty thoroughly on this one. I was 22 and had no clue what I was doing. Sue the trust. This is my advice for you. If that doesn't work get your parents committed to a home for the mentally ill and take over their decision making. Place them in the cheapest care facility you can find.
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Feb 20, 2018 02:30
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Nah... the whole thing was just confirmation of my longstanding suspicion that they're crazy/bad people. It's Family Tradition for the past 4 generations that the parents are huge pieces of poo poo that manipulate their children in exchange for inheriting The Family Fortune, but the family money has shrunk enough and my siblings and I are highly paid enough that we mostly are just sad that our parents suck
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Feb 20, 2018 02:36
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gvibes posted:It seems somewhat common for rich people to have houses titled in the name of a trust. Everyone should have their house in a trust. The key is one that is managed by you for your benefit. Not one managed by your crazy parents until you are 40.
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Feb 20, 2018 03:30
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GoGoGadgetChris posted:Nah... the whole thing was just confirmation of my longstanding suspicion that they're crazy/bad people. There are plenty of parents out there who don't know why their kids won't contact them. It sounds rather frustrating. It sounds like the family fortune is at the point where you could only buy a boat for your horse too.
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Feb 20, 2018 03:56
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GoGoGadgetChris posted:Man, cash gifts from family are always a bad idea unless they're 100% no strings attached, no power granted to the giver. GoGoGadgetChris posted:Yeah, I got owned pretty thoroughly on this one. I was 22 and had no clue what I was doing.
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Feb 20, 2018 04:18
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GoGoGadgetChris posted:Nah... the whole thing was just confirmation of my longstanding suspicion that they're crazy/bad people. Multigenerational wealth really is the worst. Quick someone post the gullotine image.
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Feb 20, 2018 06:38
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Hey GWM goons an uncle passed and in the will I inherited a small investment account he had. It has roughly 22k in long stock (ARRY, FB, SHOP) and performing well. My question is, I have some student debt around 14k total. I am paying $200 a month and about to refinance. Would the GWM option be to sell whatever I can and pay that off and use whatever left over to start a new portfolio? I work in real estate so money is good but sporadic.
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Feb 20, 2018 07:07
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Lando Kardashian posted:Hey GWM goons Reported
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Feb 20, 2018 07:13
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Lando Kardashian posted:Hey GWM goons can't do better than 17% a month in your investments (assuming 200 is the interest... which is, like, wtf, so prolly not the case), so sure, pay debt, unless you have liquidity probs dunno if you should start a new portfolio or whatever, just pay that debt (2400 / 14000 = 0.17)
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Feb 20, 2018 07:20
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Lando Kardashian posted:Hey GWM goons This is the bad with money thread, go do something terrible with your money and we can talk about you. Consider buying two horses and stabling them on a boat and you can sell their offspring for mega profits! You want the good with money thread!
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Feb 20, 2018 07:41
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bob dobbs is dead posted:can't do better than 17% a month in your investments (assuming 200 is the interest... which is, like, wtf, so prolly not the case), so sure, pay debt, unless you have liquidity probs Lando Kardashian posted:Hey GWM goons
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Feb 20, 2018 07:41
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Lando Kardashian posted:Hey GWM goons
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Feb 20, 2018 07:43
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thanks to your advice goons I opened a margin account with my credit card and maxed the limit on a 3x leveraged fund on SE Asian horse hay futures!
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Feb 20, 2018 07:56
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SiGmA_X posted:S/he said $14k in debt with payments of $200/mo. Why would up assume the $200 is interest?? No way is that debt 17%, maybe 6.8% at most. yah you're right serves me for not sleeping for 2 days
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Feb 20, 2018 08:01
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Lando Kardashian posted:Hey GWM goons This is the most active thread, but it's not for advice. This one is the go-to for that: https://forums.somethingawful.com/showthread.php?threadid=3256838
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Feb 20, 2018 10:36
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Lando Kardashian posted:thanks to your advice goons I opened a margin account with my credit card and maxed the limit on a 3x leveraged fund on SE Asian horse hay futures! Fun fact: if you stuff hay in a shipping container for export, it’s considered a dangerous good. Dangerous goods: bad for money.
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Feb 20, 2018 13:32
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FrozenVent posted:Fun fact: if you stuff hay in a shipping container for export, it’s considered a dangerous good. I grew up in a rural area and learned that if you tried to bale Hay when it was too wet it would start to decompose, which then released heat, which could then cause it to spontaneously combust. Even if it didn’t, it could scorch and be inedible to your livestock
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Feb 20, 2018 15:23
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