Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

Hoodwinker posted:

I know I am fairly good at seeing what will be the next big thing or what company will succeed. Also, seeing a pattern in something is my strong suit.

oh my goodness, hahahaha, the two parts of our brain that make us so bad at investing and OP is beaming with pride over them.

# ? Apr 13, 2018 20:31

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# ? May 18, 2024 02:40

Hoodwinker: Nov 7, 2005

Moneyball posted:

Sorry, I had to

I'm honored.

# ? Apr 13, 2018 20:31

Sirotan: Oct 17, 2006; Sirotan is a seal.

quote:

The problem is I can spend maybe only $100-200 a month on the stock. Plus I have a fairly vague idea of stock.

hi yes I'd like to order one stock please

# ? Apr 13, 2018 20:37

Hoodwinker: Nov 7, 2005

"I clearly know nothing about either of these things, but everybody else is doing this one thing (for some reason lol) so I'm going to do this other thing." - that guy

# ? Apr 13, 2018 20:38

Hoodwinker: Nov 7, 2005

High salary but financial problems?

quote:

Hi i'm new to reddit and i work in germany. Seeing all the post about people getting +100k as salary i wonder how people are not rich as gently caress and have financial issues? Can someone elaborate? I'm curious

Just because of this thread's nature I feel the need to link to this post.

# ? Apr 13, 2018 20:41

legendof: Oct 27, 2014

I've just realized that the voice I hear in my head when I read all of these r/personalfinance posts is the how is prangent formed guy.

# ? Apr 13, 2018 20:48

Rotten Red Rod: Mar 5, 2002

I love how he seems to think IRA is a guy or a company or something. "I have a friend who was forced to work other few extra years because IRA messed up so badly."

Edit:

quote:

Alright, will look into it. I just don't like to give my money to someone and hope they do good job. If I am going to lost money, I'd rather to know it is my fault instead of thinking "I shouldn't had handed that person my money!"

Seriously he thinks he's giving his money to a guy named Ira

# ? Apr 13, 2018 21:16

Droo: Jun 25, 2003

Hoodwinker posted:

High salary but financial problems?

Just because of this thread's nature I feel the need to link to this post.

That guy is from Germany and seems confused by our lack of paid vacation time, expensive health insurance, self-funded retirement costs and also apparently the fact that we quote salaries before taxes are taken out.

# ? Apr 13, 2018 21:19

GoGoGadgetChris: Mar 18, 2010; i powder a
granite monument
in a soundless flash

showering the grass
with molten drops of
its gold inlay

sending smoking
chips of stone
skipping into the fog

I'm pretty sure it's a troll pretending to be Vincent Adultman (3 kids in a coat from Bojack Horseman)

# ? Apr 13, 2018 21:21

GamingHyena: Jul 25, 2003; Devil's Advocate

Rotten Red Rod posted:

I love how he seems to think IRA is a guy or a company or something. "I have a friend who was forced to work other few extra years because IRA messed up so badly."

Edit:

Seriously he thinks he's giving his money to a guy named Ira

Since they no longer rob banks and went semi legit IRA has been a terrible investment.

# ? Apr 13, 2018 21:41

ChickenOfTomorrow: Nov 11, 2012; god damn it, you've got to be kind

the market for used armalites isn't as brisk as you'd think

# ? Apr 13, 2018 21:57

canyoneer: Sep 13, 2005; I only have canyoneyes for you

GamingHyena posted:

Since they no longer rob banks and went semi legit IRA has been a terrible investment.

In ~~Soviet Russia~~ USA, banks rob you!

# ? Apr 13, 2018 22:06

Hoodwinker: Nov 7, 2005

Droo posted:

That guy is from Germany and seems confused by our lack of paid vacation time, expensive health insurance, self-funded retirement costs and also apparently the fact that we quote salaries before taxes are taken out.

Aren't we all, though?

# ? Apr 13, 2018 22:17

KingSlime: Mar 20, 2007; Wake up with the Kin-OH GOD WHAT IS THAT?!

No some of us are very proud of our lack of paid vacation time, expensive health insurance, self-funded retirement costs, etc

Extremely, stupidly, unapologetically proud

# ? Apr 14, 2018 00:40

Doc Hawkins: Jun 15, 2010; Dashing? But I'm not even moving!

Sirotan posted:

hi yes I'd like to order one stock please

of course sir, that will be five money

# ? Apr 14, 2018 01:06

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

Rotten Red Rod posted:

I love how he seems to think IRA is a guy or a company or something. "I have a friend who was forced to work other few extra years because IRA messed up so badly."

they want the six or whatever counties back

oh come out ye black an tans etc etc

# ? Apr 14, 2018 01:32

therobit: Aug 19, 2008; I've been tryin' to speak with you for a long time

ChickenOfTomorrow posted:

the market for used armalites isn't as brisk as you'd think

You would think with that catchy song they would have done better. Maybe it needs an update for the new era?

# ? Apr 14, 2018 01:32

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

goddamn, shows me for not readin

# ? Apr 14, 2018 01:33

therobit: Aug 19, 2008; I've been tryin' to speak with you for a long time

bob dobbs is dead posted:

goddamn, shows me for not readin

It's ok it was still funny. IRA songs are the most hilarious genre.

# ? Apr 14, 2018 01:36

ohgodwhat: Aug 6, 2005

This looks BWM for the government and old people

https://www-m.cnn.com/2018/04/13/opinions/i-want-same-tax-cut-deal-apple-has-opinion-ripp/

# ? Apr 14, 2018 02:18

AreWeDrunkYet: Jul 8, 2006

ohgodwhat posted:

This looks BWM for the government and old people

https://www-m.cnn.com/2018/04/13/opinions/i-want-same-tax-cut-deal-apple-has-opinion-ripp/

quote:

That means every dollar drawn from my pension plan today would yield only 63 cents. It's like holding the keys to a brand-new Mercedes, knowing the moment you drive off the lot it becomes a used Saturn with rust buildup and worn brake pads.

quote:

Consider that for married couples filing a joint return for 2018 with a combined income of more than $315,000 -- substantial compensation, but hardly big-shot bucks in major urban markets such as New York -- the federal tax bite is a hefty 32%.

Yeah, gently caress that guy.

# ? Apr 14, 2018 02:24

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

AreWeDrunkYet posted:

Yeah, gently caress that guy.

YEAH!

Saturns don�t rust. At least not in as many places like other cars. Get it straight dude who doesn�t want to pay taxes on his retirement.

# ? Apr 14, 2018 02:32

Proposition Castle: Aug 9, 2004; Witty message goes here.

Hoodwinker posted:

I'm about to start trying my hands at stock.

Well, why aren't everybody rich?

HOW IS MONY FORMED? HOW HOW WALLET GET PREGNANT?

# ? Apr 14, 2018 02:51

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

vc dealio i subscribe to posted:

In fact, the "AI for X" trend is so on fire it�s taken on the unlikeliest of verticals.

For example, just this week Vani Khosla (daughter of Vinod Khosla of Khosla Ventures) invested in a $1.2M angel round to Magic AI Corp, which has created an AI for horses product called Stableguard. Qualcomm Ventures is also a backer.

Stableguard is a platform that uses data, surveillance, and algorithms to always be sure your horses have been blanketed, fillies are fed and mellowing out, and that Mr. Ed�s water bucket is always brimming over.

Believe it or not, it has a competitor in Sweden�s Hoofstep.

The horsey stuff might be laughed at as a pastime for the 1%, but let�s not forget polo ponies get $25K and above, and racehorses go for hundreds of thousands. The Kentucky Derby next month will have a payout above $1.2M.

So, if your hoofed pet costs more than a lambo you�re definitely going to shell out for Stableguard�or Hoofstep.

# ? Apr 14, 2018 03:34

bob dobbs is dead: Oct 8, 2017; I love peeps; Nap Ghost

tbh, this business stuff is what the internet of poo poo is actually suited for

it's just that it'll be the internet of poo poo because b2b doesn't mean that the security is any better than b2c, even if you try auditing peeps

# ? Apr 14, 2018 03:36

Raldikuk: Apr 7, 2006; I'm bad with money and I want that meatball!

AreWeDrunkYet posted:

Yeah, gently caress that guy.

gently caress him doubly cuz he doesn't even understand how tax brackets work. With their assumption of $315k per year they won't even hit the 32% tax bracket at all with the standard deduction factored in. And once you actually calculate out their tax liability correctly it is more like 19.5%.

I hope they're the type that turned down raises because they didn't want to "lose money".

quote:

$315,000 -- substantial compensation, but hardly big-shot bucks in major urban markets such as New York -- the federal tax bite is a hefty 32%. As much as 10% more vanishes if state and local taxes are factored in. For couples earning $165K-$315K, federal taxes will taketh away 24% in that bracket. And those percentages are actually a drop from what rates were in 2017.

Look at this dummy who CNN decided to give a commentary to. Just lol. And apparently our dear author is in the 37% tax bracket eating away 37 cents for every dollar he earns! What's funny is his proposal is a flat 15% tax on it, and for most people they could easily reach that by not drawing down $315k per year. We can argue about corporate taxes all we want but if you're drawing down $315k/year from a 401(k) and don't even understand how to calculate your tax rate, then stfu

# ? Apr 14, 2018 03:41

GamingHyena: Jul 25, 2003; Devil's Advocate

quote:

Although I've passed the gateway age of 59� when funds can be withdrawn without penalty, I'm still working full tilt in the highest tax bracket of 37%. That means every dollar drawn from my pension plan today would yield only 63 cents. It's like holding the keys to a brand-new Mercedes, knowing the moment you drive off the lot it becomes a used Saturn with rust buildup and worn brake pads.

There wasn't a 37% tax rate in 2017 so I wonder how much you'd need to make in 2018.

code:

Individuals                    Married Filing Jointly
10% 	Up to $9,525 	        Up to $19,050
12% 	$9,526 to $38,700 	$19,051 to $77,400
22% 	38,701 to $82,500 	$77,401 to $165,000
24% 	$82,501 to $157,500 	$165,001 to $315,000
32% 	$157,501 to $200,000 	$315,001 to $400,000
35% 	$200,001 to $500,000 	$400,001 to $600,000
37% 	over $500,000 	        over $600,000

So this guy is bitching because every dollar he's pulling out of his retirement account above his currently salary of (at least) $500,000 is taxed at a high rate? Why do the biggest idiots make the most amount of money?

# ? Apr 14, 2018 04:00

Raldikuk: Apr 7, 2006; I'm bad with money and I want that meatball!

Lol I guess I'm a bit of the dummy for thinking he meant it was all from his retirement account.

# ? Apr 14, 2018 05:10

SiGmA_X: May 3, 2004; SiGmA_X

AreWeDrunkYet posted:

Yeah, gently caress that guy.

That was a really, really dumb ...oped?

# ? Apr 14, 2018 06:31

Enchanted Hat: Aug 18, 2013; Defeated in Diplomacy under suspicious circumstances

Look, the poor man is only making at $500,000+ a year. If they charge him 37% on all of that, that leaves him with only $315,000 a year to cover his expenses. Have you ever tried to live on only $315,000 a year? Next door to impossible!

yes i'm ignoring tax brackets, he'd have significantly more

# ? Apr 14, 2018 10:19

Randler: Jan 3, 2013; ACER ET VEHEMENS BONAVIS

Droo posted:

That guy is from Germany and seems confused by our lack of paid vacation time, expensive health insurance, self-funded retirement costs and also apparently the fact that we quote salaries before taxes are taken out.

Salaries are quoted as gross in Germany as well. Healthcare and retirement has to be paid and supplemented on an individual level as well and isn't half as cheap as Non-Euros tend to believe. (And don't get me started on VAT.)

Americans being way better off in monetary terms compared to Euros in a corresponding profession is a real thing even if you do not look at the outliers like SV techjobs, lawyers and medical doctors.

# ? Apr 14, 2018 12:01

Cicero: Dec 17, 2003; Jumpjet, melta, jumpjet. Repeat for ten minutes or until victory is assured.

Randler posted:

Salaries are quoted as gross in Germany as well. Healthcare and retirement has to be paid and supplemented on an individual level as well and isn't half as cheap as Non-Euros tend to believe. (And don't get me started on VAT.)

I thought the employee contribution for healthcare premiums was just ~4%, which works out to be a lot better than the US for most people I think.

quote:

Americans being way better off in monetary terms compared to Euros in a corresponding profession is a real thing even if you do not look at the outliers like SV techjobs, lawyers and medical doctors.

For white collar professional jobs, yeah. There are some where Germans are a lot better off though I think.

# ? Apr 14, 2018 22:38

22 Eargesplitten: Oct 10, 2010

Like waiters.

# ? Apr 14, 2018 22:39

Krispy Wafer: Jul 26, 2002; I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat; Grimey Drawer

Randler posted:

Salaries are quoted as gross in Germany as well. Healthcare and retirement has to be paid and supplemented on an individual level as well and isn't half as cheap as Non-Euros tend to believe. (And don't get me started on VAT.)

Americans being way better off in monetary terms compared to Euros in a corresponding profession is a real thing even if you do not look at the outliers like SV techjobs, lawyers and medical doctors.

I'm pretty sure America is the best place to be upper-middle class. You've got higher income than comparable jobs in other countries in addition to good benefits and a low overall tax rate.

It's not so good to be working class or poor. Oh, being White helps too. Best country in the world if you're White and upper-middle class. Your mileage may vary as you get progressively poorer and/or darker.

# ? Apr 14, 2018 22:47

Liquid Communism: Mar 9, 2004; коммунизм хранится в яичках

GoGoGadgetChris posted:

But the loan balance goes DOWN and the investment balance goes UP

NUMBER go UP? INFINITE PROFITS!

Wait, this isn't the cryptocurrency thread...

# ? Apr 15, 2018 01:39

Blinkman987: Jul 10, 2008; Gender roles guilt me into being fat.

Krispy Wafer posted:

I'm pretty sure America is the best place to be upper-middle class. You've got higher income than comparable jobs in other countries in addition to good benefits and a low overall tax rate.

It really is. Don�t forget that America also has relatively open views on casual sex too. And when you�re upper middle class you can use drugs and nobody really bothers you. Plus, unparalleled entertainment options available at all times. America is drat good if you�re in that earnings bracket, can stay in the earnings bracket for 35 or so years, and manage the fear of ever slipping into the working poor knowing there�s little hope to ever get back to where you were.

Blinkman987 fucked around with this message at 07:02 on Apr 15, 2018

# ? Apr 15, 2018 01:57

Cockmaster: Feb 24, 2002

22 Eargesplitten posted:

gently caress that, chickens are assholes and messy. Also really stupid and get themselves killed constantly. I�d rather own an adorable herbivore that�s big enough no Fox/coyote is going to gently caress with it.

Kangaroos can be very affectionate:

https://www.youtube.com/watch?v=sNeR4NjPMR0

# ? Apr 15, 2018 01:59