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.

«‹›676 »

potee: Jul 23, 2007; Or, you know.

Not fine.

Haifisch posted:

Fleecing rich people is GWM. If you go rich enough, overpricing your product/service is just another attractor to customers since it lets them feel even smugger about themselves.

Once Fyre Festival happened I realized the only economy of the future is selling bullshit to the indolent offspring of the mega rich.

# ? Oct 19, 2018 01:58

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# ? May 18, 2024 23:53

Vox Nihili: May 28, 2008

potee posted:

Once Fyre Festival happened I realized the only economy of the future is selling bullshit to the indolent offspring of the mega rich.

I mean, the guy who organized the thing was just sentenced to serious prison time, but your point stands.

# ? Oct 19, 2018 02:30

Mocking Bird: Aug 17, 2011

Vox Nihili posted:

I mean, the guy who organized the thing was just sentenced to serious prison time, but your point stands.

# ? Oct 19, 2018 02:41

BEHOLD: MY CAPE: Jan 11, 2004

Mocking Bird posted:

He was sentenced to 6 years in prison last week. The Fyre Festival wasn't enough fraud so he ran some kind of ticket scalping scam when he got home and he got charged for that too.

# ? Oct 19, 2018 02:46

Anza Borrego: Feb 11, 2005; Ovis canadensis nelsoni

BEHOLD: MY CAPE posted:

He was sentenced to 6 years in prison last week. The Fyre Festival wasn't enough fraud so he ran some kind of ticket scalping scam when he got home and he got charged for that too.

Not only that, but he kept running scams while he was out on bond.

https://www.nytimes.com/2018/10/11/arts/music/fyre-festival-organizer-sentenced-fraud.amp.html

# ? Oct 19, 2018 02:48

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

Jeeze, who knew getting caught scamming rich people was a good way to get your poo poo pushed in?

therobit fucked around with this message at 03:06 on Oct 19, 2018

# ? Oct 19, 2018 02:58

FAUXTON: Jun 2, 2005; spero che tu stia bene

therobit posted:

Jeeze, who knew getting caught scamming rich people read a good way to get your poo poo pushed in?

This is what makes me think elon musk is gonna get loving wrecked in court

# ? Oct 19, 2018 03:03

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

I have read 3 different links people posted in this thread about Soulcycle and still don't know why they can charge $500 a month for gym membership.

I am seeing:

- More machines
- Eucalyptus Towels
- ???

somehow add up to $490 per month more than Planet Fitness.

# ? Oct 19, 2018 04:58

crazypeltast52: May 5, 2010

potee posted:

Once Fyre Festival happened I realized the only economy of the future is selling bullshit to the indolent offspring of the mega rich.

Turns out I have a cousin who was stranded at Fyre! It was as much of a shitshow as a normal person reading about it from the rich person tweets would assume.

# ? Oct 19, 2018 05:10

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

Leon Trotsky 2012 posted:

I have read 3 different links people posted in this thread about Soulcycle and still don't know why they can charge $500 a month for gym membership.

I am seeing:

- More machines
- Eucalyptus Towels
- ???

somehow add up to $490 per month more than Planet Fitness.

soulcycle has no memberships and a really unequal usage pattern (like other gym dealies). that means that they can charge per lesson and drain some enthusiasts completely dry. basically comparable to like candy crush, where there's whales who pay like a grand per day, but peeps who pay a grand a month for their cycling

https://www.priceintelligently.com/blog/pricing-page-teardown-peloton-soulcycle

# ? Oct 19, 2018 05:50

Ixian: Oct 9, 2001; Many machines on Ix....new machines; Pillbug

EAT FASTER!!!!!! posted:

These are just amazing.

My Wife and I are in looking to upgrade to a larger home in the next few months. We live in Chicago, currently own our condo and have been looking for a number of months. The math tells me this is doable, but having grown up relatively poor, i'm having a tough time stomaching the risk. Am I being ridiculously conservative, or appropriately cautious.

So for finances we make around $560,000 a year before taxes gorgeous, love it, live your life. We're in very aggressive (60-80 hour per week) jobs that i'm not sure we can hang on to for much longer I feel no sympathy. I'm in Consulting, she in law. Our income in 2015 was $300,000 - so the growth has been breakneck. We take home about 22,000 per month after all taxes, health insurance, and retirement.

Bonuses are lumpy and typically hit at about $70-80,000 for me and 30,000 for her (after tax). delicious.

We have $175,000 in student loans so far so good.

Our expenses look like this:

Future Mortgage: 6850/month hachi machi what a mortgage!

Daycare: 2200/month pretty expensive but what can you do?

Car payment: 450/month eminently reasonable!!

Car insurance : 80/month

Entertainment dining out : 3500 SURELY YOU JEST - IS IT EATING OUT EVERY SINGLE NIGHT? FOR $100 A NIGHT? HOW CAN YOU SPEND THIS MUCH

Student Loan Payments: 1,500 /month

Heat: 100/month (average)

Electric: 150/month

Internet: 60/month

Netflix + Hulu: 22/month

Gym: 500/month

Cell phone: 40/month

Kids college account: 500/month

Emergency Savings: 4500/month

The post you are quoting was custom-written to elicit this kind of response. Not that it isn't an amusing waste of time, just check the outrage. It's fake.

# ? Oct 19, 2018 07:33

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

Ixian posted:

The post you are quoting was custom-written to elicit this kind of response. Not that it isn't an amusing waste of time, just check the outrage. It's fake.

seems to fail a benford's law test

code:

import collections

if __name__ == "__main__":
    lol_str = "560000 300000 22000 70000 30000 175000 6850 2200 450 80 3500 1500 100 150 60 22 500 40 500 4500"
    print(collections.Counter(lol_str).most_common())

results is

code:

[('0', 43), (' ', 19), ('5', 10), ('2', 6), ('1', 4), ('4', 3), ('6', 3), ('3', 3), ('8', 2), ('7', 2)]

but after 0 and space, 1 should be first, then 2, then 3, etc. seems consonant with benford's law for naively made up numbers

passes for first-digit-only check, tho, but in there there's not quite enough data

# ? Oct 19, 2018 07:46

howdoesishotweb: Nov 21, 2002

Ixian posted:

The post you are quoting was custom-written to elicit this kind of response. Not that it isn't an amusing waste of time, just check the outrage. It's fake.

What outrage? If it�s real they put away retirement, 4500 a month in emergency savings, and 500 a month for college. It could be better but meh?

$3500 a month on misc? Dual professional couple in an expensive city likely eats out almost every meal, goes to events, and vacations/traveling. Easily doable.

Lol that any lawyer is away from the office long enough to enjoy a mil+ home and a $500 a month gym.

# ? Oct 19, 2018 08:16

Issaries: Sep 15, 2008; "At the end of the day
We are all human beings
My father once told me that
The world has no borders"

Dustoph posted:

I think the better question is what amenities would make a $500/month gym membership worth it?

They keep the poor people out?

# ? Oct 19, 2018 11:18

Residency Evil: Jul 28, 2003; 4/5 godo... Schumi

howdoesishotweb posted:

What outrage? If it�s real they put away retirement, 4500 a month in emergency savings, and 500 a month for college. It could be better but meh?

$3500 a month on misc? Dual professional couple in an expensive city likely eats out almost every meal, goes to events, and vacations/traveling. Easily doable.

Lol that any lawyer is away from the office long enough to enjoy a mil+ home and a $500 a month gym.

I'm really looking forward to these forums in another 10-20 years or so.

If they make it that long.

# ? Oct 19, 2018 11:46

CornHolio: May 20, 2001; Toilet Rascal

ChickenOfTomorrow posted:

with the limits on abortion access in the USA sometimes it's very hard - maybe impossible - to get an abortion if something happens and you need one. we're talking "you need to take 3 or 4 days off work and travel and stay in another state" hard.

A brief story here: My younger brother and his wife announced their pregnancy in August but found out this week that it somehow has a full set of extra chromosomes and has pretty much every defect in the book - heart defects, brain defects, all sorts of deformities, etc... She's just about at twenty weeks and it's a miracle she hasn't miscarried, and if it gets to term its life is expected to be measured in hours. It's such a rare case that there's very little documentation on it.

Anyway, in Ohio I guess 20 weeks is the limit for terminating a pregnancy, and hospitals aren't allowed to do it anyway. They think that due to the circumstances it'll be allowed but they have to go to a clinic to have it done, or across the border in Indiana (they live near Cincinnati) and they don't know what insurance is going to cover at all. My understanding is that there is a long-term health hazard to his wife (cancer) but at the moment it isn't immediate.

I think it's loving ridiculous that a legal medical procedure like that should have so many loopholes and it's adding so much additional stress to a grief-stricken couple that it makes me sick.

# ? Oct 19, 2018 11:49

BEHOLD: MY CAPE: Jan 11, 2004

CornHolio posted:

A brief story here: My younger brother and his wife announced their pregnancy in August but found out this week that it somehow has a full set of extra chromosomes and has pretty much every defect in the book - heart defects, brain defects, all sorts of deformities, etc... She's just about at twenty weeks and it's a miracle she hasn't miscarried, and if it gets to term its life is expected to be measured in hours. It's such a rare case that there's very little documentation on it.

Anyway, in Ohio I guess 20 weeks is the limit for terminating a pregnancy, and hospitals aren't allowed to do it anyway. They think that due to the circumstances it'll be allowed but they have to go to a clinic to have it done, or across the border in Indiana (they live near Cincinnati) and they don't know what insurance is going to cover at all. My understanding is that there is a long-term health hazard to his wife (cancer) but at the moment it isn't immediate.

I think it's loving ridiculous that a legal medical procedure like that should have so many loopholes and it's adding so much additional stress to a grief-stricken couple that it makes me sick.

That's terrible and painful, truly the worst news an expecting couple could hear. So sorry for them and especially sorry that legislators who aren't doctors have gone out of their way to make her needed medical care more difficult and uncertain.

# ? Oct 19, 2018 12:21

Leon Trotsky 2012: Aug 27, 2009; YOU CAN TRUST ME!*

_{*Israeli Government-affiliated poster}

His "sales" job is being the team lead for the automotive section of a major retail store.

Google suggests that this car is around $40,000 to $50,000 and there is no way he makes more than $35,000 per year.

Edit: I somehow missed that he spelled out how exactly much he paid for it in the post.

Leon Trotsky 2012 fucked around with this message at 14:13 on Oct 19, 2018

# ? Oct 19, 2018 14:10

Porfiriato: Jan 4, 2016

#BatWithMoney: The car price was 45k and I talked him down to $625 a month.

# ? Oct 19, 2018 14:23

FAUXTON: Jun 2, 2005; spero che tu stia bene

Working in sales has to be up there on the BWM list, either that or it's got a self-selection problem where it attracts hilarious people who go into staggering debt to "appear successful"

# ? Oct 19, 2018 14:27

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

Is that even a convertible? That looks like a regular BMW with a sunroof.

I had some old guy get real interested in my Kia while I was pumping gas. He had a BMW and was tired of paying a fortune for maintenance. Like he wouldn't stop talking about my Kia and his BMW and then he thankfully wandered off to play video poker and didn't ask for sex - which I was pretty sure he was about to suggest because my Kia isn't that interesting.

Enjoy those expensive oil changes Mr. New BMW guy.

# ? Oct 19, 2018 14:29

Lockback: Sep 3, 2006; All days are nights to see till I see thee; and nights bright days when dreams do show me thee.

I like this car theme we got going

Help me decide what to do with my wrecked brand new 2018 Miata?
https://www.reddit.com/r/personalfinance/comments/9pdchf/help_me_decide_what_to_do_with_my_wrecked_brand/

quote:

So if you frequent r/miata you've probably seen this post, which is the aftermath of me wrecking my brand new 2018 Miata Grand Touring within a week and 440 miles of buying it in cash. My first car. I'm now in the process of settling with insurance over it and I could use some knowledge and advice.

Here is the damage estimate that I received today. I don't know enough about cars to say what is significant here, other than apparently 5 hours estimated labor for frame damage.

EDIT: Here are more pictures of the wreck at the scene of the accident as well as the teardown inspection.

I paid $28.4k in cash for the car, and if I were to accept compensation for the damages I would get about $14.2k (after the $2500 deductible) and also have the wreck to sell. Here are my options that I'm aware of:

Repair the car, paying the $2500 deductible out of pocket, and just drive it. The car seems heavily damaged so this might be unsafe or unpleasant, I really don't know, and it might cost me more in the long term due to accelerated depreciation. I've heard from the shop that they'll use entirely Mazda parts and it will take about two months to order the parts and repair it.

Don't repair the car, taking the $14.2k check and selling the wreck, then buying a brand new (and exactly identical) Miata presumably for the same price I bought the first one at. I am willing to take up to a $10k loss (since already the guaranteed minimum loss is $2500 due to the deductible) for a brand new Miata, but this assumes the wreck sells for $4k or higher. Selling the wreck will presumably be a challenge and I know nothing about how to best do that and the logistics of moving it around.

Repair the car, paying the $2500 deductible, and then selling it (for a brand new Miata). I'm not sure this would get me more money than option 2, and it would seem like more of a risk unless the repair job was excellent and the buyer didn't care that it had been heavily repaired.

I've heard that I could also possibly get a second estimate from another shop, but I'm not sure my insurance company would be compliant with the expense of doing so. The shop my Miata was inspected at is apparently one of the best and most upstanding in the city judging by Yelp, but there's probably some more upscale.

I'm open to other suggestions, but what is off the table is buying and driving anything other than a Mazda MX-5 Miata Grand Touring with manual transmission, for any reason. My time with the car has firmly convinced me of that and I miss it dearly. Hopefully if I get a new one I won't murder it too.

Picture of his $10k, <500 mile car.

# ? Oct 19, 2018 14:58

Enos Cabell: Nov 3, 2004

BWM was not having gap coverage, but without knowing more details about the wreck I can't give the guy too much grief. Miata with a manual transmission is a very good car and a much wiser purchase than pretty much any other options someone able to drop $25k cash for a fun driving car could make.

# ? Oct 19, 2018 15:23

Cacafuego: Jul 22, 2007

The $2500 deductible and crash of a RWD manual transmission, fun to whip around car like a Miata within 500mi of purchase tell me a lot about this person�s driving history.

# ? Oct 19, 2018 15:34

Enos Cabell: Nov 3, 2004

Cacafuego posted:

The $2500 deductible and crash of a RWD manual transmission, fun to whip around car like a Miata within 500mi of purchase tell me a lot about this person�s driving history.

True, I'm possibly blinded by the fact that he opted to pay cash for an objectively good $25k Miata and not a $40k Nissan Altima with 72 $600 monthly payments.

# ? Oct 19, 2018 15:37

metallicaeg: Nov 28, 2005; Evil Red Wings Owner Wario Lemieux Steals Stanley Cup

Cacafuego posted:

The $2500 deductible and crash of a RWD manual transmission, fun to whip around car like a Miata within 500mi of purchase tell me a lot about this person�s driving history.

He just got his license; those 500 miles and the wrecked car is the entirety of his driving history.

# ? Oct 19, 2018 15:43

Midjack: Dec 24, 2007

Cacafuego posted:

The $2500 deductible and crash of a RWD manual transmission, fun to whip around car like a Miata within 500mi of purchase tell me a lot about this person’s driving history.

He also says it's his first car. Dude should get a used Fit while he's still learning how to drive.

# ? Oct 19, 2018 15:45

Residency Evil: Jul 28, 2003; 4/5 godo... Schumi

Known Lecher posted:

#BatWithMoney: The car price was 45k and I talked him down to $625 a month.

Can it be anything else?

# ? Oct 19, 2018 15:46

MisterOblivious: Mar 17, 2010; by sebmojo

Cacafuego posted:

The $2500 deductible and crash of a RWD manual transmission, fun to whip around car like a Miata within 500mi of purchase tell me a lot about this person’s driving history.

Driving history? What driving history?

https://www.reddit.com/r/Miata/comments/9mnc6l/i_love_my_new_car/e7gf11r posted:

I bought the car in cash last Tuesday. My first car. Got my license the day before. I turned left against an oncoming driver when the light turned green for both of us. My fault. We’re both unharmed but her Toyota Tacoma seems even worse off than my Miata.

https://www.reddit.com/r/Miata/comments/9mnc6l/i_love_my_new_car/e7hhzt9 posted:

It’s my first manual car (and first car in general) and I’m still getting the hang of slipping the clutch from a dead stop, so I do it with theatrical slowness to avoid stalling.

Realistically, if I had been quicker on the turn, more of the car would have been impacted and I would’ve been hurt.

He stalled the car several times trying to get it off the lot.

https://www.reddit.com/r/Miata/comments/9mjm72/dealer_guy_contacted_me_about_the_new_miata_i

MisterOblivious fucked around with this message at 16:03 on Oct 19, 2018

# ? Oct 19, 2018 15:48

brugroffil: Nov 30, 2015

I always assumed the parents who bought their children cars like Trans Ams in high school didn't really want them around any more

# ? Oct 19, 2018 15:49

Enos Cabell: Nov 3, 2004

Ok I withdraw my previous support, that dude is a dumbass.

# ? Oct 19, 2018 15:51

CornHolio: May 20, 2001; Toilet Rascal

Lockback posted:

I like this car theme we got going

Help me decide what to do with my wrecked brand new 2018 Miata?
https://www.reddit.com/r/personalfinance/comments/9pdchf/help_me_decide_what_to_do_with_my_wrecked_brand/

Picture of his $10k, <500 mile car.

My dad has that exact car. I've driven it, it's great and pretty forgiving.

This guy needs to learn about how insurance works before buying a brand new car. At least if he financed it, they may have required gap insurance.

# ? Oct 19, 2018 15:53

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

Residency Evil posted:

Can it be anything else?

It's funny if it's a 60 month loan.

It's hilarious if it's a 72 month loan.

It wraps around to sad if it's a 84 month loan.

# ? Oct 19, 2018 16:00

Overdrift: Jul 17, 2006; This is Fatherman! He fights crime to earn Sonboy's respect! Is it working?

How the hell do you get damaged on the driver's side when turning left against an oncoming driver? Did he hit the other driver? :psyduck:

# ? Oct 19, 2018 16:04

BEHOLD: MY CAPE: Jan 11, 2004

Enos Cabell posted:

BWM was not having gap coverage, but without knowing more details about the wreck I can't give the guy too much grief. Miata with a manual transmission is a very good car and a much wiser purchase than pretty much any other options someone able to drop $25k cash for a fun driving car could make.

The car wasn't financed so there's no such thing as gap coverage. Gap coverage covers the balance of a loan if your insurance settlement on a stolen or totaled vehicle is less than the outstanding loan balance. Seems like his only problem was just having me terrible misfortune of seriously damaging but not totaling a new car. Some insurance policies offered new vehicle replacement if you wreck a car within some number of months or miles of a new purchase but obviously that kind of policy comes with a premium. if you can afford to buy a new car in straight up cash, then it probably is wise for you to have a high-deductible policy like this guy but now he's experiencing the risk that he adopted to save money on premiums.

# ? Oct 19, 2018 16:12

BEHOLD: MY CAPE: Jan 11, 2004

Cacafuego posted:

The $2500 deductible and crash of a RWD manual transmission, fun to whip around car like a Miata within 500mi of purchase tell me a lot about this person�s driving history.

What does the $2,500 deductible have to say about anything? That's just something you pick on your insurance policy. I have maximum deductibles on my cars because it saves a lot of money on insurance premiums and I can afford to pay the deductible should I ever need to.

# ? Oct 19, 2018 16:14

Lockback: Sep 3, 2006; All days are nights to see till I see thee; and nights bright days when dreams do show me thee.

BEHOLD: MY CAPE posted:

The car wasn't financed so there's no such thing as gap coverage. Gap coverage covers the balance of a loan if your insurance settlement on a stolen or totaled vehicle is less than the outstanding loan balance. Seems like his only problem was just having me terrible misfortune of seriously damaging but not totaling a new car. Some insurance policies offered new vehicle replacement if you wreck a car within some number of months or miles of a new purchase but obviously that kind of policy comes with a premium. if you can afford to buy a new car in straight up cash, then it probably is wise for you to have a high-deductible policy like this guy but now he's experiencing the risk that he adopted to save money on premiums.

Right, he didn't total the car, that's what his problem is. So now he needs to either get the car repaired (including frame damage) or take a $10k bath. And he wants to roll right into another RWD Manual car that he'll probably wreck again.

# ? Oct 19, 2018 16:20

Bajaha: Apr 1, 2011; BajaHAHAHA.

Locally we have new car insurance which is like gap insurance but only available to you for the first two years of ownership and in the event of writing off your car you'll get the full amount you paid for the car, regardless of it's current value or original payment method.

It's cheap too, like ~$200 over the two years for a $30k car iirc.

Miata dude should just pony up the deductible and get it fixed and drive it. Frame damage is actually repairable contrary the how some people view it and if it's a reputable body shop they'll do a good job. Seeing as it's not actually written off it will still have a "clean" title. Since this was so soon after getting it and it's his first car, I wouldn't be surprised if it gets completely totaled within a year after another dumb mistake.

# ? Oct 19, 2018 16:25

Cacafuego: Jul 22, 2007

BEHOLD: MY CAPE posted:

What does the $2,500 deductible have to say about anything? That's just something you pick on your insurance policy. I have maximum deductibles on my cars because it saves a lot of money on insurance premiums and I can afford to pay the deductible should I ever need to.

I missed the part about it being his first car, so that would explain it. When I see a high deductible, I assume it�s because someone has had so many accidents, the only way they can afford insurance is that they select the highest deductible possible.

My wife and I have a $250 deductible on each of our cars with full coverage. We have newer cars. It softens the blow when a tree branch fell off and hit my (less than 6 month old) car causing $3000 worth of damage, and again when someone side swiped my wife�s car last year. We pay a little more in insurance, but it�s worth it. Can we afford to pay for $2-4k in deductibles every year? We can, but why do that, when full coverage for both of us with the lowest deductibles costs us ~$2500/year. Especially because we live in Florida, which is full of tourists, elderly snowbirds and lots of people who don�t have car insurance.

# ? Oct 19, 2018 16:36

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# ? May 18, 2024 23:53

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

nostalgia

http://www.smbc-comics.com/comic/branding

# ? Oct 19, 2018 16:40

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

«‹›676 »