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Leon Trotsky 2012 posted:the Debbie debacle several years ago. repost it
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# ? Oct 16, 2022 16:54 |
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# ? Jun 6, 2024 14:56 |
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Motronic posted:Yes, one person who was immediately berated for it said some things like that. You're going to paint the entire thread that way now? Imagine white knighting landlords.
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# ? Oct 16, 2022 17:05 |
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ChickenOfTomorrow posted:repost it Leon Trotsky 2012 posted:One of our managers (who is one of the worst BWM offenders in a large pool of BWM, but is able to survive the consequences because she has a large income) is retiring next month. It has set off a massive BWM chain-reaction that is costing everyone money. Leon Trotsky 2012 posted:
Leon Trotsky 2012 posted:The Debbie retirement party saga ended with a semi-boring and anti-climactic loan from coworkers that is never going to be repaid.
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# ? Oct 16, 2022 17:07 |
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Now that's the sort of content that makes this thread great.
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# ? Oct 16, 2022 17:15 |
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never aspire to be rich, it will get you scammed every single time. if you aspire to scam people sometimes you get rich but also you will still get scammed becauses you're so greedy.
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# ? Oct 16, 2022 17:19 |
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I could read these posts all day
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# ? Oct 16, 2022 17:19 |
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Instant classic.
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# ? Oct 16, 2022 17:31 |
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Any clue on how Debbie is doing five years later after that self-inflicted income cut?
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# ? Oct 16, 2022 17:43 |
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AreWeDrunkYet posted:Any clue on how Debbie is doing five years later after that self-inflicted income cut? Nope. Haven't heard from her or seen her. I could ask if anyone keeps in touch.
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# ? Oct 16, 2022 17:45 |
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AreWeDrunkYet posted:Any clue on how Debbie is doing five years later after that self-inflicted income cut? “Hi! Welcome to Walmart!”
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# ? Oct 16, 2022 17:52 |
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Leon Trotsky 2012 posted:
This is just wild you can make nearly 30k working full time at a Target or Starbucks entry level. How you do stay at a place for 15+ years (at I guess a medium sized company maybe > ~290 employees given the tone) and only be making 30k after years of raises.
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# ? Oct 16, 2022 18:10 |
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It's the government.
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# ? Oct 16, 2022 18:11 |
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Super-NintendoUser posted:
It's a government job. With a pension. Salary numbers alone are not reflective of total compensation.
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# ? Oct 16, 2022 18:12 |
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Not BWM but GWM story, took money out of savings and bought my first I-bond thanks to this thread. I feel like a real grownup. Actual BWM story, I donated to the democrats, and my email inbox became so clogged with their spam that I missed an important email from my accountant. Raskolnikov2089 fucked around with this message at 18:56 on Oct 16, 2022 |
# ? Oct 16, 2022 18:24 |
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Super-NintendoUser posted:
It's the (federal?) government and sadly that's the result of decades of deliberate underfunding of basic agency functions. The flip side is that every one of those sub-Target-wage employees is often doing more than one person's job because there are entire positions that exist but can and will never be filled due to brutal budget-office triage. But hey, you can actually earn a pension if you can hang in there long enough!
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# ? Oct 16, 2022 18:27 |
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Dear MarketWatch, quote:Hi, hope you can provide some help. Oh gently caress it, pretend I bolded the entire thing.
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# ? Oct 16, 2022 20:34 |
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Is that Debbie?
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# ? Oct 16, 2022 20:49 |
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Residency Evil posted:Is that Debbie? No, she retired too early to get the medical benefit and she would be ~60 now. She also didn't have a 401k, because you can only get a 453(b), but she did not have one of those either.
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# ? Oct 16, 2022 20:57 |
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Super-NintendoUser posted:
They just announced that (most) federal employees will have a minimum wage of $15/hour or equivalent salary starting this year. That is only ~$31k annually and was a more than doubling of the previous minimum. That said, being a janitor making $21k for the government is still usually better than being a janitor basically everywhere else when you factor in total compensation.
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# ? Oct 16, 2022 21:01 |
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Motronic posted:Dear MarketWatch, Why bold the mortgage amount? That's approximately how much mine is and it's pretty standard in Seattle. I'm just happy with my < 3% interest rate. Edit: bolded because they plan on retiring next month?
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# ? Oct 16, 2022 21:09 |
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Motronic posted:Dear MarketWatch, this person is hosed
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# ? Oct 16, 2022 21:10 |
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Motronic posted:Dear Penthouse Forum, If I read that right her semi-liquid net worth is less than $100k, and she thinks she can pay $48k/year in mortgage for 15 years plus other life expenses for the rest of her life with that money?
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# ? Oct 16, 2022 21:13 |
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Involuntary Sparkle posted:Why bold the mortgage amount? That's approximately how much mine is and it's pretty standard in Seattle. I'm just happy with my < 3% interest rate. Because someone who is planning on retiring with 5 figures of credit card debt is obviously living paycheck to paycheck, they list out their assets, and a $4k mortgage is very obviously a slow slide into default based on the numbers given. But congrats on your $4k mortgage I guess.
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# ? Oct 16, 2022 21:15 |
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drk posted:If I read that right her semi-liquid net worth is less than $100k, and she thinks she can pay $48k/year in mortgage for 15 years plus other life expenses for the rest of her life with that money? She has a pension as well but she didn't say how much it would pay. She also seems to think taking out a loan against her 401k will somehow give her extra "free money" that she doesn't have to pay back.
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# ? Oct 16, 2022 21:19 |
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I missed the part where she says she has a state pension, but even a pretty generous one isnt going to cover her expenses if her salary didnt before Better get that ex and the adult children paying some rent or kick them out and downsize
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# ? Oct 16, 2022 21:21 |
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Leon Trotsky 2012 posted:She also didn't have a 401k, because you can only get a 453(b), but she did not have one of those either. I know a guy that has 100% matching on their 401k and they've never signed up for it. I told them they needed to sign up literally yesterday, three years later...
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# ? Oct 16, 2022 21:32 |
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RPATDO_LAMD posted:She also seems to think taking out a loan against her 401k will somehow give her extra "free money" that she doesn't have to pay back. She was so wrong in that section I don't even know what she was accidentally describing.
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# ? Oct 16, 2022 21:33 |
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obi_ant posted:I know a guy that has 100% matching on their 401k and they've never signed up for it. I told them they needed to sign up literally yesterday, three years later... Some people are just bad with money and won’t do it no matter what you try. Society basically encouraging that level of consumerism and whatever certainly doesn’t help.
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# ? Oct 16, 2022 21:43 |
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Hey guys, Web 3 is the future! I present to you: https://etherscan.io/tx/0x81eb469f5c06de4f1bc7fd2a3ab085eb6a01bbc145fbcadd483c6433bab933cd https://etherscan.io/tx/0x58d877f1eb8ffdb752ca8e7720ddcc9dcf1e046d9ce7acd5e6775f372cc38905 $760k (yes, thousands) in Ethereum traded for $1500 of a token, IMX. Which is worth approximately 63 cents. https://www.coingecko.com/en/coins/immutable-x That's it. This is called an MEV attack, and just about everything outside of Bitcoin (read: all of Ethereum) enables this as they have zero liquidity and lots of exploits come out of it.
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# ? Oct 16, 2022 22:04 |
What?
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# ? Oct 17, 2022 07:23 |
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BigHead posted:What? Their money is "away from them".
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# ? Oct 17, 2022 08:01 |
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Super-NintendoUser posted:
Target or Starbucks don't have the "cadillac" health insurance plans that many government jobs come with at the 30k/year salary level positions. Take a lower salary for 30 years but pay less for healthcare that covers a lot more than the average plan. That adds up pre-retirement especially if you have any kind of chronic health issues at all as you age. Generally pensions are a percentage of some combination of your final salary or the average salary of your last several years of employment, with a multiplier based on years of service. I tried to think of the state that might have the shittiest state employee pension system (because we can't fund those lazy government bureaucrats after all) and found this on Florida's retirement system page: https://www.myfrs.com/FRSPro_ComparePlan_BenificCal.htm 1.60% x Years of Service x Average Last 8 Years of Salary They give an example of $34,549 for the average final salary, so it looks like if I did the math right that comes out to about $16.5k/yr or $1,381.96 a month, so hopefully combine that fully (probably) guaranteed monthly income with social security (although not all gov't employees contribute to SS so they might not get anything) plus hopefully investing in an IRA, plus hopefully a spouse's retirement benefits, and that's not terrible at all.
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# ? Oct 17, 2022 08:26 |
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BigHead posted:What? Imagine saying "I want $760k of tesla shares" and getting $1500 of shares, all 760k gone. That's crypto, defi specifically
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# ? Oct 17, 2022 10:08 |
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Vice President posted:Target or Starbucks don't have the "cadillac" health insurance plans that many government jobs come with at the 30k/year salary level positions. Take a lower salary for 30 years but pay less for healthcare that covers a lot more than the average plan. That adds up pre-retirement especially if you have any kind of chronic health issues at all as you age. I understand the math behind that, but I'm curious if you had real raises and good income you could save considerably more for retirement in a 401k, and at 32k/year how do you possibly afford to buy a house or even live day to day?
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# ? Oct 17, 2022 13:18 |
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Super-NintendoUser posted:I understand the math behind that, but I'm curious if you had real raises and good income you could save considerably more for retirement in a 401k, and at 32k/year how do you possibly afford to buy a house or even live day to day? It’s mostly a math question and for certain definitions of real raises and good income the answer is yes. I don’t know Debbie’s specific scenario but a lot of these situations seem to arise where the person either isn’t able to get a better paying job or is in a job that is more of a calling than a job (social work, teaching etc).
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# ? Oct 17, 2022 13:54 |
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Super-NintendoUser posted:I understand the math behind that, but I'm curious if you had real raises and good income you could save considerably more for retirement in a 401k, and at 32k/year how do you possibly afford to buy a house or even live day to day? Depends a LOT on where you live. I'm not going to use numbers from that Florida one because I don't know what the deal is in Flordia's system, but you find some similarly extremely low paying jobs on the Federal side of things as well. The pay bands are all out there as public record: https://www.federalpay.org/gs/2022 So band 1 of GS-9 (which is where you find a lot of subject matter experts on a thing or skilled technical workers) is only $47k. GS-12 is deep into supervisory territory to the point where you're going to be a department chief or something and that's only $68. BUT, federal jobs have locality pay. They take the COL of the area where the job is into account and adjust accordingly. So if you're working for the Bureau of Land Management somewhere in bum gently caress nowhere Montanna you might actually be making pretty near the base pay. But if you're in DC you get a 31.5% locality bump and that entry level GS-9 job is now getting $61k/yr. And remember that's just band one. So do a few years, don't be a fuckup, and you're going to move up the pay chart even if you don't actually get promoted to a higher job category. By the time you get half-way through the GS9 bands our hypothetical lab worker or SME is making $70k/yr. Which isn't crazy money in the DC area, but the benefits are amazing and if you have a dual-income household you can get by pretty well. It's not uncommon for people to double-dip, with one spouse getting under-paid relative to their credentials and expertise but pulling in crazy loving benefits that helps them both, while the other takes a higher paid job in the non-government world (assuming similar educational levels, income potentials etc). edit: there are also a LOT of ex-military in the federal ranks due to veteran preference hires. I forget exactly how all that works but there are ways to roll years of active duty service over into calculating things like pension eligibility etc. Cyrano4747 fucked around with this message at 14:08 on Oct 17, 2022 |
# ? Oct 17, 2022 14:05 |
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For an external reference, that GS-9 level Cyrano is quoting is where the cap is $61k is where the federal government places engineers. Fresh out of college, they bring them on at GS-7 with automatic promotions each year so they reach GS-9 in 2 years. Engineers are eligible for promotion up to GS-11 without special permitting but only in certain departments. I did the Federal employment bit for a few years and the chief thing that kept anyone there was a combination of benefits and inertia. The medical benefits package was excellent and you got paid overtime regardless of your GS level, though after a certain point a sliding scale starts that decreases 1.5x pay to 1x pay. It's extremely reliable employment, so someone who been doing $15/hr at target but fighting with their manager to get shifts doesn't have to deal with any of that. You also get a lot of vacation time each year after you've been there a few years. The pension system is also extremely important to someone who doesn't make enough money to comfortably put some into their 401k each paycheck. All of that said, the pension benefits have been pretty significantly scaled back over the last 20 years so the calculus may be getting worse.
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# ? Oct 17, 2022 14:39 |
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Florida has been purposely destroying the state pension system for at least 20 years. They've been pushing new employees onto 401K investment plans too to try to kill the pension, which they might actually do in the near future. Florida's management of the pension is also bad because they didn't do things like divest themselves from Russian enterprises in the lead up and initial invasion of Ukraine. Florida actually invested more in Russian enterprises in the lead up to the war, which is pretty BWM. The state reportedly lost around $200 million dollars by March of 2022 due to this. Almost all the other benefits offered by the state unsurprisingly suck too.
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# ? Oct 17, 2022 14:47 |
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My dad left the corporate tax world to go work for the IRS fifteen years ago and never looked back. He's been full time work from home for a decade and never has to work nights or weekends. Compared to the regular Tax Season 70+ hour weeks he worked several months every year whole I was growing up, it is a much better balance. My brother works for the state government. His total comp isn't too bad. The work stress is low, he gets to help people, and you punch out strictly at 4pm and are done for the day. It can offer pretty substantial benefits in the work/life balance area.
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# ? Oct 17, 2022 14:50 |
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# ? Jun 6, 2024 14:56 |
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brugroffil posted:My dad left the corporate tax world to go work for the IRS fifteen years ago and never looked back. He's been full time work from home for a decade and never has to work nights or weekends. Compared to the regular Tax Season 70+ hour weeks he worked several months every year whole I was growing up, it is a much better balance. There is also a lot of job security. After you make it through your probationary period it's a lot, lot harder to fire or lay off a government employee than a private sector one.
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# ? Oct 17, 2022 14:53 |