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Maybe he and his parents can all move and start a new life in a new and exciting foreign country, like Myanmar or Argentina. But for real, $175k? Guy went into 4-year state university plus law school debt for an associate's degree in paralegal studies.
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Mar 9, 2015 16:55
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Some of the stories on this site. Holy gently caress http://www.consumeraffairs.com/finance/westernsky-com.html I applied for a $2,600 loan. However, Western Sky would keep $500 for fees and $2,100 would be deposited into my account. Finally, in a situation and needing whatever I could get, I agreed to the $2,600 loan. Several things: first, their site does not give anything but the rates and does not give any information about the criteria for the loans. Secondly, there's no elaboration on the $500 fees. And they transferred my loan to a company called Cash Call. I will be paying back $14,000 for a loan of $2,600 because the monthly payments go up from $200, to $300 plus... I don't have a problem paying my debt, but $14,000 for $2,600 is a bit too much..."Help”, how do I get out of this mess?
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Mar 9, 2015 16:56
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Not a Children posted:This guy is absurdly selfish. He borrowed $175,000 for an associates degree expecting to die before paying his debts off, and had his parents co-sign on his loans. The guy is a stupid gently caress but at some point you really do have to blame a fundamentally broken system where banks will allow you to do poo poo like that because the government has their back. I recommend that dude moves himself and his parents to Venezuela or something.
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Mar 9, 2015 17:12
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canyoneer posted:Maybe he and his parents can all move and start a new life in a new and exciting foreign country, like Myanmar or Argentina. My stomach feels queasy thinking about that situation. I feel sad for the parents and angry at him. I just wonder what his parents were thinking. olylifter posted:Some of the stories on this site. Holy gently caress http://www.consumeraffairs.com/finance/westernsky-com.html I saw a commercial for a service just like WesternSky (which is supposed to be a short-term loan company ran by Native Americans) and they actually put the APR on the commercial. The APR was 300%. I'm dead serious.
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Mar 9, 2015 17:12
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Wickerman posted:I saw a commercial for a service just like WesternSky (which is supposed to be a short-term loan company ran by Native Americans) and they actually put the APR on the commercial. I see your 300%, and I raise you 5,853% http://www.theguardian.com/business/2014/apr/09/wonga-advert-banned-interest-rate
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Mar 9, 2015 17:25
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 With a paid off house, a $350K nest egg, and $60K guaranteed this guy probably can't get himself in too much trouble. But I just love the idea of someone wrapping up their last day at work, going through the mental checklist of what needs to be done before they leave, and being like "oh, right! meant to post a thread on reddit about how to retire".
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Mar 9, 2015 19:00
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tentish klown posted:I see your 300%, and I raise you 5,853% JFC. Here in Washington State the do nothing legislature actually got together a bill with wide support and voted in a bill that limited loans to 700 and added a "circuit breaker" where you can't renew more than 7 times. Turned the corporate loansharking business from a $1.3b statewide industry to a $331m one overnight. Of course now Moneytree and others are now dumping money into lobbying for a $300 raise in the limit and the removal of the renewal cap. The bill now magically has support because it "saves consumers on interest" while also simultaneously adding an amortized 15 percent "origination fee", a 7.5 percent monthly maintenance fee (can anyone explain the difference between the two without using the word overhead). The business interests are rushing to get this through before the federal Consumer Financial Protection Bureau releases it's initial draft of regulations to put on payday loansharks.
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Mar 9, 2015 19:24
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I don't know what there is to even think about for retirement if you have a paid off house and guaranteed 60k/year for continuing to breathe. Seems more like a humblebrag. Does additional income come off the top of the disability benefits or is he free to work on top of that?
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Mar 9, 2015 19:27
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I can deal with a humblebrag on that subreddit. Reading the bad with money stories is exhausting. That must be what it feels like to be a Catholic priest.
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Mar 9, 2015 19:31
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Jeffrey of YOSPOS posted:I don't know what there is to even think about for retirement if you have a paid off house and guaranteed 60k/year for continuing to breathe. Seems more like a humblebrag. Does additional income come off the top of the disability benefits or is he free to work on top of that? Either free or heavily discounted healthcare, I'm not sure. He's set for life, like my grandpa. Saved every penny and did nearly 40 years in the Army, and yet I, as the only grandson, get $40 for birthday and Christmas.
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Mar 9, 2015 19:36
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haha nevermind the 350k is in gold, there's the thread content he forwent a TSP which the federal government matches contributed funds and went with gold instead Jeffrey of YOSPOS fucked around with this message at 19:44 on Mar 9, 2015 |
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Mar 9, 2015 19:42
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Aliquid posted:Either free or heavily discounted healthcare, I'm not sure. He's set for life, like my grandpa. Saved every penny and did nearly 40 years in the Army, and yet I, as the only grandson, get $40 for birthday and Christmas. Gramps should have bailed at 20 years, then did the next 20 at a different .gov agency and double-dipped the pensions.
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Mar 9, 2015 19:44
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canyoneer posted:Gramps should have bailed at 20 years, then did the next 20 at a different .gov agency and double-dipped the pensions. Law enforcement around here gets a superior pension plan (more rapid retirement, greater annual % boost, etc.) compared with every other state worker. You'll see court bailiffs who've done their time with Uncle Sam come to court to accrue state retirement benefits. The biggest earner in court, after the judge, can often be the marine-turned-bailiff. This is not a criticism, just an observation.
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Mar 9, 2015 20:16
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Guys, give him a break, he really had to take care of his "personal enrichment, food, rent, [and] living expenses."
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Mar 9, 2015 20:24
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Jeffrey of YOSPOS posted:haha nevermind the 350k is in gold, there's the thread content The military does not get matching funds. The only advantage over an IRA is the higher contribution limit. Still a terrible investment plan though.
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Mar 9, 2015 20:27
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Leviathan Song posted:The military does not get matching funds. The only advantage over an IRA is the higher contribution limit. Still a terrible investment plan though. Ahh, I'm wrong here, don't listen to me. Turns out there was a pilot program for new army recruits from 2006 to 2008 but that's it.
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Mar 9, 2015 20:33
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It's funny to see the people who stockpiled gold coming out of the woodwork and asking for investment advice now that gold is down.
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Mar 9, 2015 20:38
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Jeffrey of YOSPOS posted:haha nevermind the 350k is in gold, there's the thread content Well that is a terrible investment but with a 60k lifetime guarantee and a paid off house I'm not sure it matters.
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Mar 9, 2015 20:44
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Leviathan Song posted:The military does not get matching funds. The only advantage over an IRA is the higher contribution limit. And the crazy low expense ratios.
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Mar 9, 2015 20:53
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Hashtag Banterzone posted:It's funny to see the people who stockpiled gold coming out of the woodwork and asking for investment advice now that gold is down. Pass it on to your kids and let them cash out during the next financial panic That's what I'm hoping my old man does, anyway
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Mar 9, 2015 20:56
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Leviathan Song posted:The military does not get matching funds. The only advantage over an IRA is the higher contribution limit. Still a terrible investment plan though. Huh, as a civilian working for the military I get matches. Then again, I guess I'm not surprised, both civilian and active duty have their own separate policies despite most of the jobs in my field (acquisition) being positions either can and do fill.
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Mar 9, 2015 22:03
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Not a Children posted:Pass it on to your kids and let them cash out during the next financial panic That was my mom's grandmother's plan, except she spent 30 years buying tens of thousands of dollars worth of proof sets from the Mint.  It was the thinking of a different time I suppose (no such thing as an index fund back in the day), but when I think about what that money could be worth today it's straight-up depressing. Fake edit: When my mom was moving she decided to get the collection appraised: Face value + ~5%. I imagine the metal content is worth more.
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Mar 9, 2015 22:37
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This was my daughter's first year of selling Girl Scout cookies. It's unbelievable how many people said "how many do you have? I'll take them all, then sell them for $20/box [they're $5 normally] during the summer when no one can find them!" Putting the incredible douchiness of that aside, Girl Scout Cookie equity is apparently a thing.
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Mar 9, 2015 23:34
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Aliquid posted:Either free or heavily discounted healthcare, I'm not sure. He's set for life, like my grandpa. Saved every penny and did nearly 40 years in the Army, and yet I, as the only grandson, get $40 for birthday and Christmas. ...are you under the impression that somehow you're entitled to more?
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Mar 9, 2015 23:34
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potee posted:That was my mom's grandmother's plan, except she spent 30 years buying tens of thousands of dollars worth of proof sets from the Mint. Proof sets from the US Mint? No way any of those are worth coinage face value unless they are completely ruined somehow. Some crook dealer might tell you that though because there are plenty of people who make a living buying up hoarded collections for a song and parting out the good stuff.
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Mar 9, 2015 23:38
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Henrik Zetterberg posted:This was my daughter's first year of selling Girl Scout cookies. It's unbelievable how many people said "how many do you have? I'll take them all, then sell them for $20/box [they're $5 normally] during the summer when no one can find them!" Business, Finance, and Careers › Bad With Money: Girl Scout Cookie equity is apparently a thing
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Mar 9, 2015 23:47
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Wouldn't the girl scout cookies go stale in a few months? They're all garbage except thin mints anyway
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Mar 9, 2015 23:54
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Not a Children posted:Wouldn't the girl scout cookies go stale in a few months? Ignoring the fact Keebler (sp?) makes the girlscout cookies and sells the exact same cookies . For example, thin mints are grasshoppers, buying girl scout cookies is bad with money your spending more for the brand!!!
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Mar 10, 2015 00:09
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MAKE NO BABBYS posted:...are you under the impression that somehow you're entitled to more? Is a man not entitled to the sweat of his grandfather's brow?
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Mar 10, 2015 00:14
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I'm pretty sure enlisting adorable children into your MLM is good with money.
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Mar 10, 2015 00:17
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Jack2142 posted:Ignoring the fact Keebler (sp?) makes the girlscout cookies and sells the exact same cookies . For example, thin mints are grasshoppers, buying girl scout cookies is bad with money your spending more for the brand!!! Eh, it helps the local Girl Scouts and those drat Tagalongs are tasty... Though, I only buy a box or two as a treat. Since my friends have kids now old enough to do the cookie sales, I feel like I have a dealer Breaking Bad style.
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Mar 10, 2015 01:51
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MAKE NO BABBYS posted:...are you under the impression that somehow you're entitled to more? He may as well have done something with the money in the 25 years he's been retired, it just sits in a savings account and he just sits, slowly dying. It'll be a hell of a funeral, I guess; I'm the sole beneficiary either way.
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Mar 10, 2015 03:34
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MAKE NO BABBYS posted:...are you under the impression that somehow you're entitled to more? My grandparents are like this, and while I'm not entitled to more, I am entitled to not listen to them complain constantly about how CD rates are low and their life is so hard and there's no way they can make their money last. Seriously my biggest annoyance is if I could set up an annuity payment to them for a decent chunk I'd pay them the interest instead of my loans and it'd be virtually impossible for both of us to not come out monstrously ahead. MJBuddy fucked around with this message at 05:03 on Mar 10, 2015 |
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Mar 10, 2015 04:58
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Aliquid posted:He may as well have done something with the money in the 25 years he's been retired, it just sits in a savings account and he just sits, slowly dying. It'll be a hell of a funeral, I guess; I'm the sole beneficiary either way. It must be so hard for you.
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Mar 10, 2015 05:12
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Henrik Zetterberg posted:This was my daughter's first year of selling Girl Scout cookies. It's unbelievable how many people said "how many do you have? I'll take them all, then sell them for $20/box [they're $5 normally] during the summer when no one can find them!" who the gently caress buys a box of lovely cookies for 20 bucks? That's straight up bubble poo poo on a beenie baby scale.
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Mar 10, 2015 05:21
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Jack2142 posted:Ignoring the fact Keebler (sp?) makes the girlscout cookies and sells the exact same cookies . For example, thin mints are grasshoppers, buying girl scout cookies is bad with money your spending more for the brand!!! Whatever cookies used to be called Samoas (I guess that name is now considered offensive or something?) cannot be had in any other branding or packaging as far as I can tell.
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Mar 10, 2015 05:36
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Blackjack2000 posted:Whatever cookies used to be called Samoas (I guess that name is now considered offensive or something?) cannot be had in any other branding or packaging as far as I can tell. They're still called Samoas: http://graphics.latimes.com/girl-scout-cookies/
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Mar 10, 2015 05:39
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Extensive cookie research itt. Simon Wiesenthal Center gonna call some posters. "have you considered turning your cookie hunting skills towards war criminals?" *munching sounds* "yes, in fact i have"
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Mar 10, 2015 05:47
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GTFO of this thread if you've never paid $20 for Girl Scout cookies.
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Mar 10, 2015 05:51
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Selling them for $20/box seems bad with money when you could charge per cookie.
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Mar 10, 2015 05:52
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