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Ron Don Volante posted:My parents recently inherited a large number of money from my maternal grandmother and put $500k of it into stocks chosen by a pair of financial advisors who came "highly recommended" by their neighbors. Since the start of 2013, their portfolio has earned a whopping $700 profit. Where did the other $60k of profit that they would have gotten out of any semi-reasonable stock portfolio go?
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Jul 28, 2013 01:37
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Ron Don Volante posted:Well $1400 of it goes to their advisors' percentage-based quarterly fee. As for the rest of it, no idea. I told them I could make them more money picking stocks out of a hat and wouldn't even charge them for it, but now they're afraid of incurring costs by liquidating their holdings. Tell them they're in a pit putting lotion on their skin when they have a ladder nearby.
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Jul 28, 2013 02:31
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Kids need sticks. Also rocks. Everything else is negotiable.
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Aug 7, 2013 22:17
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I once read a post where someone outlined the relative costs of paying off a mortgage in different time periods without taking into account inflation, opportunity cost, or the time value of money in general. It's like they were saying that paying $1000 today is the same as paying $1000 in 20 years. For a real contribution, most people I work with seem to be fairly frugal, but there's this woman who gets $50 haircuts every week and is always changing her hairstyle. I guess there are worse habits.
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Aug 27, 2013 14:30
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Exercise for your students: Choose the answer that best shows use of sarcasm: A: I had an exciting career sucking cocks for beer and pocket change, but then I found a job paying the big public school teacher bucks. B: The big public school teacher bucks wasn't the primary draw for me; being able to guide future generations of students early in their lives was reward enough. C: I has trouble finding kids to diddle, but then I found a job paying the big public school teacher bucks. D: I heard about the big public school teacher bucks, but I think that volunteering as a student teacher is a reward in itself.
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Sep 11, 2013 20:20
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If a person is young and healthy and paying $20k a year minimum in insurance costs, sure there's a pretty good argument against taking it. No one is paying $20k minimum as a single person though. The only people paying those kind of premiums are people with kids. Kids are a financial game changer, not because they're inherently that expensive, but keeping them alive if something goes wrong is and kids are both accident and disease prone. If you are forsaking health insurance with kids, you are a bad parent! Harry posted:I think around $750 a month premium and 11k deductible you have to start seriously weighing risks. I don't think 11k deductibles are eligible plans under ACA. Edit: nevermind, that's for single people, family deductibles can go up to 12k and change. baquerd fucked around with this message at 18:33 on Oct 12, 2013 |
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Oct 12, 2013 18:31
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razz posted:And it drops off totally after I think 25 years. You'll have to look it up. So theoretically if someone racked up $200K in debt and made minimum wage for the next 25 years they'd either never pay a dime of it or would never pay it all off in 25 years due to the minimum payments being so small, it would be "forgiven" before they paid it off. Unfortunately, under regular IBR, the debt forgiveness triggers a taxable income event equal to the amount forgiven. http://www.finaid.org/loans/forgivenesstaxability.phtml quote:The balance remaining after 25 years of repayment under ICR and IBR is forgiven. This forgiveness is taxable because it does not require employment in a particular profession.
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Oct 19, 2013 20:27
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razz posted:Oh I didn't know that. Still, the tax penalty is only going to be a fraction of the amount owed. Yeah, sure would suck if you're making $20k/yr, get $200k forgiven and end up owing roughly $50k in taxes though!
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Oct 19, 2013 20:39
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Nippashish posted:That would actually be awesome because now you owe $150k less. Well, the IRS is somewhat less forgiving, but they're willing to work with you and you can discharge the taxes in bankruptcy. It's far from bad, but if someone doesn't know how to deal with it the debt forgiveness could really hurt.
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Oct 19, 2013 22:09
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My Rhythmic Crotch posted:Because they held onto that money, they had to pay capital gains taxes on it. They definitely didn't need to pay capital gains taxes on it because it was a sale of a primary residence. So they are bad at taxes as well.
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Nov 30, 2013 19:03
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Lelorox posted:I'm dying... This guy is such a sucker my god. Do people like this really exist? I'm glad you asked that. I have a proprietary source of stories of people like this, and as you know there's a lot of interest in hearing these stories. Big interest means big money. Couldn't you use some easy money on the side? Let me set you up with a collection of stories to sell, and I'll throw in a license to resell the stories as long as you pay me a commission, and you can even sell the licenses too! I don't let just anybody in on this, but you seem like the kind of person who can appreciate the opportunity I'm presenting.
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Jan 7, 2014 06:50
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Volmarias posted:To be fair in exchange for our money you would be passing us (comedy) gold so I am now intrigued. Cool, I think you'll be amazed at the money making potential. Imagine not having to work again in your life unless you wanted to! My system can set you up for life just like that. Basically, I need a small upfront fee to cover my overhead. In return, I'll get you a premium account with which you can access the stories. Whenever you sign someone else up, just let me know and pass their payment (minus your commission of course) to me, and I'll take care of the rest. For every future distributor you sign up, you get $20, which is really an amazing commission in today's sales market, but I believe in the system enough to offer that to you. The upfront fee is only $100, which you can make back in less than an hour because really these things sell themselves. Now, are you ready for the best part? I'm not just giving you stories about people bad with money, but thousands of other ridiculously awesome collections. There's collections about just about anything you or anyone else could possibly be interested in: pets, automobiles, cooking, fitness, general bullshit, and so much more. Everything is already organized for you in "threads" which are fully searchable, and you can even add to the collections yourself for free!
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Jan 8, 2014 02:49
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Strong Sauce posted:I don't think most people understand how difficult it is to have a kid. They just think it's a normal progression. Honestly while I understood kids were expensive, I didn't understand the real gravity of having kids until I was ~23 or so. Maybe a year out of college and having to deal with some of my own bills. Honestly, if you have a normal at-home birth, the kids don't get sick, and you put them to work in the fields when they hit 8 or so... Kids more or less pay for themselves.
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Feb 18, 2014 22:12
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spwrozek posted:E:^day care alone runs $1000+ a month. So basically $50k for the first 4 years In a major city, a good day care can run $2k a month pretty easy. If one partner is making under $40k or so, it doesn't make any sense for them to work.
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Feb 19, 2014 20:26
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Jeffrey posted:That is, unless they have a career that they can't stop and start at their leisure. I would think that taking ~5-6 years off or however long would torpedo most careers, so you still gotta evaluate that part of the opportunity cost. If they're making under $40k, they're already at the bottom of any serious career path. Drop down to part time, have the other partner work from home on those days, and you're set.
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Feb 19, 2014 20:33
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Trilineatus posted:I'm a social worker in the San Francisco Bay Area which is probably why that rubbed me the wrong way. The attitude of "why doesn't your retail manager job have the flexibility that my twitter job has?" just kills me. I'm not only in tech, I'm in high finance. The prevailing attitude around here is that if you're in a low-income job, you deserve it and need to deal with the consequences. I want to stay kind of liberal, but from where I'm sitting a retail worker or a social worker either made a choice to not have significant income, just wasn't good enough to compete in a capitalist economy, or was too stupid to see where their choices would lead. Let's face it, if you're an American born whitey, you already had way more advantages than any of the immigrants who are taking your job in retail, and social work was only ever the sinecure of people with more righteousness or idealism than sense.
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Feb 20, 2014 03:42
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I am OK posted:You are super lame. Yeah, but in exchange for this socialism/togetherness/whatever thing you've got going on, I don't have to work past 35 unless I feel like it.
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Feb 20, 2014 03:48
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Rudager posted:Good thing there's an infinite number of jobs like yours for everyone who can work as hard as you. All good points. I worked for 4 years on the night shift, doing 10+ hour days to get ahead. Was I somewhat lucky to get the job in the first place? Sure. Was I lucky to then get ahead? In part. Are there people who are better than me and work harder? No question. At the same time though, I interview dozens of candidates for jobs like the one I started out in, and basically none of them fail to get an offer because they aren't lucky or connected enough, but because they aren't good enough. Space Gopher posted:You're right, the person who takes meager wages to convince starving homeless people that stabbing bankers is a bad idea is really just an idiot with more righteousness and idealism than sense. They should have been a banker too. If a few bankers get stabbed, there are always people willing to take their place. That homeless person will spend a long time working as a slave for the state as a result though. Worth it for them? People who want to be social workers don't make sense to me, but they are keeping the status quo going pretty well.
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Feb 20, 2014 04:05
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FrozenVent posted:So what do you think of the writings of Ayn Rand? People who are bad with money because they weren't educated or didn't have the opportunity are one thing, but people who are presented with the opportunity and turn away from hard work are another. How many of the people who are bad with money in this thread have internet access and enough free time to figure things out if they're reasonably intelligent and have a modicum of willpower? Almost all of them. I think it's fair to say that in a capitalist society, if a person is not interested in learning about the ramifications of capitalism in their lives, they deserve what they get.
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Feb 20, 2014 04:14
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So, my wife's sister is a social worker at a county facility. She spends her time living with her parents and spending her money getting taken advantage of paying to "volunteer" in places like the Dominican Republic and then getting kicked out of her volunteer group for mysterious reasons. Great heart, but she has no savings of any kind and spends all her money trying to make a difference in third world countries. It's really sad because if she just took a minute to max our her IRAs, she'd have a comfortable retirement even though making barely over minimum wage.
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Feb 20, 2014 04:21
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spwrozek posted:She sounds awesome and doing something she loves. Oh the horror... It's cool, just really bad with money.
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Feb 20, 2014 04:28
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For what it's worth, I grew up on a farm and my parents were public school teachers. It's like there's a fundamental mindset difference that results in a near dichotomy of "I'm better than this and I'm going to make something of myself even though I didn't get any help" and "I'm going to help people because I didn't get any help myself and that wasn't right".
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Feb 20, 2014 05:15
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Harry posted:Did I miss something, or is baquerd just conjuring up that all social workers are poor thing out of nowhere? I don't think I said that, but it looks like social workers go from like $40k-120k or so in the Bay Area. That's poverty level to middle-middle class over there - the top end is what a fresh faced 20-21 year old developer makes. Look guys, I really don't want to derail this any further. We have different definitions of what it means to be bad with money, and I'll stick to making fun of the people who are mortgaging their future for a Hummer from here on out. Deal?
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Feb 20, 2014 05:38
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Folly posted:I took it more like "anybody smart enough to do social work is probably smart enough to be an entry level developer." This is probably roughly accurate. It's very nice and optimistic of you to think so, but the entire reason that good developers make such ridiculous amounts of money is because their talents can't easily be duplicated. Someone earlier mentioned a dev loving up dealing with their money like they were a fresh NFL player - that's a good analogy. You can't just *want* to be a professional quarterback, and you can't just *want* to be an all-star developer. It's interesting that one of the two professions gets a lot more hate than the other from the relatively poor masses though.
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Feb 21, 2014 01:10
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Tony Montana posted:You actually equate the basics of learning a language and simple problem solving with helping people with significant life problems. The way you phrase it you actually put it so you're being generous saying that social work is probably about the level of an entry level developer. On one level, you have a point that social work can be very detailed and not have a simple path to achieve goals. Software development is relatively simple and has direct and quantifiable goals. Given the importance society in general puts on making lots of money, why aren't there more software developers?
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Feb 21, 2014 01:16
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FrozenVent posted:If there were more software developers they wouldn't get paid as much? It's not that straightforward. Look to the analogy of NFL players - how loving simple is it to run a ball down the field and not get tackled? It's a hell of a lot easier than social work in principle, but somehow our society pays people who can do this really well hundreds to thousands of times what a social worker makes. Somehow, what seems simple on paper is actually incredibly difficult and can only be achieved by a small minority of people, and these people get paid for it. What does it take to be an NFL player? Genetics plus a poo poo ton of hard work. What does it take to be an all-star programmer? What does it take to be a lovely programmer/football player that nonetheless gets payed well? Now, what does it take to be a loving amazing social worker? I would think that it takes more than either NFL or software development, but somehow the compensation just isn't there. Someone who is capable of achieving that level of performance just doesn't do that because it doesn't make sense in a capitalist society. Therefore, social workers are either intelligent badasses who are poo poo with money, or just not very good at what they do.
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Feb 21, 2014 01:28
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I got made fun of today for working from home instead of taking a $40 cab ride into work.
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Feb 21, 2014 01:50
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VideoTapir posted:Individual stocks didn't necessarily fare so well; and if you got out when you saw them going down, rather than as they bottomed out, then bought back in, you'd've done a lot better than if you left them alone. For some things this would have been obvious. If you knew/know how to figure out when stocks are going to go down further, you'd be a billionaire. Everything is obvious in retrospect. For example, earlier this month, there was a ~6-7% US equity market pullback. Now the market is back up higher than ever before. If you pulled out at the bottom thinking it was going to be another 40% crash, you just lost big.
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Feb 25, 2014 10:21
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Your Dead Gay Son posted:I guess the idea is the used car might totally break down? But then you're dicked on your stupid 20% apr loan. I don't get that advice either... OK, let's say your $6k loan is for 12 months at 2%. That's payments of $505 a month. Your "peanuts" of $65 a month is equivalent to the actual interest rate being 26%. Now, you do get insurance for that, but...
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Feb 27, 2014 18:52
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spwrozek posted:The insurance difference is maybe $30 a month, you have to have insurance you know. You would really take a 20% loan rates instead to 'save' $30 a month on insurance? Ah, I thought you meant the added cost was $65. But no, I wouldn't buy a car on a loan because either the required insurance makes the actual rate you're paying much higher, or you could be stuck sitting there with a loan and no car. Cash only, used only for me.
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Feb 27, 2014 19:54
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spwrozek posted:I would say going pay check to paycheck working 2 jobs to get by to having $10k is pretty life changing. Nah, that's just like a 60" TV and a down payment on a new SUV.
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Apr 14, 2014 18:30
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Talented writer gets undergrad paid for by her parents, lands a full-ride MFA followed by a fellowship, and is living in one of the lowest cost parts of the country. So of course she goes $40,000 in debt for "linen curtains and homemade granola". http://thehairpin.com/2013/11/how-my-obsession-with-furnishing-a-future-put-me-nearly-40000-in-debt
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Apr 14, 2014 19:02
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tuyop posted:I'm starting as a student teacher in September and I have no idea how to make finances meaningful for 15-19 year olds. The rhetoric of freedom and fear and sustainability that worked for 24-year-old me would not have worked on 18-year-old me. I'm really drawing a blank trying to imagine how to present this poo poo as compelling in the face of early-twenties endless credit and instant gratification in the form of basically whatever you want. Sell the dream. "Who wants to be a millionaire here? Guess what? You don't have to be super smart or win the lottery to become a millionaire. If you just save a little money in the right places you can be a millionaire even if you spend your entire life working at McDonalds."
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Apr 15, 2014 17:59
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HoogieChooChoo posted:Holy poo poo. That woman I posted with the "Quantum Generator" gofundme? The one who raised $32k? Yeah she has another gofundme, on the next page. It's that old quandary, make a legitimate living online drop shipping, SEO'ing your blogs with ads, etc., or scam some anonymous retards until you scam the wrong person or scam too hard and catch a bad case of the feds. Crowdfunding has just made the latter so much easier. Guinness posted:It just blows me away that people are okay with spending an hour or more commuting each way, especially if you are in an SOV in traffic. At least if you spend an hour on the train or bus you can read or even do work. If you're stuck in traffic you're basically just wasting time. I guess you can listen to a podcast or book on tape or whatever, but that's still SO MUCH lost personal time. The big kicker is when you have kids. All of a sudden, a person who didn't want to even consider a commute over 30 minutes is all about the hour long commute to allow their kids to have the right schools and neighborhoods.
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Apr 23, 2014 06:32
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John Kelly posted:From time to time I like visiting the DOD clearance website that was brought up earlier in the thread. Just to open a  here, can you get denied security clearance for being massively overweight?
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May 5, 2014 02:36
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My money says he'll have another credit card outside of her control within a week or two.
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May 9, 2014 14:34
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canyoneer posted:I once dated a girl who was a money fountain to her friends, cousin, sister, etc. She made like $12/hr as a massage therapist and didn't get a lot of hours. I had no idea how she was financially surviving. She does happy endings? The stories of people making relatively bad financial decisions (taking out loans) to help family are the worst. The financially correct decision is to tell them to abandon their families and go full on FYGM. If you're supporting a crack addict, it's a pretty easy decision, but if it's a failed entrepreneur with 2 kids it's a lot harder.
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May 17, 2014 03:51
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I am OK posted:Is that the dude who can afford to, by won't, buy his daughter braces because he sees it as an unnecessary expense? In all fairness, braces are wasted on a lot of people. My wife and I would both have been much better off without braces and with the invested money spent on that crap. You have to wear the retainer basically forever, and if you're a kid/teen, you're not prepared to make that kind of commitment.
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May 17, 2014 03:52
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Guest2553 posted:Can't see any flaws with that plan, no-siree. Take out $50,000 in savings. Put it on black in roulette five times at a table able to support that limit (warning, these might not exist). You either have enough to retire on or you're out $50k. Much less trouble than currency trading.
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May 21, 2014 04:01
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| # ¿ May 4, 2024 09:31 |
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canyoneer posted:Yeah, of course, that's the first troubleshooting question in the computer help threads here when people have problems running games Some people (who are bad with money) treat their gaming computers like thoroughbred horses. Nothing goes in or out except for pure gaming. No antivirus, no peripherals that aren't gaming related, nothing running in the background that's not strictly necessary, all in the pursuit of getting a few more FPS or to turn up a graphics setting a little bit.
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Jun 18, 2014 20:06
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