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Working through college probably wouldn't have even dropped him below 100k in loans.
mastershakeman fucked around with this message at 02:36 on Mar 9, 2014 |
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Mar 9, 2014 02:33
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Cyrezar posted:Well keep driving a 15-year old Ford and may god have mercy on your soul He probably died because it was a SUV, not because it was old. Being in a brand new Ford Explorer or whatever may have well had the exact same result. Saying any non-"safe" vehicle is a bad decision means that every single person buying a SUV is making a mistake, as they're the least safe vehicles.
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May 5, 2014 01:11
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Nail Rat posted:I won't derail too much, just going to leave it at that we've priced that stuff out too but are taking it out of our ordinary fun money for the year instead of having her dad pay for it, but all I'm saying is that poo poo plus decorations, programs, etc. should not be 20k. With 30k and a 10k venue, not providing food and drink is a pretty bad fail. What's the venue you're looking at? I'm starting to look at places in Chicagoland as well and am going to shoot myself, especially since my girlfriend wants to do the wedding at her church in Kenilworth and the reception nearby.
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May 6, 2014 19:36
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VideoTapir posted:
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Jun 13, 2014 16:27
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canyoneer posted:No, I get it and agree. I was responding to the "is spending any money on hobbies bad?" poster. The thing that's crushing him is the private loans not being IBR eligible. A friend of mine is in a similar situation, where he can IBR some, but the rest just require whopping payments. Meanwhile, colleagues of mine with 250-300k of debt somehow have the entire debt load under IBR/PAYE, so they don't care whatsoever about how much the total is, since it's completely irrelevant.
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Jun 19, 2014 16:35
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Effexxor posted:I feel for him in that getting denied access to the bar is kinda lovely but... those loans, if they're still around, are older than I am. He probably defaulted at some time, which is reason to not get a license to practice. Not sure though, I would need to see the payment history to know more. Still, to not even throw a $5 payment to the loans in 26 years? I certainly hope you don't think defaulting on payments (mortgage, credit card, student loans) or declaring BK means you shouldn't be licensed to practice law. That's pretty ridiculous.
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Jul 3, 2014 19:16
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He's probably on PAYE but his payments are based off of old , low incomes. My guess is he's an attorney and the payment is calculated based on his summer earnings between his 2L/3L year. PAYE legitimately does give full forgiveness after 20 years, or 10 if you're in public interest. So he's fine until he submits his income statement and sees his payments shoot through the roof to 10% of his AGI. It'll be like $1200/mo instead of the $200/mo. Edit- more than half of my colleagues have 200k in debt, make like 1/3 what this guy does, and are also banking on the 20 year (or 25, if they're on IBR) forgiveness. It's not uncommon.
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Jul 14, 2014 18:49
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Is there any actual distinction between 'for-profit' colleges and run of the mill private (non-ivy) ones? Or is the distinction just that of employment/graduation metrics?
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Jul 17, 2014 17:32
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Wasabi the J posted:Transferability of credits is a major one. I'm not so sure that's a usable metric, though. Having to go figure out what random places like Depaul, or Depauw, accept as credit transfers vs UoPhoenix isn't anything I've ever seen done. Being for-profit vs nonprofit doesn't seem to really matter, the only difference is worse job outcomes at a worse price as far as I can tell, but schools definitely don't want to be ranked based on those and are just going to say there's a distinction (without a difference) in non/for profit.
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Jul 17, 2014 17:43
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KYOON GRIFFEY JR posted:If you buy a tractor don't buy a Deere. Blasphemy, you probably support that commie colored International don't you  *dons Pioneer hat, kicks dirt at anyone wearing FS*
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Aug 12, 2014 17:33
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OneWhoKnows posted:Man, everybody I pass by has a shiny new John Deere tractor, too. It's almost like there's this unspoken peer pressure for getting one of them. It's all that corn/soy money, I tell you. After the $7/bushel corn a few years ago when there was also a good harvest/no drought in the midwest, pretty much everyone was able to afford new purchases of equipment they'd wanted for years. 
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Aug 12, 2014 22:14
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Rick Rickshaw posted:I like how lots of people are willing to blow thousands of hard earned dollars on the newest vehicles under the veil of "safety", but yet they haven't taken a driver's training course of any kind since they were 16. How am I supposed to avoid an accident when I'm either dozing off at the wheel or texting/surfing the web on my smartphone? My car should do the braking and steering for me.
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Aug 25, 2014 14:51
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Ethiser posted:Even if you live in an American city without a car how do you travel? I've never been able to figure our how you make that work. I live in the suburbs/country so I need one anyway but how would I go visit family and friends who live elsewhere? Basically, those people rarely if ever leave their neighborhoods and demand everyone else comes to visit them, or at best will meet up for after work drinks assuming their friends all work in the same business district. It's really annoying.
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Sep 16, 2014 18:35
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Florida Betty posted:Only if you insist on inviting everybody you know. Or you have a large family that you're close to, that right there will do the trick.
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Sep 18, 2014 00:51
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Thesaurus posted:If only there were an option, some sort of middle ground, between $100 and $50,000 weddings The middle ground is a $25k wedding! 
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Sep 18, 2014 18:14
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Eternal debt or exclude my extended family... Screwed either way!
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Renegret posted:I don't know what's worse, this, or my coworker who has no 401k. Hey now not everyone's work gives them 401k matches 
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Sep 26, 2014 18:20
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CellarDweller posted:Honestly with that much debt the best solution is to just stop trying to make payments. Having 15% of your pay garnished for the rest of your life sucks but it is better than hiding in Somalia or shooting yourself. I don't know why garnishment isn't an option for more people. If you're making median wages and have 6 figures of debt it's cheaper to just accept life long garnishment, as crazy as that is. I wonder if you could stack garnishments on purpose (such as IRS ones) so as to stiff the loan companies even harder? That being said a friend of a friend of mine did the whole 'gently caress this I'm out' when he had too heavy of a debt load. However, he took out a bunch of credit cards right before he left, bought HDTVs and sold them for cash on craigslist, and left for south america with a briefcase of cash. Definitely worth doing if you're going to flee the country.
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Oct 3, 2014 00:12
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Armacham posted:Yeah, the bookies I know one , his entire profession was gambling on golf. But once Tiger stopped being such a force that dried up for him ( I believe he was usually betting against Tiger because the line was so high due to the general public backing him).
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Oct 20, 2014 15:12
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It's incredible that in a lot of areas, housing prices are well above the bubble. It's just that those areas the the 'nice ones' and the 'bad ones' are still incredibly depressed and going through foreclosures.
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Nov 7, 2014 19:52
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CellarDweller posted:In the states you have two options to get rid of student debt. Nah, the most popular option these days seems to be 3) Pay a tiny amount, hope the remainder gets forgiven in 10-25 years, then that forgiveness is forgiven by the IRS.
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Nov 22, 2014 01:05
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Not a Children posted:I can't imagine the size of your emergency fund coming up in casual conversation unless it's something you're explicitly asked by someone you're familiar with. Talking yourself up money-wise is considered offensive to some, basically a few notches below blurting out your dick size. You don't have to pretend you don't have money saved up, just don't go bragging about it in front of other people, it's in bad taste. It's really, really easy in expensive cities and if you have an active social circle. I mean poo poo here's a Chicago example: Tu/F/Sa : 2 drinks tuesday, 3 fri, 4 saturday. Beers are 8 bucks each on average. 72 bucks a week for just beers. Now think if you get a cocktail or two, or drink heavily or more frequently - I've had years where I went out 5 nights a week (but carried a flask, the BFC approved choice). So let's say heavy drinker, 4 nights a week (so 4,4,6,10 drinks for 24 a week), and 10 bucks on average including tip. 240 bucks a week. Just under 1k a month. If you get cocktails and go to the prime happening places, or live in NYC/SF it'd easily be double that. vvvv I'm just explaining how it's very easy to do when one's social life revolves around going out and having drinks v0v mastershakeman fucked around with this message at 02:04 on Jan 16, 2015 |
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Jan 15, 2015 23:26
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xie posted:A proper Berlinerweiss is the best thing in the summer. Way better than a shandy. A white donut?
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Jan 17, 2015 18:25
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Krispy Kareem posted:Mostly because of unemployment. Many of the awful adjustable rate mortgage time bombs didn't explode in cost because the Fed kept interest rates so low. But you can't fix the lack of jobs. To put this even more into focus, a lot of people had the opportunity to get loan modifications through HAMP to 2% rates. You'd think that going from pre-crash 6%+ rates down to 2% would make the payments affordable, but between a combination of no jobs, jobs that pay less, and simply not paying their mortgage for so long, a lot of these potential loan mods could never go through. It's kind of crazy but in a lot of situations it's a choice between owing double the value of the house at 2%, or just fighting out the foreclosure as long as possible so as to get free rent and save up for an apartment/next place. I do foreclosure work in IL, where it takes about a year from the lawsuit being filed (and as seen in this article, they've lived 6 years without any action being taken) to lose the house. That's if the person never shows up to court. If they do, and if they get a lawyer (most defense lawyers charge 1/3 the monthly payment of the house), they can stall it to 5+ years, easily. I see 2007 cases every day, and I'll bet some of those have people who haven't made a payment in 10 years now. Talk about good with money if they strategically defaulted. Let's say 2k/mo in principle+interest+insurance+taxes that isn't being paid, for 5 years - 120k saved. This could easily go up into the 2-300k range if the case takes even longer. Plus lots of tricks with HELOCs that people do when they strategically default, it can make an awful lot of financial sense.
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Jan 29, 2015 02:26
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Before you poo poo too much on people without savings, I'm 33 and have zero because I've instead spent over 70k paying off 6.8% student loans the last 6 years. It's arguable which way is better.
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Feb 11, 2015 14:33
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What's a 401k match (says my employer, a 300 person law firm)
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Feb 11, 2015 15:31
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If you can't afford a 6k deductible , declaring bk for that isn't much different from declaring bk for 60k. Worst case you have a hospital stay overnight nye and owe 12k. Also a free doctor visit under the Aca converts to one you pay for if they find a single thing wrong, which will happen.
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Feb 12, 2015 00:24
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jon joe posted:What about having a much smaller, more space efficient (and therefore cost efficient) home built custom? It might have been linked in this thread before, but I like ted talk (I know, I know) on tiny homes. The problem is the lot value in most cities is the primary cost driver.
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Feb 12, 2015 02:02
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Leroy Diplowski posted:Depending on where you live rent can be artificially inflated. 25% of the population of my town is college students. Going from renting to buying (with a 5% dp) will save us $200 per month (yes that includes property taxes, insurance etc) and we are going from an 800sqft house to a 1200 sqft house that is much nicer. I think that's why it's so important to know your market rather than just rely on some prevailing wisdom. I think college towns are really the exception, especially now with very inflated rents due to the flood of student loan money.
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Feb 20, 2015 00:09
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Cultural Imperial posted:This obsession with credit score I feel like the only people who care about their credit score are the ones who shouldn't be able to get any credit. The exception of course being getting a mortgage where it influences your APR.
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Mar 17, 2015 13:34
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The Mandingo posted:Bad with money: How Do I Become a Millionaire, also I want to buy a Lambo or maybe a Tesla Good with money: buy house, take out heloc, buy tesla with heloc, live in house for 5+ years without making a payment by fighting the foreclosure. And w/r/t weddings, I went to school with these two and am friends of friends with them. http://abovethelaw.com/2011/03/lawsuit-of-the-day-jilted-lawyer-bride-sues-sidley-associate-for-wedding-expenses/ Tldr , successful suit against ex fiance for 60k+ in wedding deposits.
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Mar 24, 2015 20:51
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the littlest prince posted:Well, they settled, and for an undisclosed sum - it never actually went to court. Somewhat different than what calling it a successful suit implies. Again, I personally know them. The settlement was in full.
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Mar 24, 2015 21:57
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This woman is the only horse owner who was good with (everyone else's in the community for 20 years) money. http://en.wikipedia.org/wiki/Rita_Crundwell quote:Crundwell's Quarter Horse operation, RC Quarter Horses, was one of the best-known Quarter Horse breeders in the country; her horses won 52 world championships and she was named the leading owner by the American Quarter Horse Association for eight consecutive years prior to her arrest.[1][5][6]
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Apr 8, 2015 21:10
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Chris Roberts is probably the single best good with money person on the planet. Bilking 50 million out of idiots, legally, and having them love you is genius. Edit: did I say 50m? I meant 77 and counting mastershakeman fucked around with this message at 14:03 on May 18, 2015 |
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May 18, 2015 13:38
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silvergoose posted:Sounds like the Glory to Rome guy who lost his house over a kickstarter he did. How did he lose his house?
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Jun 11, 2015 15:16
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The dirty secret about student loans/garnishment is that it absolutely makes sense to run the loans up as high as possible then just let garnishment happen. There's a limit on how much of your paycheck can get garnished and if you're making median income it's something like $600/mo which is way way less than what most people pay if they have private loans that can't be solved with IBR/PAYE. Even better would be to have a kid in a committed relationship but not get married, and let the state garnish that paycheck which I think takes priority over the student loan garnishment. Whee!
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Jun 16, 2015 15:01
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pig slut lisa posted:Thanks for the sense of superiority over "economic illiterates", guy who posted this: It seems like every person thats over 6'0" thinks they're wilt chamberlain and cant fit into a normal car
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Jul 11, 2015 16:22
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Nail Rat posted:If at least one side is Irish Catholic, you'll easily have 100+ just from that side. Yep, I couldn't invite most of my friends to my wedding because I have just over 100 relatives that are first cousins or closer (I'm friends with some second cousins as well that didn't make the cut). Both sides of my family are farming oriented and 80% of the relatives live in state. Then factor in that I grew up and went to school within 150 miles of my current location and I could have invited 200 people myself, and I'm not even that socialble.
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Jul 17, 2015 14:38
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I'm strongly considering moving from a 1bd to 2bd for just over double the rent but the 2bd would have a direct view of the lake and be about 50 feet from the sand beach. Bwm.
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Jul 28, 2015 04:30
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Desuwa posted:Yeah that's illegal. What might not be too stupid is finding some cards with low introductory rates on purchases and charging normal and necessary purchases to them and putting the money you would have used on those things towards the loan. It's the same idea, trading high interest non-dischargable debt for low interest debt on a CC during its introductory period that, in worst case, can get discharged. They'd also be free to balance transfer that debt to another card. You'd quite likely not get a discharge in a situation like this. Ch7 isn't a guarantee.
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Jul 28, 2015 13:21
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Student loans haven't mattered since 2007 when ibr, and later paye, came into existence. As long as private loans are avoided you're better off maxing out public ones like gradplus and stafford. I know dozens of people with 200k+ in loans and a few at 300+, and they pay less than me per month due to ibr/paye.
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Jul 29, 2015 14:51
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