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Haifisch posted:http://www.reddit.com/r/personalfinance/comments/1syosc/should_i_invest_in_a_condo_in_ann_arbor_while_i/ I've heard quite a few people argue that buying your kid a house to live in while they go to college (Or buying yourself a house / condo near your college) is a great investment. Because you can rent it out once they move out, or just sell it back I guess. 
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Dec 16, 2013 18:36
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My Rhythmic Crotch posted:Thank loving god it didn't work out with her. Uuuuuuh, if you'd married her you'd be making six figures, obviously you're the one who's bad with money here.
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Dec 17, 2013 02:52
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Nail Rat posted:I think the proper response to that question should have been to ask for the check and say goodnight. How obvious can a gold digger get? The date's ruined anyway, might as well have fun with it. "So what properties do you own?" "Who are you, the IRS? Are you wearing a wire?"
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Dec 17, 2013 21:11
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Sudden Infant Def Syndrome posted:60k a week? 60k in a week. But they only work one week a year. It's one of those jobs where you make a shitton of money and people will tell you "Oh yeah do that for like five years and then retire forever!"... and that never happens, because welp, there's 60 grand in your bank account, what's a $15 000 truck?
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Dec 18, 2013 21:52
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Not as dramatic as fishing, but there's plenty of merchant seamen who take exactly the amount of vacation that'll allow them to spend the year's income, and if for some reason they get laid off early, welp, panic time. Most of them also subscribe to the idea that if you work more than a certain amount of overtime, you loose money because of taxes. My favorite was the guy who had a gigantic house, gigantic jet ski, two huge diesel trucks, a brand new pool and what have you, but had to work 9+ months a year to be able to afford it (IE, he was working 270+ days a year, if you work 5 days a week without any holidays you'll work 260). Oh and he'd put everything in his wife's name, because she was a native and thus... taxes I guess. The wife he spends at most 3 1/2 months per year with. I have not heard of the guy in four, five years (and I have no interest in seeking him out) so there's no punch line, sorry.
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Dec 18, 2013 22:00
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tuyop posted:What the gently caress does "in my current name" mean? quote:ANYWAY, my degree is in my previous name and because my family are major donors to the school, it's a bad move to transfer it into my current name. That really limits my ability to find a job that could reasonably pay off my debt. Also, did I mention my field of interest is sustainable agriculture? Even in the best of situations, that doesn't exactly bring in investment-banking-type money.
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Dec 21, 2013 17:38
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Harry posted:Isn't it really hard to rack up that many student loans other than being a complete moron? Grad school, maybe? My ex had something like 20k from a 3 year CEGEp program, they pile up pretty quick.
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Dec 24, 2013 16:20
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tuyop posted:Isn't CEGEp just like, fancy high school in Quebec? Sort of, it's 12th grade and the 1st year of university if you're doing a general program, or equivalent to a college program if you do a 3 year technical diploma - she got the later. Her parents were in that income bracket where they made enough that the government figured they should assist her financially, while not being able to afford to send their kid to essentially free school the next town over (They weren't great with money but their main problem was that they had a family income of something like 35K) Three years of living expenses aadding up to 20k isn't that bad. It's what I got from my parents (Combined family income was about 4x that of the ex's parents so they just gave me money  ) for a four year program.Guess she could have worked during the school year, but that wasn't very common in that town (It's about a 1:1 student to actual inhabitant ratio so service jobs filled up quick) Edit: Although in the end the diploma she got was pretty worthless so yeah.
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Dec 24, 2013 16:55
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21% is a pretty standard rate, it's about what my credit union does if you don't pay like $35 a year for the low-interest option (in which case it drops to like 11%)
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Dec 26, 2013 13:58
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That just sounds like someone who's down on their luck, it's hard to be good with money when you don't have any. The rent thing wasn't smart, but that's legal stuff and honestly a common misconception, and the drinking binge, well... Many of us would have done the same.
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Dec 28, 2013 16:23
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SlapActionJackson posted:I'm sure it gets used as a rationalization, too, but it's actually pretty common for employers to lay out minimum car standards for people whose jobs have lots of client interaction away from their office. I know our sales reps are required to have large-ish 4-door cars, maximum of 5 years old and 100K miles. So unsurprisingly, to stay compliant most sales reps simply buy a new car every 5 years or lease a new one every 3/4 years. Isn't that one of the few cases where it makes sense to lease a car?
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Jan 9, 2014 16:33
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Saros posted:http://www.reddit.com/r/personalfinance/comments/1vo8mg/us_possibly_buying_a_house_are_we_ready quote:Currently neither of us contribute to 401(k). Our son is on my health insurance, and she pays for single coverage (for both the employment flexibility, and to reduce my taxable income). When we get married, we will switch to a family plan. I plan on taking my portion of the life insurance and paying our credit cards and revolving accounts down to $0 again. We plan on banking the rest to put toward a honeymoon possibly (since we don't know when/where we would even go yet). Ahahahahahahahahaha indeed. Also they're spending $40 a month on credit monitoring  Edit: Oh Christ the responses: quote:[–]Ccswagg 5 points 2 hours ago
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Jan 20, 2014 20:41
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If they don't save, they'll never have enough for a down payment, duh.
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Jan 20, 2014 23:43
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Anything that involves putting money into a car as an investment is usually worthy of this thread, really.
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Jan 21, 2014 21:06
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White Chocolate posted:If someone gets canned for this the lawsuit would be so good. A lot of US states are "Right to work", the employer can fire someone at any time for no reason. If they were to send you a letter saying "You're fired because you discussed wages with a co-worker" then yeah, poo poo would go down, but otherwise you'd have a fun time trying to prove that's why you were fired. Unionized workplaces or places with decent labor laws, that's a completely different animal of course.
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Jan 21, 2014 22:45
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He's eating that juicy new-car depreciation every five years though.
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Jan 22, 2014 16:09
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Zo posted:This is an interesting point and I'm curious why you disagree. How should joe bob diversity his $2000? Why is just dumping it all into a mutual fund such a disastrous idea? A mutual fund is diversified, that's the whole point of the drat thing.
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Jan 22, 2014 18:53
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Zo posted:That's true. I guess I was interpreting the article's use of "diversify" as in actually splitting up your money into a bunch of different ventures, instead of inherent diversification. When people talk about non-diversified investment, I always think of those people in the Ottawa area who were holding on to a shitton of Nortel stock, back in the late 1990's, early 2000's. Some people had most of their retirement in that single stock. Ever heard of Nortel? Recently? No, because they went belly-up in a spectacular fashion. That's why individual investors shouldn't buying into specific stocks, not in a major way anyway. And then there's employee stock purchase programs, which are the very definition of putting all your eggs in a single basket...
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Jan 22, 2014 19:04
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tiananman posted:Well, there's more to it from a management perspective. Yes, it's obviously about keeping costs low, but it can also create big problems for workplace morale and teamwork if everyone knows what everyone else is paid. Some people are going to feel cheated or slighted - no matter what. Now you either have a disgruntled person in the office, or you have to give a bunch of people raises. This cycle could continue for a long time. Kinda weird how places where everyone knows everyone's pay (E.G. Unionized places with rates in the agreement) don't have those problems, though.
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Jan 23, 2014 17:04
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Jeffrey posted:Even non-scam colleges have programs that are for-profit. Like they have programs they care about, and others that only stay around with low admissions requirements for the easy money. A number of big schools care a lot about undergrad and PhD programs, while treating terminal masters programs as cheap sources of income to pad their budgets. Aren't law schools usually huge profit centers, too?
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Jan 23, 2014 23:15
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That was the best thing about working at sea, you'd have someone wake you up half an hour before your watch, and if you didn't feel like showering, you'd go back to bed for another ten, fifteen minutes.
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Jan 25, 2014 05:22
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corkskroo posted:Just dropped a bunch of junk off at a fairly grimy thrift store. A couple was shopping for clothes. She was wearing a full length fur coat and a fur hat. I followed them out and watched the load their haul into a shiny late model BMW. Shopping at a thrift store is actually being good with money, though.
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Jan 25, 2014 21:54
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My brother just called asking me to float him rent until payday. The brother that used to live with me until I kicked him out because he was 6 months behind on the rent. The brother who hasn't refunded a single family loan in three years.
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Feb 1, 2014 01:54
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OneWhoKnows posted:Did you say yes or no? I told him to swing by my place (we live in the same building) when he was done drinking at whatever place he's at. I'm probably going to have to swing him some money, because family and all that. Our parents are retired so I'd rather he didn't go to them. I don't need this at tax time, but then work just hosed me over on my vacation so I'm going to be saving some money there  (To preempt the e/n, I know I could turn him down but I don't want to, and I'm going to require him to write a drat budget down before I loan him poo poo)
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Feb 1, 2014 02:51
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Xenocides posted:So he can afford to go out drinking but not pay his rent? Hence why my assertion that he's bad with money.
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Feb 1, 2014 03:02
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How the gently caress did we get fm "my deadbeat brother won't make rent" to alcoholism and codependency? Jesus people, find a hobby or something. He's worked something out with the landlord, for the record. FrozenVent fucked around with this message at 22:09 on Feb 1, 2014 |
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Feb 1, 2014 21:31
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CatsOnTheInternet posted:Jesus. I don't understand why it's so common for seemingly intelligent, educated people fail to anticipate how expensive children are. They come out free! In fact, you save money on pills and condoms!
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Feb 18, 2014 17:27
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Yeah but he's gonna make 500k off his company's IPO, it's all good guys!
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Feb 18, 2014 21:11
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I'd rather if they dealt with it like civilians do and the government spent the money elsewhere, it's not like there's too much of it going around. Anyway after this week's mess, I wouldn't be surprised if relocation benefits for the Canadian military were seriously revised.
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Feb 20, 2014 00:57
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SpelledBackwards posted:I choose to read that as, instead of saving for a car, he spent $900 on an 18-year-old hooker whose pimp is a mechanic. That fits better with this thread. There's an underexploited business model. Get your oil changed while you get your oil changed!
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Feb 20, 2014 01:08
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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 everybody was a banker nobody would be homeless, duh.
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Feb 20, 2014 03:56
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baquerd posted: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. So what do you think of the writings of Ayn Rand?
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Feb 20, 2014 04:08
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baquerd posted: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? If there were more software developers they wouldn't get paid as much? I'm having a hard time reconciling your position that anyone who can't make it just isn't working hard enough with your position that only God's chosen few can make it as programmers.
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Feb 21, 2014 01:20
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If you got that many people in the office, you might get management to pay for it as part of a morale boosting effort or something. We're getting one as part of the office remodel, I can't wait.
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Feb 21, 2014 23:16
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Haifisch posted:According to the rest of the comment chain, that's over 2 million USD worth of bitcoin Plus you can't actually cash it out, and haven't been able to for over a year. If the dude's closer to the average bitcoiner, he lost in the low five figures, at most. These people weren't rich people to start with.
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Feb 26, 2014 19:29
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Although it's probably not as much of a loss depending on when he got them(and considering that cashing out would torpedo bitcoin's value), goddrat.
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Jeffrey posted:Well you could have cashed out the coins(not money) until very recently, no? I'm genuinely not sure here, but I thought you could get your coins, and sell them on another exchange which actually pays out(at a lower price), no? I haven't really followed all the bitcoin stuff, is bitstamp just as hosed as mtgox was ~6 months ago? It's apparently really loving hard to get any significant amount of money out of any exchange. As in they'll literally ask you why you want to cash out, don't you believe in bitcoin anymore? The best way to cash out is to use bitcoin to buy gift cards and use that to buy poo poo. There was a goon from Canada whose friend was trying to cash out, and none of the exchange would wire to a Canadian account; they went on an hilarious romp where they'd meet people in McDonald's to exchange bitcoins for bags of inactivated Amazon cards and poo poo like that. Check out http://buttcoin.org/ for the full scoop, bitcoin's a neverending font of hilarity.
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Feb 26, 2014 19:36
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Volmarias posted:You realize that you can own fractions of a bitcoin, right? Exactly, so you can pay for your candy bar with .00000021 bitcoins! (Bitcoin's currently only divisible to 8 decimals, but once they get everybody who mines to agree to a change in the protocol they'll fix that right quick!)
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Feb 27, 2014 04:08
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I am OK posted:Wait. This dude has no memory of 2008 at all? The real estate industry has done a pretty good job of convincing people that that was a blip, that they've fixed the system, whatever. Or, in Canada, that it'll never happen in Canada.
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Feb 27, 2014 15:54
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It depends on your level of risk comfort, in a way - once the car does break down and need that expensive repair, its value is pretty much shot (Unless you do the repair). It's probably not going to break down at 100k miles, slightly less probably not at 120k, and so on, until it actually does break down. So when you decide to say "gently caress it" and just change the thing even though it's still fine right now depends on how much risk you're willing to take. That's how I'm told it's approached for industrial machinery and parts, anyway. This belt is 20% likely to snap at 6000 running hours? Let's just change it at 5750, even though it's still good.
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Feb 27, 2014 16:29
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Sudden Infant Def Syndrome posted:It's almost as if you do preventative maintenance, your car (machine) will work out better for you in the long run. Preventative maintenance will only get you so far, though. (Plus in industrial applications there's situations where it's not as cost effective as waiting for poo poo to break down or almost break down but anyway) I wouldn't get a new car every five years, but I can sort of understand the reasoning.
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Feb 27, 2014 16:51
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