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spwrozek posted:All of our pay grades are on the intranet so you can basically know within a few thousand bucks what every single person makes. My employer does the same. I hear lots of people on sites like Bogleheads/Fatwallet finance who claim that the ranges don't count for "A Players", that they exist for the rank and file. I'm in the stated range, so I guess that makes me a sucker!
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Jan 23, 2014 15:56
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I've always had a feeling in the back of my head that there is a huge opportunity for a celebrity/sports financial advisor role. Young guys who know nothing about money go from broke college student to millionaire overnight and everyone is shocked that most of the money disappears. Three years later, the average (NFL) player is out of the league and regretting those awful decisions, when even a small amount of restraint would have really paid off.
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Jan 27, 2014 16:36
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I picture it more like the zaurg thread with $100,000/month in the "blow" category and an aircraft instead of a pool table.
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Jan 27, 2014 17:26
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Coworker stories. The older guys that work with me are obsessed with backup generators. How big is your generator? Can it fit in a truck bed? How much juice does it put out? Which new one are you going to buy this season? (!??!) How often do you test it? How many tv's can it run at once? Can I come see yours sometime after work? (Why don't all of you just read a drat book when the power goes out?) The worst part is that this was happening before Hurricane Sandy, so their one week of generator use has absolutely validated the obsession. It has snowed a ton this year and before the first flake falls on a given day, it's generatorchat for an hour. I do not understand.
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Feb 28, 2014 04:46
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Your Dead Gay Son posted:Yeah, hasn't this dude heard of paper plates and ordering pizza?? Have we learned nothing from zaurg? Paper plates are evil, immoral, and not economical!
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Mar 23, 2014 05:05
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pathetic little tramp posted:Man I wish I knew where this masturbatory love for index funds came from; yeah generally index funds safely rise year after year, but thinking they always go up is just as dumb as thinking anything will always go up. Markets correct themselves and what do you do if you're regarding an index fund as a savings account and the market decides it's time to correct itself when you're 64? Not sure if sarcasm but you're correct that a 100% equity portfolio at 64 is not a great idea.
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Mar 24, 2014 02:13
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more friedman units posted:No, I think he's right. If it was the identical story about somebody's brother, I doubt the first reaction would be, "I'm guessing your brother's attractive." Pretty likely that the average guy would have talked a policeman out of a DUI after crashing into a light pole at 4am. Right.
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Mar 26, 2014 02:50
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Chomskyan posted:He also spent all of his financial aid on random poo poo (~$3000). Now he literally doesn't have any money for food besides $40 he gets from his mom every month. Thankfully he paid his rent up front (the school automatically deducts it from his account) This is why I do not automatically feel bad for people with crippling student loans. Hope he's not pursuing a BA.
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Mar 30, 2014 19:24
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MLM is really sad. I know some very smart people who are involved and it kills me a little every time the topic of work comes up, but I really can't say anything to them. For anyone who hasn't already seen/heard, there is a great podcast on Skeptoid about MLM ( http://skeptoid.com/mobile/4176 ) and a pretty good (NSFW) episode of Bullshit titled Easy Money which is available on YouTube. Edit: on average, playing roulette is a better way to make money than MLM. Just think about that! antiga fucked around with this message at 15:07 on Apr 1, 2014 |
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Apr 1, 2014 15:00
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spog posted:The problem here is that there is a thin line between selling something that friends and family want and becoming that friend/family member who is disliked and avoided as they are always trying to guilt you into buying stuff that you don't want. Yeah, be careful with the friends and family bit. My girlfriend gets calls from f&f about Lia Sophia jewelry orders and super special pricing late at night around the end of the month, which I doubt is coincidence.
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Apr 1, 2014 16:02
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Reading posts like that make me feel stupid for not being able to con some firm into paying me $175k/year. Amazing.
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Jun 18, 2014 00:31
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Dwight Eisenhower posted:I went there too and was lucky enough not to have to incur any student loan debt to go. I dunno, it's expensive but the (engineering) degree is actually worth something in terms of employment. If you're spending 200k for (e: something that has no job prospects such as) electronic media I don't know what to say. Content: the government could easily track the schools whose students cannot pay back their loans post graduation and not allow such schools to get federal loan funding. As far as I'm aware this isn't happening but it would shut down DeVry et al pretty quickly I imagine. antiga fucked around with this message at 04:09 on Oct 4, 2014 |
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Oct 4, 2014 03:54
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I would not pick a school that is known primarily for engineering and not study engineering. If you got something out if it I'm happy for you.
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Oct 4, 2014 04:04
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Perfect example of why a small amount of information and some early success can be extremely dangerous. You think you've got it all figured out, the success gives you the overconfidence to double down and turn a small loss into a catastrophic one.
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Oct 5, 2014 17:44
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That is a heartbreaking read but honestly post-Enron I don't understand how a person goes all in on one stock. Greed is all I can come up with.
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Oct 8, 2014 18:57
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Even if there is a very successful lawsuit (unlikely) those guys will only recover a tiny fraction of their investments.
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Oct 8, 2014 20:49
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I suspect that part of the reason that payday loans charge usurious rates is that they have an equally outrageous expenses (collections, write offs for non payment/bk). Not to suggest that the owners of such outfits aren't living large, but otherwise there would be a line of hedge funds a mile long operating payday loan shops and driving down the rates. At the population level, i can only imagine the primary reason banks don't want to do business with such a big segment of the country is that they're not profitable customers.
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Oct 21, 2015 15:40
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Uncle Enzo posted:1. Don't give those fuckers any ideas It could be hedge funds staffed entirely by Hitler clones and the rates would still drop if there was competition for the customers and the business was profitable at the lower rate.
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Oct 21, 2015 15:55
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BWM: falsely charging time. A coworker of mine is being investigated for rather brazen mischarging of labor hours. They've been here for six months and if they quit or get fired in year one, they're obligated to reimburse the entire relocation package and signing bonus. Easily 2/3 of this person's annual salary in total.
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Oct 21, 2015 21:18
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Guinness posted:I'm dying of curiosity; just how brazen are we talking? Pretty bad, they implied they were out of office visiting with a client but later revealed it was absolutely not a client they were seeing. Inexplicably they defended the time charging when asked. It is defense related but fortunately for this person it wasn't a DoD charge so it's not going to be prosecuted. Unfortunately for this person the dollar amount of that repayment is north of $50k if the company decides to terminate them.
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Oct 22, 2015 18:59
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Suspicious Lump posted:That girl is a psychopath. All for a loving holiday! Which she presumably would have enjoyed from a wheelchair
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Dec 1, 2015 05:15
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Among many BWM aspects of Uber, Uber's implied valuation based on VC funding is $60-70B. That's more than Ford, GM, Honda, etc. Obviously there's a lot of earnings and not a lot of assets which people used to come to that valuation but it just screams tech bubble to me.
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Dec 10, 2015 22:01
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Subjunctive posted:You're reasoning about this wrong. These deals are mostly done in stock (not sure about the Mojang deal) so if everyone is inflated then it all washes out. (And if everyone is inflated then there aren't other deals to be found on "uninflated" terms.) Better to reason in terms of percentage of market cap and cash reserves, for the relevant parts of the deal. Whatsapp's acquisition price is about 7.5% of today's FB market cap, not sure what it was at the time of the acquisition (which was about $22B at closing). Uber is a VC deal, I think airbnb was as well... so those are 'real' implied valuations as near as I can tell.
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Dec 11, 2015 01:12
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BEHOLD: MY CAPE posted:Do you have information about Uber's business and financials to make that judgement or does it just seem like a super big number to you? Nope, and I said in my post that there are surely financial justifications based on the current earnings and projected future earnings. If someone asked me to invest my own dime in Uber my first reaction would be concern about how exposed they are to lawsuits. Uber is one big decision about their drivers being employees vs. contractors or one really good taxi and limousine commission lobbying effort away from being in a heap of trouble. To me it sounds too similar to the dot-com bubble for comfort (where projected earnings and valuations of anything.com were out of control). If I was looking at the company as a VC the rules would be different as a previous poster mentioned. EDIT: I would wish running a restaurant on my worst enemies. Grueling work and hiring/retention must be awful. antiga fucked around with this message at 22:41 on Dec 11, 2015 |
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Dec 11, 2015 22:38
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You were paying 400 to live in part of a unit they were renting for 200? Those are crazy numbers.
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Dec 25, 2015 15:12
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Not a Children posted:My first serious relationship ended because my girlfriend kept giving less and less subtle hints about the direness of her mom's financial situation until she was outright asking me to help them make payments on the credit cards. She accused me of being an unfeeling monster when I refused, and went on a social media tirade about what a cheap rear end in a top hat I am. Yeah this is a disaster waiting to happen. Once you are willing to help once, you're helping forever. The underlying issues aren't fixed by cash infusions anyway.
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Dec 25, 2015 19:07
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Krispy Kareem posted:I wonder if car buying is one of those White Privilege things no one ever thinks about. If you're middle class and up, there's a good chance you'll either be given your first car or help purchasing one. A few years later, your next car will be significantly cheaper because you can trade-in your wholly owned first car. My first car was a vehicle that was sold for $299 two years after I started driving it and this isn't exactly uncommon. I think the junkyard got taken on that deal. Most people buying a first car shouldn't buy one that's expensive enough to have an onerous loan payment.
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Dec 30, 2015 16:46
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Devian666 posted:My understanding of 401k loans is that the intention was for providing cheap finance say to help buy a house. Yet I've never heard of a 401k loan being used for this purpose in BFC. I did this, but after very careful research. For example, many 401k plans state that loans become due immediately if your employment ends, which usually leads to the loan being changed to a withdrawal (10% penalty plus large tax bill). In my case it was a change in values I guess, I had put a high percentage of my income into the 401k so it wasn't somewhere accessible for a home. I didn't want to permanently reduce retirement accounts e.g. IRA withdrawal, the 401k loan is a compromise between not forfeiting tax advantaged space and investment returns. My rate is 4.25% paid to the 401k balance. That looks favorable given the past six or so months in sp500 but that is just good fortune. Pet psychic contribution, my dog probably has some very unpleasant things to say about the neighbor's cat and the squirrels in our trees so it's better that she not know words.
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Jan 6, 2016 15:25
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I think the problem is that it's easy to cash out small amounts but that dude had like $350k and getting rid of that at once would be a huge problem.
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Jan 9, 2016 03:46
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Yeah, despite how people say 'I'd be much happier if they gave a hundred people 1M each instead of 100M to one guy' that absolutely doesn't maximize ticket sales. People want the big score and it generates attention.
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Jan 12, 2016 00:23
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To be fair, the effect of even relatively simple things like tax credit phase outs make marginal rates confusing to someone who doesn't pay attention to their tax return. I'm in the lifetime learning credit phase out (part time student) so my marginal rate is effectively 50% on $10k, after that it would be 30%.
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Jan 12, 2016 19:17
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I've always thought that if you took two guys and have them each invest $1000 in an individual stock, the one who immediately loses his bankroll is better off than the one who triples it in the first month. The 'winner' will lose a whole lot more than $1000 when he goes busto.
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Jan 20, 2016 20:09
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KYOON GRIFFEY JR posted:It's all unrealized value so it's basically no different. Not really the point. The people who win at first think they are the second coming of Warren Buffet and typically put much more money on the line just in time to lose big. If you lose on your first hot stock pick hopefully you learn your lesson. Imagine if E-trade guy had $1000 in his margin account instead of $35000 before opening that really bad position. He'd still be hurting but not -$100k.
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Jan 21, 2016 14:58
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E: beaten A short position in a nutshell is borrowing shares (for a fee) and promising to return the shares in the future. His bet was that the shares would be worthless when he had to return them (he profits). Instead, the company got good news instead and the shares skyrocketed (he goes busto). He got into big negatives because he failed to adequately set safeguards (such as automatically exiting the position after some predetermined loss). E trade probably loses big too because that guy is absolutely going to bk if that will get him out of it. antiga fucked around with this message at 15:29 on Jan 22, 2016 |
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Jan 22, 2016 15:26
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ohgodwhat posted:Speaking of which, if say you're planning to get an MBA or something, and you're already making out your other tax advantaged spaces, you can open a 529 for yourself too, right? Does it make sense to do so? Depends on the state. Some states have a state income tax break for 529s so even if there won't be much investment growth it will save you some money.
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Jan 23, 2016 16:42
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Delusional, I love it. Best way to prepare for a revolution of the unfed masses is to be one yourself!
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Jan 25, 2016 21:38
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I wonder how on earth he saved up all that money with so little common sense. Must be an inheritance or something.
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Jan 26, 2016 19:24
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Who could have possibly foreseen that real estate in boom/bust industry towns would be risky :/
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Feb 10, 2016 02:16
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That is cult-level GWM.
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Mar 7, 2016 16:47
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Senf posted:Small but mini update on the BWM truck guy I've mentioned a few times in the past (that people may or may not remember): This is great. Trade in the truck for a 2017 that comes with free taillights.
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Mar 17, 2016 02:31
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