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Weatherman posted:I'm not American and unfamiliar with the interplay between the three sources of money you mentioned. Could you dumb it down a touch for me? (I'm not seeing how student loans come into it.) Your student loans are sometimes not paid directly to the college, they are dispersed to you as check. This amount of money is supposed to be budgeted by you, including tuition and living expenses. This particular woman failed to pay her tuition, instead using this money like it was not a loan, and her parents ended up paying her tuition anyway. Unfortunately now she has debt for money she spent and did not realized was loaned.
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Oct 1, 2016 23:40
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That dude is about to enter a world of financial hurt. The main effect of BWM for me is to make me feel marginally better about my dire financial straits, so thanks for this.
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Oct 3, 2016 15:16
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cowofwar posted:I love people that throw out their expected income in x many years as if it has any meaning. Well sure i owe $300k and blow $50k a year on top of that but I'm in med school and in seven years I'll be making $70k as a resident! Flippin tell me about it. BWM EAT FASTER!!!!!! edition
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Oct 3, 2016 23:19
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Every time I hear someone from outside medicine talk about how bad a job prospect something in medicine is or is not, I make the slowest, most excruciating hand jerk-off motion as I roll my eyes around and around and around and around.
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Oct 4, 2016 02:19
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Krispy Kareem posted:Fine, Rad techs. Oh my God your reading comprehension, do you even move your eyes across the words before you post? Radiology techs are the people who position patients to receive x-rays or cancer treatments or what have you - there is literally no software that can do what they do. The "study" that you read and think you understood describes how software can assist RADIOLOGISTS (physicians, with medical degrees, who read x-rays or CTs or whatever) to see cancer they would have missed otherwise.
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Oct 4, 2016 02:55
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This makes me so mad, and I really, really want to cancel off all of our Wells Fargo products except that they hold my only two credit cards, which is going to sink my goddamn credit for age if I did that. They're already pretty young cards, given that I used to just cancel cards I had paid off and was scared of creating debt with. I wish there was some recourse. I've already moved most of our banking to the local credit union, but I would like to sever completely.
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Oct 5, 2016 15:49
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Bhodi posted:Are you planning on buying a house in the next few years? If not, your credit score for new versus old credit cards should not be as much of an issue as you seem to think it is. I'm planning on refinancing our mortgage versus buying a house in 4.5 years exactly. Will it impact me then?
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Oct 5, 2016 16:18
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Fascinating, thanks for the insight guys.
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Oct 5, 2016 18:09
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Hot Dog Day #91 posted:I will never understand why people with 100k+ in federal student loans are not working for the government. Assuming public service loan forgiveness doesn't go away (gently caress please no) that's a ten year income based repayment, which results in sweet sweet tax free forgiveness. Yeah, the places it makes the most sense are the longest slogs through training (my wife had 6, I only had 4) and the difference ends up being you paying 4 or 6 years of payments on the 10 year payment plan (a sizeable number of high payments) then they forgive the rest. Pretty much the way to make it work is to stay poor for 8 years of training, make IBR payments the whole time and then take an academic job for two years while you get 80% of your loans forgiven. Money is bad in academic medicine, but if you're in a lucrative specialty it's not super bad.
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Oct 6, 2016 21:14
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BEHOLD: MY CAPE posted:It totally depends upon what you do, where you do it, and who you are, and the typical pay difference between academic medicine, health system employment, and private practice is one of several variables to keep in mind when looking for a job in medicine. Most people aren't money making robots and the accompanying differences in lifestyle and workplace setting have a lot of value as well. A lot of doctors are going to wipe out six figures or more in loans starting in 2017 and that's probably going to get PSLF changed in big ways. Hopefully not retroactively, as that specific "gently caress you" would be a bitter pill to taste.
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Oct 6, 2016 21:51
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Horses, unless you're doing it professionally, are pretty capital A-1 BWM.
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Oct 8, 2016 17:01
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My BIL is trying to get me to buy a boat, which is GWM on his part but it's a little offensive to assume being BWM on my part. I did the amortization of just the purchase price of a used pontoon: I can rent this same boat for 4 hours for $250 at the Marina closest to our house. I'd have to use it 4 times a year for twelve years just to cover the purchase price, and I'm pretty sure it's a Ferrari situation where you can't afford to own and maintain one until you can afford to buy two. Not going to do it.
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Oct 10, 2016 15:52
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Bahaha, that's pretty top level dumb. He thought he could buy something for a price $X that would then produce $X every single month? Does he have the first idea how the stock market works? (Clearly no).
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Oct 10, 2016 20:09
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This does not seem like a very good ownership structure.
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Oct 17, 2016 17:59
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Solice Kirsk posted:Didn't the sov citizens that took over that national park greeting center do this? That group has a name. It's "Y'all Qaeda"
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Oct 17, 2016 20:38
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High earner, bad with money is incredibly painful. To share a little bit of my BWM background, my wife and I are both physicians newly in attending jobs and are set to make a boatload of money this year for the first time. Having slaved away for so long, the first thing I did - even before I paid a cent down on our $30,000 of credit card debt - was go out and buy an $80,000 car. Why? Because I'd arrived and wanted to show it and that car was safe and a bunch of other doctors I know drive similar cars and with our cash flow, it would never be a problem to make a payment (never mind the fact that we have something like $750,000 of debt between our student loans, mortgage, credit cards and the car). My MIL spends $1000 on groceries for two people every month. Not total on food, but on groceries alone. When I tell her I want to shop at Aldi to save some money so we can pay down our debt I get treated like I'm abusing my child and her daughter because "it's not all natural, it's not organic." My BIL has been trying to convince me to buy a boat since before we moved back. People see our salaries and are totally oblivious to the unbelievable debt that lurks below the surface of this kind of compensation. I read "The Millionaire Next Door" and although there are things I disagree with in the book overall, you can't dispute that some of the high earners are some of the worst with money.
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Oct 18, 2016 17:24
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Residency Evil posted:Sup BWM medicine buddies. Good!
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Oct 20, 2016 03:47
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brainwrinkle posted:Mini horses are BWM. You can get more horse for your buck with a Clydesdale. Nah mini horses are like mini houses, super GWM. All the benefits of a horse, 1/5 of the cost.
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Oct 20, 2016 03:50
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brainwrinkle posted:I would think the fixed costs like stabling and veterinary bills don't scale with horse size. It's like any other animal - costs scale with weight! It's why it's so much cheaper to own a chihuahua than it is a newfie. Also this prompted me to see how expensive it would be to get a pot-bellied pig haha.
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Oct 20, 2016 03:56
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NancyPants posted:You know what, gently caress all those people. Don't know where to start, don't care to figure it out. Hahaha, I got more and more unreasonably angry the more I read.
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Nov 4, 2016 05:57
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Why Hertz? Also your image is broken.
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Nov 8, 2016 04:38
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ate all the Oreos posted:My hot tip for not emotionally loving with my accounts: i forgot the password a while ago and it's too much of a pain in the rear end to reset it this is a very good tip! also does anyone who's better with money (also abbreviated BWM, Confusing!) than I am have a crystal ball about what home mortgage rates are likely to be for the next 5 years to refi my 5/1? Thanks in advance.
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Nov 9, 2016 20:35
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We're talking about Everest today in business school. Everest is Bad With Money.
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Nov 11, 2016 20:52
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Does my mortgage count as saving? Also pre-tax and post-tax retirement deposits, do they count as themselves or 1.6 times themselves?
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Nov 14, 2016 17:41
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Bhodi posted:Your mortgage doesn't count as saving but if you stay in the house (or sell it) you can calculate that income separately / live on less money. The calc isn't that complex and doesn't take any of that into account, it's just a rough chart to demonstrate how much investments can snowball and how little you need if you manage your expenses tightly - if you live on 30k and make 60k/year, you can retire substantially before the "industry standard" working until SS kicks in. The numbers are delicious, yes, but any time I see a chart like that I try to min-max the poo poo out of it. Also :Trump: the problem is taxes because while we make an obscene amount of money, save an obscene amount of money for retirement, we pay even more than that for taxes.
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Nov 14, 2016 17:49
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You savings superstars are welcome to use Zillow to go look for what a Central Park-facing condominium sells for, but I'm going to give you a hint, the park view is on its own "worth" probably a 50% per square foot premium. And don't pull in one of these little studios looking at another building despite a CPW or 5th Ave. address, those don't count.
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Nov 15, 2016 14:19
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Everyone everywhere is BWM, it just depends on how you're going to spend it. Like RVs to tailgate college football games. That seems pretty BWM.
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Nov 18, 2016 16:33
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pig slut lisa posted:Was discussing holiday gift giving with a friend who grew up in a household that struggled with money and he shared this story: Yeah but I bet he's GWM now.
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Nov 23, 2016 18:49
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Wow that's amazing. Like why is it so bothersome to you that someone else parks in front of your house?!
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Nov 30, 2016 19:59
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FormatAmerica posted:I'm sort of interested in this bank, hot drat sounds like a good deal. Sounds like a good... delicious... cheesy... hot deal... Maybe I am just hungry.
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Dec 1, 2016 00:04
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Ornamented Death posted:Just to offer another side to this, before we got married, my wife lived in a townhouse. She had two parking spots assigned to her, so if a neighbor parked in one of her spots, people visiting her would have nowhere to park. Eventually she got annoyed enough with it to just park diagonal across both of her spots, only moving if she knew someone was coming over. It's obviously dramatically different when the parking is assigned to you! But curb street parking unassigned seems kind of stupid to get worked up about. I realize it annoyed me when I was, like, 8 years old (or when someone was dumb enough to actually park up ON our lawn) but jeez.
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Dec 1, 2016 16:52
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I have to tell you, without a couple key hesitations, I could have happily stumbled right alongside the guy you describe above.
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Dec 3, 2016 20:04
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It takes all kinds, but I'm not sure either individual is really bad with money. Kinky, maybe, but probably not bad with money.
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Dec 5, 2016 17:32
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Dogfish posted:Also, if you don't want to armchair psychologize you should probably take phrases like "daddy issues," which are useful ONLY for armchair psychology, out of your vocabulary. I am not trying to reinforce really deeply ingrained cultural gender stereotypes by suggesting that these peoples' lives or intimacy is wrong or bad by using the word "kinky" and I hope it didn't prompt any resentment on your part; I just mean that it clearly seems to be creating some unresolved psychosexual tension in the relationship in question. I also suggest taking every opportunity to rub in in a mans' face when they ask about your husband "babysitting" to correct them that, no, he will be PARENTING and it's a shame their children don't have such good fortune to be parented by two adults who understand the potential pitfalls of making assumptions about gender.
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Dec 5, 2016 18:04
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WampaLord posted:Like if you make 250k a year and have an AmEx black card with no limit, sure, toss $4500 on there and figure it out later. But this dude clearly isn't close to that level. A black card requires 250k a year in spending and assets in excess of several million dollars. edit: the annual fee is also $10,000, making it pretty catastrophically bad with money except when you have so much money that you literally don't care about being good or bad with money. EAT FASTER!!!!!! fucked around with this message at 18:50 on Dec 5, 2016 |
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Dec 5, 2016 18:40
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My wife and I have a total of like 2/3 a million. Fortunately we're on course to get some sweet, sweet PSLF and we're in a double physician household.
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Dec 6, 2016 20:49
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I have a friend that budgets several hundred dollars a month for FTP gaming. edit: I should add she is otherwise pretty GWM
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Dec 9, 2016 15:42
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SweetSassyMolassy posted:https://www.bogleheads.org/forum/viewtopic.php?f=2&t=205068 This one hit me pretty hard, yikes.
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Dec 12, 2016 01:35
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I need to make out a will one of these days. Should I wait until we've got a positive net worth?
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Dec 13, 2016 20:41
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Blinkman987 posted:Old people do vote so this point can never be brought up in a national debate. Really, though, people should probably accept death and try for better quality of life than longevity. gently caress me if I end up clinging to life at 80. Somebody post the derail bird but the problem with picking an arbitrary number like this is that it betrays the beauty and complexity of life at all ages. Sure if you're a deconditioned, bed-bound 75 year old you probably don't need a knee replacement... unless your bum knee is what's keeping you from enjoying your glory days, as is often the case in folks as old as 90. I've done knee replacements on 90 year olds who went on to have 5 or 6 John Glenn had one at this age, for instance although I obviously didn't do his surgery good years that they wouldn't have been able to enjoy without that intervention, and to make a sweeping generalization about what we should and shouldn't pay for based on a number that's as variable as life expectancy seems riddled with problems. That said, maybe if you want to get your knee replaced at 90 you should have to contribute more toward the cost of your care but then again, you've paid a lot for that policy in your life so it's a little problematic.
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Dec 13, 2016 22:21
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