Leon Trotsky 2012 posted:

I don't even understand how you could get nearly 10k underwater on a car loan during that time-frame.

savesthedayrocks posted:

real estate can only go up

https://www.reddit.com/r/PersonalFinanceCanada/comments/69pqsg/does_anyone_have_experience_selling_a_home_im_in/ posted:

I bought a home I can't afford. I'm a first time home buyer.

My mortgage is 790k. I bought the home for 850k and I put 10% down. I get the keys in a few weeks. I plan on putting it on the market right away. I just want my hard earned money back I saved. That's all.

I will not discuss how I feel like I got screwed over or how stupid of a failure I am. I just need options here.

I spent 10k on lawyer/land transfer. I'm now looking forward to pay 23k in CMHC insurance which is part of my mortgage. As well as real estate fees for selling this home. No, I don't have the option to keep the home for x number of months or renting it out.

I have a variable rate of 2.2% and I understand there will be penalty fees.

Any advice on how to go forward and making most of my money back? Yes, I'm young and stupid and I don't want a house anymore in stupid Toronto.

Please help.

BEHOLD: MY CAPE posted:

What does it mean to be "financially responsible but not have the credit for a mortgage", those things seem to come closely hand in hand

quote:

I had been pre approved for a $4,500 credit limit increase, but I was too scared to approve it. I'm literally terrified to use my card at this point. Anyway, ignorant me was like, "Well, if it's good for my credit, I guess I'll do it." Now my credit limit is $10,000 and I feel like I have a huge pit in my stomach. I'm not worried about being tempted to go on a shopping spree; despite my credit card debt, I'm generally quite frugal - I've had this credit card since I was about 20 and basically just lost control at keeping up with paying it off somewhere along the way.

Virtue posted:

I'm really confused. Whats going on here?

Edit: not the jizz, the part about the house

https://www.reddit.com/r/financialindependence/comments/6bacja/100_stocks_without_bear_market_experience/dhl22hi/ posted:

Most of the guys I know at work day trade their TSP accounts. You're only allowed to make 2-3 trades per month to move between stocks and bonds. It's funny to watch them gather around at lunch and try to do technical analysis on the S&P 500 to determine what the best trade of the month will be. One of the guys showed me his annual statement and he only made 2-5% every year for the last 5 years. He would have been better off just sitting in bonds. I'm really curious what they're gonna do during the next drop.

Tiny Brontosaurus posted:

Is there any feasible way to ban MLMs?

https://www.reddit.com/r/PersonalFinanceCanada/comments/6gai2x/first_home_as_an_investment/ posted:

Hello PFC. I have 2 options, buying a place to live in or buying one to rent out for it's benefits a little later down the line (if there are any). Ontario if it matters. Single income.

Option 1 - Buy house to live in, can't afford more than 185k. Therefore, small condo.. nothing fancy. Likely won't want to live there long which could result in me selling without having "got my moneys worth" out of it.

Option 2 - Buy a cheap but reliable place, rent it out and use the benefits from having such an asset/income to buy a bigger, better house in 3 or 4+ years... or less?

Here's my issues. My savings could get me 20% down no problem with some emerg funds to spare. But I max out at 185k because my single income is too low to be approved for more. So... My thoughts are in a couple years, income will have gone up a couple bucks an hour slightly increasing my reliable salary + my income overall would have gone up a bit from the profit off the rental (I understand it may not be much to start given all the things landlords pay for but whatever its more income..). So...if I have this house I'm renting under my belt, can that make me worth more? and/or worthy of more mortgage to buy a home I can live in? Currently I have zero options of increasing my income, I've tried a few things but nothing more than some extra pocket money is all I can get. NOTE: I could have this all wrong as I feel like buying a place to rent out could also be considered a big bad debt the banks see as a negative. Credit right now is considered "good" if it matters.

If anyone bought their first home as an investment, how well or unwell did that work for you? Also, yes being a landlord is a world of it's own, I know. I am prepared for that and have some experience in that arena thanks to my current career. Tips are still welcome!

quote:

Looking to invest in E-sports anyone know any companies or how I would be able to put my money in to the E-sports scene.

Ebola Roulette posted:

https://www.reddit.com/r/personalfinance/comments/6ibz42/graduated_college_parents_350k_in_debt_and_they/

Solice Kirsk posted:

So serious question here. How many people would be interested in doing a sort of BWM themed "Advice" book where we all take a specific chapter (investing, day trading, mortgages, etc) and write just the worst ideas we have about them and try to get it published by a reputable publisher under a pen name?

EAT FASTER!!!!!! posted:

Leon Trotsky has the purest loving BWM smack, man.

quote:

the car had well over 100.000 miles in less than 6 months (work related)

quote:

I'm honestly curious what you do to cause over 100k miles in less than 6 months on a car. That's about 550 miles per day, every day, for 6 months. At 60mph, that's 9 hours of driving, every day, for 6 months.

quote:

To put into perspective we live 4.5 hrs away from work (back and forth every day) and the work was driving related during the work day. On top of that every one day off a week we would travel for see something new ( before things turned sour money wise) driving a lot was our lifestyle for a while. It is possible.

Tiny Brontosaurus posted:

quote:

Parents' divorce decree says my father is supposed to pay for my wedding. Is that enforceable?

ate all the Oreos posted:

There was a Rifftrax short a while ago about spotting scammers (On Guard, Bunco!) that was made in like, the 70's I think, and I greatly enjoyed just how many of the scams depicted were not only still done almost exactly the same today but also were ones my idiot dad fell for.

Zo posted:

yes it means that lovely parents raise lovely children but hey that's how we as a society decided things should be.

John Smith posted:

quote:

First up, Derek. You may recall this blog dog sold his North GTA McMansion at the height of the frenzy prior to Easter, received multiple bids, and picked the highest one – $2.25 million, more than he expected. Days later, with the market starting to turn, the buyers balked. They begged to be let out of the deal, then the mean lawyers were called in. Ultimately Derek relisted (for $2.25), later dropping the price to $1.9.

Meanwhile he sued the purchasers (one of whom is a real estate agent) for breach of contract. The claimed damages amount to $1 million plus costs, and the defendants have until the end of the month to file a statement of defence. But they ‘ve chosen to disappear. No communication. Nada.

Word from their agent is that an offer might possibly, maybe, perhaps be in the works for a max of $1.6. “I’ll take it,” says D, who meanwhile has rented a new place with possession on August 1st – the date the house deal was supposed to close. So all of the costs of his original place – mortgage payments, property taxes, insurance, maintenance from that day on – will be added to the claim.

Comments a lawyer working on similar cases in the area: “This is endemic. We are swamped with actions involving collapsed deals, and the effect seems to be one of dominoes. I’m starting to think the entire move-up market is collapsing as buyers elect to default, or find they cannot finance at the prices they paid. Good for us, though.”

Dwight Eisenhower posted:

BWM is paying $10 to post on a comedy forum and reading a thread about people bad with money that consistently gets distracted by a right-wing troll and a left-wing troll who both give one cause to remind oneself of Poe's Law.

quote:

There was a bit of saber rattling when Competitor started getting complaints about Y2K that culminated in a series of messenger-delivered nasty-grams. Their position was that their outsourced programmers assured them they were compliant and that we should turn off the dialog before they sue us for tortious interference. Our position was that if they didn't want us to complain about the bugs they should have had their outsourced programmers steal a version that didn't have those bugs.

A year later Competitor went under. Between pulling their new product off the market voluntarily and the lawsuit with the foreign company they'd contracted to 'write' firmware, they just ran out of money. We got a great deal on some of their assets before they did though. Thousands of controllers for fifteen-cents on the dollar, tooling to make more for ten cents, etc, as they tried to keep the suit alive long enough to actually see money from it.

curufinor posted:

this is the salutory thing about capitalism, in that the rate of profit decreases, and often by a lot, but it doesn't work salutorily in practice because the accumulated capital doesn't get redistributed after it does its useful work. that latter fact is why the koch brothers can do anything, having inherited billions of daddy's money. same deal with orange man

Droo posted:

This conversation reminds me of an article I saw this morning.

http://www.businessinsider.com/liberals-can-win-if-they-stop-being-so-annoying-2017-7

SquirrelFace posted:

he is a huge trump fan

He's a good guy

curufinor posted:

bwm wh40k

Hoodwinker posted:

Hold the gently caress up. Explain this one.

LLCoolJD posted:

Calm down.

Leon Trotsky 2012 posted:

Also, a title only post.

monster on a stick posted:

You got it right, and she massively screwed it up. She can either pay him a ton of money, or admit that she changed a notarized document after the fact which is fraud. She's pretty much hosed now that she's decided to play games with her ex.

quote:

In this series, I (Jin Choi) talk about my goal of reaching $1 million in my TFSA (Roth IRA equivalent) account by 2033...

At the end of June, I had $46,583 in my TFSA account, which was down by 14.3% during the month. By comparison, the Canadian stock market went down by 0.8% while the U.S. stock market went down by 3.3% in Canadian dollar terms. Therefore, my portfolio underperformed in June.

quote:

Lastly, let me just clarify that my TFSA account does not reflect the nature of my overall investment portfolio. To give you an idea, I hold more than 10% of my assets in cash. I also own some corporate bonds as well as stocks in a diverse set of industries. I’m actually trying to think of ways to derisk my overall portfolio further. My TFSA portfolio will continue to hold risky stocks, but I may increase my allocation towards cash, bonds and gold related stocks in the months ahead.

quote:

I’m coming to realize that my approach to valuing oil and gas companies may have been wrong

ranbo das posted:

I mean there's a certain logic to "have weapons that are scary enough that you don't need to win the war because no one wants to fight you".

But lol if you think that applies to the F35

Outrageous Waste—America’s Secret Strategy for Military Deterrence posted:

What if American military strategy involves deliberately overspending for the sole purpose of placing weapons out of reach of the rest of the world?

What if we spend decades and billions on cancelled and troubled projects, creating the appearance of difficulty and incompetence, in order to deceive our enemies and dissuade them from building advanced jets, tanks and ships?

Making the unaffordable status quo appear inevitable creates a strong disincentive to hostile actors, so there is a genuine national benefit to convincing the world advanced weapon systems cannot be built in less than 25 years, even if we could actually do it in 18 months.

ate all the Oreos posted:

Okay, you want to ride horses, sure whatever, you want to get lessons on how to ride horses, fine go wild, you want to buy a horse, i wouldn't recommend it but at least i understand the sentiment

...But why would you need the second horse

hailthefish posted:

22 Eargesplitten posted:

Yesterday I was unemployed, now I work at McDonalds for $9/hr. Therefore tomorrow I will make infinity dollars.

monster on a stick posted:

Maybe we can expand the thread to making fun of people who can't read

ate all the Oreos posted:

Clearly you don't live in the south, where "big truck" wins the rock paper scissors dick measuring game against "cool sportscar"

Enfys posted:

Living paycheck to paycheck is a way of life for majority of US workers

republicant posted:

There's a class action lawsuit against the people responsible for a ton of "free cruise" robocalls, and if your phone number is listed in the call records you can be eligible to receive $300 per call up to 3 calls.

https://www.rmgtcpasettlement.com/Home.aspx

(Website has been swamped all day today but seems to be working now.)

quote:

Burger King Russia plans to release iOS and Android apps in the next month that will allow customers to sell their WhopperCoins and send them to friends.

Ivan Shestov, head of external communications at Burger King Russia, said in a statement: "Eating Whoppers now is a strategy for financial prosperity tomorrow."

Shestov added: "Now Whopper is not only [a] burger that people in 90 different countries love — it's an investment tool as well. According to the forecasts, cryptocurrency will increase exponentially in value."

Subjunctive posted:

TB and I obviously aren't the best of friends, but misgendering and de-personing her is some bullshit. You can give your mod guidance in a way that's not demeaning.