Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Krispy Kareem posted:

Back to those cute Disney stars, the amount of money they made is mind blowing and makes even top tier YouTube talent look pitiful. Miley Cyrus made around 300 million when you add in merchandising and endorsements and even the Suite Life twins earned something like 100 million. Pete and Pete from Nickelodeon probably made scale.

Do they at least take some of that money when you withdraw or are you on the hook for everything the following year? Because she's in for a lot of pain if she withdrew 20k and spent all 20k.

I cashed out my first 401k (yeah yeah, I know) - but I was young, the amount was relatively small, and I don't recall a bad tax hit the following year.

It's a 10% penalty on top of being taxed as income

# ¿ May 4, 2017 21:42

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# ¿ May 4, 2024 15:25

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

http://www.huffingtonpost.com/regan-long/the-brutal-truth-about-those-pyramid-schemes_b_10602586.html

quote:

Whether it be Facebook, Instagram, Pinterest, Twitter, YouTube, or LinkedIn ... we have been seeing a tremendous shift in peoples� posts, a large percentage of them being women and/or mothers.

As you scroll through your news feeds, you may find photos and posts with similar catch phrases of �join me� or �are you ready to try ______ � or you may possibly read �looking for ___ for my next group/party I�m hosting�.

Why is there such a rise in these start up businesses? Why are we seeing a trend of these posts being blasted through all types of social media? Why does it appear that everyone is being fooled to hop on someone else�s bandwagon of what appears that they�re showcasing, well... the grass is greener on the other side?

Well here�s the short and simple truth that I have found not only from research and personal experience, but simply living it: this actually works. These so called �schemes� are actually creating opportunities for millions to begin their own businesses from home.

We�re living in an economy that it takes two incomes to make ends meet. We�re living in a country that is battling to have paid family leave available for all of its families. We�re living in a time that people are becoming sick and tired of being sick and tired.

Sick and tired of living paycheck to paycheck - or maybe not even able to stay above afloat some months.

Sick and tired of working long, tireless hours away from home, but there�s no choice. You must do what is necessary to pay the bills and put food on the table.

Sick and tired of paying the astronomical costs for someone else to raise your children, while you�re answering to someone else.

A lot of these posts you�re seeing of these small businesses being advertised are mothers. And this should really come by no surprise to anyone.

Mothers have met their breaking points head on and are taking leaps of faith to become Entrepreneurs, becoming their own boss of something that is giving them some freedoms.

And you know what - it�s WORKING.

There are no pyramid schemes, despite so many wanting to tag them as such, because you see - pyramid schemes are illegal. A lot of these businesses are multi level marketing which is what people are misinformed about. The MLM set up is why they are working with such success. They are set up in such a way to help the small business owner have a huge potential for financial success.

Think of your traditional brick and mortar business where people aren�t �afraid� of a scheme. Is there a manager that helps assist people at their job? Does that person have a boss? And does that boss have an overseeing boss or manager? And so on, and so forth?

Yes. Yes. Yes. And absolutely YES.

Now do those managers, bosses and CEO�s depend upon their staff to do their jobs diligently in order for their business and companies to be successful?

Yup.

Now anyone who is a motivated individual, would they want to move up in their company? Would they like more pay and higher success?

I would hope that every single working individual would answer yes to this.

Likewise, if these people like their job, do they talk about it? If you personally go to a restaurant you like, do you tell your friends about it? If you find a store whose clothing you have fallen in love with, do you share it? What about a new recipe you just tried that your family enjoyed...you probably have shared this with your co-workers and friends, no?

If this is the case, then every single one of us are involved in some type of pyramid scheme. God help us all.

Something to keep in your back pocket: when you�re buying from a chain store, you�re helping contribute to the retirement of the millionaire or billionaire CEO. When you�re buying from a small business owner, you�re helping pay for that family�s groceries, you�re paying toward the electric bill and helping Tommy afford a baseball glove or helping pay down Sarah�s outstanding hospital bill. You�re helping pay down school loan debt and you�re likewise contributing to someone�s ability to have more time with their children, their significant other or parents who may have fallen ill.

And these small businesses - well, there�s nothing small about them with the amount of effort and time that these Entrepreneurs are putting into them. Yes, it�s more than a few posts on social media. Yes, it�s more than setting up a couple groups or sending out some invitations to their next party or group. Yes, it�s even more than posting those witty, inspirational sayings or selfies you see each day.

It�s staying up late and getting up early to plan and strategize what you need to do to grow your business and share your product. It�s finding new and authentic ways to use social media to set yourself apart from the thousands of others who are trying to set the same competitive edge in their same business. It�s constantly learning the most recent updates in your business, adding to your contacts to ensure you are on the path to growing a thriving company, and working on your own personal development of bettering yourself as a business owner.

So the next time you�re scrolling through and considering the legitimacy of these posts that appear too good to be true, you may want to think twice. There is no comparison to the hustle and work ethic of a mother trying to provide for her family. If it happens to be something that piques your interest in something you�re already paying for from a chain or retail store, you just may want to give that small business owner a chance to prove you wrong.

My hope is that you are incredibly thrown by your surprise of the legitimacy and the 1:1 care and attention you can receive from having an open mind and heart. I assure you, that dollar is going to go much further than you could possibly imagine.

To follow Long, retired teacher at 31, you can find her on The Real Deal of Parenting

"Help your friends with their MLMs because all employment is demanding when you think about it"

# ¿ May 7, 2017 04:09

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

The irony is that she's unemployed

# ¿ May 8, 2017 18:59

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

monster on a stick posted:

Speaking of which:

"What happens if you need the windshield on your BMW washed and I'm the homeless guy on the corner with a squeege... hmmmmmmmmmm? "

Hmmmmmmm

Sure am jealous of this college dropout

In all seriousness, sounds like something between a manic episode and a coke-written manifesto

# ¿ May 24, 2017 00:30

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Eldred posted:

You think? Not being able to find any career-relevant work going into his junior year is a pretty big red flag that he's not as appealing a candidate as he thinks. (Pretty sure it's a he? Phone-posting)

Like yeah average outcomes are better in engineering but I'm not sold that it's any guarantee of well-paying work

I like making GBS threads on lazy kids as much as the next guy, but this is literally untrue. A lot of people in my state school BSEE program didn't do anything career-relevant between soph and junior years and turned out just peachy.

It's not foolproof, but I know that at least in 2012 even my friends with GPAs in the low 2s were coming out with 50k+ offers.

# ¿ Jun 16, 2017 03:56

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Haifisch posted:

I'm not that old, geez.

Content:

Haven't paid for electricity for 10 months and nothing has happened

If only there was some sort of rent contract they could read, so they could have known from the start whether they were supposed to pay electric or not.

I mean, to be fair, the LL told them to make an account.

# ¿ Jun 24, 2017 05:17

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Leon Trotsky 2012 posted:

This dude put 116k - his ENTIRE Roth IRA Balance - into RiteAid stock in advance of their merger with Walgreens.

Walgreens announced today that they are not going through with the Merger and RiteAid stock is down about 30%.

how to lose $25k in a day

# ¿ Jun 29, 2017 20:52

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

mojo1701a posted:

I remember similar rumours regarding Israel with their birthright tours.

It's 100% true

But then again, you put any mass of 18-22 year olds together and they're bound to bump uglies

# ¿ Jul 21, 2017 17:24

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

http://money.cnn.com/2017/08/02/pf/early-retirement/index.html

If you graduate from Harvard debt-free and work in finance while living in the smallest available walk-up in NYC for 7 years, you, too, can retire before 30!

# ¿ Aug 3, 2017 04:17

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Leon Trotsky 2012 posted:

One of my coworkers (who makes about $28k a year) was talking about how they get a new 2.5k gaming PC every year to stay up to date.

He gets it at Best Buy because they approved him for a Best Buy credit card and with a Best Buy credit card "you only have to pay interest at the end."

The Best Buy credit card, like almost every store card, retroactively charges 28% APR for the entire 0% interest period after the intro rate it over.

He's been paying 28% APR on 12 months of 2.5k every time.

He has done this for 3 years in a row and just figured this out when we told him to stop.

He spends over 10% of his gross on a computer every year. It's almost impressive

Odds on being able to build a similarly specced desktop for 4 figures less?

# ¿ Aug 3, 2017 18:25

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Weatherman posted:

Seriously this. Or at least jail time in regular old prison, not white collar prison.

There are no consequences for failure for either the banks (as a corporate entity) or the people who run them. Oh I made $4 million a year as CEO for the last five years and I get a $40 million severance if I leave for any reason up to and exceeding "ran the place into the loving ground"? Boo hoo hoo, whatever will I do with the rest of my life and my golden yachts.

Put some actualy consequences into white-collar crime and we might start making progress as a society again. They gently caress people up over minor drug possession or "stole a hundred dollars from a store", but leech a million times that from society as a whole and you get on the Who's Who list.

It will never happen. Systems of wealth exist to preserve the wealth and the people that have it.

The only way to go to jail if you're rich is to kill or steal from another rich person.

# ¿ Aug 7, 2017 13:35

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Leon Trotsky 2012 posted:

My Uncle, who bought the 10k air purification system for his house to protect from chemtrails, and my cousin, who got arrested for trafficking pot in Vermont - after it was legalized - and went bankrupt by investing in a food truck that sold vegan salads, know a ton of hippy people who are an entertaining kind of BWM.

I also have an office next to the HR office at work, which means even if only 2% of our employees have terrible BWM issues I still hear hundreds of them.

And my hometown is very rural and poor, so everyone is either BWM from poverty or got moderately successful and became insanely BWM with their new means.

I have two friends from High School who have become professional indentured servants.

One of them moved to Celebration, Florida and has paid Disney World to work for them for three years. She is still a "performing intern" because she loves Disney so much and wants to keep working there until they have a full-time opening. She is 30.

Another one lives in New York and works for Apple. He gets paid, but it is around $800 a month. So, he's at a net loss of about $1,100 a month at his job.

He is an Apple Brand Ambassador and goes to coffee shops, college campuses, and sits in public with Apple products. He casually strikes up conversations with random people and has them try his devices. He does not identify himself as a representative from Apple unless he is at some kind of college event.

You'd think that Apple could afford to pay its astroturfers more

# ¿ Aug 10, 2017 16:21

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

EugeneJ posted:

I tried to talk to someone once about budgeting, and we concluded that he was spending $500/month on weed

He had no transportation and wanted to buy a car from a friend for $500

My advice to him: "quit weed for a month and you get a car!"

The next week I asked if he quit - "no, but I started selling weed!"

It's a hopeless cycle

How often does he smoke that he can go through $500 of weed

I don't think I could smoke that much if you paid me $500 to do it

# ¿ Aug 13, 2017 17:37

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

The Slack Lagoon posted:

Just heard a commercial on Pandora for tuition insurance in case your kid sucks at college. Probably BWM since why would you pay for your kid to go to college if they're not going to stick with it?

Wait, tuition insurance is actually a thing? What the hell?

# ¿ Aug 28, 2017 21:10

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

What's the best way to talk my dumbass friend out of getting involved with crypto? Everything I say is met with "well, if it keeps shooting up, you'll regret not investing!"

Mini BWM story -- my friend spent her first paycheck for her new job entirely on eating out over the course of 2 weeks, saying she "just wanted to know what it was like to live the high life"

# ¿ Aug 30, 2017 12:59

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Need to get the mods to chomp down on these bit jokes

# ¿ Sep 6, 2017 23:07

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

If they really felt bad about the wealth they'd give it away. Instead they just feel bad about being judged for not sharing, which I guess is resolved by hiding how much you're not sharing

Mini-BWM: I accidentally left my extra bread in the pantry instead of putting it in the freezer, and I had to throw it out because of mold

# ¿ Sep 20, 2017 20:50

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Whole Foods, Trader Joes, any gourmet food store. Hell, even some of the organic supermarket brands can edge that high

I once saw an $11 baguette

# ¿ Sep 20, 2017 21:05

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Crypto is awful because the currency literally consumes vast amounts of energy to continue existing

It is objectively bad for society

# ¿ Sep 21, 2017 18:24

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Fuzzy Mammal posted:

Uhh doesn't the seller have 900k?

If I'm reading it right, no. The seller makes the loan independent of the bank, and is owed after the initial mortgage. Meaning, essentially, that this is a financial instrument for a person somewhat desperate to sell their property.

e: I guess you might get some interest out of it? But an individual seller doesn't have the same economy of scale as a bank does, so that 4% is likely overwhelmingly not worth the risk of default

Not a Children fucked around with this message at 05:07 on Sep 28, 2017

# ¿ Sep 28, 2017 05:04

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

BEHOLD: MY CAPE posted:

Probably the number one cost component of all those drinks is liquor sin taxes and the implied expense of owning a liquor license. Why Americans generally put up with having the piss taxed out of alcohol and just shrug our shoulders and say well I guess a cocktail costs $13, is really beyond me.

It's our only escape

# ¿ Oct 9, 2017 17:07

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

So uh what�s the plan for handling a bunch of broke myopic seniors?

# ¿ Oct 26, 2017 03:56

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Steampunk Hitler posted:

Probably one of the worst parts of making decent money is how it warps your sense of proportion and effectively makes you feel like you're not making (or worth) as much as you really are. It is *really* easy to fall into the HENRY trap without meaning to, because most everyone takes for granted the things they're easily able to purchase and looks at the next "tier" of people and pines for how easy it must be for them.

See: Silicon valley millionaires complaining about the silicon valley billionaires running roughshod over them

# ¿ Nov 2, 2017 17:02

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Ashcans posted:

How the hell did they get through the home-buying process without that coming up? I mean I get that you can be an idiot and not check your own finances prior to getting knee-deep into it, but at some point in there don't you have to have a list of assets/debts with your bank for the mortgage? Did the broker just give them way less on approval and never mention it, and they didn't ask?

People lie/omit to get bigger/better mortgages all the time, and banks are often complicit because they stand to profit and have an outsized amount of experience in exercising the all-important plausible deniability.

Plus, while their situation is pretty dire, it's not insurmountable.

# ¿ Nov 7, 2017 16:17

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Haifisch posted:

[US] Changing jobs and want to finally handle my messed up finances

Made it to the offending paragraph before reflexively yelling "NO!" and freaking out two of my nearby coworkers

# ¿ Nov 9, 2017 19:56

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

DJCobol posted:

Insert sad trombone music here.

It's very telling how people blame taxes for their woes

A tax cut should be a bonus, not the linchpin to your financial stability

# ¿ Nov 10, 2017 17:47

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

therobit posted:

All I know is that the whole area around Medford, OR is full of relativly together young women who will put up with all manner of bullshit from a loser rather than be alone. I always had to deal with calling them up and letting them know thier boyfriend had overdrafted them again. With charges from the strip club.

I hereby title this post "don't date musicians"

# ¿ Nov 13, 2017 05:40

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

OctaviusBeaver posted:

https://www.reddit.com/r/personalfinance/comments/7dede3/mother_wants_to_make_stupid_decision_on_a/

Best thing to do here is make up a counter-dream

# ¿ Nov 16, 2017 22:53

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

I think at this point no amount of explaining would get it through to them, because it would be utterly humiliating to tally up how much money they wasted trying to squirrel their earnings away from the government.

Also, the biggest difference between the brackets at any substantial level of earnings is 5% (unless they're trying to get below $38k from the 25% to 15% brackets, in which case I'd find it hard to believe they could afford thousands a month in charitable expenses). I wonder what % of their take-home goes toward those deductions...

# ¿ Nov 27, 2017 16:40

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Phanatic posted:

Right up until here. They didn�t say �we�re going to stop printing paper dollars, the coins were just in addition to the notes. But nobody�s going to use the coins when the bills are still around. Also, it would cause difficulties for strip clubs.

The penny and the nickel both cost more to mint than they�re worth. If there wasn�t a law against melting them down, you could melt them, sell the resulting metal, and use the money to buy more coins.

The US is bad with currency.

How would anyone know if you melted them down

# ¿ Nov 27, 2017 23:59

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Let's see, we can either invest in plugging up this hole, or we can build a municipal system around the leak

Yeah that second one sounds good

# ¿ Dec 1, 2017 15:16

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Subjunctive posted:

Is disability fraud really a thing? Up here there was a whole kerfuffle about health plan fraud, but the numbers showed that the enforcement apparatus was costing much more than the (trivial) amount of fraud that actually happened.

This is a MASSIVE thing

The social security administration has a huge fraud investigation arm that is perpetually understaffed/underfunded. Fraud is often huge within particular communities or neighborhoods because friends share tips on how best to bilk the system.

# ¿ Dec 4, 2017 21:59

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Audax posted:

One aspect of starving the beast is that those enforcers that make sure the program is doing its job are understaffed and overworked, which causes politicians to cry that it's not working let's cut their funding repeat ad nauseum.

100% what I was getting at. It's the same reason they starve the IRS. I was told by someone working at SSA (so, granted, a biased source) that they bring in about $50 of otherwise wasted revenue for every dollar they invest in investigating fraud. With a return like that it would seem like throwing money at protecting your program is a no-brainer, but, welp

# ¿ Dec 4, 2017 22:14

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Krispy Wafer posted:

I get the impression the whole of SSA fraud prevention is rejecting you the first time you apply regardless of need and assuming only people who are really serious about needing help would bother appealing.

It is true that there are mechanisms in place to reject claims that could even possibly be spurious. This is more than to make it a hassle; to prosecute fraud, you need to show intent to deceive, and that means A) catching people giving inconsistent information and B) catching them lying intentionally, that is, not allowing them room to say something like �oh jeez I was helping my actually-disabled cousin file and I instinctively put in my own name, address, and SSN oh however could that happen HOW EMBARRASSING sorry.�

SSA also works with the FBI and sometimes local law enforcement to root out organized SS fraud in particular.

# ¿ Dec 5, 2017 13:34

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Dwight Eisenhower posted:

I'm honestly curious and would love if posters outside the US could chime in:

Most everyone in the US has one or more social connections to MLM rubes, which means that it's pretty pervasive in our society. Are you likewise afflicted, or do people outside the US generally have a better sense of dividing social and economic activity?

From what I've heard, after the US market got saturated Avon and Amway and the like set their eyes on Asia, particularly, China, where they've been extremely prolific

# ¿ Dec 21, 2017 15:21

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Bad with Money, or How I Quit Worrying and Learned to Love Cat Food

# ¿ Dec 28, 2017 21:12

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Sic Semper Goon posted:

The only cure is a halfway one, that being time, in which fads die out.

The reason why it's a halfway cure is that it will be replaced with equally fraudulent and annoying pseudo-diseases.

It struck me as I was driving home today, people actually want to have diseases as a fashion statement / because everyone else was doing it / because they do.

Some people mistake sympathy and/or holier-than-thou posturing for positive attention because they've never made a real connection in their life before

# ¿ Jan 4, 2018 07:51

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

NancyPants posted:

I had to go through two captchas to get this word salad

e: I like this one

Holy poo poo, this is some textbook material right here

# ¿ Jan 17, 2018 20:36

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

KYOON GRIFFEY JR posted:

why are people so god drat ~~stupid~~ greedy and envious

# ¿ Jan 17, 2018 21:12

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# ¿ May 4, 2024 15:25

Not a Children: Oct 9, 2012; Don't need a holster if you never stop shooting.

Twerk from Home posted:

How, though? In a state that doesn't do alimony they can't really reach into nebulous future income.

"Intent to defraud" tie-in maybe?

I am not even close to a lawyer so take that with a few tons of salt

# ¿ Feb 2, 2018 19:01

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

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