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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John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

NancyPants posted:

I hope she does.

Who knows though. Maybe she'll have the last laugh when the pension is raided in 15 years and her $8k is far more than anyone else gets from it.

Even assuming a 50% haircut, she just took a 80% loss on the present discounted value.

# ¿ May 3, 2017 12:56

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# ¿ May 8, 2024 07:27

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

ohgodwhat posted:

Actually it's $98k discounted at the 30 year treasury rate. Not sure how you got anywhere close to $30k.

CPI inflation may be a better measure than treasury rate.

Plus, need to price for a haircut.

# ¿ May 3, 2017 13:38

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

RC and Moon Pie posted:

The worst was when he called up his sister to beg for $40. So he could buy a replica athletic jersey. He didn't have $40 to his name at that time, but had to get that jersey. He also wouldn't deposit his paychecks in a financial institution, but rather exchange them for a Walmart MoneyCard.

Problem with many people is an inability to say no. I mean, even if you aren't a jerk who is willing to be very blunt and rude about it, you can still say a simple polite no.

# ¿ May 10, 2017 04:40

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Ornamented Death posted:

However, when it's pointed out where she's wrong (it's not illegal to ask somewhere where they live as part of the interview process), she flips out and doubles down on everything. If she was so certain that the guy asking her that question was doing so to discriminate against her, she could have at least sought advice from any number of non-profits that exist to serve as watchdogs for such discrimination. Instead she threw up her hands and said "welp I'm too poor to fight this!"

Her absolute belief of having been a life-long career victim cannot allow for backing down. I have been (incorrectly) accused of thinking that the individual ('s poor choices) is responsible to an absolute and complete extent. She apparently does believes that of society. Nothing is ever her fault.

Droo posted:

This might be a crazy theory, but maybe there are reasons outside of your race and gender that come across in a job interview that make people reluctant to hire you.

I think she may have "Gender Studies" tattooed across her forehead.

(USER WAS PUT ON PROBATION FOR THIS POST)

# ¿ May 10, 2017 18:29

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

LLCoolJD posted:

Yes.

Also: http://www.cnn.com/2009/SHOWBIZ/11/17/nicolas.cage.lawsuit/

Hey, hey. What is with all the selection bias for celebrities who are BWM? Let's have some uplifting stories that reflect how wonderful with money many of them are! I will start first.

Hmm...... Er...... Ah......

# ¿ May 11, 2017 18:33

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Zero One posted:

Bad With Houseboats

https://www.reddit.com/r/legaladvice/comments/6c9fl4/houseboat_marina_took_entire_3000_damage_deposit/

OP hasn't posted said pictures but I can only imagine since he admitted that their mop job was "moving the wet dirt around" and that they quit cleaning because their tools were not good enough that the boat was actually left in quite a mess.

Hard to say without those photos. Boat could be a wreck or just slightly dirty.

# ¿ May 20, 2017 17:16

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Krispy Kareem posted:

I've known so many people who can't stand being anything but their own boss and they are almost all failures.

Real leaders can accept being led.

# ¿ May 22, 2017 18:11

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

EAT FASTER!!!!!! posted:

God I love your posts

What is wrong with that statement? Real successful people should be able to function effectively as both employees and employers. If you can't even cut it when following orders, how can you cut it when you are running the show yourself?

# ¿ May 23, 2017 15:55

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

KingSlime posted:

I thought you were being facetious because it is an empty and meaningless statement being used by John Smith to pat himself on the back for clearly possessing the skills of a great leader/being familiar with the core attributes of a good leader. His posting gimmick is literally "look at how much of a badass I am," we're all quite familiar with his physical abilities in this thread

Er... no? I am so smart that I know I shouldn't run a business. I am not a great leader because I am not good with people. I am good with numbers and finance.

But yes, I worked hard to achieve my current level of success and am extremely proud of myself. What of it?

# ¿ May 24, 2017 15:40

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Dick Nipples posted:

TL;DR: Developmentally challenged cousin wants to spend her 6 figure trust fund on ridiculous poo poo. My dad tries to help and gets fed up. Cousin gets the money, burns through it in 8 months, and is probably in jail now.

Your dad sucks. It was his brother's dying wish and he couldn't be bothered to follow through. Considering that she is literally (mildly) retarded.

# ¿ May 30, 2017 16:20

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Zo posted:

lol you're mildly retarded as well looks like

Now, now. People in glasshouses shouldn't throw stones.

Dick Nipples posted:

Ah yes - a long and drawn out court case that will incite a huge amount of family drama, *especially* for my grandmother. Just what we need.

Shouldn't all this have been worked out beforehand? Regarding the legal limitations of the trust and how to best structure it?

If it was indeed properly structured, then seems to me that your dad simply couldn't be bothered despite his promise to his dead brother. If you are not willing to eat a lot of poo poo, then you shouldn't promise to eat a lot of poo poo. His brother would at least then have the option of trying to find an alternative.

Hoodwinker posted:

His post history on reddit leads to several different MMO subreddits so take from that what you will.

Sure, but, "Give me all of the money or I will disown you." is still bad behavior. The part that kills me is he essentially has access soon to enough money to get his life started better off than he was living and he's getting bullied out of that.

Some people can't be trusted with any money.

# ¿ May 31, 2017 14:13

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

CitizenKain posted:

John Smith not understand something simple, you don't say.

So, no actual point then? At least have the moral courage to take a stand instead of just implying you have something to offer.

# ¿ May 31, 2017 17:06

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

So, shall I take it as a heartfelt general feeling that CitizenKain is indeed full of poo poo? And that I was indeed right that the trust *can* be structured accordingly, albeit at significant but necessary expense.

# ¿ May 31, 2017 18:49

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Academician Nomad posted:

Back when public universities were treated like the mostly-public goods they are, even as late as 1990

Wasn't aware that in the 1990s, universities lacked the ability to exclude enrolling students and the marginal cost of another additional unit of consumption was zero. Man, things sure have changed now that these goods are rival and excludable.

# ¿ Jun 1, 2017 15:11

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Academician Nomad posted:

Educations are (and have always been) at least partially public goods, even if they are not purely so. [positive externality talk] Educations are also non-rivalrous, in that you being better educated doesn't take anything away from me being better educated

Man, considering your nickname, you are very poorly educated. Unless you didn't actually attended economics, then fair enough. I am slightly lol at your apparent complete confidence, when combined with your grasp of the subject material.

# ¿ Jun 1, 2017 17:28

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Eldred posted:

If he (?) is so far off-base, surely you are able to counter his arguments without relying solely on childish name-calling.

Agreed. But what he said is so far out there, I want to see his reply first. Basically, his post was the rough (economics) equivalent of denying climate change.

Just to clarify things, we are not discussing some high-end theoretical poo poo that takes an advanced economics degree to debate. We are discussing level 1000 material, at best level 2000 material. And he is reallllly poo poo.

# ¿ Jun 1, 2017 17:46

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Motronic posted:

Between this thread and the Corporate one I'm getting the feeling that you forgot to take your meds today.

Fair point on the Corporate thread. I have already acknowledged that my initial response was way too aggressive.

But I disagree for this thread. We are discussing basic college material here. People should know their poo poo before mouthing off online.

# ¿ Jun 1, 2017 17:59

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Droo posted:

My numbers were literally correct and from multiple sources including your own, and yet you continue to call them "arbitrary" so at this point I assume you are too stupid to understand anything, but I will try anyway.

In 2011, the deduction looked like this:

1: Take $750 in tax revenue from people who make over $100K and $250 from people who make less than $100k
2: Give $510 back to people who make over $100K and $490 back to people who make less than $100k

To me, that looks like a net transfer of $240 from people who make over $100k to people who make under $100k, which you would essentially get rid of by removing the mortgage interest deduction. So I don't see how it's good for people who make less than $100k to just outright remove the deduction. You would have to make a different argument, such as "we should replace the deduction with more food stamps" in order to make that case.

How is Droo calling out and reprimanding an idiot like AreWeDrunkYet different from me calling out and reprimanding an idiot like Academician Nomad? Both Droo and I are in the right from a factual point of view, we should *both* be entitled to reprimand idiots.

# ¿ Jun 3, 2017 03:14

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

El Mero Mero posted:

I would like to see those studies. (not doubting you, but I'm curious)

I remember reading about that too. Not sure if it corrected for all other factors, but the conclusions did seem reasonable.

Of course, it doesn't really change people's minds. If you believe in personal responsibility, you will continue to after reading it. And if you didn't, not.

# ¿ Jun 4, 2017 07:01

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

22 Eargesplitten posted:

At my last job I had two mid-20s coworkers who had bought houses with very little money down because of that logic. I mentioned how I liked not having to pay for repairs and I didn't want to stay in the area, and that was enough to get them to stop trying to convince me to do the same.

I think I mentioned the one who put 1% down on a Department of Agriculture loan in the last thread. He was making $23 an hour in the front range of Colorado, and shortly before I left he found out his wife was pregnant. He was happy about it, so good for him I guess?

Unless there is something you are leaving out, I don't see why you can't just be happy for him. $23 isn't too bad in a low COL area. Stupid if it is a McMansion of course.

# ¿ Jun 6, 2017 15:13

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Noctone posted:

The Colorado front range isn't cheap.

Oh. Ok, thanks.

# ¿ Jun 6, 2017 16:44

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

22 Eargesplitten posted:

Yeah. The front range includes places like Denver and Boulder. He is in one of the cheapest parts of it, but I still wouldn't call it low CoL. Add the fact that his wife will probably have to quit working for a while, he's not going to be doing all that great. It might be one of the cheapest parts, but it also has a pretty bad job market unless you want to drive an hour to Denver every day. If he did, I guess within a few years he could be up to 70k+ which would be great for the area, but he would also never see his kid.

Also JFC people younger than me are intentionally having kids. Kids are BWM, join the no-spawn movement at r/childfree.

I get a lot of poo poo from this forum for this, but I wouldn't say that sacrificing yourself for your kid is necessarily bad. My grandparents went through quite a bit (as did my parents to a lesser extent), and we are all quite happy now. This is 100% conditional on it not being a stupid McMansion, of course. But really, a good school district is something I would value.

And I am sure his wife can provide all the love his children needs.

Higgy posted:

Take out a Horse Equinty Line of Credit and call the horse tow truck duh.

I would love to see a photoshop of a horse tow truck! What would that be like? A big rear end draft horse pulling along a tiny pony???

# ¿ Jun 7, 2017 15:00

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Ashcans posted:

I just want to be able to afford that avocado on toast.

How then will you be able to afford a house in the red-hot Auz market? Think of your future, you poor.

# ¿ Jun 8, 2017 13:36

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Ebola Roulette posted:

https://www.reddit.com/r/personalfinance/comments/6fwjzz/26_looking_to_leave_an_80kyear_job_so_i_can_make/

It's a long post so I picked some good quotes. Long story short guy has an $80k a year salary, has an employer matched 401k, and 20k in student loans.

But he needs to follow his dreams and make art.

But is he ok with eating rice and beans for the rest of his life?

# ¿ Jun 8, 2017 15:22

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Why didn't he enforce some discipline on his daughter? If he was going to agree to funding her education, at least he should have imposed some reasonable conditions instead of allowing such a massive loan for a bullshit major.

I think ***BOTH*** the dad and daughter are morally to blame. Don't do stupid poo poo and don't agree to stupid poo poo.

# ¿ Jun 12, 2017 18:10

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

cowofwar posted:

Holy poo poo. $8500 for a dog?

Google it. That is cheap compared to during the peak of the fad.

# ¿ Jun 12, 2017 18:57

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

ate all the Oreos posted:

One of my friends said the problem was that he was "like fox news for the left," and that John Stewart was "more fair and thorough," though they're not a dumb ~truth is in the middle~ type person and are pretty far left themselves so I'm not really sure what to make of it. Then again I really have zero experience with John Stewart, I've watched maybe like one episode of the daily show?

I think his show is pretty reasonable most of the time. And I am a far right person. The issue is that sometimes he does slip up bad, and when the whole premise of your show is about other people's fuckups, you yourself should *never* gently caress up big.

By gently caress ups, I am referring to relatively straightforward economics errors like that dumbass from earlier that didn't understand the definition of public goods. I am not referring to values since these are subjective, I am referring to his proposed execution concepts.

# ¿ Jun 13, 2017 16:30

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Honestly, if you belong to that high a class of society, I don't see even a few million as an issue. Like the groom said, he can afford it and wants to enjoy himself. And this is coming from an extreme FI person. What is the big deal?

If Bill Gates wants the wedding to be held on a artificial island in the shape of his daughter's face, then Bill Gates loving gets a artificial island in the shape of his daughter's face.

# ¿ Jun 13, 2017 17:30

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

I think we can all agree that dying with your money left unspent is BWM. Within this context, deliberately willing your money to your children counts as "spending" it.

If you have 25 million, you literally have to spend at that type of level simply to expend up your wealth. Think of how your department acts when the fiscal year is about to close. It is your duty to spend it all up or next fiscal budgeting you are gonna get hammered. This is simply the personal version of our corporate lives.

Quite frankly, I consider it BWM if you are not splashing out big on your wedding when you are at that level of society. Once again, I am a extreme FI-er.

# ¿ Jun 13, 2017 18:08

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Enfys posted:

Anyway, the IRS sent me letter in 2010 declaring I owe them approximately $7,000. I haven't filed since and they haven't tried to contact me since. What is the best way to handle this?

"... hoping somebody has dealt with a similar issue ..."

Think that is one concern he need not have.

# ¿ Jun 14, 2017 13:00

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

ebacho posted:

so yeah I dunno how these people think

There is your problem right there.

# ¿ Jun 14, 2017 18:37

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Ixian posted:

Not really a derail in my opinion - since at the core, it is a BWM/BWL discussion - but I've never understood the survivalist mentality when it comes to precious metals/stones.

In the Zombie apocalypse (or an epidemic right out of The Stand, or the Day of Judgement, or whatever collapse of the rule of law fantasy fuels their fevered dreams) where, exactly, does having a stash of gold/silver/whatever benefit you?

You want to talk about that in terms of a normal, maybe slightly paranoid, diversification strategy for investments, ok, I can maybe see that, but when society collapses what makes these types think we're going to revert to pre-medieval bartering times where a gold coin has value? I don't get it. Probably a good thing.

Quite common to also stockpile ammo and essential medicine as alternative means of trade. The feature about gold is what has made it historically a means of trade, it is durable, divisible and portable. I don't because I invest in international equity ETFs, but If you are into this, it would probably make sense to diversify into all 3.

The ammo component is fairly inevitable since you will have to be heavily armed anyway. So, ammo serves dual purposes.

Hoodwinker posted:

Shut up, dummies.

Would a fairly small loan (~$5000) be a good alternative to getting minimum wage job while in college?

Holy poo poo his reply when he was told to just get a loving job:

He sounds like every teenager ever. It's adorable.

Edit: Got it before the inevitable meltdown deletion.

Sounds to me that he is min/maxing correctly. If his self-assessment is accurate.

# ¿ Jun 16, 2017 05:38

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Guinness posted:

Hoo boy, sucks to be this guy:

https://www.reddit.com/r/personalfinance/comments/6hyiq6/nv_inherited_overwhelming_debt_from_a_brokerage/

Not sure how to feel about it. Boy is stupid to sign for poo poo he doesn't understand, but then again, I can see how an average uneducated person may not understand the situation. I guess it depends on the timeframe. If he had an entire week or month to close out the positions and he didn't, then yea, it is more on him. But if it took place within mere days, maybe less so.

Edit: Oops, didn't notice it was a week. Yea, not sure how to feel about it. Actually, now that I think about it, how can he even sign for it personally? Doesn't it have to go through probate and so forth to settle up everything?

John Smith fucked around with this message at 10:21 on Jun 18, 2017

# ¿ Jun 18, 2017 10:16

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

baquerd posted:

Having designated beneficiaries allows many accounts to bypass probate I believe.

I see. Well, I am well-known here for being a extremist, but even I wouldn't be too hard on him. I mean, it literally took place within a week if you believe him. I can certainly see how an uneducated person may not realize what he signed for.

He still go to take the financial hit, of course (unless he manages to wriggle out, which seems unlikely). But morally, shrug.

# ¿ Jun 18, 2017 11:05

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Sundae posted:

There are also securities for natural catastrophe insurance (http://www.casact.org/community/affiliates/CANE/0912/Cat-Bond.pdf)

Hi, Sundae. FYI, this is actually a good thing. BEcause even the big re-insurancers are fearing to offer that sort of large-scale insurance. So, without this, people might have to go without any insurance at all.

# ¿ Jun 19, 2017 03:26

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Ashcans posted:

This being America I would not be surprised if there are places that want you to pay up front for non-emergency procedures, and in that case I don't know what you would do to manage it.

I *heard* that if you lose a few fingers while working on your home, they may refuse to re-attach them unless you pay first. Since it is non-life threatening. If this is accurate, I would rather charge it off to my CC than the alternative.

Of course, they are still responsible for their situation since being sick is an inevitable part of life, but it is too late to repent by the time you are at the ER with your fingers in a bag of ice.

# ¿ Jun 20, 2017 16:41

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

KingSlime posted:

I weep for how much attention and focus is given to these abstract, meaningless systems while the world burns and people are struggling to secure basic necessities

I mean it's not literally burning (at least not my corner) but humans are such bizarre, illogical creatures. Is anybody else who is reading these last few posts also sort of feeling like "yeah, everything isn't going to be okay," or am I just an angry, out of touch nerd?

I get that established currencies themselves are already an abstract system and I am a good slave to the puppetmasters or whatever but geeze if people put that much effort into making their life/their surroundings better instead of racing to the next get-rich-quick scheme

Isn't the whole point of our tremendous wealth that we can afford to indulge such bullshit? Would you rather be starving to death without any of this nonsense?

# ¿ Jun 23, 2017 14:29

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

ate all the Oreos posted:

I'm not sure those are the only two possible options, or even that "having tremendous wealth" is done for a valid point at all, at least when it gets beyond surviving and living comfortably

Obviously, there is a middle ground as well. In fact the middle ground is the bulk of the spectrum. After all, how many people actually do buy into such nonsense? But a spectrum by its nature will also include indulgent nonsense.

And isn't that the point of a wealthy society? That we can afford to have pursuits that our forefathers would never do? Even silly pursuits. Johnny Deep firing his friend's ashes out of a big-rear end cannon didn't make that much sense either, did it? But his wealth allowed him to do it.

# ¿ Jun 23, 2017 15:00

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

brugroffil posted:

johnny depp's broke now so maybe not the best example?

Doesn't that make him all the more silly then?

# ¿ Jun 23, 2017 15:25

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# ¿ May 8, 2024 07:27

John Smith: Feb 26, 2015; by LITERALLY AN ADMIN

Pompous Rhombus posted:

This basically happened to me, except I was asked to leave the account open so the people moving in after me didn't have to wait to get utilities connected. They would create their own account and then we'd settle up (this was all done through a leasing company).

Surprise, three months go by and new tennants haven't created an account, so I get hit with their $500 bill for the quarter on top of mine. Told by power company I am legally liable for it, leasing company is apologetic and says they'll get them to pay, still no word.

Next time I move, the new tenants can sit in the dark until they connect it themselves.

100% and completely your fault. Lol at your check to (implicitly) blame the leasing company. That is like blaming the robber for the robbery.

# ¿ Jun 24, 2017 09:47

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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