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Twerk from Home posted:Oh boy, going from a job that pays $20k annual bonuses and has let him get $50k into a 401k by age 24 to ski bumming it! I've sitll never had a job that does 401k match, I have no idea how people get that much in when you're only allowed to put $18k/year in. Employer contributions or profit sharing can get you much more than $18k a year employee contribution limit. Also if you have multiple jobs or multiple unrelated businesses you can get multiple employer contributions.
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May 2, 2017 20:50
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Vox Nihili posted:Pension office should have hired a goddamn puppeteer to explain the situation in a way she could understand. She just lit $250k on fire, good god. To be fair, any promise of a pension in 25 years not from the federal government is probably worth far less than the promised value given the general success private companies have had in the last couple of decades with reneging on pensions their retired workers were depending on.
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May 3, 2017 14:25
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Cold on a Cob posted:I've been lead to believe if you're going to trade in every few years you should just lease instead. I don't know if that's true or not though. Lease deals vary from great to terrible, it is completely dependent on the manufacturer and your negotiating/timing. Leasing a car off the dealer lot near the end of the model year is often a fantastic deal, for example.
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May 5, 2017 20:22
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Well, often it's better made with better materials.
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May 7, 2017 01:09
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therobit posted:Was it a big ticket item? I could see the retailer paying for the financing in that case. Otherwise it could be that enough people pay late that they are counting on late fees to make it profitable. Anyone who pays cash is subsidizing the price of any user who uses credit cards or financing products. It is all priced into the sticker on the item.
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May 7, 2017 21:29
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Steampunk Hitler posted:Eh. I save ~40% of my income and I make ~300k/year. A thing I enjoy using and is well within my means is not BWM. All incomes $100,001 or greater are headed to the guillotine so you should probably enjoy it while you have it
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May 7, 2017 21:30
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Blinkman987 posted:Like anything, you really have to know the market. Shoes can be very GWM but: Yeah when the shoe market gets reasonably efficient your average resale premium is approximately the minimum wage time cost of going to footlocker and waiting in line for shoes, plus you bear a lot of inventory risk
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May 7, 2017 21:34
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22 Eargesplitten posted:Maybe he should have bought a dirtbike instead so he could flee through the woods from the revolutionary mob. quite the contrary, it's all about cardio after the revolution overthrows the bourgeoisie and gasoline is no longer easy to find
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May 7, 2017 22:16
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ate all the Oreos posted:It's a stationary bike that connects to the internet, even if you don't think it's BWM it's at least a silly expensive IoT bullshit thing I grant you it is overpriced but it is not a lovely $200 Wal-Mart bike, a similar gym quality spin bike such as a Spinning performance or Keiser M3 runs $800-$1500 plus then attach a tablet to it to display the classes. Yes there's a markup in there.
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May 8, 2017 06:38
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GoGoGadgetChris posted:Oh boy, this one is probably going to produce a "my parents screwed me over" thread in a year or two. 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
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May 8, 2017 12:51
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Cold on a Cob posted:Not the same but didn't there used to be companies that did "Columbia House, but for Books"? Yes and they would send you like 3 hardcover books a month at list price plus shipping unless you called and waited on hold and complained enough to cancel
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May 8, 2017 20:15
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EAT FASTER!!!!!! posted:Yeah it was called "Random House" and they would just send - get this - a RANDOM book to your HOUSE No, they sent a specific BOOK but they sent it to a random HOUSE
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May 8, 2017 20:16
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The answer is yes, 1, open a CSR and chase freedom unlimited, collect both signup bonuses, charge $4k to CSR, $22k to CFU, redeem CFU points at effective 2.25% plus bonuses while carrying $22k on the card for 15 months without interest
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May 9, 2017 00:31
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Krispy Kareem posted:The implosion will be isolated unlike the subprime crisis, until we find out Citibank and Bank of America are balls deep in Vancouver area condos. Citi and BOA put together have about exactly the total assets of all of Canada ($7T) so it will probably be ok even if they take big hypothetical losses on condos in Canada
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May 9, 2017 14:33
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ranbo das posted:Sounds like a lovely company tbh. If they couldn't do the raise they should have come back with maybe some other incentive, or at least a reason why they can't do it. Countering is just part of the process and even if they can't provide a raise it shouldn't be a deathblow to your chances. The reason they couldn't do it was probably they hired somebody else at their offered salary
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May 9, 2017 19:08
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ate all the Oreos posted:Why the gently caress didn't you slap him and tell HR immediately Most people aren't in the position to righteously defend others against wrongs of federal employment law at the potential expense of their job or career advancement
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May 9, 2017 22:59
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What omg that's so hosed up did he have to live at a bird rescue after that UPDATE: He got married at the courthouse and bought the cheapest ring ever, omg let me tell you about it. Somebody fucked around with this message at 06:04 on May 11, 2017 |
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May 10, 2017 18:36
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Uterine Lineup posted:Reminds me of this article about an accountant for celebrities http://nymag.com/thejob/2017/04/the-accountant-who-tries-to-keep-celebrities-from-going-broke.html In the era of Uber etc how in the world does a stupid car and a couple security guards for hire possibly cost $1000+ an hour
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May 11, 2017 02:19
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Scudworth posted:They hire professionals. I mean no doubt, so does my place of employment on nights and weekends but I'm pretty sure those armed guards make about $25 an hour. How much are ex cop or ex military or professional bouncer types charging?
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May 11, 2017 03:46
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Scudworth posted:Emma Watson's ex-NYPD guard makes $150k Insert joke about why would an NYPD officer take that kind of pay cut??
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May 11, 2017 04:30
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BloodBag posted:How big of a bloodsucking entourage does Johnny Depp have that he can blow through $30k in wine a month? Didn't Well if you have a taste for wine the absolute best vintage wines are easily $1000+ a bottle wholesale, let alone restaurant markup, even post wine crash. Particularly first growth grand cru Bordeaux you could drink a different $1000 bottle of wine every day of the month.
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May 11, 2017 14:33
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monster on a stick posted:I was listening to a legal help call-in show, and someone called in with a gambling story. He was staying in a casino with his brother, and he took only a few hundred with him to the gambling floor so he wouldn't lose more than that (which I guess is GWM if you are going to gamble.) I found the BWM, it was the guy who loaned his drunk idiot brother "a few thousand" to gamble with
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May 11, 2017 18:49
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EAT FASTER!!!!!! posted:I found this link which is both celebrity gossip and good financial advice so I enjoyed reading it quite a bit. Master P was never actually broke and is currently battling with his ex wife over hundreds of millions of dollars in real estate and business assets. Not paying people you owe money and cycling yourself and various business entities though bankruptcy courts is a time honored strategy for extremely wealthy people to avoid honoring debts.
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May 11, 2017 20:13
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ate all the Oreos posted:Are there any celebrities or rich people that spent their money on a giant death laser or something neat like that because you're not really living until you have a giant death laser not exactly but Johnny Depp did spend.over $5MM to launch Hunter S. Thompson's ashes out of a cannon
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May 11, 2017 20:27
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DarkHorse posted:It reminds me of one of the ways I make a billion dollars relatable to people. Imagine one of the most expensive cars you can own, a new Lamborghini at around $400,000, which is as much as people's mortgages if not several times that. No, if you were earning even very modest returns on $1B your trifling $20MM a year Lamborghini habit would never even come close to running you dry.
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May 12, 2017 04:09
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Is extra bad and stupid that OP somehow lost 70% in the middle of a rally where the S&P 500 gained 15%
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May 13, 2017 05:40
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negative $500 cash flow a month for two condos doesn't automatically mean it is a bad rental investment, it could easily be a 10 or 15 year mortgage booking a profit in equity accumulation and capital appreciation. If my wife was constantly badgering me about her designs on my premarital assets I would probably get defensive about it too 
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May 15, 2017 22:45
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Ixian posted:This is bad. A negative cash flow of $500 - assuming both units are actually occupied - is terrible, actually. Sure, "the renters are paying in to my equity!" except with what is almost certainly a negative cap rate they probably aren't even going to beat inflation when all is said and done - a point the wife rather reasonably makes. And bad as it is this of course is assuming a 100% occupancy rate and no owner maintenance costs which is pure fantasy-land. The negative $500, from reading the post, is just from rents, not total cashflow. The latter is likely much worse. You literally cannot evaluate the investment (i.e. calculate the cap rate) without knowing the terms of the loan and seeing the payment breakdown. Yes all things being equal obviously a positive cash flow rental is preferable to a negative cash flow rental but it is possible for a negative cash flow rental to produce a superior profit compared to a positive cash flow rental if the negative cash flow is due to a higher mortgage payment that costs less interest and accumulates more equity. Whether any investor can tolerate the negative cash flow is another question and obviously many small and accidental landlords cannot. It's absolutely possible that this is a sincerely bad and mismanaged rental investment - but you just don't know. All you know is that two condos are net negative $500 cash flow per month and an unhappy wife thinks the equity in the properties should be elsewhere.
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May 15, 2017 23:18
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Randler posted:Can you offset your renting losses against other income or does the US tax system have safeguards against endeavors that won't turn a profit? Yes but there are limitations both directly with dollar limits on passive activity losses and indirectly through the Alternative Minimum Tax system. Also the way taxable rental income is calculated includes equity paid down on the mortgage even if it isn't seen directly as net cash received. There are also bona fide business versus hobby tests for the same reasons you have described.
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May 15, 2017 23:21
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balancedbias posted:If you are managing 2 rental properties adequately and are building significant equity but still have a negative cashflow , then I hope the plan is either rapid free-and-clear on one of the properties and create a debt snowball, or a cash out refinance into a longer term that gets him to neutral /slightly positive while allowing for a buffer or buying (smarter) properties to offset the losses. If he's just looking for appreciation, then he's speculating. There's also the liquidity loss for the whole time the process is net negative; hell without the property hassle and $500 per month in hand he could just invest in REITs or wait 10 months to put 5K into crowdfunding. Yeah obviously he could be working to put himself in a better overall investment position but I see significant reasons not to just oblige the wife OP and sell the properties: 1) taxable event resulting in capital gains tax and depreciation recapture 2) expense and hassle of selling tenant occupied properties, hefty agent commissions plus the potential for lost rent 3) converting a premarital asset to a comingled martial asset in a marriage where they are apparently already fighting about money Further I can see how it might be hard to use your $400k equity to augment your position with better cash flowing properties if your wife is already up your rear end about the two you own. So who really knows I guess.
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May 16, 2017 04:12
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Cold on a Cob posted:The insurance industry plays out eerily similar to an MLM for the agents at the bottom. Most are not able to support themselves with sales and there is a lot of turnover for this reason. At least with insurance they aren't able to go into debt filling their garage with shampoo and thus wash out pretty quickly if they aren't good at sales and/or recruiting. I wonder why MLMs are able to persist with the "you have to buy $5000 worth of inventory to start your business" bullshit in the age of extremely cheap next day fulfillment from Amazon et al
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May 16, 2017 21:39
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lavaca posted:My state passed a law stating that businesses do not have to make allowances for "emotional support animals", only trained service dogs. It contains a notable exception: that's great to hear that some places are fighting back against general abuse of the legal murk around "emotional support animals". I bet restaurant owners and landlords will be glad to finally have some legal backing.
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May 18, 2017 14:21
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I predict that at some point in the future one or more national economies will crash to a greater or lesser extent, and our understanding of the complex interwoven factors involved will be largely expressed in a swirling mixture of breathless post-hoc rationalization
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May 19, 2017 03:51
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therobit posted:Well that's just like a horoscope; it's so broadly applicable that it will be true no matter what. You don't say
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May 19, 2017 12:09
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22 Eargesplitten posted:I hope the next huge housing crash causing mass homelessness and debt-induced suicide comes in 5-10 years. Then I can get in on a sweet foreclosure deal. latestagecapitalism.txt
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May 19, 2017 12:10
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Why didn't anyone put essential oils on that poor horse's legs
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May 19, 2017 20:47
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British people actually have less cavities and missing teeth than Americans and other affluent countries but far fewer cosmetic procedures than Americans. It's sort of a hard question to evaluate however because dental health in general is improving and there is a lot of cultural and socioeconomic variability in how often people go to the dentist etc.
BEHOLD: MY CAPE fucked around with this message at 16:13 on May 29, 2017 |
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May 29, 2017 16:10
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^^^ it's this. The overall scheme is really BWM quite honestly since if she and her parents together had just made 15 year mortgage payments together in the first place they would have $175k principal equity PLUS the good fortune of appreciation in the property by the end of 9 years of medical school and residency which is astoundingly GWM
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May 31, 2017 20:49
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That the most profitable sports league in the world can't find a small but respectable salary to pay its cheerleaders is just another symptom of the general societal disease that is the NFL. There is basically nobody the NFL owners will not actively gently caress over for money: players, local governments, and cheerleaders
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May 31, 2017 23:24
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Tiny Brontosaurus posted:BWM: Not shelling out for the only known recording of the first instance of your marquee sporting event It's actually exquisitely GWM because the recording is not honestly worth very much in terms of commercial broadcast income (i.e. the absolute only thing the NFL gives a gently caress about) and their threats to enforce their copyrights effectively prevent a third party collectors market from existing. They don't want to be extorted for film of their event and they don't want the owner to profit off its sale, either.
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May 31, 2017 23:44
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