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Hoodwinker
Nov 7, 2005

bob dobbs is dead posted:

돈 낭비한 똥새끼 뜨레드
"Money wasted poo poo cub red" according to google translate.

Eh, we've done worse.

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Hoodwinker
Nov 7, 2005

Saw the word "horse" today.

Hoodwinker
Nov 7, 2005

Murderball posted:

Hope you're enjoying the tag
Jealous I don't get to be a horse boi

I've had several thread titles at this point! (he cries lamely into the uncaring void)

Hoodwinker
Nov 7, 2005

AndrewP posted:

How do you rack up that much in CC debt? I don’t understand the decision tree that ends with three near maxed out cards. Especially making half-decent money like this guy. That is just blowing money on an inconceivable scale.
Complete head-in-sand attitude about anything related to your finance.

Hoodwinker
Nov 7, 2005

I can't go further into it in this thread but it's not all that unbelievable.

Hoodwinker
Nov 7, 2005

:same:

Hoodwinker
Nov 7, 2005

GoGoGadgetChris posted:

Retirement accounts are to secure your future. Is a religious tithe not the same thing on an infinitely grander scale?!
The Great Old Ones care not for your suffering, and no gifts will grant their mercy.

Hoodwinker
Nov 7, 2005

100 HOGS AGREE posted:

cspam rules actually and some posters in bfc are gonna get the 'tine, thems the breaks.
Looks nervously at EAT FASTER

Hoodwinker
Nov 7, 2005

:discourse:

Hoodwinker
Nov 7, 2005

Yeah it's just basic posting etiquette to take the extra 20 seconds to write out [url][/url] and paste some stuff in there.

Hoodwinker
Nov 7, 2005

GoGoGadgetChris posted:

The rule is in place because the big offender would change all the details, lol.

Not that it matters since it's all anonymous stories anyway
I like reading the reddit comments where all the reddit posters call the OP an idiot though.

Hoodwinker
Nov 7, 2005

Hoodwinker
Nov 7, 2005

BEHOLD: MY CAPE posted:

Well I will give you a brief primer on human psychology; the existential anxiety of death has existed as long as human self-awareness and the simple knowledge that life must one day end has spawned a broad array of psychological and social coping mechanisms, which range from the simple quotidian denial to elaborate rituals and customs regarding the process of death and the handling of corpses. Although they would recognize the literal truth that people who are dead are not capable of caring about what happens to their bodies, most people have at least some difficulty abstracting their future dead bodies into unfeeling, meaningless dead meat. Merry Christmas!
look at this DUMB NERD (merry christmas)

Hoodwinker
Nov 7, 2005

My Mom Lost over 10K Trading Options... How to fix this

quote:

I told her that the secret is buying diversified funds and holding onto them, but she saw a coworker trading options and secretly started trading them. I don't fully understand options trading and neither does she. That's what so hurtful about this, is she could go into something so woefully unprepared without consulting me. We sold them all at a huge loss so that we can take advantage of tax selling, and I reinvested what was left in VTI. So, the question is, how can we fix this? I've convinced her to put a substantial amount of money in a 5 year CD with a good rate. She told me that she wouldn't need to access the money these next 5 years and she's turning 60 soon, so I imagine she'll be able to access her IRA within the next year (someone correct me if I'm wrong). But we lost 14k. I'd like to know what's a good benchmark for us to aim to earn to replace this, when factoring future value and things of that nature. I'm still so shocked. She told me she lost some money on investments but I didn't know the full extent until yesterday.

Thanks

Edit: "There's no fixing this" comments are unhelpful. Please stop being so pedantic. Realistically, I'd like to earn the money back while accounting for the future value, assuming an interest rate of 3%
Help! My mom lost a bunch of money gambling! What can I do to fix this? Don't tell me there's no way to fix this completely avoidable loss of money!

Reply comment posted:

I don't really understand your question. You lost 14k then cashed out. You just have to keep making money the old fashioned way. If there were a method to make 14k easily and fairly quickly, you should just do that for your investing.

OP posted:

So, basically here is my thought process. She has a bank account worth approximately $150k. I think she should close that and put all that money into a 5 year CD at 3.5%. That would have a future value of around $178k if I'm not mistaken. We would have earned the $14k back twiceover for money that would be sitting in a bank account anyway.

Of course, she would not be able to access that during these 5 years, but she has around $500k in an IRA. Am I right in thinking that she can access her IRA at age 59 1/2? Or am I mistaken?

She also has a job and can hopefully keep it these next 5 years
It's not terribly subtle how this family doesn't exactly seem to understand how to think about money. They're not doing awful. Losing $14k when you have half a million lying around is certainly not the worst with money. But jeez, man, I feel like they're a generation or two away from creating little Zaurglings who don't understand the time value of money or how it works.

Hoodwinker
Nov 7, 2005

Residency Evil posted:

A story from one of my co-workers:

GWM: Announcing to the world that you're pregnant at your sister's wedding, and then pulling away the wedding photographer to take some pregnancy photos on the side.
Shame about all of the daggers later discovered in their back, though.

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Hoodwinker
Nov 7, 2005

I have an uncle who's generally regarded by the family as bad with money.

He was an accountant. He helps his second wife run a restaurant now.

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