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Cacafuego posted:Let’s break this thread in with a good one: How is the answer not a simple "don't take care of them"? If they couldn't bother to save for retirement and if they didn't help you out financially then don't feel obligated to help them. Also, while their current expenses might be $8k/mo, if they end up having to move in etc, you can clearly cut that down considerably.
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Jan 3, 2019 02:38
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SiGmA_X posted:My parents made a series of terrible decisions, now want to unload $90k of debt onto me. Not sure how to proceed This happens so frequently I wonder if the parents think that it is the student's responsibility to pay. They can choose to defer payments while the student is in school plus 6 months after they leave, so they could easily trick themselves into believing it. Otherwise it is pretty hilarious that the parents exhibit the same behavior as many students where they borrow the maximum they can without a single thought towards repayment. For this person it sounds like their parents consolidated a bunch of parent plus loans together so bankruptcy wouldn't be an option (unless they have considerable debt elsewhere they could offload). I was really hoping most of the way through they did the one neat trick and consolidate student loans with a personal loan or similar and then discharge that a bit later. But they mention their sister's loans so ya. And 8% sounds about right for 2010 without looking anything up to confirm.
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Jan 3, 2019 05:42
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RC and Moon Pie posted:If the husband is referring to assisted living, $6-8K per month sounds about right. Old folks homes are crazy expensive. From what was quoted their parents don't seem to even be close to needing that but assuming they do it sounds like the parents problem. They can sell their assets and apply for state and federal assistance for it top since they'll be destitute. It is the parents job to create financial security for their family and to impart wisdom on how to do that. They couldn't be bothered to save a dime for the inevitable and in the process stole from their kids. gently caress em
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Jan 3, 2019 21:14
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Cacafuego posted:My old roommate had no credit and was doomed to an apr of 24%. Her debt to income ratio was fantastic so they worked with her. Lol, a person with no credit, so presumably no debt, had an excellent debt to income ratio? Why I'll be....  maybe he means after considering the loan it was still a good DTI...
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Jan 5, 2019 00:25
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Power of Pecota posted:I'm not going to voluntarily listen to Ben Shapiro say anything, but how in the world do you pitch Bitcoin as a hedge against anything when it's eaten such an insane amount of poo poo in the last year? Do they not even acknowledge it? The rationalizations I hear about that are to set the time that you're comparing to further back. Sure it ate a ton of poo poo in 2018, but since Jan 2017 it has gone up at an annualized rate of almost 200%!!! Put the time back even further and see even better gains! Using something as volatile as bitcoin as a hedge against inflation is monumentally stupid anyway though, there are plenty of very safe ways to hedge against inflation. You don't invest in something that you hope will give 200% returns or better as a hedge against inflation either, you do so to try and speculate and win big. I'm not too terribly surprised bitcoiners don't realize that since so many still believe bitcoin is a viable global currency.
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Jan 8, 2019 23:26
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Magissima posted:BWM 2019: You don't have the money to play starving artist
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Jan 10, 2019 03:43
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Man those must have been some badass looking checks
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Jan 10, 2019 21:14
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CmdrRiker posted:5.9 gals/100 miles is a weird way to say 17mpg. Listing it that way makes it much easier to compare fuel savings for different vehicles. A 13mpg car takes 7.7 gal to go 100mi, that 17mpg car takes 5.9gal so you can see that you save 1.8gal for every 100mi driven or it costs a out $4 more per 100 miles (in current gas prices of $2/gal. Most people would think that adding 4 mpg of fuel efficiency would have similar savings regardless of the absolute starting point, but that would be incorrect. To see this we can compare a 26mpg car vs a 30mpg car. At 26mpg it takes 3.8gals to go 100 miles and at 30mpg it takes 3.3gal, now we only saved $1 per 100 miles with the "same" jump in efficiency. Those gains get smaller and smaller the higher you go.
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Jan 11, 2019 02:53
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CmdrRiker posted:Assuming you drive roughly 833 miles a month (~10k miles per year), each truck has a 36 gal tank, and fuel is $2 per gal: You could have done all of this without ever touching the size of the tank FYI (which you can see cuz every instance of it turns into a 1/1 term). But ya, this is the type of analysis one would need to do to see if the savings makes sense. And quite often it doesn't especially not as the sole rationale.
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Jan 11, 2019 03:02
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BlackMK4 posted:Where do you live that you manage to only drive 10k miles a year and gas is $2/gal 10k miles is a poor assumption; but gas is pretty cheap in the US right now, like $2.20/gal average including states like California that have super expensive fuel. I filled up yesterday for $1.98/gal in Minnesota 
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Jan 11, 2019 03:06
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Leon Trotsky 2012 posted:I know a guy who takes his Tinder dates to an Arby's right next to his house. It's like where those scammer emails will have tons of spelling and grammar errors weeding out the skeptical and leaving behind the most gullible.
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Jan 11, 2019 18:33
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JRay88 posted:What’s the inflation adjusted ROI on a $201 investment in 1985 that’s now worth $20,000+? Annualizes to about 12%
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Feb 2, 2019 00:21
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Craptacular posted:Anyone in their early 40's who's counting on social security being anything more than an incidental part of their retirement strategy just needs one firearm and one bullet. Social security isn't going away. Just by removing the payroll cap for SS tax would keep it fully funded to give the same payouts as it does today. If absolutely nothing is done then payouts or retirement age will need to change but if age stays the same the payout will still be 2/3 of what it is today. And that's assuming that we keep it self funded versus borrowing to fund it. The only reason nothing would be done is people who assume it will be gone when they retire. Which just so happens to be a right wing talking point since forever. Don't believe the lies. Also keep in mind that a huge portion of the federal debt is in the form of IOUs to the SS trust. Funny how congress will raid the SS trust running up the debt on paper then use that run up to argue we need to cut programs. Edit: The payout apparently will be about 77% of what it is now assuming the trust fund is allowed to be exhausted and the payroll tax cap isn't raised/eliminated. Read more here Raldikuk fucked around with this message at 02:06 on Feb 2, 2019 |
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Feb 2, 2019 02:00
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Staryberry posted:I've listened to plenty of true crime podcasts. Dr. Death was one of the few I wasn't able to stomach the descriptions of the crimes. Dirty John is really good, if you haven't heard the story already. Lmfao, ya the notoriously cheap repair bills of a German luxury car, smart idea TVsVeryOwn posted:How do guns depreciate? I've heard that rednecks are kinda GWM because when they're flush they buy guns and guitars, which supposedly hold resale value better than other durable goods. Many guns are bought for way more than they would ever be worth so once gun mania dies down the market dries up and no one will buy it at an inflated price. There are also many manufacturers that make lovely guns that deteriorate overtime (ie they aren't durable) such as everything Remington makes. There's also the issue that not all gun owners maintain their guns, and if you're not cleaning it and such it will turn to poo poo.
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Feb 6, 2019 18:29
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GamingHyena posted:The money is going into constantly shoving food and drinks in their face every waking moment. This juxtaposed with her justification for the $1000 grocery bill being p good for 5 people (which it isn't terrible but definitely not good) is just  Even tho $200/person isn't terrible the $354.40/person certainly is. And just having a $250/month booze line itself is clearly not modest even if all of the kids are booze hounds too.
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Feb 7, 2019 05:22
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Enchanted Hat posted:
I love the "I'm planning to buy a house, and if I don't take this gigantic risk to get $1,500 now then I will have to wait months to move out!" Sorry son, but you aren't ready to buy a house anyway if $1,500 is make or break and you can't get that saved back up.
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Feb 21, 2019 21:59
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Leperflesh posted:Your hot water tank is going to go from <way too hot for legionnaires> to <too cold for legionnaires> in a few hours. There's basically no risk. It certainly is clean before it enters the bowl... I certainly wouldn't call it clean afterwards though unless you clean your toilet bowl fastidiously. The tank water could be used as well potentially... but I've never seen a tank of a toilet I would want to drink out of.
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Mar 25, 2019 18:16
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GoGoGadgetChris posted:Lol he was specifically talking about the tank. Never drink out of the bowl. I'm a dummy and totally read "tank" as "bowl" in his post lmao; ya in a pinch I would probably be ok with the tank even though mine looks nasty... most likely just mineral deposits tho.
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Mar 25, 2019 18:25
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Inept posted:HR error in your employer's favor. It isn't an HR error, it is a redditor doesn't know how calendars and plan years work error. Looks like his plan year is a normal year of January through December, and he started in June. He set for $5000/"year" where year here is the plan year, which for him only had 6 months remaining which is also the period he needs to make the payments over. Which is why it is around 400 per paycheck instead of month. Even disregarding that he should have seen his error after the second check. As far as FSAs go they are not a scam at all. It is a great way to pay for stuff like childcare pretax. It would be nice for it to act like an HSA where funds carried over and could be invested, but the reason why it isn't is because the incentive is to actually use it for those purposes. Having an expiration on the funds encourages people to actually use their funds up. It can encourage disuse because of that but if you have kids or a chronic issue you can come up with a decent estimate for the minimum you will have to pay and can then set your FSA to reflect that.
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Mar 27, 2019 01:45
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Inept posted:Don't get me wrong, the guy's a dweeb for not noticing that. But accelerating the payments so that they're equivalent to a normal year is stupid as hell, or purposefully done so new employees can accidentally pay the FSA plan's costs when they have to forfeit the unspent money. They didn't accelerate it though. He elected for the max in the 2018 plan year and it divided over the remaining pay periods as it should have. Dude just didn't think about the plan year at all. Many people do want to elect for the max even if it is over 6 months instead of 12 because they have a use for it. Maybe HR could have reached out to confirm if that's what he really wanted, but 5k over 6 months for dependent care is completely believable and probably way below average for most people who work full time and have kids. All of the plan documents would have spelled out the plan year and the use it or lose it nature of the FSA funds and the deadline to use it. If his benefit portal is like mine it even explicitly told him the per paycheck cost he was committing to, tho it is possible it didn't. If he had entered in the per paycheck cost he wanted to pay and it doubled it for him that'd be really lovely, but he says that he input the total amount he wanted. Well he actually wanted to put in 5400 but the system told him 5k was the max so he put that in for the yearly contribution. I feel for the guy for assuming the year was for 12 months from the date of his hire but that isn't how it works anywhere I have seen and by law they have to provide the plan documents that spell it all out.
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Mar 28, 2019 03:34
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howdoesishotweb posted:0% on purchases, not cash advances. Usually the cash advance rate is the standard 20-30+% with NO grace period. Before the 08 crash I would get 0% cash advance offers all of the time...seems like they learned from that period and the cash advance limits are low along with usuorus rates
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Apr 1, 2019 20:35
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DaveSauce posted:Are you SURE that's cash advance, and not balance transfer? I've only had credit cards since around 2003 or so, but the cash advance rate has always been ridiculously high and interest starts accruing the day you take the advance (rather than waiting until the end of the billing cycle). Yeah, it was specifically for cash advances. You still had to pay whatever the origination fee was for it, but still a promo rate. I actually used the trick the redditor was thinking about; used a cash advance check to get a 0% cash advance to pay for a car. The other benefit here in addition to the low financing costs is that the loan is no longer secured, so failing to pay the credit card company doesn't result in a repossession, which is nice; especially if you run into some unforeseen issues like the world economy melting down. But now the max cash advance limit I have even seen for my cards is like $500 even with purchase limits in the 5 figure range.
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Apr 1, 2019 22:23
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Krispy Wafer posted:People like Ramsey are always going to be weird. There’s a consumer affairs/budget guy named Clark Howard who has great advice, but is cheap to a fault. Not only do they not dry clean the clothes, but there's a very good chance that it wouldn't even hit the sales floor; at least not at the store they dropped it off at. Assuming he actually did this and was able to get the same pieces back, all he did was have his clothes mingle in with all of the other donated clothes and stuff for a while. And having worked in the processing section let me just tell you that there is usually a very strong and consistent smell of piss.
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Apr 11, 2019 23:01
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Ixian posted:Actually, he lost at BWM roulette in a big way since he can't declare bankruptcy without self-reporting, which even the kneecapped IRS of today will notice. And who knows how much he actually owed... he may have been overwithheld all of those 16 years and was due refunds each of them lol A bit odd he is being told he needs all 20 years though... looking online for Ch 7 your most recent is usually required and for Ch 13 usually last 4...
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Apr 18, 2019 00:37
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Motronic posted:My [24M] girlfriend [23F] wants to move in together, but she is terrible with money and this has me worried about my own finances. Relationships I don't get why he would start with the assumption that she pays 200 and he pays 1200... if they make about equal money why not assume she contributes half? Sounds like they'd be able to make it work assuming she was ok with paying half.. and if not well the problem solves itself. If he were making substantially more I could see an uneven split, but here it just doesn't make sense.
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Apr 23, 2019 00:03
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GoGoGadgetChris posted:If self-post exceptions can be made for terrible things you did, I will offer this cautionary tale to Stay Away From Financial Advisers My math says this works out to annualized returns of 1.05% lmfao. Good thing you got that actively managed to eek that out; would have been terrible to have it in a s&p index fund over that same period to earn 12% per year.
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Apr 24, 2019 22:38
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GoGoGadgetChris posted:Everyone should know what just went down in this absolute historic trainwreck of a derby Was his mother a mudder?
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May 5, 2019 01:33
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Krispy Wafer posted:Yes, the blog makes fun of style, which can be subjective, but most of these homes are also shoddily built. So it’s poking fun at both mismatched windows and structural issues that shouldn’t be occurring in a 10 year old million dollar home. My favorite part was where he couldn't get anyone to sign off on his plans which included putting in an outlet like every 2 feet so he decided to earn his PE license so he could sign off on his own documents. That is some serious dedication to creating a fire trap. Bonus points that he melted some siding with a grill.
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May 10, 2019 01:08
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Cacafuego posted:Crosspost: Is dealer mark just the markup? Cuz goddamn
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May 11, 2019 18:40
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WarMECH posted:I like how literally dozens of Disney princesses exist and this tattoo with a running theme features the only one without legs. Would explain her look of abject horror at least
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May 29, 2019 03:35
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uvar posted:Yeah, that's the best BWM part Assuming a few million is 2 million and setting his time horizon as 7 years would require it to be gaining 35% per year...not very likely lol and of course doesn't take into account him drawing it down to live off of. The sad thing is he could be set up for a super cushy life... 18 making 50k plus bennies...250k trust fund.... but of course he wants to piss it away doing literally nothing. I would put money on being a stoner too because that's just a lack of motivation.
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Jun 30, 2019 03:23
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Thesaurus posted:My favorite part is the contrast between highs and lows. Only $40/month on phones! The buried lede on that is they both have work pay for their phones so the $40/mo is for an "emergency" phone... which is about what I pay for my actual phone plan lmfao
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Jul 9, 2019 20:52
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Shipon posted:i'm talking about the people who choose to invest in a specific industry they want to boost but everyone tells them to just put that money in some broad index fund. isn't that supposed to be the entire point of the market, that you can choose to put your money towards what you believe is a good idea and think will succeed? Most people investing on these here forums are doing so with the goal of retirment in mind. They're trying to find a relatively safe place to store money over the long haul to build a nest egg. Total market index funds are the absolute best vehicle for this. It is a bet on the US economy essentially (for US equity total market)...so if you're feeling it is immoral to invest there then it would also be immoral to work for any traded company (which might be your belief...) What you're talking about with trying to invest in new companies and industries is what people like venture capitalists do.... but those are peeps with 10s of millions to billions. For your average joe there's no amount they can invest that would be meaningful for a company or industry. And if they tried they would be creating huge risks for themselves by not diversifying. So yeah it will get a ton of pushback especially if they state their goal is something like retirement. If your goal is to gamble I'm sure people will be fine with it.
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Jul 10, 2019 00:04
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untzthatshit posted:I've been following this little hometown hero's BWM saga for a while now and it looks like the SEC is finally coming after him. "Self generating money machine" is a lot like a perpetual motion device, as smart as you think you are you're probably not the genius that's finally figured it out. Suite 420? Nice
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Aug 30, 2019 02:50
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DaveSauce posted:Yeah I saw this bullshit yesterday and it pissed me off. The whole argument these days is, "well you have to be responsible and shop around!" Well that's worth jack poo poo, and now there's proof. The thing is that it has always been bullshit anyway. Maybe for out patient stuff it could work; but never would it work for emergencies. I remember 15 years ago I had to go to the hospital for an asthma attack. My parents called 911 and an ambulance came and hauled me to a hospital. Come to find out the ambulance company used was out of network and I was on the hook for around $5k (the oxygen & albuterol the administered was about $1k lmfao) and the lip service I got back was that I should have used an in network ambulance. Which of course is what most sane people do when they call 911 for a medical emergency. There's simply no way to shop around for that sort of thing and even if you knew which company was in network prior to calling, you're not going to be able to choose the ambulance they send. And even if you could every second counts so you're risking death to do so. Phanatic posted:They file for bankruptcy for debt that *includes* medical bills. It would be just as accurate to say "over 500,000 families in the US file for bankruptcy every year due to car loans." Or "mortgages." Or whatever other single form of debt is part of the bucket. Call me crazy but I think this number should be 0. The statistic might be sensationalized a bit but there is still an underlying truth that people are being hit hard for a basic human need that should be provided to all.
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Aug 30, 2019 21:00
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GoGoGadgetChris posted:Hey guys do you think that in any way, self-driving cars, or the lack thereof, could be considered Bad With Money? please feel free to let this conversation topic grow organically Looking at Uber's and Tesla's financial statements suggest that yes, it is very bad with money. Tho in this case it is other people's money so maybe it gets a pass
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Sep 3, 2019 21:19
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howdoesishotweb posted:
This DNA testing stuff is bananas. For the longest time I thought it was like some $10 thing people did...so still stupid overall but what's the harm. But that poo poo starts at $99... like wtf My favorite are the idiot boomers that get them as christmas gifts. I haven't received a real gift in years (which is fine I'm an adult) but then they decide to drop almost a grand on stupid dna tests.
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Sep 18, 2019 16:27
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H110Hawk posted:There are a dozen different loan types, all with various features, and only a small subset of them get pslf because apparently the DOEdu are morons. There are really only three ways I can think of that would result in forgiveness not being available if they're actually on an income driven plan for federal loans 1) their income is high enough such that their payments equal the standard 10 year repayment or such that it is paid off prior to the forgiveness period. For undergrad loans forgiveness is at 20 years and grad at 25 years of qualifying payments (which includes the case where your required payment is $0). 2) they weren't actually ever on an IDR or forgot to recertify 3) they don't consider it forgiveness because they would owe taxes on it PSLF is an additional option on an IDR in specific cases that allow forgiveness at 10 years of qualifying payments and it isn't taxable. Raldikuk fucked around with this message at 06:03 on Sep 21, 2019 |
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Sep 21, 2019 06:00
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The DoE is the dept of energy... the ED is the dept of education :pedantic:
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Sep 21, 2019 15:10
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tater_salad posted:I Dunno what the relocation has to do with a truck unless he's moving across the pond or something. At that point I would discuss with the company costs to sell it and walk out with nothing. Well you see he lives in an area where 4x4 is useful thus spending $64k on a truck made sense. Now he will be moving to an area where it doesn't. Which of course means it makes perfect sense to contemplate taking an additional 10k loss rather than riding it out lol I totally get why people want 4x4 in snowy areas and poo poo but I will never understand why they need to buy something new and expensive to do so.
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Sep 25, 2019 20:43
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