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corker2k posted:I am still confused about what this company is all about. Maybe that's the point? If I get baffled enough, I will sign anything? You're supposed to be so impressed with rented Bentleys that you'll give them $500 in the hopes that you will one day be able to afford to rent your own.
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Jun 22, 2013 02:02
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Pillowpants posted:~$3600 in payments on debt a month (two mortgages, two cars, six student loans, and 8 credit cards) I'm surprised that's the record. High incomes + banks willing to provide incredible amounts of leverage (until a few years ago) can make for some truly eye-popping debt service amounts.
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Jul 1, 2013 14:08
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Persona non grata posted:If we have to teach people "financial literacy" we can safely do away with the notion that people are the best judges of what's best for them and that the market is merely bending to their will. We need to do no such thing. Providing financial literacy as part of the basic curriculum no more implies that people aren't the best judges of what's best for them than needing to teach about nutrition implies people aren't qualified to decide what they eat.
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Jul 26, 2013 04:42
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Rexfumado posted:<$1000/month I save now Does this include your 401K and roth IRA? if so, you're not saving enough. As others have said, you should be able to max both out in your situation. Other than that I see no problem living the yuppie lifestyle if you've got the income to back it up.
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Aug 29, 2013 21:40
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I would guess that he simply ignored the problem and hoped it would go away, thus giving the creditor a defult judgement and default garnishment order. It very easy to get hosed hard by the courts if you don't adequately respond to proceedings against you.
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Dec 7, 2013 05:19
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kitten smoothie posted:Am I correctly understanding that what he wound up doing was buying a vehicle on what essentially amounts to an interest-only loan, with a big balloon payment? His "down payment" was prepayment toward the balloon payment at the end, but he still was just paying interest every month? No, it's more like a long-term conventional amortizing loan with a balloon payment due half way through. It's set up to be similar to a lease - the balloon payment reduces the monthly payments to less than what they would be for a conventional loan. The agreement also says that the dealer will buy back the car for the balloon price, so instead of making the balloon payment, you can turn the car in and get another one. His down payment did serve as a down payment (cap cost reduction in lease terms), but the F&I guy screwed him hard on the sales price, so both his monthly payments and balloon payment were high.
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Dec 9, 2013 13:56
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melon cat posted:
I'm sure it gets used as a rationalization, too, but it's actually pretty common for employers to lay out minimum car standards for people whose jobs have lots of client interaction away from their office. I know our sales reps are required to have large-ish 4-door cars, maximum of 5 years old and 100K miles. So unsurprisingly, to stay compliant most sales reps simply buy a new car every 5 years or lease a new one every 3/4 years.
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Jan 9, 2014 16:27
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melon cat posted:Definitely. And if your employer is so hung up on their employees having nice, shiny cars when visiting clients the company should cover most, if not all, of the costs of owning that vehicle. Most companies do exactly this if they're concerned about the image their employees' cars present. Sure, "car allowances" are also common, but it's just plain old taxable income by a different name.
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Jan 10, 2014 00:48
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Volmarias posted:If the car benefit is reported as a taxable perk or reimbursement you have to pay taxes on it. For example, if your company pays for a cellphone and plan that you also use for personal use, that's taxable and needs to be reported. So, if you get some sort of car allowance, and it gets reported, that could cost you even though you don't get it. It would be a pretty weird scenario though. Car allowances are always taxable, so it's all just income, but people tend to go along with employer's car standards more easily if they think they're getting help for it. $60K sales job w/ $6k car allowance is EXACTLY the same as a $66K job with no allowance. Same taxes, same take home.
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Jan 10, 2014 03:52
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Jeffrey posted:Well I assume if you only buy a $4k car then you can't keep the difference. You're not likely to find a $4K car that meets the criteria, but yes, you get to keep the difference if you don't spend it all.
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Jan 10, 2014 05:13
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gvibes posted:A friend of my mine recently got married. He and his wife have been living together for a while now. I am guessing they each make about $150k, $300k a year combined. They wouldn't be the first couple to act like they make that kind of money while actually pulling in substantially less.
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Jan 21, 2014 04:12
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PowFu posted:My view of him changed however when he told me he wanted to purchase a house within the year. He was looking at listings that were in the 600-800k range. I asked him why he was in such a hurry and he replied "Real estate ONLY GOES UP. I want to stop throwing away my money as rent. I must buy now or the prices will be too much and I wont be able to sell it at a good profit". I'm not too worried though, I'm sure financial institutions will be responsible enough to refuse him a mortgage and crush his dreams before they ruin his life. They will say no right? Considering that P&I alone on a 600K mortgage exceeds his gross income and it isn't 2007 anymore, yes, they will say no.
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Feb 27, 2014 17:58
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tuyop posted:I'd rather say, "Yeah, you can be a millionaire doing whatever job you want, but by the time you get there you won't give a gently caress what your net worth is because you'll have found ways to live a meaningful existence without ~things~. YOLO, guys, don't waste this one chance chasing the needle of bullshit plastic noisemakers." Eh, not everyone is going to find happiness in an ascetic life, either. But everyone can benefit from realizing how quickly carrying a balance on a 29.9% credit card will gently caress you over - especially 18 year olds who will soon be deciding to borrow money on those terms or not. SlapActionJackson fucked around with this message at 19:01 on Apr 15, 2014 |
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Apr 15, 2014 18:40
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Guinness posted:I think you mean ascetic. An aesthetic life would kind of imply one of consumption and luxury. Yes, of course. That's what I get for not proofreading
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Apr 15, 2014 19:01
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It may seem like clips from a comedy show, but they're actually from a wedding documentary Wedding flowers: https://www.youtube.com/watch?v=6ff13zZ0h0k Wedding cake: https://www.youtube.com/watch?v=gimiDBAK2wA
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May 6, 2014 18:09
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Weatherman posted:Why can't a key just be a thin strip of hard metal that you insert into the lock and twist to open? Why the gently caress does the key need to contain microchips or wires or whatever? Is all of the US a high-crime area or something? Because cars that use that style of keys/locks can be stolen by an 8-year-old with a screwdriver. Cars that use fully modern chip-key authentication are pretty much impervious to anything short of a flat-bed tow truck. The 90s kinda sucked at this as manufacturers figured out how to implement these more secure systems. But now that they have, it really is a huge boon to car security.
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May 29, 2014 15:57
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rrrrrrrrrrrt posted:Does this person live somewhere where tap water isn't potable or something? More likely it's just not palatable. A water cooler is a hell of a lot cheaper and healthier than the other common way to deal with bad-tasting tap water - a constant soda habit.
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May 29, 2014 19:30
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Jeffrey posted:There is precedent in Cyprus, I'm sure some guy who took his money out the week before feels awfully vindicated. Granted it'd take a lot greater of a crisis for it to happen in the US, but Not the same at all. The Cyprus government literally didn't have the euros to make good and couldn't make them out of thin air. The US government has that latter option and would absolutely use it in a bank crisis severe enough.
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Jun 2, 2014 22:24
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LLCoolJD posted:(I did have a stable income, some savings, plus I had been paying utilities and significant ($800/month) student loans for years without late payments.). Of all those things, only the student loans had any impact on your credit score.
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Jun 4, 2014 02:52
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Rick Rickshaw posted:Hmm....you sure? My cell phone and Internet companies show as revolving creditors on my credit report. Yes. They will report you as delinquent if you gently caress up and pay late or stiff them, but they do not generally report as trade lines when you're paying as agreed. From: http://www.bankrate.com/brm/news/DrDon/20070320_credit_score_report_a1.asp Rod Griffin, the senior manager of public education at Experian posted:Utility companies, cellular telephone service providers and cable television providers do not typically report information to the credit reporting companies. In fact, some states prohibit utility providers from reporting account payment information.
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Jun 4, 2014 04:55
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Real private universities are organized as non-profits because 1) their primary mission is education and 2) there are significant tax benefits for doing so.
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Jul 16, 2014 19:52
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FrozenVent posted:Goddamn I miss those 10k tax returns though. Then have I got a deal for you! Mail me $833.33 every month, and I'll send you $10k every year.
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Aug 6, 2014 21:15
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Cuddlebottom posted:Leasing a car equal to your gross salary, when you work doing piecework, is bad with money. Using an M3 as a delivery vehicle is terrible with money no matter your salary.
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Aug 17, 2014 16:24
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It's really no more weird than negotiating for salary - You and your employer are dickering over how much labor will be exchanged for how much money. And clearly you understand that vacation days have value since you're annoyed at having so few of them.
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Sep 4, 2014 20:33
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Antifreeze Head posted:Pay-to-pay is amongst the biggest piles of horseshit because not everyone wants to or is able to set everything to autopay and go without a paper statement. I don't really need a paper statement, but until the place issues me a credit for not sending me a paper statement, they can keep forking over the postage. You do realize it's purely a matter of semantics whether it's an $8 charge for paper statements vs an $8 discount for using autopay?
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Sep 11, 2014 13:56
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Devian666 posted:What I'm think is that he needs the $25k for a margin call. It's a situation where he may have to exit positions and lose money in the process. It could be the scenario that's got him flipping out. Then he's an extra extra special idiot. When you get margin called you usually must meet the call the next business day or your broker will start liquidating you. And meeting the call means guaranteed funds in your brokerage account, not "check is in the mail" or "ACH transfer is in progress". You simply can't get good funds that quickly from a 401k/credit card loan even if you have the available credit.
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Sep 24, 2014 03:40
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Blackjack2000 posted:I imagine that if you have a traditional 401k, the interest portion of loan could be taken out pre-tax so it's not taxed twice. I don't know if this occurs though. No. IRS rules say loan repayments must be post-tax.
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Sep 26, 2014 05:35
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No reason to wait for LTCG treatment. RSU vesting is taxed as ordinary income so you might as well sell them right away.
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Dec 11, 2014 19:07
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HonorableTB posted:Is it taxed at my ordinary tax bracket, or is it closer to the bonus tax which is a ludicrous 40%? There's no such thing as "bonus tax". Paychecks with large bonuses have a higher withholding rate applied because of the rules on calculating withholding, but the tax owed is just your ordinary marginal rate. Jeffrey of YOSPOS posted:Oh I learned something today. Which year is the income in, the grant year or the vesting year? It makes perfect sense for the principle value but not for gains after that. Vesting year. And yes, any change in value after the vesting is treated as capital gains, not income.
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Dec 11, 2014 19:23
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Magic Underwear posted:I'm more mad at the kid getting an A6 at age 15. At least it's not an RS6.
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Jan 27, 2015 02:22
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EugeneJ posted:https://www.rushcard.com/ That actually doesn't seem like a bad deal for someone who can't get a basic checking account. $4 up front and $8 month gets you a serviceable bank account substitute offering a debit card and a network of free ATMs. What am I missing?
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Jan 30, 2015 20:20
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onemillionzombies posted:This talk about how many people are going to be hosed in retirement has me thinking. Considering 4% is considered to be the "safe withdrawal rate" for retirement funds, you'd better aim for more than 8x your salary. 25x would give you complete income replacement, though that is probably overkill for most people. 8x only replaces about 1/3 of your salary in retirement so you'd be depending pretty heavily on social security and still taking a lifestyle cut.
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Feb 11, 2015 05:58
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Nail Rat posted:There may be zoning problems with that. If not I'd be inclined to agree. Seriously, you can't even build one of those in Houston. There's no hope in any area that's even vaguely urban or suburban.
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Feb 21, 2015 21:58
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Mercury Ballistic posted:My favorite: top quintile of families have on average 52 days of liquid savings. There's no way that can be true... and sure enough that report redefines "liquid savings" as cash and equivalents held in nonretirement accounts. Which is a considerably more narrow definition than what liquid assets usually means.
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Feb 28, 2015 17:50
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pig slut lisa posted:I agree with you, and I don't see the issue with Pew using only non retirement assets for the purposes of that study Not all nonretirement assets count, just nonretirement cash. The issue is that it significantly undercounts the assets readily available to that group they could use to weather financial hardship. They also should have called it "cash savings" rather than "liquid savings" to make it more clear what they meant.
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Feb 28, 2015 18:46
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pig slut lisa posted:What non-cash non-retirement would you like for them to have included? All of the liquid ones? E.g. stocks, bonds, mutual funds held in taxable accounts.
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Feb 28, 2015 19:00
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OneWhoKnows posted:This is one of those rare cases I would advocate suing. Doesn't do you any good if the irresponsible douchebag doesn't have any recoverable assets.
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Apr 1, 2015 18:43
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Pantsmaster Bill posted:In this story: people betting using leverage are surprised when it goes wrong and they lose a lot more than they can afford. When I started this article, I thought for sure there would be people complaining that their "stop loss" order didn't save them. Was not disappointed. The only thing about these episodes that surprises me is how easy it was/is for any joe six-pack to get levered up 100x. That's nuts.
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Apr 26, 2015 19:01
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High Lord Elbow posted:I want to throw the poors in a wood chipper on HBO Live. You could charge people to watch on pay per view AND it would decrease entitlement spending. Good with money.
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May 2, 2015 01:25
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Suspicious Lump posted:It's all jibberish now. Anyone quote or screenshot? The gist was that he was going to take his last $10K and flee the country, with no plan beyond: go to airport -> get on plane.
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Jul 23, 2015 06:06
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