|
Zero One posted:My new employer automatically put me into their 401k, how much can I sue them for? So it's going to cost him more in legal fees than the amount of the contribution. Classic. Are there opt-out forms for auto-enrollment situations like this so that the passive people get enrolled and the idiots can turn down participation?
|
#
?
Mar 5, 2016 16:18
|
|
|
|
| # ? Apr 27, 2024 09:47 |
|
|
I assume so... my company does everything via web portal. You'd just go to the 401k page and opt-out.
|
|
#
?
Mar 5, 2016 16:30
|
|
|
Step 3 should always be the first step:Not crazy reddit guy posted:Step 3 is to again, relax. Losing this job for having to wait a month for what -- less than $250? -- isn't worth it. Stop being a drama queen, clerical errors and the like happen from time to time. We take a deep breath and we deal with it.
|
|
#
?
Mar 5, 2016 16:36
|
|
|
Mantle posted:Did you also refuse a raise because it would put you into a new tax bracket That said, I wish I were getting a raise at work... Edit to add: My roommate says he doesn't believe in the stock market after last year's slump and the start of this year and plans to buy property to let it appreciate. We are in a housing bubble in Canada and he wants to get in on he action because "my father bought a house for $50,000 thirty years ago and now it's worth half a million dollars!" Olive Branch fucked around with this message at 17:44 on Mar 5, 2016 |
|
#
?
Mar 5, 2016 17:27
|
|
|
Thirty seconds of googling shows me that if you invested $50,000.00 in 1983, it would be worth $1,330,430.69 in 2013. How much do stocks cost to upkeep on average?
|
|
#
?
Mar 5, 2016 19:27
|
|
|
Aliquid posted:Thirty seconds of googling shows me that if you invested $50,000.00 in 1983, it would be worth $1,330,430.69 in 2013. My math is way, way off. OBAMNA PHONE fucked around with this message at 00:15 on Mar 7, 2016 |
|
#
?
Mar 5, 2016 19:38
|
|
|
Olive Branch posted:Edit to add: My roommate says he doesn't believe in the stock market after last year's slump and the start of this year and plans to buy property to let it appreciate. We are in a housing bubble in Canada and he wants to get in on he action because "my father bought a house for $50,000 thirty years ago and now it's worth half a million dollars!" Most of New Zealand did this until the Kiwisaver was introduced (401K equivalent). Low inflation or deflation (which is what we're heading into now globally) is the worst time to buy property as an investment. Might as well buy gold and watch the price fall as the maintenance costs are less. The lending rules in New Zealand have taken the pressure off the Auckland house market somewhat (not completely). Now there are people waiting for the housing bubble in Australia and Canada to collapse, along with all of South Africa's economy. There's a pretty drat good chance of a major recession. http://www.cnbc.com/2016/03/04/keep-buying-despite-40-chance-of-recession-pro.html
|
|
#
?
Mar 5, 2016 19:44
|
|
|
BraveUlysses posted:Your math is way, way off. 50k invested with no additional investment at a 4% interest rate would yield about 187k after 33 years (assuming no dividends). The S&P 500, which is a generally good historical proxy for "invested in the stock market," has not returned 4% annually. There are calculators available for this sort of thing, which use historical data. If we assume that you invested $50k US in October 1983 (the worst-case scenario), and pulled your money in February of this year, the value of the stocks alone with no dividends reinvested would be about $522,000. You'd of course have to pay long-term cap gains, but you would on the sale of a house, too. Reinvesting dividends in the best case, such as a tax-deferred or nontaxable account, would get you to roughly $1.18M. If you had chosen any other month to start, you could do substantially better, and it wouldn't be hard to hit $1.5M in total. In every case, the stock market does better than the house. Houses are great places to live, and renting them out can be an OK business. But, viewed as a pure investment, they're middling at best.
|
|
#
?
Mar 5, 2016 20:20
|
|
|
BraveUlysses posted:Your math is way, way off. 50k invested with no additional investment at a 4% interest rate would yield about 187k after 33 years (assuming no dividends).
|
|
#
?
Mar 5, 2016 20:24
|
|
|
On the other hand, houses give the constant dividend of being able to live in them, and are much easier to buy leveraged than stocks are
|
|
#
?
Mar 5, 2016 20:38
|
|
|
BraveUlysses posted:Your math is way, way off. 50k invested with no additional investment at a 4% interest rate would yield about 187k after 33 years (assuming no dividends). god drat son, sit down
|
|
#
?
Mar 5, 2016 21:14
|
|
|
Series DD Funding posted:On the other hand, houses give the constant dividend of being able to live in them, and are much easier to buy leveraged than stocks are Buying stocks on leverage is scarily easy actually. Houses don't have margin calls though!
|
|
#
?
Mar 6, 2016 00:02
|
|
|
baquerd posted:Buying stocks on leverage is scarily easy actually. Houses don't have margin calls though!
|
|
#
?
Mar 6, 2016 00:43
|
|
|
If you have a mortgage the bank can margin call you if the value of your property decreases significantly.
|
|
#
?
Mar 6, 2016 01:10
|
|
|
Series DD Funding posted:On the other hand, houses give the constant dividend of being able to live in them, and are much easier to buy leveraged than stocks are On a long enough term sure, if one is willing to forego mobility and can remain solvent enough to weather economic downturns. In Canada the opportunity cost is generally not worth it because the imputed rents are insane. The return on capital of houses in some areas is maybe a couple percent a year before taxes because idiot amateur landlords speculating on RE don't realize they're subsidizing their tenants. There's a thread somewhere dedicated to the Canadian real estate bubble. They've been stiff-arming the GFC as hard as they can and the pressure has been building ever since. Canada is bad with money.
|
|
#
?
Mar 6, 2016 03:01
|
|
|
cowofwar posted:If you have a mortgage the bank can margin call you if the value of your property decreases significantly. I've never heard of that, and a quick googling brings up an article mentioning Singapore. Is this really a thing in the US?
|
|
#
?
Mar 6, 2016 05:52
|
|
|
Pretty much anywhere, if the value of the property being mortgaged (be it real estate, a ship, whatever) falls significantly below the value of the outstanding mortgage, the lender can just go "welp, gently caress it, cancelling your loan. Pay up!" The idea being that the property is securing the mortgage. If the property is worth less than the mortgage, then the mortgage can be invalidated.
|
|
#
?
Mar 6, 2016 06:14
|
|
|
Ah yes, the bold strategy of forcing an immediate default to potentially avoid a future, smaller default. I also heard that China's going to call in our debt any day now... Lenders can generally only do this if the property is changing hands (ie you sold it), at risk of being taken by the state due to non payment of taxes, or if you've already defaulted on payments. So basically all the situations you'd already expect.
|
|
#
?
Mar 6, 2016 06:35
|
|
|
FrozenVent posted:Pretty much anywhere, if the value of the property being mortgaged (be it real estate, a ship, whatever) falls significantly below the value of the outstanding mortgage, the lender can just go "welp, gently caress it, cancelling your loan. Pay up!" I've never heard of this and rather than reading my mortgage contract to prove you wrong I'll just ask for some examples Also there's absolutely zero reason a bank would ever do this, the more I think about it the sillier it is.
|
|
#
?
Mar 6, 2016 14:01
|
|
|
What would be the incentive for a bank to do such a thing, even if it were in mortgage contracts? Sounds like an excellent way for the bank to end up tied up in court AND get stuck with a bunch of foreclosed homes. Additionally, the bank wouldn't know if the value of the place changed any unless it were appraised by either the county/township or if you paid out of pocket for an appraisal. That just seems like too much work for what essentially boils down to: "you signed for this, you owe this on time or we'll take it back from you after at least a few months of non-payment.."
|
|
#
?
Mar 6, 2016 14:12
|
|
|
baquerd posted:I've never heard of that, and a quick googling brings up an article mentioning Singapore. Is this really a thing in the US? Apparently it's a thing in Canada with Toronto Dominion loans. I haven't found a primary source online though. http://www.greaterfool.ca/2014/01/22/surprise-8/ What lenders can and cannot do all depends on the specific lending agreement. I don't think any generalization can be made here. E: Here is an excerpt of the clauses http://m.mortgagebrokernews.ca/news/td-mortgage-clause-change-176155.aspx Mantle fucked around with this message at 21:43 on Mar 6, 2016 |
|
#
?
Mar 6, 2016 20:06
|
|
|
mastershakeman posted:I've never heard of this and rather than reading my mortgage contract to prove you wrong I'll just ask for some examples I remember going through the terms of my mortgage with my lawyer. There's one clause that stood out that actually says the bank can sell my house at any time without a reason. Banks wouldn't do that without a reason but it saves them from having to give justifications for selling it and a big pissing match. Locally banks tell people to sell to avoid putting mortgagee sale so they don't attract people like me who low ball offers.
|
|
#
?
Mar 6, 2016 21:51
|
|
|
pig slut lisa posted:I was just reviewing an appraisal of a property that has some light equestrian use going on and this stood out to me: I hear radio ads for https://www.williamsauction.com/ and now they are advertising auctioning your horse farm to buy a different horse farm. Their previous claim to fame was selling a town in Wyoming that consists of a convinence store / post office.
|
|
#
?
Mar 6, 2016 22:20
|
|
|
My favorite BWM horsey thing has to be "natural horsemanship", specifically as sold by Pat Parelli. He's a trainer whose idea is that buying his special poo poo will make your horse actually listen to you. You can even pay a hundred thousand dollars and become a Parelli Certified Trainer/Parelli Protege/Savvy Horsemanship blahblahblah to sucker people's money yourself. Pyramid scheme + horses. he professional horse world has seen through him for the most part, but he still ropes in lots of naive young people looking for a quick fix to their horse's issues. And then their horses are unsellable because the new owner has to "de-Parellize" them so they can actually do stuff with them. He's inspired other snake oil salesman like Clinton Anderson and GaWaNi Pony Boy (who fell out of favor when people realized that he's not actually Native American) but none have had quite the success that him and his idiot horse-abusing wife have. http://www.parelli.com/ He ultimately went too far with Parelli University - For-Profit college + pyramid scheme + horses. After that I haven't seen much of him. http://files.parelli.com/Apprenticeship_App.pdf (check page 4) I can't really do justice to just how crazy some of his poo poo is though. Some horse forum threads for those of you seeking stories of equuity gone wrong. http://www.chronofhorse.com/forum/showthread.php?179040-For-100-000-you-TOO-can-become-a-Parelli-Protege http://www.chronofhorse.com/forum/showthread.php?359787-Parelli-University http://www.chronofhorse.com/forum/showthread.php?94653-Get-ready-Parelli-thread-) http://www.chronofhorse.com/forum/showthread.php?299815-Parelli-s-million
|
|
#
?
Mar 6, 2016 22:30
|
|
|
Devian666 posted:I remember going through the terms of my mortgage with my lawyer. There's one clause that stood out that actually says the bank can sell my house at any time without a reason. Banks wouldn't do that without a reason but it saves them from having to give justifications for selling it and a big pissing match. They can sell your mortgage to other banks and will, not sell your house. In Canada it's different since they don't have 30 year mortgages like we do here in the USA. I spent 3+ years as a foreclosure lawyer in Illinois and this doesn't exist here. For starters, the bank isn't in title mastershakeman fucked around with this message at 00:03 on Mar 7, 2016 |
|
#
?
Mar 7, 2016 00:01
|
|
|
mastershakeman posted:They can sell your mortgage to other banks and will, not sell your house. In Canada it's different since they don't have 30 year mortgages like we do here in the USA. I'm not in the US. That and I knew you were involved in the legal side of things so it's good to get your feedback. I have no doubt the bank would sell my mortgage on once the fixed rate ends. Reading the mortgage documents was an eye opener for me.
|
|
#
?
Mar 7, 2016 01:34
|
|
|
froglet posted:Horses really are a special kind of madness. https://www.reddit.com/r/legaladvice/comments/493mmp/ab_update_horse_training_client_is_now/ posted:So this morning she insisted that I come into the farm this weekend and show her what her horses can do. I do not have time for that, nor is it anywhere in our agreement that I have to prove anything or get to a specific point with any horses. The agreement is that I will work x amount of horses for x amount of days for x price, which I did.
|
|
#
?
Mar 7, 2016 03:05
|
|
|
Youth Decay posted:My favorite BWM horsey thing has to be "natural horsemanship", specifically as sold by Pat Parelli. He's a trainer whose idea is that buying his special poo poo will make your horse actually listen to you. You can even pay a hundred thousand dollars and become a Parelli Certified Trainer/Parelli Protege/Savvy Horsemanship blahblahblah to sucker people's money yourself. Pyramid scheme + horses. he professional horse world has seen through him for the most part, but he still ropes in lots of naive young people looking for a quick fix to their horse's issues. And then their horses are unsellable because the new owner has to "de-Parellize" them so they can actually do stuff with them. my post from the last page Aliquid posted:My mom does accounting for a woman who owns a horse ranch and is a level 5 Parelli trainer, whatever the gently caress that is. She is terrible at finances and is slowly losing control, especially to expenses incurred by her four twentysomething children. She has a beautiful Hill Country property well within commuting distance from Austin, but has built so much horse poo poo (training areas, plus a giant 6000sqft covered steel arena) on the property that she can't sell it to get out of the biz. She owns a goddamn valley on 9 acres with an amazing mansion and a river but nobody will pay more than $550,000 because it has become so specialized in the last five years. It's a goddamn pyramid scheme and it's hilarious. Thanks so much for the links; I've never done any independent research, just stuff my mom says. edit: quote:http://files.parelli.com/Apprenticeship_App.pdf (check page 4) no seriously, check page four. lmao i say swears online fucked around with this message at 03:47 on Mar 7, 2016 |
|
#
?
Mar 7, 2016 03:23
|
|
|
Aliquid posted:no seriously, check page four. lmao https://www.youtube.com/watch?v=a231RLKyfPw
|
|
#
?
Mar 7, 2016 05:38
|
|
|
Aliquid posted:It's a goddamn pyramid scheme and it's hilarious. Thanks so much for the links; I've never done any independent research, just stuff my mom says. Page four, best page. I am amazed at how horse people can keep escalating financial disasters. Devian666 fucked around with this message at 06:56 on Mar 7, 2016 |
|
#
?
Mar 7, 2016 06:53
|
|
|
Aliquid posted:my post from the last page Holy hell charging people $1000+/month to work your ranch is the best with money thing this thread has ever seen.
|
|
#
?
Mar 7, 2016 12:31
|
|
|
Aliquid posted:
holy poo poo I don't know what I was expecting but it surpassed whatever expectations I would have had anyway
|
|
#
?
Mar 7, 2016 14:01
|
|
|
Aliquid posted:no seriously, check page four. lmao Fuuuuuuuuck
|
|
#
?
Mar 7, 2016 15:42
|
|
|
That is cult-level GWM.
|
|
#
?
Mar 7, 2016 16:47
|
|
|
Horsechat for president 2016
|
|
#
?
Mar 7, 2016 17:07
|
|
|
Renegret posted:holy poo poo HAHAHAHAHAHAHA Gold. I guess it's like "This is a ponzi scheme" schemes with which so many bitcoiners were tricked. You make it so blindingly obvious that you filter anyone who is going to wisen up to your scheme.
|
|
#
?
Mar 7, 2016 18:08
|
|
|
Uhh excuse me it's not a pyramid scheme, it's a "wealth triangle". Pyramid implies a stable and long lasting foundation
|
|
#
?
Mar 7, 2016 19:08
|
|
|
The pyramids were built by slaves. If you don't realize how much of a good idea this is, you're a slave to not wanting success and riches. Prove me wrong. 
|
|
#
?
Mar 7, 2016 19:46
|
|
|
I didn't know pyramid schemes still put actual pyramid diagrams in their literature. I cherished my ignorance on that one.
|
|
#
?
Mar 7, 2016 20:15
|
|
|
|
| # ? Apr 27, 2024 09:47 |
|
|
Oxxidation posted:I didn't know pyramid schemes still put actual pyramid diagrams in their literature. I cherished my ignorance on that one. I got suckered into a pitch to sell water filters. As they started drawing their corporate structure on the chalkboard, I pointed out it looked like a pyramid. I was then told all companies look like that. Which is kind of true. So it's not the pyramid part that's the problem.
|
|
#
?
Mar 7, 2016 20:25
|
|
