Bad With Money 2018: When I die, bury me in the blockchain.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

«‹›2 »

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

I�m Renting a Dog?

quote:

After her family�s shiba inu died of cancer, Dawn Sabins decided to surprise her 7-year-old son with a new puppy. In March 2015, she dropped into a San Diego-area pet store looking for an English bulldog. She walked out with a golden retriever.

That wasn�t so strange, even if $2,400 was more than she�d intended to spend. (There�s a reason pet stores put puppies in the window.) The odd part came a few weeks later, when she and her husband were going over their credit reports and saw a $5,800 charge from a company they�d never heard of.

quote:

The Sabins had bought their new dog, Tucker, with financing offered at the pet store through a company called Wags Lending, which assigned the contract to an Oceanside, California-based firm that collects on consumer debt.

quote:

�I asked them: �How in the heck can I owe $5,800 when I bought the dog for $2,400?� They told me, �You�re not financing the dog, you�re leasing.� �You mean to tell me I�m renting a dog?� And they were like, �Yeah.� �

Without quite realizing it, the Sabins had agreed to make 34 monthly lease payments of $165.06, after which they had the right to buy the dog for about two months� rent. Miss a payment, and the lender could take back the dog. If Tucker ran away or chased the proverbial fire truck all the way to doggy heaven, the Sabins would be on the hook for an early repayment charge. If they saw the lease through to the end, they would have paid the equivalent of more than 70 percent in annualized interest�nearly twice what most credit card lenders charge.

quote:

One cat lover described buying a Bengal kitten from a breeder in Jacksonville, Florida, at a sticker price of $1,700�then learning they were on the hook for 32 monthly payments of $129, or about $4,100. �They explained to me that not only was this not a loan but a lease in which I would either have to continue making these payments or return the animal,� the customer wrote in a November 2015 complaint. �Also this cat is ruining my credit score.�

quote:

Wunderlich dreamed up Wags Lending in 2013, then used the pet-leasing business to launch an improbable collection of financing vehicles�writing leases against furniture, wedding dresses, hearing aids, and custom auto rims.... In another idea that never reached the market, he explored lease financing for funerals.

�We like niches where we�re dealing with emotional borrowers,� Wunderlich said.

(https://www.bloomberg.com/news/features/2017-03-01/i-m-renting-a-dog)

# ¿ May 2, 2017 16:12

Adbot: ADBOT LOVES YOU

# ¿ Apr 25, 2024 02:31

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

YouTubers Say They Can't Make Money Covering Call of Duty: WWII

quote:

Since March, YouTubers have watched their revenue plummet as advertisers bleed out of the platform. Some videos containing violence, real or fictional, are considered �inappropriate for advertising.� First-person shooter Call of Duty, a massively popular game on YouTube, is no walk in the park. So, the huge community that�s formed around it is getting hit by widespread demonetization.

quote:

PrestigeIsKey, a Call of Duty YouTuber with over a million subscribers, published a video on Sunday about how his channel is struggling with demonetization. �At first,� he said, �I thought this wouldn�t affect gamers because, obviously, video games aren�t real.� Throughout his seven years making CoD content on YouTube, he�d never had an issue until recently. Months ago, when the demonetization crisis was in full swing, his channel suffered enormously because it depicts fictional war.

quote:

Channels as big as PewDiePie and H3H3Productions say they�ve been making way less money in comparison to their earnings from earlier this year.

quote:

For YouTubers like ChaosXSilencer, who�s been making CoD videos for five years, rebranding his channel is out of the question: his fans come for the first-person shooters. Before he carved out a full-time job on YouTube, he ran a Papa Johns in Arkansas and, before now, he�d never had any financial problems making a living on YouTube.

quote:

CoD YouTubers feed their families on this money. It�s their trade. Call of Duty YouTuber 402THUNDER402 doesn�t pity his peers, though.

(http://kotaku.com/youtubers-say-they-cant-make-money-covering-call-of-dut-1794884320)

# ¿ May 4, 2017 02:04

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

That Toronto crack house family is the purest BWM gold, and must be treasured. I loved all of it, especially their decision to bribe a squatter, let a lunatic ram their porch with a Bobcat, and the deus ex machine of a rich Englishman bailing out their idiocy.

Too much gold to quote all of it, but their decisions were so awful I initially thought the first part of this line was serious:

quote:

Desperate, we pimped out our newborn daughter for some modelling gigs...

As the daughter earned $250, she was probably the breadwinner that day.

Light googling reveals the family has begun eating trash: "How to make a family meal out of garbage" http://www.cbc.ca/radio/dnto/puttin...rbage-1.3462830

quote:

Shocked by the statistics, Jheon and her partner decided to make a family dinner made entirely out of food destined for the trash bin.

Their young ones were skeptical at first, saying "Garbage is disgusting!"

# ¿ May 30, 2017 20:52

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

This article isn't humorous but does offer an interesting look at the hopelessness of generational disability and the accompanying poor education leading to bad-with-money.

Real life Dril is scary:

quote:

This month, reality was a $600 electricity bill that included late payments. An additional $350 for the mortgage, $45 for water, $300 for cellphones. Then $98 for cable television, $35 for Internet service, $315 for furniture bought on credit, $35 for car insurance and $60 for life insurance.

Kathy sat with a notepad that said �Live Like Your Life Depends On It� and did the math. Their monthly checks totaled $2,005 � $1,128 less than when the twins received benefits � and bills would consume all of it except $167. There wouldn�t be enough to whittle down her payday loans. Or to settle up with the school for her granddaughter�s cheerleading. Or to pay her lawyer for a divorce from her fourth husband.

quote:

They tumbled inside hours later, and before long, the twins were again screaming, the dogs were again barking, and Bella (4 years old) was stabbing a wall with a five-inch knife that she had somehow gotten a hold of.

"Generations, disabled. A family on the fringes prays for the �right diagnoses� http://www.washingtonpost.com/sf/lo...m=.04583a500fba

# ¿ Jun 2, 2017 17:59

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

We all love Reddit's personal finance tips, but I contend Department of Defense security clearance appeals are the finest BWM goldmine online. At least you know they are real, and the 2017 reports are fascinating: http://ogc.osd.mil/doha/industrial/2017.html

quote:

Applicant contests the Department of Defense�s (DoD) intent to deny his eligibility for a security clearance to work in the defense industry. Applicant owes approximately $138,000 in student loans on which he is paying $30 per month. He is more than $64,000 delinquent on other debts.

quote:

Applicant is a 44-year-old cost analyst/compliance manager who has worked for a defense contractor since April 2010, and he seeks to obtain a security clearance. (Tr. 17, 36, 86) From March 1994 through January 1998, he honorably served in the United States Marine Corps. (Tr.46) He separated as a corporal (E-4). (Tr. 42) The U.S. Department of Veterans Affairs rates Applicant�s disability at ten percent for which he receives $133 monthly. (Tr. 74) His annual salary is $99,550. (Tr. 38) In March 1999, after leaving the Marine Corps, he married and they have ten children ages 4 to 22. (Ex. 1) His wife does not work outside of the home.

quote:

He was at this job from June 2005 through March 2008. His income for half of 2005 was $60,000, for 2006 it was $130,000, and for 2007, $135,000 to $140,000. (Tr. 52) He indicated that during these times he was making a great deal of money.

quote:

In March 2008, Applicant left his job and invested $70,000 of his own money to open an Italian Ice store. (Tr. 52, 53) The money came from his savings and the sale of his stock options. (Ex. 6) The store netted less than $10,000 per year. (Tr. 54) In the fall of 2009, the store ceased to do business. (Tr. 54) During this period, Applicant maxed out his credit cards (SOR 1.i, $9,484 and SOR 1.o, $5,209). His last contact with the credit card companies was in 2008 or 2009. Since obtaining his current job in March 2010, he has not contacted the creditors. (Tr. 64) He stated it was a mistake to leave his well-paying job in order to start the Italian Ice store.

Link to PDF: http://ogc.osd.mil/doha/industrial/2017/15-00836.h1.pdf

# ¿ Jul 3, 2017 22:26

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Hoodwinker posted:

I know I've love to see "Zybourne Financial Services" as the thread title, but this one is too good, "He stated it was a mistake to leave his well-paying job in order to start the Italian Ice store."

Leaving a $100k job you went to grad school for to open an Italian ice store, with ten kids: BWM

Doing so in March 2008: :discourse:

# ¿ Jul 3, 2017 23:24

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

http://ogc.osd.mil/doha/industrial/07-00532.h1.pdf

quote:

Federal and state tax authorities are pursuing Applicant for nearly $200,000 in deficiency amounts for tax years 2002, 2003, and 2004. In an audit in 2007, the IRS concluded that Applicant�s horse business is a hobby or not-for-profit business and determined he was not entitled to claim business expenses for those three years. Applicant disagrees and contends that his horse business is a viable, for-profit business.

quote:

This case stems from Applicant�s horse business�which is separate from his employment in the defense industry�and an ongoing tax dispute. The business breeds, raises, trains, competes, and sells reining horses and working cow horses, and it currently has approximately 25 horses available for sale (Exhibit B). Applicant estimates that he has invested approximately $600,000 of his own money into the business (R. 32). The business did not show a profit for 2002, 2003, and 2004, the tax years in question. It had a profit of less than $10,000 in 2006, and Applicant expects to show a larger profit in 2007.

# ¿ Jul 6, 2017 16:59

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

http://ogc.osd.mil/doha/industrial/13-01024.h1.pdf

quote:

Applicant worked in support of NASA from 1985 until 2011, and by the time she was laid off in May 2011, she was earning approximately $150,000 per year. In 2002, being financially secure in her job, she developed a life-long horse hobby into an equine breeding business as a sideline. She purchased several rental houses and built the facility on a ten and one-half acre site, stocked it with three stallions and several brood mares, and over the next several years, purchased additional adjacent land, purchased equipment, and hired employees. At one point, she had 55 horses in her facility. In 2006, Applicant expanded her operation with the intention of producing and selling an increased number of foals per year. The production doubled from 6 to 12 foals. The acreage was up to about 120 acres.

quote:

There was nothing unusual about Applicant�s finances until about 2007 � 2008, when �the bottom fell out of the economy� and people starting decreasing their expenditures on luxuries like hunt clubs and thoroughbreds.Renters were unable to continue making their monthly rental payments, and either moved out or were evicted. Her horses still had to eat and be maintained. During this period, while loading horses, Applicant was injured when she was �slam-dunked� into the ground, resulting in her requiring neck surgery and being somewhat incapacitated for seven or eight months.

quote:

Until she could secure another good job, she accepted a much lower paying job with an equine hospital about 70 miles away in another state, where she earned $24,000 per year.

quote:

The president of the local bank first met Applicant through fox hunting, but subsequently assisted her in financing various real estate transactions over the years.

# ¿ Jul 6, 2017 19:37

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

mojo1701a posted:

The best part is the emphasis on the "applicant did not contact bank to inquire about fees." I can't wrap my head around being so scared of "fees" without finding out exactly how bad the damage would be.

Haha yeah, worse case scenario it would be something like $20 a month. I wonder what percentage of professional downfalls involved "he then decided to co-mingle the funds." A friend's dad got disbarred for that, it seems common.

# ¿ Jul 7, 2017 21:33

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

http://ogc.osd.mil/doha/industrial/09-03490.h1.pdf

quote:

Applicant failed to mitigate the Government�s security concerns under Guideline E, Personal Conduct and Guideline M, Use of Information Technology Systems. Applicant�s eligibility for a security clearance is denied.

quote:

Since December 2005, when Applicant was 17 years old, he has engaged in basic computer hacking attacks.

quote:

During 2005, Applicant also engaged in �social engineering� attacks. He understands that term to mean manipulating people to get personal information that you want and gaining unauthorized access to information by using computers, personal information, and services. One social engineering attack was against an unknowing neighbor. Using his computer skills he gained access to her personal email account. He accomplished this by intercepting electronic data from the wireless network containing her email address.

Armed with her email account information, Applicant then visited the internet service provider�s (ISP) website and attempted to login to view her account. When he could not guess the neighbor�s password, he executed the �forgot password� function and wrote down the basic security challenge questions. In an attempt to learn the neighbor�s maiden name (to answer the security challenge question), Applicant called the neighbor and fraudulently represented that he was planning a high school reunion for her grandparents.

During the conversation he learned the neighbor�s maiden name. He then again went to the ISP website and attempted to gain access to the neighbor�s email account. Once more, he was denied access even though he could answer the challenge question. Undeterred, Applicant continued this social engineering attack by calling the ISP�s customer service center and fraudulently representing to them that he was the neighbor�s husband and he demanded access to the account. He was given access after giving the service representative the correct challenge question answer.

With access to the neighbor�s account, Applicant was able to view her email at will. He viewed her personal emails, address book, and accessed her monthly billing statements for her phone and internet use. Additionally, he changed the welcome header on her email account by stating that she had been hacked. He also sent out a false mass email to her friends and family describing a personal situation. On another occasion he hacked into the neighbor�s computer hard drive and imbedded an inappropriate picture into her start up folder. The result of his action caused the picture to load anytime she started her computer. He attempted to access her email account about two weeks later, but was denied access because the password was changed.

Applicant then went to the neighbor�s house in person offering his services as a computer technician who could run a diagnostic test on her computer and troubleshoot any problems she was experiencing. She declined his services. At that time, Applicant did not tell her that he had hacked her system, nor has he ever disclosed that information to her because he feared the legal repercussions that could follow. Applicant admitted to these actions.

Also in 2005, Applicant hacked into a state Department of Transportation electronic road sign. The road sign is used to warn approaching motorists of upcoming hazards and display messages on the sign such as �warning road work ahead�. Applicant was able to access the message codes on the sign by calling the sign�s manufacturer and falsely representing that he was a construction worker who needed the codes. He was provided this information and used it to access the sign�s computer. He then changed the sign�s message on several occasions. One of the messages he put on the sign was �police ahead� to warn motorists of police cars using radar for speed enforcement. He put this message up several times. He also put joke messages on the sign. He admitted to these actions. He did this because it was challenging and he thought it was amusing to change the sign.

I dunno why they didn't give this guy clearance. :iiam:

# ¿ Jul 7, 2017 23:26

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

AreWeDrunkYet posted:

Is there some missing information there, because it sounds like he was never caught for any of this and just went ahead and told the clearance investigators anyway.

Yeah, doesn't sound like he was caught. I hope there was some procedure for authorities to get in contact with the neighbor to let her know that this jackass decided to try to ruin her life and get into her house for the heck of it.

# ¿ Jul 7, 2017 23:39

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

potee posted:

I just had a memory of some terrible hoarder goon thread where it eventually came out he bought a $2k warcraft rig while his children were literally falling through the holes in the floor of his rotting trailer.

https://forums.somethingawful.com/showthread.php?threadid=3453028

The tax man himself banned the dude

# ¿ Jan 17, 2018 02:06

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

https://www.npr.org/2018/01/23/579690595/the-mystery-of-contract-work-why-so-many-guys

quote:

A new NPR/Marist poll finds that 1 in 5 jobs in America is held by a worker under contract. Within a decade, contractors and freelancers could make up half of the American workforce. In a weeklong series, NPR explores many aspects of this change.

Alex Belfiori has a big day coming up later this week. He'll sit down with his boss in a conference room at the Dick's Sporting Goods headquarters near Pittsburgh. The topic: his future with the company.

"I was told ... there were no guarantees for me getting hired full time," says the 28-year-old Belfiori.

For the past eight months, he has been a contract worker at the company, taking care of its tech needs. He likes his job. It's hands-on and involves making sure that projectors, TVs, computers and audio equipment are all working properly. The pay is decent � about $20 an hour � but not great. So he hopes that when he sits down with his boss, he will nail a job that's more challenging and financially rewarding.

quote:

Meanwhile, Belfiori, the contract worker at Dick's Sporting Goods, is taking a couple of steps to build some financial security. One is very practical; the other is riskier and more adventurous.

"I help fix computers on the side, and I'm also invested in cryptocurrency," he says.

That's cryptocurrencies like bitcoin. In June, he took the plunge. "I was looking at that and decided to put a couple of thousands into it from my savings," he says.

Since then, cryptocurrency prices have bounced around a lot. Belfiori is still ahead on his investment, but he is not counting on cryptocurrency to achieve the American dream � or fund his retirement. Maybe it'll pay for a nice vacation.

# ¿ Jan 25, 2018 19:12

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

UnfurledSails posted:

That thread reads like Ken M but with money. Is there any proof that he's for real?

I dunno about irrefutable proof, but if he�s not real then this a troll going on a decade and maintaining an elaborate and fascinating fiction, with the end goal of annoying maybe 200 people.

I think he�s real, as news headlines this week we�re about Slenderman, we lost a mod at Bengahzi, and the newspaper I saved from my wedding day had Caro on the front page. So weirder stuff has been confirmed.

# ¿ Feb 3, 2018 17:28

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

DariusLikewise posted:

No you see, you need to win one of those lesser lotteries, like a million bucks or less. That's financial planning.

Haha that was the plan of the ultra lucky guy in the X-Files who didn�t need $28 million so be just won for $100,000. Then threw away the ticket as the monthly payout would take too long.

# ¿ Feb 13, 2018 23:04

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

The opening paragraph in this article on Brendan Fraser makes it sound like he is making a move at dethroning Nic Cage as all time worst celebrity with money:

quote:

Brendan Fraser wants me to meet his horse. �I got this horse because it's a big horse,� he says, standing in a barn in Bedford, New York. He removes a green bandanna from his pocket and gently wipes the animal's eyes. The horse's name is Pecas�the Spanish word for freckles.

(For fair context the full article shows Fraser is a responsible but weary man: https://www.gq.com/story/what-ever-happened-to-brendan-fraser)

# ¿ Feb 24, 2018 18:06

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Parents go to court to boot 30-year-old son from home

quote:

SYRACUSE, N.Y. (AP) � In a real-life case of �Failure to Launch,� an upstate New York judge Tuesday ordered a 30-year-old man to move out of his parents� house after they went to court to have him ejected.

Michael Rotondo told the judge he knows his parents want him out of the split-level ranch they share. But he argued that as a family member, he�s entitled to six months more time.

State Supreme Court Justice Donald Greenwood rejected that as outrageous, the Post-Standard of Syracuse reported.

Rotondo told reporters he�ll appeal. Mark and Christina Rotondo brought the court case after several eviction letters offering money and other help were ignored.

The parents didn�t answer a call seeking comment Tuesday and their letters, filed in court, don�t give their reasons for wanting their son out of the house. They do tell him to get a job and move his broken-down Volkswagen Passat.

�Michael, here is $1,100 from us to you so you can find a place to stay,� a Feb. 18 letter starts. It goes on to suggest he sell his stereo, some tools and any weapons he may have to gain money and space.

�There are jobs available even for those with a poor work history like you,� the letter reads. �Get one � you have to work!�

It�s signed �Christina and Mark Rotondo.�

With reporters watching in court, Michael Rotondo sparred with Greenwood for 30 minutes, at one point refusing the judge�s request to work things out directly to his parents, who were sitting quietly nearby.

When Greenwood called Rotondo up to the bench, the long-haired and bearded son tried to bring the podium with him � noting it held the reporters� microphones.

He then called out for television camera crews to meet him outside the courthouse. There, he answered their questions, telling them he occupies a bedroom in his parents� home, doesn�t speak to them and isn�t ready to leave home. He said he had a business but wouldn�t elaborate.

�My business is my business,� he said.

The judge instructed the parents� lawyer to draft an eviction order. Attorney Anthony Adorante said it would give Rotondo reasonable time to vacate.

In the 2006 Matthew McConaughey romantic comedy, the grown son�s parents hire a woman to try to speed their son�s exit.

https://www.seattletimes.com/nation-world/judge-sides-with-parents-boots-adult-son-from-new-york-home/

# ¿ May 22, 2018 23:26

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

normal contact posted:

Swimming in debt? Want to leave your wife and start a new life with your mistress? Well you can kill two birds with one stone by tampering with your wife's parachute and collecting that sweet sweet life insurance payout! Just make sure she actually dies.
http://www.bbc.co.uk/news/uk-england-44241364

Whoa! She pulled a Peggy Hill.

# ¿ May 25, 2018 20:15

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Here's a interesting look at a boomer couple drifting towards retirement with no plan or financial literacy. If they hadn't been lucky enough to buy a house in Seattle's Eastside in the 1980s they'd be doomed.

quote:

The Weddells bought their 63-year-old house in southeast Bellevue for $59,500 in 1983. At the time, the three-bedroom home was a fixer-upper with blackberries and an abandoned boat in the back yard.

After more than 30 years of remodeling projects and appreciation, the house has an estimated market value of about $791,000, according to Zillow.

quote:

Based on its estimated market value, the house represents 94 percent of the couple�s total assets. That�s well above the national average: Housing wealth in 2016 accounted for about 58 percent of the total wealth, net of debts, for typical American households headed by homeowners older than 65, according to the Center for Retirement Research at Boston College.

Larry's 401(k) balance of $3,000, assuming he's been working since age 18, represents saving $58 a year for retirement.

quote:

The Weddells� second-largest asset is a $50,000 savings account at a brick-and-mortar bank. The bank�s annual percentage yield on savings accounts ranges between 0.03 percent and 0.06 percent � more than two percentage points below the current rate of inflation.

Larry, 69, is a full-time tech-support specialist at the Seattle office of health-services company Optum. He earns about $50,100 a year before taxes and withholding. He also participates in his employer�s 401(k) retirement savings plan, with a current account balance of about $3,000.

Kathryn, 65, is retired and collecting about $750 a month in Social Security before taxes. Larry also collects Social Security, which brings in an additional $2,000 a month before taxes.

They've found a way to owe $40k in student loans.

quote:

The couple�s largest expense is their mortgage. They owe about $215,000 on the home after refinancing three times over the years to convert equity to cash � money that they spent on remodeling, repairs and other bills. They also owe $20,000 on a low-interest, secondary loan on the home.

As with so many other American families these days, the Weddells� debt includes student loans. Larry owes $7,000 for retraining he sought after a layoff. The couple are also paying down a $39,000 education debt on so-called PLUS loans � parent loan for undergraduate students � for two of their grown children.

They�re burning $5,000 a month somehow.

quote:

The Financial Planning Association of Puget Sound connected the Weddells with Richard Marshall, a financial consultant at the Bellevue office of advisory firm Vestory.

After examining the Weddells� household finances, Marshall saw a couple on the cusp of retirement with a lot of home equity, not much savings and a cash flow problem. He estimated that they were running about $700 a month in the red. They were tapping their savings account to make up the difference.

Marshall�s first order of business was to urge the Weddells to cut their monthly spending by $1,000, to about $4,000 a month.

Let�s see where $400 a month goes.

quote:

The Weddells have already started reducing their spending, starting with their grocery bill. They also realized they were spending about $400 a month on digital programming, such as Netflix and Redbox.

�We don�t live this luxurious lifestyle,� Kathryn said. �We just live a normal life.�

https://www.seattletimes.com/business/house-rich-savings-poor-and-eyeing-retirement-bellevue-couple-ponders-options/

# ¿ Jun 25, 2018 23:32

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Sock The Great posted:

I need to see a credit card statement with $400 month of digital programming.

Guy has to have several porn subscriptions from the early 2000's he just forgot about.

I wouldn�t be surprised to learn he�s still paying for AOL. But likeliest guess for that broad umbrella of �digital programming� would be a cable package with all the trimmings.

Drunk Tomato posted:

Hi, I owe $220,000 on my $50,000 house after 33 years.

I am past retirement age and forced to continue working!

I spend $400 a month on Netflix (I created a different account for each of the 40 shows I watch)

I have basically no money saved in retirement, and $50k buried in a vault in the backyard.

I am still better off than 75% of Americans.

Yeah exactly. No way they listen to the financial advisor and downgrade to a condo.

# ¿ Jun 26, 2018 00:53

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

plester1 posted:

To be fair, the Seattle housing market is so screwy right now that they probably couldn�t even afford a condo.

True. With the Bellevue housing market prices increasing over 16% last year they should hold onto the house as long as possible. But considering he started retirement planning in his late 60s by writing to a newspaper...

# ¿ Jun 26, 2018 01:53

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

BMan posted:

Also, now there's Uber for Amazon packages. Can't find a parking spot? gently caress you, eat a parking ticket and deliver those packages

https://www.theatlantic.com/technology/archive/2018/06/amazon-flex-workers/563444/

That�s messed up they were only pulling down $13 an hour. I saw an article on SF restaurants and even dishwashers command $19 an hour.

# ¿ Jun 27, 2018 01:20

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Cicero posted:

Can you source this? I'm a land use/housing nerd.

I found an article from the Oregonian: https://www.oregonlive.com/front-porch/index.ssf/2018/02/apartment_construction_is_dryi.html

I wonder if Seattle will see decreased apartment construction soon. I don�t think there have been any comparable housing laws passed, but new buildings have been going up like crazy. There was a recent article about how downtown apartment vacancy is at 25%: https://www.seattletimes.com/busine...nters-freebies/

# ¿ Jun 28, 2018 01:39

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Magissima posted:

I agree with your plan 100% but Tokyo doesn't actually have this at all. Iirc the central loop line is run by JR East, the semi-privatized descendant of the national rail network, and there are a number of other privately owned subway lines in addition to the municipal subway.

There was a great article about the insane costs of building any subway track in NYC. The ridiculous costs aren�t just because this is a big city.

quote:

An accountant discovered the discrepancy while reviewing the budget for new train platforms under Grand Central Terminal in Manhattan.

The budget showed that 900 workers were being paid to dig caverns for the platforms as part of a 3.5-mile tunnel connecting the historic station to the Long Island Rail Road. But the accountant could only identify about 700 jobs that needed to be done, according to three project supervisors. Officials could not find any reason for the other 200 people to be there.

�Nobody knew what those people were doing, if they were doing anything,� said Michael Horodniceanu, who was then the head of construction at the Metropolitan Transportation Authority, which runs transit in New York. The workers were laid off, Mr. Horodniceanu said, but no one figured out how long they had been employed. �All we knew is they were each being paid about $1,000 every day.�

But surely any major world city would have the same costs? Nah, Paris is doing the same project for a sixth of the cost.

quote:

In Paris, which has famously powerful unions, the review found the lower costs were the result of efficient staffing, fierce vendor competition and scant use of consultants.

In some ways, M.T.A. projects have been easier than work elsewhere. East Side Access uses an existing tunnel for nearly half its route. The hard rock under the city also is easy to blast through, and workers do not encounter ancient sites that need to be protected.
�They�re claiming the age of the city is to blame?� asked Andy Mitchell, the former head of Crossrail, a project to build 13 miles of subway under the center of London, a city built 2,000 years ago. �Really?�

Building anything for the subway in NYC: GWM if you�re connected, BWM for everyone else.
https://mobile.nytimes.com/2017/12/28/nyregion/new-york-subway-construction-costs.html

# ¿ Jun 30, 2018 02:10

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

This is an interesting article by a writer who attempts to blame banks, politicians, and his parents for causing him to live in six figure student loan debt. But reading closely, there may be another culprit.

quote:

In the summer of 2010, I completed school at New York University, where I received a B.A. and an M.A. in English literature, with more than $100,000 of debt, for which my father was a cosigner. By this time, my father was still unemployed and my mother had been diagnosed with an aggressive form of breast cancer.

Maybe the author was unaware his family didn't have unlimited resources?

quote:

My debt was the result, in equal measure, of a chain of rotten luck and a system that is an abject failure by design. My parents never lived extravagantly. In the first years of their marriage, my father drove a cab. When they had children and my father started a career in the auto industry, we became firmly middle class, never wanting for anything, even taking vacations once a year to places like Myrtle Beach or Miami. Still, there was usually just enough money to cover the bills�car leases, a mortgage, groceries. My sister and I both attended public school. How much things cost was a constant discussion. Freshman year of high school, when I lost my yearbook, which cost $40, my mother very nearly wept. College, which cost roughly $50,000 a year, was the only time that money did not seem to matter. �We�ll find a way to pay for it,� my parents said repeatedly, and if we couldn�t pay for it immediately, there was always a bank somewhere willing to give us a loan.

He comes so close to self-awareness.

quote:

I�ve spent a great deal of time in the last decade shifting the blame for my debt. Whose fault was it? My devoted parents, for encouraging me to attend a school they couldn�t afford? The banks, which should have never lent money to people who clearly couldn�t pay it back to begin with, continuously exploiting the hope of families like mine, and quick to exploit us further once that hope disappeared? Or was it my fault for not having the foresight to realize it was a mistake to spend roughly $200,000 on a school where, in order to get my degree, I kept a journal about reading Virginia Woolf?

You don't have to pay $50k a year to become a writer!

quote:

I had studied English because I wanted to be a writer. I never had an expectation of becoming rich. I didn�t care about money.My M.A. fed an intellectual curiosity that eventually led me to newspapers, and I don�t regret that my translation of �The Dream of the Rood� from Old English to contemporary vernacular was not a terribly marketable or even applicable skill.

This guy.

quote:

I refused to go to the doctor in the hope that my condition might worsen into a more serious infection that, even if it didn�t kill me, might force someone to at last lavish me with pity. I coughed up a not insignificant portion of yellowish fluid before my father and I entered the restaurant. We sat at a table, and I frowned at the forms he handed me. I started the conversation by asking, �Theoretically, if I were to, say, kill myself, what would happen to the debt?�

�I would have to pay it myself,� my father said, in the same tone he would use a few minutes later to order eggs.

Perhaps it is Silicon Valley's fault.

quote:

I will reiterate that I am a thirty-year-old married man with more than $100,000 of debt, who makes less each year than what he owes. Buying a pair of pants is a major financial decision for me. I do not think myself eligible in any sense of the word, nor do I find my debt to be amusing merely on a conversational level. Still, I felt as if in ten years, the debt hadn�t changed, but the world had, or at least the world�s view of it. This thing, this twenty-first-century blight that had been the source of great ruin and sadness for my family was now so normal�so basic�that it had been co-opted by the wellness industry of Silicon Valley.

https://thebaffler.com/salvos/looks-like-debt-to-me-miller

Hyrax Attack! fucked around with this message at 16:12 on Jul 6, 2018

# ¿ Jul 6, 2018 15:53

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Anyone heard of a company called StockCharts.com? They advertise on the radio during baseball games constantly and claim to be an option if your financial advisor is no longer hitting it out of the park.

Krispy Wafer posted:

Fine-china-no-one-eats-off is a Greatest Generation thing that just barely soaked into Boomers.

Although we had pewter dishes, which are loud, heavy, and terribly uncomfortable to eat off of and were only used once and now we all have heavy metal poisoning.

For our wedding some older in laws insisted they set up a tea/coffee station using their silver set during the reception. It was a minor thing and seemed to work ok but seemed kinda random. Possibly a Swedish thing?

# ¿ Aug 1, 2018 05:26

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

The thread often mentions the financial scammers who surround military bases, especially for terrible car loans. In response to these predatory businesses, the US government is taking action to help protect the shady auto dealers.

quote:

The Trump administration is taking aim at a law designed to protect military service members from getting cheated by shady lending practices.

NPR has obtained documents that show the White House is proposing changes that critics say would leave service members vulnerable to getting ripped off when they buy cars. Separately, the administration is taking broader steps to roll back enforcement of the Military Lending Act.

quote:

The product Peterson is referring to is called gap insurance. Here's how it works: Cars lose some of their value the moment they are driven off the lot. Dealers often tell customers that if their car gets wrecked in a crash they could be financially harmed because regular insurance may not pay out the entire amount owed on the loan. Peterson says some car dealers push this insurance product really hard. "They convince people they've got to have this gap insurance," he says.

That kind of insurance can actually be inexpensive. Peterson, who helped write the regulations for the Defense Department, says it often costs as little as $20 to $30 a year and is available from a car buyer's regular insurance company.

"But if you buy it from your car dealer, they may mark it up. ... I've seen gap insurance policies being sold for $1,500" over the course of the loan, he says.

The rules to protect service members effectively block auto dealers from tacking on an extra product � such as overpriced gap insurance � and rolling it into their car loans.

The industry has been lobbying to change that, and the White House appears to be sympathetic. The administration just sent the latest version of a proposal to the Defense Department, and documents show that it would give car dealers what they want.

quote:

Meanwhile, critics say that another change in the works would more broadly weaken the enforcement of the Military Lending Act. It involves Mick Mulvaney, the Trump administration's acting director of the Consumer Financial Protection Bureau.

Under Mulvaney, the bureau is planning to halt regular monitoring of payday lenders and other firms to see whether they are violating the act and cheating military personnel.

https://www.npr.org/2018/08/13/637992389/white-house-takes-aim-at-financial-protections-for-military

# ¿ Aug 14, 2018 20:16

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Coworker may be BWM. They are going from office to office asking "Do you like Hawaii?" In response to "Yes?...", they try to sell their timeshare on Kona.

For extra sales power they say flights are cheaper than you may expect, then trail off without naming a price or showing photos. So far ineffective. Next step is to put up a handwritten ad in the breakroom, instead of adapting a strategy to reach customers beyond a fifty yard radius from their desk.

# ¿ Aug 16, 2018 23:35

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Holy cow that is something. For the part when you said you made them disclose that they had $400k in debt before you agreed to marriage, what would have been the unacceptable cutoff level?

# ¿ Aug 17, 2018 00:08

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Oh man Seattle area tree chat. After our local elites reach the pinnacles of their careers, bought expensive houses, and got the kids into private schools, they immediately spend all their time and energy suing each other and the city over tree height.

One of our NIMBYiest of NIMBY neighborhoods is Innis Arden. This community was founded by aerospace tycoon William Boeing, who set up housing covenants to forbid any houses being "sold, conveyed, rented, or leased in whole or in part to any person not of the White or Caucasian race." While clearly unenforceable for decades, to give you a sense of their priorities Innis Arden only got around to removing this language in 2006.

So Innis Arden has a habit of placing their property values above all else. Most recently this means:

quote:

Beginning nearly 30 years ago in the Innis Arden neighborhood of Shoreline, homeowners were guaranteed unimpeded views of Puget Sound and the Olympic Peninsula. They also had the right to petition a neighbor to remove trees that block that view.

Fast forward to today, as the city of Shoreline is in the process of revising its tree code to improve the environmental quality of life. Trees absorb stormwater runoff, provide economic and aesthetic improvement, and absorb carbon dioxide that causes global warming.

Of course they support protecting the environment... oh what's that? It might lower my house value by .01%? Well, better spend years suing the city.

quote:

However, big trees have been the ones creating a stir in Innis Arden. In 1981, a tree height amendment was added to the community�s view covenant, mandating that trees be no taller than the owner�s rooflines. If so, an uphill neighbor can petition for an offending tree to be pruned, topped or brought down in order to preserve views.

Peter Eglick, the Innis Arden�s outside counselor, said in a recent letter to the City Council that �while it is beyond dispute in light of judicial decisions extending over 25 years that views� are integral to Innis Arden, the (Tree Code) proposals persist in refusing to acknowledge view preservation as a factor in tree regulation.�

Eglick cited the economic benefits of views for the residents of Innis Arden, in that views �substantially� enhance property values and noted the undermining effect trees have with the enjoyment of views.

https://www.heraldnet.com/uncategorized/innis-arden-objects-to-city-tree-code/

# ¿ Aug 17, 2018 20:01

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

BigDave posted:

Postal inspectors are like Fish and Game cops, or US Customs.

You may have never heard of them, but holy poo poo, loving with them is borderline suicidal.

A friend works on an island community in Western Washington. When a dud firework was found in a mailbox four postal inspectors were dispatched for a four hour round trip, including a ferry, to throw it away with no other follow up. GWL to have that gig, it�s a nice ferry ride.

# ¿ Aug 19, 2018 22:17

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

GoGoGadgetChris posted:

"- My brother's heroin detox treatment/medicine because he is "really serious about it this time" and 8th time is always the charm."

Oof, I am sorry to hear this one. Whether he's serious or not, it's basically impossible to kick a serious heroin addiction without INCREDIBLE amounts of monetary and other assistance. And he's legitimately going to die if people don't help him. Fun!

That�s what Harris Wittels did, according to his interview with Pete Holmes. He decided to get into heroin, then because of his lucrative job on Parks & Rec he was able to go to rehab costing tens of thousands to boot the addiction.

Then realized this meant his tolerance was now low, so if he went back to hard drugs he�d get really, really high. Even his dealer tried to talk him out of that. Fast forward a few months after this interview, no more Harris.

It�s an insane interview, a well liked comedian laying out the exact, extremely preventable, reasons he would be dead soon. I wanted Pete Holmes to yell at him or something. (You Made it Weird #236)

Hyrax Attack! fucked around with this message at 16:55 on Aug 20, 2018

# ¿ Aug 20, 2018 16:52

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

The harvest is coming in.

After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors

quote:

SAN FRANCISCO � Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.

Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.

�I got too caught up in the fear of missing out and trying to make a quick buck,� he said last week. �The losses have pretty much left me financially ruined.�

Mr. Roberts, 28, has a lot of company. After the latest round of big price drops, many cryptocurrencies have given back all of the enormous gains they experienced last winter. The value of all outstanding digital tokens has fallen by about $600 billion, or 75 percent, since the peak in January, according to data from the website coinmarketcap.com.

quote:

Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.

quote:

In the United States, Charles Herman, a 29-year-old small-business owner in Charleston, S.C., became obsessed with virtual currencies in September. He said he now felt that he had wasted 10 months of his life trying to play the markets.

While he is essentially back to the $4,000 he put in, he has soured on the revolutionary promises that virtual currency fanatics made for the technology last year and has resumed investing his money in real estate.

�I guess I thought we were �sticking it to the man� when I got on board,� Mr. Herman said. �But I think �the man� had already caught on, and had an exit strategy.�

quote:

With prices down so much, he said he was actually looking to put more money into the markets.

That thinking has been encouraged by the people who invested in Bitcoin in 2013, when it first topped $1,000. That bull market was followed by a crash in which the price of Bitcoin dropped more than 80 percent. But after a long fallow period, the price recovered. Even with recent losses, the value of one Bitcoin is hovering around $6,500 � up more than 500 percent from the peak of 2013.

https://www.nytimes.com/2018/08/20/technology/cryptocurrency-investor-losses.html

# ¿ Aug 20, 2018 23:59

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

CmdrRiker posted:

"I'm going to shove as much money into pre tax retirement accounts to lower my income tax margin and contribute less to gov't retirement plans that will disappear in a few decades." Like.. that's good but why would you think about it like that?

Some of my older coworkers are very very lucky the company auto-enrolls everyone in a 401k plan that auto-increases their annual contributions by 1% of their pay each year (up to 20%). It�s a good plan with tiny fees and generous company contributions based on how much you are putting in.

You can opt out or not have it auto-increase, but most don�t do that. Based on the blank expressions of these coworkers when asked anything about their retirement plans, having it set up this way by default is likely saving hundreds of retirees from poverty.

# ¿ Sep 11, 2018 19:36

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

More older Americans are "unretiring"

quote:

Many older Americans who have retired from their previous jobs are returning to the workforce, a process some are calling "unretiring."

The main reason for seniors choosing to return to work is unsurprising--money, according to a survey commissioned by senior care provider Home Instead that drew responses from more than than 1,000 "unretired" people, as well as those nearing retirement, in the U.S. and Canada. But the second-most common reason was fighting boredom, with 44 percent of respondents citing it as the reason they jumped back into employment.

Perhaps this isn�t a crisis. Maybe the elderly are laboring out of boredom?

quote:

In part, the trend reflects the widespread shortfall in Americans' retirement savings. A recent Transamerica Center for Retirement Studies report estimates that workers' median retirement savings is only $71,000, far short of what experts say is needed to retire comfortably. Only 30 percent report accumulating $250,000 or more. Meanwhile, the number of older Americans filing for bankruptcy has surged fivefold since 1991.

I�m a little surprised that $71k is the average, that seems high. Maybe taking home value into account?

https://www.cbsnews.com/amp/news/more-older-americans-are-unretiring/?__twitter_impression=true

# ¿ Sep 21, 2018 04:58

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

KYOON GRIFFEY JR posted:

my dad retired after an education career and his pension terms were just like, unbelievably good - something like 2/3 of your three highest average years' pay, plus 0.67% additional for each year you worked over I think your 30th year of service.

There�s something insane like that regarding highest average years pay in Washington State, so sometimes employees nearing retirement start getting big raises to boost their pensions. They went too far with three fire managers and the state stepped in.

quote:

Former Lakewood fire officials Bob Bronoske and Mike McGovern will be asked to repay excess payments of $12,800 and $6,700, respectively, state retirement managers said. The $12,800 in extra payments that went to Greg Hull are billed to the city of DuPont, Pierce County. DuPont has been asked to cover more than $500,000 in his pension payments after the state determined he was improperly classified as a contractor when the city hired him out of retirement.

Along with that immediate collection of money, the state projects that the pension system will save more than $140,000 in future years from permanent reductions in each of their pension values.

Even with the reductions, Hull, Bronoske and McGovern will still have some of the most valuable pensions in the entire state � each of them more than $150,000 per year.

https://www.seattletimes.com/seattle-news/state-to-reduce-pensions-of-3-ex-firefighters/

# ¿ Sep 21, 2018 14:15

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Been a while since we�ve taken a look at why some people aren't getting a security clearance. Some highlights from 2018 (http://ogc.osd.mil/doha/industrial/2018.html)

quote:

Between October and November 2014, the IRS filed tax liens against Applicant totaling over $500,000. Applicant testified that the liens are for past-due taxes. He admits to not timely filing income tax returns and paying his income taxes for four to five years. He claims to have reached out to the IRS to address and resolve his sizeable federal tax debt. He promised to present documentation reflecting his efforts to resolve the federal tax debt, but did not supply any such documentation.

He reportedly entered into a repayment agreement with the IRS in 2016 to resolve past-due federal taxes for tax years 2009 � 2013, but no documentation of that repayment plan or any other was submitted. Applicant also claims that in 2016 he made some payments to the IRS to resolve the tax debt, but provided no documentation of such payments.

http://ogc.osd.mil/doha/industrial/2018/17-01291.h1.pdf

Think $500k owed is a problem? Heck no, not when you could owe $1.7 million:

quote:

The SOR, as amended, identified 14 purportedly delinquent accounts that had been placed for collection or charged off, or filed as a tax lien or judgment, as generally reflected by Applicant�s 2015 credit report, his 2016 credit report, or his 2017 credit report. Those debts total approximately $1,709,759.

The court concludes:

quote:

It appears that Applicant�s plan, according to his track record, was to simply dispute and ignore, or in at least one instance, litigate. When confronted with the issues that may have caused his financial problems, Applicant failed to act responsibly. Applicant�s actions under the circumstances continue to cast doubt on his current reliability, trustworthiness, and good judgment.

http://ogc.osd.mil/doha/industrial/2018/16-03221.h1.pdf

# ¿ Sep 25, 2018 02:21

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

CannonFodder posted:

Restaurants are a good way to turn a large pile of money into a small pile of money. They are also a good way to turn a small pile of money into a large pile of money. Hard work, good business sense, and luck are all factors. In a lot of the BWM tales the vanity restaurants tend to have absent or barely working owners and they fail quickly. And alcoholism is rampant in the industry so that takes a toll.

This is a good time to bring up a classic from the BWM hall of fame: https://torontolife.com/food/restaurant-ruined-life/

# ¿ Sep 26, 2018 23:28

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

Cacafuego posted:

I get mad when people scam elderly folks out of money or just plain dislike thieves in general, but these horse grifters are just making me laugh ripping off rich people.

It�s like when someone was selling counterfeit rare wine to a Koch brother.

https://www.vanityfair.com/culture/2012/07/wine-fraud-rudy-kurniawan-vintage-burgundies

# ¿ Oct 10, 2018 19:40

Adbot: ADBOT LOVES YOU

# ¿ Apr 25, 2024 02:31

Hyrax Attack!: Jan 13, 2009; We demand to be taken seriously

wilderthanmild posted:

Random thing I assume is BWM I keep seeing ads around for: Build to sell houses. Like I keep seeing ads which look to be from builders on empty lots. This isn't some special super hot market either, it's loving Cleveland. This has to be a sucker's trap, right?

In the Seattle area there are many hand made signs seeking a real estate trainee, and promising up to $10k a month. I want an investigative podcast to follow up and find out what happens.

# ¿ Oct 11, 2018 14:50

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Bad With Money 2018: When I die, bury me in the blockchain.

«‹›2 »