Recent Posts

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Antimustachian Wall of Shame and Comedy / Re: Overheard at Work
« Last post by johnintaiwan on Today at 12:44:16 AM »
On the way home from work I saw THREE cars with bows on them.  My first instinct was to assume they're Christmas gifts, but I'm going to give people the benefit of the doubt this time and assume they're just being festive.

That makes me think of this:
https://www.youtube.com/watch?v=fl5kwJ7eJSo
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Off Topic / Re: Poor Folks are Victims
« Last post by Cathy on Today at 12:37:31 AM »
I think most "poor people" are just complainypants for reasons I've mentioned elsewhere, especially ones who own a vehicle while simultaneously complaining about times being tough.

That said, I was just thinking of an experience I had about four years ago, when I was 19, that made me realise that some aspects of being "poor" are really not things I would ever consider, and I thought I might share that story here.

At some point in the distant past, maybe when I was 16, I received a Walmart gift certificate as a present, for some small amount ($20). However, there was no Walmart that was reasonable to access by public transit and I've never driven, so I never had any occasion to make use of the card. In my home province, there is a law that prohibits gift cards from expiring or losing value, so there was no rush to spend it (other than loss to inflation, I suppose :P).

A few years later, when I was around 19, I coincidentally found myself near a Walmart so I figured I might as well go in and see what reasonable things I could purchase with this gift card, which fortunately I happened to have in my wallet.

As I recall, I ended up purchasing a nightlight (which I was on the market for anyway), some batteries, and some other things I wanted anyway. I intentionally spent slightly over the value of the gift card to completely eliminate it.

While I was waiting in line to check out my things, somebody behind me started talking to me. Normally I do not engage strangers, but since this person initiated it, it was hard to ignore. She asked me what I was doing in the store. I explained that I had a gift card that I wanted to get rid of. She had a really animated reaction to this, like "I love wal-mart gift cards! They're always great when I'm short on money for food."

I remember thinking "what.. the... fuck". There was just so much there I couldn't relate to, including the basic concept of not being able to buy food whenever I wanted, but also somehow gift cards are a regular part of her life as opposed to a fringe rare occasion that they were for me. And clearly she owned a vehicle since she had a large cart of stuff and the area is not transit-friendly. Even though I was only 19 at the time, I was already at the point where I could quit my job and maintain my standard of living for over 2-3 years without earning another cent of money. I even already had a brokerage account. Her comment was just so unfamiliar to me that it really made me realise I was part of a different class.

Anyway, that's just a bit of rambling, but the topic of groceries reminded me of it.
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Investor Alley / Re: Recently free of all Debt, Ready to Invest!
« Last post by mc6 on Today at 12:27:26 AM »
Wu Tang reference I assume?  Nice name!

(nothing of helpfulness to add)
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Investor Alley / Re: "Every 25-Year-Old In America Should See This Chart"
« Last post by MDM on Today at 12:27:01 AM »
I think pretty much everyone is already aware of exponents at this point. Talking about the "magic" of compounding is getting old as it is both fairly simple and quite intuitive. It may be interesting to show to a younger crowd, perhaps to high school students.

Then again, the same calculation with 6.25% return or less would show the opposite result. 7% after inflation (the 5000 stays the same during the full time period) seems rather optimistic to me.

See table below.
Columns are for the investment return at the top.
Rows are for the multiple (of the first investor's amount) used by the second investor.
Table entries are the time in years after which the first investor wins.

The investment returns are nominal, not real, because these are Future Value calculations.  One could attempt this with discounted cash flows and Present Value calculations but the time to explain the question could exceed the attention span of many in the target audience.

4% 5% 6% 7% 8% 9% 10%
117.213.711.49.88.57.66.8
227.321.918.215.613.612.110.9
334.627.723.019.717.315.313.8
440.232.226.823.020.117.916.1
544.935.929.925.722.520.018.0
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Yes. I've explained this. But it seems she is set on not working and thinks this is the solution. I have so many alarms going off in my head about this. How much will she lose?

Apparently the house was the first in the chain of 4 homes being sold. Her home was the last. The buyer of the first home was a wealthy guy that wanted the house, then backed out last minute (well only kicked out once the agents convinced my MIL to use her earnings on the house). I think it was overpriced as the family was trying to upgrade and no other offers. The whole thing was going on for 5 !! Months. The agents even convinced my MIL to move out of her house early to convince the others to speed things up (you can tell she's dealing with complete muppets). They just wore her down and she was sick of dealing with it so decided to just buy the first house so everyone in the chain could move on and she could sell her house. I told her many times to back out of the whole deal and find a new buyer (easy with her house) but she hates conflict and not sticking to her word with people.

But now she's inherited a huge headache and we are concerned because it was such a poor decision and she is stressed financially due to it. Would the loss be terrible if the money is reinvested?
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Off Topic / Re: Big City USA Protesters
« Last post by MDM on Today at 12:09:10 AM »
Yes, really.  Granted the lawyers are liberals (my group is liberal) but even the lawyers in Assistant DA positions are angry.   It is suppose to be showing the there is enough evidence/ probable cause that a jury should hear the case.  This person allowed his personal opinions to taint the court.
Ok, thanks for clarifying that it is every lawyer you know - originally I thought you meant every lawyer in Missouri. ;)

From http://thinkprogress.org/justice/2014/11/26/3597322/justice-scalia-explains-what-was-wrong-with-the-ferguson-grand-jury/:
Quote
the prosecutors told the Ferguson grand jury before they started their deliberations:
And you must find probable cause to believe that Darren Wilson did not act in lawful self-defense and you must find probable cause to believe that Darren Wilson did not use lawful force in making an arrest.
Seems the grand jury was instructed appropriately.  One can still debate whether they had enough information to arrive at their conclusion, but if anything some suggest they received too much....

One can find summaries like this: http://www.duluthnewstribune.com/opinion/3633573-national-view-grand-jury-result-ferguson-was-just
Quote
The result has been a parlor game of sorts where biased observers [from both sides] point to the testimony of one eyewitness or another to support their argument of whether there should have been an indictment.

But even if eyewitness accounts are read to support an indictment, the physical evidence suggested otherwise. Paul G. Cassell, a criminal law professor at the S.J. Quinney College of Law at the University of Utah, who writes for the Volokh Conspiracy, pored through that evidence and wrote last week in the Post: “The physical evidence is important because, unlike witness testimony, it doesn’t lie and can’t be accused of bias (such as racism). As the cliche goes, the physical evidence is what it is.

His conclusion? That the powder burns, DNA, bullet trajectory, blood evidence and shell casings all support Wilson’s account.”

For the raw material, see http://www.nytimes.com/interactive/2014/11/25/us/evidence-released-in-michael-brown-case.html?_r=0.  If anyone cares to review all of that and publish conclusions I would be interested.  Otherwise, the grand jury did hear all of that so I'll trust their conclusion.

Of course, the OJ criminal trial jury also heard everything so maybe....
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I think pretty much everyone is already aware of exponents at this point. Talking about the "magic" of compounding is getting old as it is both fairly simple and quite intuitive. It may be interesting to show to a younger crowd, perhaps to high school students.

Then again, the same calculation with 6.25% return or less would show the opposite result. 7% after inflation (the 5000 stays the same during the full time period) seems rather optimistic to me.
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Ask a Mustachian / 30 year old furnace
« Last post by alsoknownasDean on Today at 12:05:33 AM »
If if halves your gas bill, then you've got a payoff period of just over six years, and you're planning on staying five to seven years.

From a cost perspective, it's pretty much lineball, but from a safety and environmental perspective (especially considering the existing unit would be 36 years old by then), I'd lean towards replacement.

Then maybe keep it a couple degrees lower to get the bills lower still :)
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Welcome and General Discussion / Re: 5 Questions to Determine Wealth-ability
« Last post by Runningtuff on December 19, 2014, 11:51:47 PM »
It doesn't follow that you'd be wealthy, I agree. I'm 5/5, because I have no debt etc, and have a liquid EF, but have a relatively low income and no other financial assets/equity. You could have saved $1, in cash, and you're 5/5
;)
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Ask a Mustachian / Re: Help with a unmustachian wife
« Last post by Allie on December 19, 2014, 11:51:43 PM »
So, I've taken a breather and hope this will be helpful advice.

Your wife works for 20(?) hours per week at 10.50 per hour.  Do you know what she is bringing in net?  Maybe 8-10k? 

For that amount, you're missing out on 20 hours per week of time as a family, she's running from spending the day with a 3.5 year old (I have one and I know they can be difficult) to a part time job, which means she is "on" and working at least 60 hours of her week and so are you.

Is it really worth it?  Instead of cutting her cards and questioning your relationship, why not try a different tactic.  Sit down with her and budget out having her stay home full time with reasonable expectations for saving and spending.  Give it a trial run of a couple months and then, if she can stick to the budget while she is working, give her the green light to be a SAHM.  Take the time to explain that you want to save and adjust your lifestyle so you can go part time or stay at home too.  You may have to budget in "fun money" for both of you, but it would be a mutual decision that both of you would have to live by, not your decision for her.  (Hint, she should get more because she's not as frugal as you are and you need to keep the peace).

May I suggest you link everything up together, even if you don't actually combine finances, through mint or another similar tool, so you can both have a good read on the family finances as spending happens.  You need to work to strengthen your relationship and support of each other, not erode it. 

Finally, your presentation of your wife has been not altogether flattering.  I know posting can make it difficult to convey exactly what you want to, but your description of her giving to her sister, dealing with anxiety, and spending behind your back came across to me as you thinking she is lazy, weak willed, and devious.  It wasn't until I thought about her experiences commuting for hours, pregnant, post partum, anxious, and tired that I reevaluated.  Pregnancy and small children can make the sanest of us bat shit crazy.  You need to cut her a huge amount of slack.
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