what was your worst major purchase? mine is a 2019 mazda3

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
stoptothink
Posts: 5931
Joined: Fri Dec 31, 2010 9:53 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by stoptothink » Mon Jun 24, 2019 7:31 pm

deltaneutral83 wrote:
Mon Jun 24, 2019 2:42 pm
stoptothink wrote:
Sat Jun 22, 2019 1:34 pm

No. In fact, I wanted a straight-forward lawyer-less divorce and she agreed. Within days of us separating, she cleaned out our savings account (I believe about $15k) and put several thousand dollars on joint credit cards getting a new phone, clothes, getting her hair done, and going on a destination bachelorette party (what actually started the final argument that broke the camel's back) and then paying for the upcoming destination wedding. Figuring I was going to give her half anyway, I paid off the card (then closed it) and didn't bother bringing up the savings account. In Texas, divorces are not final until 60 days after it is filed. I received a call from her lawyer on like day 58, they wanted all my financial records. I represented myself in court, and when they asked for a percentage of my retirement, the judge literally laughed out loud. She had taken more than half of our combined assets within a week of us separating.

Divorces are fun. When I married my current wife she had less than nothing. I said I was doing it unless she signed a pre-nup and she didn't even balk.
What would a prenupt in the first one have done? You spent the money on tuition during the marriage, correct?
Nothing because I willingly spent most of my pre-marriage assets on paying off her pre-marriage debt (education and a car) and then cash-flowing her further education, but I made sure that I would not make the same mistake a second time.

wootwoot
Posts: 365
Joined: Tue Jan 27, 2009 7:37 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by wootwoot » Mon Jun 24, 2019 10:05 pm

Buying a home in early 2007. Short sold it in 2009 for 1/3 of the price I paid.

smitcat
Posts: 3800
Joined: Mon Nov 07, 2016 10:51 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by smitcat » Tue Jun 25, 2019 7:45 am

stoptothink wrote:
Mon Jun 24, 2019 7:31 pm
deltaneutral83 wrote:
Mon Jun 24, 2019 2:42 pm
stoptothink wrote:
Sat Jun 22, 2019 1:34 pm

No. In fact, I wanted a straight-forward lawyer-less divorce and she agreed. Within days of us separating, she cleaned out our savings account (I believe about $15k) and put several thousand dollars on joint credit cards getting a new phone, clothes, getting her hair done, and going on a destination bachelorette party (what actually started the final argument that broke the camel's back) and then paying for the upcoming destination wedding. Figuring I was going to give her half anyway, I paid off the card (then closed it) and didn't bother bringing up the savings account. In Texas, divorces are not final until 60 days after it is filed. I received a call from her lawyer on like day 58, they wanted all my financial records. I represented myself in court, and when they asked for a percentage of my retirement, the judge literally laughed out loud. She had taken more than half of our combined assets within a week of us separating.

Divorces are fun. When I married my current wife she had less than nothing. I said I was doing it unless she signed a pre-nup and she didn't even balk.
What would a prenupt in the first one have done? You spent the money on tuition during the marriage, correct?
Nothing because I willingly spent most of my pre-marriage assets on paying off her pre-marriage debt (education and a car) and then cash-flowing her further education, but I made sure that I would not make the same mistake a second time.
Stoptothink - you have posted this on numerous occasions now and it always has me intrigued. The reason for that is in many ways (but not all) I had a very similar start on life and had/have a fairly good handle on the situations that occur with money. Perhaps not like yourself but I can relate to a bunch of this ebb and flow of savings while having limited income.
So my math just does not allow me to figure out how you actually did this unless these are just anecdotal and not exact historical events. In some of your posts you relate how you spent $300K or tuition for the X-wife alone and maybe $400K total on her. You are still very young and during most of your early earnings years you have made less than half of what you earn now so I cannot fathom how you came across $400K to "lose" while living on your own & married while your earnings were so low.

SueG5123
Posts: 147
Joined: Fri Jan 01, 2016 8:41 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by SueG5123 » Tue Jun 25, 2019 7:56 am

neilpilot wrote:
Mon Jun 24, 2019 10:30 am
SueG5123 wrote:
Mon Jun 24, 2019 10:20 am
Worst purchase ever: 1978 Chevy Monday, bought new when I was a struggling student. The apex of horrible cars from Detroit.

The other worst purchase: Fender American Strat. It was a good instrument, just the wrong instrument for me. My own bad judgment.
Too bad you didn't keep that 1978 Chevy Monday. I hear that model is extremely rare and commands a hefty price, even in fair to poor condition. :P
Oops. Foiled again by autocorrect! Meant Chevy Monza, of course! A wretched automobile!

User avatar
TomatoTomahto
Posts: 9110
Joined: Mon Apr 11, 2011 1:48 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by TomatoTomahto » Tue Jun 25, 2019 8:01 am

SueG5123 wrote:
Tue Jun 25, 2019 7:56 am
neilpilot wrote:
Mon Jun 24, 2019 10:30 am
SueG5123 wrote:
Mon Jun 24, 2019 10:20 am
Worst purchase ever: 1978 Chevy Monday, bought new when I was a struggling student. The apex of horrible cars from Detroit.
The other worst purchase: Fender American Strat. It was a good instrument, just the wrong instrument for me. My own bad judgment.
Too bad you didn't keep that 1978 Chevy Monday. I hear that model is extremely rare and commands a hefty price, even in fair to poor condition. :P
Oops. Foiled again by autocorrect! Meant Chevy Monza, of course! A wretched automobile!
I thought it was a play on the old saw about never buying a car built on a Monday, because all the workers would be hung over from the weekend.
Okay, I get it; I won't be political or controversial. The Earth is flat.

FI4LIFE
Posts: 152
Joined: Sun Apr 28, 2019 9:27 am

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by FI4LIFE » Tue Jun 25, 2019 9:02 am

$20k to extend our yard a couple of feet. All it did was give me more yard to mow. Nobody uses it. Won't recoup when we sell. Awful decision.

stoptothink
Posts: 5931
Joined: Fri Dec 31, 2010 9:53 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by stoptothink » Tue Jun 25, 2019 9:22 am

smitcat wrote:
Tue Jun 25, 2019 7:45 am
stoptothink wrote:
Mon Jun 24, 2019 7:31 pm
deltaneutral83 wrote:
Mon Jun 24, 2019 2:42 pm
stoptothink wrote:
Sat Jun 22, 2019 1:34 pm

No. In fact, I wanted a straight-forward lawyer-less divorce and she agreed. Within days of us separating, she cleaned out our savings account (I believe about $15k) and put several thousand dollars on joint credit cards getting a new phone, clothes, getting her hair done, and going on a destination bachelorette party (what actually started the final argument that broke the camel's back) and then paying for the upcoming destination wedding. Figuring I was going to give her half anyway, I paid off the card (then closed it) and didn't bother bringing up the savings account. In Texas, divorces are not final until 60 days after it is filed. I received a call from her lawyer on like day 58, they wanted all my financial records. I represented myself in court, and when they asked for a percentage of my retirement, the judge literally laughed out loud. She had taken more than half of our combined assets within a week of us separating.

Divorces are fun. When I married my current wife she had less than nothing. I said I was doing it unless she signed a pre-nup and she didn't even balk.
What would a prenupt in the first one have done? You spent the money on tuition during the marriage, correct?
Nothing because I willingly spent most of my pre-marriage assets on paying off her pre-marriage debt (education and a car) and then cash-flowing her further education, but I made sure that I would not make the same mistake a second time.
Stoptothink - you have posted this on numerous occasions now and it always has me intrigued. The reason for that is in many ways (but not all) I had a very similar start on life and had/have a fairly good handle on the situations that occur with money. Perhaps not like yourself but I can relate to a bunch of this ebb and flow of savings while having limited income.
So my math just does not allow me to figure out how you actually did this unless these are just anecdotal and not exact historical events. In some of your posts you relate how you spent $300K or tuition for the X-wife alone and maybe $400K total on her. You are still very young and during most of your early earnings years you have made less than half of what you earn now so I cannot fathom how you came across $400K to "lose" while living on your own & married while your earnings were so low.
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.

smitcat
Posts: 3800
Joined: Mon Nov 07, 2016 10:51 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by smitcat » Tue Jun 25, 2019 10:15 am

stoptothink wrote:
Tue Jun 25, 2019 9:22 am
smitcat wrote:
Tue Jun 25, 2019 7:45 am
stoptothink wrote:
Mon Jun 24, 2019 7:31 pm
deltaneutral83 wrote:
Mon Jun 24, 2019 2:42 pm
stoptothink wrote:
Sat Jun 22, 2019 1:34 pm

No. In fact, I wanted a straight-forward lawyer-less divorce and she agreed. Within days of us separating, she cleaned out our savings account (I believe about $15k) and put several thousand dollars on joint credit cards getting a new phone, clothes, getting her hair done, and going on a destination bachelorette party (what actually started the final argument that broke the camel's back) and then paying for the upcoming destination wedding. Figuring I was going to give her half anyway, I paid off the card (then closed it) and didn't bother bringing up the savings account. In Texas, divorces are not final until 60 days after it is filed. I received a call from her lawyer on like day 58, they wanted all my financial records. I represented myself in court, and when they asked for a percentage of my retirement, the judge literally laughed out loud. She had taken more than half of our combined assets within a week of us separating.

Divorces are fun. When I married my current wife she had less than nothing. I said I was doing it unless she signed a pre-nup and she didn't even balk.
What would a prenupt in the first one have done? You spent the money on tuition during the marriage, correct?
Nothing because I willingly spent most of my pre-marriage assets on paying off her pre-marriage debt (education and a car) and then cash-flowing her further education, but I made sure that I would not make the same mistake a second time.
Stoptothink - you have posted this on numerous occasions now and it always has me intrigued. The reason for that is in many ways (but not all) I had a very similar start on life and had/have a fairly good handle on the situations that occur with money. Perhaps not like yourself but I can relate to a bunch of this ebb and flow of savings while having limited income.
So my math just does not allow me to figure out how you actually did this unless these are just anecdotal and not exact historical events. In some of your posts you relate how you spent $300K or tuition for the X-wife alone and maybe $400K total on her. You are still very young and during most of your early earnings years you have made less than half of what you earn now so I cannot fathom how you came across $400K to "lose" while living on your own & married while your earnings were so low.
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
Some of this makes more sense then - so when you say you did not make money on the past you were excluding income that your received from your non major job. And when you mention that you lost money in the past your referring to extended losses and not just earned income. Based upon your past posts it did not appear that you earned enough to cash flow $180K in 4 years (25-29). That would have meant another $45K free cash besides taxes and living for those 4 years.
In hindsight it would have been a better case had there been loans for school and or a home purchase - interesting how that is often the items that Bogles want to avoid.

LiterallyIronic
Posts: 1256
Joined: Sat Dec 05, 2015 10:36 am

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by LiterallyIronic » Tue Jun 25, 2019 10:18 am

This has been a fun thread to read (and I feel really bad for StopToThink).

For me, the answer has got to be my first undergraduate degree. I started school in 2001, studying Computer Science. Got partway through my sophomore year and hit a wall - I could not handle the material. Took some time off from school to work and figure out what I wanted to do with my life. Decided to switch from CS to IT. Did that for exactly one semester to know that was really not what I wanted to do. Took more generals before deciding to switch to Business Management. Finally graduated in 2008, after seven years. Got a job making $9.50/hour and never used that degree one little bit.

It wasn't even the financial cost of the degree that was the real killer - that belongs to the fact that I missed the entire stock market run-up because I was working dead-end call center jobs until 2013 when I went back to school until 2016 and didn't start investing until then, at age 32.

neilpilot
Posts: 2668
Joined: Fri Dec 04, 2015 1:46 pm
Location: Memphis area

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by neilpilot » Tue Jun 25, 2019 10:47 am

SueG5123 wrote:
Tue Jun 25, 2019 7:56 am
neilpilot wrote:
Mon Jun 24, 2019 10:30 am
SueG5123 wrote:
Mon Jun 24, 2019 10:20 am
Worst purchase ever: 1978 Chevy Monday, bought new when I was a struggling student. The apex of horrible cars from Detroit.

The other worst purchase: Fender American Strat. It was a good instrument, just the wrong instrument for me. My own bad judgment.
Too bad you didn't keep that 1978 Chevy Monday. I hear that model is extremely rare and commands a hefty price, even in fair to poor condition. :P
Oops. Foiled again by autocorrect! Meant Chevy Monza, of course! A wretched automobile!
OK, now I can relate to that. I bought a 1975 Monza with a 4.3l v8. It was the first model year, and the first production year of the engine. I remember that it was impossible to get to the rear plug with any available hand tool; the only way to change the plug with the engine still in the car was to drill a hole in the adjacent steel body. The 75 Monza was my last new GM car (my first was a 1971 Vega). I learned my lession.

stoptothink
Posts: 5931
Joined: Fri Dec 31, 2010 9:53 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by stoptothink » Tue Jun 25, 2019 10:51 am

smitcat wrote:
Tue Jun 25, 2019 10:15 am
stoptothink wrote:
Tue Jun 25, 2019 9:22 am
smitcat wrote:
Tue Jun 25, 2019 7:45 am
stoptothink wrote:
Mon Jun 24, 2019 7:31 pm
deltaneutral83 wrote:
Mon Jun 24, 2019 2:42 pm

What would a prenupt in the first one have done? You spent the money on tuition during the marriage, correct?
Nothing because I willingly spent most of my pre-marriage assets on paying off her pre-marriage debt (education and a car) and then cash-flowing her further education, but I made sure that I would not make the same mistake a second time.
Stoptothink - you have posted this on numerous occasions now and it always has me intrigued. The reason for that is in many ways (but not all) I had a very similar start on life and had/have a fairly good handle on the situations that occur with money. Perhaps not like yourself but I can relate to a bunch of this ebb and flow of savings while having limited income.
So my math just does not allow me to figure out how you actually did this unless these are just anecdotal and not exact historical events. In some of your posts you relate how you spent $300K or tuition for the X-wife alone and maybe $400K total on her. You are still very young and during most of your early earnings years you have made less than half of what you earn now so I cannot fathom how you came across $400K to "lose" while living on your own & married while your earnings were so low.
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
Some of this makes more sense then - so when you say you did not make money on the past you were excluding income that your received from your non major job. And when you mention that you lost money in the past your referring to extended losses and not just earned income. Based upon your past posts it did not appear that you earned enough to cash flow $180K in 4 years (25-29). That would have meant another $45K free cash besides taxes and living for those 4 years.
In hindsight it would have been a better case had there been loans for school and or a home purchase - interesting how that is often the items that Bogles want to avoid.
I'm not sure what you are saying or what point you are trying to make, and I have noticed you have a tendency to argue about the past experiences of others. Paid off all her debt right after our wedding and then we moved to Texas for her dental school. I sold some of my RE and had ~$100k specifically set aside in savings to pay for her school, along with retirement savings. I got into public health there and on the side worked at an MMA gym and even at one point stocked shelves at Home Depot in the middle of the night. Between everything, I was making $70k+/yr. I worked almost nonstop for 4yrs and we were living like broke students, but I made more than enough to pay for the remaining cost of her school and all our living costs - I even saved a bit towards retirement.

If it makes you feel better, crunch the numbers to your heart's content. I put an ex-wife through undergrad and dental school debt-free, she contributed nothing financially, and then we divorced. I "lost" nearly all my life's savings, and had little to show after 5 more years of very hard work cash-flowing her school and life. It was a totally life-changing experience and amount of money for a young adult.
Last edited by stoptothink on Tue Jun 25, 2019 11:09 am, edited 1 time in total.

rholt
Posts: 53
Joined: Wed Apr 11, 2007 9:11 am

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by rholt » Tue Jun 25, 2019 10:58 am

Four tickets for a Taylor Swift Reputation Tour concert - at FedEx Field. Stupid expensive for an experience that can only be described as arduous.

smitcat
Posts: 3800
Joined: Mon Nov 07, 2016 10:51 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by smitcat » Tue Jun 25, 2019 11:07 am

stoptothink wrote:
Tue Jun 25, 2019 10:51 am
smitcat wrote:
Tue Jun 25, 2019 10:15 am
stoptothink wrote:
Tue Jun 25, 2019 9:22 am
smitcat wrote:
Tue Jun 25, 2019 7:45 am
stoptothink wrote:
Mon Jun 24, 2019 7:31 pm


Nothing because I willingly spent most of my pre-marriage assets on paying off her pre-marriage debt (education and a car) and then cash-flowing her further education, but I made sure that I would not make the same mistake a second time.
Stoptothink - you have posted this on numerous occasions now and it always has me intrigued. The reason for that is in many ways (but not all) I had a very similar start on life and had/have a fairly good handle on the situations that occur with money. Perhaps not like yourself but I can relate to a bunch of this ebb and flow of savings while having limited income.
So my math just does not allow me to figure out how you actually did this unless these are just anecdotal and not exact historical events. In some of your posts you relate how you spent $300K or tuition for the X-wife alone and maybe $400K total on her. You are still very young and during most of your early earnings years you have made less than half of what you earn now so I cannot fathom how you came across $400K to "lose" while living on your own & married while your earnings were so low.
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
Some of this makes more sense then - so when you say you did not make money on the past you were excluding income that your received from your non major job. And when you mention that you lost money in the past your referring to extended losses and not just earned income. Based upon your past posts it did not appear that you earned enough to cash flow $180K in 4 years (25-29). That would have meant another $45K free cash besides taxes and living for those 4 years.
In hindsight it would have been a better case had there been loans for school and or a home purchase - interesting how that is often the items that Bogles want to avoid.
I'm not sure what you are saying or what point you are trying to make. While completing my MS and before moving to Texas I was working full-time at an athletic development center, training collegiate and professional athletes and helping them prepare for NFL and NBA combines. I did RE on the side, which at that point, was probably more lucrative than my day job. Paid off all her debt right after our wedding and then we moved to Texas for her dental school. I sold some of my RE and had ~$100k specifically set aside in savings to pay for her school, along with retirement savings. I got into public health there and on the side worked at an MMA gym and even at one point stocked shelves at Home Depot in the middle of the night. Between everything, I was making $70k+/yr. I worked almost nonstop for 4yrs and we were living like broke students, but I made more than enough to pay for the remaining cost of her school and all our living costs - I even saved a bit towards retirement.

If it makes you feel better, crunch the numbers to your heart's content. I put an ex-wife through undergrad and dental school debt-free, she contributed nothing financially, and then we divorced. It was a totally life-changing experience and amount of money for a young adult.
[/q


"If it makes you feel better, crunch the numbers to your heart's content."
Again I was intrigued by your numbers, the numbers in your posts that keep coming up.
As I said its your numbers that have me stumped - your past posts indicated that you lost everything in some real estate deal , said it was all you had and it was $300k. And then separately you said you lost near $400K total in a divorce. With those $700K's in losses it was very hard to figure out where the money came from when you were making much less than now.

stoptothink
Posts: 5931
Joined: Fri Dec 31, 2010 9:53 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by stoptothink » Tue Jun 25, 2019 11:59 am

smitcat wrote:
Tue Jun 25, 2019 11:07 am
stoptothink wrote:
Tue Jun 25, 2019 10:51 am
smitcat wrote:
Tue Jun 25, 2019 10:15 am
stoptothink wrote:
Tue Jun 25, 2019 9:22 am
smitcat wrote:
Tue Jun 25, 2019 7:45 am


Stoptothink - you have posted this on numerous occasions now and it always has me intrigued. The reason for that is in many ways (but not all) I had a very similar start on life and had/have a fairly good handle on the situations that occur with money. Perhaps not like yourself but I can relate to a bunch of this ebb and flow of savings while having limited income.
So my math just does not allow me to figure out how you actually did this unless these are just anecdotal and not exact historical events. In some of your posts you relate how you spent $300K or tuition for the X-wife alone and maybe $400K total on her. You are still very young and during most of your early earnings years you have made less than half of what you earn now so I cannot fathom how you came across $400K to "lose" while living on your own & married while your earnings were so low.
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
Some of this makes more sense then - so when you say you did not make money on the past you were excluding income that your received from your non major job. And when you mention that you lost money in the past your referring to extended losses and not just earned income. Based upon your past posts it did not appear that you earned enough to cash flow $180K in 4 years (25-29). That would have meant another $45K free cash besides taxes and living for those 4 years.
In hindsight it would have been a better case had there been loans for school and or a home purchase - interesting how that is often the items that Bogles want to avoid.
I'm not sure what you are saying or what point you are trying to make. While completing my MS and before moving to Texas I was working full-time at an athletic development center, training collegiate and professional athletes and helping them prepare for NFL and NBA combines. I did RE on the side, which at that point, was probably more lucrative than my day job. Paid off all her debt right after our wedding and then we moved to Texas for her dental school. I sold some of my RE and had ~$100k specifically set aside in savings to pay for her school, along with retirement savings. I got into public health there and on the side worked at an MMA gym and even at one point stocked shelves at Home Depot in the middle of the night. Between everything, I was making $70k+/yr. I worked almost nonstop for 4yrs and we were living like broke students, but I made more than enough to pay for the remaining cost of her school and all our living costs - I even saved a bit towards retirement.

If it makes you feel better, crunch the numbers to your heart's content. I put an ex-wife through undergrad and dental school debt-free, she contributed nothing financially, and then we divorced. It was a totally life-changing experience and amount of money for a young adult.
[/q


"If it makes you feel better, crunch the numbers to your heart's content."
Again I was intrigued by your numbers, the numbers in your posts that keep coming up.
As I said its your numbers that have me stumped - your past posts indicated that you lost everything in some real estate deal , said it was all you had and it was $300k. And then separately you said you lost near $400K total in a divorce. With those $700K's in losses it was very hard to figure out where the money came from when you were making much less than now.
I had RE assets worth ~$400k+ (on paper) when I got married. A friend of mine, a very successful RE developer, was developing two planned communities. I owned 6 lots. About 6 months later I sold the two lots I owned in one development and set aside that money to pay for our move and her school. I still had $300k+ (on paper) in RE. In '08, when the market crashed, my ex was beginning her 3rd year of school. The entire development (outside of Monticello, UT) went belly-up and my lots were worth almost nothing. My friend lost everything. I lost, on paper, ~$300k. Nothing happened to the savings I had set aside for her school and I was working full-time and with a side job.

You are just twisting yourself in a pretzel, to what end? I put an ex through undergrad and dental school, debt-free. I lost a lot of money when the RE market crashed. I came out the other end at 30 with close to nothing (in the form of financial assets). You seem to be bizarrely interested in my past, and have done this in several different threads. If it would make your day to investigate further, I'd be more than happy to provide contact info for my ex.

smitcat
Posts: 3800
Joined: Mon Nov 07, 2016 10:51 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by smitcat » Tue Jun 25, 2019 12:51 pm

stoptothink wrote:
Tue Jun 25, 2019 11:59 am
smitcat wrote:
Tue Jun 25, 2019 11:07 am
stoptothink wrote:
Tue Jun 25, 2019 10:51 am
smitcat wrote:
Tue Jun 25, 2019 10:15 am
stoptothink wrote:
Tue Jun 25, 2019 9:22 am


I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
Some of this makes more sense then - so when you say you did not make money on the past you were excluding income that your received from your non major job. And when you mention that you lost money in the past your referring to extended losses and not just earned income. Based upon your past posts it did not appear that you earned enough to cash flow $180K in 4 years (25-29). That would have meant another $45K free cash besides taxes and living for those 4 years.
In hindsight it would have been a better case had there been loans for school and or a home purchase - interesting how that is often the items that Bogles want to avoid.
I'm not sure what you are saying or what point you are trying to make. While completing my MS and before moving to Texas I was working full-time at an athletic development center, training collegiate and professional athletes and helping them prepare for NFL and NBA combines. I did RE on the side, which at that point, was probably more lucrative than my day job. Paid off all her debt right after our wedding and then we moved to Texas for her dental school. I sold some of my RE and had ~$100k specifically set aside in savings to pay for her school, along with retirement savings. I got into public health there and on the side worked at an MMA gym and even at one point stocked shelves at Home Depot in the middle of the night. Between everything, I was making $70k+/yr. I worked almost nonstop for 4yrs and we were living like broke students, but I made more than enough to pay for the remaining cost of her school and all our living costs - I even saved a bit towards retirement.

If it makes you feel better, crunch the numbers to your heart's content. I put an ex-wife through undergrad and dental school debt-free, she contributed nothing financially, and then we divorced. It was a totally life-changing experience and amount of money for a young adult.
[/q


"If it makes you feel better, crunch the numbers to your heart's content."
Again I was intrigued by your numbers, the numbers in your posts that keep coming up.
As I said its your numbers that have me stumped - your past posts indicated that you lost everything in some real estate deal , said it was all you had and it was $300k. And then separately you said you lost near $400K total in a divorce. With those $700K's in losses it was very hard to figure out where the money came from when you were making much less than now.
I had RE assets worth ~$400k+ (on paper) when I got married. A friend of mine, a very successful RE developer, was developing two planned communities. I owned 6 lots. About 6 months later I sold the two lots I owned in one development and set aside that money to pay for our move and her school. I still had $300k+ (on paper) in RE. In '08, when the market crashed, my ex was beginning her 3rd year of school. The entire development (outside of Monticello, UT) went belly-up and my lots were worth almost nothing. My friend lost everything. I lost, on paper, ~$300k. Nothing happened to the savings I had set aside for her school and I was working full-time and with a side job.

You are just twisting yourself in a pretzel, to what end? I put an ex through undergrad and dental school, debt-free. I lost a lot of money when the RE market crashed. I came out the other end at 30 with close to nothing (in the form of financial assets). You seem to be bizarrely interested in my past, and have done this in several different threads. If it would make your day to investigate further, I'd be more than happy to provide contact info for my ex.
As I said your past is similar in some ways to mine but your math never lines up.
Once I asked if your stories were just anecdotal but you said they were not.
No investigation at all - just information from your posts here on this site.

stoptothink
Posts: 5931
Joined: Fri Dec 31, 2010 9:53 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by stoptothink » Tue Jun 25, 2019 1:07 pm

smitcat wrote:
Tue Jun 25, 2019 12:51 pm
stoptothink wrote:
Tue Jun 25, 2019 11:59 am
smitcat wrote:
Tue Jun 25, 2019 11:07 am
stoptothink wrote:
Tue Jun 25, 2019 10:51 am
smitcat wrote:
Tue Jun 25, 2019 10:15 am


Some of this makes more sense then - so when you say you did not make money on the past you were excluding income that your received from your non major job. And when you mention that you lost money in the past your referring to extended losses and not just earned income. Based upon your past posts it did not appear that you earned enough to cash flow $180K in 4 years (25-29). That would have meant another $45K free cash besides taxes and living for those 4 years.
In hindsight it would have been a better case had there been loans for school and or a home purchase - interesting how that is often the items that Bogles want to avoid.
I'm not sure what you are saying or what point you are trying to make. While completing my MS and before moving to Texas I was working full-time at an athletic development center, training collegiate and professional athletes and helping them prepare for NFL and NBA combines. I did RE on the side, which at that point, was probably more lucrative than my day job. Paid off all her debt right after our wedding and then we moved to Texas for her dental school. I sold some of my RE and had ~$100k specifically set aside in savings to pay for her school, along with retirement savings. I got into public health there and on the side worked at an MMA gym and even at one point stocked shelves at Home Depot in the middle of the night. Between everything, I was making $70k+/yr. I worked almost nonstop for 4yrs and we were living like broke students, but I made more than enough to pay for the remaining cost of her school and all our living costs - I even saved a bit towards retirement.

If it makes you feel better, crunch the numbers to your heart's content. I put an ex-wife through undergrad and dental school debt-free, she contributed nothing financially, and then we divorced. It was a totally life-changing experience and amount of money for a young adult.
[/q


"If it makes you feel better, crunch the numbers to your heart's content."
Again I was intrigued by your numbers, the numbers in your posts that keep coming up.
As I said its your numbers that have me stumped - your past posts indicated that you lost everything in some real estate deal , said it was all you had and it was $300k. And then separately you said you lost near $400K total in a divorce. With those $700K's in losses it was very hard to figure out where the money came from when you were making much less than now.
I had RE assets worth ~$400k+ (on paper) when I got married. A friend of mine, a very successful RE developer, was developing two planned communities. I owned 6 lots. About 6 months later I sold the two lots I owned in one development and set aside that money to pay for our move and her school. I still had $300k+ (on paper) in RE. In '08, when the market crashed, my ex was beginning her 3rd year of school. The entire development (outside of Monticello, UT) went belly-up and my lots were worth almost nothing. My friend lost everything. I lost, on paper, ~$300k. Nothing happened to the savings I had set aside for her school and I was working full-time and with a side job.

You are just twisting yourself in a pretzel, to what end? I put an ex through undergrad and dental school, debt-free. I lost a lot of money when the RE market crashed. I came out the other end at 30 with close to nothing (in the form of financial assets). You seem to be bizarrely interested in my past, and have done this in several different threads. If it would make your day to investigate further, I'd be more than happy to provide contact info for my ex.
As I said your past is similar in some ways to mine but your math never lines up.
Once I asked if your stories were just anecdotal but you said they were not.
No investigation at all - just information from your posts here on this site.
I've explained the math countless times, and now in more than one thread. I think you are having a hard reconciling the RE portion as much of my losses were on paper. Makes sense, we are just looking at it from different accounting perspectives.

I will say that I have no interest in further attempting to explain it to you. I find it odd how interested you are in confirming my financial losses and I've noticed you frequently have this type of dialogue with other posters. That's a lesson for me. I'll just remember in the future to not respond to your queries because it just goes on in circles forever and ruins the thread. :beer

Starper
Posts: 113
Joined: Sun Oct 26, 2014 10:02 pm

Re: what was your worst major purchase mine is a 2019 mazda3

Post by Starper » Tue Jun 25, 2019 2:26 pm

stoptothink wrote:
Sat Jun 22, 2019 7:38 am
mptfan wrote:
Sat Jun 22, 2019 7:23 am
stoptothink wrote:
Fri Jun 21, 2019 4:00 pm
\
No. I put the ex through school, often working 2 jobs while in school myself. She didn't earn a penny during our 5yrs of marriage.
Wow. Does she at least give you free dental care?
I honestly don't know (and don't care) if she is practicing. This is exactly why I suggest people pause when they want to take care of their SO's education debt. We married during her senior year of undergrad. She had a boatload of debt that I immediately paid off, then I spent the next 4yrs cash-flowing the rest of her schooling. She came into the marriage with a negative 5-figure networth, and then left it debt-free (with a DDS) and a positive 5-figure networth, having not worked a day.
If you spent $300k on escorts instead, assuming $300 per session once a week, that would be 20 years of fun. Not many marriages last that long. Just saying.

smitcat
Posts: 3800
Joined: Mon Nov 07, 2016 10:51 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by smitcat » Tue Jun 25, 2019 2:28 pm

stoptothink wrote:
Tue Jun 25, 2019 1:07 pm
smitcat wrote:
Tue Jun 25, 2019 12:51 pm
stoptothink wrote:
Tue Jun 25, 2019 11:59 am
smitcat wrote:
Tue Jun 25, 2019 11:07 am
stoptothink wrote:
Tue Jun 25, 2019 10:51 am


I'm not sure what you are saying or what point you are trying to make. While completing my MS and before moving to Texas I was working full-time at an athletic development center, training collegiate and professional athletes and helping them prepare for NFL and NBA combines. I did RE on the side, which at that point, was probably more lucrative than my day job. Paid off all her debt right after our wedding and then we moved to Texas for her dental school. I sold some of my RE and had ~$100k specifically set aside in savings to pay for her school, along with retirement savings. I got into public health there and on the side worked at an MMA gym and even at one point stocked shelves at Home Depot in the middle of the night. Between everything, I was making $70k+/yr. I worked almost nonstop for 4yrs and we were living like broke students, but I made more than enough to pay for the remaining cost of her school and all our living costs - I even saved a bit towards retirement.

If it makes you feel better, crunch the numbers to your heart's content. I put an ex-wife through undergrad and dental school debt-free, she contributed nothing financially, and then we divorced. It was a totally life-changing experience and amount of money for a young adult.
[/q


"If it makes you feel better, crunch the numbers to your heart's content."
Again I was intrigued by your numbers, the numbers in your posts that keep coming up.
As I said its your numbers that have me stumped - your past posts indicated that you lost everything in some real estate deal , said it was all you had and it was $300k. And then separately you said you lost near $400K total in a divorce. With those $700K's in losses it was very hard to figure out where the money came from when you were making much less than now.
I had RE assets worth ~$400k+ (on paper) when I got married. A friend of mine, a very successful RE developer, was developing two planned communities. I owned 6 lots. About 6 months later I sold the two lots I owned in one development and set aside that money to pay for our move and her school. I still had $300k+ (on paper) in RE. In '08, when the market crashed, my ex was beginning her 3rd year of school. The entire development (outside of Monticello, UT) went belly-up and my lots were worth almost nothing. My friend lost everything. I lost, on paper, ~$300k. Nothing happened to the savings I had set aside for her school and I was working full-time and with a side job.

You are just twisting yourself in a pretzel, to what end? I put an ex through undergrad and dental school, debt-free. I lost a lot of money when the RE market crashed. I came out the other end at 30 with close to nothing (in the form of financial assets). You seem to be bizarrely interested in my past, and have done this in several different threads. If it would make your day to investigate further, I'd be more than happy to provide contact info for my ex.
As I said your past is similar in some ways to mine but your math never lines up.
Once I asked if your stories were just anecdotal but you said they were not.
No investigation at all - just information from your posts here on this site.
I've explained the math countless times, and now in more than one thread. I think you are having a hard reconciling the RE portion as much of my losses were on paper. Makes sense, we are just looking at it from different accounting perspectives.

I will say that I have no interest in further attempting to explain it to you. I find it odd how interested you are in confirming my financial losses and I've noticed you frequently have this type of dialogue with other posters. That's a lesson for me. I'll just remember in the future to not respond to your queries because it just goes on in circles forever and ruins the thread. :beer

When you post the same thing a dozen times or so I would think that you were hoping someone would read it.
When you get someone to read the thread I would think you want feedback.
There may/might be other reasons for posting I guess.

hale2
Posts: 218
Joined: Sat Feb 15, 2014 5:54 pm

Re: what was your worst major purchase mine is a 2019 mazda3

Post by hale2 » Tue Jun 25, 2019 3:45 pm

smitcat wrote:
Tue Jun 25, 2019 10:15 am
stoptothink wrote:
Tue Jun 25, 2019 9:22 am
smitcat wrote:
Tue Jun 25, 2019 7:45 am
stoptothink wrote:
Mon Jun 24, 2019 7:31 pm
deltaneutral83 wrote:
Mon Jun 24, 2019 2:42 pm

What would a prenupt in the first one have done? You spent the money on tuition during the marriage, correct?
Nothing because I willingly spent most of my pre-marriage assets on paying off her pre-marriage debt (education and a car) and then cash-flowing her further education, but I made sure that I would not make the same mistake a second time.
Stoptothink - you have posted this on numerous occasions now and it always has me intrigued. The reason for that is in many ways (but not all) I had a very similar start on life and had/have a fairly good handle on the situations that occur with money. Perhaps not like yourself but I can relate to a bunch of this ebb and flow of savings while having limited income.
So my math just does not allow me to figure out how you actually did this unless these are just anecdotal and not exact historical events. In some of your posts you relate how you spent $300K or tuition for the X-wife alone and maybe $400K total on her. You are still very young and during most of your early earnings years you have made less than half of what you earn now so I cannot fathom how you came across $400K to "lose" while living on your own & married while your earnings were so low.
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
Some of this makes more sense then - so when you say you did not make money on the past you were excluding income that your received from your non major job. And when you mention that you lost money in the past your referring to extended losses and not just earned income. Based upon your past posts it did not appear that you earned enough to cash flow $180K in 4 years (25-29). That would have meant another $45K free cash besides taxes and living for those 4 years.
In hindsight it would have been a better case had there been loans for school and or a home purchase - interesting how that is often the items that Bogles want to avoid.
However you calculate it, the guy got screwed.

mptfan
Posts: 5347
Joined: Mon Mar 05, 2007 9:58 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by mptfan » Tue Jun 25, 2019 4:02 pm

stoptothink wrote:
Tue Jun 25, 2019 9:22 am
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
This is why I don't necessarily agree with those who say "When you get married, your spouse's debt becomes your debt and you should treat it as your debt and do whatever you can to pay it off." It's not that simple, and I certainly don't think that is good advice for debt that was incurred by a spouse before the marriage. I think it's fair to expect both spouses to work and cash flow expenses that are incurred during the marriage even if the expenses are directly related to one spouse, for example, if one spouse goes to school during the marriage. But I don't think it's fair to expect one spouse to sell assets or use savings to pay for the other's previously incurred debts just because.

miles monroe
Posts: 1276
Joined: Mon Jan 20, 2014 12:14 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by miles monroe » Tue Jun 25, 2019 4:10 pm

bubbadog wrote:
Sat Jun 22, 2019 12:02 pm
The lighthouse is super cool (google it and you will see).
sorry about your financial loss -- but i agree -- that is super cool!

even has it's own facebook page. :)

here's an article i found interesting.

thanks for your post!

https://fox8.com/2017/07/04/woman-calls ... a-pioneer/

bubbadog
Posts: 807
Joined: Wed Mar 26, 2014 9:17 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by bubbadog » Tue Jun 25, 2019 4:36 pm

miles monroe wrote:
Tue Jun 25, 2019 4:10 pm
bubbadog wrote:
Sat Jun 22, 2019 12:02 pm
The lighthouse is super cool (google it and you will see).
sorry about your financial loss -- but i agree -- that is super cool!

even has it's own facebook page. :)

here's an article i found interesting.

thanks for your post!

https://fox8.com/2017/07/04/woman-calls ... a-pioneer/
Thanks!

I am going up on July 6th and she is going to give me a tour.

Leaving my checkbook at home.

smitcat
Posts: 3800
Joined: Mon Nov 07, 2016 10:51 am

Re: what was your worst major purchase mine is a 2019 mazda3

Post by smitcat » Tue Jun 25, 2019 4:39 pm

mptfan wrote:
Tue Jun 25, 2019 4:02 pm
stoptothink wrote:
Tue Jun 25, 2019 9:22 am
I finished undergrad at 20 (with a nest egg-scholarship athlete, worked and saved stipend) then worked full-time through my MS (fully funded). By 23, I had an MS and ~$100k net worth. I got into RE development in '05 (24) and got married in '06. I paid off her undergrad and car debt (~$50K) then sold some of my RE holdings so I could pay for her school before we moved to Texas in fall '06. While the rest of my RE investments eventually went to zero, I still had ~$100k in cash and modest (mid 5-figures) retirement savings. I then worked full-time, and then some, to put her through school the next 4yrs.

I didn't have $400k to lose, the lost savings part was ~$100k ($50k literally within a week of our marriage to pay her previous debt), the rest was cash-flowed as I worked (age 25-29). I just looked up what her dental school cost, probably ~$135k all in (not including living costs). So ~$160k total on her education and another $20k paying off her car. Yes, when I throw out the $300k number it is lumping everything together, including living costs and a (way too expensive) wedding, because she didn't earn a penny in 5yrs. So, it is probably more honest to say my worst major purchase was a marriage, which cost me $300k+ before the age of 30. For someone who grew up like I did, that seemed like all the money in the world. It was financially, emotionally, and psychologically devastating.
This is why I don't necessarily agree with those who say "When you get married, your spouse's debt becomes your debt and you should treat it as your debt and do whatever you can to pay it off." It's not that simple, and I certainly don't think that is good advice for debt that was incurred by a spouse before the marriage. I think it's fair to expect both spouses to work and cash flow expenses that are incurred during the marriage even if the expenses are directly related to one spouse, for example, if one spouse goes to school during the marriage. But I don't think it's fair to expect one spouse to sell assets or use savings to pay for the other's previously incurred debts just because.
Yes exactly - additionally from what has happened around here when one spouse supports the other through a professional school such as dental school then there is a payment assessed for future income as well. The easier it is to prove that the support was near 100% the easier it would be to get this ruling.

User avatar
JamalJones
Posts: 154
Joined: Sat May 28, 2016 12:53 pm
Location: Virgo Super Cluster

Re: what was your worst major purchase mine is a 2019 mazda3

Post by JamalJones » Tue Jun 25, 2019 6:56 pm

stoptothink wrote:
Sat Jun 22, 2019 7:38 am
mptfan wrote:
Sat Jun 22, 2019 7:23 am
stoptothink wrote:
Fri Jun 21, 2019 4:00 pm
\
No. I put the ex through school, often working 2 jobs while in school myself. She didn't earn a penny during our 5yrs of marriage.
Wow. Does she at least give you free dental care?
I honestly don't know (and don't care) if she is practicing. This is exactly why I suggest people pause when they want to take care of their SO's education debt. We married during her senior year of undergrad. She had a boatload of debt that I immediately paid off, then I spent the next 4yrs cash-flowing the rest of her schooling. She came into the marriage with a negative 5-figure networth, and then left it debt-free (with a DDS) and a positive 5-figure networth, having not worked a day.
I'm going to be honest. That's hot. That's a hot way to live (for her).
TSP + Vanguard Roth IRA + Vanguard Taxable: 80% equities / 20% bonds | Yap, yap, yap, yap, - the bottom line is ya gotta buckle up the chin strap!

bubbadog
Posts: 807
Joined: Wed Mar 26, 2014 9:17 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by bubbadog » Mon Jul 08, 2019 5:12 pm

bubbadog wrote:
Tue Jun 25, 2019 4:36 pm
miles monroe wrote:
Tue Jun 25, 2019 4:10 pm
bubbadog wrote:
Sat Jun 22, 2019 12:02 pm
The lighthouse is super cool (google it and you will see).
sorry about your financial loss -- but i agree -- that is super cool!

even has it's own facebook page. :)

here's an article i found interesting.

thanks for your post!

https://fox8.com/2017/07/04/woman-calls ... a-pioneer/
Thanks!

I am going up on July 6th and she is going to give me a tour.

Leaving my checkbook at home.
Follow up for anyone interested.

I made the trip Saturday and got a great tour of the lighthouse. It has 3 bedrooms, 1 full bath, living room, kitchen, laundry room, basement with an extra bedroom, and a crow's nest outside surrounding the light.

The owner is a super nice lady from Virginia. She could not have been more gracious.

She offered to have us up again for an overnight visit. I think I will probably take her up on it.

:sharebeer

shariq1989
Posts: 29
Joined: Mon Nov 27, 2017 11:36 am

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by shariq1989 » Mon Jul 08, 2019 7:16 pm

LiterallyIronic wrote:
Tue Jun 25, 2019 10:18 am
This has been a fun thread to read (and I feel really bad for StopToThink).

For me, the answer has got to be my first undergraduate degree. I started school in 2001, studying Computer Science. Got partway through my sophomore year and hit a wall - I could not handle the material. Took some time off from school to work and figure out what I wanted to do with my life. Decided to switch from CS to IT. Did that for exactly one semester to know that was really not what I wanted to do. Took more generals before deciding to switch to Business Management. Finally graduated in 2008, after seven years. Got a job making $9.50/hour and never used that degree one little bit.

It wasn't even the financial cost of the degree that was the real killer - that belongs to the fact that I missed the entire stock market run-up because I was working dead-end call center jobs until 2013 when I went back to school until 2016 and didn't start investing until then, at age 32.
What did you end up going to school for and doing? I'm way more mature now and can actually handle school well compared to when I was in my early 20s

Dyloot
Posts: 152
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Re: what was your worst major purchase mine is a 2019 mazda3

Post by Dyloot » Mon Jul 08, 2019 11:54 pm

MotoTrojan wrote:
Fri Jun 21, 2019 11:38 am
markcoop wrote:
Fri Jun 21, 2019 11:34 am
Oddly enough, I think my 2018 Mazda 3 was one of the better car purchases I ever made.
+1. Got a killer deal thanks to the new 2019 design too. Never would've bought a brand new car otherwise (it was cheaper than any used ones on the market with low miles). Was a 1-1 swap more or less with my 60K mile European sports car. True Boglehead car owner now.

New ones look nice. I am sorry to hear you've had a bad experience OP.
+2. Love my 2018 Mazda 3.

McGilicutty
Posts: 187
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Re: what was your worst major purchase? mine is a 2019 mazda3

Post by McGilicutty » Tue Jul 09, 2019 2:44 am

Nissan 350z convertible. I had all sorts of problems with it. One of the worst problems is that the thing wouldn't even start half the time. I had it towed to the dealer more than once.

Eventually I hired a lawyer to sue. They didn't take the car back, but we got something like $10K out of them of which I think I got to keep like $6K.

I ended up trading the 350z in for a Honda which was super reliable.

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TomatoTomahto
Posts: 9110
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Re: what was your worst major purchase? mine is a 2019 mazda3

Post by TomatoTomahto » Tue Jul 09, 2019 4:58 am

bubbadog wrote:
Mon Jul 08, 2019 5:12 pm
Follow up for anyone interested.

I made the trip Saturday and got a great tour of the lighthouse. It has 3 bedrooms, 1 full bath, living room, kitchen, laundry room, basement with an extra bedroom, and a crow's nest outside surrounding the light.

The owner is a super nice lady from Virginia. She could not have been more gracious.

She offered to have us up again for an overnight visit. I think I will probably take her up on it.
Awesome. You should take her up on the offer. Best story in a while around here.
Okay, I get it; I won't be political or controversial. The Earth is flat.

bubbadog
Posts: 807
Joined: Wed Mar 26, 2014 9:17 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by bubbadog » Tue Jul 09, 2019 6:57 am

TomatoTomahto wrote:
Tue Jul 09, 2019 4:58 am
bubbadog wrote:
Mon Jul 08, 2019 5:12 pm
Follow up for anyone interested.

I made the trip Saturday and got a great tour of the lighthouse. It has 3 bedrooms, 1 full bath, living room, kitchen, laundry room, basement with an extra bedroom, and a crow's nest outside surrounding the light.

The owner is a super nice lady from Virginia. She could not have been more gracious.

She offered to have us up again for an overnight visit. I think I will probably take her up on it.
Awesome. You should take her up on the offer. Best story in a while around here.
Thanks

LiterallyIronic
Posts: 1256
Joined: Sat Dec 05, 2015 10:36 am

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by LiterallyIronic » Tue Jul 09, 2019 9:41 am

shariq1989 wrote:
Mon Jul 08, 2019 7:16 pm
LiterallyIronic wrote:
Tue Jun 25, 2019 10:18 am
This has been a fun thread to read (and I feel really bad for StopToThink).

For me, the answer has got to be my first undergraduate degree. I started school in 2001, studying Computer Science. Got partway through my sophomore year and hit a wall - I could not handle the material. Took some time off from school to work and figure out what I wanted to do with my life. Decided to switch from CS to IT. Did that for exactly one semester to know that was really not what I wanted to do. Took more generals before deciding to switch to Business Management. Finally graduated in 2008, after seven years. Got a job making $9.50/hour and never used that degree one little bit.

It wasn't even the financial cost of the degree that was the real killer - that belongs to the fact that I missed the entire stock market run-up because I was working dead-end call center jobs until 2013 when I went back to school until 2016 and didn't start investing until then, at age 32.
What did you end up going to school for and doing? I'm way more mature now and can actually handle school well compared to when I was in my early 20s
I ended up going to school for the second time and got a degree in, get this, Computer Science. I sat down in my first CS class in September 2001 and took my last CS final exam in December 2016. I'm now a software developer. My degree in Business Management isn't even on my résumé anymore.

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Cycle
Posts: 1366
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Location: Minneapolis

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by Cycle » Tue Jul 09, 2019 9:58 am

I had always lived in neighborhoods where it was possible to be car free (north side Chicago, south Minneapolis), yet I paid for and used cars for the first ten years of my working career. I never knew about non-car culture until I met a friend who was a bike commuter. Even then it took probably two years before the peer pressure got to me.

This has likely led to a full year of additional work in lost savings from that expensive and evil habit ($5k/yr for me). I won the car game though at 32, and am now a prodigious accumulator of wealth. Still spending $5k/yr though on DWs cage.
Never look back unless you are planning to go that way

thehappycampers
Posts: 10
Joined: Sun Jun 04, 2017 1:46 pm

Re: what was your worst major purchase? mine is a 2019 mazda3

Post by thehappycampers » Thu Jul 11, 2019 8:53 am

bubbadog wrote:
Tue Jul 09, 2019 6:57 am
TomatoTomahto wrote:
Tue Jul 09, 2019 4:58 am
bubbadog wrote:
Mon Jul 08, 2019 5:12 pm
Follow up for anyone interested.

I made the trip Saturday and got a great tour of the lighthouse. It has 3 bedrooms, 1 full bath, living room, kitchen, laundry room, basement with an extra bedroom, and a crow's nest outside surrounding the light.

The owner is a super nice lady from Virginia. She could not have been more gracious.

She offered to have us up again for an overnight visit. I think I will probably take her up on it.
Awesome. You should take her up on the offer. Best story in a while around here.
Thanks
Look at all the benefits you're getting by buying this then walking away! Maybe this won't be your worst purchase!

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