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Posted: 5/2/2017 8:25:51 AM EST
[#1]
Friend with no balls married a really despicable cunt with two kids from a prior marriage. One of them is a 300+# disgusting fat slug. She has all types of VD, and has even passed some of it on to their child in common because she can't stop scratching her itchy gash. He owned a thriving bus company with over 40 pieces of equipment.
She got into his books and diverted all the money to this fat disgusting pig. Bought her cars, which she wrecked (drunk), double orders of restaurant food every night, every fucking thing she wants, no matter WHAT. Two years later, all the equipment is gone, the business is closed and he's in bankruptcy. She is still in his finances, and now has full access to his email. I'm sending him a fake statement with an email stating: "Yo dude, that brokerage account you inherited from you-know-who is now up over $176,000.00. Let me know what you want to do." He has no balls. He will not do anything except complain about how she is ruining his life. He will not take back even a single inch of ground that she took from him. His downward spiral continues. He is coming over tomorrow. I told him she is not welcome. |
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Posted: 5/2/2017 8:31:46 AM EST
[#2]
Also me again,
I keep buying guns even when I lose each new one in boating accidents. 
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Posted: 5/2/2017 8:35:59 AM EST
[#3]
My ex-wife somehow managed to blow up the credit card $6000 to $8000 every month between spending tens of thousands on body modifications and presents for her family.
Of course she was somehow unable to find a job, and even blamed me for forcing her to. Eventually she just opened up a checking account and started funneling money from my savings and checking accounts into her own. |
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Posted: 5/2/2017 9:05:39 AM EST
[#4]
Guy I worked with, super hard worker. Paid his house off in two years and had absolutely no debt for 20 years all while stuffing cash in the bank.....
Got.a couple years away from retirement and started complaining that his investments weren't making enough money. Took all of it and went in on a gold harvesting boat in Canada. He even borrowed money against his house for the big win. Lost all of it. Ended up working years past retirement just to make ends meet. |
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Posted: 5/2/2017 9:24:29 AM EST
[#5]
Quote HistoryQuoted:
Also me again, I keep buying guns even when I lose each new one in boating accidents. 
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Posted: 5/2/2017 9:30:03 AM EST
[#6]
Quote HistoryQuoted:
Maybe you should sell the boat. Quote HistoryQuoted:
Quoted:
Also me again, I keep buying guns even when I lose each new one in boating accidents.
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Posted: 5/2/2017 9:32:08 AM EST
[#7]
Knew somebody who started a business in their mid 20s.
Financed a new truck as part of it. Business took off, money started flowing in. Rather then paying off the debts of a startup company, buying a house or doing other adult things, he rented a nice apartment, blew thousands on customizing his cars and ran up his credit cards, always having a balance on them. Ate out every night, partied on the weekends. When the business suddenly went south after 2 years he found himself with a mountain of bills and debt and realized that with no formal education and the stigma of self employment, he was unemployable at all but the most menial of jobs. He worked two shitty jobs to try to make ends meet but way more needed to go out then was coming in. Truck got repossessed, credit got shot, almost wound up evicted from his apartment. I regret almost no part of it. It was a valuable, painful life lesson. It also was why I met my current better half and started me down the pathway to my current career. These days I am extremely cheap and consider myself a saver more then a spender. |
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Posted: 5/2/2017 9:34:48 AM EST
[#8]
my buddy's favorite thing to do is to custom order brand new cars, take delivery, drive them a month, and trade them in on the next one. Wife, 2 kids, rented apartment always, but a damn fast car. Pretty sure his most recent was running $2k/month after all the other depreciation was rolled into it..
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Posted: 5/2/2017 9:36:25 AM EST
[#9]
Just say NO to time shares.
NOT me, the in-laws bought into one. I warned them, but they did it anyway. They'll wind up taking a big loss to get out of it, or a bigger loss if they don't |
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Posted: 5/2/2017 9:37:39 AM EST
[#10]
Co-signed a car loan so a "friend" can get a good interest rate
He got hooked on heroin Defaulted on the loan I'm out $10,000 and my credit rating took a hit |
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Posted: 5/2/2017 9:38:15 AM EST
[#11]
My in-laws cancelled my father-in-law's life insurance while he was undergoing radiation treatment for lung cancer, because they thought he was getting better, and they didn't want to pay the monthly payment. He dies about 6 months later, and mom-in-law is left with nothing. She continues to make bad decisions to this day that leave us just utterly perplexed.
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Posted: 5/2/2017 9:39:41 AM EST
[#12]
Quote HistoryQuoted:
I think he has to keep buying new boats too. 
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Posted: 5/2/2017 9:41:51 AM EST
[#13]
Quote HistoryQuoted:
So many people in that generation have no clue on retirement. They think they are going to just be able to live off SS. I guess you could if you plan for it, but he's definitely not planning for it! Quote HistoryQuoted:
Quoted:
One of my best friends is 50 this year, has 0 saved for retirement and is planning on getting a 40k pool put into a house he has no equity in because he just started paying principal at the 10 year Mark on his 30 year interest only loan..... 
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Posted: 5/2/2017 9:44:55 AM EST
[#14]
A guy I knew was a hot shot tech salesman at the end of .com boom.
Signed with new company. Got 200,000 options on signing. (I don't know his strike price.) Stock topped at $200+ making him worth $40MM on paper. Stock dropped big before he got to exercise the first 25%. Cashed that in for a couple mil. Him and soon to be ex wife spent a bunch. His financial adviser asked him "well, do you believe in the company?" Hells ya! Held that stock instead of diversifying and lost a bunch. Still made a couple mil but should have held on to much more of it. |
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Posted: 5/2/2017 9:44:57 AM EST
[#15]
One of my best friends turns 30 this month, still lives with mom and dad, underemployed severely and just bought a 2007 BMW 7 series.
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Posted: 5/2/2017 9:46:32 AM EST
[#16]
married a stripper
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Posted: 5/2/2017 9:46:41 AM EST
[#17]
Friend of mine met an old-time farmer who was trying to sell a bunch of cattle. Made him an offer on 50 unbranded cattle for several thousand dollars and the old farmer said he could keep the cows on his land, but my friend would have to take care of them. These 50 cows were only a fraction of what the farmer had. Friend paid, when time came to brand them, the old farmer said "Sorry, we had a flood and your cows all got washed away."
Every cow on this old mans property were now branded. Couldn't prove the cows weren't washed away because there is a river running through the guys property. Friend was going to go out in the middle of the night and shoot every cow this old guy had. Took a lot of convincing for him to finally realize that wouldn't be a good idea. No doubt in anybody's mind it was a scam. |
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Posted: 5/2/2017 9:46:46 AM EST
[#18]
Quote HistoryQuoted:
Tell me about it http://4.bp.blogspot.com/-W8QXst-ND_I/ULNYi4GSMNI/AAAAAAAAKlQ/661vth9e8Ts/s1600/boat.jpg 
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Posted: 5/2/2017 9:47:10 AM EST
[#19]
I used to work at KODAK and a friend I worked there with spent 80000 on stock when he got his inheritance. As the company went down he held on because he was sure it would bounce back . It didn't
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Posted: 5/2/2017 9:48:45 AM EST
[#20]
A few years ago after the wife got pregnant she brought home a Supercharged Range Rover because we needed a vehicle for a baby. I'm pretty sure that's taken more years off of my life than the kid has so far.
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Posted: 5/2/2017 9:49:25 AM EST
[#21]
Quoted:
Ill start. I have a family member who doesnt think alot. Works hard though. Makes OK money (poor for ARFCOM millionaires) Just bought a house. Immediately opened a HELOC. Decided he needed a truck. Went to the ford dealership. Picked out a brand new F350, diesel, 4x4, SRW, king ranch edition. Sooo..... $70k i think? he wouldnt tell me but i think that's an appropriate guess. Anyways, How do you think he worked out the financials for this truck? If you guessed "Maxed out his HELOC for $15,000 as a down payment, then took a 6 year loan on the remaining." Then you would be correct. It might even be a 10 year loan but i cant get a straight answer. He even has the balls to ridicule me for driving a "piece of shit" T100 that's dented and rusted. That i own. My BIL got a 7 year loan on a used Lincoln truck. So, it can be worse. |
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Posted: 5/2/2017 9:50:34 AM EST
[#22]
Former co-worker of my Dad's.
Had a nice older house and two older vehicles. Decided to have a house built in one of those cookie cutter subdivisions that cost him $265k(in 2004 dollars.) He then turned around and bought two new Jeeps, ended up having one of them repo'ed. Got into the pond installing business, blew $2000 on a beat and rusted to hell 80s Chevy dump truck to do his work. Ended up raging at my dad while they were on a job at their day job and my dad told him to GTFO his truck on the side of the road. This asshat also ruined my sister's old car when my dad lent it to him, blew the electrical box on a 1990 Ford Festiva. |
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Posted: 5/2/2017 9:52:15 AM EST
[#23]
I could write a book on everything I've done.
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Posted: 5/2/2017 9:55:35 AM EST
[#24]
I did some dumb stiff in my youth.
For example, when I was working and going to college my total bills were about $500 a month at that time, I had a paid off land rover and cheap rent. I think I was pulling in right at $500 a week. So, I went ahead and bought a $20,000 car, where my note was about $400 and then my insurance went up $100. So, I had a whole weeks worth of work out the month to pay for a car not. 
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Posted: 5/2/2017 9:55:37 AM EST
[#25]
My housekeeper's assistant bought a dog. And financed it. 900$. For a dog!!!!
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Posted: 5/2/2017 9:57:04 AM EST
[#26]
Quote HistoryQuoted:
Just say NO to time shares. NOT me, the in-laws bought into one. I warned them, but they did it anyway. They'll wind up taking a big loss to get out of it, or a bigger loss if they don't |
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Posted: 5/2/2017 9:57:20 AM EST
[#27]
Horrible financial decisions... joining arfcom and looking at "deal alet" or "arfpocalypse" threads
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Posted: 5/2/2017 9:58:01 AM EST
[#28]
Father in law buys $110,000 RV. Tries to sell it 4 years later. Offered 29k for it.
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Posted: 5/2/2017 9:59:26 AM EST
[#29]
I once earned a BA in History.
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Posted: 5/2/2017 9:59:54 AM EST
[#30]
Whoever paid 350k and foreclosed on the house that I paid 170k for which has since risen back up to 240k.
My cousin who had bad credit and decided to agree to a 15% loan on a Jeep Patriot. My aunt and uncle who inherited nearly 1M and squandered it within several years time on jewerly, clothes, new cars, and expensive purebred dogs - I'm absolutely amazed by how fast some people can blow through an inheritence like that. |
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Posted: 5/2/2017 10:03:47 AM EST
[#31]
it seems to me that the 'average" person makes these three big mistakes:
1. Buys too much car 2. Carries a credit card balance 3. Puts their investments into just one stock or one sector of investment instead of diversifying, or makes other classic investing mistakes like trying to time the market. These stories in this thread are about big, dramatic fuckups. But you can slowly piss away your money on the quiet by doing those three things I listed above. A lot of people reading this thread would have $500,000 more net worth if they hadn't slowly eroded it. |
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Posted: 5/2/2017 10:09:42 AM EST
[#32]
There isn't enough space on all of arfcom to relate all the bad decisions my ex-wife has made. Here's just one example: She ran all her credit cards up to the max - she was probably $5K in debt, at over 20% APR. She couldn't make the minimum payments, so she took out a title loan (at about 300% APR) on her only car to pay off the credit cards. Once the credit cards were paid off, she ran them all back up again while still paying off the title loan. Once she realized that she couldn't make the credit card payments AND the title loan payment, she took out a personal loan from the Indian Reservation people that advertise on late-night TV (at God only knows what kind of interest rate) to make a few back payments on the title loan and the credit cards.
While she and I were still married, we went two years in arrears on our property taxes (that I never knew about), she applied for at least two credit accounts in my name (that I never knew about), we refinanced our house, which we then lost in a bankruptcy... we were making decent money, but could never seem to get ahead. Now that I'm single, it's fucking AMAZING how much money I have left at the end of the month. |
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Posted: 5/2/2017 10:12:51 AM EST
[#33]
Quote HistoryQuoted:
it seems to me that the 'average" person makes these three big mistakes: 1. Buys too much car 2. Carries a credit card balance 3. Puts their investments into just one stock or one sector of investment instead of diversifying, or makes other classic investing mistakes like trying to time the market. These stories in this thread are about big, dramatic fuckups. But you can slowly piss away your money on the quiet by doing those three things I listed above. A lot of people reading this thread would have $500,000 more net worth if they hadn't slowly eroded it. |
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Posted: 5/2/2017 10:12:59 AM EST
[#34]
My fucking sister!
Went to college for 6 years to get a 4 year degree in IT Works for a bit then has kids and decides to home school them. Both are given the choice at HS age to continue home school or go to public school. Both choose to go to regular HS so she gets a part time job doing payroll for a local restaurant. Dad gets cancer and we move them to the same block as her so she can help out since the cost of living is cheaper, she doesn't really work and her kids are grown. Dad passes away and sister puts demented mom in an assisted living to the tune of $3K a month as opposed to keeping her at home and pocketing the $36K a year tax free. Still not working a year later Inherited some money from my dad. Uses it to pay off mortgage, husband loses job, they are living off an inherited IRA she cashed out with two kids in college and she and her husband (both still not working) go on a transatlantic cruise. Husband gets a job in a new field at 50 doing financial planning!
He is still in training and not really earning much money, she's still not working, still 2 kids in college and they are going to Spain as a college graduation present for my niece. She owns half my parents house and a year later hasn't gotten it cleaned out to rent even though she's not working so costing her half of the probably $1500/month rent. She was in a minor car accident and is still complaining of wrist pain and "post concussive syndrome" from what looked like a minor accident. Mom was with her and is fine. Now she's suing for God knows fucking what. Guess she needs more money to live on. She was my one sibling I had hope for and it would seem that was unwarranted. |
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Posted: 5/2/2017 10:14:42 AM EST
[#35]
My wife's best friend decided to cash out her 401k early to pay off a pos house in bumfuk Oklahoma so as not to have a house payment. Supports her fortyish daughter who fucked up her own life. Won't say no to deadbeat family members. Husband is morbidly obese who always worked for cash and will have no social security if he lives that long. Says he loves his wife but will drop dead early leaving her in a pickle.
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Posted: 5/2/2017 10:15:32 AM EST
[#36]
Just read the whole thread over.
Holy shit am I glad I married a woman who doesn't like using credit, never asks for new cars, and comes to me to discuss any large purchases. I have never had to worry about her fucking up our credit or spending money we don't have. |
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Posted: 5/2/2017 10:15:54 AM EST
[#37]
I have some friends that bought way too much house, and then had to gut half of it to fix a serious problem.
Blew their entire retirement savings ( he is in his mid 30"s) and had to borrow 100K in addition. His job payed heavily in stock options, and he lost his options benefit during a re-organization. So they kinda Fucked now... But they buy more shit all the time, spoil their kids, and spend money like its... free. No fucks given by me... |
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Posted: 5/2/2017 10:16:56 AM EST
[#38]
I took on a business partner. It cost me between $18,000 and $30,000 depending on how you do the math and value the hard assets he left behind after I made him leave.
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Posted: 5/2/2017 10:17:03 AM EST
[#39]
Quote HistoryQuoted:
My fucking sister! Went to college for 6 years to get a 4 year degree in IT Works for a bit then has kids and decides to home school them. Both are given the choice at HS age to continue home school or go to public school. Both choose to go to regular HS so she gets a part time job doing payroll for a local restaurant. Dad gets cancer and we move them to the same block as her so she can help out since the cost of living is cheaper, she doesn't really work and her kids are grown. Dad passes away and sister puts demented mom in an assisted living to the tune of $3K a month as opposed to keeping her at home and pocketing the $36K a year tax free. Still not working a year later Inherited some money from my dad. Uses it to pay off mortgage, husband loses job, they are living off an inherited IRA she cashed out with two kids in college and she and her husband (both still not working) go on a transatlantic cruise. Husband gets a job in a new field at 50 doing financial planning!
He is still in training and not really earning much money, she's still not working, still 2 kids in college and they are going to Spain as a college graduation present for my niece. She owns half my parents house and a year later hasn't gotten it cleaned out to rent even though she's not working so costing her half of the probably $1500/month rent. She was in a minor car accident and is still complaining of wrist pain and "post concussive syndrome" from what looked like a minor accident. Mom was with her and is fine. Now she's suing for God knows fucking what. Guess she needs more money to live on. She was my one sibling I had hope for and it would seem that was unwarranted. |
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Posted: 5/2/2017 10:27:13 AM EST
[#40]
Quote HistoryQuoted:
This is not a poor decision . Paying $15000 for a $3000 tax deduction is a poor decision Quote HistoryQuoted:
Quoted:
Paid off my house so I am missing out on the tax benefits of having a loan.
I could pay off my mortgage that helps me itemize my deductions: Paid about $18K in interest and saved $4500 in taxes Maxed out IRA: saved $4000 in taxes and put $11,000 of my own money in the bank so really only costs me $7000 Wrote of property taxes for primary home and vacation home: saved about another $1250 in taxes Kept that $220K in my retirement fund earning 10% instead of paying off my mortgage at 3.25% making another $13,750 So tell me again how it would make sense to pay off my mortgage? |
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Posted: 5/2/2017 10:27:50 AM EST
[#41]
Quote HistoryQuoted:
I think he has to keep buying new boats too. 
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Posted: 5/2/2017 10:28:55 AM EST
[#42]
I know way too many guys who have a truck that cost as much as their annual income and yet don't own their own home. I just shake my head.
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Posted: 5/2/2017 10:33:50 AM EST
[#43]
Quote HistoryQuoted:
One guy would constantly complain that he didn't have any money because of his $240K mortgage. Decides it'll save him money by moving 15 miles closer to work, where he buys a $280K house. The gas savings will make up the difference? Amirite? |
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Posted: 5/2/2017 10:38:45 AM EST
[#44]
Me:
Rode the post-2008 market tumble up through summer/fall of 2009, then dollar cost averaged my way out (non-retirement accounts only) over 4 months to pay off my house. While I incurred a large capital loss and walked away from market increases since them, I don't entirely consider this a horrible decision. Yeah, I gave up potential gains, but the peace of mind from not having a mortgage for the last 7 years has been awesome, especially when I was job hunting as I got ready to retire from active duty. Coworker: My assistant maintenance officer was a prior enlisted LDO coming up on retirement. In 2003, after riding the tech bubble market collapse all the way down, she decided that she could no longer deal with the risk to principal of her retirement savings in stock mutual funds. She had decided to move all of her retirement savings to bond mutual funds because "bonds can't lose money". After a couple of futile attempts at explaining to her that while an actual bond can't lose money, bond mutual funds certainly decline in value when interest rates rise. She moved her retirement savings at just about the nadir of the stock market and the peak of the early 2000s bond market Oh well, I tried, and she wasn't that good of an assistant anyway. I guess if she held those funds all the way through the post 2008 ZIRP, she's doing OK now.
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Posted: 5/2/2017 10:40:12 AM EST
[#45]
one of my friends cashed out part of his 401k complete with penalties for early withdraw to pay for his wedding, they were divorced 3 years later.
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Posted: 5/2/2017 10:42:41 AM EST
[#46]
A friend lost two houses, three cars. Mostly due to bad decisions and Amway.
My parents hocked their house to pay credit cards and buy new cars. Now they can't bust the nut every month. Another friend hocked her house every time there was a penny of equity to go on vacations. Now she buys an new car every couple years and finances it for extra cash for vacation. My neighbor bought their house from my brother. Bought two new cars. Traded in for two more new cars. She got fired for embezzling. I am sure their finances are now just great. I could go on and on. It seems the more people make, the bigger mistakes they make. |
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Posted: 5/2/2017 10:43:49 AM EST
[#47]
Quote HistoryQuoted:
Paid off my house so I am missing out on the tax benefits of having a loan. Humor or brain damage? |
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Posted: 5/2/2017 10:44:03 AM EST
[#48]
Quote HistoryQuoted:
It is a vicious cycle Quote HistoryQuoted:
Quoted:
I think he has to keep buying new boats too.
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Posted: 5/2/2017 10:54:23 AM EST
[#49]
Ive made stupid financial mistakes,shit happens and thats what youth is for but when you are still making financial decisions into your thirties its a fucking problem.
My cousin and his wife decide they cant afford their car payment so they go to trade their Acadia or whatever its called on something cheaper. They bought another of the same car and their payment went up 20 bucks but hey this one is back in warranty if anything breaks.
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Posted: 5/2/2017 10:56:55 AM EST
[#50]
Quote HistoryQuoted:
My housekeeper's assistant bought a dog. And financed it. 900$. For a dog!!!! |
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