Me when my financial advisor tells me I shouldn't buy a Mustang, and also threatens to fight me when I try to justify it

"CB" (jrcb)
07/31/2020 at 22:19 • Filed to: 2 Adult 2 Furious

But, she also said that I’m on track to be able to afford a house in eighteen months like I want, so that’s ideal!

She was out for a smoke when I pulled up, and asked “new car?” I said I probably should’ve talked to her first before buying it. She shrugged and said I’m one of her few clients who actually knows how to plan ahead financially. I’ll take that compliment.

DISCUSSION (38)

Exage03040 @ opposite-lock.com > CB
07/31/2020 at 22:28

She just wants to live past 2020 man, don’t make it harder . :P

This is what we'll show whenever you publish anything on Kinja: > CB
07/31/2020 at 22:29

Yo ur financial advisor pisses away money on cigarettes?

ranwhenparked > CB
07/31/2020 at 22:29

She probably wanted you to get a Volkswagen Atlas

CB > Exage03040 @ opposite-lock.com
07/31/2020 at 22:29

From the horror stories she shared about some other clients’ financial choices, I don’t think I’m the problem.

CB > This is what we'll show whenever you publish anything on Kinja:
07/31/2020 at 22:30

She’s honest about her faults at least.

SBA Thanks You For All The Fish > CB
07/31/2020 at 22:31

So, the net here is that your “financial planner” throws away money on cigarettes?

Noted for the file.

CB > SBA Thanks You For All The Fish
07/31/2020 at 22:33

Everyone gets a freebie for their vices. I’d be a real prick if I judged everyone who wasted their money on booze.

Exage03040 @ opposite-lock.com > CB
07/31/2020 at 22:35

Mustang seeks blood of any kind. You keep that stallion in check if you take that trail. ;)

SBA Thanks You For All The Fish > CB
07/31/2020 at 22:37

Sorry. It’s SmartAss Friday and I’m Exhibit A.

I’m glad you have a plan together. It’s refreshing. A lot of us are “WTF, I had a plan before the last 4 financial shitstorms washed through...”

Arch Duke Maxyenko, Shit Talk Extraordinaire > CB
07/31/2020 at 22:40

That you would be.

/goes to the liquor store

Arch Duke Maxyenko, Shit Talk Extraordinaire > ranwhenparked
07/31/2020 at 22:41

She might shrug at it

CB > SBA Thanks You For All The Fish
07/31/2020 at 22:43

All good.

Yeah, a plan that has surprisingly worked out so far. She said if I really wanted to plan long term, now is a great time to invest if I’m not planning on needing that money for the next ten years. I told her I’d wait for the next slip. We had a good laugh-cry.

CB > Arch Duke Maxyenko, Shit Talk Extraordinaire
07/31/2020 at 22:44

A moderator? Drinking?! What kind of circus is this?

Arch Duke Maxyenko, Shit Talk Extraordinaire > CB
07/31/2020 at 22:46

I blame the posters

fintail > CB
07/31/2020 at 23:02

My solution to that: I am my own financial planner - nobody to tell me no, I have to rely on my own slight self-discipline. That and living in an area where a detached house within reasonable commuting distance is a hilarious dream for a single income person without the bank of mom and dad , so one less thing to worry about.

SBA Thanks You For All The Fish > Arch Duke Maxyenko, Shit Talk Extraordinaire
07/31/2020 at 23:27

Still sharp after a long week. I salute you, you irreverent SOB

SBA Thanks You For All The Fish > CB
07/31/2020 at 23:29

Not sure how old you are and absolutely NOMB, but that power of “compounding over decades” is a powerful enabler. I try to impress that on the kids, but...

CB > SBA Thanks You For All The Fish
07/31/2020 at 23:30

I’m 25, so I should be looking somewhat into it, but I don’t think I have the overhead I want right now to be playing with the markets.

notsomethingstructural > This is what we'll show whenever you publish anything on Kinja:
07/31/2020 at 23:32

I’d be hard pressed to believe anyone on oppo doesn’t piss money away on SOMETHING because if they didn’t they would be on some insufferable subvert of CNBC.com like “I bought a house by 26, here’s the trick” and it’s just put your $100k inheritance into growth stocks instead of mustangs. The mustangs are more fun though which is why I don’t read CNBC.

Disclaimer: I piss all my money away on smoking , drinking, gambling, and parking spaces

SBA Thanks You For All The Fish > CB
07/31/2020 at 23:36

I’m worried about a big correction once the “how bad this COVID thing is” sinks into the earnings reporting . GDP’s shrinking 9-25% worldwide is NOT a good leading indicator.

However, when you see the world lining off to jump off the ledge as the market corrects? Step up and buy some quality and hold onto it.

Hell, as much as I think BA are devil worshippers— I’ll have a nibble or two off their flesh when they hit rock bottom. They ain’t there yet... wait until all the airlines lay off half their staff... that’s when BA gets cheap.

YMMV

This is what we'll show whenever you publish anything on Kinja: > notsomethingstructural
07/31/2020 at 23:37

True, but we're also terrible financial advisors.

PS9 > CB
07/31/2020 at 23:46

F U MOM YOU CAN'T TELL ME WHAT TO DO NOW THAT I MOVED OUT

CB > PS9
07/31/2020 at 23:48

I’ve gone into a career that constantly keeps my mother on edge. Every time I think she’s getting used to it, I make a suggestion about where I’ll move next that drives her nuts.

If only EssExTee could be so grossly incandescent > CB
08/01/2020 at 00:07

Is paying someone to tell you how to spend your money in itself a poor financial decision?

CB > If only EssExTee could be so grossly incandescent
08/01/2020 at 00:08

I don’t know, she works for my bank and I don’t have to pay for it.

Longtime Lurker > If only EssExTee could be so grossly incandescent
08/01/2020 at 00:10

Only if they don't help you better your financial habits.

If only EssExTee could be so grossly incandescent > Longtime Lurker
08/01/2020 at 00:13

So a good financial ad viser would tell you to stop paying for their services?

wafflesnfalafel > CB
08/01/2020 at 00:18

E verything in moderation - I’m sure she has to put up with a bunch of morons wanting her to work miracles while they do stupid sh!+.

CB > wafflesnfalafel
08/01/2020 at 00:20

100%. She told me about someone she was finalizing mortgage approval for who bought a $90k truck between him coming in for a meeting and when the paperwork was supposed to be done. Suffice to say, the truck purchase meant he was no longer approved for a mortgage, and he couldn’t figure out why.

Tripper > CB
08/01/2020 at 08:19

Finance people lol @ hobbies, good to have one of those peeps around to keep you in check. On the other hand, fuck that. Some of my colleagues who make anywhere from 2 to 20 times more than I do will say things like “must be nice” when they see either bimmer. Meanwhile that person most likely goes $300+ on their cable bill and $700-$1000 on a LEASE.

farscythe - makin da cawfee! > CB
08/01/2020 at 08:49

im mostly just jealous you have enough money to be able to pay a financial advisor

(edit) read the other comments... now im jealous you get freebie advisors

notsomethingstructural > CB
08/01/2020 at 10:26

How did you find a financial advisor anyways? What are you paying in fees? Is this like investment side or expenditure side?

I used the guy my parents used but they’re kicking all of us out for not having enough assets for that investment group. Basically the advisement group was doing too well and even though my folks have been there for 30-40 years the new clients coming in are quite a bit more well -heeled

Napoli > CB
08/01/2020 at 10:41

I’m a financial advisor. I wish I could tell you some of the stories I have. Some of my clients make truly awful financial decisions.

CB > notsomethingstructural
08/01/2020 at 12:08

Mine is through my bank, and I pay no fees. I guess kind of both? We talked about investments, expenses, how to save, credit cards, and mortgages yesterday.

CB > Napoli
08/01/2020 at 12:09

One part of me doesn’t want to know, the other part of me is morbidly curious.

B_dol > Tripper
08/01/2020 at 12:37

Priorities!

Car depreciation is a B*, remove that from your life and suddenly you are not beholden to monthly payments for the next ten years.

notsomethingstructural > CB
08/01/2020 at 16:43

What the hell bank is this? If I want to move my stuff entirely to Bank of America / Merryl Lynch it’s like 0.75% of assets under management for an actively managed portfolio and I want to say 0.4% for guidance only? ?? You can see why I don’t want to do this.

davesaddiction @ opposite-lock.com > CB
08/03/2020 at 09:39

“Mustang” in title = 2000 views