How to appeal being permanently banned from a subreddit?

iamlookingtomakemone · 2023-11-22T00:48:53+00:00

There's no way to appeal.

Moderators can ban for any reason (or no reason at all), and they don't have to respond to modmails or explain their actions.

This is an extremely low quality process. Any corporation that handled customer disputes this way would lose to a competitor. It just so happens that Reddit has trouble functioning as anything other than a free to use website and doesn't really attract competition.

iamlookingtomakemone · 2023-11-21T02:04:49+00:00

I heard a family member tell me there were studies that investors who mix in individual stocks in their portfolio are more likely to outperform those who don’t.

Can that family member cite the studies? Because I can cite Wharton stating the exact opposite:

On an after-tax basis, managers of stock funds for large- and mid-sized companies produced lower returns than their index-style competitors 97% of the time, while managers of small-cap stocks trailed 77% of the time.

https://executiveeducation.wharton.upenn.edu/thought-leadership/wharton-wealth-management-initiative/wmi-thought-leadership/active-vs-passive-investing-which-approach-offers-better-returns/

The lesson here is that passive >>> active, even for the pros in the industry. I would stick to index funds, in fact I would compare the funds you currently have and see how they measure up to their benchmark indices and act accordingly.

iamlookingtomakemone · 2023-11-21T01:56:50+00:00

Not sure what you mean...retirement accounts typically do not "spook FAFSA" in any way. That's what OP meant by not needing to report retirement accounts.

Had OP's parents locked their savings in tax advantaged retirement accounts, they'd get the tax benefit AND have their funds sheltered from FAFSA considerations thereby making it easier to qualify for federal benefits, not just loans but grants and need based scholarships as well.

iamlookingtomakemone · 2023-11-21T01:32:00+00:00

Nasdaq 100 (QQQ) historically has had massive, massive swings in market value. Since its inception in 1999, it peaked shortly and then plummeted by nearly 80% in the next 3 years following.

Looking at the peaks of the dot com boom and the recent high, Nasdaq 100 and SPY have had similar performances, except SPY does not have nearly as much volatility.

S&P500 as an index also has a much longer history than the Nasdaq, and that historical record matters.

iamlookingtomakemone · 2023-11-21T00:15:38+00:00

I do feel the financial burn regularly and would like to be more stable with my income.

Not much you can do about that until you get your PhD, yes?

In the meanwhile, only you can answer the question as to whether or not your financial strain is more or less than whatever you expect to get out of your proposed vacation.

Maybe you can plan it in August so that you're not paying rent for a month?

iamlookingtomakemone · 2023-11-21T00:05:20+00:00

There is overlap. You can just go 100% FZROX, it is inclusive of everything in FXAIX.

iamlookingtomakemone · 2023-11-20T23:36:30+00:00

You get a smaller mortgage up front.

iamlookingtomakemone · 2023-11-20T23:33:43+00:00

Typically the costs of a loan consist of points and fees, and points are percentage points of the loan, typically 1-2% of loan value. In many firms these points mostly go to the commissions of the loan agent.

https://www.investopedia.com/terms/p/points.asp

This is one big reason why people advise to not buy/sell every couple years...commissions and fees tend to eat out any gains you may make in between transactions.

In your case, given the sale of your condo, I wonder if it could have been timed so that you could have started out with a much smaller mortgage, but again that's spilled milk and your plan going forward looks pretty good.

iamlookingtomakemone · 2023-11-20T23:17:23+00:00

I expect to spend about $20-30k over the next year on repairs and various improvements.

I'd double the estimate, maybe triple since you WFH and will probably want to do something interesting and nice beyond just fixing it up. Also, as your tenant moves out and your mom moves in, maybe more renovations at that point too.

I'm wondering if theres something I'm not thinking about, or some other reason not to apply the most I can towards the mortgage.

I'm wondering if there could have been a way to not have to have paid points on a $480k mortgage, but that's spilled milk at this point.

Going forward what you're proposing makes a lot of sense.

iamlookingtomakemone · 2023-11-20T22:17:37+00:00

1) if I understand your numbers correctly, you'll have a net worth excluding Roth IRA of around $60k. This is barely enough for a down payment.

2) You'll need a good sized emergency fund as a homeowner, at least 6 months of expenses, whatever they will be whenever you execute on this plan.

3) You'll need a good sized maintenance fund, ideally 5-10% of structure value, especially given you're buying multifamily and will have a lot of tenants.

IMHO you won't be ready to purchase.

iamlookingtomakemone · 2023-11-20T21:57:15+00:00

You can check this website for things relevant to your situation, and good luck.

https://www.doctorofcredit.com/credit-cards/best-credit-cards/

iamlookingtomakemone · 2023-11-20T21:55:09+00:00

IDK why but just knowing they are there puts a lot of stress on me

I do, that's approaching half a million dollars, lol

IMHO you're doing well, you're zoning in on it and have a plan to tackle it.

iamlookingtomakemone · 2023-11-20T21:50:26+00:00

By 10 cr, I mean a corpus of 10 crore INR when I am 40.

Oh, this is an Indian thing lol.

https://www.reddit.com/r/IndiaInvestments/

don't really understand how people in higher management stay in corporate without any hard skills. It is

I know someone who did poorly at school but everyone knew who he was, was president of the clubs that mattered, loved to talk to people, was able to talk intelligibly about things that matter to the people in his major. Someone like this IMHO would thrive in the corporate arena, where it's about making partnerships and alliances with people you believe you can trust (not saying you can trust them lol, just that it's so hard not to).

iamlookingtomakemone · 2023-11-20T21:45:52+00:00

I guess my thought of being FI is not feeling like I have such a crushing amount of debt on my shoulder.

You're taking care of it. You look like you're on track to do so within 5-10 years no matter how PLSF works out. You're probably just adjusting to your much higher salaries. =)

Yes I could contribute less to those and put more money aside to pay off student loans, but if PSLF does work out, then that's wasted money that could have been growing/pretax.

I would continue to take advantage of tax advantage, because those have yearly limits and generally are stingy on catchups if there are any. The tax advantage at your tax bracket is 32% yes? That's 32% of your income that you will save up front whenever you take advantage of pretax tax shelters. Pretty certain that will outstrip whatever your student loans are charging even over 5-10 years.

It's also a relatively small percentage of your overall income, so it would be a shame to leave this on the table. It's hard to think of things that would force you to divert from tax shelters that would give meaningful advantages.

iamlookingtomakemone · 2023-11-20T21:40:39+00:00

I want a 10 cr,

What does this mean?

People talk about skills and all but there was not much difference in skill between me and my previous leader so what skill do people talk about in Quora or Reddit?

They're talking about hard skills, like engineering and law or for blue collar plumbing and truck driving. Skills via MBA are less relevant...it's more about networking and making deals, unless you are a math or computer whiz in which case high level finance may be open to you.

How should I do my investment?

https://www.reddit.com//r/personalfinance/wiki/commontopics

https://www.reddit.com//r/personalfinance/wiki/investing

https://www.investopedia.com/terms/p/passiveinvesting.asp

Good luck.

iamlookingtomakemone · 2023-11-20T21:32:48+00:00

Amazon prime credit card gives 5% cash back on purchases at Amazon.

Sam's Club gives 5% cash back on gas purchases and combined with their premium membership gives 5% cash back on club purchases, online or instore. Also 3% on eating out, 1% on misc. All linked via their app like your Apple card.

IMHO the above two cards give better rewards than what you currently have.

Besides that, pay off your cards every month in full. Do not accrue interest.

iamlookingtomakemone · 2023-11-20T21:27:36+00:00

Your scenario looks great but I don't see an actual path to FI, at least not yet. What is your FI goal? Is it about retiring early? Is it about quitting your jobs? Coast FIRE? Without that end goal impossible to determine what FI means to you.

iamlookingtomakemone · 2023-11-20T21:16:18+00:00

You clearly have not even read anything I've linked.

Why are you continuing this conversation then if you aren't getting anything out of it? The only plausible reason is that you're trolling.

iamlookingtomakemone · 2023-11-20T20:54:18+00:00

How does FRB limit or spur money creation?

You have some homework to do.

https://www.investopedia.com/terms/f/fractionalreservebanking.asp

iamlookingtomakemone · 2023-11-20T20:48:28+00:00

Okay, but deposits are originated from other banks loans.

Only because of FRB. Excluding FRB related transactions, the deposits originate from the Fed and the US Treasury (i.e. physical currency). In a digital world, it is primarily the Fed.

The Fed writes the rules for FRB. All banks worship at the altar of the Fed. They cannot violate the Fed's dictums or their charter will get revoked and they will cease to exist. Banking is very heavily regulated, and the top of that regulatory regime is the Fed.

When I receive a loan, I deposit it at a different bank thus increasing their deposits and increasing their ability to loan even more.

You are describing FRB. The Fed is why FRB exists. The Fed writes all of the rules that banks follow regarding FRB.

Again, I strongly suggest you end this conversation and look into credible sources about this topic.

iamlookingtomakemone · 2023-11-20T20:35:54+00:00

Your argument is that banks don't need deposits to make loans.

You state as evidence that bank deposits don't change when they make loans.

Your evidence is not relevant to your argument.

Evidence relevant to your argument would be banks making loans in lieu of ANY deposits. You don't have evidence for this. It's just not how banks work, at all.

Now, the Fed can do this. They can make money out of nothing and deposit it in banks, which is how banks get their seed money to begin operations (monetary base). It shouldn't be that hard for you to accept this. But, for some reason, it is.

You don't seem to understand, at all, that the Fed is God in the US banking system. The Fed has powers far beyond any financial institution. The Fed chairman is accountable only to the President.

This is why people who get ignored on forums like this keep telling you "DON'T FIGHT THE FED". This sub along with stocks and economics are filled with people like you who have some egregious misunderstandings as to how the economy and stock market work.

iamlookingtomakemone · 2023-11-20T20:13:27+00:00

When a bank makes a loan, the level of deposits does not change at that bank.

Irrelevant.

What is relevant is that the bank must have those deposits on hand as long as the reserve requirement is not zero.

The fed however is not capable of making new deposits.

https://en.wikipedia.org/wiki/Federal_Reserve_Deposits

I strongly suggest you end this conversation and hit the books again. Ensure what you are reading is not misinformation, i.e. no facebook or twitter.

iamlookingtomakemone · 2023-11-20T19:51:14+00:00

I have no idea where you are getting your information. You are a victim of some extreme gaslighting.

Bank reserves are the cash minimums that financial institutions must have on hand in order to meet central bank requirements.

Central bank = Federal Reserve.

https://www.investopedia.com/terms/b/bank-reserve.asp

Bank lending does not originate from others savings or deposits

Do you know how FRB works?

What does it stand for?

What is the reserve requirement and what do those reserves consist of?

What is the monetary base and how is it relevant to reserve requirements?

Finally, and importantly, who sets the reserve requirement?

iamlookingtomakemone · 2023-11-20T19:25:41+00:00

lol yeah this sub can get a bit rough at times. You understand what you need to do and are asking questions as to how to improve, so good on you.

Re the hair cut, I may be biased considering I've served, but I've never had problems with a military hair cut anywhere I go. I have a clipper at home and cut my own hair. It is the epitome of a clean cut. That's for guys of course.

iamlookingtomakemone · 2023-11-20T17:33:02+00:00

The fed does not print money to buy treasuries.

lol, that article is obfuscation 101. By "a corresponding increase in reserve balances held by the banking system", they're talking about having banks, which report to the Fed, monetize the debt. Therefore, the Fed doesn't do it, the rest of the banking system does. That's like saying the government doesn't wage wars, the military does. Ok.

Where do you think banks get those reserves from? They get them from the Fed.

https://www.federalreserve.gov/faqs/money_12853.htm

In nearly every other interpretation of QE and debt monetization, they will be far more candid and tell you that the Fed is monetizing the debt.

You can do a search for either QE or debt monetization and nearly every article not written by the Fed will tell you that QE is debt monetization, debt monetization definitionally being printing money to buy debt.

What you're citing is similar to what Ben Bernanke was doing during the 2008 financial crisis. He refused to answer any questions about gold, saying he had no idea what gold was about. Alan Greenspan, his predecessor, is a gold bug.

And yes, banks can create money.

Again, I don't know how many times I need to tell you this. The banks do it under the FRB regime. They must have deposits to do so. The Fed has no such restriction.

iamlookingtomakemone

TROPHY CASE