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Recently, she confided that she has four personal loans, each with a high annual interest rate (14%), taken over the past two years. Two were for travel, one for her apartment renovation, and one for a new iPhone.

She expressed no regret about taking the loans, as they fulfilled her desire to visit California and Spain and own a new iPhone.

:marseywomanmoment2:

!foidmoment !r-slurs

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The r-slurred part was renovating the apartment, shes not gonna be able to keep that shit when shes out on the street

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She owns the place (inheritance), but still it's fricking stupid to take out a high interest loan to renovate. She probably redecorated it, bitches love redecorating for no reason.

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>be man

>be successful

>die

>daughter blows it all immediately

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Trusts neighbor

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I had my good iron thrown out by my spouse and replaced with cheap metal cookware.

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I hope you dumped her king

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Are you a euro? We would call that a condo here in freedomland. An apartment nearly always implies renting.

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Condos are owned in common with the entire building, she owns the apartment itself.

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Surely she still has some kind of joint ownership of common areas/parts like the roof, no?

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Probably not, there's a lot of owning just the apartment in NYC, like Brownstones.

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how do you grow up and completely not understand simple interest? That's like 5th grade math lol

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I want to make fun of you for saying "simple interest" because that's a thing and it's nowhere near as bad as compound interest which is what mrs iphone is paying

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I figured that loans <$2000 would be simple-interest lol. Don't most payday-loan type shops operate on simple interest?

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Payday shops do that for their own benefit - the interest is baked in as if you made no payments until the very last day, even if you pay it off in 6 hours. People accept it because they're desperate.

On the other hand, banks only accept the long terms on normal loans because the compounding makes it worthwhile.

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What do you mean? 14% is a great deal compared to the 29% on my credit card

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29% CC APR is steal!

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I'm currently in a similar situation. My boyfriend (38 years old) has almost no retirement savings, no emergency fund, and 6-figure student loans from an art school.

Anything to avoid a sub8

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Art school is a red flag.

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>The first thing I had him do was look up what benefits his company offers (he works at an elementary school).

lmao

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>Yes, she inherited the apartment from her parents.

Uh, thats one way of looking at taking over a lease

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If they're in New York then they are really talking about owning it like any other piece of real estate

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If she owned it, she would be making a ton of money off it, and wouldnt need to work 2 other jobs just to afford a measly iphone

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She lives there. Even a home you own outright isn't making you money unless you rent it out

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But apartment buildings usually have a bunch of apartments. She cant live in every one of them

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She doesn't own a building. She'd be a multimillionaire if she did.

She owns one apartment in a building.

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I have never heard of apartments in buildings being purchased, only rented

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In NYC it's how a lot of ownership works. Elsewhere in the US we'd call it a condo but NYC gonna NYC.

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Sounds fake and the bad gay

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Why are people so confused with literally owning an apartment? I am europoor, here we outright own an apartment if we buy it (ok some buildings are lease only)

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For most of America, "apartment" is a thing you rent and "condo" is a thing you own. NYC is the big exception.

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I really really hope she owns that apartment otherwise good lord. And if she does that makes it a condominium and op just as much of an r-slur.

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And if she does that makes it a condominium

If you're going to be a pedant at least be correct. You can own an apartment. Condominium is more about the agreement with other owners of parts of a property. You can have a house that's a condominium if it's on a lot with other houses.

From the dictionary:

apartment

[ uh-pahrt-muhnt ]

noun

1. a room or a group of related rooms, among similar sets in one building, designed for use as a dwelling.

2. a building containing or made up of such rooms.

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She does, she inherited it.

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This makes me wonder if there's any good drama on those old boglehead forums.

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Drama between members? No not really. The admins shut it down quickly so at worst there are some catty comments. There are posts like this where a poster's spouse/child is worthless and the boomers dogpile to start dunking on any family member/coworker who isn't following the boglehead way.

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