Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-17-2009, 10:04 AM   #21
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
No sympathy here either. She could make changes in her life, but CHOOSES not to do so because of "appearances". Screw appearances. She's facing possible financial ruin and she's worried about what people might think?!?
__________________

__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-17-2009, 10:47 AM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,403
In the following photo gallery, she was quoted as saying "I can ride this storm out". Perhaps she is optimistic that her employer will resume giving out big bonus checks? Perhaps a white knight will come to her rescue? Anyway, she does realize that the RE market is tough for her to get out now, so is hoping for a rebound so she can sell?

They might have been living right at the level of their means, but the immediate cause of her predicament was the divorce. She might have done better if she was able to give up the "appearances".

A Tight Grip on the Good Life - washingtonpost.com
__________________

__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 08-17-2009, 10:50 AM   #23
Recycles dryer sheets
Culture's Avatar
 
Join Date: Apr 2007
Posts: 491
Quote:
Originally Posted by Jay_Gatsby View Post
No sympathy here either. She could make changes in her life, but CHOOSES not to do so because of "appearances". Screw appearances. She's facing possible financial ruin and she's worried about what people might think?!?
I used to feel this way, but finally came to realize that it is as hard for these people to quit worrying about what others think as it is for a alcoholic to quit drinking or the average American to reduce caloric intake. OK, maybe not quite as hard.

I still think it is a stupid position for her to take, but I thank my parents, environment, genes, teachers and whatever else was involved that I do not have the problem of worrying what others think.

My point, I sympathize she has this problem, although it is still hers to fix, not mine.
__________________
Culture is offline   Reply With Quote
Old 08-17-2009, 11:08 AM   #24
Recycles dryer sheets
Culture's Avatar
 
Join Date: Apr 2007
Posts: 491
Can't move or does not want to move?

126 houses in her town listed on Realtor.Com for less than $500,000.

247 houses within 1 mile of hers listed on Realtor.Com for less than $500,000.

716 houses within 5 miles of hers listed on Realtor.Com for less than $500,000.

52 house within 5 miles for less than $300,000.

Of course, these are not on acreage, and are less than 4000 SF.
__________________
Culture is offline   Reply With Quote
Old 08-17-2009, 11:12 AM   #25
Recycles dryer sheets
Kwirk's Avatar
 
Join Date: Mar 2006
Posts: 154
Quote:
Originally Posted by Nords View Post
Here I am hanging out with the celebrities attracted to my shades:
And, I think they make you look more than 10 years younger!
__________________
Prepare for the future. Everything changes.
Kwirk is offline   Reply With Quote
Old 08-17-2009, 12:06 PM   #26
Recycles dryer sheets
Culture's Avatar
 
Join Date: Apr 2007
Posts: 491
According to the US census, the median income for a household in the village was $100,681, and the median income for a family was $118,721.
---------------------------------------------------------------------------
You would think 300k would be easy even without leaving town.
__________________
Culture is offline   Reply With Quote
Old 08-17-2009, 12:35 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
from the picture link...Steins's lifestyle was built on the premise of two incomes, not the single paycheck of a divorced mother of three in a recession.

I personally understand what happens when 2 incomes become 1, and I know some of you out there do too.
Life is all about adaption to black swan events. Ignoring the problem doesn't make it go away.

No preaching here...but times have changed for this lady. She knows it, but she is not facing it square on. I'm seeing a huge sidestep.
This fact..."vice president at MasterCard's corporate office"...tells me she's no dummy.
I think I figured out why she did the article. Culture's remark about "worrying about what others think" gave me a clue.
"Breaking ranks" is an almost guaranteed path to alienation from the social circle. In a nationally read newspaper, no less. Hmmmmm...the square peg is not fitting into the round hole.
It may be a last ditch attempt to get some help to quiet things down, before she sells and leaves the neighborhood.
Any other guesses?
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 08-17-2009, 12:40 PM   #28
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,403
I don't understand why she had to make noise. Why not just leave quietly? But then, I am a private person, and even posting anonymously here was a huge step for me.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 08-17-2009, 12:49 PM   #29
Thinks s/he gets paid by the post
growing_older's Avatar
 
Join Date: Jun 2007
Posts: 2,608
It seems to me that a large part of her motivation is to keep the affluent lifestlye for her kids. Whether that is practical or reasonable seems much less important to her. Perhaps this reflects her own experiences growing up as a child of affluent parents who lived in a big house herself. If so, she is setting her kids up for the same disconnect between means and expectations that she herself is experiencing.
__________________
growing_older is offline   Reply With Quote
Old 08-17-2009, 01:58 PM   #30
Dryer sheet aficionado
 
Join Date: Oct 2006
Posts: 36
Quote:
Originally Posted by freebird5825 View Post
This fact..."vice president at MasterCard's corporate office"...tells me she's no dummy.
Is Master Card like a bank, where everybody is either a VP or assistant VP? (am asking, not questioning).
__________________
bdk is offline   Reply With Quote
Old 08-17-2009, 02:09 PM   #31
Thinks s/he gets paid by the post
growing_older's Avatar
 
Join Date: Jun 2007
Posts: 2,608
Interesting idea. I don't know for sure about MasterCard, but I did a quick look at LinkedIn and found 10 VP titles among the 21 people I found who worked at MasterCard. Seems like there are VPs for lots of specific business areas and regions.
__________________
growing_older is offline   Reply With Quote
Old 08-17-2009, 04:29 PM   #32
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,769
I, too, wonder about Ms. Steins motivations in going public. She is an intelligent woman, does she not think that people will have a hard time having a pity party for her while living as she does? It makes her look foolish and I feel sorry for her children as there will certainly be "talk" in school with such a splashy format for her/their predicament. And I agree with an earlier poster that it is not what you earn, but what you do with what you have.
__________________
WhoDaresWins is offline   Reply With Quote
Old 08-17-2009, 04:54 PM   #33
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,927
The statement that got me was
Quote:
As a vice president at MasterCard's corporate office in Purchase, N.Y., she earns a base pay of $150,000 plus a bonus. This year she'll take home 10 percent less because of a smaller bonus. She receives $75,000 a year in child support from her ex-husband. She figures she will pull an additional $50,000 from a personal investment account to "pick up the slack."
.
So, she is earning 250K and having to make up the 50K differerence. That was the part that I thought was interesting. She not squeaking by, she is living above her means.
__________________
Angels danced on the day that you were born.
bssc is online now   Reply With Quote
Old 08-17-2009, 04:59 PM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,403
It used to be that the highest manager at a branch office of a bank, any of those at street corners, had the title of VP. I don't know if that is true anymore. Her salary of $150K would be OK for most locations in the US, but not enough for that lifestyle where she is.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 08-18-2009, 04:42 AM   #35
Full time employment: Posting here.
 
Join Date: Oct 2007
Location: New York
Posts: 898
I feel sorry for her on one level. Rather than give up her entire former life with the divorce, she's trying to retain as much as possible. I certainly understand that.

But the simple fact is she can't afford it. And the sooner she comes to terms with that the better off she'll be.


I saw similar behavior from my SIL when she divorced - in her case it wasn't about keeping an expensive home, it was trying to remain a stay-at-home mom even though it was obviously no longer workable. It was as if she viewed that aspect of her life as non-negotiable, and simply refused to give it up along with her husband.
__________________
Money's just something you need in case you don't die tomorrow.
Maurice is offline   Reply With Quote
Old 08-18-2009, 10:37 AM   #36
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 160
For people who are the subject of this kind of public exposure, isn't there some professional risk as well. For Mr Andrews the NYT financial reporter, not only did he expose his own poor financial judgment, but he also got caught selectively putting spin on an incomplete story, tarnishing his journalistic reputation. For Ms Steins as a VP at MasterCard should she be concerned that such a public display of poor financial decision making could reflect on her professional judgment as well. I don't know the nature of her job, but if she were to make a professional presentation or recommendation about services MasterCard offers I would think her audience would be more likely to dismiss her as the "lady who cannot manage her own finances" after this publicity.
__________________
quietman is offline   Reply With Quote
Old 08-18-2009, 11:53 AM   #37
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
Call me cynical, but I'm hearing a canary singing in a neighborhood that might have things they don't want made public. Remember her neighborhood is full of Wall St and financial types, among others.
Either that or it is a parting shot at her ex or the whole society (divorce is very gauche) or just plain desperation. Her mental load must be overwhelming.
I agree this will affect her professional career in ways she may not have counted on.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 08-18-2009, 12:50 PM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,268
Quote:
Originally Posted by quietman View Post
For people who are the subject of this kind of public exposure, isn't there some professional risk as well. For Mr Andrews the NYT financial reporter, not only did he expose his own poor financial judgment, but he also got caught selectively putting spin on an incomplete story, tarnishing his journalistic reputation. For Ms Steins as a VP at MasterCard should she be concerned that such a public display of poor financial decision making could reflect on her professional judgment as well. I don't know the nature of her job, but if she were to make a professional presentation or recommendation about services MasterCard offers I would think her audience would be more likely to dismiss her as the "lady who cannot manage her own finances" after this publicity.

This is kinda what I was thinking.... she is not as bad as Andrew as she has not lied to get a loan, but she is in that she is living above her means which calls into question her decision making ability IMO...
__________________
Texas Proud is online now   Reply With Quote
Old 08-18-2009, 12:52 PM   #39
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,268
I also think that maybe SHE thinks that she will meet someone who will be that second income.... and all will be good in the world... if she moves and changes her lifestyle, how can she meet the 'right' guy
__________________
Texas Proud is online now   Reply With Quote
Old 08-18-2009, 03:45 PM   #40
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
 
Join Date: Oct 2004
Posts: 1,719
Quote:
Originally Posted by Maurice View Post
I feel sorry for her on one level. Rather than give up her entire former life with the divorce, she's trying to retain as much as possible. I certainly understand that.

But the simple fact is she can't afford it. And the sooner she comes to terms with that the better off she'll be.


I saw similar behavior from my SIL when she divorced - in her case it wasn't about keeping an expensive home, it was trying to remain a stay-at-home mom even though it was obviously no longer workable. It was as if she viewed that aspect of her life as non-negotiable, and simply refused to give it up along with her husband.
You can't force someone to wake up and see the truth. Yes, I know that "truth" is relative, but if most people see something in a similar way, there may be some merit to their perspective. Over the years, I've given advice to several members of my family, most of which was pretty much ignored. I can only imagine how much better their lives would be if they had actually listened to me. Instead, they're facing the same problems today, or worse ones after compounding their original problems with more bad decisions.

In this woman's case, I'd recommend getting rid of the nanny, the gardener and the pool care service. Her eldest child is old enough to perform chores around the house, which may include making lunches for everyone, babysitting his younger siblings, mowing the lawn, cleaning the pool, etc.... At the very least, the mother could hire kids from less than affluent families at a fraction of the cost of a professional. By my calculations, she could save at least $75,000 by cutting back on a few strategic items. She wouldn't have to move, but she might need to put up with a few people looking down on her. Oh the horror.
__________________

__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
And I thought that 750,000,000,000 was a big # !!! mickeyd Other topics 0 09-27-2008 02:44 PM
Don't forget to claim your part of the $10,000,000,000 refund mickeyd FIRE and Money 1 12-26-2006 01:58 PM
$2,000,000,000,000- Happy 55th mickeyd Other topics 12 12-28-2004 09:19 AM
what are some ways i could put 300,000.00 *to work zuki FIRE and Money 9 03-16-2004 05:12 PM

 

 
All times are GMT -6. The time now is 04:53 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.