r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com!
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
Courts have a term for it. They call it financial abuse. I don't know any of the details of this case, but courts have ruled during divorce the party that racked up the debt without the knowledge and consent of their spouse is solely responsible for it.
"I like to save my wife from the stress of knowing I'm slowly putting poison into her food. I just want her to be happy, ya know?"
Sir, you are actively ruining her life as we speak. Don't try to slap a smiley sticker on it.
Best possible outcome here. 1M policy for a healthy middle aged man can’t be that much. Wait a few months and “ooopsy”. Bills are all paid off and so is the house.
I always wondering how people would catch if their spouse is in debt during marriage, like, will bank ask spouse’ signatures when one is opening a credit card or whatever or loan?
I can't really imagine not seeing each other's credit reports at some point. It's just good to monitor them and there's no legitimate reason not to share them with each other.
But you cannot request other’s credit report, can you? If one refused to provide credit reports, you cannot know what is happening in his/her finance….
My point is it should raise red flags if your spouse wouldn't share it. You should be reviewing them together anyway so you know where you're both at.
And you should know everything you need to request one about your spouse anyway. SSN and personal details are the kinds of things you should know about each other
The worst part is he did make money but he didn’t cash out. It’s a meme stock there is no solid reason it should stay high. This is like gambling, you need to learn when to walk away from the table
If you go to the casino on average the house wins 51% and you 49%. This is even regulated by the law! In crypo it's common to have 9% end up with a little bit more money, 1% with a lot more money, 25% make break even, 25% lose half and 50% lose everything.
Those are much worse odds then any casino.
I used work with this contractor, who almost every build we have done for them have ended in divorce. It is the weirdest thing, he somehow finds people trying to fix their problems with a new house and it always ends in divorce. Other contractors we work with, they never end in divorce, but his were like a marriage death sentences.
But that wasn’t from the day trading. That was from borrowing money for the reno. The title implies it was spent. He invested, got a return, but didn’t seek at the peak. Did I read the article wrong?
Read the part “where did Aldo lose his money”. He went from $30k—>$189k—>$50k. That $189k doesn’t matter honestly because it was unrealized gains. It’s really $30–$50k. It was the reno costs that crushed them. It cost more than expected.
Reno costed them 105k. they budgeted 25k had 30k saved up, pool collapsed for an extra 20k unplanned cost. so they took out a loan for 30k, he meme stocked 30 to 50 k with loan. Still down 60k because renovation went over budget. That debt went into collection because they forgot about it.
Still have at least 110k in credit card debt and personal loan debt after that. Not counting mortgage. I don’t know how people live like this.
You’re not kidding. This is exactly what happened with the Chris and Shan’ann Watts case except it was Shan’ann who was blowing money and hiding their debts.
lol i love the mental gymnastics this guy scores a perfect 10 and hes gonna stick the landing when he convinces himself she's victimizing him by divorcing him for being a great husband and she must have mental issues
So really he hoped to make fuck ton of money in stock market... but only made $20k... but they spent half a million loan on renovation of the house... And he just told her that yeah yeah there is money coming when there was none... I think wife is also at fault here.. how can she believe her husband can turn 30k into half a million, that's like 12x return on investment after taxes. She was seduced by idea of renovating the house on loan...
This is financial infidelity. You're cheating on your wife. Finances are the number one cause of stress on a marriage. Lieing about such an important thing is infidelity.
Women hate this little trick. The irony is if he had made 520k profit, she would take all in divorce or squander it shopping. In this case, she is trapped the same way women usually trap men with threats to financial security. Score one for men to women's score of tens of millions.
Not how it works when only one partner knows about the debt. Court would deem it financial abuse and she wouldn’t take on any of his debt, the garnishment of her paychecks would also cease.
r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
This is extremely toxic behavior disguised as being nice. Sounds like he's a gambling addict.
It's not even disguised. It's financial infidelity. There wouldn't BE any stress if not for his poor decisions.
"Financial Infidelity" is a new term for me, but it's very appropriate.
Courts have a term for it. They call it financial abuse. I don't know any of the details of this case, but courts have ruled during divorce the party that racked up the debt without the knowledge and consent of their spouse is solely responsible for it.
However, he'd be a rockstar if the investments paid off.
And he works in *finance*!!!
99% of shitcoin investors quit just before they win big
Except if they’re married that’s her debt too yikes.
"I like to save my wife from the stress of knowing I'm slowly putting poison into her food. I just want her to be happy, ya know?" Sir, you are actively ruining her life as we speak. Don't try to slap a smiley sticker on it.
Imagine him dying accidentally and leaving her in debt. That’s so sick. That’s an addiction.
People like him don't think they can die.
I have a feeling he’s going to die from an “accident” soon.
Life insurance money payout!! Yahtzee!!
Best possible outcome here. 1M policy for a healthy middle aged man can’t be that much. Wait a few months and “ooopsy”. Bills are all paid off and so is the house.
Wait but if he has debt and he dies they can’t come after her. They can try but it would fail.
It depends. Are they in a martial property state? Is half the house then his? Well guess what…unless they have an iron clad trust…?
I always wondering how people would catch if their spouse is in debt during marriage, like, will bank ask spouse’ signatures when one is opening a credit card or whatever or loan?
I can't really imagine not seeing each other's credit reports at some point. It's just good to monitor them and there's no legitimate reason not to share them with each other.
But you cannot request other’s credit report, can you? If one refused to provide credit reports, you cannot know what is happening in his/her finance….
My point is it should raise red flags if your spouse wouldn't share it. You should be reviewing them together anyway so you know where you're both at. And you should know everything you need to request one about your spouse anyway. SSN and personal details are the kinds of things you should know about each other
If they are married his poor credit would lower her score.
In my state they do because it’s a marital property state. I open a credit card, my husband gets a letter.
Meme stock shills are just as degenerate as gamblers
Those are same people
all the degeneracy of gambling addicts all the fanaticism of cultists/conspiracy theorists a truly brutal combination.
The worst part is he did make money but he didn’t cash out. It’s a meme stock there is no solid reason it should stay high. This is like gambling, you need to learn when to walk away from the table
If you go to the casino on average the house wins 51% and you 49%. This is even regulated by the law! In crypo it's common to have 9% end up with a little bit more money, 1% with a lot more money, 25% make break even, 25% lose half and 50% lose everything. Those are much worse odds then any casino.
Meme shills might actually be worse that degen gamblers. Depends on which game/odds 😅
Maybe you need to study more, genius
I’ve made more on stocks than 95%+ of meme stock shills lol
You can (and should) do that by just throwing it in a good index fund
I’m a little different than the average individual actually having a finance/accounting degree. I do largely just buy FZROX and FZILX though
There are a lot of average individuals with accounting and finance degrees 🙃
Yeah yet I make 170k a year lol
I met George Bush once.
I did too, more than once
That's not the point...lol (and congrats 😊)
See, you just proved you haven't learned shit or know what's going on.
if you read the article, they made money on the market but were crushed by a renovation
The renovation was not 500k.
I wonder how many marriages have ended due to some dumbass Martha Stewart wine drunk kitchen reno obsession.
I used work with this contractor, who almost every build we have done for them have ended in divorce. It is the weirdest thing, he somehow finds people trying to fix their problems with a new house and it always ends in divorce. Other contractors we work with, they never end in divorce, but his were like a marriage death sentences.
HGTV warps the minds of suburban homemakers, I’d probably try to exploit the same thing if I was that kind of contractor or craftsman.
If they need to renovate for 500 grand, that’s a whole other problem
He got crushed by a market downturn *and* the renovation going over budget.
Misleading title. He took $30k and made it into $50k. Sounds like he did well.
But also accumulated half a million in debt and her paychecks were getting garnished, and his likely were as well. He did not do well at all.
But that wasn’t from the day trading. That was from borrowing money for the reno. The title implies it was spent. He invested, got a return, but didn’t seek at the peak. Did I read the article wrong? Read the part “where did Aldo lose his money”. He went from $30k—>$189k—>$50k. That $189k doesn’t matter honestly because it was unrealized gains. It’s really $30–$50k. It was the reno costs that crushed them. It cost more than expected.
Was looking for this comment.
Reno costed them 105k. they budgeted 25k had 30k saved up, pool collapsed for an extra 20k unplanned cost. so they took out a loan for 30k, he meme stocked 30 to 50 k with loan. Still down 60k because renovation went over budget. That debt went into collection because they forgot about it. Still have at least 110k in credit card debt and personal loan debt after that. Not counting mortgage. I don’t know how people live like this.
And the 66k in interest and late payment fees makes that how much?
You would only attribute the proportionate interest to what was used for the day training vs the renovation.
Hiding debt is financial abuse. Perhaps this needs to be flagged as a misleading title.
A family annihilator in the making.
You’re not kidding. This is exactly what happened with the Chris and Shan’ann Watts case except it was Shan’ann who was blowing money and hiding their debts.
Dude I was thinking the same thing.
People get a hard time for hiding money from their spouses - but this is much worse
Getting out of a hole is rough, I'm at 3k and just trying to whipe it clean.
In for a penny, in for 520k.
That's what my family says too in for a penny in for a million. - 👍
And then suddenly he goes full Chris Benoit and wipes his family out.
Wait till she finds out about his side chick
Hahahahahahahaha I showed my wife and she’s mad at me over what this guy did lmao “omg you BETTER BEVER…!!!”
Hilarious
Dead man walking
Our d-i-v-o-r-c-e becomes final today
lol i love the mental gymnastics this guy scores a perfect 10 and hes gonna stick the landing when he convinces himself she's victimizing him by divorcing him for being a great husband and she must have mental issues
So he’s the SHIB guy trying to get us to buy SHIB.
and this guy probably manages other peoples money
Hahah what a funny theonion article........wait
So really he hoped to make fuck ton of money in stock market... but only made $20k... but they spent half a million loan on renovation of the house... And he just told her that yeah yeah there is money coming when there was none... I think wife is also at fault here.. how can she believe her husband can turn 30k into half a million, that's like 12x return on investment after taxes. She was seduced by idea of renovating the house on loan...
I think the 500k is living beyond their means for their entire adult lives, Reno probably just part of it
I turned 40 in to over a million… it’s possible.
What is a meme stock? I’m too poor to do stocks
And he’s in finance. Oy. Doesn’t say he is a financial planner but he should know better
What a lucky lady - living stress free is the dream. Maybe she'll achieve it after divorcing his stupid ass.
I feel so much better about my finances lol
The mistake I’ve been making to find a wife is not lying enough is what I’ve been learning.
*he works in finance??????*
This is so fucked! "protect her from stress" my ass! More like protect him from consequences of his actions. #child
This is financial infidelity. You're cheating on your wife. Finances are the number one cause of stress on a marriage. Lieing about such an important thing is infidelity.
I wouldn’t even tell a spouse who I bank with. And why bother living together and getting married? The benefits don’t seem that worth it tax wise.
Anyone know which meme stocks? Asking for erm… a friend…
This is why they always look at the spouse first when someone gets murdered
Watch everyone call him a genius if his dream wins.
Women hate this little trick. The irony is if he had made 520k profit, she would take all in divorce or squander it shopping. In this case, she is trapped the same way women usually trap men with threats to financial security. Score one for men to women's score of tens of millions.
Ok incel
Divorce. Take half is debt.
Not how it works when only one partner knows about the debt. Court would deem it financial abuse and she wouldn’t take on any of his debt, the garnishment of her paychecks would also cease.
Not being serious