Ask MetaFilter questions in the work & money category

Upside down mortgage?

scratch — Mon, 28 Dec 2009 06:07:35 -0800

How do I know if I have an "upside down" mortgage? Everyone says the answer is "When you owe more than your house is worth." How do I know what my house is worth? It's been on the market for four months at a certain price (suggested by the realtor) and has attracted no buyer interest. I understand "what it is worth" to be synonymous to "what someone will pay for it." We are itching to dump the house and move to a happier place (lit. and fig.), and all these news reports about strategic defaults and "walking away" are making me crazy.

For that matter, how is it strategic to default/walk away if that will fcuk up our credit for 7-10 years? It can be hard even to rent an apartment if you have bad credit, right?

Details: in PA but not Pittsburgh or Philly. FHA mortgage. House in my and my husband's name. We're 42. At the moment we have excellent credit and decent savings but a load of grad school debt (currently in unemployment deferment) in addition to the mortgage.

I know, we ought to talk to a lawyer, but I'm hoping for some helpful free advice from the hive (as ever). Thanks.

How can a mother with tiny kids make a living?

Anonymous — Sun, 27 Dec 2009 17:00:31 -0800

Brainstorm with me. I've got two babies, a failed life plan, no resume, and I need to build a future. What would you do? I'm a 31 year old woman with a degree in Writing. I have no work experience save my writing clips. I have a toddler and another baby on the way.

I anticipated raising my babies myself, and being a freelancer. I am those things, but my freelance work only totals about $300 a month. My husband is a good man. But he only earns about 1900 a month. I can't force him to earn more.

I have recently decided that my feminist friend was right all along. That despite how I was raised, 'it isn't a man's job to take care of me'. If I'm the one who wants more money, I'm going to have to be the one to find it. Though it is technically possible, it feels like defeat to sentence my family of four to live on 2200 a month. Our mortgage is near half that (one of the cheapest houses in town, I swear).

Please understand that this wasn't the plan. We were cautious people with a plan that didn't work. We wouldn't have started a family if we knew we'd hit the wall at $2000 annual over the poverty line.

I thought about getting an online MLIS (librarian's degree). Its up my ally. I have connections to three of the 10 libraries within commuting distance. The time to get the degree would allow me to see my kids to preschool before I started work. Median income is twice what my my husband makes. Maybe he could even stay home with the kids. But my husband, who works in the field, says it's a bad investment, that he knows people with that degree who have been looking for years for work.

Any low end job will be all but negated by the price of child-care. (No family lives nearby to watch the children).

I do not know what to do. I have two babies that I desperately wanted to raise myself. I feel hobbled.

What would you do if you were me? With these details? How would you take responsibility for your life?

Thank you for your time.

Interesting health-related rental business ideas?

pallen123 — Sun, 27 Dec 2009 10:26:45 -0800

Anyone have any interesting medical or health-related rental ideas? I'm interested in starting a local rental business, and am researching ideas. Considering people are living longer, with more conditions and disability, any interesting ideas for a rental business?

How to help rural hometown friends survive in this economy?

ElfWord — Sun, 27 Dec 2009 08:56:16 -0800

What's the best way to help my rural hometown friends survive in this economy? My hometown is a small city in north Georgia; less than 15,000 people or so. There isn't even a section of Craigslist for the surrounding area. A lot of my friends here are really struggling with finding a job or some way to pay the bills. There isn't so much as a McDonald's level position open.

I'm in town from Boston for a month to see family, and make some business trips to Atlanta, but while I'm here I'd really love to find some advice to give to help my friends. I don't have money to invest in them or any way to directly support them yet; I'm in the middle of trying to bootstrap a business off the ground myself.

In conversations we've had so far (initiated by them, I'm not pushing anything on anyone or talking down), I've talked about the importance of learning new skills, and the opportunity to make money from outside the local area via online freelance work. I'm hoping AskMe can...

* recommend some legitimate online opportunities to make money; including opportunities that would require them to learn a new skill (so long as it's feasible they could do so quickly).
* provide ideas for what type of non-obvious opportunities to make money there might be in a small rural town.
* provide other advice I should pass along.

Thanks in advance for all suggestions.

How do I get knee deep in...sewer jobs?

TheArpenter — Sat, 26 Dec 2009 17:49:54 -0800

How can I get into the sewers? I went to college, studied business, started a career, moved up in my career, and just recently realized (through the death of a friend):
I hate my job, and not just that, I also hate who I am when I am at work.

Long story short, I realized that I really want to work in the sewers of cities. (I loved exploring underground caverns as a child, and really, REALLY enjoy cleaning mold out of my grout/cleaning my toilet. Sewers are just a natural transition.)

So...how do I do that? What are the people called who walk through the sewers and keep them clean and free of debris? How do you get this job? Is there a test?

I want you to tell me everything you know about the "city sewer industry" because I don't even know what to Google. Bonus points to anyone who can tell me about a job that uses a power washer underground.

Thank you!

CompEngr EXP

Rubbstone — Sat, 26 Dec 2009 12:49:45 -0800

What was the best experience you've had as a Computer Engineer or Computer Scientist? Bonus: experiences owning you own shop and working as a consultant. I'm researching working as a computer engineer. Any other resources you have about the profession and what it entails would also be helpful.

I've been freelancing for 3 years. What the heck do I put on my resume? Say at an interview?

OrangeSoda — Fri, 25 Dec 2009 16:25:01 -0800

Times are tough, and I am looking for part-time employment. I have been doing freelance video work for the past 3 years. How do I reflect this on my resume and what do I say in a job interview? Has anyone had a similar problem? Any tips so I sound professional and not like I've been slacking off?

How, and when, do I tell prospective employers that I am a non-driver?

Anonymous — Thu, 24 Dec 2009 12:05:17 -0800

How, and when, do I tell prospective employers that I am a non-driver? I'm in the process of seeking new employment. I work in a field which generally does not involve a lot of transit - but I could be in a position, if I move into a higher level job, where I might have to go places offsite. Even if I don't, I may find myself being asked to run an errand for supplies, or deliver an important document.

The issue here is that I am a non-driver, and it's not entirely by choice. I get debilitating panic attacks when I am on the left side of a car. Not just the driver's seat, but behind the driver's seat, too. I do not have a license, and yes, I have been like this since I was a young teenager. Please don't suggest I get some therapy; that's not what this question is about.

As a result of this, I've learned to adapt. I live in a big city with an excellent public transportation system, and I do not apply for jobs or work anywhere not accessible via public transportation. I would never apply for a job which states in the job requirements that I must have a driver's license. I am aware of my limitations, and being in a big city, they're pretty easy to accommodate.

If someone ever asks me why I don't drive, I generally respond by saying, "I have a disability which precludes me from driving." But is that a good idea to tell a potential employer? I've never actually been diagnosed with anything but high anxiety. If I do tell a potential employer, when do I tell them? In the interview? After they've made an offer? What do I say? I don't want them to think that I'm just trying to get out of what many see as a peripheral job duty - "Drop this at the field office on your way home, would you?"

401k overpayment dilemma

Anonymous — Thu, 24 Dec 2009 10:48:33 -0800

I overpaid into my 401k. What can/should I do? I switched jobs last year, after maxing out my 401k. I signed up for withholdings at the new company, which has a matching program, so for the last couple months of the year I had additional contributions from that.

A few months later, I realized that I'd overpaid. Looking into it, it seemed the straightforward answer was to amend one of the W-2s and get the plan to refund me the overpayment. The problem is, the first company basically refused to do it, and in the second company I'd give up all their matching funds.

I'm hoping that, since this is just a tax issue, I can simply pay taxes on the overpaid amount directly to the IRS (which might allow me to keep my matching funds, hence the anonymous question -- I don't feel like it's cheating, but I can see how others might disagree). I've also seen some suggestions that the IRS itself should have picked up on this and sent me a 1099-R to make this correction. Any experts out there willing to weigh in?

How does Baskin-Robbins stay in business?

crazycanuck — Thu, 24 Dec 2009 07:50:19 -0800

How does Baskin-Robbins stay in business? Baskin-Robbins has over 5000 franchise locations. They're open year round, even in the damp Pacific northwest. They cannot get a ton of foot traffic in some of these locations, especially since some that I know of are not in pedestrian friendly spots. Are ice cream cakes and a couple of hours a day of ice cream cones really high margin enough to sustain a retail location? How is ice cream a profitable business? I am surprised that they are able to sustain so many stores. Thanks

Ok to use a public insurance adjuster?

neilkod — Wed, 23 Dec 2009 14:17:38 -0800

Flood! Will it be worthwhile for me to use a licensed public adjuster to handle a flood insurance claim? A neighbor, who has been in this position with both his own home and his rental properties recommended I consider a public insurance adjuster. I'd love to hear your thoughts and experiences. I'm trying to be a good mefite and honor the 'if it sounds too good to be true' axiom, but I need to make sure. We took on some damage (and two cars were totaled because of interior flooding) and I want to make sure I'm treated fairly.

Help me buy or start a company

Anonymous — Wed, 23 Dec 2009 09:39:36 -0800

Suppose an entrepreneur has 100k to 200k cash. He has some experience launching and marketing a small scale services firm, but has no financial background. He wants to use his 100/200k to start a new business venture. Is it better to use the 100k as seed money to start something from the ground up, or to get a loan and buy a company of, say, some 500k-700k worth? What kind of company would 500k buy? Am I right to assume that it would buy a company with about 50k profits yearly (10x annual profit?).

What do you look for when buying a new business? What are the pitfalls of starting a second business next to your primary one? Can you show me some good books or blogs or webinars on the subject?

How do I rid myself of a bitter "fuck you" attitude I'm now feeling towards ANY future employer?

Anonymous — Tue, 22 Dec 2009 16:41:07 -0800

I am bitter towards companies in general, and that's not a useful attitude to have as (hopefully) a round of January interviews approach. Help me. I was laid off more than a year ago. When I was laid off, I was told -- at some length -- about how the decision was not in any way, shape or form a reflection of how they felt about the job I had done for them. It was strictly based on seniority -- they were cutting many people that day, and of them, they were cutting the two most junior employees in the department in which I worked. I had been there for nearly three years, but I was still the second most junior employee in that department, and thus was shown the door. (Parenthetically, I have an educated guess that the local human resources employees who laid me off that day had next to no slack on who was selected; I am pretty sure the company's central office micromanaged precisely which cuts were made from where with no input from local HR. Some of the people let go elsewhere were bulwarks of that company who, if local HR had any input, would almost definitely have been kept.)

At the job prior to this last one from which I was laid off, I was fired. It was good that I got fired, because it shocked me into realizing a faulty tenet that I had been carrying around until then: that somehow, some inherent sense of justice in the universe meant that I was "owed" a place to go where I could give them my labors and they would give me money in return. I still don't think I did a poor job there, but there were a number of significantly distracting and very large-scale personal issues going on in my life that really prevented me from giving my all, and in retrospect, my firing was understandable, if not kind.

That changed at my next employer. I grew to actually really like that company. I devoted myself to my job, and brought all my skills and talents to it. I went above and beyond; I was constantly given sterling reviews and better-than-the-company's-average annual salary bumps. I was one of those guys that everyone feels fairly warmly towards. I was always willing to offer anyone a helping hand if I could possibly do it. I was never even asked to do it, but I gave them a lot of free overtime, cumulatively, figuring that being asked to stay late 20 minutes or so wasn't bad, especially as the company was equally flexible with the extremely occasional moments I needed a little give.

The tenet I began to form at this employer -- again, subconsciously -- was one I think a lot of people share. If you give an employer your best, and make yourself as invaluable and as good a "buy" for their salary money as possible, then you're a valuable asset and the company will accordingly continue employing you.

Now, it feels as if that can't be relied upon either, and the replacement proposition one might form from my experience is: "An employer will be happy to fire you the moment its bottom line is threatened. It has absolutely no interest in you other than as a cog in its processes; if you're a bad enough worker, you'll break the machine and then they'll fire you. But they don't care if you're a particularly good cog, either. They'll swap you out the moment they want to."

And, to some extent, I know that's true. But it's also a deeply cynical worldview that inclines one to go around each and every day with an attitude of "Fuck you, [employer]!" And not only does that incline you towards being a poor employee, that also is just a poisonous emotion to have in your psyche about the place where you'll spend eight-plus hours of each day. I really don't want that emotional baggage in my head each and every day. Some other stuff has had me a lot happier in general, so I really don't want to be renting brainspace to this emotion for an indefinite lease.

I've not been confronted with the question yet because companies have simply not been hiring for my position for most of the past year, so interviews have been near non-existent. That is already showing signs of significantly changing next month.

How do I do this? How can I go to an employer and interview with them and not feel so deeply hostile towards a company that, as of yet, will have done nothing to deserve it?

Inner City to Inner Hippie

sadtomato — Tue, 22 Dec 2009 16:32:59 -0800

I currently teach high school in a low income area in a large suburb of Vancouver, BC. I am considering a move to a small community and am wondering what to expect. My school has been designated Inner City, because of the low income area, high student transient rate, and students in some form of government care (read: foster care, social worker supervision, social assistance dependent). While I deal with a lot of the problems of a low income school, the kids are really great, friendly kids. Teachers that come to our school from higher income areas always comment on how nice our kids are, and that their former students seem to have a sense of entitlement that is absent at my school. A lot of our students have such crappy lives that any kindness at all is very well received.

One thing that I really like about where I live and teach is that the two places are far apart. I rarely bump into a student when out doing personal errands, or at a restaurant, for example.

What is it like to be a much tighter part of the community with students and parents? What can I expect to be different, the same? What are some issues that I may not be considering at all?

Atypical ways to get interviews at companies?

kelechv — Tue, 22 Dec 2009 14:40:39 -0800

Almost every job I have ever received came from responding to a Craigslist/Monster/Indeed.com ad. This strategy doesn't seem to work as well anymore, likely due to astounding increases in online application volume. Besides simply knowing someone at the company, what are other ways you've had success in getting interviews?

Finance Interview Questions

Anonymous — Tue, 22 Dec 2009 08:50:50 -0800

I am being interviewed for a Summer Internship position at an NYC bank tomorrow. I have some questions about this inside. Firstly, I will be expected to be very familiar with current financial news, market trends, etc. I have not been reading the WSJ every day, so I ask you: what are the most important current events in the financial world that I should make sure to review before I get quizzed about them? Which news stories should I make sure to know about?

Second, what are the kinds of questions that they would ask a math-y person without a finance background? What is the best way to answer them?

Third, do you have any other specific tips for me?

WorkAccidentFilter: Help me protect my mother.

jofuu — Tue, 22 Dec 2009 07:52:07 -0800

She's burned her hands at work and I fear the company doesn't even want her around. Here's a little (err, lengthy) backstory...

My mother just turned fifty years old. Previously, she ran her own house cleaning business for seven years before her arthritis forced her to leave. Over the past few years she's gone from job to job, never really fitting in and usually leaving (or being let go) from around 6 months to a year. Mostly she has picked up work waiting at various restaurants, but at five feet tall, diagnosed with post-trauma stress, alcoholism and arthritis it shouldn't be too difficult to understand why things haven't worked out. Unfortunately this is the type of work she's done all her life.

She has a tendency to be overbearing in that she never stops talking (in part, I feel, from the very solitary lifestyle she's acquired.) She doesn't really have friends because of this and, having no friends and little family who care to deal with her stress, has absolutely no confidence and seems to be always throwing herself under the bus in an effort of falling under the good graces of others.

!!!!!!!!!!!!!!!!!!!!!!!
So last week she started at a little soup shop that just opened up in her town. After a few days of training they eventually stuck her in the back kitchen thawing and handling bags of hot soup (160 - 200 degrees F). After her first day she complained that she had burned her hands. (The shop didn't supply their workers with any sort of protective wear) She had even attempted to explain to her boss the situation, but he was "busy". By morning the pain had not gone away so she visited the walk in hospital where they told her she had first degree burns and that she shouldn't be handling anything so hot in the near future. She was advised to have her boss file an accident report and then file workmen's comp.

The next day she was scheduled to work the front register and she went in as scheduled. Upon arriving she learned she would once again be handling the hot soup in the kitchen. Knowing that if she complained, not only would she incur the scrutiny of her boss, but her coworkers also - she stuck it out another day in the kitchen (she said her hands had been feeling better and would work with them). Last night she calls me up crying because again her hands are burned. She called the hospital back and they told her she should DEFINITELY not have worked in the kitchen, and that until she files workmen's comp. she shouldn't be working at all. So she called out of work today and explained what was needed before she could return. My obvious concern is what repercussions her attendance will have on her future employment with the company, and if the negligence on the part of her boss is wholly unwarranted and due, in part, to a personal bias against my mothers individual persona.

In the event she is let go, or neglected to the effect of her leaving, how can I protect her? I just helped her sign a lease on a new apartment and I don't know what we will do if her income is cut off. For the past few months she has received unemployment (which we will only partial now that she has a new job).
!!!!!!!!!!!!!!!!!!!!!!!

Her situation is recurring. The opinion of her family and former friends generally falls somewhere between sympathy and an attitude of questioning her ethics and values. She comes from a staunchly lower-middle class family (Catholic, nonetheless) but the town she was born and raised, which she raised my brother and I, has been slowly inculcated with an air of superiority due to a flood of new money. Life here is too fast for her, no doubt, but there is no where else to go. (and I can guarantee you, if there was money for a lawyer I wouldn't be posting this on Metafilter, no offense :) )

Yes, she struggles with alcoholism and has been charged with various petty charges due to her behavior when drinking, but she attends all the programs the state demands of her (at the expense of her time/energy/money). She's a very lonely person who doesn't have the means to help herself, and most people around her blame her struggles solely on her, or at least cannot make the effort to see the effect of the larger social system on the individual. One last thing I would like to mention is that, when she realized she had a drinking problem years ago she brought it up to social services and asked for help for the three of us, wherein DCF charged her with neglect and threatened to remove us from the home. She was in the middle of getting a degree so she could become a teacher and, now with much time wasted due to the neglect charge, finished her degree for nought. (At the risk of this becoming a tirade I would just like to throw it out there that in my opinion social services in the United States have much more to due with maintaining a population of workers than it does with helping individuals better their lives.)

New economy, new investors, old scam. Help!

Arch1 — Tue, 22 Dec 2009 07:33:34 -0800

Broker is pointing my 35 year old sister in law and spouse to a *variable annuity* as their first retirement saving choice. My relatives are late to starting to save, and have $20,000 set aside (taxes already paid). They don't have an IRA or 401(k). I've tried to explain the differences, but I'm looking for specific, recent web content that addresses starting to save for retirement for folks that have poet-level understanding. Help, mefites! It's not enough set aside to warrant a fee-based financial planner, but certainly merits good advice from good people.

And yes, they have their emergency fund and have zeroed the credit card debt. Thanks again!

Business Matters with Zo Sign Cancers

InterestedInKnowing — Mon, 21 Dec 2009 22:47:44 -0800

Astrology filter: How do I conduct business with a Cancer? I have a few friends who are Cancers and boy are they confusing! They don't seem too dependable but I need a project done with a couple of them. So, I'd like to know what's the best way to communicate with a Cancer when it comes down to business matters. Help!

Selling an underwater house?

antipode12 — Mon, 21 Dec 2009 18:15:48 -0800

Previously I was considering bankruptcy, but now I'm considering selling my house. My fiancee has left, I have $50k in CC debt, student loans, and a mortgage that is under water by $15-25K. Renting it out will only cover 2/3 of the mortgage/taxes/ins., and nowhere to live. I'm thinking about selling it, but what happens if I sell for less than I owe? Also, I'd be responsible for the realtor's fee (4-6%= appx. $20-25K). Add those together, and it's 30k to 50k to SELL my house and get out from under the mortgage. What happens to the balance that I would owe? Thanks!

Exchange rate for repaying debts?

Weng — Mon, 21 Dec 2009 16:41:42 -0800

FinanciallyCluelessFilter: If I borrowed money from a friend in British pounds (when I was in the UK) and am now repaying him in Australian dollars, should I be repaying him at the current exchange rate, or the historical exchange rate at the time of the loan? I'm guessing the latter, but I'm interested to know other people's opinions / if there is a standard practice. I just noticed that the difference between the current exchange rate and that of a few years ago, would make a couple of thousand dollars difference in the total of the debt repayment. (On a related point, should I/he be factoring in the actual fees for currency exchange?)

Something's Contract Brewing

soy_renfield — Mon, 21 Dec 2009 12:22:05 -0800

How much does contract brewing cost? A friend of mine is an exceptional home-brewer. I am interested in helping him to start a business around his beer, and I want to know how much it would cost to have a brewery brew one of his beers on contract. I have had a hard time finding information on actual costs.

How much money would it cost, per keg or case, to brew a basic beer at a contract brewery? What is a typical minimum order? If it matters, we live in New York City.

Am I eligible for unemployment if my employer is officially in a different state?

Anonymous — Mon, 21 Dec 2009 11:48:31 -0800

I think that I may be getting laid off soon and need some clarification about unemployment benefits in New Jersey. I'm trying to call their question line, but it is busy every time. I am concerned about my eligibility because my employer is officially in NY. I have been working as a salaried employee for an outsourcing company that has been contracting me out to the same client the whole time.

For the first two years, my employer was headquartered in NJ, while the client's address was in NY and that is where I worked. I lived in a different, third, state at first, eventually moving to NJ after a year and a half.

After two years, my employer moved to NY, my place of work (office) moved to NJ, while the client's official address remained in NY. This is how it has remained for the past 2+ years; I continued to live in NJ.

From the point I moved to NJ, that is where I have been paying my state taxes. My driver's license has always been from the third state-- I never switched it over.

Given this complicated arrangement, am I likely to encounter problems applying for unemployment benefits? The part that I am concerned about is that the web site states:

You may file your new unemployment claim, or reopen an existing claim via the Internet if you meet all the following requirements:All of your work was in New Jersey in the past 18 months

Since my employer's official address is in NY, does this mean that I need to file by phone or in person, or that I am eligible at all? Or does the fact that my office was in NJ count for something?

Bonus question: In the past 6 months or so, my responsibilities and workload have changed significantly. My title and salary have remained unchanged. Can I resign based on this fact and still be eligible for benefits? Does my employer have enough incentive to fight this?

Small business tax guide?

entropic — Mon, 21 Dec 2009 07:33:22 -0800

Can you point me to a simple online tax guide for small businesses? I'm looking for a simple tax guide for a small business owner - ideally something that tells me what forms I need to fill out based on our status (LLC filing as a partnership), what deadlines I need to be aware of, how to document various expenses (i.e. reimbursing myself for startup expenses), etc. I know you ANAA, ANAL, etc. Also, any recommendations for a book are welcome. Right now I'm considering JK Lasser's Small Business Taxes 2010.

HR-Filter: How does the temp agency you work for store its secure documents?

griphus — Mon, 21 Dec 2009 05:56:46 -0800

Document Imagine/HR-Filter: How does your large company store its secure documents? Okay, so I work on the admin end of a temp agency (i.e. not as a temp.) I'm in charge of document imaging. Rather, I'm in charge of creating a document imaging infrastructure. My boss said I can purchase any software I need so that we may retain the documents the temps fill in when they register. We have a lot of registered temps/day (>100) but this is a small non-profit with a limited budget, so software over a couple of thousand is out of the question. Bonuses for software companies w/ discounts for non-profits. Getting a consultant for this or speaking to a lawyer regarding any of these matters is also out of the question.

So, what system do you recommend for retention of Federal (I-9/W4) and HIPAA documents? By the rules, it has to be secure and able to track all reads and writes of/to the scanned documents.

I don't really need indexing software because we don't have an industrial scanner and because all incoming files are checked by hand.

Finally, if you have a company in NYC that has such a system set up, I would have no problem showing up to your offices for a tour. In fact, I'll take you out to lunch or something for the privilege. (Mods, please delete this request if it is against the rules)