Author Topic: Overheard at Work: The Anti-Antimustachian Edition  (Read 338138 times)

neverrun

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #900 on: April 05, 2017, 05:43:06 PM »
Had a conversation with a co-worker today.  He knows I pay attention to finances and retirement.  I and a fellow co-worker convinced him to max out our 401k sometime in the last 4 years and to invest it in a target date retirement fund (he wouldn't be comfortable being more aggressive).  He felt the family budget now left them more money and was wondering what to do next.  I asked about a Roth and a Spousal Roth.  He was going to look into opening those soon.  This is on top of him having a son with special needs that easily could justify "we can't afford to save."

Threshkin

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #901 on: April 07, 2017, 10:54:23 AM »
Had a conversation with a co-worker today.  He knows I pay attention to finances and retirement.  I and a fellow co-worker convinced him to max out our 401k sometime in the last 4 years and to invest it in a target date retirement fund (he wouldn't be comfortable being more aggressive).  He felt the family budget now left them more money and was wondering what to do next.  I asked about a Roth and a Spousal Roth.  He was going to look into opening those soon.  This is on top of him having a son with special needs that easily could justify "we can't afford to save."

Good job with your coworker!

"We (or You) can't afford not to save."  is what I preach whenever possible.

Playing with Fire UK

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #902 on: April 07, 2017, 03:28:58 PM »
Had a conversation with a co-worker today.  He knows I pay attention to finances and retirement.  I and a fellow co-worker convinced him to max out our 401k sometime in the last 4 years and to invest it in a target date retirement fund (he wouldn't be comfortable being more aggressive).  He felt the family budget now left them more money and was wondering what to do next.  I asked about a Roth and a Spousal Roth.  He was going to look into opening those soon.  This is on top of him having a son with special needs that easily could justify "we can't afford to save."

Good job with your coworker!

"We (or You) can't afford not to save."  is what I preach whenever possible.


Love this.

bigalsmith101

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #903 on: April 12, 2017, 02:36:46 PM »
A friend of mine makes $150k+ annually, by himself. His savings rate is 50%+ of after tax income. He lives alone, smack in the middle of a HCOL area. He has a very high discretionary income.

Aforementioned friend has an '03 Ford Ranger Pickup with a manual transmission. It's got 167k miles, doesn't have door locks (was broken into more than once), has a rebuilt title, and otherwise is just a very basic rather ugly car. It's not worth much, and just recently the clutch went out, and he'll likely have it towed to a shop. Some of his friends tell him to buy a new car, he laughs at them. For reference, similar vehicles can be purchased for about $3-5k depending on mileage/heritage.

A group of 5 of us (friend included) communicate via a group text message, to help him with his mechanical issues, as he's self-admittedly very non-mechanically inclined.

We asked him, what's your threshold for repair cost versus just dumping the pickup? He says, "I want to hit 250k miles, so I figure, probably $2000. If it's more than that, I might consider a new-to-me car, but even then, I might just repair it. I don't need a new car."

He paid $6500 for the car, 10 years ago, and has driven it 120k miles so far. This guy could easily purchase any new car he wanted to, but won't. FUCK YEA!
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firelight

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #904 on: April 13, 2017, 01:38:22 AM »
A friend of mine makes $150k+ annually, by himself. His savings rate is 50%+ of after tax income. He lives alone, smack in the middle of a HCOL area. He has a very high discretionary income.

Aforementioned friend has an '03 Ford Ranger Pickup with a manual transmission. It's got 167k miles, doesn't have door locks (was broken into more than once), has a rebuilt title, and otherwise is just a very basic rather ugly car. It's not worth much, and just recently the clutch went out, and he'll likely have it towed to a shop. Some of his friends tell him to buy a new car, he laughs at them. For reference, similar vehicles can be purchased for about $3-5k depending on mileage/heritage.

A group of 5 of us (friend included) communicate via a group text message, to help him with his mechanical issues, as he's self-admittedly very non-mechanically inclined.

We asked him, what's your threshold for repair cost versus just dumping the pickup? He says, "I want to hit 250k miles, so I figure, probably $2000. If it's more than that, I might consider a new-to-me car, but even then, I might just repair it. I don't need a new car."

He paid $6500 for the car, 10 years ago, and has driven it 120k miles so far. This guy could easily purchase any new car he wanted to, but won't. FUCK YEA!
Seems like someone ripe for FIRE discussion! Has he shown any interest in FIRE?

bigalsmith101

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #905 on: April 14, 2017, 06:40:08 PM »
A friend of mine makes $150k+ annually, by himself. His savings rate is 50%+ of after tax income. He lives alone, smack in the middle of a HCOL area. He has a very high discretionary income.

Aforementioned friend has an '03 Ford Ranger Pickup with a manual transmission. It's got 167k miles, doesn't have door locks (was broken into more than once), has a rebuilt title, and otherwise is just a very basic rather ugly car. It's not worth much, and just recently the clutch went out, and he'll likely have it towed to a shop. Some of his friends tell him to buy a new car, he laughs at them. For reference, similar vehicles can be purchased for about $3-5k depending on mileage/heritage.

A group of 5 of us (friend included) communicate via a group text message, to help him with his mechanical issues, as he's self-admittedly very non-mechanically inclined.

We asked him, what's your threshold for repair cost versus just dumping the pickup? He says, "I want to hit 250k miles, so I figure, probably $2000. If it's more than that, I might consider a new-to-me car, but even then, I might just repair it. I don't need a new car."

He paid $6500 for the car, 10 years ago, and has driven it 120k miles so far. This guy could easily purchase any new car he wanted to, but won't. FUCK YEA!
Seems like someone ripe for FIRE discussion! Has he shown any interest in FIRE?

Ha. Turns out he introduced me to the forum. He's not as frugal with his money as he could be. But he's very frugal with his time. And he earns a shit load, and save the majority. His expenses could be lower, but he values what he spends his money on.
I spent the first 6 years of "real" life in a self imposed semi retirement, to secure a lifetime of stories. Now it's time to secure the next lifetime through the badassity of FI.

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Vindicated

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #906 on: April 21, 2017, 09:30:31 AM »
P2F, though I don't have anything to add yet.  I much prefer reading these stories, as compared to the negative thread.
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starjay

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #907 on: April 24, 2017, 09:13:42 AM »
Not at work, but with a friend who is retired & somewhere in his late 60s, early 70s:

Him: "We wouldn't be able to live on our own/like we do if my wife hadn't insisted on paying off our mortgage years ago."
Me: Polite, quizzical noise to encourage him.
Him: "Against all math logic - our savings were earning 15%, and our mortgage was locked in at 6% or so, so I told her to save the inheritance she'd gotten and put it to work earning 15%, but she insisted on the peace of mind of a paid off mortgage. Then interest rates fell to single-digits, but we've been able to save all the money that we would've paid into the mortgage, earn some interest on it, and we don't have to worry about still owing the bank in our retirement."
He also told me they haven't borrowed any money since then, not even to buy the fancy but used vehicles they drive; bought them outright.

I had no idea they were a bit mustachian. :)

mtn

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #908 on: April 24, 2017, 09:28:09 AM »
My neighbors--every time I see the guy outside, he starts talking about how I should be investing in VTSMX. He and his wife were extremely fortunate--she was a flight attendant, and he a public school teacher, but they made the absolute most of it.

She now has a pension and free flights for them to go to their vacation home, or Costa Rica, or a cruise. He had a pension from the school system--he retired ASAP, then went to work in private education. All the while, both of them maxed their 401k/403b/whatever it was that was available. Now he complains that they make him take out more than he needs.

frugalnacho

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #909 on: April 24, 2017, 02:29:02 PM »
My neighbors--every time I see the guy outside, he starts talking about how I should be investing in VTSMX. He and his wife were extremely fortunate--she was a flight attendant, and he a public school teacher, but they made the absolute most of it.

She now has a pension and free flights for them to go to their vacation home, or Costa Rica, or a cruise. He had a pension from the school system--he retired ASAP, then went to work in private education. All the while, both of them maxed their 401k/403b/whatever it was that was available. Now he complains that they make him take out more than he needs.

Poor guy.

Inaya

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #910 on: April 26, 2017, 08:06:45 AM »
My boss told me they just finished paying his wife's student loans from veterinary school. He said they were ~$50k when they got married, and I don't think they've been married that long (5-6 years maybe? they have a 4 year old and a 2 year old), so it seems like they knocked it out pretty quickly. Not surprised. He brings his lunch almost every day, and it's usually leftovers.
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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #911 on: May 08, 2017, 08:11:23 PM »
This might belong here.

A new initiative by Youth Food Movement Australia encourages workplaces to pool their leftovers to avoid food wastage and promote team bonding by cooking in the work kitchen.

http://www.abc.net.au/news/2017-05-09/cook-at-work-to-wage-a-war-on-waste/8506486

kelvin

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #912 on: May 10, 2017, 12:29:20 PM »
I'm just recovering from surgery, first week back. Can't bike to work yet (doctor's orders). Decided to Uber - $15 each way, for a three day work week.

One of my coworkers gave me his Uber login because he had $20 free on Uber that he's not going to use. Thanks, friend!

Dollar Slice

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #913 on: May 10, 2017, 12:48:37 PM »
I'm just recovering from surgery, first week back. Can't bike to work yet (doctor's orders). Decided to Uber - $15 each way, for a three day work week.

One of my coworkers gave me his Uber login because he had $20 free on Uber that he's not going to use. Thanks, friend!

If there are other similar services in your area (Lyft, Via, Gett, etc.), you can get free money through referrals if you sign up and try them out. I use Via and my friends get a $10 credit if they sign up through me. Not sure how much other services give.
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zolotiyeruki

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #914 on: May 22, 2017, 08:12:35 AM »
The owner of the building where I work recently changed out their halogen (I think) parking lot lights for LED fixtures.  As it turns out, the old bulbs are similarly efficient to LEDs, but since the LED fixtures are more directional, they can be half the wattage and still illuminate the parking lot just as well.  With the state rebates, it turned out to be a pretty good deal. Plus, they won't have to replace them for a *very* long time.

mtn

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #915 on: May 22, 2017, 08:46:31 AM »
The owner of the building where I work recently changed out their halogen (I think) parking lot lights for LED fixtures.  As it turns out, the old bulbs are similarly efficient to LEDs, but since the LED fixtures are more directional, they can be half the wattage and still illuminate the parking lot just as well.  With the state rebates, it turned out to be a pretty good deal. Plus, they won't have to replace them for a *very* long time.

I don't think they're similarly efficient... For one thing, the heat from Halogen alone has to mean that you're wasting a lot of energy. But good move though. I'm down to 1 halogen bulb left in the house, and maybe 10 CFL's in rarely used spaces (attic, basement)

zolotiyeruki

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #916 on: May 22, 2017, 09:07:28 AM »
The owner of the building where I work recently changed out their halogen (I think) parking lot lights for LED fixtures.  As it turns out, the old bulbs are similarly efficient to LEDs, but since the LED fixtures are more directional, they can be half the wattage and still illuminate the parking lot just as well.  With the state rebates, it turned out to be a pretty good deal. Plus, they won't have to replace them for a *very* long time.

I don't think they're similarly efficient... For one thing, the heat from Halogen alone has to mean that you're wasting a lot of energy. But good move though. I'm down to 1 halogen bulb left in the house, and maybe 10 CFL's in rarely used spaces (attic, basement)
Maybe high-pressure sodium, then? When I did the research, it turned out to be similar lumens/watt.

LennStar

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #917 on: May 22, 2017, 01:09:56 PM »
The owner of the building where I work recently changed out their halogen (I think) parking lot lights for LED fixtures.  As it turns out, the old bulbs are similarly efficient to LEDs, but since the LED fixtures are more directional, they can be half the wattage and still illuminate the parking lot just as well.  With the state rebates, it turned out to be a pretty good deal. Plus, they won't have to replace them for a *very* long time.

I don't think they're similarly efficient... For one thing, the heat from Halogen alone has to mean that you're wasting a lot of energy. But good move though. I'm down to 1 halogen bulb left in the house, and maybe 10 CFL's in rarely used spaces (attic, basement)
Maybe high-pressure sodium, then? When I did the research, it turned out to be similar lumens/watt.
That sounds more like it. Halogan use about 3 times more electricity per lumen.

Also LEDs have "problems" at night since they are more effective for blue light, but night lights need red.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #918 on: June 19, 2017, 06:20:11 PM »
We're finally executing our geo-arbitrage plan.  Moving to a 40% lower cost of living area but keeping our existing income, and continuing to work on lowering our spending.  We've saved ~40%+ of our income annually since finding MMM 3 years ago.  I think this move will boost that by an additional 15-20%!

Something that's been interesting in this process is the difference in conversations with co-workers.

Some can't believe that we would even think about moving our "entire family" out of the area, <sarcasm>which apparently is the one and only place one could possibly be in my industry</sarcasm>.

Other's immediately comment on the cost of living and quality of life gains.  This latter reaction has lead to some very interesting conversations, getting very close to outing myself as a mustachian.  But I just can't bring myself to do it with colleagues. Though I'm sure I've caught a knowing wink and/or glance in some situations. :-)

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #919 on: June 21, 2017, 06:23:27 PM »
Had a co-worker come to me on Monday and start off the conversation as follows: "So I was kinda drunk this weekend, and I did something stupid". My mind started formulating several scenarios - of both mundane and lurid variety. I was completely shocked when he proceeded to say "...and I maxed out my 401k contributions." Totally unexpected, and was really pumped for him. I informed him that what he did was the opposite of stupid, and something I want to do myself, but won't be able to until my student loans are paid off. We wound up talking about finances for a solid 15 minutes.

He's never come off as mustachian and I didn't bring up the site, maybe I will the next time the conversation veers in that direction.

dragoncar

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #920 on: June 21, 2017, 11:24:52 PM »
The owner of the building where I work recently changed out their halogen (I think) parking lot lights for LED fixtures.  As it turns out, the old bulbs are similarly efficient to LEDs, but since the LED fixtures are more directional, they can be half the wattage and still illuminate the parking lot just as well.  With the state rebates, it turned out to be a pretty good deal. Plus, they won't have to replace them for a *very* long time.


I don't think they're similarly efficient... For one thing, the heat from Halogen alone has to mean that you're wasting a lot of energy. But good move though. I'm down to 1 halogen bulb left in the house, and maybe 10 CFL's in rarely used spaces (attic, basement)
Maybe high-pressure sodium, then? When I did the research, it turned out to be similar lumens/watt.
That sounds more like it. Halogan use about 3 times more electricity per lumen.

Also LEDs have "problems" at night since they are more effective for blue light, but night lights need red.

According to Wikipedia, red-orange has the highest efficacy
« Last Edit: June 22, 2017, 01:06:05 PM by dragoncar »

rencelas

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #921 on: June 22, 2017, 05:33:39 AM »
The owner of the building where I work recently changed out their halogen (I think) parking lot lights for LED fixtures.  As it turns out, the old bulbs are similarly efficient to LEDs, but since the LED fixtures are more directional, they can be half the wattage and still illuminate the parking lot just as well.  With the state rebates, it turned out to be a pretty good deal. Plus, they won't have to replace them for a *very* long time.

I was plant manager of a very large manufacturing plant recently. We switched out all of our halogen bulbs, and many of our fluorescent fixtures, with LED. The halogen was a no brainer, cost wise, the fluorescent, not so much. However - your last point is spot on. My maintenance guys were forever replacing bulbs. Between bulbs burning out, disposal and handling of tube fluorescents, and the rest, the cost was easily justifiable.

Plus, for the same amount of fixtures, we're getting an incredible amount more light. Replacing a ~100W worth of tube lights with 100W of LED fixtures increased the brightness by a factor of 2 or so.

Then, at the end, our power company gave us a large slug of money - which I didn't even account for.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #922 on: June 22, 2017, 08:35:14 AM »
Had a co-worker come to me on Monday and start off the conversation as follows: "So I was kinda drunk this weekend, and I did something stupid". My mind started formulating several scenarios - of both mundane and lurid variety. I was completely shocked when he proceeded to say "...and I maxed out my 401k contributions." Totally unexpected, and was really pumped for him. I informed him that what he did was the opposite of stupid, and something I want to do myself, but won't be able to until my student loans are paid off. We wound up talking about finances for a solid 15 minutes.

He's never come off as mustachian and I didn't bring up the site, maybe I will the next time the conversation veers in that direction.

That's the most unexpected plot of the drunk weekend buddy comedy genre ever. Awesome!

Inaya

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #923 on: June 22, 2017, 09:04:51 AM »
Had a co-worker come to me on Monday and start off the conversation as follows: "So I was kinda drunk this weekend, and I did something stupid". My mind started formulating several scenarios - of both mundane and lurid variety. I was completely shocked when he proceeded to say "...and I maxed out my 401k contributions." Totally unexpected, and was really pumped for him. I informed him that what he did was the opposite of stupid, and something I want to do myself, but won't be able to until my student loans are paid off. We wound up talking about finances for a solid 15 minutes.

He's never come off as mustachian and I didn't bring up the site, maybe I will the next time the conversation veers in that direction.

That's the most unexpected plot of the drunk weekend buddy comedy genre ever. Awesome!
"Hold my beer. I'm maxing out my 401k. If I survive, the HSA is next."
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TomTX

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #924 on: June 24, 2017, 11:30:46 AM »
Had a co-worker come to me on Monday and start off the conversation as follows: "So I was kinda drunk this weekend, and I did something stupid". My mind started formulating several scenarios - of both mundane and lurid variety. I was completely shocked when he proceeded to say "...and I maxed out my 401k contributions." Totally unexpected, and was really pumped for him. I informed him that what he did was the opposite of stupid, and something I want to do myself, but won't be able to until my student loans are paid off. We wound up talking about finances for a solid 15 minutes.

He's never come off as mustachian and I didn't bring up the site, maybe I will the next time the conversation veers in that direction.

That's the most unexpected plot of the drunk weekend buddy comedy genre ever. Awesome!
"Hold my beer. I'm maxing out my 401k. If I survive, the HSA is next."

Definitely drunk talking. You only do 401k to the match before maxing the HSA. Maxing the 401k is afterward, and possibly after maxing your IRA!
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TomTX

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #925 on: June 24, 2017, 01:07:22 PM »
coworker can't catch a break:

- Inherited house free and clear. Owes 3 years back taxes and is in constant fear of being foreclosed.
- No savings, no emergency account, no IRA, no 401k contributions. Emptied 401k earlier when previously laid off.
- Bought fancy truck for ~ annual salary. Traded it for different fancy truck 3 months later. Beater truck still worked.
- Needs fancy truck to tow cabin cruiser to and from lake, once per year each way.
- Owns several undriveable cars as nostalgia. Pays to garage them.
- Within 5 years of retirement. Life is unfair.

You probably want this thread: forum.mrmoneymustache.com/antimustachian-wall-of-shame-and-comedy/overheard-at-work/

The one you posted in is for more uplifting overheard at work stuff.
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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #926 on: June 25, 2017, 02:38:20 PM »
Had a co-worker come to me on Monday and start off the conversation as follows: "So I was kinda drunk this weekend, and I did something stupid". My mind started formulating several scenarios - of both mundane and lurid variety. I was completely shocked when he proceeded to say "...and I maxed out my 401k contributions." Totally unexpected, and was really pumped for him. I informed him that what he did was the opposite of stupid, and something I want to do myself, but won't be able to until my student loans are paid off. We wound up talking about finances for a solid 15 minutes.

He's never come off as mustachian and I didn't bring up the site, maybe I will the next time the conversation veers in that direction.

That's the most unexpected plot of the drunk weekend buddy comedy genre ever. Awesome!

Indeed it was!

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #927 on: June 27, 2017, 07:03:43 AM »
Had a co-worker come to me on Monday and start off the conversation as follows: "So I was kinda drunk this weekend, and I did something stupid". My mind started formulating several scenarios - of both mundane and lurid variety. I was completely shocked when he proceeded to say "...and I maxed out my 401k contributions." Totally unexpected, and was really pumped for him. I informed him that what he did was the opposite of stupid, and something I want to do myself, but won't be able to until my student loans are paid off. We wound up talking about finances for a solid 15 minutes.

He's never come off as mustachian and I didn't bring up the site, maybe I will the next time the conversation veers in that direction.

That's the most unexpected plot of the drunk weekend buddy comedy genre ever. Awesome!

Indeed it was!



http://www.theonion.com/article/man-wakes-up-from-bender-with-financial-problems-s-19858

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Linda_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #929 on: June 28, 2017, 08:16:44 AM »
http://www.theonion.com/article/man-wakes-up-from-bender-with-financial-problems-s-19858

Discovering a completely deductible Roth IRA would be worth the hangover.

Maybe some anonymous well-meaning Mustachian did this to this man while he was blacked out. And traded in his Lexus in the mans name. I guess it isn't very difficult to steal someones wallet, code brick, phone or whatever you need to get into his accounts.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #930 on: June 28, 2017, 08:50:17 AM »
http://www.theonion.com/article/man-wakes-up-from-bender-with-financial-problems-s-19858

Discovering a completely deductible Roth IRA would be worth the hangover.

Maybe some anonymous well-meaning Mustachian did this to this man while he was blacked out. And traded in his Lexus in the mans name. I guess it isn't very difficult to steal someones wallet, code brick, phone or whatever you need to get into his accounts.

Linda I know you're from outside the U.S., so I just want to clarify in case you didn't know...The Onion is a satire and comedy website.  None of their stories are real.  It's possible you're just playing along with the "news story" though, so if so just ignore this.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #931 on: June 29, 2017, 05:06:33 PM »
Had a co-worker come to me on Monday and start off the conversation as follows: "So I was kinda drunk this weekend, and I did something stupid". My mind started formulating several scenarios - of both mundane and lurid variety. I was completely shocked when he proceeded to say "...and I maxed out my 401k contributions." Totally unexpected, and was really pumped for him. I informed him that what he did was the opposite of stupid, and something I want to do myself, but won't be able to until my student loans are paid off. We wound up talking about finances for a solid 15 minutes.

He's never come off as mustachian and I didn't bring up the site, maybe I will the next time the conversation veers in that direction.

That's the most unexpected plot of the drunk weekend buddy comedy genre ever. Awesome!

Indeed it was!


http://www.theonion.com/article/man-wakes-up-from-bender-with-financial-problems-s-19858

Incredible! I will have to pass that along to my co-worker, I'm sure he'll get a kick out of it.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #932 on: June 30, 2017, 01:12:15 PM »
Had a conversation with one of my coworkers today about HSA's - I've been meaning to sort out exactly what my options are at our company and mentioned it (I've been moving and haven't had time yet.)  She apparently not only didn't realize you can invest the money, but thought it worked like a bigger FSA where you lose the money if you leave the company/change plans.  She was really excited to hear that's not the case, and sounds like she'll be looking at setting one up!

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #933 on: July 05, 2017, 07:31:52 AM »
Overheard my former boss talking. Apparently he replaced his own fuel pump in has car over the weekend rather than take it to a mechanic to have it done. It was a pleasant surprise, since he's the type to eat lunch at the work cafeteria every day (or go off-campus with some colleagues).
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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #934 on: July 06, 2017, 05:51:49 AM »
A coworker brought in a cake today to celebrate paying off her car. She drives a 2012 Prius that she bought new and has around 30,000 miles on it because "everywhere I need to go is within a few miles of my house". I asked about her house and she said she had around 8 years left paying on it. I suggested that she take that car payment and apply it to her mortgage each month, but she said she is already making double payments - the only reason she didn't refinance into a 15 year note was to have flexibility in case of a job loss. We talked a bit more about personal finance and she declared her intentions to retire by 50 - not too impressive around here I know, but where we work that is well ahead of the curve. It was so refreshing to hear her story as opposed to the rest of my coworkers who plan to be here for 20-30 more years and are the poster children for consumerism!

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #935 on: July 07, 2017, 12:12:14 PM »
A co-worker recently announced that he is retiring. He is *maybe* 48. We got to talking, and he told me that when he turned 40 he told his financial advisor that he'd like to retire by 50. The planner told him that he probably could do it sooner than that. So he did.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #936 on: July 07, 2017, 02:23:18 PM »
Posting to follow. Most of my co-workers seem fairly frugal. One is sessional so he saves during the year to be able to take the entire summer off.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #937 on: July 09, 2017, 03:52:18 AM »
A co-worker recently announced that he is retiring. He is *maybe* 48. We got to talking, and he told me that when he turned 40 he told his financial advisor that he'd like to retire by 50. The planner told him that he probably could do it sooner than that. So he did.

That must have been some good financial advisor. As I sometimes hear people on this site who have talked to advisors who don't understand the concept of badass saving.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #938 on: July 10, 2017, 12:37:21 PM »
A co-worker recently announced that he is retiring. He is *maybe* 48. We got to talking, and he told me that when he turned 40 he told his financial advisor that he'd like to retire by 50. The planner told him that he probably could do it sooner than that. So he did.

That must have been some good financial advisor. As I sometimes hear people on this site who have talked to advisors who don't understand the concept of badass saving.

From talking to him, it sounds like he already was well on his way there at 40.

MgoSam

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #939 on: July 10, 2017, 01:44:53 PM »
A co-worker recently announced that he is retiring. He is *maybe* 48. We got to talking, and he told me that when he turned 40 he told his financial advisor that he'd like to retire by 50. The planner told him that he probably could do it sooner than that. So he did.

That must have been some good financial advisor. As I sometimes hear people on this site who have talked to advisors who don't understand the concept of badass saving.

From talking to him, it sounds like he already was well on his way there at 40.

True, but I get the feeling that I could have $2M and be spending less than $25k annually and financial advisers would still tell me to keep working until I'm 65 or have $10M or some insane figure. I could be wrong, the one financial adviser I've spoke to was very complimentary towards my goals of Fire but he was seeing me as a friend and didn't charge for the session.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #940 on: July 11, 2017, 08:53:42 AM »
A co-worker recently announced that he is retiring. He is *maybe* 48. We got to talking, and he told me that when he turned 40 he told his financial advisor that he'd like to retire by 50. The planner told him that he probably could do it sooner than that. So he did.

That must have been some good financial advisor. As I sometimes hear people on this site who have talked to advisors who don't understand the concept of badass saving.

From talking to him, it sounds like he already was well on his way there at 40.

True, but I get the feeling that I could have $2M and be spending less than $25k annually and financial advisers would still tell me to keep working until I'm 65 or have $10M or some insane figure. I could be wrong, the one financial adviser I've spoke to was very complimentary towards my goals of Fire but he was seeing me as a friend and didn't charge for the session.

That may be true. I have never had any dealings with a financial advisor, so wouldn't really know one way or the other.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #941 on: July 12, 2017, 08:39:28 AM »
Long time lurker, first time poster.

My Chemical Engineering department hosts an annual symposium meant for connecting students to industry and academic contacts in a specific industry. The panel gets a question every year about the advice they would give to engineers just starting out. There is always the run-of-the-mill professional advice. This year, one of the panelists changed it up, and said, "Don't out-spend what you earn as a chemical engineering. You'll suddenly qualify for loans to buy a $300k home, and a $60k car. But that's outspending what you earn. Live on one income if you're partnered. For single folks, try living on half your income, though that is a little more difficult."

It sparked a great discussion at my table where the Dean of the College was sitting with us. The dean followed up that advice with part of the reason: "You might need to walk away from the job one day: ethical, professional, or familial reasons. Don't get stuck in financial handcuffs."

I was pleasantly surprised to receive some practical advice.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #942 on: July 12, 2017, 08:54:07 AM »
Last year's summer intern is now this year's new team member. Yesterday she proudly showed me her lunchbox and asked me how to take advantage of the tax-free, company-subsidized public transit program. She's also carless and living with two roommates. This one has promise!
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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #943 on: July 12, 2017, 09:30:13 AM »
One of my colleagues used to drive a really old car with 300K kms on the meter. His wife hates going on vacation with that car, because it has broken downa couple of time before, on a vacation. This year they discussed renting a car for the vacation. He ended up buying a new Volvo of the most expensive model. In Norway it costs more than a million Norwegian crowns, which is a lot of dollars (>110K).

Maybe if he keeps driving it forever, like his previous car, it might be a good deal eventually...?

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #944 on: July 12, 2017, 10:05:29 AM »
Today is the day after Amazon "prime day." Everyone is bragging about how much money they spent on "deals" they didn't need or plan on buying. Many of the same people I've heard complaining about tight finances are boasting about the biggest deals, coincidence?

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #945 on: July 12, 2017, 10:29:58 AM »
Today is the day after Amazon "prime day." Everyone is bragging about how much money they spent on "deals" they didn't need or plan on buying. Many of the same people I've heard complaining about tight finances are boasting about the biggest deals, coincidence?
I have to remind my girlfriend of this often. Just because you "saved" an arbitrary amount doesn't negate the fact that you spent a very real amount on something you may or may not actually need.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #946 on: July 12, 2017, 12:09:37 PM »
The last few posters might want to head over to the "Overheard at Work" thread... this is the confusingly named anti-anti-mustachian thread, where the negatives cancel each other out. We're supposed to share mustachian work stories here! :-)
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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #947 on: July 12, 2017, 07:42:10 PM »
Had a conversation with a co-worker today.  He knows I pay attention to finances and retirement.  I and a fellow co-worker convinced him to max out our 401k sometime in the last 4 years and to invest it in a target date retirement fund (he wouldn't be comfortable being more aggressive).  He felt the family budget now left them more money and was wondering what to do next.  I asked about a Roth and a Spousal Roth.  He was going to look into opening those soon.  This is on top of him having a son with special needs that easily could justify "we can't afford to save."

I married a woman with a child who has special needs.   It became one of my missions in life to make damn sure we had something to save.  A substantial something to save.

There were a lot of things in life I would have preferred doing to working so damn hard to make that happen.

I guess it's about priorities.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #948 on: July 19, 2017, 12:22:17 PM »
Our new employee visited Wisconsin over the weekend. While she was there, she picked up a case of beer (~$30) that you can apparently only get in Wisconsin. She was on public transit, carrying the case home, when somebody offered her $100 for the case because he really liked the beer and didn't want to go to Wisconsin. Tidy $70 profit for her!
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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #949 on: July 19, 2017, 12:38:24 PM »
Our new employee visited Wisconsin over the weekend. While she was there, she picked up a case of beer (~$30) that you can apparently only get in Wisconsin. She was on public transit, carrying the case home, when somebody offered her $100 for the case because he really liked the beer and didn't want to go to Wisconsin. Tidy $70 profit for her!

That'll be New Glarus, probably Spotted Cow. Good beer for sure--maybe even my favorite beer--but the prices are insane. I usually have one or two while out at a bar when I'm in Wisconsin.