Author Topic: Overheard at Work  (Read 8458688 times)

kayvent

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Re: Overheard at Work
« Reply #14300 on: August 03, 2016, 07:03:08 PM »

CW: Yeah, I see a lot of retired people in my neighborhood & I don't want that.
Me: (boggling) REALLY?!?!?!

His/he response isn't completely unreasonable. I too have seen many retired people that don't seem to do much and that kind of life doesn't appeal to me. Thankfully I know that those are only some people, many more live much more filling lives upon retirement. Another way I look at it is that after I stop earning money (so technically retired) I plan on keeping my self active. Current plan is to move to South America to become fluent in Spanish and from there I'm may move then to India to become fluent in Hindi.

Think of it this way: other people's choice to stay employed actually makes FIRE easier for us. We're hacking the system, which, to a degree, depends on the majority of participants not hacking the system.
Or just look at it as supply and demand... the less people want FIRE, the cheaper it is for those who do ;)

I am hesitant to conclude on whether it does or does not help. I'll give a toy example on how it may not help you. Say you want to buy a home in your 20's because you know that one way to become FIRE'd early is to reduce your housing expense drastically. If everyone around you is willing to put 0% down on a property and engage in bidding wars, you need a larger downpayment and the people you are buying from are less flexible in price since they paid 0% down ten years ago on a thirty-year mortgage (i.e. the bulk of the principal is outstanding, about 97% if they had a 5% mortgage).
« Last Edit: August 03, 2016, 07:05:10 PM by kayvent »

arebelspy

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Re: Overheard at Work
« Reply #14301 on: August 03, 2016, 07:23:55 PM »

CW: Yeah, I see a lot of retired people in my neighborhood & I don't want that.
Me: (boggling) REALLY?!?!?!

His/he response isn't completely unreasonable. I too have seen many retired people that don't seem to do much and that kind of life doesn't appeal to me. Thankfully I know that those are only some people, many more live much more filling lives upon retirement. Another way I look at it is that after I stop earning money (so technically retired) I plan on keeping my self active. Current plan is to move to South America to become fluent in Spanish and from there I'm may move then to India to become fluent in Hindi.

Think of it this way: other people's choice to stay employed actually makes FIRE easier for us. We're hacking the system, which, to a degree, depends on the majority of participants not hacking the system.
Or just look at it as supply and demand... the less people want FIRE, the cheaper it is for those who do ;)

I am hesitant to conclude on whether it does or does not help. I'll give a toy example on how it may not help you. Say you want to buy a home in your 20's because you know that one way to become FIRE'd early is to reduce your housing expense drastically. If everyone around you is willing to put 0% down on a property and engage in bidding wars, you need a larger downpayment and the people you are buying from are less flexible in price since they paid 0% down ten years ago on a thirty-year mortgage (i.e. the bulk of the principal is outstanding, about 97% if they had a 5% mortgage).

The math at the end (bolded) is not correct--they should have paid about 19% of principal down on a fully amortizing, 30 year loan @ 5% after 10 years, and have 81% remaining (even though the term is 33% over, only 2/3rd left, because of how amortizing loans work).

That aside, your basic point is correct on the whole market rising, in general.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
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mustachepungoeshere

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Re: Overheard at Work
« Reply #14302 on: August 03, 2016, 11:49:27 PM »
She would have to be blind and anosmic to not notice.

I think this is a real disconnect for a lot of smokers.  They are so accustomed to the smell that they literally don't notice it.

My husband's colleague smokes and uses a 'natural' deodorant.

The former means he doesn't notice the latter isn't working.

mustachepungoeshere

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Re: Overheard at Work
« Reply #14303 on: August 04, 2016, 02:17:21 AM »
A colleague just realised she came to work in mismatched shoes (two different black heels) so she immediately walked out to buy a new pair.

I'm not sure anyone else would have realised, given that it's 11am and she only just noticed...

Less than a month and another woman I know, this time a relative, did this today. She texted me a photo of as proof.

This time it was two different boots.

The forum member who helped me move house last weekend might say otherwise, but I just don't have enough shoes to make that kind of mistake.

Goldielocks

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Re: Overheard at Work
« Reply #14304 on: August 04, 2016, 11:43:56 AM »
A colleague just realised she came to work in mismatched shoes (two different black heels) so she immediately walked out to buy a new pair.

I'm not sure anyone else would have realised, given that it's 11am and she only just noticed...

Less than a month and another woman I know, this time a relative, did this today. She texted me a photo of as proof.

This time it was two different boots.

The forum member who helped me move house last weekend might say otherwise, but I just don't have enough shoes to make that kind of mistake.
My dad was up for a promotion / job change in the 70's, to a flight instructor / auditor postion.  The new boss was someone with an impeccable uniform every day.

Well, he dressed in the dark and showed up with one black and one navy shoe.   Crazy thing is that he only owned two pairs of work dress shoes, but because of the uniform, they were the same make / brand , just different colours and he dressed in the dark at 5am so as not to wake my mom. 

He did not notice until after the interview, and did not get the job.

Chris22

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Re: Overheard at Work
« Reply #14305 on: August 04, 2016, 11:49:53 AM »
A colleague just realised she came to work in mismatched shoes (two different black heels) so she immediately walked out to buy a new pair.

I'm not sure anyone else would have realised, given that it's 11am and she only just noticed...

Less than a month and another woman I know, this time a relative, did this today. She texted me a photo of as proof.

This time it was two different boots.

The forum member who helped me move house last weekend might say otherwise, but I just don't have enough shoes to make that kind of mistake.
My dad was up for a promotion / job change in the 70's, to a flight instructor / auditor postion.  The new boss was someone with an impeccable uniform every day.

Well, he dressed in the dark and showed up with one black and one navy shoe.   Crazy thing is that he only owned two pairs of work dress shoes, but because of the uniform, they were the same make / brand , just different colours and he dressed in the dark at 5am so as not to wake my mom. 

He did not notice until after the interview, and did not get the job.

I also have two pair of work shoes, one black, one dark brown, and yeah, they're all but identical (AE Park Avenue and Fifth Avenue) so if you try to get dressed in the dark it's easy to end up with a mismatched pair or the wrong pair from what you intended to wear.

GuitarStv

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Re: Overheard at Work
« Reply #14306 on: August 04, 2016, 11:58:58 AM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

johnny847

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Re: Overheard at Work
« Reply #14307 on: August 04, 2016, 12:03:10 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

Dude, logic isn't welcome here!

onlykelsey

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Re: Overheard at Work
« Reply #14308 on: August 04, 2016, 12:08:32 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

For me it's work shoes under my desk.  I will not voluntarily wear heels all day, so I kick them off and then step back in to them blindly when someone surprises me or I need to use the restroom.  If I find two that are different heights, I figure it out.  If they're the same, though, I will definitely find myself in the restroom staring at one red and one black heel.  Whoops :)

Chris22

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Re: Overheard at Work
« Reply #14309 on: August 04, 2016, 12:13:10 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

Sure, but it's in my closet where half of my and my wife's clothes hang down partially covering them, AND I generally get dressed in the near-dark so as to not disturb my wife, so it's entirely possible to grab the middle two shoes and not realize.  I actually don't think I've worn 1 each ever, but I have worn black when I meant to wear brown and vice versa.

dragoncar

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Re: Overheard at Work
« Reply #14310 on: August 04, 2016, 12:28:05 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

No, what is this some conformist bullshit? Each of my shoes are individuals, enhanced but not defined by their partners.  I like to remind them that they are strong, unique, beautiful shoes by placing them throughout the house in a variety of relaxing positions

Making Cookies

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Re: Overheard at Work
« Reply #14311 on: August 04, 2016, 12:31:15 PM »
In other words you like to solve mysteries... ;)

frugalnacho

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Re: Overheard at Work
« Reply #14312 on: August 04, 2016, 12:31:49 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

A little presumptuous to assume we all have 2 feet.

AlwaysLearningToSave

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Re: Overheard at Work
« Reply #14313 on: August 04, 2016, 12:34:28 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

No, what is this some conformist bullshit? Each of my shoes are individuals, enhanced but not defined by their partners.  I like to remind them that they are strong, unique, beautiful shoes by placing them throughout the house in a variety of relaxing positions

I'm going to use this line the next time my wife complains about me leaving my shoes strewn about.  Maybe she will understand this time...

mtn

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Re: Overheard at Work
« Reply #14314 on: August 04, 2016, 01:00:34 PM »


Despite having multiples of different shoes in different colors (2 Allen Edmonds loafers--Black and Brown--2 Ecco "dress" shoes that are identical, Black and brown, 2 Allen Edmonds cap-toes, Oxblood and Brown), I've never made the mistake of two different pairs. But all this talk is getting me excited about the closet I'm eventually planning on building in our new house. There will be shoe racks everywhere! Everywhere I tell you! (I think I have more shoes than my wife)


GuitarStv

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Re: Overheard at Work
« Reply #14315 on: August 04, 2016, 01:04:17 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

A little presumptuous to assume we all have 2 feet.

If you happen to have some sort of well-endowed tri-pod situation going on, I don't think anyone gives a shit about the colour of shoes you're wearing.

zephyr911

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Re: Overheard at Work
« Reply #14316 on: August 04, 2016, 01:30:14 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

Dude, logic isn't welcome here!
Here's some logic: if your shoes are so much alike that two members of two different pairs feel the same, you're doing your feet a disservice. Wearing the same shoes all the time is bad for your feet. Wearing shoes that feel exactly the same can't be much better.

PencilThinStash

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Re: Overheard at Work
« Reply #14317 on: August 04, 2016, 01:52:54 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

A little presumptuous to assume we all have 2 feet.

#ProstheticFeetMatter

Chris22

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Re: Overheard at Work
« Reply #14318 on: August 04, 2016, 02:01:11 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

Dude, logic isn't welcome here!
Here's some logic: if your shoes are so much alike that two members of two different pairs feel the same, you're doing your feet a disservice. Wearing the same shoes all the time is bad for your feet. Wearing shoes that feel exactly the same can't be much better.

Really?  huh, never heard that.  Well, the two shoes I wear for the most time I spend 90%+ of my time sitting in various office chairs while I wear them, so I can't imagine my feet care that much.  OTOH, I wear a variety of footwear when out walking around, running shoes or various flip flops in the summer, boots in the winter, can't imagine any of those (running shoes aside) are BETTER for my feet.  I don't think my feet like my old Sanuks that much.

Zaga

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Re: Overheard at Work
« Reply #14319 on: August 04, 2016, 06:54:07 PM »
I've never worn 2 different shoes, but one day I did spend all day at work in my slippers.  Yes, somehow I managed to drive all the way to work without realizing that I was wearing slippers, sigh. 

I would not have cared so much, but they did NOT match my outfit!  My clothes are all based on black/grey, and my slippers are tan with a pink bow.

Goldielocks

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Re: Overheard at Work
« Reply #14320 on: August 04, 2016, 11:58:39 PM »
I've never worn 2 different shoes, but one day I did spend all day at work in my slippers.  Yes, somehow I managed to drive all the way to work without realizing that I was wearing slippers, sigh. 

I would not have cared so much, but they did NOT match my outfit!  My clothes are all based on black/grey, and my slippers are tan with a pink bow.

Reminds me of a woman on a bus in the 80s who forgot to put on her skirt.  Wearing a slip and her overcoat over it only.  Remember when we used to wear slips, and put on the good work clothes after we were done with makeup, hair and eating breakfast?

Anyway,  I later saw the same meme on a movie, but it was funnier in person.

Squirrel away

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Re: Overheard at Work
« Reply #14321 on: August 05, 2016, 01:21:21 AM »
I've walked out of the house wearing my slippers a few times.

mustachepungoeshere

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Re: Overheard at Work
« Reply #14322 on: August 05, 2016, 02:35:03 AM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

Have you seen the anti-folding clothes thread?

ಠ_ಠ

mustachepungoeshere

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Re: Overheard at Work
« Reply #14323 on: August 05, 2016, 02:38:33 AM »
I've never worn 2 different shoes, but one day I did spend all day at work in my slippers.  Yes, somehow I managed to drive all the way to work without realizing that I was wearing slippers, sigh. 

I would not have cared so much, but they did NOT match my outfit!  My clothes are all based on black/grey, and my slippers are tan with a pink bow.

You need office slippers!

After getting my feet and cute flats drenched on particularly wet days, I bought a pair of black slippers to keep at work. I try to wear boots when rain is forecast, but when I get it wrong, I'm not staying in wet shoes all day for anyone.

gooki

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Re: Overheard at Work
« Reply #14324 on: August 05, 2016, 02:52:01 AM »
What's wrong with bare footing it around the office?

plainjane

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Re: Overheard at Work
« Reply #14325 on: August 05, 2016, 04:33:39 AM »
Yesterday I didn't realize until 3pm that I was wearing my shirt backwards.  And then I needed to go to a client meeting, so I wore it backwards there too.

Rural

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Re: Overheard at Work
« Reply #14326 on: August 05, 2016, 04:44:09 AM »
What's wrong with bare footing it around the office?


I do this a fair bit, especially when I'm working at my standing desk because I usually slip off shoes to stand on my anti fatigue mat. Often I'll run down the hall in socks then (not barefoot because sometimes staples in the carpet). But I won't go into the bathroom without shoes (gross), and as I'm a woman of a certain age, this means putting on shoes every hour and a half or so,

mustachepungoeshere

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Re: Overheard at Work
« Reply #14327 on: August 05, 2016, 05:32:09 AM »
What's wrong with bare footing it around the office?

I do in summer.

Not in winter. Cold feet.

gggggg

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Re: Overheard at Work
« Reply #14328 on: August 05, 2016, 05:41:49 AM »
Coworker and friend who is in debt to his eyeballs told me this week he wants to buy the empty house next to his and rent it, he also has been looking at brand new 40k+ sports cars. I tried to warn him (with minimal nagging)...This same friend eats out AT LEAST twice a day and drives long distances to work in his gas guzzler full size V8 pickup. He recently bought his 16 year old daughter (who doesn't work) a brand new vehicle. A couple of times a year he'll realize that he's in over his head with bills, and work crazy hours at our job to cover the debt. I try to set an example, and talk to the coworkers here and there about personal finance, but what can you do in the end, ugh.

kayvent

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Re: Overheard at Work
« Reply #14329 on: August 05, 2016, 05:53:42 AM »

CW: Yeah, I see a lot of retired people in my neighborhood & I don't want that.
Me: (boggling) REALLY?!?!?!

His/he response isn't completely unreasonable. I too have seen many retired people that don't seem to do much and that kind of life doesn't appeal to me. Thankfully I know that those are only some people, many more live much more filling lives upon retirement. Another way I look at it is that after I stop earning money (so technically retired) I plan on keeping my self active. Current plan is to move to South America to become fluent in Spanish and from there I'm may move then to India to become fluent in Hindi.

Think of it this way: other people's choice to stay employed actually makes FIRE easier for us. We're hacking the system, which, to a degree, depends on the majority of participants not hacking the system.
Or just look at it as supply and demand... the less people want FIRE, the cheaper it is for those who do ;)

I am hesitant to conclude on whether it does or does not help. I'll give a toy example on how it may not help you. Say you want to buy a home in your 20's because you know that one way to become FIRE'd early is to reduce your housing expense drastically. If everyone around you is willing to put 0% down on a property and engage in bidding wars, you need a larger downpayment and the people you are buying from are less flexible in price since they paid 0% down ten years ago on a thirty-year mortgage (i.e. the bulk of the principal is outstanding, about 97% if they had a 5% mortgage).

The math at the end (bolded) is not correct--they should have paid about 19% of principal down on a fully amortizing, 30 year loan @ 5% after 10 years, and have 81% remaining (even though the term is 33% over, only 2/3rd left, because of how amortizing loans work).

That aside, your basic point is correct on the whole market rising, in general.

Thanks for the correction. I felt tired while writing so instead of calculating it by hand I used a mortgage calculator from a large Canadian bank to come to that 97% number. A mistake must have been made by me. Perhaps I input a number wrong or read the output wrong.
« Last Edit: August 05, 2016, 06:00:14 AM by kayvent »

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Re: Overheard at Work
« Reply #14330 on: August 05, 2016, 07:21:59 AM »
Yesterday I didn't realize until 3pm that I was wearing my shirt backwards.  And then I needed to go to a client meeting, so I wore it backwards there too.

I've managed to make it an hour or mor at work without realizing my shirt was inside out. This is a casual place most of time. Nobody noticed. Whew! (or nobody told me they noticed)

mm1970

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Re: Overheard at Work
« Reply #14331 on: August 05, 2016, 11:16:07 AM »
Yesterday I didn't realize until 3pm that I was wearing my shirt backwards.  And then I needed to go to a client meeting, so I wore it backwards there too.

I've managed to make it an hour or mor at work without realizing my shirt was inside out. This is a casual place most of time. Nobody noticed. Whew! (or nobody told me they noticed)
Two days ago I made it from 7:30 am to 1 pm before I noticed my shirt was inside out.  And none of my male coworkers noticed either.

KodeBlue

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Re: Overheard at Work
« Reply #14332 on: August 05, 2016, 11:18:00 AM »
the joy of wearing scrub suits. Never inside out, always match.

kayvent

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Re: Overheard at Work
« Reply #14333 on: August 05, 2016, 03:10:33 PM »
Near the end of the workday on a Friday we're talking openly across the office. Boss is telling us that since his wife is expecting their fourth child, they have a new vehicle. And here is where our story unfolds.

Boss: The <Major Maxivan Brand Name> drives quite nicely. I now have three vehicles now. The Civic is the one we'll be getting rid off.
CW: Wait! What did you just say?
Boss: I'm going to sell the Civic.
CW: A Civic?
Boss: Yes???
CW: CW2 the entirety of two weeks ago was enthralled in the process of finding and buying a used Civic. And you had one all along!?

In Boss's defence, he has a private office and didn't hear any of CW2's quest the other week. Hilarious nonetheless.

hollow

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Re: Overheard at Work
« Reply #14334 on: August 05, 2016, 04:51:19 PM »
I was listening to a webinar on Thrift Savings Plan (similar 401k) loans and withdrawals.  I was hoping they would talk about how they hope to expand the limited withdrawal options for TSP. They did not.

CW: Let's say I take a loan, retire, and can't pay it back within the 90-day window.  Can I make a new payment plan?

Why on earth would you retire if you're in such dire financial straits?

The answer is no you can't. It becomes a taxable distribution after 90 days. So you'd have to pay taxes with money you (apparently) don't have.

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Re: Overheard at Work
« Reply #14335 on: August 06, 2016, 10:28:57 AM »
Yesterday I didn't realize until 3pm that I was wearing my shirt backwards.  And then I needed to go to a client meeting, so I wore it backwards there too.

I've managed to make it an hour or mor at work without realizing my shirt was inside out. This is a casual place most of time. Nobody noticed. Whew! (or nobody told me they noticed)
Two days ago I made it from 7:30 am to 1 pm before I noticed my shirt was inside out.  And none of my male coworkers noticed either.

There was a brief period during my high school years when shirts with exposed seams were fashionable for teenage girls.  I had a very difficult time telling whether the shirts were inside out or not.

Primm

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Re: Overheard at Work
« Reply #14336 on: August 06, 2016, 10:44:25 PM »
WTF.  Do you guys not arrange your shoes in pairs, one next to the other?

A little presumptuous to assume we all have 2 feet.

True story: as a wet-behind-the-ears student nurse many years ago I spent about 15 minutes hunting for the 2nd slipper of a patient so she could go for a walk, while she and her below-knee-amputated left leg chuckled at me from in the bed.

TomTX

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Re: Overheard at Work
« Reply #14337 on: August 07, 2016, 11:28:59 AM »
Here's one from my old job:

Coworker:   Do you think $50 is too much to pay for a t-shirt?
Me:  Um, probably.   Who's it for?
Her:   My ten-year-old niece.
Me:  Yikes!   Is the shirt really cool-looking?
Her:  Not really - it's plain white.
Me:   In that case, yes, $50 is way too much.
Her:  But it's from The Gap!
Me:   I still think that's a really expensive shirt for a ten-year-old.
Her:   (Flouncing away) Ohhh, what do YOU know?

www.jiffyshirts.com

I think I got this from the forums here, years ago.  It's my go-to place for my boys (husband and boys 10 and 4)

How good are the quality for men's undershirts (both black and white one)? I've been meaning to get some black undershirts but haven't pulled the trigger and some (translation, nearly all) of my white undershirts are starting to show wear and tear.
Hm. I don't know.  Thus far I've purchased the Gildan cotton shirts for my husband and boys.  I have purchased the solid colors for outerwear, not the undershirts.  And they fit just fine.  But we aren't looking for fitted, we are looking for just regular shirts.  My husband is tall, (and long waisted), and the XL's are fine as long as he doesn't put them in the dryer.  (Or they will shrink to be too short).

We got a bunch of Gildan shirts for my wife for $2 each (new) on clearance. Thin, but they have been durable - and they dry quickly.

I recently splurged and got myself 2 high tech moisture wicking tshirts in really pretty colors for a bit under $4 each (after coupon.)

Greenway52

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Re: Overheard at Work
« Reply #14338 on: August 07, 2016, 02:04:24 PM »

I also have two pair of work shoes, one black, one dark brown, and yeah, they're all but identical (AE Park Avenue and Fifth Avenue) so if you try to get dressed in the dark it's easy to end up with a mismatched pair or the wrong pair from what you intended to wear.

See, this is exactly why you should only have one pair of shoes. Mo shoes mo problems!

Greenway52

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Re: Overheard at Work
« Reply #14339 on: August 07, 2016, 02:21:33 PM »
Not exactly on topic of overheard at work, but still hilarious nonetheless (and I couldn't find another topic to fit this in), I was called by CIBC (my bank), offering me Imperial Service. I didn't apply to it, but apparently it's a service where they assign to me a Financial Advisor supposedly to help me prepare for my financial goals (but in reality, it's more to sell me CIBC products).

Even though I don't really want it, I'm terrible at saying "No" and since its a free service anyways, I just went ahead with our introductory phone call. We were discussing retirement when he said "With my help you can retire comfortably by 65. And some people want to retire early - even as early as 55 or 60!".

Good thing I was on the phone and not meeting him in person, as I couldn't stop laughing.

I didn't tell him my FIRE plans (plus I'm much more interested in FI than RE anyways). But the crazy thing is he knew my income (since my pay deposits to the bank), he knew my spending was about $700/month, and he knew I was investing like crazy. But still earliest I could retire (with his help too, mind you!) was at 55!

kayvent

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Re: Overheard at Work
« Reply #14340 on: August 07, 2016, 03:50:20 PM »
Not exactly on topic of overheard at work, but still hilarious nonetheless (and I couldn't find another topic to fit this in), I was called by CIBC (my bank), offering me Imperial Service. I didn't apply to it, but apparently it's a service where they assign to me a Financial Advisor supposedly to help me prepare for my financial goals (but in reality, it's more to sell me CIBC products).

Even though I don't really want it, I'm terrible at saying "No" and since its a free service anyways, I just went ahead with our introductory phone call. We were discussing retirement when he said "With my help you can retire comfortably by 65. And some people want to retire early - even as early as 55 or 60!".

Good thing I was on the phone and not meeting him in person, as I couldn't stop laughing.

I didn't tell him my FIRE plans (plus I'm much more interested in FI than RE anyways). But the crazy thing is he knew my income (since my pay deposits to the bank), he knew my spending was about $700/month, and he knew I was investing like crazy. But still earliest I could retire (with his help too, mind you!) was at 55!

I'm putting 40% on him reading from a script, 40% thinking you are only saving to spend it (ex. house, boat, etc...), 19% that he is just wasting time talking to you since he gets paid regardless, and 1% that he was trolling you.

FireZoneBlitz

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Re: Overheard at Work
« Reply #14341 on: August 07, 2016, 09:48:57 PM »
I received a promotion at work about a year ago. This year two of the people I manage bought new cars and both spent around 60-70k.

One of my other employees: wow did you see the new cars?

Me: Yes they are really nice.

Emp: So are you going to get a REALLY nice new car now?

Me: Why?  My Honda is 6 years old and only has 84k miles..

Emp:  Well you must be making more than them so you should be able to afford it

I just changed the subject.

Making Cookies

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Re: Overheard at Work
« Reply #14342 on: August 08, 2016, 08:31:23 AM »
"You've had your car a long time. How many miles on it?"

300K

"Wow. Are you going to replace it soon?"

Nope.

"What are you going to do if it breaks? Its inevitable."

We'll fix it.

"???"

(of course we'll fix it unless the cost of repairs are ridiculous. I do my own wrenching most of the time. I don't worry about Blue Book value. I look at how long I can avoid a car payment within reason. A new car payment might be $400/month. So if I had to spend $500 on it - and it'll last several more years then I'm way ahead.

Other folks I've known use a different yard stick. The car is worth $1500 and the repair is $500 - ditch it and buy something new/newer.

MgoSam

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Re: Overheard at Work
« Reply #14343 on: August 08, 2016, 01:09:20 PM »

Other folks I've known use a different yard stick. The car is worth $1500 and the repair is $500 - ditch it and buy something new/newer.

Yeah, I still don't understand that type of reasoning. It's one thing if you can buy a perfectly acceptable car for $1500, then it might be worthwhile, but otherwise I know my car and if it will be driveable for a while with a $500 repair, then I'm going to repair it.

Kitsune

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Re: Overheard at Work
« Reply #14344 on: August 08, 2016, 01:36:34 PM »

Other folks I've known use a different yard stick. The car is worth $1500 and the repair is $500 - ditch it and buy something new/newer.

Yeah, I still don't understand that type of reasoning. It's one thing if you can buy a perfectly acceptable car for $1500, then it might be worthwhile, but otherwise I know my car and if it will be driveable for a while with a $500 repair, then I'm going to repair it.

Yeah, this. After 100k km, we've just had to make the first repairs on our Honda Fit (changing the break pads and an issue with the transmission) - cost 1k, and we're good to go for at least another year of uber-reliable gas-efficient car.

My colleagues are all "omg, repairs, time to get a new car!!" Like, whut. What I just put in this car would be equal to 2 months of their car payments. I'll make the repairs and then pocket the extra 10 months worth of car payments, yeah?

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Re: Overheard at Work
« Reply #14345 on: August 08, 2016, 01:41:44 PM »
Not exactly on topic of overheard at work, but still hilarious nonetheless (and I couldn't find another topic to fit this in), I was called by CIBC (my bank), offering me Imperial Service. I didn't apply to it, but apparently it's a service where they assign to me a Financial Advisor supposedly to help me prepare for my financial goals (but in reality, it's more to sell me CIBC products).

Even though I don't really want it, I'm terrible at saying "No" and since its a free service anyways, I just went ahead with our introductory phone call. We were discussing retirement when he said "With my help you can retire comfortably by 65. And some people want to retire early - even as early as 55 or 60!".

Good thing I was on the phone and not meeting him in person, as I couldn't stop laughing.

I didn't tell him my FIRE plans (plus I'm much more interested in FI than RE anyways). But the crazy thing is he knew my income (since my pay deposits to the bank), he knew my spending was about $700/month, and he knew I was investing like crazy. But still earliest I could retire (with his help too, mind you!) was at 55!

I'm putting 40% on him reading from a script, 40% thinking you are only saving to spend it (ex. house, boat, etc...), 19% that he is just wasting time talking to you since he gets paid regardless, and 1% that he was trolling you.

98% that he doesn't know or have access to your income and spending patterns beyond what you told him in the call.  Not like everyone who works at the bank can pull up anyone's account and just peruse. 

mm1970

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Re: Overheard at Work
« Reply #14346 on: August 08, 2016, 04:57:00 PM »

Other folks I've known use a different yard stick. The car is worth $1500 and the repair is $500 - ditch it and buy something new/newer.

Yeah, I still don't understand that type of reasoning. It's one thing if you can buy a perfectly acceptable car for $1500, then it might be worthwhile, but otherwise I know my car and if it will be driveable for a while with a $500 repair, then I'm going to repair it.

Yeah, this. After 100k km, we've just had to make the first repairs on our Honda Fit (changing the break pads and an issue with the transmission) - cost 1k, and we're good to go for at least another year of uber-reliable gas-efficient car.

My colleagues are all "omg, repairs, time to get a new car!!" Like, whut. What I just put in this car would be equal to 2 months of their car payments. I'll make the repairs and then pocket the extra 10 months worth of car payments, yeah?
For the second time, a coworker noticed (and laughed at) my hubcaps. 

I've got a 10 year old car, we've lost some hubcaps.  We've replaced all 4 with cheapos.  Well, a month ago spouse was driving it and heard a funny noise.  One fell off, somewhere on the highway. Looks and realizes that there are two missing.

Can't find replacements that are the same (at this point, we've gone through 6 already...the original 4, and two of the second set).

Only finds one set in a store locally that is cheap and the right size.  So he moves the old two to the passenger side and the new two to the driver's side, and keeps the spares in the shed.

Coworker "WTF is up with your wheels?"  I give him the saga.  "Why don't you put the matching set on??"  Um, cuz I don't care?

arebelspy

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Re: Overheard at Work
« Reply #14347 on: August 08, 2016, 05:08:05 PM »
What do you even need them for in the first place?
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
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Greenway52

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Re: Overheard at Work
« Reply #14348 on: August 08, 2016, 05:32:53 PM »
Not exactly on topic of overheard at work, but still hilarious nonetheless (and I couldn't find another topic to fit this in), I was called by CIBC (my bank), offering me Imperial Service. I didn't apply to it, but apparently it's a service where they assign to me a Financial Advisor supposedly to help me prepare for my financial goals (but in reality, it's more to sell me CIBC products).

Even though I don't really want it, I'm terrible at saying "No" and since its a free service anyways, I just went ahead with our introductory phone call. We were discussing retirement when he said "With my help you can retire comfortably by 65. And some people want to retire early - even as early as 55 or 60!".

Good thing I was on the phone and not meeting him in person, as I couldn't stop laughing.

I didn't tell him my FIRE plans (plus I'm much more interested in FI than RE anyways). But the crazy thing is he knew my income (since my pay deposits to the bank), he knew my spending was about $700/month, and he knew I was investing like crazy. But still earliest I could retire (with his help too, mind you!) was at 55!

I'm putting 40% on him reading from a script, 40% thinking you are only saving to spend it (ex. house, boat, etc...), 19% that he is just wasting time talking to you since he gets paid regardless, and 1% that he was trolling you.

98% that he doesn't know or have access to your income and spending patterns beyond what you told him in the call.  Not like everyone who works at the bank can pull up anyone's account and just peruse.

@kayvent: Yeah, I think you're right about the percentages. I'm hoping the 1% trolling is the case, but I doubt it.

@Chris22: Oh, he knew how much I make. He even referenced the company I work for. And when I asked how he knew the company, he said that he can see the transactions on my account. I get paid bi-weekly. So when he sees that on a bi-weekly basis the same company deposits the same amount into my account, it's pretty easy to assume that's the company I work for. If he can see the money coming in, he can see the money going out. But somehow he couldn't put two and two together and figure out I don't need to wait until 55 to retire. Or like kayvent said, he probably thinks I'm just saving up to buy something.


Greenway52

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Re: Overheard at Work
« Reply #14349 on: August 08, 2016, 05:47:55 PM »
What do you even need them for in the first place?

I don't need him. But he called me while I was at work. Initially I wanted to refuse, but just to end the conversation quicker so that I can get back to work, I agreed to the half an hour phone call later. It's free so there's no harm. I'm kind of glad that I had the call with him though ... not because I learned anything, but because of all the funny moments during that call. Besides the retirement issue I mentioned before, we also talked about investments. The conversation went something like this:

Financial Advisor: So how much do you currently pay in fees for your index funds?
Me: The MER of my index fund is 0.05%
Financial Advisor & Me: [laughs awkwardly]
Me [thinking to myself]: Yeah, you're not going to get a better deal for me than that.

As a side note, the ultra low cost ETFs are relatively new in Canada, unlike in the States. Until Vanguard came to Canada, BlackRock for instance was charging about 0.15% for it's MER on broad market ETFs. So a lot of Canadian FAs aren't used to hearing about MERs of 0.05%.