Author Topic: Overheard at Work  (Read 13253228 times)

eyePod

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Re: Overheard at Work
« Reply #4600 on: October 10, 2014, 04:35:55 AM »
This last year I had my companies primium health insurance because it made financial sense (we only paid a total of $400 for the birth, pregnancy, etc.). Because I am on a rotational program for work, I had the opprotunity to change insurance carriers. I decided to go with the high deductible plan. It has $5,000 deductible and the company puts $2,000 into a HSA. I have a small copay for vision and dental, and a good price for about $2800 a year (I think this is a fantastic deal!).

Me: I would like to change over to the high deductible plan with the HSA
HR: Do know about the $5,000 deductible?
Me: Yes, it is a high deductible plan.
HR: This means you will have to pay for everything out of pocket.
Me: Only for any costs are between $3,000 and $5,000
HR: Well, yes... But what if you have a bad year? I never recommend this program to people. Who has $3,000 to pay for medical bills?
Me: The other plan was guarunteed to cost me an extra $2,000 per year. I think this plan is not very risky. Especially since the money will roll over every year. It is like freee money!
HR:But it is so risky! You could go bankrupt!
(She knows that I'm a new hire and probably have student loans, but in reality I already have saved nearly enough for a $20% down payment)
Me: I'll go with that high deductible plan.
HR: Don't say I didn't warn you!

Its amazing that people can only look at the deductible instead of the monthly payments. Granted, when my old work transitioned from a copay insurance plan to one with a higher our of pocket plan, I felt bad for the lady who slipped and fell on January 17th...
« Last Edit: October 10, 2014, 09:27:03 AM by eyePod »

Rural

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Re: Overheard at Work
« Reply #4601 on: October 10, 2014, 05:06:15 AM »
This last year I had my companies primium health insurance because it made financial sense (we only paid a total of $400 for the birth, pregnancy, etc.). Because I am on a rotational program for work, I had the opprotunity to change insurance carriers. I decided to go with the high deductible plan. It has $5,000 deductible and the company puts $2,000 into a HSA. I have a small copay for vision and dental, and a good price for about $2800 a year (I think this is a fantastic deal!).

Me: I would like to change over to the high deductible plan with the HSA
HR: Do know about the $5,000 deductible?
Me: Yes, it is a high deductible plan.
HR: This means you will have to pay for everything out of pocket.
Me: Only for any costs are between $3,000 and $5,000
HR: Well, yes... But what if you have a bad year? I never recommend this program to people. Who has $3,000 to pay for medical bills?
Me: The other plan was guarunteed to cost me an extra $2,000 per year. I think this plan is not very risky. Especially since the money will roll over every year. It is like freee money!
HR:But it is so risky! You could go bankrupt!
(She knows that I'm a new hire and probably have student loans, but in reality I already have saved nearly enough for a $20% down payment)
Me: I'll go with that high deductible plan.
HR: Don't say I didn't warn you!

Its amazing that people can only look at the decutiblr instead of the monthly payments. Granted, when my old work transitioned from a copay insurance plan to one with a higher our of pocket plan, I felt bad for the lady who slipped and fell on January 17th...


Much worse if it had been December 17, because then she'll have some treatments in the new year and get to meet two years' deductibles. Guess how I know that (though it wasn't a fall).


Still the HDHP was by far the best deal for me, since meeting the deductible was less than just the premiums, not considering copays, on the other plan. Heck, the out of pocket max on the high deductible plan wasn't that much more than the premiums on the other. I just prefer to pay the low HDHP premiums and then have virtually no medical expenses.

Emilyngh

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Re: Overheard at Work
« Reply #4602 on: October 10, 2014, 06:41:32 AM »

Much worse if it had been December 17, because then she'll have some treatments in the new year and get to meet two years' deductibles. Guess how I know that (though it wasn't a fall).


Still the HDHP was by far the best deal for me, since meeting the deductible was less than just the premiums, not considering copays, on the other plan. Heck, the out of pocket max on the high deductible plan wasn't that much more than the premiums on the other. I just prefer to pay the low HDHP premiums and then have virtually no medical expenses.

Yeah, my employer is considering offering a HDP in the next year or so.   Colleagues are freakin out (who has thousands for a deductible?!?).   Nevermind the fact that they'll be saving the thousands a year that they currently always pay in premiums in exchange for the risk of meeting the deductible....I'm excited, but try to keep my mouth shut about it b/c others don't seem to understand and it's not worth their wrath. 

Le Barbu

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Re: Overheard at Work
« Reply #4603 on: October 10, 2014, 06:44:13 AM »
Overheard on train - 2 mid-40's guys:

Neil, haven't seen you for ages! What've you been up to?
Been busy actually. Just moved to xxxx (posh housing estate). Cracking plot but needs a lot of work done to it - reckon it'll be 100k to get it the way the missus wants it. What about you, moved yet?
Nope, still in the same house.
Never mind. I've just bought myself a Jag, well leased it. Dream house, dream car, I'm living the dream mate, living the dream! Are you still working at xx?
Yup, for another 2 weeks.
Oh, new job?
Nope, retiring. Living the dream mate, living the dream!

Cue snort from me, tried to disguise as cough. Thought I'd got away with it till retiree winked at me :)

Rest of conversation revolved around how retiree had lived within his needs not his means. Loved it!


Should have gone for a fist bump and said FIRE while blowing it up.

Oh man, we need a secret handshake!

I think we should just go for the index finger on the upper lip (Mustache style) ???

Pooperman

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Re: Overheard at Work
« Reply #4604 on: October 10, 2014, 07:02:29 AM »
Overheard on train - 2 mid-40's guys:

Neil, haven't seen you for ages! What've you been up to?
Been busy actually. Just moved to xxxx (posh housing estate). Cracking plot but needs a lot of work done to it - reckon it'll be 100k to get it the way the missus wants it. What about you, moved yet?
Nope, still in the same house.
Never mind. I've just bought myself a Jag, well leased it. Dream house, dream car, I'm living the dream mate, living the dream! Are you still working at xx?
Yup, for another 2 weeks.
Oh, new job?
Nope, retiring. Living the dream mate, living the dream!

Cue snort from me, tried to disguise as cough. Thought I'd got away with it till retiree winked at me :)

Rest of conversation revolved around how retiree had lived within his needs not his means. Loved it!


Should have gone for a fist bump and said FIRE while blowing it up.

Oh man, we need a secret handshake!

I think we should just go for the index finger on the upper lip (Mustache style) ???

+1

flamingo25

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Re: Overheard at Work
« Reply #4605 on: October 10, 2014, 08:35:52 AM »
Lurker coming out here:

At my previous job I was the youngest employee by at least 10 years or so. I often got condescending comments about how young and naive I am and how I just "don't get life." Very irritating.

I mostly keep to myself, but I did mention one time how we hope to pay off our home in the next 5-ish years, to which one coworker replied with how I'm young and once I'm older and have kids I'll "understand" that is not how the world works.

Said coworker has a 600k house, a vacation home, a luxury car, goes to the salon/spa regularly, and goes out for coffee/lunch nearly everyday.


Cinder

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Re: Overheard at Work
« Reply #4606 on: October 10, 2014, 09:22:21 AM »
Seems like as good a place as any to bring this up, though it doesn't really belong on an anti-mustachian board it did happen at work.

This is the thread you are looking for!

http://forum.mrmoneymustache.com/antimustachian-wall-of-shame-and-comedy/overheard-at-work-the-anti-antimustachian-edition/

skunkfunk

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Re: Overheard at Work
« Reply #4607 on: October 10, 2014, 09:27:14 AM »
Seems like as good a place as any to bring this up, though it doesn't really belong on an anti-mustachian board it did happen at work.

This is the thread you are looking for!

http://forum.mrmoneymustache.com/antimustachian-wall-of-shame-and-comedy/overheard-at-work-the-anti-antimustachian-edition/

Ah. I shall move it now.

Gone Fishing

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Re: Overheard at Work
« Reply #4608 on: October 10, 2014, 09:59:30 AM »
Coworker had pop up camper and Suburban to pull it with.  Traded pop-up for full size camper.  Decided Suburban wasn't big enough to pull it, so it was traded for $50k Chevy 2500, diesel, 4x4, crewcab.  Best part is, his total fuel expense will actually go down and his payment only went up $30 a month! The only problem is, said truck will not fit in garage, so structural garage modification (including new door) will begin shortly.

Cheddar Stacker

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Re: Overheard at Work
« Reply #4609 on: October 10, 2014, 10:08:25 AM »
Coworker had pop up camper and Suburban to pull it with.  Traded pop-up for full size camper.  Decided Suburban wasn't big enough to pull it, so it was traded for $50k Chevy 2500, diesel, 4x4, crewcab.  Best part is, his total fuel expense will actually go down and his payment only went up $30 a month! The only problem is, said truck will not fit in garage, so structural garage modification (including new door) will begin shortly.

This is a perfect example of what not to do.

We have too much stuff, let's buy a bigger house.
Wow, look at all this space in the new house, we need more stuff.

Vicious cycle.

eyePod

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Re: Overheard at Work
« Reply #4610 on: October 10, 2014, 10:12:50 AM »
Coworker had pop up camper and Suburban to pull it with.  Traded pop-up for full size camper.  Decided Suburban wasn't big enough to pull it, so it was traded for $50k Chevy 2500, diesel, 4x4, crewcab.  Best part is, his total fuel expense will actually go down and his payment only went up $30 a month! The only problem is, said truck will not fit in garage, so structural garage modification (including new door) will begin shortly.

This is a perfect example of what not to do.

We have too much stuff, let's buy a bigger house.
Wow, look at all this space in the new house, we need more stuff.

Vicious cycle.

Don't forget the diminishing return on happiness from buying more stuff. "We bought all this stuff but buying it didn't make us as happy as it used to! Let's buy more!"  Consumerism is an addictive.

aetherie

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Re: Overheard at Work
« Reply #4611 on: October 10, 2014, 10:21:48 AM »
Coworker 1: "That's the whole point of driving a stick shift - you go one or two gears lower, get as much power as possible, you know?"
Coworker 2: "Doesn't driving like that screw up the clutch after a while?"
Coworker 1: "That's why I lease it. So I don't have to worry about that."

ketchup

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Re: Overheard at Work
« Reply #4612 on: October 10, 2014, 10:24:38 AM »
Coworker 1: "That's the whole point of driving a stick shift - you go one or two gears lower, get as much power as possible, you know?"
Coworker 2: "Doesn't driving like that screw up the clutch after a while?"
Coworker 1: "That's why I lease it. So I don't have to worry about that."
GAH SO MUCH BAD

Le Barbu

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Re: Overheard at Work
« Reply #4613 on: October 10, 2014, 10:29:12 AM »
Here in Québec, we often see what I named the "trailer, wood lot & garage syndrome"
The way it goes:

"I really like the kind of warmth a fire stove brings in a house*, so, I have a plan to get some wood for FREE”

I’ll buy that 30 acres wood lot 35 miles away from my place. It's about 75k but the value will increase forever for sure. It’s better than any investment you can find anyway. I got an F-150 already but will definitely upgrade my trailer to carry wood. My shed is tinny but I planned to move/crush it and build a nice (means huge & insulated and wood heated) garage so I can store the wood, My Precious (F-150), the big trailer, all the tools including the steel solder and VTT etc.

Most of the time, 2 years later, the F-150 is upgraded for a brand new F-250 because it’s more H-Duty, reliable and with the crew cab, leather seats DVD player etc, we’ll enjoy it for our vacation trips hauling our 35 foot fifth wheel.

I let you guess total cost of this plan, but fortunately, the wood is free because you own the lot!

*btw, electricity cost 0.08$ per kWh at maximum rate here. I roughly estimate my heat cost to be at most 800$/year for my 1600 sq. foot house (we keep T at comfort level).

larmando

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Re: Overheard at Work
« Reply #4614 on: October 10, 2014, 11:24:44 AM »

You're misunderstanding; they've been accelerating the whole time and are just now getting to highway speed.

'92 checkin' in.

I've had that problem a lot driving my subaru, especially when it is loaded down. People seem really surprised when you pass them again, but it seems ridiculous since they decided to jackrabbit start from lights....

On topic: I work at a financial institution, and the most common thing I hear from my coworkers is "I'm so broke!".

I wouldn't necessarily take that so seriously though! It's something I enjoy saying, although it's clearly not true... But then again, I am in order to maintain my savings rate and such! :)



hred17

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Re: Overheard at Work
« Reply #4615 on: October 10, 2014, 11:27:15 AM »
A co-worker was recently complaining to me about how stressed she was about money. She shared that even though she had just paid off her mortgage, she was having to take out a new 25-year mortgage on her paid-off house (to the tune of $1400/mo) in order to pay her ex-husband his half of the house she owed him since their divorce.

Her house is worth over $400K. I asked her why she didn't sell the house, pay off her ex, and pay cash for a smaller, more affordable house in the same area (there are plenty available for under $200k). She looked at me like I had grown horns.

The BEST part is that she came into work on the following Monday all excited because she had leased a brand new Mercedes over the weekend. But "she got a good deal as the lease is only $575/mo".

Face. Palm.

innkeeper77

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Re: Overheard at Work
« Reply #4616 on: October 10, 2014, 11:41:34 AM »
....
On topic: I work at a financial institution, and the most common thing I hear from my coworkers is "I'm so broke!".

I wouldn't necessarily take that so seriously though! It's something I enjoy saying, although it's clearly not true... But then again, I am in order to maintain my savings rate and such! :)

Oh, it's true.... also, when talking to my boss about our 401k (I was dissapointed to find only EXTREMELY high cost actively managed funds, although they use Charles Schwab who offers an "index advantage" version of the same plan, they would have nothing to do with it) one of my coworkers decided to "warn" me that they automatically set you at 3 whole percent unless you tell them otherwise! "I didn't sign up for it, so they set me at three percent. I had to go back in and set it to zero" .... (The company has a somewhat ok match, 50% of your contribution, up to 6%)

Fonzico

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Re: Overheard at Work
« Reply #4617 on: October 10, 2014, 11:45:50 AM »
We have a newish guy, I think he's been here for about a month now. I should mention we get paid weekly.

The first pay day, he was asking around, trying to find out if his bank was open past 5, as we don't have direct deposit. When someone said they were pretty sure they were open on Saturdays, he was frustrated and insisted he needed it that day. Okay, fine, first pay cheque, maybe things have gotten stretched a bit since his last job - not great, obviously, but not really surprising.

The next payday, I asked him what his plans were for the weekend. He responded that he "had a whole paycheque to go spend!". Hmmm. Maybe that explains for than it doesn't. Also, this conversation has been repeated - apparently this is his stock answer for what he does on weekends. Did I mention he's got a pregnant girlfriend?

On the last cheque of the month, he was trying to figure out if we got one more before the month ended, because his gf wanted to move to a different apartment. Granted, they live in a pretty sketchy place, so I can understand why, but the utter lack of any foresight or planning for the future is dismaying.

I feel kind of bad for the kid. I really don't have much hope for him that he'll figure it out.

MandalayVA

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Re: Overheard at Work
« Reply #4618 on: October 10, 2014, 12:06:46 PM »
This last year I had my companies primium health insurance because it made financial sense (we only paid a total of $400 for the birth, pregnancy, etc.). Because I am on a rotational program for work, I had the opprotunity to change insurance carriers. I decided to go with the high deductible plan. It has $5,000 deductible and the company puts $2,000 into a HSA. I have a small copay for vision and dental, and a good price for about $2800 a year (I think this is a fantastic deal!).

Me: I would like to change over to the high deductible plan with the HSA
HR: Do know about the $5,000 deductible?
Me: Yes, it is a high deductible plan.
HR: This means you will have to pay for everything out of pocket.
Me: Only for any costs are between $3,000 and $5,000
HR: Well, yes... But what if you have a bad year? I never recommend this program to people. Who has $3,000 to pay for medical bills?
Me: The other plan was guarunteed to cost me an extra $2,000 per year. I think this plan is not very risky. Especially since the money will roll over every year. It is like freee money!
HR:But it is so risky! You could go bankrupt!
(She knows that I'm a new hire and probably have student loans, but in reality I already have saved nearly enough for a $20% down payment)
Me: I'll go with that high deductible plan.
HR: Don't say I didn't warn you!

We're currently having open enrollment at my job, and I got the same OMG THAT'S TOO MUCH DEDUCTIBLE WHAT IF SOMETHING HAPPENS?!?!1?!?

That's when I smiled and said, "if something happens I have more than enough in my HSA to take care of it."

I'll also add that we're given a MasterCard to use to access the HSA.  You can imagine the disappointment of many of my coworkers when they learned it can't be used like a regular credit card.  :facepalm:

gimp

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Re: Overheard at Work
« Reply #4619 on: October 10, 2014, 12:13:57 PM »
....
On topic: I work at a financial institution, and the most common thing I hear from my coworkers is "I'm so broke!".

I wouldn't necessarily take that so seriously though! It's something I enjoy saying, although it's clearly not true... But then again, I am in order to maintain my savings rate and such! :)

Oh, it's true.... also, when talking to my boss about our 401k (I was dissapointed to find only EXTREMELY high cost actively managed funds, although they use Charles Schwab who offers an "index advantage" version of the same plan, they would have nothing to do with it) one of my coworkers decided to "warn" me that they automatically set you at 3 whole percent unless you tell them otherwise! "I didn't sign up for it, so they set me at three percent. I had to go back in and set it to zero" .... (The company has a somewhat ok match, 50% of your contribution, up to 6%)

Look into doing a PCRA. My employer uses schwab and that's what I do - boom, low-cost index funds. Schwab's ETF is 0.04%.

Davids

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Re: Overheard at Work
« Reply #4620 on: October 10, 2014, 12:21:55 PM »
Overheard on train - 2 mid-40's guys:

If there ever was such a thing as an MMM movie, that scene would be the trailer.
The movie would make no money because it is antimustachian to go to the movie theatres. None of its would buy it on DVD or Bluray, we would wait till we had a free redbox rental code or when it was on netflix to watch.

Cheddar Stacker

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Re: Overheard at Work
« Reply #4621 on: October 10, 2014, 01:05:49 PM »
Overheard on train - 2 mid-40's guys:

If there ever was such a thing as an MMM movie, that scene would be the trailer.
The movie would make no money because it is antimustachian to go to the movie theatres. None of its would buy it on DVD or Bluray, we would wait till we had a free redbox rental code or when it was on netflix to watch.

Good point. Then it will have to be made on the cheap by some FIREd mustachians so profit is irrelevant.

boarder42

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Re: Overheard at Work
« Reply #4622 on: October 10, 2014, 01:07:38 PM »
Or use the internet to obtain a copy

MissMoneyBags

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Re: Overheard at Work
« Reply #4623 on: October 10, 2014, 02:43:40 PM »
I have a co-worker who's always telling me how broke she is. We do the same job, so we make the same amount of money. The difference is that:

She lives on her own in a two-bed place in an expensive area  - she refuses to get a flatmate

Her energy bills are astronomical - she says it's because she can't afford to get her inefficient boiler replaced - it would pay for itself within three years max.

She buys a coffee every day on her way in - coffee is supplied at work..

She buys lunch every day.

She goes to the cinema/theatre/restaurants several times a week

She buys expensive (£100) shoes, that are then too painful to wear.

She has the latest Iphone on an expensive contract.

She signs up for for monthly services related to work, as she "needs" them. Again we do exactly the same job, and I don't use these services..

The latest is that she went on two week holiday recently -  total cost: £2000 - which she put on a credit card!!!

Then she says rather wishfully: I would be so much happier, if I had savings like a thousand pounds in the bank... I want to shake her so she wakes up from this nightmare, but she won't listen. It's a shame because she is literally one of the nicest people I know, and I really like her.

Albert

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Re: Overheard at Work
« Reply #4624 on: October 10, 2014, 02:57:31 PM »
She also either has a really modest income if all that you write is enough to bankrupt her or alternatively she lives in a REALLY expensive area (central London?).

skunkfunk

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Re: Overheard at Work
« Reply #4625 on: October 10, 2014, 03:00:51 PM »

She goes to the cinema/theatre/restaurants several times a week


Digression: I love your user name, and I noticed you have 1 post so decided to click it. You've had it since Oct. 2013 and this is your first post?!!

Back on topic: I bet she has a nice mound of CC debt. Cinema/theatre/restaurants several times a week is insanely expensive - my morbid curiosity demands more details, what are these "services"?

MissMoneyBags

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Re: Overheard at Work
« Reply #4626 on: October 10, 2014, 03:12:43 PM »
She also either has a really modest income if all that you write is enough to bankrupt her or alternatively she lives in a REALLY expensive area (central London?).

Yep. Central London. And she earns 35K. I know her outgoings for the flat is more than 60% of her take home pay.

MissMoneyBags

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Re: Overheard at Work
« Reply #4627 on: October 10, 2014, 03:20:41 PM »

She goes to the cinema/theatre/restaurants several times a week


Digression: I love your user name, and I noticed you have 1 post so decided to click it. You've had it since Oct. 2013 and this is your first post?!!

Back on topic: I bet she has a nice mound of CC debt. Cinema/theatre/restaurants several times a week is insanely expensive - my morbid curiosity demands more details, what are these "services"?

I know - it's a long time to be lurking. I don't really post on forums.. Maybe I should get into it more? You all seem so nice.

For example she "needs" more storage on dropbox. I think it's $100 a year. She "needs" all the different software (think Adobe CC) we use on her laptop - so she pays for them monthly. It's all on the work computers anyway.

Albert

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Re: Overheard at Work
« Reply #4628 on: October 10, 2014, 03:35:01 PM »
She also either has a really modest income if all that you write is enough to bankrupt her or alternatively she lives in a REALLY expensive area (central London?).

Yep. Central London. And she earns 35K. I know her outgoings for the flat is more than 60% of her take home pay.

Makes perfect sense then. That's a low salary for living alone in a two room flat in central London. I wouldn't attempt it...

arebelspy

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Re: Overheard at Work
« Reply #4629 on: October 10, 2014, 03:40:55 PM »
I'm glad this thread drew you out, MMB.  Welcome!  :)
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

MissMoneyBags

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Re: Overheard at Work
« Reply #4630 on: October 10, 2014, 03:49:46 PM »
I'm glad this thread drew you out, MMB.  Welcome!  :)

Thank you very much :)

Melody

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Re: Overheard at Work
« Reply #4631 on: October 10, 2014, 06:09:31 PM »
Hmmm from my memory, theatre in London was cheap by aus/us standards but still not cheap. I went to a few on my last vacation and at 20 to 50 pounds a ticket, this probably could seriously hurt even on a decent salary!

kyanamerinas

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Re: Overheard at Work
« Reply #4632 on: October 10, 2014, 07:10:27 PM »
Why on earth would you pay for unnecessary living space in London on that salary?! That said wonderful as London is, all housing costs are mad there. My friend's share of a 2 bed flat which is almost 45 m min from the centre is 3x my mortgage payment on a 3 bed house.

fantabulous

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Re: Overheard at Work
« Reply #4633 on: October 10, 2014, 08:31:07 PM »
I think we should just go for the index finger on the upper lip (Mustache style) ???

Somewhat related, I sometimes wear this at my IT job when I need the extra computing prowess that a beard confers: http://mcphee.com/shop/inflatable-beard.html

gimp

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Re: Overheard at Work
« Reply #4634 on: October 10, 2014, 08:47:02 PM »
Have you tried just growing out a beard?

larmando

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Re: Overheard at Work
« Reply #4635 on: October 11, 2014, 12:11:05 AM »
Have you tried just growing out a beard?
I heard that roughly half of the human population finds that difficult or impractical. :p

Apples

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Re: Overheard at Work
« Reply #4636 on: October 11, 2014, 05:36:28 AM »
Have you tried just growing out a beard?
I heard that roughly half of the human population finds that difficult or impractical. :p

Especially the half that is more likely to choose a username like fantabulous haha.

Elderwood17

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Re: Overheard at Work
« Reply #4637 on: October 11, 2014, 06:47:52 AM »
Then she says rather wishfully: I would be so much happier, if I had savings like a thousand pounds in the bank... I want to shake her so she wakes up from this nightmare, but she won't listen. It's a shame because she is literally one of the nicest people I know, and I really like her.

Sometimes I am struck by the parallels between denial of a chemical addiction or gambling addiction, and the denial of "your hair is on fire you have a financial emergency"!  I am getting bolder in telling those I am closest to that they really are headed towards a financial cliff that threatens them severely; it is the kindest thing you really can do, if there is any chance they will listen.  Perhaps the wish for a thousand pounds in the bank is an opening to showing her how to get there?

mm1970

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Re: Overheard at Work
« Reply #4638 on: October 11, 2014, 11:31:10 AM »
Coworker had pop up camper and Suburban to pull it with.  Traded pop-up for full size camper.  Decided Suburban wasn't big enough to pull it, so it was traded for $50k Chevy 2500, diesel, 4x4, crewcab.  Best part is, his total fuel expense will actually go down and his payment only went up $30 a month! The only problem is, said truck will not fit in garage, so structural garage modification (including new door) will begin shortly.

This is a perfect example of what not to do.

We have too much stuff, let's buy a bigger house.
Wow, look at all this space in the new house, we need more stuff.

Vicious cycle.
I know.  I love camping.  We tent camp.  I'd really like to have something with walls.  So I looked into really small teardrops, that can be pulled with our Matrix.  But then we had a second kid, so there aren't any teardrops that will fit four.

Then I looked over pop-ups, but even the smallest ones are big enough that it's not really recommended to tow with a Matrix.  So then you'd need a SLIGHTLY bigger car with better towing.

Of course I did what any mustachian would do, which is said "EFF IT", got a slightly bigger tent (9x10 instead of 7x7), called it good.

RyanAtTanagra

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Re: Overheard at Work
« Reply #4639 on: October 11, 2014, 11:40:14 AM »
Of course I did what any mustachian would do, which is said "EFF IT", got a slightly bigger tent (9x10 instead of 7x7), called it good.

When the kids are a little older, you get the teardrop for you and the missus and stick the kids in a tent ;-)  Kids don't care what they sleep on and they have a blast in their own tent.  Depending on how old the oldest is now, might still be an option.  Have them bring a friend to share the tent with and you guys sleep with the little one.

otherbarry

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Re: Overheard at Work
« Reply #4640 on: October 11, 2014, 12:55:26 PM »
I'm back at school, so this isn't at work, but my Engineering Economy professor constantly makes snide comments about how long we'll work, despite admitting she owns no investments. She would write a problem like this:

"Sally wants to retire with 1 million 40 years from now. How much should she save each year with an interest rate of 10% to achieve this."

But then she'll say something like, "But to be honest you guys will be working long after 70 so this isn't very realistic for your generation." Yet she owns no investments and says how debt isn't a bad thing. I agree with that but only if the debt allows you to make more returns via investments (which she doesn't own) than the loan payments are. No wonder people stay employed long after they should be.

RWD

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Re: Overheard at Work
« Reply #4641 on: October 11, 2014, 01:16:47 PM »
I'm back at school, so this isn't at work, but my Engineering Economy professor constantly makes snide comments about how long we'll work, despite admitting she owns no investments. She would write a problem like this:

"Sally wants to retire with 1 million 40 years from now. How much should she save each year with an interest rate of 10% to achieve this."

But then she'll say something like, "But to be honest you guys will be working long after 70 so this isn't very realistic for your generation." Yet she owns no investments and says how debt isn't a bad thing. I agree with that but only if the debt allows you to make more returns via investments (which she doesn't own) than the loan payments are. No wonder people stay employed long after they should be.

I came up with $2,054.02 to that problem, which seems easy to achieve. The 10% interest is probably unrealistic though. Why is she even teaching economics if she doesn't appear to believe what she teaches?

arebelspy

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Re: Overheard at Work
« Reply #4642 on: October 11, 2014, 02:30:32 PM »

I'm back at school, so this isn't at work, but my Engineering Economy professor constantly makes snide comments about how long we'll work, despite admitting she owns no investments. She would write a problem like this:

"Sally wants to retire with 1 million 40 years from now. How much should she save each year with an interest rate of 10% to achieve this."

But then she'll say something like, "But to be honest you guys will be working long after 70 so this isn't very realistic for your generation." Yet she owns no investments and says how debt isn't a bad thing. I agree with that but only if the debt allows you to make more returns via investments (which she doesn't own) than the loan payments are. No wonder people stay employed long after they should be.

I came up with $2,054.02 to that problem, which seems easy to achieve. The 10% interest is probably unrealistic though. Why is she even teaching economics if she doesn't appear to believe what she teaches?

Perhaps she does, but believes that the theoretical and practical are different.
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
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AlanStache

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Re: Overheard at Work
« Reply #4643 on: October 11, 2014, 06:52:19 PM »

I'm back at school, so this isn't at work, but my Engineering Economy professor constantly makes snide comments about how long we'll work, despite admitting she owns no investments. She would write a problem like this:

"Sally wants to retire with 1 million 40 years from now. How much should she save each year with an interest rate of 10% to achieve this."

But then she'll say something like, "But to be honest you guys will be working long after 70 so this isn't very realistic for your generation." Yet she owns no investments and says how debt isn't a bad thing. I agree with that but only if the debt allows you to make more returns via investments (which she doesn't own) than the loan payments are. No wonder people stay employed long after they should be.

I came up with $2,054.02 to that problem, which seems easy to achieve. The 10% interest is probably unrealistic though. Why is she even teaching economics if she doesn't appear to believe what she teaches?

Perhaps she does, but believes that the theoretical and practical are different.

"Engineering is the art or science of making practical application of the knowledge of pure science."   Irony or sarcasm, or maybe the prof just wants a new Infinity every few years?  (Yes engineering is very much art & it can be very creative. -A Hard Core Engineer, heck I would almost say art comes to the forefront at times.)

Ferrisbueller

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Re: Overheard at Work
« Reply #4644 on: October 12, 2014, 07:03:46 AM »
I was reading an earlier post about someone saying their boss didn't notice he wasn't paid one month and it made me think of this story.

I work as a financial broker in a company I joined a few years ago.  As a broker my company gets copied on all correspondence that investment companies send to our clients.  We periodically ask the investment companies to give us lists of our clients with investments amounts (shit CRM system so our records can be very patchy).
Anyway I see one client on the list whose 68 and who's normal retirement age was 65 and he hasn't touched his money. So I do some digging and find out none of my colleagues have spoken to the guy in years (could be dead we're thinking). There's no phone number on file just an address from the early 00's so I write him a letter telling him to get in contact with us and giving him my number. Anyway few weeks later the guy calls:

Client: thanks for the letter what's this about ?
FB: well I wrote to you about abc company as you were in the pension scheme there for a few years
Client: oh yeah, that was years ago
FB: well you're 68 and the plan matured at 65 so you can take your benefits if you like
Client: oh I forgot all about that scheme, how much is in there anyway ?
FB: (nearly speechless) ohhh just under $490,000

Fuck me....how much is this guy worth that he can forget about a cool $0.5M

farmstache

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Re: Overheard at Work
« Reply #4645 on: October 12, 2014, 04:48:08 PM »
I was reading an earlier post about someone saying their boss didn't notice he wasn't paid one month and it made me think of this story.

I work as a financial broker in a company I joined a few years ago.  As a broker my company gets copied on all correspondence that investment companies send to our clients.  We periodically ask the investment companies to give us lists of our clients with investments amounts (shit CRM system so our records can be very patchy).
Anyway I see one client on the list whose 68 and who's normal retirement age was 65 and he hasn't touched his money. So I do some digging and find out none of my colleagues have spoken to the guy in years (could be dead we're thinking). There's no phone number on file just an address from the early 00's so I write him a letter telling him to get in contact with us and giving him my number. Anyway few weeks later the guy calls:

Client: thanks for the letter what's this about ?
FB: well I wrote to you about abc company as you were in the pension scheme there for a few years
Client: oh yeah, that was years ago
FB: well you're 68 and the plan matured at 65 so you can take your benefits if you like
Client: oh I forgot all about that scheme, how much is in there anyway ?
FB: (nearly speechless) ohhh just under $490,000

Fuck me....how much is this guy worth that he can forget about a cool $0.5M

Well, this could almost be considered mustachian... But if he's just a clueless guy like me (I still have to make myself look things up or I forget about them totally), maybe he thought it wasn't much, or just, well, forgot about that pension plan he didn't have to worry about for years... and probably doesn't track his expenses and NW to remember it existed.

The key to this answer is how did he react? Nonchalant or really happily surprised? :)

rocksinmyhead

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Re: Overheard at Work
« Reply #4646 on: October 13, 2014, 07:09:58 AM »

You're misunderstanding; they've been accelerating the whole time and are just now getting to highway speed.

'92 checkin' in.

I've had that problem a lot driving my subaru, especially when it is loaded down. People seem really surprised when you pass them again, but it seems ridiculous since they decided to jackrabbit start from lights....

On topic: I work at a financial institution, and the most common thing I hear from my coworkers is "I'm so broke!".

I wouldn't necessarily take that so seriously though! It's something I enjoy saying, although it's clearly not true... But then again, I am in order to maintain my savings rate and such! :)

yeah, I purposely make myself "feel" broke by deducting a bunch of money out of my paycheck to go to 401K and ESPP :)

HairyUpperLip

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Re: Overheard at Work
« Reply #4647 on: October 13, 2014, 07:41:46 AM »

Oh boy, this could get ugly.

I'll just say while I like cleanliness, health, smaller cars, etc., you could do worse than ending up just like Murica.

lol - I guess I should have put a disclaimer that I don't hate America or anything like that. Love it here. Became a US citizen by choice. :)

HairyUpperLip

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Re: Overheard at Work
« Reply #4648 on: October 13, 2014, 07:46:30 AM »
the funny part is that his wife works for a bank and does loan risks assesment LOL.

fuckin' mind blowing. :(

HairyUpperLip

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Re: Overheard at Work
« Reply #4649 on: October 13, 2014, 09:14:49 AM »
Near daily I hear about the loans these students are taking out for school. I know it is expensive but $100k in student loans - yikes! I'm pretty frightened about the massive debt students are having to take on just for a BS.


I got you beat, not that it's a competition.

A "friend" of mine drives a decent Lexus and delivers pizza for a living. The guy is like 33-34 now I think? Anyways, he's always gone from random odd job to random off job. Recently he applied for school to pursue computer programming and also told me that since his income was so low school is free.

BUUUUUUUUUUUUUUUT, he decided since school was free and he didn't need the loan he applied for he might as well take the money and use it to "pay off debt", buy aftermarket car parts, and who knows what else. Makes me very angry, honestly.

 

Wow, a phone plan for fifteen bucks!