Author Topic: Overheard at Work  (Read 4929457 times)

Apples

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Re: Overheard at Work
« Reply #4700 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 #4701 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 #4702 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 #4703 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 #4704 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 #4705 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 #4706 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.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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AlanStache

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Re: Overheard at Work
« Reply #4707 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.)
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Ferrisbueller

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Re: Overheard at Work
« Reply #4708 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 #4709 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 #4710 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 #4711 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 #4712 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 #4713 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.

HairyUpperLip

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Re: Overheard at Work
« Reply #4714 on: October 13, 2014, 09:36:25 AM »
I'm glad this thread drew you out, MMB.  Welcome!  :)


Lol - you post a lot in this thread now. I guess once it's on your updated topics no choice but to keep posting. :-P

arebelspy

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Re: Overheard at Work
« Reply #4715 on: October 13, 2014, 09:39:21 AM »
I'm glad this thread drew you out, MMB.  Welcome!  :)


Lol - you post a lot in this thread now. I guess once it's on your updated topics no choice but to keep posting. :-P

That's why I avoided it for so long.

My post count would probably be double and this thread would have twice as many pages if I had replied to this back on page one!  ;)

That's why I still haven't posted in the "Welcome, Introduce Yourself" thread.  Then I'll be trapped saying hi to every person that introduces themselves.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

HairyUpperLip

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Re: Overheard at Work
« Reply #4716 on: October 13, 2014, 09:44:21 AM »
I'm glad this thread drew you out, MMB.  Welcome!  :)


Lol - you post a lot in this thread now. I guess once it's on your updated topics no choice but to keep posting. :-P

That's why I avoided it for so long.

My post count would probably be double and this thread would have twice as many pages if I had replied to this back on page one!  ;)

That's why I still haven't posted in the "Welcome, Introduce Yourself" thread.  Then I'll be trapped saying hi to every person that introduces themselves.

lol man, I totally regret posting in that thread now.

dragoncar

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Re: Overheard at Work
« Reply #4717 on: October 13, 2014, 09:46:17 AM »
I'm glad this thread drew you out, MMB.  Welcome!  :)


Lol - you post a lot in this thread now. I guess once it's on your updated topics no choice but to keep posting. :-P

It's simple: we merely remove the human element from the equation

solon

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Re: Overheard at Work
« Reply #4718 on: October 13, 2014, 10:40:51 AM »
I'm glad this thread drew you out, MMB.  Welcome!  :)


Lol - you post a lot in this thread now. I guess once it's on your updated topics no choice but to keep posting. :-P

That's why I avoided it for so long.

My post count would probably be double and this thread would have twice as many pages if I had replied to this back on page one!  ;)

That's why I still haven't posted in the "Welcome, Introduce Yourself" thread.  Then I'll be trapped saying hi to every person that introduces themselves.

Is there any way to mute a thread? Or at least stop it from showing up in your new replies list? There must be an extension or add-in for simple machines that does this. Does anyone know?

arebelspy

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Re: Overheard at Work
« Reply #4719 on: October 13, 2014, 11:04:25 AM »
Not that I know of.  You could probably work up a greasemonkey, or equivalent, script if you're competent at that sort of things.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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.
You can also read my forum "Journal."



Lis

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Re: Overheard at Work
« Reply #4722 on: October 13, 2014, 12:51:28 PM »
The other day my credit card was declined for a ~$2 purchase of envelopes. The cause was purely bank incompetency, not a lack of funds. I'm a customer of a large number of banks in US and Canada and I can tell you that banks made errors like this all the time. Additionally, since my money is split across around 30 accounts, it wouldn't be too surprising if one day I use the wrong instrument to pay for something, giving the illusion that I no money (although I haven't actually made this mistake yet).

I just had to comment on this because it's definitely a mistaken impression to think that a declined card has anything to do with a lack of funds -- almost always, this is caused by bank error.

There was a "What Would You Do" episode about this. Presumably, a guy and a girl are on a first date, or newly dating, and they're waiting on line to pay for something. His card gets declined for a relatively small purchase and he starts worrying. They, of course, are actors, but they wanted to see what people around them would do. Someone told the girl to get out before she's in too deep, because she shouldn't have to deal with her man having a declined credit card. It went on to explain how cards are usually declined because of some sort of computer error, either from the bank or from the store itself.

My AMEX was declined once while I was grocery shopping. I was doing my bulk shopping and had a pretty hefty transaction (~$100). I scanned it three or four times and it said 'card declined' each time. I had just paid it off in full and was no where near my limit, but I still had that feeling of 'oh shit!' I was more concerned that someone had stolen my cc and had run up a ton of purchases. The guy behind me laughed and asked me if I had too good of a weekend (it was a Monday). The cashier took my card and swiped it on her side and it went through just fine.

Moral of the story is: seeing a card being declined means nothing. But, with the stories on this page, typically it means people don't know how to budget.

geekette

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Re: Overheard at Work
« Reply #4723 on: October 13, 2014, 01:02:00 PM »
With all the recent data breaches, a card declined probably just means yours was one of them.  Happened to us TWICE recently.  Card gets declined, embarrassingly, at the register.  You find another way to pay, call the company, tell them that no, you didn't make that bogus overseas charge, and they send you a new one.  Whee.

Joggernot

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Re: Overheard at Work
« Reply #4724 on: October 13, 2014, 01:58:16 PM »
Is there any way to mute a thread? Or at least stop it from showing up in your new replies list? There must be an extension or add-in for simple machines that does this. Does anyone know?
Go to the top or bottom of the thread and you will see boxes.  One of them is marked either "Notify" or "Unnotify".  To get the threads sent to you click on the "Notify" box.  To stop the notifications, click on the "Unnotify" box.
« Last Edit: October 13, 2014, 02:01:12 PM by Joggernot »

Timmmy

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Re: Overheard at Work
« Reply #4725 on: October 13, 2014, 02:09:46 PM »
Is there any way to mute a thread? Or at least stop it from showing up in your new replies list? There must be an extension or add-in for simple machines that does this. Does anyone know?
Go to the top or bottom of the thread and you will see boxes.  One of them is marked either "Notify" or "Unnotify".  To get the threads sent to you click on the "Notify" box.  To stop the notifications, click on the "Unnotify" box.

Mine says Notify but I still receive notifications.  Does this work for threads that you have responded to?

arebelspy

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Re: Overheard at Work
« Reply #4726 on: October 13, 2014, 02:14:25 PM »
Is there any way to mute a thread? Or at least stop it from showing up in your new replies list? There must be an extension or add-in for simple machines that does this. Does anyone know?
Go to the top or bottom of the thread and you will see boxes.  One of them is marked either "Notify" or "Unnotify".  To get the threads sent to you click on the "Notify" box.  To stop the notifications, click on the "Unnotify" box.

I don't get any notifications at all (on purpose), but there is no way to remove a thread from your "replies to your posts" list, AFAIK, besides deleting your post.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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.
You can also read my forum "Journal."

Ashyukun

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Re: Overheard at Work
« Reply #4727 on: October 13, 2014, 02:55:50 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 just had our Open Elections period for our benefits open up- and I was kind of surprised to see that the company was ONLY offering HDHSA plans and no 'conventional' health insurance plans. Didn't bother me in the least bit- I can easily do the math to see that on the whole it's smarter to have it this way. Heck, it's actually smarter IMO to go with the highest deductible plan which costs almost nothing out of pocket- if you put the difference in it from the lower-deductible plan into the HSA it doesn't quite make up the difference, but if you aren't expecting a ton of medical expenses you'll probably come out ahead each year.

Unfortunately I'm one of the only ones in my office who is employed by this company- the rest are working for a company we contract to do work, so I don't get to hear all the griping that is likely happening back at the Home Plant about this...

frugalparagon

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Re: Overheard at Work
« Reply #4728 on: October 13, 2014, 03:04:00 PM »
I wouldn't say that complaining about an HDHSA necessarily qualifies you for the Wall. If you had somewhat high medical expenses, like two kids with asthma, you might be better off with a more inclusive plan.

I've never had an HSA but I did, in one memorably year, find out I was pregnant during open enrollment (surprise!) and we upped to the all-inclusive plan for the duration, then back down to a cheaper, higher copay plan once we'd had the baby and he came out healthy.
I blog about Mustachianism during the child-raising years at frugalparagon.com.

Ashyukun

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Re: Overheard at Work
« Reply #4729 on: October 13, 2014, 03:27:25 PM »
I wouldn't say that complaining about an HDHSA necessarily qualifies you for the Wall. If you had somewhat high medical expenses, like two kids with asthma, you might be better off with a more inclusive plan.

I've never had an HSA but I did, in one memorably year, find out I was pregnant during open enrollment (surprise!) and we upped to the all-inclusive plan for the duration, then back down to a cheaper, higher copay plan once we'd had the baby and he came out healthy.

We were actually planning on doing the hard numbers on the traditional plan vs. the HDHSA since we're hoping to be having a baby next year, but the company took the option away on that. And honestly, I think that even with high medical expenses that you know are coming that you end up pretty good with the HDP. For the highest ($3k) deductible plan it's completely FREE for just me, and only about $750 more adding my wife to the plan. The all-inclusive plans were several thousand dollars a year minimum- when it became available I just moved all of what I had been paying (and a bit more) to going into the HSA.

farmstache

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Re: Overheard at Work
« Reply #4730 on: October 13, 2014, 04:30:51 PM »
That's why I avoided it for so long.

My post count would probably be double and this thread would have twice as many pages if I had replied to this back on page one!  ;)

That's why I still haven't posted in the "Welcome, Introduce Yourself" thread.  Then I'll be trapped saying hi to every person that introduces themselves.

Awn, rebs, you're such a nice guy!

I have absolutely no problem not responding to the people in the introduction thread. I think I never even went back to see if anyone had replied to me... I just keep it on the lowest position on my unread topics :)

Yup, you're way sweet!

dragoncar

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Re: Overheard at Work
« Reply #4731 on: October 13, 2014, 05:05:19 PM »

Awn, rebs, you're such a nice guy!

I have absolutely no problem not responding to the people in the introduction thread.

I have to actively refrain from telling people in the introduction thread to go to hell.

Joggernot

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Re: Overheard at Work
« Reply #4732 on: October 13, 2014, 05:30:40 PM »
Is there any way to mute a thread? Or at least stop it from showing up in your new replies list? There must be an extension or add-in for simple machines that does this. Does anyone know?
Go to the top or bottom of the thread and you will see boxes.  One of them is marked either "Notify" or "Unnotify".  To get the threads sent to you click on the "Notify" box.  To stop the notifications, click on the "Unnotify" box.

Mine says Notify but I still receive notifications.  Does this work for threads that you have responded to?
When you post a response or thread, click the "Attachments and other options" line.  There you will find some check boxes; one of which is "Notify me of replies".  This box is checked by default, so uncheck it if you don't want to receive notices of replies.

If the Notify box says "Notify" you shouldn't be receiving notifications.  I would try clicking the box, wait a day, then click the "Unnotify" box to see if that would work.

Cheddar Stacker

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Re: Overheard at Work
« Reply #4733 on: October 13, 2014, 07:33:20 PM »

Awn, rebs, you're such a nice guy!

I have absolutely no problem not responding to the people in the introduction thread.

I have to actively refrain from telling people in the introduction thread to go to hell.

Well, that makes me extremely glad I never posted in that thread. I wouldn't want the urge to tell people to go to hell on a daily basis.
Indecision may or may not be my problem.

sheepstache

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Re: Overheard at Work
« Reply #4734 on: October 13, 2014, 07:42:38 PM »

Awn, rebs, you're such a nice guy!

I have absolutely no problem not responding to the people in the introduction thread.

I have to actively refrain from telling people in the introduction thread to go to hell.

I do tell them to go to hell. Fortunately nobody reads it, they just post.

otherbarry

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Re: Overheard at Work
« Reply #4735 on: October 13, 2014, 08:20:08 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?

Yeah the problem I made up. It's more general comments she makes all the time, mostly about working long after 65. Then she'll make us choose which financing method is best for a new car.

MgoSam

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Re: Overheard at Work
« Reply #4736 on: October 13, 2014, 08:35:52 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?

Yeah the problem I made up. It's more general comments she makes all the time, mostly about working long after 65. Then she'll make us choose which financing method is best for a new car.

Perhaps she's a sensai mustachian? Trying to teach you the follies of commercial while you are still wrong and impressionable, reverse psychology at its finest!

VirginiaBob

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Re: Overheard at Work
« Reply #4737 on: October 13, 2014, 08:56:19 PM »
I wouldn't say that complaining about an HDHSA necessarily qualifies you for the Wall. If you had somewhat high medical expenses, like two kids with asthma, you might be better off with a more inclusive plan.

I've never had an HSA but I did, in one memorably year, find out I was pregnant during open enrollment (surprise!) and we upped to the all-inclusive plan for the duration, then back down to a cheaper, higher copay plan once we'd had the baby and he came out healthy.

We were actually planning on doing the hard numbers on the traditional plan vs. the HDHSA since we're hoping to be having a baby next year, but the company took the option away on that. And honestly, I think that even with high medical expenses that you know are coming that you end up pretty good with the HDP. For the highest ($3k) deductible plan it's completely FREE for just me, and only about $750 more adding my wife to the plan. The all-inclusive plans were several thousand dollars a year minimum- when it became available I just moved all of what I had been paying (and a bit more) to going into the HSA.

We have both traditional and HDHSA plans, but in our case, the HDHSA plan is an extra $60 per pay period.  The Plan does put $60 per pay check into the account, making it a wash.  I go with the traditional plan because the benefits are better.  It worked out well when the twins spent 2-1/2 months in the NICU.  About a half million dollars in charges, and I just had to pay some copays, which were less than the HDhSA copays anyways.  Not to mention the $3k deductible per person on the HDHSA plan.  will take about 4 years just to pull even with the HDHSA plan, and that is only if we don't need any other special healthcare during that time.   Just stating this example that the HDHSA plan is not always the best choice.

dragoncar

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Re: Overheard at Work
« Reply #4738 on: October 14, 2014, 12:09:09 AM »

Awn, rebs, you're such a nice guy!

I have absolutely no problem not responding to the people in the introduction thread.

I have to actively refrain from telling people in the introduction thread to go to hell.

Well, that makes me extremely glad I never posted in that thread. I wouldn't want the urge to tell people to go to hell on a daily basis.

It's more because I'm a grump than because of the people in the thread.  YMMV

edit: you know the saying: if you meet an asshole in the morning, you met an asshole.  if you meet assholes all day, you're the asshole :-P

eyePod

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Re: Overheard at Work
« Reply #4739 on: October 14, 2014, 06:42:57 AM »
I'm a huge fan of MMM, but I haven't posted on the forums before. I've barely spent any money during my life and my net worth is about 100 times the median for my age. I expect to retire by 30. I enjoy reading this thread, but there were a couple things here I have to comment on:

...she is convinced they are worthless and won't listen to any other viewpoints.  I don't like second CW as much as first CW, so I just don't bother with her, even though it bothers *me* to think that someone would just give up $15,000 because it's easier than spending three minutes clicking "cash out" on a website.

I can't imagine working with any one person, let alone multiple people, so stupid about leaving $10,000 on the table.

While I am skeptical myself about "free money" because it usually is not free, it's very strange that your co-workers don't get it about the great windfall awaiting them. Usually word-of-mouth experiences like yours carry much weight. Perhaps they are hearing the experiences of other like you who cashed in their points for crap and they saw taxes come out of their check.

I have to say that is a robust rewards point system that your place of work offer! wow!

I think he works at that factory that makes screen doors for submarines.

AMIRITE?

That made me laugh really, really hard.  Thank you.  I'm a "she," not  "he," fyi. 

Yes, these two coworkers are just extremely well-dressed and spend a lot of money.  I told CW2 that I try to be frugal, and she said that was silly, and that every time her husband tells her they should save money, she just tells him they can always make more.  It's a philosophy.  I was with her once at breakfast, and her card was declined for a $6 charge (this is a woman who makes more than $200,000 per year).  Neither one of them is very good at navigating benefits or getting the most out of what the company offers us.  CW1 actually forgot to sign up for health insurance one year -- she put it off and put it off, and then decided to sign up at night, from home, on the last day of registration, only to find that registration ended at 7pm and she was too late.  Aye yay yay.

This just blows my mind. Someone making 200k per year and the fact that they have trouble paying $6. She should be smacked. Did you end up paying for her?

The other day my credit card was declined for a ~$2 purchase of envelopes. The cause was purely bank incompetency, not a lack of funds. I'm a customer of a large number of banks in US and Canada and I can tell you that banks made errors like this all the time. Additionally, since my money is split across around 30 accounts, it wouldn't be too surprising if one day I use the wrong instrument to pay for something, giving the illusion that I no money (although I haven't actually made this mistake yet).

I just had to comment on this because it's definitely a mistaken impression to think that a declined card has anything to do with a lack of funds -- almost always, this is caused by bank error.

I don't believe what I bolded in your post. I'm going to counter your n=1 situation with my own! I have never had a transaction declined. Guess it's a draw. I'm sure it happens sometimes but CC companies seem to be very good at knowing how much money they are loaning to you since it's their own damn money.
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eyePod

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Re: Overheard at Work
« Reply #4740 on: October 14, 2014, 06:51:20 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.

Get ready for the complaints on FB after he graduates about how unfair it is that he has to pay back the loan with interest. Who has that kind of money just lying around?
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DeepEllumStache

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Re: Overheard at Work
« Reply #4741 on: October 14, 2014, 08:31:21 AM »
Rode down the elevator with another employee yesterday and we were discussing the stock market's performance.  I shrugged and said it'll come back up.  He replied that he was getting out of the market entirely since he was now at a 0% return for the year.
And a journal because I #REF occasionally

Pooperman

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Re: Overheard at Work
« Reply #4742 on: October 14, 2014, 08:47:04 AM »
Rode down the elevator with another employee yesterday and we were discussing the stock market's performance.  I shrugged and said it'll come back up.  He replied that he was getting out of the market entirely since he was now at a 0% return for the year.

I'm kindof hoping it drops a bit more/holds low for the week or so it takes until my 401k contribution comes in. I like sales, but sadly no rain checks on the market :(.

VirginiaBob

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Re: Overheard at Work
« Reply #4743 on: October 14, 2014, 09:08:51 AM »
Rode down the elevator with another employee yesterday and we were discussing the stock market's performance.  I shrugged and said it'll come back up.  He replied that he was getting out of the market entirely since he was now at a 0% return for the year.

I wouldn't be surprised if his 0% was optimistic.  Probably perpetual buy high-sell low strategy.

eyePod

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Re: Overheard at Work
« Reply #4744 on: October 14, 2014, 10:27:03 AM »
Rode down the elevator with another employee yesterday and we were discussing the stock market's performance.  I shrugged and said it'll come back up.  He replied that he was getting out of the market entirely since he was now at a 0% return for the year.

I wouldn't be surprised if his 0% was optimistic.  Probably perpetual buy high-sell low strategy.

The question is if he's going to pay transaction fees each time. That means that 0% return is a loss.....
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Pooperman

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Re: Overheard at Work
« Reply #4745 on: October 14, 2014, 10:28:32 AM »
Rode down the elevator with another employee yesterday and we were discussing the stock market's performance.  I shrugged and said it'll come back up.  He replied that he was getting out of the market entirely since he was now at a 0% return for the year.

I wouldn't be surprised if his 0% was optimistic.  Probably perpetual buy high-sell low strategy.

The question is if he's going to pay transaction fees each time. That means that 0% return is a loss.....

Subtract inflation (~2%) from that as well.

horsepoor

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Re: Overheard at Work
« Reply #4746 on: October 14, 2014, 12:17:27 PM »
Rode down the elevator with another employee yesterday and we were discussing the stock market's performance.  I shrugged and said it'll come back up.  He replied that he was getting out of the market entirely since he was now at a 0% return for the year.

Good for me, because I'm ramping my TSP contributions way, way up for the rest of the year and will be able to buy quite a few more shares.

VirginiaBob

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Re: Overheard at Work
« Reply #4747 on: October 14, 2014, 12:32:18 PM »
Rode down the elevator with another employee yesterday and we were discussing the stock market's performance.  I shrugged and said it'll come back up.  He replied that he was getting out of the market entirely since he was now at a 0% return for the year.

Good for me, because I'm ramping my TSP contributions way, way up for the rest of the year and will be able to buy quite a few more shares.

Yep me too, I was at 5% only for awhile due to medical stuff, but ramping up to $17,500 now that we are in the clear.

gimp

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Re: Overheard at Work
« Reply #4748 on: October 14, 2014, 12:44:28 PM »
My last 401k purchase was about 3 hours too early, but my small taxable contribution was at the perfect time (delayed two days, and ended up at the perfect time.) Doesn't really matter in the long run but it's nice to say 'Bullseye!'

HairyUpperLip

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Re: Overheard at Work
« Reply #4749 on: October 14, 2014, 01:05:02 PM »
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.

Get ready for the complaints on FB after he graduates about how unfair it is that he has to pay back the loan with interest. Who has that kind of money just lying around?


hahahah provably