Author Topic: Overheard at Work  (Read 5656103 times)

mm1970

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Re: Overheard at Work
« Reply #4750 on: October 14, 2014, 03:40:53 PM »
This is more of a comment of the work work work culture.
My company kind of sucks.  We haven't been doing well, are trying to get funding or get bought.  We have had rounds of layoffs, then we hire new people in at market rate, but our existing (and more useful) employees get paid peanuts.
So our morale is in the toilet.

Saw a coworker on my lunch walk - haven't seen him in awhile.  He wanted to know what I know.  I don't know anything - he works in the building with the big wigs. Well, HE thinks things are terrible, lots of closed door meetings, nobody is going to buy us, etc. etc.  Well I said "I've been job hunting, haven't found the right fit yet.  Of course, I could always stay home with the kids for a few years."

His response (same as everyone's response) "NO! Don't do it!  You will never work again!  It's impossible to find a job if you've been out of work awhile!"
Okay, well, maybe.
But so?
Work work work work.

RyanAtTanagra

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Re: Overheard at Work
« Reply #4751 on: October 14, 2014, 04:06:12 PM »
Ok, I'll add one on the other end of the spectrum to switch things up a bit.  I work with a young developer (early-mid 20s) that is frugal bordering on cheap.  He'll do things like buy a tool that he only needs once to work on his truck, use it, then return it and say it wasn't the right tool.  From what I've gathered he learned tricks like that from his dad.  The other day he took his sister out for her birthday and the tab came to over $100 and he said he started sweating.  Even though he has the money it was just painful to pay that much, even for a special occasion.  Being in SF I commend him for being thrifty, since he gets crap for it at work sometimes, but he's a reminder to me sometimes to not swing too far in the other direction.

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Re: Overheard at Work
« Reply #4752 on: October 14, 2014, 06:26:07 PM »
Ok, I'll add one on the other end of the spectrum to switch things up a bit.  I work with a young developer (early-mid 20s) that is frugal bordering on cheap.  He'll do things like buy a tool that he only needs once to work on his truck, use it, then return it and say it wasn't the right tool.  From what I've gathered he learned tricks like that from his dad.  The other day he took his sister out for her birthday and the tab came to over $100 and he said he started sweating.  Even though he has the money it was just painful to pay that much, even for a special occasion.  Being in SF I commend him for being thrifty, since he gets crap for it at work sometimes, but he's a reminder to me sometimes to not swing too far in the other direction.

yep, frugal = good; cheap = bad.  Bet he has over 20k in a cash checking account with minimal investments too :-(
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voidmain

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Re: Overheard at Work
« Reply #4753 on: October 14, 2014, 06:51:30 PM »
Ok, I'll add one on the other end of the spectrum to switch things up a bit.  I work with a young developer (early-mid 20s) that is frugal bordering on cheap.  He'll do things like buy a tool that he only needs once to work on his truck, use it, then return it and say it wasn't the right tool.  From what I've gathered he learned tricks like that from his dad.  The other day he took his sister out for her birthday and the tab came to over $100 and he said he started sweating.  Even though he has the money it was just painful to pay that much, even for a special occasion.  Being in SF I commend him for being thrifty, since he gets crap for it at work sometimes, but he's a reminder to me sometimes to not swing too far in the other direction.

I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there. $5 sure isn't gonna break the bank, but that 10-15 minutes saved isn't worth it to me vs $0 for transit (marginal cost because I already have my pass for commuting). I'm not as bad as that guy at least :)

Also, who the hell even has a truck in SF. That doesn't seem to frugal to me, I have no interest in ever having a vehicle

Dr.Vibrissae

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Re: Overheard at Work
« Reply #4754 on: October 14, 2014, 07:43:23 PM »
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.
I have to agree with Cathy.  While debit cards will get declined if you over draw, a CC is almost always declined due to some other problem (unless you are really far over the limit).  If you pay regularly, most cards will let you go slightly over the stated limit, and I've had limits raised by the company just because I was getting close every month (I always paid in full).  However I have a transaction or two declined/fail every year for problems that never have to do with funds.  It's annoying, but usually you just pay another way and call the bank to fix the issue when you get home.
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HappierAtHome

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Re: Overheard at Work
« Reply #4755 on: October 14, 2014, 08:23:26 PM »
One of my managers yesterday said "you're just not very materialistic, are you, Happier?" and meant it as a compliment :-)

She then went on to tell me that one of our colleagues lives paycheck to paycheck and has no safety net / savings... to the extent of strategically putting in her HR forms for sick leave in separate pay periods even if the days were consecutive, as she'd run out of official sick leave and couldn't afford more than one day of unpaid leave per pay period!!

The way this story was told made me think that the manager is probably fairly sensible with money given her absolute horror of living paycheck to paycheck like our colleague does.

MountainBeard

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Re: Overheard at Work
« Reply #4756 on: October 14, 2014, 08:24:44 PM »
Had an offsite work meeting last week, which most folks had to travel to.  It took two hotel vans and a personal car to shuttle folks to the office...  across the street.

Zamboni

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Re: Overheard at Work
« Reply #4757 on: October 14, 2014, 08:44:05 PM »
^Awesome.

When I have had a CC declined (which happened twice this year), it had nothing to do with funds.  It had to do with them deciding that the purchase couldn't possibly be me.  Like when I was on a business trip to another state and decided to buy a bottle of fancy tequila from an admittedly shady liquor store that the cabby recommended on our way to the airport.  Annoying, but better than identity theft, so I play along and just pull out another form of payment.

Metta

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Re: Overheard at Work
« Reply #4758 on: October 14, 2014, 08:59:41 PM »
When I have had a CC declined (which happened twice this year), it had nothing to do with funds.  It had to do with them deciding that the purchase couldn't possibly be me. 

This is almost always when it happens to me. The time when they asked me if I'd used my credit card to pay for a bunch of chocolates and a prostitute in Poland, I was simply speechless. Several witty remarks entered my head at once but the person sounded very sober and I didn't want him to think that I took Polish prostitution lightly. Or, alternatively, that I was the type of person who flew to Poland for a quickie with a prostitute (and chocolates). It did seem to demand something more than, "Nope, not mine."

I eventually tracked down why my credit card numbers kept getting stolen and used to fund illicit activities and I put an end to it. But the card companies still put a hold on my cards if the purchase seems fishy. I'm ok with it.

lizfish

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Re: Overheard at Work
« Reply #4759 on: October 15, 2014, 01:49:27 AM »

Oh and by the way, I just discovered this site a couple of weeks ago, and I just now completed all 93 pages of reading in this thread.  It was way more entertaining than anything else I was doing. :)  You guys are awesome.

I'm pretty sure there's a medal available for that. Welcome to MMM.

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Re: Overheard at Work
« Reply #4760 on: October 15, 2014, 01:53:39 AM »

A colleague replied that I should get a new Tablet pc. I replied that maybe, one day, I would want to, but would not get more value out of a new one now.

She replied "we should send you to a boot camp, to change your mind, and that you start buying more things. You should spend more money!"

Ha ha ha. They think *you're* wrong? Ooops never mind.

Bigote

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Re: Overheard at Work
« Reply #4761 on: October 15, 2014, 05:35:46 AM »
The time when they asked me if I'd used my credit card to pay for a bunch of chocolates and a prostitute in Poland, I was simply speechless.

Same thing happened to me!   Now I know to just hit the ATM at the hotel and bring lots of cash.   

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Re: Overheard at Work
« Reply #4762 on: October 15, 2014, 05:52:01 AM »
My boss was fired today.  We got paid on Monday, and we get paid 2 weeks ahead.  So my worked asked for the 2 weeks prepayment back.

My now ex-boss is refusing to give them the money back.  Considering he ate out for breakfast and lunch every day, he probably needs it.  Good for him, I guess?

VirginiaBob

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Re: Overheard at Work
« Reply #4763 on: October 15, 2014, 06:05:28 AM »
The time when they asked me if I'd used my credit card to pay for a bunch of chocolates and a prostitute in Poland, I was simply speechless.

Same thing happened to me!   Now I know to just hit the ATM at the hotel and bring lots of cash.

Lol, ATM at the hotel.  Who was the lucky lady (or guy)?

Elderwood17

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Re: Overheard at Work
« Reply #4764 on: October 15, 2014, 06:44:18 AM »
My boss was fired today.  We got paid on Monday, and we get paid 2 weeks ahead.  So my worked asked for the 2 weeks prepayment back.

My now ex-boss is refusing to give them the money back.  Considering he ate out for breakfast and lunch every day, he probably needs it.  Good for him, I guess?
You get paid ahead of time?  That's interesting.  They would never recover that money from employees at my job.

We have a major problem when people turn in their notice then run up big bills on their payroll deduction at the cafeteria.  The payroll deduct system posts what you charge one month after the charge, so people take advantage of it.  They get mailed a bill but I never stand from our HR folks they rarely collect.

Caella

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Re: Overheard at Work
« Reply #4765 on: October 15, 2014, 07:23:26 AM »
Little backstory for context:

Six months ago I changed jobs to a much more formal one.
Sure enough, I had no formal clothes at all, since I never needed them.

Having no idea at all on how to dress formal or what to buy, I asked for a coworker friend of mine for some help, and she showed me some stores and gave me some guidelines on what to buy and how to combine things. I then bought six shirts and three pants (more than enough for a week of work, wash in the weekend and use again next week).

So, yesterday she asked me (not for the first time, i must say) if I didn't want to buy new clothes again, that she would help me choose (yep, I'm TOTALLY incompetent, and if left to me I would never wear anything different than comfy tennis shoes, jeans and T-shirts).

Me: No, the clothes are good as new, there's no need for new clothes yet.
She: You need to renew your wardrobe!
Me: But the clothes aren't not even a year old, they're perfectly good!
She: And you only buy clothes when the old aren't good anymore?
Me: Obviously?! o.o

...and she stopped talking to me since then.

seanc0x0

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Re: Overheard at Work
« Reply #4766 on: October 15, 2014, 08:28:23 AM »
I've only had one credit card transaction declined, which was an expensive specialty part from a small company in the US. They weren't set up for it to be done online, and entered it at a terminal. Given that it was a $4800 hit, entered on a terminal manually in another company, I'm fine with it! I called the company and it was sorted out.

As far as travel, whenever I'm going out of the country, I call my CC company and tell them I'm travelling, and where I'll be. So far, no problems!

Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

GuitarStv

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Re: Overheard at Work
« Reply #4767 on: October 15, 2014, 08:53:26 AM »
Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

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Re: Overheard at Work
« Reply #4768 on: October 15, 2014, 09:09:17 AM »
To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

I'll say that I usually prefer putting business expenses on my rewards card, and get reimbursed within a month. It's like free money!!

That being said,  I agree it should be an option only, not required.
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seanc0x0

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Re: Overheard at Work
« Reply #4769 on: October 15, 2014, 09:13:01 AM »
To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

Never thought of that, as nowhere I've ever worked fronted travel expenses. I personally don't mind since I get cash back on my card. We do get paid promptly once the expense claim is submitted (a few days, unless there's an irregularity).

You can get a travel card, just by asking though. I've never bothered.

eyePod

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Re: Overheard at Work
« Reply #4770 on: October 15, 2014, 09:20:33 AM »
This is more of a comment of the work work work culture.
My company kind of sucks.  We haven't been doing well, are trying to get funding or get bought.  We have had rounds of layoffs, then we hire new people in at market rate, but our existing (and more useful) employees get paid peanuts.
So our morale is in the toilet.

Saw a coworker on my lunch walk - haven't seen him in awhile.  He wanted to know what I know.  I don't know anything - he works in the building with the big wigs. Well, HE thinks things are terrible, lots of closed door meetings, nobody is going to buy us, etc. etc.  Well I said "I've been job hunting, haven't found the right fit yet.  Of course, I could always stay home with the kids for a few years."

His response (same as everyone's response) "NO! Don't do it!  You will never work again!  It's impossible to find a job if you've been out of work awhile!"
Okay, well, maybe.
But so?
Work work work work.

Remember, they locked themselves into monthly payments which requires lots of cash flow!
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Fuzzy Buttons

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Re: Overheard at Work
« Reply #4771 on: October 15, 2014, 09:21:09 AM »
When I have had a CC declined (which happened twice this year), it had nothing to do with funds.  It had to do with them deciding that the purchase couldn't possibly be me.  Like when I was on a business trip to another state and decided to buy a bottle of fancy tequila from an admittedly shady liquor store that the cabby recommended on our way to the airport.  Annoying, but better than identity theft, so I play along and just pull out another form of payment.

Last year my mother's credit card was frozen after she paid for my father's funeral expenses.  Got declined later that day when she was attempting to buy some picture frames for the memorial service.  Just had to call and confirm the charge was really her, and she handled it really well.  But of all the times to have to deal with that kindof thing.  :(

eyePod

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Re: Overheard at Work
« Reply #4772 on: October 15, 2014, 09:25:32 AM »
Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

I just did the exact opposite to get the points! :-D
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klystomane

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Re: Overheard at Work
« Reply #4773 on: October 15, 2014, 09:47:53 AM »
When I have had a CC declined (which happened twice this year), it had nothing to do with funds.  It had to do with them deciding that the purchase couldn't possibly be me.  Like when I was on a business trip to another state and decided to buy a bottle of fancy tequila from an admittedly shady liquor store that the cabby recommended on our way to the airport.  Annoying, but better than identity theft, so I play along and just pull out another form of payment.

Last year my mother's credit card was frozen after she paid for my father's funeral expenses.  Got declined later that day when she was attempting to buy some picture frames for the memorial service.  Just had to call and confirm the charge was really her, and she handled it really well.  But of all the times to have to deal with that kindof thing.  :(

First off, sorry to hear of the loss of your father; I think I'll personally be a wreck when that day comes.

In all seriousness (and no offense intended to anybody), is having a funeral considered Mustachian?

Are there different levels of a Mustachian funeral like there is for a wedding? If MMM advocates no wedding ring, does he also support not having a casket?

dragoncar

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Re: Overheard at Work
« Reply #4774 on: October 15, 2014, 10:28:40 AM »

Oh and by the way, I just discovered this site a couple of weeks ago, and I just now completed all 93 pages of reading in this thread.  It was way more entertaining than anything else I was doing. :)  You guys are awesome.

I'm pretty sure there's a medal available for that. Welcome to MMM.



My boss was fired today.  We got paid on Monday, and we get paid 2 weeks ahead.  So my worked asked for the 2 weeks prepayment back.

My now ex-boss is refusing to give them the money back.  Considering he ate out for breakfast and lunch every day, he probably needs it.  Good for him, I guess?
You get paid ahead of time?  That's interesting.  They would never recover that money from employees at my job.

We have a major problem when people turn in their notice then run up big bills on their payroll deduction at the cafeteria.  The payroll deduct system posts what you charge one month after the charge, so people take advantage of it.  They get mailed a bill but I never stand from our HR folks they rarely collect.

My wife just started at a job where she gets paid monthly, after the fact.  There's an option to get an "advance" halfway through the month for 1/3 of her paycheck.  Uh, assholes that's not an "advance" that's just a regular paycheck that's 1/6 too small.  I wonder why anyone would choose NOT to take this "advance".

Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

I just did the exact opposite to get the points! :-D

I love using my card for work expenses, especially when there's 5% back on restaurants, etc.  But my office usually pays me back before the credit card due date.  I know many other people who have had problems getting their employer to pay them back on time -- not due to lack of funds, just bureaucracy.  I agree with GuitarStv that employers really SHOULD front the bill - either issue a corporate card or direct bill - at least for large expenses such as flights, hotels, car rentals, etc.
« Last Edit: October 15, 2014, 10:31:56 AM by dragoncar »

RyanAtTanagra

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Re: Overheard at Work
« Reply #4775 on: October 15, 2014, 10:33:28 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.

Also, who the hell even has a truck in SF. That doesn't seem to frugal to me, I have no interest in ever having a vehicle

Heh agreed, he says he needs it for surfing.  He's in the sunset now so it's not a big deal, but he's trying to move in further and having a hard time finding places with free/cheap parking.  I keep telling him to just get rid of it, it'll make finding a place way easier, but 'i'll never not have a car' etc.  At least it's a 10+ year old S10, but there's no frugal/non-pain-in-the-ass way to have a car in this city unless you're out far enough to have plenty of free parking.

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Re: Overheard at Work
« Reply #4776 on: October 15, 2014, 11:17:35 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?
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Re: Overheard at Work
« Reply #4777 on: October 15, 2014, 11:22:06 AM »
Quote
I've stumbled 3 miles home before and didn't even consider a cab.

The beer scooter is real, man. Three miles ain't shit when you're drunk.

seanc0x0

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Re: Overheard at Work
« Reply #4778 on: October 15, 2014, 11:29:30 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?

Maybe for you. I'd wager you're less likely to kill/maim someone else by walking drunk though.

RyanAtTanagra

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Re: Overheard at Work
« Reply #4779 on: October 15, 2014, 11:30:16 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?

http://freakonomics.com/2011/12/28/the-perils-of-drunk-walking/

I hadn't read that before.  Interesting, maybe I'll be a little quicker to grab a cab ;-)  Although it's probably harder to admit/realize you're 'too drunk to walk' than it is 'too drunk to drive'.

voidmain

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Re: Overheard at Work
« Reply #4780 on: October 15, 2014, 11:46:02 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.

Getting home when drunk > 2 miles away is about the only situation I'll ever take a cab

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Re: Overheard at Work
« Reply #4781 on: October 15, 2014, 12:27:08 PM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?

http://freakonomics.com/2011/12/28/the-perils-of-drunk-walking/

I hadn't read that before.  Interesting, maybe I'll be a little quicker to grab a cab ;-)  Although it's probably harder to admit/realize you're 'too drunk to walk' than it is 'too drunk to drive'.

My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home. 

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Re: Overheard at Work
« Reply #4782 on: October 15, 2014, 12:38:22 PM »
I have never taken a cab in Switzerland (very expensive and we have superb public transport), but I've been to plenty of places where that is the best option. That's not counting business trips when I just don't care too much about the cost.

gimp

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Re: Overheard at Work
« Reply #4783 on: October 15, 2014, 12:43:38 PM »
My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home.

Your old roommate is a cunt. :)

SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

RyanAtTanagra

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Re: Overheard at Work
« Reply #4784 on: October 15, 2014, 01:09:05 PM »
SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

People worry about that one way too much here.  I hardly ever get stabbed when walking home drunk.

Timmmy

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Re: Overheard at Work
« Reply #4785 on: October 15, 2014, 01:19:28 PM »
My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home.

Your old roommate is a cunt. :)

SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

Taking this way off topic but he came home one time absolutely piss drunk all pissed off.  It took me several minutes to calm him down and figure out what was going on.  Turns out he got stopped by the police for turning left out of the bar parking lot when it was posted right turn only.  They gave him a ticket for, wait for it...  "Disobeying a traffic control device"

dragoncar

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Re: Overheard at Work
« Reply #4786 on: October 15, 2014, 02:28:44 PM »
My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home.

Your old roommate is a cunt. :)

SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

Taking this way off topic but he came home one time absolutely piss drunk all pissed off.  It took me several minutes to calm him down and figure out what was going on.  Turns out he got stopped by the police for turning left out of the bar parking lot when it was posted right turn only.  They gave him a ticket for, wait for it...  "Disobeying a traffic control device"

I was almost run over by a garbage truck going the wrong way down a one-way street while running a red light.  But at least I wasn't drunk.

trailrated

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Re: Overheard at Work
« Reply #4787 on: October 15, 2014, 02:41:19 PM »
SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

People worry about that one way too much here.  I hardly ever get stabbed when walking home drunk.

Ahahahaha that made my day
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manonfire1007

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Re: Overheard at Work
« Reply #4788 on: October 16, 2014, 01:13:28 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

Melody

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Re: Overheard at Work
« Reply #4789 on: October 16, 2014, 06:29:59 AM »
Well I guess youn dont work with any sensible doctors because at half a mil a year they're all retired ;)
Had a great overheard a work today... coworker needed to go to the pysio because his kneemwas causing him problems but couldn't afford to go because he had no sick leave left. I wasn't sure what was worse... we get 10 sick days a year and they accumulate indefinitely,  so I can barely comprehend how they would run out, or not being able to loose 5% of your monthly pay cheque!

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Re: Overheard at Work
« Reply #4790 on: October 16, 2014, 07:38:16 AM »
Some of the doctors could be holding onto their mortgages strategically if they got a really low interest rate.  If they don't mind the additional risk, holding a 3% mortgage while investing in the stock market could yield them a much better return.
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Rollin

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Re: Overheard at Work
« Reply #4791 on: October 16, 2014, 08:06:02 AM »
Had an offsite work meeting last week, which most folks had to travel to.  It took two hotel vans and a personal car to shuttle folks to the office...  across the street.

Incredible.

Was that due to their sloth, perception of poor safety, or bad land use/pedestrian planning?
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Rollin

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Re: Overheard at Work
« Reply #4792 on: October 16, 2014, 08:10:30 AM »
Put to prevent this thread from getting too foamy,  here's something on topic.

+1  - that works!
I love being outside.

dragoncar

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Re: Overheard at Work
« Reply #4793 on: October 16, 2014, 09:19:32 AM »
Some of the doctors could be holding onto their mortgages strategically if they got a really low interest rate.  If they don't mind the additional risk, holding a 3% mortgage while investing in the stock market could yield them a much better return.

They could be, but doctors are notoriously bad with money.  There must be something about living like a pauper into your late 20s/early 30s before making a shit ton

Cheddar Stacker

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Re: Overheard at Work
« Reply #4794 on: October 16, 2014, 09:36:17 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.
Indecision may or may not be my problem.

boarder42

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Re: Overheard at Work
« Reply #4795 on: October 16, 2014, 09:49:31 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.

Yeah having a house paid off isn't a necessity esp. at today's interest rates.  I would argue it would take you longer to reach FI if you paid off your house vs. investing the money.  (and based on historical avg's i'd win)
PM me about how to save 6% on your annual grocery Bill!

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Pooperman

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Re: Overheard at Work
« Reply #4796 on: October 16, 2014, 09:55:56 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.

Yeah having a house paid off isn't a necessity esp. at today's interest rates.  I would argue it would take you longer to reach FI if you paid off your house vs. investing the money.  (and based on historical avg's i'd win)

If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

dragoncar

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Re: Overheard at Work
« Reply #4797 on: October 16, 2014, 10:07:29 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.

Yeah having a house paid off isn't a necessity esp. at today's interest rates.  I would argue it would take you longer to reach FI if you paid off your house vs. investing the money.  (and based on historical avg's i'd win)

If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

Or just simulate your mortgage payment ending partway into retirement.  I think cfiresim has this option

Cheddar Stacker

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Re: Overheard at Work
« Reply #4798 on: October 16, 2014, 10:07:44 AM »
If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

I think I get what you're saying but there are ways around "over-saving". Example:

Annual spend without mortgage = $40,000
Annual spend with mortgage = $50,000
Years left on mortgage = 8
Stache needed to cover FI today using exactly a 4% SWR = $1,080,000 ($1M + excess cash needed ($10K) for 8 years)

If you can calculate this and everything else makes sense, you've saved exactly what you need, no under or over saving, and you still have a mortgage into FIRE.
Indecision may or may not be my problem.

lifejoy

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Re: Overheard at Work
« Reply #4799 on: October 16, 2014, 10:49:04 AM »

If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

I think I get what you're saying but there are ways around "over-saving". Example:

Annual spend without mortgage = $40,000
Annual spend with mortgage = $50,000
Years left on mortgage = 8
Stache needed to cover FI today using exactly a 4% SWR = $1,080,000 ($1M + excess cash needed ($10K) for 8 years)

If you can calculate this and everything else makes sense, you've saved exactly what you need, no under or over saving, and you still have a mortgage into FIRE.

Question: say you're strategically hanging on to your mortgage. Then you get sick and can't work anymore. Would that make you wish you had paid off the house?