Author Topic: Overheard at Work 2  (Read 545173 times)

Taran Wanderer

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Re: Overheard at Work 2
« Reply #2500 on: May 19, 2020, 09:09:00 PM »
Most people that I work with have no idea the basic way that investing in a 401k or investing in general works. Here is the short version of the conversation the other day.

Co-worker: I got out after losing 5k in March and no longer put anything into my 401k.
Me: I stayed in, kept my paycheck 401k deduction the same, and I am back up to where I was before the market started to tank in late Feb.

I’ve had the same conversation in the past. It makes me want to slam my head against the wall.

Sugaree

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Re: Overheard at Work 2
« Reply #2501 on: May 20, 2020, 07:30:50 AM »
Most people that I work with have no idea the basic way that investing in a 401k or investing in general works. Here is the short version of the conversation the other day.

Co-worker: I got out after losing 5k in March and no longer put anything into my 401k.
Me: I stayed in, kept my paycheck 401k deduction the same, and I am back up to where I was before the market started to tank in late Feb.

I’ve had the same conversation in the past. It makes me want to slam my head against the wall.

At this point my standard reply for everyone except my closest coworkers who know better is "Oh, I haven't really been paying attention." 

Sugaree

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Re: Overheard at Work 2
« Reply #2502 on: May 27, 2020, 12:33:55 PM »
Coworker just told us that his wife just traded her less-than-two-year-old Google Pixel 3 for a Samsung s20. 

Travis

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Re: Overheard at Work 2
« Reply #2503 on: May 27, 2020, 06:10:01 PM »
Coworker just told us that his wife just traded her less-than-two-year-old Google Pixel 3 for a Samsung s20.

Wait, they're up to 20 now? I just replaced DW's S5.

zolotiyeruki

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Re: Overheard at Work 2
« Reply #2504 on: May 27, 2020, 06:50:59 PM »
Coworker just told us that his wife just traded her less-than-two-year-old Google Pixel 3 for a Samsung s20.

Wait, they're up to 20 now? I just replaced DW's S5.
I think they skipped from S10 to S20.  Dunno what was wrong with S11.

LWYRUP

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Re: Overheard at Work 2
« Reply #2505 on: May 27, 2020, 06:52:35 PM »
Coworker just told us that his wife just traded her less-than-two-year-old Google Pixel 3 for a Samsung s20.

Wait, they're up to 20 now? I just replaced DW's S5.
I think they skipped from S10 to S20.  Dunno what was wrong with S11.

I'm guessing they might be starting to just go with "model years."  Like "this is the new 2027 Samsung" like cars.  Honestly, it would keep things simple. 

Step37

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Re: Overheard at Work 2
« Reply #2506 on: May 28, 2020, 08:08:13 AM »
Coworker just told us that his wife just traded her less-than-two-year-old Google Pixel 3 for a Samsung s20.

Wait, they're up to 20 now? I just replaced DW's S5.
I think they skipped from S10 to S20.  Dunno what was wrong with S11.

I'm guessing they might be starting to just go with "model years."  Like "this is the new 2027 Samsung" like cars.  Honestly, it would keep things simple.

Or maybe a combination of that and trying to make people think they’re ten models behind so they “must” upgrade!

talltexan

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Re: Overheard at Work 2
« Reply #2507 on: June 05, 2020, 08:17:42 AM »
I've spent a few years working with a "Spendy" co-worker. Leases cars, arranges for professional photo-shoots in foreign cities, etc. She recently started a new relationship, and I thought this new bf would have a good influence on her because he talks a lot about Dave Ramsey.

Well, Wednesday of this week, she tells me that boyfriend wants to get a motor home. They're quarantining together, and he sees right now as a "once in a lifetime" opportunity to work (remotely) while on the road. But to get the cash to pull off this deal, he's planning to borrow against his 401(K). She texted me a picture of the trailer.

On Thursday--literally the day after he bought the camper--boyfriend learned that he was being switched to hourly pay "without commission". He's heard about other situations where that's a prelude to job separation, which would make that 401(K) loan...awkward.

jps

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Re: Overheard at Work 2
« Reply #2508 on: June 05, 2020, 09:19:23 AM »
On Thursday--literally the day after he bought the camper--boyfriend learned that he was being switched to hourly pay "without commission". He's heard about other situations where that's a prelude to job separation, which would make that 401(K) loan...awkward.

Ouch, that has to hurt. Even if he keeps his job, it doesn't seem like he's following Ramsey principles, so I wouldn't expect him to have too much of a positive influence on your co-worker.. Hopefully it will go better for them than it seems like it's going right now.

ducky19

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Re: Overheard at Work 2
« Reply #2509 on: June 05, 2020, 11:51:12 AM »
On Thursday--literally the day after he bought the camper--boyfriend learned that he was being switched to hourly pay "without commission". He's heard about other situations where that's a prelude to job separation, which would make that 401(K) loan...awkward.

Ouch, that has to hurt. Even if he keeps his job, it doesn't seem like he's following Ramsey principles, so I wouldn't expect him to have too much of a positive influence on your co-worker.. Hopefully it will go better for them than it seems like it's going right now.

Funny thing, influence... it works both ways sometimes.

EricEng

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Re: Overheard at Work 2
« Reply #2510 on: June 05, 2020, 03:38:47 PM »
Coworker just told us that his wife just traded her less-than-two-year-old Google Pixel 3 for a Samsung s20.

Wait, they're up to 20 now? I just replaced DW's S5.
I think they skipped from S10 to S20.  Dunno what was wrong with S11.

I'm guessing they might be starting to just go with "model years."  Like "this is the new 2027 Samsung" like cars.  Honestly, it would keep things simple.
Except they had been releasing new version every 6-8 months, so they were catching up.  Now they'll end up ahead.  If the next is S30 I'm going to be really annoyed.  Nvidia did same thing with video cards going from GTX 500,600,700,800m,900,1000, then 2000...I think there might be some unlucky numbers or something in the 11-19 range for Asian cultures?  I love intuitive naming schemes that stick around for many years.

TheGrimSqueaker

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Re: Overheard at Work 2
« Reply #2511 on: June 08, 2020, 08:55:18 AM »
I've spent a few years working with a "Spendy" co-worker. Leases cars, arranges for professional photo-shoots in foreign cities, etc. She recently started a new relationship, and I thought this new bf would have a good influence on her because he talks a lot about Dave Ramsey.

Well, Wednesday of this week, she tells me that boyfriend wants to get a motor home. They're quarantining together, and he sees right now as a "once in a lifetime" opportunity to work (remotely) while on the road. But to get the cash to pull off this deal, he's planning to borrow against his 401(K). She texted me a picture of the trailer.

On Thursday--literally the day after he bought the camper--boyfriend learned that he was being switched to hourly pay "without commission". He's heard about other situations where that's a prelude to job separation, which would make that 401(K) loan...awkward.

Hopefully he's in a state that allows a "cool-off" period after major purchases.

talltexan

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Re: Overheard at Work 2
« Reply #2512 on: June 08, 2020, 11:51:45 AM »
Just traded communications, and it sounds like he's planning to keep the camper.

ixtap

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Re: Overheard at Work 2
« Reply #2513 on: June 08, 2020, 12:51:24 PM »
Just traded communications, and it sounds like he's planning to keep the camper.

I'm sure he deserves it, with the extra stress. /Sarcasm

facepalm

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Re: Overheard at Work 2
« Reply #2514 on: June 09, 2020, 07:43:36 AM »
Just traded communications, and it sounds like he's planning to keep the camper.
I had a co-worker tell me that she and her family were planning on buying a motorhome. Internally I cried a bit, but gave her the Thumbsup because I knew it wouldn't matter.

I have stopped telling co-workers that if our employer pulls any more shit "I'm gonna retire." Tired of having people argue that it's impossible.

Freedomin5

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Re: Overheard at Work 2
« Reply #2515 on: June 10, 2020, 05:14:13 AM »
Due to travel bans, many of my expat coworkers have not been able to return to China. I found out today that some of them continue to:

- Run their AC and dehumidifier 24/7 = $200/month
- Pay their ayi to air out the house and dust and empty the dehumidifier = $1000/month


They are paying $1200/month to basically prevent mold from forming. The local way of preventing mold is to open all the windows to create air circulation. The day before you return, you send the ayi to do a full wipe down/cleaning. If you want to keep ayi employed out of compassion, you send ayi in everyday to clean and air things out, and you save yourself $200/month in electricity costs to cool an empty apartment.

Freedomin5

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Re: Overheard at Work 2
« Reply #2516 on: June 10, 2020, 05:16:46 AM »
I was chatting with another ayi today who said the family she works for often buys very expensive groceries from the expat market, spending around $200 each time and purchasing several times per week. She then said that often, things will go bad and her job often entails cleaning out the fridge and throwing away things that have gone bad.

LennStar

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Re: Overheard at Work 2
« Reply #2517 on: June 10, 2020, 05:47:26 AM »
I was chatting with another ayi today who said the family she works for often buys very expensive groceries from the expat market, spending around $200 each time and purchasing several times per week. She then said that often, things will go bad and her job often entails cleaning out the fridge and throwing away things that have gone bad.
That is one of the things I can never wrap my head around. WTH buy so much you are in constant danger of having to throw away things? Especially if you go shopping several times anyway.

I mean it can happen with some small rests of fresh produce or mini-leftovers where you don't find a reasonable way to use it, but I doubt that is meant.

Freedomin5

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Re: Overheard at Work 2
« Reply #2518 on: June 10, 2020, 06:38:31 AM »
I was chatting with another ayi today who said the family she works for often buys very expensive groceries from the expat market, spending around $200 each time and purchasing several times per week. She then said that often, things will go bad and her job often entails cleaning out the fridge and throwing away things that have gone bad.
That is one of the things I can never wrap my head around. WTH buy so much you are in constant danger of having to throw away things? Especially if you go shopping several times anyway.

I mean it can happen with some small rests of fresh produce or mini-leftovers where you don't find a reasonable way to use it, but I doubt that is meant.

Oh, they don’t GO shopping. They pay a delivery fee to have the premium, imported groceries delivered to their door, and then they eventually let the food rot in the fridge.

AMandM

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Re: Overheard at Work 2
« Reply #2519 on: June 10, 2020, 10:11:19 AM »
I was chatting with another ayi today who said the family she works for often buys very expensive groceries from the expat market, spending around $200 each time and purchasing several times per week. She then said that often, things will go bad and her job often entails cleaning out the fridge and throwing away things that have gone bad.
That is one of the things I can never wrap my head around. WTH buy so much you are in constant danger of having to throw away things? Especially if you go shopping several times anyway.

I mean it can happen with some small rests of fresh produce or mini-leftovers where you don't find a reasonable way to use it, but I doubt that is meant.

Oh, they don’t GO shopping. They pay a delivery fee to have the premium, imported groceries delivered to their door, and then they eventually let the food rot in the fridge.

I am truly fascinated by this. What is going through their minds as they make these purchases?? Do they simply forget that they have food in the fridge already? Do they not know that food goes bad? Do they think, "Oh, I don't feel like eating that, so I'll buy something else" and they just don't care that they're wasting food & money?

Just Joe

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Re: Overheard at Work 2
« Reply #2520 on: June 10, 2020, 01:04:27 PM »
Just traded communications, and it sounds like he's planning to keep the camper.

Maybe he can live in it. Sell his house or move out of his apartment whatever the case... ;)

Re: dehumidifier. Some have internal pumps and empty themselves automatically if placed near a floor drain or sink.

I'd like to think they are being kind and employing their housekeeper out of compassion and loyalty.
« Last Edit: June 10, 2020, 01:07:13 PM by Just Joe »

ixtap

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Re: Overheard at Work 2
« Reply #2521 on: June 10, 2020, 01:10:28 PM »
Ayi wages have improved since I was last in China! Glad to hear it.

MrTurtle

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Re: Overheard at Work 2
« Reply #2522 on: June 10, 2020, 06:24:52 PM »
Years ago, when I was learning my first big boy job, a project manager was coaching me on a bad habit I had at the time.

PM: (Bad habit) is like going shopping, when you don't know what your credit limit is.  You wouldn't do that, would you?
Me: What's a credit limit? (Asking honestly, I was young and didn't know things)
PM: WHAT?  You ACTUALLY don't know your credit limit?
Me (concerned): Uhhh, no...is that important?

Then he told me all about how credit cards work and how important it is to find out my credit limit RIGHT NOW and make sure I never go over the limit on my credit card, or something REALLY BAD will happen.  When I got back to my desk, I frantically checked my bank account online and couldn't find this credit limit thing anywhere so I called their customer service, where a nice lady patiently explained to clueless me that my debit card is not the same thing as a credit card.

Sibley

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Re: Overheard at Work 2
« Reply #2523 on: June 10, 2020, 07:55:11 PM »
Years ago, when I was learning my first big boy job, a project manager was coaching me on a bad habit I had at the time.

PM: (Bad habit) is like going shopping, when you don't know what your credit limit is.  You wouldn't do that, would you?
Me: What's a credit limit? (Asking honestly, I was young and didn't know things)
PM: WHAT?  You ACTUALLY don't know your credit limit?
Me (concerned): Uhhh, no...is that important?

Then he told me all about how credit cards work and how important it is to find out my credit limit RIGHT NOW and make sure I never go over the limit on my credit card, or something REALLY BAD will happen.  When I got back to my desk, I frantically checked my bank account online and couldn't find this credit limit thing anywhere so I called their customer service, where a nice lady patiently explained to clueless me that my debit card is not the same thing as a credit card.

LOL. Thanks for the laugh! It's ok, everyone starts out not knowing things. You clearly learned.

LennStar

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Re: Overheard at Work 2
« Reply #2524 on: June 11, 2020, 04:56:04 AM »
Years ago, when I was learning my first big boy job, a project manager was coaching me on a bad habit I had at the time.

PM: (Bad habit) is like going shopping, when you don't know what your credit limit is.  You wouldn't do that, would you?
Me: What's a credit limit? (Asking honestly, I was young and didn't know things)
PM: WHAT?  You ACTUALLY don't know your credit limit?
Me (concerned): Uhhh, no...is that important?

Then he told me all about how credit cards work and how important it is to find out my credit limit RIGHT NOW and make sure I never go over the limit on my credit card, or something REALLY BAD will happen.  When I got back to my desk, I frantically checked my bank account online and couldn't find this credit limit thing anywhere so I called their customer service, where a nice lady patiently explained to clueless me that my debit card is not the same thing as a credit card.

LOL. Thanks for the laugh! It's ok, everyone starts out not knowing things. You clearly learned.

Now imagine those lady having to do a talk like this ten times a day. Could make you lose all faith in humanity ;)

dragoncar

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Re: Overheard at Work 2
« Reply #2525 on: June 11, 2020, 12:35:42 PM »
Most debit cards do have daily spending limits, which is definitely something you would need to know before going shopping or REALLY BAD THINGS HAPPEN.  Ok I guess you just get declined.  But you need to know your account balance or REALLY BAD THINGS HAPPEN like overdraft fees

eyesonthehorizon

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Re: Overheard at Work 2
« Reply #2526 on: June 13, 2020, 08:18:55 PM »
Years ago, when I was learning my first big boy job, a project manager was coaching me on a bad habit I had at the time.

PM: (Bad habit) is like going shopping, when you don't know what your credit limit is.  You wouldn't do that, would you?
Me: What's a credit limit? (Asking honestly, I was young and didn't know things)
PM: WHAT?  You ACTUALLY don't know your credit limit?
Me (concerned): Uhhh, no...is that important?

Then he told me all about how credit cards work and how important it is to find out my credit limit RIGHT NOW and make sure I never go over the limit on my credit card, or something REALLY BAD will happen.  When I got back to my desk, I frantically checked my bank account online and couldn't find this credit limit thing anywhere so I called their customer service, where a nice lady patiently explained to clueless me that my debit card is not the same thing as a credit card.

LOL. Thanks for the laugh! It's ok, everyone starts out not knowing things. You clearly learned.

Now imagine those lady having to do a talk like this ten times a day. Could make you lose all faith in humanity ;)
I've been that lady. Honestly as long as the caller didn't start screaming, I was happy to have that conversation all day long. The ones that make you lose faith in humanity are the ones who cannot take in new information and get abusive when you refuse to answer an illogical either-or question as a binary, e.g. following up an explanation of credit vs. debit with "You're either incompetent or a criminal, you can't or won't answer basic questions, DO YOU KNOW MY DEBIT CARD'S CREDIT LIMIT, YES or NO?" Bonus points if they're in some kind of prestige profession that would normally imply a functioning intellect.

Apologies to anybody who's worked phone service and just mentally flashed back through a montage of reasons you wanted to FIRE.

Valley of Plenty

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Re: Overheard at Work 2
« Reply #2527 on: June 14, 2020, 12:55:28 AM »
The other day at work a coworker was sharing his story about how he somehow ended up paying some random stranger's phone bill; $50/month every month for 3 years before he noticed.

Everyone laughed about it and seemed to completely understand how easily someone could overlook a $50 monthly charge. I wonder how many people have hundreds or thousands of dollars a year draining out of their bank accounts to pay for services they don't even use, that they don't even realize they're paying for?

Feivel2000

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Re: Overheard at Work 2
« Reply #2528 on: June 14, 2020, 01:00:58 AM »
"You're either incompetent or a criminal, you can't or won't answer basic questions, DO YOU KNOW MY DEBIT CARD'S CREDIT LIMIT, YES or NO?"

Wouldn't that be simply the credit limit of the underlying bank account?

Tinker

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Re: Overheard at Work 2
« Reply #2529 on: June 14, 2020, 01:14:45 AM »
I got read in to one where there was one place, and one place only, a very special place, where you could talk about it.  Say one word about it anywhere else and you were violating security.

I also have a few stories that I can never tell.  Fun stuff. 

Well, it can be.

In Germany if Representatives want to look at the top secret stuff, there is a special room. Nothign is allowed, no phone, no pencil. Eyes only in the literal sense. And of course they are not allowed to talk about what they read. And still have to judge and make laws based on this...

Anyway, there is of course also a watch person. And nothing else. And this person can kick you out of the room if he says you are not following the rules.
If you ever thought you, the voter, through your representatives, are the souvereign, then remember that there is a person who can stop everyone accessing material about life threatening dangers.
Heute Show did a skit on that during the TTIP news cycle https://www.youtube.com/watch?v=Ud6H5NhTFvg
(the auto-generated english subtitles are Denglisch in places but reasonably accurate)
« Last Edit: June 14, 2020, 01:17:06 AM by Tinker »

dragoncar

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Re: Overheard at Work 2
« Reply #2530 on: June 14, 2020, 02:12:19 AM »
"You're either incompetent or a criminal, you can't or won't answer basic questions, DO YOU KNOW MY DEBIT CARD'S CREDIT LIMIT, YES or NO?"

Wouldn't that be simply the credit limit of the underlying bank account?

The answer is probably 0.  No credit will be issued.  But potentially the bank allows overdrafts and the overdraft limit could be considered a credit limit.  But I'd just stick with 0.

On the other hand, Amex says they don't have credit limits.  They evaluate every purchase for an approval decision.  I'm sure they have some back-end metric that is a maximum allowable charge, but no rep will give that to you (you can, however, enter an amount you wish to charge on the website and it will give you a non-binding approval/denial).

AnnaGrowsAMustache

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Re: Overheard at Work 2
« Reply #2531 on: June 14, 2020, 01:02:55 PM »
So today I heard that car parks in the area that I park in for work can be rented for $90 per month. A few of my colleagues have taken up this offer. The car parking area isn't large - from the very back of the lot to the front door of my workplace is about 2 minutes walk, max. The carparks near the workplace building are all reserved, and the $90 per month buys you one of those. However..... the carparks at the back of the lot aren't assigned to any building and are all freeeeeee...........


Feivel2000

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Re: Overheard at Work 2
« Reply #2532 on: June 14, 2020, 02:34:59 PM »
The answer is probably 0.  No credit will be issued.  But potentially the bank allows overdrafts and the overdraft limit could be considered a credit limit.  But I'd just stick with 0.

Really? In Germany (where CC usage is pretty low, compared to the US, but we are catching up), giro accounts (checking accounts) are very common to come with a line of credit, the so called Dispokredit. leo translates this to overdraft.

But it is definitely considered as credit. The interest is of course high (but with ~10% p.a. more reasonable than some credit cards).

prudent_one

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Re: Overheard at Work 2
« Reply #2533 on: June 14, 2020, 03:46:01 PM »
So today I heard that car parks in the area that I park in for work can be rented for $90 per month. A few of my colleagues have taken up this offer. The car parking area isn't large - from the very back of the lot to the front door of my workplace is about 2 minutes walk, max. The carparks near the workplace building are all reserved, and the $90 per month buys you one of those. However..... the carparks at the back of the lot aren't assigned to any building and are all freeeeeee...........

By my calculations, they are valuing their time at around $60/hour to save that short walk.  Nuts.

Salivanth

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Re: Overheard at Work 2
« Reply #2534 on: June 16, 2020, 02:30:11 AM »
So today I heard that car parks in the area that I park in for work can be rented for $90 per month. A few of my colleagues have taken up this offer. The car parking area isn't large - from the very back of the lot to the front door of my workplace is about 2 minutes walk, max. The carparks near the workplace building are all reserved, and the $90 per month buys you one of those. However..... the carparks at the back of the lot aren't assigned to any building and are all freeeeeee...........

By my calculations, they are valuing their time at around $60/hour to save that short walk.  Nuts.

And income gets taxed, and expenses come after taxes.

Plus it's physical exercise, so that "costs" half the time in my book.

Mairuiming

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Re: Overheard at Work 2
« Reply #2535 on: June 21, 2020, 09:54:13 AM »
Due to travel bans, many of my expat coworkers have not been able to return to China. I found out today that some of them continue to:

- Run their AC and dehumidifier 24/7 = $200/month
- Pay their ayi to air out the house and dust and empty the dehumidifier = $1000/month


They are paying $1200/month to basically prevent mold from forming. The local way of preventing mold is to open all the windows to create air circulation. The day before you return, you send the ayi to do a full wipe down/cleaning. If you want to keep ayi employed out of compassion, you send ayi in everyday to clean and air things out, and you save yourself $200/month in electricity costs to cool an empty apartment.

I am sure my house will be a mess when I return.
Closed all windows, switched off power supply (except for refrigerator) as I left China for a 1 week vacation in mid-Jan.
5 months later, there are no signs of international flights starting from India.

I hope Covid situation in India will improve in Q4 2020.

Freedomin5

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Re: Overheard at Work 2
« Reply #2536 on: June 21, 2020, 04:08:51 PM »
Due to travel bans, many of my expat coworkers have not been able to return to China. I found out today that some of them continue to:

- Run their AC and dehumidifier 24/7 = $200/month
- Pay their ayi to air out the house and dust and empty the dehumidifier = $1000/month


They are paying $1200/month to basically prevent mold from forming. The local way of preventing mold is to open all the windows to create air circulation. The day before you return, you send the ayi to do a full wipe down/cleaning. If you want to keep ayi employed out of compassion, you send ayi in everyday to clean and air things out, and you save yourself $200/month in electricity costs to cool an empty apartment.

I am sure my house will be a mess when I return.
Closed all windows, switched off power supply (except for refrigerator) as I left China for a 1 week vacation in mid-Jan.
5 months later, there are no signs of international flights starting from India.

I hope Covid situation in India will improve in Q4 2020.

Yikes. I just checked and there are flights in August flying to China from Mumbai with a layover in Japan. Most of the expats returning home after their contracts ended have been routed through multiple cities.

In other related anti-Mustachian news, several expats here have decided to charter their own plane to fly themselves and their families back to the states next month, as they have been unable to find commercial flights. The word on the street is that tickets will cost somewhere between $2K-$10k per person. It’s nice when you have money.

Mairuiming

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Re: Overheard at Work 2
« Reply #2537 on: June 21, 2020, 11:46:13 PM »
Yikes. I just checked and there are flights in August flying to China from Mumbai with a layover in Japan. Most of the expats returning home after their contracts ended have been routed through multiple cities.

Airlines are taking bookings without any visibility when government will allow flights to be operational. When date of flight approach, airlines hand out a coupon saying you can travel on the said ticket anytime during the next 1 year (of course if price at that moment is higher you have to pay the difference, if price is lower you won't receive a refund). Few activists approached court and court advised airlines to extend coupon validity from 1 year to 2 years.
In Feb, I booked a crazy connecting flight flying through India-Sri Lanka-Malaysia-Hong Kong-China. Whenever flights are operational either I have to take this back breaking journey or say goodbye to USD 250 ticket. (most likely the latter)

In other related anti-Mustachian news, several expats here have decided to charter their own plane to fly themselves and their families back to the states next month, as they have been unable to find commercial flights. The word on the street is that tickets will cost somewhere between $2K-$10k per person. It’s nice when you have money.

Perhaps ticket cost is paid by their employer.

Several employers have an exorbitant support package for expats in China.

My employer provides following perks for expats in China (unfortunately I am a local hire with no benefits):

1. Rent is covered by employer. One can choose a house with bedrooms equal to number of family members plus one. My expat supervisor lives on an island. Employer pays rent USD ~55k per year.
2. Company car with a driver (USD ~40k per year)
3. Child education paid for in an international school (USD ~35k per year per child)
4. International health insurance (USD ~3k per year per family member)
5. One return ticket per year for entire family (most expats avail this benefit to return home during festive season)
6. 30 paid leaves per year additional to China statutory requirement

Kudos to you if you are an expat in China.

If house rent, commute, child education and health insurance is paid for, one can easily save 90+% of salary and give FIRE a solid boost.

Mairuiming

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Re: Overheard at Work 2
« Reply #2538 on: June 28, 2020, 09:40:55 PM »
Due to travel bans, many of my expat coworkers have not been able to return to China. I found out today that some of them continue to:

- Run their AC and dehumidifier 24/7 = $200/month
- Pay their ayi to air out the house and dust and empty the dehumidifier = $1000/month


They are paying $1200/month to basically prevent mold from forming. The local way of preventing mold is to open all the windows to create air circulation. The day before you return, you send the ayi to do a full wipe down/cleaning. If you want to keep ayi employed out of compassion, you send ayi in everyday to clean and air things out, and you save yourself $200/month in electricity costs to cool an empty apartment.

I am sure my house will be a mess when I return.
Closed all windows, switched off power supply (except for refrigerator) as I left China for a 1 week vacation in mid-Jan.
5 months later, there are no signs of international flights starting from India.

I hope Covid situation in India will improve in Q4 2020.

Yikes. I just checked and there are flights in August flying to China from Mumbai with a layover in Japan. Most of the expats returning home after their contracts ended have been routed through multiple cities.

In other related anti-Mustachian news, several expats here have decided to charter their own plane to fly themselves and their families back to the states next month, as they have been unable to find commercial flights. The word on the street is that tickets will cost somewhere between $2K-$10k per person. It’s nice when you have money.

It seems I managed to kill this thread with too much information.

Freedomin5

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Re: Overheard at Work 2
« Reply #2539 on: June 28, 2020, 10:16:22 PM »
Or maybe everyone has been WFH and hasn't heard any good "Overheard at Work" stories lately.

I have one that happened last week. Some of my coworkers are organizing fun activities for expats who are staying in China over the summer. One of these activities is a tour of breakfast foods in Shanghai. A quick search online shows that the price per person for the tour is USD$75. They take you to try 10 different breakfast foods -- all of which I've tried already from the side of the street as they make great grab-and-go breakfast foods. However, the foods in total cost at most ~USD$15, even when you buy them from the priciest neighborhood in Shanghai.

I think I will be skipping this tour.

LennStar

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Re: Overheard at Work 2
« Reply #2540 on: June 29, 2020, 02:44:18 AM »
Or maybe everyone has been WFH and hasn't heard any good "Overheard at Work" stories lately.

I have one that happened last week. Some of my coworkers are organizing fun activities for expats who are staying in China over the summer. One of these activities is a tour of breakfast foods in Shanghai. A quick search online shows that the price per person for the tour is USD$75. They take you to try 10 different breakfast foods -- all of which I've tried already from the side of the street as they make great grab-and-go breakfast foods. However, the foods in total cost at most ~USD$15, even when you buy them from the priciest neighborhood in Shanghai.

I think I will be skipping this tour.

I don't think the point of the tour is to get your belly filled.
Still that is a lot of money.

Regarding the overheard: Yes, I think so many are working in the home office that a lot is talked about. Like how super cheap that car on sale was, so I just got two in case one breaks down.

lemanfan

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Re: Overheard at Work 2
« Reply #2541 on: June 29, 2020, 02:58:11 AM »
May I bend the rules and talk about a neighbor of my parents?

Due to the restrictions, a retired neighbor of my parents said "It's weird with this isolation - I have so much money left each month.  I don't know what to do?  Should I give it away?".


Fomerly known as something

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Re: Overheard at Work 2
« Reply #2542 on: June 29, 2020, 05:39:49 AM »
Well one of my coworkers just bought a used porches because it was a good deal at $28,000.  And granted for the car it was a “good deal“ but they already have 4 cars for 4 people.

talltexan

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Re: Overheard at Work 2
« Reply #2543 on: June 29, 2020, 06:42:06 AM »
It'd be interesting to see that driveway.

markbike528CBX

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Re: Overheard at Work 2
« Reply #2544 on: June 29, 2020, 03:00:25 PM »
Well one of my coworkers just bought a used porches because it was a good deal at $28,000.  And granted for the car it was a “good deal“ but they already have 4 cars for 4 people.

Are they going to park the Porsche on one of the porches?   (ducks and rolls....... )

I'm not normally a grammar nazi, honest, but I do one an example of a fine piece of Finnish car-making, a Porsche Boxster from Uusikaupunki .

ysette9

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Re: Overheard at Work 2
« Reply #2545 on: June 29, 2020, 03:21:50 PM »
Yikes. I just checked and there are flights in August flying to China from Mumbai with a layover in Japan. Most of the expats returning home after their contracts ended have been routed through multiple cities.

Airlines are taking bookings without any visibility when government will allow flights to be operational. When date of flight approach, airlines hand out a coupon saying you can travel on the said ticket anytime during the next 1 year (of course if price at that moment is higher you have to pay the difference, if price is lower you won't receive a refund). Few activists approached court and court advised airlines to extend coupon validity from 1 year to 2 years.
In Feb, I booked a crazy connecting flight flying through India-Sri Lanka-Malaysia-Hong Kong-China. Whenever flights are operational either I have to take this back breaking journey or say goodbye to USD 250 ticket. (most likely the latter)

In other related anti-Mustachian news, several expats here have decided to charter their own plane to fly themselves and their families back to the states next month, as they have been unable to find commercial flights. The word on the street is that tickets will cost somewhere between $2K-$10k per person. It’s nice when you have money.

Perhaps ticket cost is paid by their employer.

Several employers have an exorbitant support package for expats in China.

My employer provides following perks for expats in China (unfortunately I am a local hire with no benefits):

1. Rent is covered by employer. One can choose a house with bedrooms equal to number of family members plus one. My expat supervisor lives on an island. Employer pays rent USD ~55k per year.
2. Company car with a driver (USD ~40k per year)
3. Child education paid for in an international school (USD ~35k per year per child)
4. International health insurance (USD ~3k per year per family member)
5. One return ticket per year for entire family (most expats avail this benefit to return home during festive season)
6. 30 paid leaves per year additional to China statutory requirement

Kudos to you if you are an expat in China.

If house rent, commute, child education and health insurance is paid for, one can easily save 90+% of salary and give FIRE a solid boost.
I’m curious what kind of jobs and companies have expat packages like that because wow... I have zero desire to go to China again but that is so generous I would be tempted.

ysette9

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Re: Overheard at Work 2
« Reply #2546 on: June 29, 2020, 03:22:53 PM »
Well one of my coworkers just bought a used porches because it was a good deal at $28,000.  And granted for the car it was a “good deal“ but they already have 4 cars for 4 people.

Are they going to park the Porsche on one of the porches?   (ducks and rolls....... )

I'm not normally a grammar nazi, honest, but I do one an example of a fine piece of Finnish car-making, a Porsche Boxster from Uusikaupunki .
I admit, it took me a moment also. “Maybe they are adding on a deck?”

Freedomin5

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Re: Overheard at Work 2
« Reply #2547 on: June 29, 2020, 03:30:46 PM »
Well one of my coworkers just bought a used porches because it was a good deal at $28,000.  And granted for the car it was a “good deal“ but they already have 4 cars for 4 people.

Are they going to park the Porsche on one of the porches?   (ducks and rolls....... )

I'm not normally a grammar nazi, honest, but I do one an example of a fine piece of Finnish car-making, a Porsche Boxster from Uusikaupunki .
I admit, it took me a moment also. “Maybe they are adding on a deck?”

It’s the sign of a true Mustachian who has no need of spelling luxury brands.

Freedomin5

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Re: Overheard at Work 2
« Reply #2548 on: June 29, 2020, 03:41:59 PM »
Yikes. I just checked and there are flights in August flying to China from Mumbai with a layover in Japan. Most of the expats returning home after their contracts ended have been routed through multiple cities.

Airlines are taking bookings without any visibility when government will allow flights to be operational. When date of flight approach, airlines hand out a coupon saying you can travel on the said ticket anytime during the next 1 year (of course if price at that moment is higher you have to pay the difference, if price is lower you won't receive a refund). Few activists approached court and court advised airlines to extend coupon validity from 1 year to 2 years.
In Feb, I booked a crazy connecting flight flying through India-Sri Lanka-Malaysia-Hong Kong-China. Whenever flights are operational either I have to take this back breaking journey or say goodbye to USD 250 ticket. (most likely the latter)

In other related anti-Mustachian news, several expats here have decided to charter their own plane to fly themselves and their families back to the states next month, as they have been unable to find commercial flights. The word on the street is that tickets will cost somewhere between $2K-$10k per person. It’s nice when you have money.

Perhaps ticket cost is paid by their employer.

Several employers have an exorbitant support package for expats in China.

My employer provides following perks for expats in China (unfortunately I am a local hire with no benefits):

1. Rent is covered by employer. One can choose a house with bedrooms equal to number of family members plus one. My expat supervisor lives on an island. Employer pays rent USD ~55k per year.
2. Company car with a driver (USD ~40k per year)
3. Child education paid for in an international school (USD ~35k per year per child)
4. International health insurance (USD ~3k per year per family member)
5. One return ticket per year for entire family (most expats avail this benefit to return home during festive season)
6. 30 paid leaves per year additional to China statutory requirement

Kudos to you if you are an expat in China.

If house rent, commute, child education and health insurance is paid for, one can easily save 90+% of salary and give FIRE a solid boost.
I’m curious what kind of jobs and companies have expat packages like that because wow... I have zero desire to go to China again but that is so generous I would be tempted.

Almost all the MNCs have packages like that. Out of my circle of acquaintance...Ford, GM, Disney, major American hotel chains like Marriott, embassies and consulates, all the retail and investment banks like HSBC, major accounting firms, major law firms, big pharma...The return ticket is typically for business class seats. Some employers will also contribute to a retirement plan for you. The packages are easily worth $500k to $1M in salary and benefits.

Most of the people with the packages are in a leadership position, like General Manager, or head of a particular car parts division, etc. Many of them are engineers, esp. the ones in the car companies.

All the major international schools also offer the above package for their teachers, minus the car and driver. And they only cover economy class seats.
« Last Edit: June 29, 2020, 04:30:06 PM by Freedomin5 »

Feivel2000

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Re: Overheard at Work 2
« Reply #2549 on: June 29, 2020, 04:05:06 PM »
Something minor... Co-worker is pregnant and now announced that she'll also get a boat.
But they're both making good money and thanks for being in Germany her job is still secure. But still... Not sure how intensive they'll use it.