Author Topic: Overheard at Work: The Anti-Antimustachian Edition  (Read 632528 times)

Dicey

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1100 on: September 26, 2018, 09:05:02 AM »
Yup, this is the right place. Kudos to both of you!

hdatontodo

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1101 on: September 26, 2018, 09:48:07 AM »
...good for him for saving that much after tax.

That is good he did the savings, but the opportunity cost of not working for years after college and not investing the money for 30 years is quite costly.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1102 on: September 26, 2018, 11:16:54 AM »
...good for him for saving that much after tax.

That is good he did the savings, but the opportunity cost of not working for years after college and not investing the money for 30 years is quite costly.

I agree.  I could quit right now and travel for 5-10 years or I could work 5-10 years and then quit forever.  Long game.

Mesmoiselle

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1103 on: September 26, 2018, 12:56:35 PM »
Summary: "Co-worker began LLC with several friends from college over last decade to buy stocks and flip houses"

I'd don't know if I'd do it, but it sounded pretty damn mustachian to me. :)

I wonder how their LLC has performed over the last decade......

I would think well enough or they wouldn't keep doing it, nor be the sort of people who would save 100k each as an achievable goal. I didn't super inquire into their exact profits to prove my assumption though :)

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1104 on: September 26, 2018, 11:39:12 PM »
Co-worker, who has been out of college 3 years, has saved up $30,000 and quit their job to travel the world until the money runs out.  No one can believe he's saved up that much money.  I on the other hand am on the longer term plan in hopes a little more work now will be a greater payoff later.  Been working a little over 2 years now out of college and have $80,000 in my 401k and $10,000 in my HSA.  Anyway, wasn't sure if this was the right place to put this but good for him for saving that much after tax.

There is something to say about both strategies.
When you are young, without children, not bound by a house or mortgage, not used to living in expensive hotels, not having done everything before in young life, and still in good physical shape, you can travel more easily around the world than later when all these things are in place. I think @spartana is such a person who has had multiple sabbaticals before retiring early.
Having to work to 65/67 until you receive your official pension is not tempting for us Mustachians, so we'd rather save up now.
On the other hand, your colleague has shown to be decent at saving. If he starts over doing that again when back from the trip, he might still be able to retire some years  earlier than the majority.

Hirondelle

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1105 on: September 27, 2018, 12:04:30 AM »
I'm also with your co-worker on this one, but I think it does depend on your life goals and long-term outlook. Let's say I'm at a hard to get, super high paying job and had <5 years of career to go to FIRE I'd totally wait till full FIRE levels before quitting and traveling the world. However, at my current numbers it'll take closer to 15-20 years not taking into account any partnering up or children.

Also realize that not everyone who travels finishes all their money. Actually, most people I met worked on their way once they got bored of trekking around only (this point seems to be around the 6 month mark from my anecdata). When I left after uni I had $17k to start with and 11 months later I came back with $13.5k and countless experiences. Totally worth $3.5k and some missed gains in the market to me I can tell you :).

Cookie78

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1106 on: September 27, 2018, 10:37:34 PM »
I'm also with your co-worker on this one, but I think it does depend on your life goals and long-term outlook. Let's say I'm at a hard to get, super high paying job and had <5 years of career to go to FIRE I'd totally wait till full FIRE levels before quitting and traveling the world. However, at my current numbers it'll take closer to 15-20 years not taking into account any partnering up or children.

Also realize that not everyone who travels finishes all their money. Actually, most people I met worked on their way once they got bored of trekking around only (this point seems to be around the 6 month mark from my anecdata). When I left after uni I had $17k to start with and 11 months later I came back with $13.5k and countless experiences. Totally worth $3.5k and some missed gains in the market to me I can tell you :).

Add me to the list. Don't regret my long term travels when I was a young adult one single iota.

Threshkin

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1107 on: September 28, 2018, 01:07:44 PM »
I'm also with your co-worker on this one, but I think it does depend on your life goals and long-term outlook. Let's say I'm at a hard to get, super high paying job and had <5 years of career to go to FIRE I'd totally wait till full FIRE levels before quitting and traveling the world. However, at my current numbers it'll take closer to 15-20 years not taking into account any partnering up or children.

Also realize that not everyone who travels finishes all their money. Actually, most people I met worked on their way once they got bored of trekking around only (this point seems to be around the 6 month mark from my anecdata). When I left after uni I had $17k to start with and 11 months later I came back with $13.5k and countless experiences. Totally worth $3.5k and some missed gains in the market to me I can tell you :).

My nephew recently completed a 2+ year solo walkabout around the world.  He was 18 and fresh out of school.  During this trip he supported himself by working and cutting his expenses to the bone.  He finished the trip with more money than he started with.  But more importantly, he found his passion and made good contacts along the way.  He is now at UNI in Germany studying green architecture but is also busy in Bali managing the construction of an Eco-lodge for one of his contacts.  He was also invited to Dubai to participate in a green building construction competition.

He spent a week with us on his way home from his adventure.  We were very impressed with his maturity, personality and drive.  This boy will go far.

Travel broadens your mind but it can also focus it.

Taran Wanderer

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1108 on: September 28, 2018, 11:24:14 PM »
I'm also with your co-worker on this one, but I think it does depend on your life goals and long-term outlook. Let's say I'm at a hard to get, super high paying job and had <5 years of career to go to FIRE I'd totally wait till full FIRE levels before quitting and traveling the world. However, at my current numbers it'll take closer to 15-20 years not taking into account any partnering up or children.

Also realize that not everyone who travels finishes all their money. Actually, most people I met worked on their way once they got bored of trekking around only (this point seems to be around the 6 month mark from my anecdata). When I left after uni I had $17k to start with and 11 months later I came back with $13.5k and countless experiences. Totally worth $3.5k and some missed gains in the market to me I can tell you :).

When I graduated from college, I had a goal to save up $10,000 and go travel for 6 to 12 months.  Once I hit the $10k, I decided to wait until I paid off my student loans. Then I decided Iíd do it at $50k.  Then $100k.  Etc.

Now I am married and we have three kids and have more than enough money to travel for a year or two or five. But traveling for an extended period with kids is a whole different ballgame. We are able to travel a lot, but vacation travel for weeks is different from a walkabout for months or a year.

Traveling when youíre young, tough, cheap, and single is a great idea, even with the opportunity cost.

Dave1442397

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1109 on: September 29, 2018, 12:51:36 PM »
I'm also with your co-worker on this one, but I think it does depend on your life goals and long-term outlook. Let's say I'm at a hard to get, super high paying job and had <5 years of career to go to FIRE I'd totally wait till full FIRE levels before quitting and traveling the world. However, at my current numbers it'll take closer to 15-20 years not taking into account any partnering up or children.

Also realize that not everyone who travels finishes all their money. Actually, most people I met worked on their way once they got bored of trekking around only (this point seems to be around the 6 month mark from my anecdata). When I left after uni I had $17k to start with and 11 months later I came back with $13.5k and countless experiences. Totally worth $3.5k and some missed gains in the market to me I can tell you :).

When I graduated from college, I had a goal to save up $10,000 and go travel for 6 to 12 months.  Once I hit the $10k, I decided to wait until I paid off my student loans. Then I decided Iíd do it at $50k.  Then $100k.  Etc.

Now I am married and we have three kids and have more than enough money to travel for a year or two or five. But traveling for an extended period with kids is a whole different ballgame. We are able to travel a lot, but vacation travel for weeks is different from a walkabout for months or a year.

Traveling when youíre young, tough, cheap, and single is a great idea, even with the opportunity cost.

This family is traveling the world on a catamaran. Seems like fun!  https://youtu.be/3ulzyVK-kyE

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1110 on: October 03, 2018, 01:17:11 AM »
One of my colleagues is approaching normal pension age. He is now changing job internally for his last 2 years, because he gets a higher salary, which will give him 600$ extra in pension monthly. In his current job he would have had to work another 5 years for the same amount. Good for him.

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1111 on: October 04, 2018, 07:06:30 AM »
I just met with a new colleague and his wife. They seem very Mustachian people. All their furniture is bought second hand.

She has a permanent disability income. They are now moving to a new country where he can get a job in his specialty.

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1112 on: October 23, 2018, 11:36:27 AM »
My DH's coworker had rented put his apartment for 3 days to a film crew making a commercial. He eraned 2000 dollars with that. It turned out they made quite a mess of the apartment. After complaining, he receive another 2000 dollars to ease the pain. That was an easy way of eraning 4000 dollars in 3 days, plus some tidying and cleaning.

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1113 on: October 25, 2018, 01:18:31 PM »
Recently we had 2 days of team building with work. At the end, my department got a DVD with a movie. I took it home to watch. It turned out to be a philosophical movie about some people who prioritize being alive above being a consumer and getting highly paid. It fitted nicely into the philosophy of this website.

The movie is called Loop. It is spoken in Norwegian, but there were English subtltles available.

LPG

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1114 on: October 25, 2018, 02:33:00 PM »
Recently we had 2 days of team building with work. At the end, my department got a DVD with a movie. I took it home to watch. It turned out to be a philosophical movie about some people who prioritize being alive above being a consumer and getting highly paid. It fitted nicely into the philosophy of this website.

The movie is called Loop. It is spoken in Norwegian, but there were English subtltles available.

I think this is both great, and very surprising! Do you know why they chose to give that particular movie as part of a team building exercise? I would have expected something much more focused on drinking the corporate kool-aid, considering where you got it from.

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1115 on: October 25, 2018, 03:05:53 PM »
Recently we had 2 days of team building with work. At the end, my department got a DVD with a movie. I took it home to watch. It turned out to be a philosophical movie about some people who prioritize being alive above being a consumer and getting highly paid. It fitted nicely into the philosophy of this website.

The movie is called Loop. It is spoken in Norwegian, but there were English subtltles available.

I think this is both great, and very surprising! Do you know why they chose to give that particular movie as part of a team building exercise? I would have expected something much more focused on drinking the corporate kool-aid, considering where you got it from.

One of the teambuilding instructors had contributed to this movie. Edit: he was one of the protagonists.

The movie had nothing to do with the team building exercises. That was all about being 4 personality types and solving challenges as a group.

I think the movie wasn't necessarily about early retirement. But it was about becoming happier when you stop chasing being a consumer and focus on being yourself.
« Last Edit: October 25, 2018, 11:50:53 PM by Linda_Norway »

Beardy

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1116 on: October 26, 2018, 08:02:16 AM »
Have had several conversations recently with some co-workers regarding importance of savings and personal investment outside of 401k contributions. A few really encourage younger employees to start saving NOW to take advantage of compounding interest. There was a good discussion regarding HSAs the other day too, on making them a second retirement savings account. Name dropped MMM a few times and at least one person has read a few articles.

Granted, the 2 co-workers I've had the most in-depth and coherent conversations have been from the Finance department...Somehow refreshing considering previous Finance employees I've worked with that are total spendy-pants.

RunningWithScissors

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1117 on: October 30, 2018, 11:26:03 AM »
I got 'outed' as a Mustachian a couple of years ago when I replied to a MMM tweet and a coworker saw my real-life name in MMM's feed.  Since then, we've been plotting our respective FIRE paths under the radar, although I've since officially resigned and my retirement plans are now public knowledge.  Last month, he updated his case study on a well known Canadian FIRE blog - in two years, he's gone from hopeless to kicking @SS!  I'm so proud of him!

zolotiyeruki

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1118 on: November 01, 2018, 03:01:33 PM »
"A manager, an HR person, and four engineers walk into a conference room." It sounds like a setup for a Dad joke.  But that's what happened today.  My workplace is going through some changes, and we need to re-enroll in a new 401k plan.  The HR person was here to present the options to the five full time employees.

The awesome part:  There are several Vanguard options now.
Another awesome part:  Everyone there has already been participating in the 401k plan
Another awesome part:  All the employees are fans of index funds, and probably understand 401k's just as well as the HR person.
Another awesome part:  At least one person asked about the contribution limits.

Taran Wanderer

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1119 on: November 02, 2018, 11:47:44 AM »
My employer matches $0.50 on the dollar for the first 6% of employee contributions to our 401k plan. Across the whole company, not everyone contributes, so the average company contribution is about 2.5%.  Therefore, all department labor budgets are set up with a 2.5% match.

My department can all do math and therefore we all contribute at least 6% to get the full 3% match.  Result?  our department is always over budget on retirement.
« Last Edit: November 06, 2018, 07:56:59 AM by Taran Wanderer »

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1120 on: November 06, 2018, 04:14:59 AM »
My colleagues were discussing at which of the two grocery stores we tend to shop. Most people shopped at the cheaper chain, which according to one of my co-workers was 10% cheaper than the more expensive chain.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1121 on: November 06, 2018, 08:04:25 AM »
My colleagues were discussing at which of the two grocery stores we tend to shop. Most people shopped at the cheaper chain, which according to one of my co-workers was 10% cheaper than the more expensive chain.

3 of my colleagues and I have an email thread going - basically, when the sales flyers come out, we will share things like 'ham is on sale at 99c/lb here, and here's a recipe, and then leftovers can combine in this soup with the following on-sale vegetables...'

So, yeah. Commit. :)

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1122 on: November 23, 2018, 02:09:39 AM »
Maybe my colleagues have noticed that I am a cheap person. At least my group leader showed me her new sweater and voluntarily told me it only cost 30$ and was a good bargain. She bought 2 in the same colour. It was indeed a very nice sweater and worth that price.

I saw another co-worker's phone and asked him what type it was. He said it was a Moto phone, typically a cheap brand with good phones. He paid 300$ for it, which in Norway is cheap for a phone. I told him I had also just purchased a new phone for that price. We both agreed on that it was madness to spend 800$ on a phone like some other people do.

gaja

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1123 on: November 23, 2018, 06:59:25 AM »
A co-worker asked me for advice on a used EV. His budget allowed for a 2012 Nissan leaf, but was considering saving up for a couple more months to get the 30kWh version. If he went for the imported no-fuss version, it wouldn't be much more expensive than the 24 kWh one. Nice to hear someone only focusing on needs, and refusing to pay extra for comfort.

Cali

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1124 on: November 23, 2018, 08:43:24 PM »
I was chatting with a fairly new coworker who asked me if I got more money in my last check, I hadnít. Seems she had maxed her 401K and hadnít realized it and got a boost in her account as a result. She is the first coworker who has mentioned retirement to me in a context other than, ďI know I should contribute but I have bills.Ē

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1125 on: December 04, 2018, 06:26:56 AM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Linea_Norway

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1126 on: December 04, 2018, 06:36:40 AM »
A co-worker asked me for advice on a used EV. His budget allowed for a 2012 Nissan leaf, but was considering saving up for a couple more months to get the 30kWh version. If he went for the imported no-fuss version, it wouldn't be much more expensive than the 24 kWh one. Nice to hear someone only focusing on needs, and refusing to pay extra for comfort.

Also nice to hear that someone wants to save up first, instead of buying now and pay later.

zolotiyeruki

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1127 on: December 04, 2018, 01:08:00 PM »
Our work recently switched to a new retirement plan, and we were discussing the options over lunch.  One of my coworkers, who I'm sure earns less than I do, mentioned that last year he over contributed to his 401k and wasn't in a hurry to enroll in the new retirement plan, because he'd already maxed out his contribution this year.  He drives an old Civic, rents a very modest place, has a roommate, and keeps his expenses down.

jinga nation

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1128 on: December 06, 2018, 04:25:20 PM »
In mid-2018, my employer, 70-person company, less than 5 years in operation, sent out an employee survey. Fortunately, more than 50% of the responses were about getting cheaper 401k options, ditching American Funds, etc. HR asked for benefits committee volunteers, I joined to represent my location (we're spread over 3 regions). We don't have management positions in the company, only engineers and a few HR/admin staff.

I did a lot research and came up with options, wrote a report with substantial data (thanks to bogleheads and portfolio visualizer). Turned it in and gave our HR director a brief summary.

Last month, our new veep talked to the committee and received a briefing, then said the company leadership was going to look into 401k alternatives for 2019.

Today, veep sent out and email stating:
Quote
In January, we will evaluate 401(K) platforms in order to put a more attractive program in place. We will specifically include the programs recommended by the benefits committee in our assessment.

I'm stoked. They asked me if I wanted to be involved in the assessment and selection process. Naturally I said yes. I'm glad I have an awesome employer that asks for employee feedback and then uses the data to improve things for all.
« Last Edit: December 07, 2018, 07:10:25 AM by jinga nation »

Fomerly known as something

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1129 on: December 06, 2018, 07:13:04 PM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Not a guild, Human Resources does this at my agency.

dragoncar

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1130 on: December 11, 2018, 12:03:26 AM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Is your profession mathematically challenged?  This is simple division

LennStar

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1131 on: December 11, 2018, 01:42:40 AM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Is your profession mathematically challenged?  This is simple division

Only if you know the deduction amount. And who knows THAT???

btw. doesn't that change every year? So it makes sense to tell it everyone instead of everyone looking it up? Or is it some fixed thing that gets eaten by inflation?

dragoncar

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1132 on: December 12, 2018, 12:04:44 AM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Is your profession mathematically challenged?  This is simple division

Only if you know the deduction amount. And who knows THAT???

btw. doesn't that change every year? So it makes sense to tell it everyone instead of everyone looking it up? Or is it some fixed thing that gets eaten by inflation?

It's supposed to be indexed to inflation, but I believe they do it in $500 increments so it doesn't go up every year.  At least that's how I think 401k works and they usually have the same limits

dandarc

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1133 on: December 12, 2018, 10:20:03 AM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Is your profession mathematically challenged?  This is simple division

Only if you know the deduction amount. And who knows THAT???

btw. doesn't that change every year? So it makes sense to tell it everyone instead of everyone looking it up? Or is it some fixed thing that gets eaten by inflation?

It's supposed to be indexed to inflation, but I believe they do it in $500 increments so it doesn't go up every year.  At least that's how I think 401k works and they usually have the same limits
Inflation has been quite low for a long while, so we've had a couple 2-3 year runs without increases lately. $500 is less than 3% of $19K, so you'd think it will be less and less likely to stay flat from year-to-year.

dude

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1134 on: December 12, 2018, 11:03:12 AM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Is your profession mathematically challenged?  This is simple division

Haha!  It's not actually that simple, believe it or not. There are three different pay processors in the Fed government, and depending on who processes your paycheck, there could be 26 or 27 pay periods. And determining whether the final pay period is in the current tax year or the following requires determining the EFT date for your check (as opposed to the official pay date). For NFC processing, 2018 was a 27-pay period year, because the EFT date for P27 is Monday, December 31 (even though the official pay date is Thursday, Jan 3). This shit causes confusion every damn year!!!

fattest_foot

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1135 on: December 13, 2018, 03:56:09 PM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Glad I decided to read this thread today. I completely forgot that I'd need to change my contribution amount this year. Usually they send an email out, but maybe it's just not late enough in the year yet.

I'm curious what day they said to do it by? I went in to change it just now, but it says the effective date would be 12/23. Which would be one pay period too early.

aceyou

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1136 on: December 13, 2018, 04:41:28 PM »
Coworker who as previously been a big spender asked if I'd walk her through investing.  We sat down for 2 hours last week.  Talked about basics of taxes, fees, investments.  She is currently setting up a 403B and filling it with low cost index funds next year.  I'm very happy for her. 

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1137 on: December 13, 2018, 05:56:02 PM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Glad I decided to read this thread today. I completely forgot that I'd need to change my contribution amount this year. Usually they send an email out, but maybe it's just not late enough in the year yet.

I'm curious what day they said to do it by? I went in to change it just now, but it says the effective date would be 12/23. Which would be one pay period too early.

If youíre in the same pay system as me (I think NFC?) 12/23 is the correct effective date. 12/23 to 1/5 is the first pay period for 2019.

I learned from HR this year that you can request a change to TSP up to 90 days before the effective date on employee express. End of November, they told us 12/23 was the effective date we should enter to up contributions for 2019 (and employee express listed that date too). Also 2019 is 26 pay periods instead of 27.


Fomerly known as something

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1138 on: December 13, 2018, 06:35:39 PM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Is your profession mathematically challenged?  This is simple division

Only if you know the deduction amount. And who knows THAT???

btw. doesn't that change every year? So it makes sense to tell it everyone instead of everyone looking it up? Or is it some fixed thing that gets eaten by inflation?

Mainly it tells me what pay period starts the new year.  It is never pay period #1, also it will tell me if randomly this is the year we get 27 pay checks.

CrabbitDutchie

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1139 on: December 19, 2018, 01:30:11 PM »

We normally get paid on the last working day of the month.

In December for some reason we'll get paid this friday (21st). This leads to lots of 'Oh woe is me, nearly 6 weeks on one paycheck is so hard, wah wah wah *complainypants*.

However overheard
CW1: "I don't really see why it's a problem, I always put it away and don't touch it till after the new year."
CW2: "But you always say you're skint in January"
CW1: "See that's the beauty, you have a ready made excuse to not socialise. So you might as well take full advantage *wink*"

newfound respect for CW1 who I had down as quite a big spender.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1140 on: December 19, 2018, 02:57:49 PM »
I love my new company! They are all so financially savvy. HR pushes HSAs as a great investment vehicle. They just implemented a new feature to auto-enroll people in after-tax 401k contributions if you are already maxing out the tax-advantaged space. Our 401k plan has auto Roth conversion for the after-tax money. The plan is with Vanguard with awesome fees.

Contrast to my old company where they just this year implemented after-tax Roth conversion as an option. You could only convert once a year, you had to pay a fee to do it, and you had to FAX a dead-tree form in to request the conversion, which took place a week+ later. What bullshit.
The default investment option there was a target date fund (fine) with fees around 0.7+% (not fine). I fought hard to advocate for lower fees but got bullshit responses in return until I gave up.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1141 on: December 20, 2018, 01:08:56 AM »
I love my new company! They are all so financially savvy. HR pushes HSAs as a great investment vehicle. They just implemented a new feature to auto-enroll people in after-tax 401k contributions if you are already maxing out the tax-advantaged space. Our 401k plan has auto Roth conversion for the after-tax money. The plan is with Vanguard with awesome fees.

Contrast to my old company where they just this year implemented after-tax Roth conversion as an option. You could only convert once a year, you had to pay a fee to do it, and you had to FAX a dead-tree form in to request the conversion, which took place a week+ later. What bullshit.
The default investment option there was a target date fund (fine) with fees around 0.7+% (not fine). I fought hard to advocate for lower fees but got bullshit responses in return until I gave up.left for a better company.
FTFY. Doesn't sound like you gave up anything in the end. Hooray!

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1142 on: December 20, 2018, 10:00:46 AM »
I love my new company! They are all so financially savvy. HR pushes HSAs as a great investment vehicle. They just implemented a new feature to auto-enroll people in after-tax 401k contributions if you are already maxing out the tax-advantaged space. Our 401k plan has auto Roth conversion for the after-tax money. The plan is with Vanguard with awesome fees.

Contrast to my old company where they just this year implemented after-tax Roth conversion as an option. You could only convert once a year, you had to pay a fee to do it, and you had to FAX a dead-tree form in to request the conversion, which took place a week+ later. What bullshit.
The default investment option there was a target date fund (fine) with fees around 0.7+% (not fine). I fought hard to advocate for lower fees but got bullshit responses in return until I gave up.left for a better company.
FTFY. Doesn't sound like you gave up anything in the end. Hooray!
:)

You are right about it being a better company. It was a bit of a challenge mentally to decide that is what I was really going to do though. I had 14 years in the first company and had been selected for various special-people career development programs and all of that. I don’t think it unreasonable to say i could have become a VP there eventually had I stayed. So in my mind this move was deliberately choosing to turn my back on the career advancement path and choose to prioritize my personal life in the long run. I feel like being steeped in MMM for so many years put my head in the right space to make that move. Sure, I’m earning more at a better company now, but I am a nobody in a sea of super smart, talented people whereas before I was connected and influential (somewhat). I’m totally okay with that because my goal is no longer career achievement but FI, baby!

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1143 on: December 20, 2018, 10:20:30 AM »
The professional guild at my work sent out an email telling people how much to deduct from each paycheck in 2019 if they want to hit the max on the TSP :)

Is your profession mathematically challenged?  This is simple division

Haha!  It's not actually that simple, believe it or not. There are three different pay processors in the Fed government, and depending on who processes your paycheck, there could be 26 or 27 pay periods. And determining whether the final pay period is in the current tax year or the following requires determining the EFT date for your check (as opposed to the official pay date). For NFC processing, 2018 was a 27-pay period year, because the EFT date for P27 is Monday, December 31 (even though the official pay date is Thursday, Jan 3). This shit causes confusion every damn year!!!

Ummm can I have the answer to this? Because yea I wasn't sure how the whole pay period ends vs check is cut vs official pay date works out.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1144 on: December 20, 2018, 06:37:28 PM »
at my employer's holiday party, our new VP of operations thanked me for my analysis/report that convinced the owners to make a low-ER 401k a priority for 2019. Also she said that a significant number of the employees max out their contributions, so they're super mad at the high fees of our current 'MuricanFunds 401k. Everyone is contributing, at the very least, the minimum 6% to get the match.

Heh, I work with a ton of savers. Awesome!

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1145 on: December 21, 2018, 04:51:15 AM »
I love my new company! They are all so financially savvy. HR pushes HSAs as a great investment vehicle. They just implemented a new feature to auto-enroll people in after-tax 401k contributions if you are already maxing out the tax-advantaged space. Our 401k plan has auto Roth conversion for the after-tax money. The plan is with Vanguard with awesome fees.

Contrast to my old company where they just this year implemented after-tax Roth conversion as an option. You could only convert once a year, you had to pay a fee to do it, and you had to FAX a dead-tree form in to request the conversion, which took place a week+ later. What bullshit.
The default investment option there was a target date fund (fine) with fees around 0.7+% (not fine). I fought hard to advocate for lower fees but got bullshit responses in return until I gave up.left for a better company.
FTFY. Doesn't sound like you gave up anything in the end. Hooray!
:)

You are right about it being a better company. It was a bit of a challenge mentally to decide that is what I was really going to do though. I had 14 years in the first company and had been selected for various special-people career development programs and all of that. I donít think it unreasonable to say i could have become a VP there eventually had I stayed. So in my mind this move was deliberately choosing to turn my back on the career advancement path and choose to prioritize my personal life in the long run. I feel like being steeped in MMM for so many years put my head in the right space to make that move. Sure, Iím earning more at a better company now, but I am a nobody in a sea of super smart, talented people whereas before I was connected and influential (somewhat). Iím totally okay with that because my goal is no longer career achievement but FI, baby!
Dunno, I think of FI and RE as the ultimate career achievement. For most of us, hitting those targets makes our lives far more interesting/rewarding/meaningful. I should toss "happier" in there, too.

As to your "nobody" assesment: 1) I call BS and 2) Being surrounded by smart people actually helps me up my game and is somehow more satisfying, in my experience.

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1146 on: December 21, 2018, 11:47:56 AM »
I love my new company! They are all so financially savvy. HR pushes HSAs as a great investment vehicle. They just implemented a new feature to auto-enroll people in after-tax 401k contributions if you are already maxing out the tax-advantaged space. Our 401k plan has auto Roth conversion for the after-tax money. The plan is with Vanguard with awesome fees.

Contrast to my old company where they just this year implemented after-tax Roth conversion as an option. You could only convert once a year, you had to pay a fee to do it, and you had to FAX a dead-tree form in to request the conversion, which took place a week+ later. What bullshit.
The default investment option there was a target date fund (fine) with fees around 0.7+% (not fine). I fought hard to advocate for lower fees but got bullshit responses in return until I gave up.left for a better company.
FTFY. Doesn't sound like you gave up anything in the end. Hooray!
:)

SNIP
achievement but FI, baby![/b]
Dunno, I think of FI and RE as the ultimate career achievement. For most of us, hitting those targets makes our lives far more interesting/rewarding/meaningful. I should toss "happier" in there, too.

As to your "nobody" assesment: 1) I call BS and 2) Being surrounded by smart people actually helps me up my game and is somehow more satisfying, in my experience.

I can always count on Dicey to keep me honest :)

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1147 on: January 03, 2019, 09:09:04 AM »
I had a co-worker tell me that he's contributing the "maximum" to his 401K.

He also is almost entirely in bonds, trying to time his entry back into the stock market, so not exactly a paragon.

ysette9

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1148 on: January 03, 2019, 09:46:27 AM »
Funny how “maxing” seems to have different meanings.
Max go get company match (whatever)
Max of tax-deferred space ($19k)
Max of total contributions ($55k)

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Re: Overheard at Work: The Anti-Antimustachian Edition
« Reply #1149 on: January 03, 2019, 11:54:09 AM »
Yesterday one of my coworkers, who I have already talked about maxing their TSP (and also I got to read MMM, although doesn't seem too keen on early retirement), was asking how to change the withholding for 2019.

Another coworker, who I know contributes but I figured was only getting the match, wandered over and asked for the website link. To my surprise, she asked if the maximum had increased. Turns out they're both maxing theirs out. Way to go!