Author Topic: Overheard at Work  (Read 10867513 times)

MustacheBeginner

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Re: Overheard at Work
« Reply #20200 on: June 02, 2018, 01:50:29 PM »
Quote
CW: I sold everything and put it into something called gold CD's. I read an article on FB that when Donald Trump starts nuclear war gold will be worth a lot.

Thank you that is exactly what I want to read here :)
Just wow...

markbike528CBX

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Re: Overheard at Work
« Reply #20201 on: June 02, 2018, 06:08:20 PM »
Quote
CW: I sold everything and put it into something called gold CD's. I read an article on FB that when Donald Trump starts nuclear war gold will be worth a lot.

Thank you that is exactly what I want to read here :)
Just wow...

Did CW really say"something called gold CD's" or was that a confusion/paraphrase from Swish?

Perhaps .......
???https://en.m.wikipedia.org/wiki/Gold_compact_disc
1st google hit for gold CD

barbaz

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Re: Overheard at Work
« Reply #20202 on: June 04, 2018, 12:31:30 AM »
Quote
CW: I sold everything and put it into something called gold CD's. I read an article on FB that when Donald Trump starts nuclear war gold will be worth a lot.

Thank you that is exactly what I want to read here :)
Just wow...

Did CW really say"something called gold CD's" or was that a confusion/paraphrase from Swish?

Perhaps .......
???https://en.m.wikipedia.org/wiki/Gold_compact_disc
1st google hit for gold CD
He probably meant CFDs, which is, if you think about it, extra stupid because it combines the low returns of gold investments with the crisis vulnerability of bank bonds.

Swish

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Re: Overheard at Work
« Reply #20203 on: June 04, 2018, 08:24:06 AM »
Quote
CW: I sold everything and put it into something called gold CD's. I read an article on FB that when Donald Trump starts nuclear war gold will be worth a lot.

Thank you that is exactly what I want to read here :)
Just wow...

Did CW really say"something called gold CD's" or was that a confusion/paraphrase from Swish?

Perhaps .......
???https://en.m.wikipedia.org/wiki/Gold_compact_disc
1st google hit for gold CD

Lawl he might have been further off buying compact discs. He is set up on QT so I assume he just bought a CFD like barbaz mentioned. 

alanB

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Re: Overheard at Work
« Reply #20204 on: June 04, 2018, 11:00:50 AM »
Quote
CW: I sold everything and put it into something called gold CD's. I read an article on FB that when Donald Trump starts nuclear war gold will be worth a lot.

Thank you that is exactly what I want to read here :)
Just wow...

Did CW really say"something called gold CD's" or was that a confusion/paraphrase from Swish?

Perhaps .......
???https://en.m.wikipedia.org/wiki/Gold_compact_disc
1st google hit for gold CD
He probably meant CFDs, which is, if you think about it, extra stupid because it combines the low returns of gold investments with the crisis vulnerability of bank bonds.

At least it is traded in USD instead of something worthless like physical gold ;P

merula

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Re: Overheard at Work
« Reply #20205 on: June 04, 2018, 11:31:07 AM »
He probably meant CFDs, which is, if you think about it, extra stupid because it combines the low returns of gold investments with the crisis vulnerability of bank bonds.

At least it is traded in USD instead of something worthless like physical gold ;P

You can't eat gold. That's why I have all my investments in chicken bouillon.

Davnasty

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Re: Overheard at Work
« Reply #20206 on: June 04, 2018, 12:26:37 PM »
He probably meant CFDs, which is, if you think about it, extra stupid because it combines the low returns of gold investments with the crisis vulnerability of bank bonds.

At least it is traded in USD instead of something worthless like physical gold ;P

You can't eat gold. That's why I have all my investments in chicken bouillon.

Chicken bullion? precious chicken.

facepalm

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Re: Overheard at Work
« Reply #20207 on: June 04, 2018, 02:14:07 PM »
In the break room today I got to talking with someone who saw me preparing my morning oatmeal (fancy! With lots of frozen cherries and berries and peanut butter).

Im switching to Starbucks oatmeal from their breakfast sandwiches.

Me: oh, but oatmeal is so easy to do yourself.

Well, i am at Starbucks for my morning coffee so I switch from the breakfast sandwich to oatmeal. It is better for the health, you know.
That is so SF Bay. I have work acquaintances that spend $25 per day on coffee plus drinks and breakfast for the kids at Starbucks. $ adds up quickly.

FireHiker

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Re: Overheard at Work
« Reply #20208 on: June 04, 2018, 05:27:23 PM »
One from last week:

I have a co-worker who is often scraping by, barely able to make ends meet, who makes the worst financial decisions. Past gems have included: courtside seats at an NBA game last year for her wife's birthday (to make memories...sadly her wife has alzheimers so it's horrible but she's probably not going to remember it), maintaining two vehicles, both with bad gas mileage (and possibly payments still?) even though her wife will never drive again, getting so hammered out at bars that she got into a fight or got assaulted or something but wasn't sure about the details because she blacked out, two expensive, high maintenance dogs with "doggy day care" on a regular basis (even though there is someone home during the day, she sends the dogs to "doggy day care" often because "they like it"), etc. The latest? $3000 on front row seats to see Pink in concert, plus t-shirt (because what's a t-shirt on top of $3000 I suppose). It's so painful to watch because prior to the diagnosis her wife was the "responsible" one and would at least keep their finances in marginal shape. Now it's a total shit-show, but she's not particularly open to advice.

cloudsail

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Re: Overheard at Work
« Reply #20209 on: June 04, 2018, 09:58:03 PM »
CW: Hey you know about investing stuff right?
Me: A little I guess.
CW: how is this mutual fund I have $10k in doing.
Me: well you invested $10k in 2010 and it is now 2018 so I'd say it is not doing very well.
CW: That is what I thought but I didn't lose any money so that is good.
Me: Well actually you lost money to inflation so there is that.
CW: But I didn't loose any money money right?
Me: No the dollar amount is virtually the same but the value is different now. You could have thrown it into an index fund and performed better over the years.
CW: Like the S&P 500? I want to invest in that can you show me how to do that? I don't really need the money anyways.

*Help the guy set up account, transfer the funds and buy a mix of stock and bond index funds.*
*made mistake of going on vacation for a week*

CW: What the heck man?
Me : oh whats that?
CW: I lost $86 on that investment last week. Thats like a days wages.
Me: (*Thought to myself you make +80k per year...*)
Me: On a 10k investment that is a pretty small change.
CW: Its ok man I cannot take risks like that this is my retirement savings.
Me: I thought you said you didn't need the money?
CW: Ya, Not right now. I am not buying a car or anything this month.
Me: (*it is clear now why you are in your 50's and have only $10k savings*)
CW: I sold everything and put it into something called gold CD's. I read an article on FB that when Donald Trump starts nuclear war gold will be worth a lot.
Me: oh ok well I am glad you got it all figured. Sorry you lost $86 and some fees.

OMG, this is for real???

JAYSLOL

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Re: Overheard at Work
« Reply #20210 on: June 04, 2018, 10:43:38 PM »
He probably meant CFDs, which is, if you think about it, extra stupid because it combines the low returns of gold investments with the crisis vulnerability of bank bonds.

At least it is traded in USD instead of something worthless like physical gold ;P

You can't eat gold. That's why I have all my investments in chicken bouillon.

Chicken bullion? precious chicken.

I went panning in a river once, but didn't find any chicken nuggets.  Total waste of time.

JAYSLOL

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Re: Overheard at Work
« Reply #20211 on: June 04, 2018, 10:56:04 PM »
CW: Hey you know about investing stuff right?
Me: A little I guess.
CW: how is this mutual fund I have $10k in doing.
Me: well you invested $10k in 2010 and it is now 2018 so I'd say it is not doing very well.
CW: That is what I thought but I didn't lose any money so that is good.
Me: Well actually you lost money to inflation so there is that.
CW: But I didn't loose any money money right?
Me: No the dollar amount is virtually the same but the value is different now. You could have thrown it into an index fund and performed better over the years.
CW: Like the S&P 500? I want to invest in that can you show me how to do that? I don't really need the money anyways.

*Help the guy set up account, transfer the funds and buy a mix of stock and bond index funds.*
*made mistake of going on vacation for a week*

CW: What the heck man?
Me : oh whats that?
CW: I lost $86 on that investment last week. Thats like a days wages.
Me: (*Thought to myself you make +80k per year...*)
Me: On a 10k investment that is a pretty small change.
CW: Its ok man I cannot take risks like that this is my retirement savings.
Me: I thought you said you didn't need the money?
CW: Ya, Not right now. I am not buying a car or anything this month.
Me: (*it is clear now why you are in your 50's and have only $10k savings*)
CW: I sold everything and put it into something called gold CD's. I read an article on FB that when Donald Trump starts nuclear war gold will be worth a lot.
Me: oh ok well I am glad you got it all figured. Sorry you lost $86 and some fees.

Except for being in his 50s, this could be almost word-for-word describing conversations I've had with a friend who I got to open an investment account.  I'm not sure if he pulled out the money or not, but he sure wasn't happy with its performance this year. 

Linea_Norway

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Re: Overheard at Work
« Reply #20212 on: June 05, 2018, 02:11:10 AM »
One from last week:

I have a co-worker who is often scraping by, barely able to make ends meet, who makes the worst financial decisions. Past gems have included: courtside seats at an NBA game last year for her wife's birthday (to make memories...sadly her wife has alzheimers so it's horrible but she's probably not going to remember it), maintaining two vehicles, both with bad gas mileage (and possibly payments still?) even though her wife will never drive again, getting so hammered out at bars that she got into a fight or got assaulted or something but wasn't sure about the details because she blacked out, two expensive, high maintenance dogs with "doggy day care" on a regular basis (even though there is someone home during the day, she sends the dogs to "doggy day care" often because "they like it"), etc. The latest? $3000 on front row seats to see Pink in concert, plus t-shirt (because what's a t-shirt on top of $3000 I suppose). It's so painful to watch because prior to the diagnosis her wife was the "responsible" one and would at least keep their finances in marginal shape. Now it's a total shit-show, but she's not particularly open to advice.

Reminds me a bit of my FIL, while my MIL has dementia. FIL still owns 2 cars. The second one is parked at his son's house. Son doesn't have a driver's license, but his GF has. The idea is that they can use that car to drive and visit FIL with their child. To me it seems that FIL is just paying for the car, while the son and GF have good jobs.

FIL likes to take MIL driving in his car every day. He says she enjoyed it (in the beginning). Nowadays she usually falls asleep after a minute. At one time MIL opened the car door while driving 80 km/h. FIL stopped, door swayed forward and the hinge was broken. New door had to be put it.

I do get the point why someone would buy a concert ticket to a demented person. Even though the person won't remember the concert later, it will probably give a nice experience at that moment, if the artist is a familiar one from the past days.

Linea_Norway

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Re: Overheard at Work
« Reply #20213 on: June 05, 2018, 04:24:52 AM »
Me: I have a bit of threshold cycling to work. I rather walk. How about you, you live close to work as well? Do you ever cycle?
Co-worker: I don't ever cycle. I don't even own a bicycle.

The co-worker is a very sporty person.

FireHiker

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Re: Overheard at Work
« Reply #20214 on: June 05, 2018, 12:23:05 PM »
I do get the point why someone would buy a concert ticket to a demented person. Even though the person won't remember the concert later, it will probably give a nice experience at that moment, if the artist is a familiar one from the past days.

In theory I agree with you, but $3000 for front row seats when they don't have the money (seats were available MUCH, MUCH cheaper than that, but they always have to have "the best"), combined with the fact that her wife who has dementia is really uncomfortable in crowds and spent half the time cowering (co-worker said so) makes me sad.

MgoSam

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Re: Overheard at Work
« Reply #20215 on: June 05, 2018, 12:53:19 PM »
In the break room today I got to talking with someone who saw me preparing my morning oatmeal (fancy! With lots of frozen cherries and berries and peanut butter).

Im switching to Starbucks oatmeal from their breakfast sandwiches.

Me: oh, but oatmeal is so easy to do yourself.

Well, i am at Starbucks for my morning coffee so I switch from the breakfast sandwich to oatmeal. It is better for the health, you know.
That is so SF Bay. I have work acquaintances that spend $25 per day on coffee plus drinks and breakfast for the kids at Starbucks. $ adds up quickly.

Yeah, I shudder to imagine what my brother and his wife spend on their child. I remember reading about a bakery that has $4 slices of toast in the Bay area and mentioned it to his wife and she shrugged and said, "That's what things cost here."

ysette9

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Re: Overheard at Work
« Reply #20216 on: June 05, 2018, 04:19:51 PM »
As a Bay Area resident I disagree that toast just costs $4. Then again, I don’t really go out to eat toast. If I’m going out to eat I’m going to enjoy something that I can’t make myself at home. Sui Zhu Yu anyone?  Yum!

RyanAtTanagra

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Re: Overheard at Work
« Reply #20217 on: June 05, 2018, 04:41:27 PM »
As a Bay Area resident I disagree that toast just costs $4. Then again, I dont really go out to eat toast. If Im going out to eat Im going to enjoy something that I cant make myself at home. Sui Zhu Yu anyone?  Yum!

Agreed, it CAN cost that much, doesn't mean it has to.  I think some people just like paying high prices for stuff because it makes them feel... better, rich, trendy?  I dunno.  A friend of mine not in SF said she was talking to a friend of hers about how beers at the bar here are $8 and 'omg I can't believe you pay $8 for a beer'.  I said, 'well I COULD spend $8 for a beer, if I wanted, but you don't have to, and I don't.  I can also tell you where to find $2 PBRs and $3 draft microbrews in SF, too.'

nnls

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Re: Overheard at Work
« Reply #20218 on: June 06, 2018, 01:33:16 AM »
A guy at work just said he has spend $2500 on alcohol in the last 3 weeks. There was no special occasion in this period, just going out with mates

DS

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Re: Overheard at Work
« Reply #20219 on: June 06, 2018, 07:27:10 AM »
A guy at work just said he has spend $2500 on alcohol in the last 3 weeks. There was no special occasion in this period, just going out with mates

Vegas? Haha

Linea_Norway

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Re: Overheard at Work
« Reply #20220 on: June 06, 2018, 07:33:50 AM »
Preparing for a party for child that becomes of age ("konfirmasjon" in Norwegian):

Co-worker: "We are making so many cakes, we're going to have 1 cake per person."
Us: "Bring the remaining cakes to work the next day!"

Threshkin

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Re: Overheard at Work
« Reply #20221 on: June 06, 2018, 02:08:25 PM »
Preparing for a party for child that becomes of age ("konfirmasjon" in Norwegian):

Co-worker: "We are making so many cakes, we're going to have 1 cake per person."
Us: "Bring the remaining cakes to work the next day!"

Love how close many Norwegian words are to English.  konfirmasjon = confirmation
Not every word of course but with a good ear it is possible to figure out most of when people say, either direction.

This applies to many Northern European/Scandinavian languages.  (Not counting Finnish!)

nnls

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Re: Overheard at Work
« Reply #20222 on: June 06, 2018, 03:46:52 PM »
A guy at work just said he has spend $2500 on alcohol in the last 3 weeks. There was no special occasion in this period, just going out with mates

Vegas? Haha

no just in Perth, Australia.

TartanTallulah

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Re: Overheard at Work
« Reply #20223 on: June 07, 2018, 09:14:28 PM »
Me: I have a bit of threshold cycling to work. I rather walk. How about you, you live close to work as well? Do you ever cycle?
Co-worker: I don't ever cycle. I don't even own a bicycle.

The co-worker is a very sporty person.

I know lots of sporty people (athletics, mostly) who do not own a bicycle and will not own a bicycle in case they get sucked into the time and money pit called triathlon.

alewpanda

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Re: Overheard at Work
« Reply #20224 on: June 07, 2018, 09:31:31 PM »
A customer at our retail clothing store was talking about buying several items and hesitated, telling her friend something to the effect of "not wanting to spend too much money and having debt to pay off".

My coworking cheerily says "We will spend our whole lives in debt, so I just buy whatever the f-- I want!"

Customers laugh and agree.  Make their purchases.


I wanted so, so desperately to contradict my coworker....but in the moment I didn't even know how to respond.......

Hirondelle

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Re: Overheard at Work
« Reply #20225 on: June 07, 2018, 11:02:50 PM »
My coworker wants to move back to her old (HCOL) city as she misses her friends. This will mean a 2h+ one way commute, high travel costs that will only partially reimbursed and a $300 increase in rent!

Now I'm all for being close to family/friends, but there's not many wins in this one to me. She's only been here for a short time, I've only started to feel like I have friends around now which is the 7 month mark. I feel like she isn't even willing to try to build up a life here.

(no kids or partner involved, parents don't need care yet)

Linea_Norway

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Re: Overheard at Work
« Reply #20226 on: June 08, 2018, 01:44:34 AM »
My coworker wants to move back to her old (HCOL) city as she misses her friends. This will mean a 2h+ one way commute, high travel costs that will only partially reimbursed and a $300 increase in rent!

Now I'm all for being close to family/friends, but there's not many wins in this one to me. She's only been here for a short time, I've only started to feel like I have friends around now which is the 7 month mark. I feel like she isn't even willing to try to build up a life here.

(no kids or partner involved, parents don't need care yet)

Indeed, moving to a new place and given up within a year doesn't sound like trying very hard.

But I do think people are different. Some might need daily interaction with their friends, while others can cope with occasional contact. Otherwise she could just have visited them more often, that might have been a cheaper alternative.

Imma

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Re: Overheard at Work
« Reply #20227 on: June 08, 2018, 02:15:04 PM »
My coworker wants to move back to her old (HCOL) city as she misses her friends. This will mean a 2h+ one way commute, high travel costs that will only partially reimbursed and a $300 increase in rent!

Now I'm all for being close to family/friends, but there's not many wins in this one to me. She's only been here for a short time, I've only started to feel like I have friends around now which is the 7 month mark. I feel like she isn't even willing to try to build up a life here.

(no kids or partner involved, parents don't need care yet)

Indeed, moving to a new place and given up within a year doesn't sound like trying very hard.

But I do think people are different. Some might need daily interaction with their friends, while others can cope with occasional contact. Otherwise she could just have visited them more often, that might have been a cheaper alternative.

On one hand I know from experience that it takes a long time to properly settle somewhere, on the other hand I can imagine that sometimes you're just certain that you're never going to feel at home somewhere. I know I could never live in a place like Amsterdam. Just visiting kills me. I'm from a small town in the south and I guess I'm a small town girl through and through. On the other hand, I'm sure I could live in Hirondelle's city or the city I went to university.

A friend of mine is temporarily living around the corner for about a month and I get ridiculously happy that we can now meet spontaneously. In the nearly 10 years since I've left my hometown I've never had new friends that just turned up at my house like we used to do back home. It's only now that I realise how much I miss that.

talltexan

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Re: Overheard at Work
« Reply #20228 on: June 12, 2018, 08:43:12 AM »
When I was age 22, I budgeted about $5,000 for moving expenses from Texas to Illinois to start graduate school. At that time my net worth was about $10,000, not that I had ever thought of it like that. Looking at those numbers today, I'm embarrassed. At least I spent the next five years car-free!

Hula Hoop

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Re: Overheard at Work
« Reply #20229 on: June 12, 2018, 09:38:52 AM »
Coworker told me yesterday that she's on the South Beach Diet so she has to start cooking.  She's in her mid 50s, very overweight, single with no kids and apparently never learned how to cook. She previously complained to me that she was worried about ending up homeless in retirement due to her lack of retirement savings.  But I always saw her buying both breakfast and lunch in the cafeteria.  Apparently she was buying dinners too.

I had to explain to her how to cook steamed spinach.  She then told me that she didn't know how to cook any other vegetables either as previously she had just ordered them in restaurants.  Appaently the South Beach diet requires lots of steams veggies and grilled lean meats and she does not even know how to cook these so has to learn.

She told me that her mother was a SAHM and did all the cooking so none of the kids in the family had to learn how.  Sometimes I'm grateful that I was raised by a single mother who worked full time.  I was cooking dinner for me, my mother and my little sister at 13-14.




Just Joe

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Re: Overheard at Work
« Reply #20230 on: June 12, 2018, 10:46:02 AM »
With YouTube and "All Recipes" and the hundreds of thousands of free cooking websites/videos out there - none of us who can afford groceries have an excuse to eat badly at home. 

SpareChange

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Re: Overheard at Work
« Reply #20231 on: June 12, 2018, 11:20:42 AM »
Coworker. Late fifties. Great guy. Terrible with money, but he knows it. Bought a brand new fancy truck about 3 years ago. Told me the interest rate was 12%. Used it for his 40 minute commute. His wife drove a minicooper bought used. Fast forward to last year. Trades in his 2 year old truck for another brand new truck. Payments are over $600/mon. Also trades in his wife's minicooper, which was about to be paid off, for a brand new car (forget which model). Between payments, gas, and insurance alone, he's got to be shelling out over $1,000/mon just on the truck for basic transportation. Damn.

Just Joe

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Re: Overheard at Work
« Reply #20232 on: June 12, 2018, 12:41:02 PM »
Is your coworker complaining yet about not having the cash to go on vacation this summer?

FIRE@50

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Re: Overheard at Work
« Reply #20233 on: June 12, 2018, 12:46:58 PM »
With YouTube and "All Recipes" and the hundreds of thousands of free cooking websites/videos out there - none of us who can afford groceries have an excuse to eat badly at home.

I think I learned to cook by watching PBS. That is so old school.

o2bfree

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Just 7 more years
« Reply #20234 on: June 12, 2018, 02:04:36 PM »
A conversation with a coworker I haven't talked to in awhile started with a long intro about how her husband had to have an expensive new truck, so "mama got a new Honda". Then this:

She and her husband bought a house in Arizona. They like the weather better there, and are going to retire there. For now, they fly there a couple times a month to check up on the place and "recharge". How packing up, arranging pet care, and getting to and from airports for a 2-day trip can be recharging is beyond me. Let alone maintaining two homes.

Anyways, her husband really hates his job, but she told him "suck it up for 7 more years then we'll have the rest of our lives together". She's 57 and has had some potentially fatal health problems. Maybe they're holding out for Medicare, but it seems like a rather risky gamble time-wise when they probably could have managed their money differently and been retired now.

MgoSam

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Re: Just 7 more years
« Reply #20235 on: June 12, 2018, 02:21:16 PM »
they fly there a couple times a month to check up on the place and "recharge". How packing up, arranging pet care, and getting to and from airports for a 2-day trip can be recharging is beyond me. Let alone maintaining two homes.


Yikes! I have friends with a cabin and I do get envious that they get to go up seemingly anytime they want during warm weather days. It would be nice to get away. And then I realized the stress of having to maintain another home.

And with pets that would be even worse. I want to get a dog but can't due to my travel and work schedule (and many more reasons). I love how my cousin and other people are just like, "Bring it to doggie day dare." My cousin said that his place is "only $25 a day per dog." Yeah...no!


SupersavingMMM

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Re: Overheard at Work
« Reply #20236 on: June 12, 2018, 02:32:02 PM »
One of my favourite people at work, a genuinely lovely girl.

Complained about the cost of bottled water she had just bought and was drinking from.   We have a dispenser - chilled, free, all you can drink.

🤷🏼‍♀️

Gremlin

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Re: Just 7 more years
« Reply #20237 on: June 12, 2018, 05:12:20 PM »
Yikes! I have friends with a cabin and I do get envious that they get to go up seemingly anytime they want during warm weather days. It would be nice to get away. And then I realized the stress of having to maintain another home.


At one point before "enlightenment", Mrs Gremlin and I thought about buying a second place near the beach about an hour away.  We crunched the numbers and worked out that the cost of owning such a place would mean that we'd have to go there pretty much every weekend in order to come out ahead of doing a holiday let whenever we got the urge for a beach weekend away.  Needless to say, it very quickly became an easy decision not to buy!

Linea_Norway

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Re: Just 7 more years
« Reply #20238 on: June 13, 2018, 01:18:45 AM »
Yikes! I have friends with a cabin and I do get envious that they get to go up seemingly anytime they want during warm weather days. It would be nice to get away. And then I realized the stress of having to maintain another home.


At one point before "enlightenment", Mrs Gremlin and I thought about buying a second place near the beach about an hour away.  We crunched the numbers and worked out that the cost of owning such a place would mean that we'd have to go there pretty much every weekend in order to come out ahead of doing a holiday let whenever we got the urge for a beach weekend away.  Needless to say, it very quickly became an easy decision not to buy!

There has been a whole thread about whether having a cabin is a good idea. The conclusion is that the more simple the cabin is (off the grid, not garden, small), the cheaper it is and the least work to maintain. If the cabin becomes a second home, it is a lot of work and pricy.
We have a simple type of cabin, but with electricity and property tax on it and we pay approx 2000 USD a year for using it 30-40 days spread over the year. Not counting transportation cost.

Chris22

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Re: Just 7 more years
« Reply #20239 on: June 13, 2018, 07:42:49 AM »
Yikes! I have friends with a cabin and I do get envious that they get to go up seemingly anytime they want during warm weather days. It would be nice to get away. And then I realized the stress of having to maintain another home.


At one point before "enlightenment", Mrs Gremlin and I thought about buying a second place near the beach about an hour away.  We crunched the numbers and worked out that the cost of owning such a place would mean that we'd have to go there pretty much every weekend in order to come out ahead of doing a holiday let whenever we got the urge for a beach weekend away.  Needless to say, it very quickly became an easy decision not to buy!

There has been a whole thread about whether having a cabin is a good idea. The conclusion is that the more simple the cabin is (off the grid, not garden, small), the cheaper it is and the least work to maintain. If the cabin becomes a second home, it is a lot of work and pricy.
We have a simple type of cabin, but with electricity and property tax on it and we pay approx 2000 USD a year for using it 30-40 days spread over the year. Not counting transportation cost.

There's also other considerations.

For one, vacation property will not likely appreciate like the stock market, but it won't depreciate like a vacation (i.e. worth $0).  My wife's family has a cabin they bought in the 1980s for ~$100k in cash (plus probably another $100k over that time in property taxes), it's now worth ~$400k.  Yes, had they invested that money they'd have more than the $400k, but had they spent the same +/- $100k over the last 30 years renting it for $1k/wk 3x a year they'd have $0. 

Second, for a lot of people, a second home is a labor of love.  Hell, look at MMM, he loves to work with his hands, so much so that he basically retired to start a construction company.  It is not inconceivable that other people view the maintenance on their vacation home the same way; it's a project they can work on and they enjoy it.  Hell, my FIL basically invents work at his cabin so he can have stuff to work on up there because he can't just sit on the dock all day, he'd get bored; he's much happier working on the cabin. 

SpareChange

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Re: Overheard at Work
« Reply #20240 on: June 13, 2018, 09:19:12 AM »
Is your coworker complaining yet about not having the cash to go on vacation this summer?

Not yet. For a time he quit his job here last year to go to a place with a better work schedule. In the process he cashed out his 401k (about 80k), so I'm sure the tax bill was considerable. The place he went to ended up closing its doors 6 months later, and he ended up coming back here at reduced hours. He says he's got a ways to go on his mortgage as well. Wife is in mid sixties and works pt. He says she can't get SS, but might get a small pension.   

grandep

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Re: Overheard at Work
« Reply #20241 on: June 13, 2018, 04:08:00 PM »
Is your coworker complaining yet about not having the cash to go on vacation this summer?

Not yet. For a time he quit his job here last year to go to a place with a better work schedule. In the process he cashed out his 401k (about 80k), so I'm sure the tax bill was considerable. The place he went to ended up closing its doors 6 months later, and he ended up coming back here at reduced hours. He says he's got a ways to go on his mortgage as well. Wife is in mid sixties and works pt. He says she can't get SS, but might get a small pension.

Woof, cashing out an 80k 401k just to come back to the same job a year later? That's rough.

SpareChange

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Re: Overheard at Work
« Reply #20242 on: June 14, 2018, 12:28:46 AM »
Is your coworker complaining yet about not having the cash to go on vacation this summer?

Not yet. For a time he quit his job here last year to go to a place with a better work schedule. In the process he cashed out his 401k (about 80k), so I'm sure the tax bill was considerable. The place he went to ended up closing its doors 6 months later, and he ended up coming back here at reduced hours. He says he's got a ways to go on his mortgage as well. Wife is in mid sixties and works pt. He says she can't get SS, but might get a small pension.


Woof, cashing out an 80k 401k just to come back to the same job a year later? That's rough.

Yeah, and it was the only retirement he's got coming to him, other than SS. He'll be working quite a while longer. Unfortunately, he has some chronic health issues creeping in too.

Greenback Reproduction Specialist

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Re: Overheard at Work
« Reply #20243 on: June 14, 2018, 07:50:41 AM »
"First time it ever happened in baseball, they played it in slow motion and you can see it, they both went up for the ball and BOOM, both their crotches hit each others."

Lol WTF

Megma

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Re: Overheard at Work
« Reply #20244 on: June 14, 2018, 10:47:42 AM »
Overheard new CW tell other CW that she just called to setup the automatic contributions to her ROTH again, now that she is once again employed - all good.

The rep told her that her ROTH the money in her account hasn't been invested for the past 6(!) years, it's just being held in cash.

How have you not looked at any statement to notice that in the past 6 years? Wow.

katethekitcat

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Re: Overheard at Work
« Reply #20245 on: June 14, 2018, 10:54:47 AM »
Senior manager at my firm laughed in my face when I told him I want to retire by 45 (an extremely conservative estimate, but I knew he wouldn't believe anything earlier). Told me it was impossible, that markets often crashed, etc.

Over the next hour, conversation included showing pictures of his enormous pool, discussions of the new cars he regularly buys for family members, and complaining that a diamond he once bought for his wife turned out to be a fake and he then had to spend thousands MORE buying her a new (real) one.

Yeah, I couldn't have retired by 45 if I were him either.

Davnasty

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Re: Overheard at Work
« Reply #20246 on: June 14, 2018, 01:26:47 PM »
"First time it ever happened in baseball, they played it in slow motion and you can see it, they both went up for the ball and BOOM, both their crotches hit each others."

Lol WTF

Had to recall the name of this thread. This is appropriate. Also, I'm probably going to look for that video later.

ysette9

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Re: Overheard at Work
« Reply #20247 on: June 14, 2018, 02:30:58 PM »
Do you work at a junior high?

Feral Car Rescue

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Re: Overheard at Work
« Reply #20248 on: June 15, 2018, 03:53:52 PM »
So my company payroll system is a little weird starting out, such that it takes 3 weeks from your start date to receive your first paycheck (actually this has been standard at every company I've worked at, but several people I know say it's just the worst). But they tell you this up-front, plus they paid for all of your moving expenses, so I saved my paychecks from my previous job, and also used the cashout from my sick leave to hold me over til I got my next paycheck. It wasn't much, but it was enough to rent an apartment and drive me and my immediate family the 1800 miles to get to my new residence (I paid for us to have a Christmas trip, because I wasn't gonna be able to come home for the holidays), and buy food, etc.

Anyhoo. Was talking to a coworker at lunch, and somehow this awkward 3-week window of time came up. She and her husband didn't have a lot of money to come out here, so they had to use their credit card to make ends meet during that 3 week period. She mentioned she "wasn't allowed" to put any more on that card until she paid off what they had incurred during that 3 week period of time.

They moved here, to a LCOL area, 4 years ago... and their combined gross income is close to $150k...

firelight

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Re: Overheard at Work
« Reply #20249 on: June 15, 2018, 07:44:02 PM »
Wow! How much did they spend to move?