Author Topic: Overheard at Work  (Read 8902661 times)

JAYSLOL

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Re: Overheard at Work
« Reply #20250 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 #20251 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. 

Linda_Norway

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Re: Overheard at Work
« Reply #20252 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.

Linda_Norway

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Re: Overheard at Work
« Reply #20253 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 #20254 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 #20255 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 #20256 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 #20257 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 #20258 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

Still Being

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Re: Overheard at Work
« Reply #20259 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

Linda_Norway

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Re: Overheard at Work
« Reply #20260 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 #20261 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 #20262 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 #20263 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 #20264 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 #20265 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)

Linda_Norway

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Re: Overheard at Work
« Reply #20266 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 #20267 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 #20268 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 #20269 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 #20270 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 #20271 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 #20272 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 #20273 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 #20274 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 #20275 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 #20276 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 #20277 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!

Linda_Norway

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Re: Just 7 more years
« Reply #20278 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 #20279 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 #20280 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 #20281 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 #20282 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 #20283 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 #20284 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 #20285 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.

Dabnasty

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Re: Overheard at Work
« Reply #20286 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 #20287 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 #20288 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 #20289 on: June 15, 2018, 07:44:02 PM »
Wow! How much did they spend to move?

ysette9

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Overheard at Work
« Reply #20290 on: June 15, 2018, 07:55:49 PM »
When I was in undergrad I got a summer internship in another state. I drove out there, rented a room on Craigslist, and started working.
 It took the usual two weeks before a check got cut. A physical check went out for the first pay period. That got mailed to my parents’ house in my home state. They then had to mail it to me, and I had to then mail it to my bank in a third state (the dark days before mobile deposit). In all it was over a month before I saw any money and I was buying groceries on my credit card because I was a broke college student. That was the closest I’ve come to a bad situation. Thankfully I always had the privilege of knowing that if shit hit the fan, I could get my parents to loan me enough to keep myself fed. I also knew I never wanted to legitimately find myself in a position where I wasn’t sure whether I could buy groceries. Scary stuff.

Feral Car Rescue

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Re: Overheard at Work
« Reply #20291 on: June 15, 2018, 09:22:27 PM »
Wow! How much did they spend to move?
I was afraid to ask... And afraid of my response... I know moving can be expensive (The receipt that the moving company gave me for how much they charged my company was 26k!!!!) but as employees we weren't responsible for any of that, just hotel and gas to get to our work location, and even that was reimbursed a month or so after we started working. So this would be basic living expenses- apartment deposit, rent, groceries, maybe some housewares, etc. Totally get you might need to use a card that first month to take care of expenses before your paycheck hits, but 4 years?

auntie_betty

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Re: Just 7 more years
« Reply #20292 on: June 16, 2018, 03:33:29 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!

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.

For me, buying a vacation home was the worst financial mistake I ever made - the Spanish property market crashed and now, 10 years later, it's still only worth just over 1/2 what I paid for it.

And yet, the value is incalculable. The very first night we stayed there I sat on the terrace and watched the sun set over the mountain, then all the lights in the village on the hill come on. I decided there and then I didn't want it as a holiday home, I wanted to live there.

It took seven years of scrimping and saving every penny, minimum 3.5 hour commutes etc - but I retired at 53 (then we moved to the coast instead but I still miss my twinkling lights!). No way would I have been able to achieve it if I hadn't had something concrete to aim for.


Best financial mistake I ever made (and now we have long term tenants in holiday apartment).

eazyebeneezer

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Re: Overheard at Work
« Reply #20293 on: June 17, 2018, 04:32:59 PM »
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.

This is embarrassing. I did that for four years. Face palm. The thing is someone had told me I should choose a target date fund. Somewhere else on the website I selected my target date for retirement, but it wasn't for investment purposes, more like a calculator. When the balance was staying the same I was blissfully ignorant as to why. Finally figured it out when I started diving into the FI stuff. Yes, it was stupid, but nobody teaches you this stuff until you go learn it for yourself.

Siebrie

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Re: Overheard at Work
« Reply #20294 on: June 18, 2018, 04:34:01 AM »
My 62-year old colleague, working for my company as a freelance Accounting clerk/typist/processor/data entry/double-checker for the last 25 years, saw her contract terminated overnight.

We often had lunch together (brought from home), and our conversation often turned to her difficulties in paying-off her mortgage/social security contributions/etc. She and her partner had had a row of bad luck and bad financial choices, including not reading the market properly. For instance, her partner was offered to relocate to Belgium for work, which he accepted and they moved, a great adventure. However, within a year, the plant was closed. They had sold their house in the UK, and within two years, the buyers had sold it on for three times the buying price.

They stayed in Belgium, bought an apartment with a flexible interest rate, which was supposed to follow the market rate. However, it only went up (of course...): 5% after the first year, and another 5% after the second year. At a time where everyone has 2 or 3% mortgage rates, they have 14%! I told her to talk to the bank, and to take their mortgage elsewhere, but because they are both self-employed, making only little money, it is difficult to get a mortgage anywhere, and the bank won't budge.

They still have a few family members and friends in the UK, and like to visit twice a year. Eurostar (train) costs around 200 return, and they enjoy taking it. However, taking the ferry (boat) costs only 100-150 return. There is not much of a travel time difference.

With the limited funds they have, my colleague collects hat pins, her partner collects horror movies and horror fiction, together they collect choral sheet music (they used to sing in two choirs). They always buy, and never sell. I have suggested libraries, selling, secondhand sites, etc, but they buy to keep. And then buy the cupboards to keep the sheet music, and additional insurance because it's both valuable and a fire hazard..... If the newspaper article I saw last week is anything to go by, actual sheet music is destined to lose its value shortly, with orchestras moving to tablets.

She is 62, her partner about 55; she planned to work another few years until the mortgage was paid off. With Brexit looming, it is very unclear what (and if) the pensions will pay out. She has a British pension from the years she worked over there, she has a tiny Belgian pension from when she was employed, and a Belgian self-employed pension. She has not yet checked the conditions under which these will be paid out, nor has she checked under which conditions the State Pensions of the two countries will pay out. She is trusting the UK government to do what they should do, the decent thing.

It's both frustrating and fascinating. She is a very sweet person, and I feel very sorry for her.

Guesl982374

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Re: Overheard at Work
« Reply #20295 on: June 18, 2018, 07:57:18 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

no just in Perth, Australia.

Just wow...Depending on the cost of drinks (in HCOL USA anywhere from $7.50 to $20/drink) that's like 40-110 drinks / week or 6-16 drinks a day!! I think your CW might have a dependency problem....

Imma

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Re: Overheard at Work
« Reply #20296 on: June 18, 2018, 11:23:40 AM »
My 62-year old colleague, working for my company as a freelance Accounting clerk/typist/processor/data entry/double-checker for the last 25 years, saw her contract terminated overnight.

We often had lunch together (brought from home), and our conversation often turned to her difficulties in paying-off her mortgage/social security contributions/etc. She and her partner had had a row of bad luck and bad financial choices, including not reading the market properly. For instance, her partner was offered to relocate to Belgium for work, which he accepted and they moved, a great adventure. However, within a year, the plant was closed. They had sold their house in the UK, and within two years, the buyers had sold it on for three times the buying price.

They stayed in Belgium, bought an apartment with a flexible interest rate, which was supposed to follow the market rate. However, it only went up (of course...): 5% after the first year, and another 5% after the second year. At a time where everyone has 2 or 3% mortgage rates, they have 14%! I told her to talk to the bank, and to take their mortgage elsewhere, but because they are both self-employed, making only little money, it is difficult to get a mortgage anywhere, and the bank won't budge.

They still have a few family members and friends in the UK, and like to visit twice a year. Eurostar (train) costs around 200 return, and they enjoy taking it. However, taking the ferry (boat) costs only 100-150 return. There is not much of a travel time difference.

With the limited funds they have, my colleague collects hat pins, her partner collects horror movies and horror fiction, together they collect choral sheet music (they used to sing in two choirs). They always buy, and never sell. I have suggested libraries, selling, secondhand sites, etc, but they buy to keep. And then buy the cupboards to keep the sheet music, and additional insurance because it's both valuable and a fire hazard..... If the newspaper article I saw last week is anything to go by, actual sheet music is destined to lose its value shortly, with orchestras moving to tablets.

She is 62, her partner about 55; she planned to work another few years until the mortgage was paid off. With Brexit looming, it is very unclear what (and if) the pensions will pay out. She has a British pension from the years she worked over there, she has a tiny Belgian pension from when she was employed, and a Belgian self-employed pension. She has not yet checked the conditions under which these will be paid out, nor has she checked under which conditions the State Pensions of the two countries will pay out. She is trusting the UK government to do what they should do, the decent thing.

It's both frustrating and fascinating. She is a very sweet person, and I feel very sorry for her.

It's always so sad to see nice people make so many small errors of judgement that they end up in big trouble, and they probably don't even know where they went wrong.

I would suggest to your coworker to find out if it's even legal to pay 14% interest. I'm in NL and almost can't imagine it would be legal in here.

myrrh

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Re: Overheard at Work
« Reply #20297 on: June 18, 2018, 12:30:54 PM »
NOOOoooooo!!! You will take my paper music away from my cold dead hands. How can you mark up music on a tablet? How can you even see the notes with a tablet on a stand? How can you fit three pages of music on one stand so that you can play half the song without turning the page? Or does each person get three or four tablets? :P

Um. Back to the original subject. Coworker is planning on retiring this year. He's 70 and has been taking social security and will get a pension, but he bought a new car last winter and his wife bought a new car last summer.  His wife is 10 years younger and he elected to have her get 1/2 his pension once he passes. He says they'll be paying the mortgage until he's 90. It's not really my business but I wonder how it will work out.

Dollar Slice

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Re: Overheard at Work
« Reply #20298 on: June 18, 2018, 01:43:36 PM »
NOOOoooooo!!! You will take my paper music away from my cold dead hands. How can you mark up music on a tablet? How can you even see the notes with a tablet on a stand? How can you fit three pages of music on one stand so that you can play half the song without turning the page?

I see a lot of younger classical string players using them. (And one notable composer who will sit in the wings and follow along on his tablet to make sure no one fucks up his music.) They use a Bluetooth foot-operated thingy to turn the pages - tap your toe, the page turns. Works better for some instruments than others.

joleran

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Re: Overheard at Work
« Reply #20299 on: June 18, 2018, 02:39:23 PM »
NOOOoooooo!!! You will take my paper music away from my cold dead hands. How can you mark up music on a tablet? How can you even see the notes with a tablet on a stand? How can you fit three pages of music on one stand so that you can play half the song without turning the page? Or does each person get three or four tablets? :P

Not only can you easily mark up the music in various ways, the tablet will automatically recognize what you are playing and flip the pages for you.