Author Topic: Overheard at Work  (Read 9122918 times)

onlykelsey

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Re: Overheard at Work
« Reply #21050 on: October 22, 2018, 01:13:04 PM »
Having dinner while on work travel with some higher-ups:

"I keep bouncing back between 2 and 5 years left before I can manage to retire.  Every time I think I'm getting close to be able to handle it, something happens and I'm back up to 5 years."
- General Manager, late 50s/early 60s, pulling in over half a million in salary+benefits (I know this for a fact)

"I've probably got at least 20 years left before I can manage it."
- Principal Engineer, mid-40s, earning about $250k in salary

I am continually baffled by where upper middle class/upper class people are spending all of their money.  If they have no interest in retirement, that's one thing, but these are people who claim that they would like to retire.
To be fair, general retirement knowledge says if you're earning those sorts of salaries, you better have $10 million to retire, and pay for all your kids' school and college and grad school and sports and and and...  I bet a fair number of high earners actually COULD retire if they ran the 4% (or 3% or whatever) rule on their balance sheet, it just hasn't occurred to them.

Arbitrage

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Re: Overheard at Work
« Reply #21051 on: October 22, 2018, 01:34:12 PM »
Having dinner while on work travel with some higher-ups:

"I keep bouncing back between 2 and 5 years left before I can manage to retire.  Every time I think I'm getting close to be able to handle it, something happens and I'm back up to 5 years."
- General Manager, late 50s/early 60s, pulling in over half a million in salary+benefits (I know this for a fact)

"I've probably got at least 20 years left before I can manage it."
- Principal Engineer, mid-40s, earning about $250k in salary

I am continually baffled by where upper middle class/upper class people are spending all of their money.  If they have no interest in retirement, that's one thing, but these are people who claim that they would like to retire.
To be fair, general retirement knowledge says if you're earning those sorts of salaries, you better have $10 million to retire, and pay for all your kids' school and college and grad school and sports and and and...  I bet a fair number of high earners actually COULD retire if they ran the 4% (or 3% or whatever) rule on their balance sheet, it just hasn't occurred to them.

I agree.  However, I wasn't about to start giving that kind of advice to my boss's boss's boss.  :-)

Linda_Norway

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Re: Overheard at Work
« Reply #21052 on: October 22, 2018, 11:56:43 PM »
Having dinner while on work travel with some higher-ups:

"I keep bouncing back between 2 and 5 years left before I can manage to retire.  Every time I think I'm getting close to be able to handle it, something happens and I'm back up to 5 years."
- General Manager, late 50s/early 60s, pulling in over half a million in salary+benefits (I know this for a fact)

"I've probably got at least 20 years left before I can manage it."
- Principal Engineer, mid-40s, earning about $250k in salary

I am continually baffled by where upper middle class/upper class people are spending all of their money.  If they have no interest in retirement, that's one thing, but these are people who claim that they would like to retire.
To be fair, general retirement knowledge says if you're earning those sorts of salaries, you better have $10 million to retire, and pay for all your kids' school and college and grad school and sports and and and...  I bet a fair number of high earners actually COULD retire if they ran the 4% (or 3% or whatever) rule on their balance sheet, it just hasn't occurred to them.

I agree.  However, I wasn't about to start giving that kind of advice to my boss's boss's boss.  :-)

Some people have a guaranteed pension from the age of 67 of 66% of their salary of the best 10 years. Pretty good for Mustachian standards. But they think that is very low and get nervous.

One of my co-workers told me the following. He had for 15 years been living in a rental apartment in a fancy part of the capital, paying only 10% of normal market rent. When the apartment got upgraded and the rent was adjusted to normal rate, he had to move out. This was maybe a decade ago. Now he had only one financial goal in life and that was being debt free at retirement.

Linda_Norway

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Re: Overheard at Work
« Reply #21053 on: October 23, 2018, 03:57:21 AM »
Co-worker 1 (27 years old): "When I applied for this job, I didn't look at the pension they offered. Pensions are just not interesting.
Me: But when you are 67, you will receive only (approximately) 50% or your current salary in pension. Will you be able to handle that? (FYI: In our country we don't have 401s and IRAs).
Co.worker 1: I just want to live and have fun! Not thinking about pensions like co-worker 3 wants me to do.

Co-worker 2 (41 years old): I would also like to work 80% (like me). Not right now, but when I have paid down some more debt.

mountain mustache

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Re: Overheard at Work
« Reply #21054 on: October 24, 2018, 06:43:23 PM »
overheard today: "Oh, I sold my motorcycle yesterday!" (his "spare"). I said "that's great, making extra money is always nice" to which he responded, "yeah, now I'm going to go buy a big truck!"....seriously?!? He complains multiple times a week about not making enough money, about how many expenses he and his wife (dual income, no kids) have...and he's going to go buy a Tundra. He (and all of my other co workers) are also always giving me a hard time about saving any money for retirement because "life is short, have fun for as long as you can!"

Slee_stack

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Re: Overheard at Work
« Reply #21055 on: October 25, 2018, 12:29:36 PM »
overheard today: "Oh, I sold my motorcycle yesterday!" (his "spare"). I said "that's great, making extra money is always nice" to which he responded, "yeah, now I'm going to go buy a big truck!"....seriously?!? He complains multiple times a week about not making enough money, about how many expenses he and his wife (dual income, no kids) have...and he's going to go buy a Tundra. He (and all of my other co workers) are also always giving me a hard time about saving any money for retirement because "life is short, have fun for as long as you can!"
Big Ass Truck FTW!

Just Joe

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Re: Overheard at Work
« Reply #21056 on: October 25, 2018, 12:51:28 PM »
And don't forget that neighborhoods built without streetlights and sidewalks are alot cheaper than the "deluxe package" with those items.

Around here I was told the average property developer is/was responsible for all these things initially and then the city or county would take over the maintenance if it was constructed to code. I guess the average developer here wants to build on the cheap if buyers aren't demanding sidewalks.

Nobody walks, nobody bikes - we are all supposed to load up the family hauler and go to the mall and then out to eat. -eye roller-

Ugh.  There''s some busybody in town advocating that the city put sidewalks in my neighborhood and then assess homeowners.  Her house, of course, wouldn't be affected because she already has a sidewalk.
Sidewalks should be paid for by the city, for residences, when not part of the a development permit.

We went through this several years ago. Neighbor circulated a petition to have street lights added all over our semi-rural neighborhood. Nothing came of it b/c apparently we collectively prefer the dark. Besides as the town grows there is unfortunately enough light pollution to see the pavement many nights.

I might have signed on to pretty old fashioned cast iron street lights that were dim and created a nice warm shadowy light but I know what we would have gotten - typical street lights with buzzy transformers and sodium bulbs (?) that cast an unappealing light all over. No thanks.

AMandM

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Re: Overheard at Work
« Reply #21057 on: October 25, 2018, 02:01:31 PM »
overheard today: "Oh, I sold my motorcycle yesterday!" (his "spare"). I said "that's great, making extra money is always nice" to which he responded, "yeah, now I'm going to go buy a big truck!"....seriously?!? He complains multiple times a week about not making enough money, about how many expenses he and his wife (dual income, no kids) have...and he's going to go buy a Tundra. He (and all of my other co workers) are also always giving me a hard time about saving any money for retirement because "life is short, have fun for as long as you can!"

OK, not everyone is into early retirement. I understand that someone would, in the name of fun, prefer a higher-spending, longer-working life. But I don't understand people who advocate for more "fun" when that costs so much present stress.  I mean, really, who's having more fun?  The guy who thinks his income is inadequate and his expenses are too high, or the one who's confident that he'll be financially secure all his life?

LennStar

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Re: Overheard at Work
« Reply #21058 on: October 26, 2018, 02:50:34 AM »
overheard today: "Oh, I sold my motorcycle yesterday!" (his "spare"). I said "that's great, making extra money is always nice" to which he responded, "yeah, now I'm going to go buy a big truck!"....seriously?!? He complains multiple times a week about not making enough money, about how many expenses he and his wife (dual income, no kids) have...and he's going to go buy a Tundra. He (and all of my other co workers) are also always giving me a hard time about saving any money for retirement because "life is short, have fun for as long as you can!"

OK, not everyone is into early retirement. I understand that someone would, in the name of fun, prefer a higher-spending, longer-working life. But I don't understand people who advocate for more "fun" when that costs so much present stress.  I mean, really, who's having more fun?  The guy who thinks his income is inadequate and his expenses are too high, or the one who's confident that he'll be financially secure all his life?

You confuse fun with the feeling of secureness.
Money does not make happy (or fun for most people), but it calms tremendously.

mountain mustache

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Re: Overheard at Work
« Reply #21059 on: October 26, 2018, 07:45:31 AM »
overheard today: "Oh, I sold my motorcycle yesterday!" (his "spare"). I said "that's great, making extra money is always nice" to which he responded, "yeah, now I'm going to go buy a big truck!"....seriously?!? He complains multiple times a week about not making enough money, about how many expenses he and his wife (dual income, no kids) have...and he's going to go buy a Tundra. He (and all of my other co workers) are also always giving me a hard time about saving any money for retirement because "life is short, have fun for as long as you can!"

OK, not everyone is into early retirement. I understand that someone would, in the name of fun, prefer a higher-spending, longer-working life. But I don't understand people who advocate for more "fun" when that costs so much present stress.  I mean, really, who's having more fun?  The guy who thinks his income is inadequate and his expenses are too high, or the one who's confident that he'll be financially secure all his life?

You confuse fun with the feeling of secureness.
Money does not make happy (or fun for most people), but it calms tremendously.

This, exactly. I don't see myself as denying fun to save money. More, I see how I feel more secure, and happy, and enjoy my free time more, and one could even say I have *more* fun now that I am on the path to being financially secure=less worrying.

auntie_betty

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Re: Overheard at Work
« Reply #21060 on: October 27, 2018, 08:30:36 AM »
overheard today: "Oh, I sold my motorcycle yesterday!" (his "spare"). I said "that's great, making extra money is always nice" to which he responded, "yeah, now I'm going to go buy a big truck!"....seriously?!? He complains multiple times a week about not making enough money, about how many expenses he and his wife (dual income, no kids) have...and he's going to go buy a Tundra. He (and all of my other co workers) are also always giving me a hard time about saving any money for retirement because "life is short, have fun for as long as you can!"

To which, the answer is "yep, it IS too short. That's why I'm not working a day more than necessary".

ryan5432

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Re: Overheard at Work
« Reply #21061 on: October 27, 2018, 05:23:04 PM »
Today, I was filling out an application. They required 4 forms of identity to prove I am a Colorado resident. One of those was car registration in my name. What an assumption I own a car!

BFive55

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Re: Overheard at Work
« Reply #21062 on: October 28, 2018, 09:56:48 AM »
I work for the government. So I know what people hired after me get paid because we're all on the same pay scale.

This one guy I know has been there about two years. He had a motorcycle and an expensive car. The monthly payments were over $1,000 total. My car payment was less than $175 and I hated paying that much (I had put like $5,000 down) and I paid my car off early.

This in combination with a house he was paying for which cost more than mine. I would have been getting sick at the mortgage + car payments and I make more (I have seniority, so I was making about $12,000 more plus my overtime rate was higher and I worked more overtime).

The saving grace of this situation is that we have very good pensions and the pension obligations are automatically deducted from our paychecks. So even with the outrageous spending he'd still have a very decent retirement with like an 85% pension.

Steeze

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Re: Overheard at Work
« Reply #21063 on: October 28, 2018, 02:24:15 PM »
My co-worker won a lottery for low-income housing.
His rent is stabilized at 2300$/mo. for a 1br.

Low income in NYC is weird.

SmoothUpperLip

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Re: Overheard at Work
« Reply #21064 on: October 30, 2018, 06:52:52 PM »
Deeply unpleasant colleague who is just earning over the minimum wage passive-aggressive humble bragging about her rich sister and brother-in-law:

'No, you can't live off the interest on a million pounds. My sister has got a million pounds sat in a bank account and with the current interest rates it will only earn her £13,000 interest this year.'

This made me thinks of two things:

1) If you are smart enough to make (or grow) a million, why would you invest it in such a poor way?
2) In the UK, should the bank with which you have invested your money go under, each customer is only guaranteed the return of the first £85,000 of their money by the Financial Services Compensation Scheme, so anyone investing more than that amount in any one financial institution is a fool.

Alfred J Quack

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Re: Overheard at Work
« Reply #21065 on: October 31, 2018, 04:22:47 AM »
Deeply unpleasant colleague who is just earning over the minimum wage passive-aggressive humble bragging about her rich sister and brother-in-law:

'No, you can't live off the interest on a million pounds. My sister has got a million pounds sat in a bank account and with the current interest rates it will only earn her £13,000 interest this year.'

This made me thinks of two things:

1) If you are smart enough to make (or grow) a million, why would you invest it in such a poor way?
2) In the UK, should the bank with which you have invested your money go under, each customer is only guaranteed the return of the first £85,000 of their money by the Financial Services Compensation Scheme, so anyone investing more than that amount in any one financial institution is a fool.
13k per year is still 1.3% interest. Since my banks only pay 0.3 and 0.1% so she is definitely doing something other than a basic savings account, maybe fixed term savings?

On the rest, I definitely agree. But you have to be careful too because a few internet banks offer a higher interest but operate under the same license as the main bank (which in Holland means you only get max 100k restituted of the combined sum of savings on all banks under the same license).

The funny thing about my investment company though is that by law their operating firm is financially seperated from the investment collective. Should the firm go bankrupt the investments are still 100% ours. The firm gets "payed" a fee by the collective to manage their money, any more money gets wired and the local equivalent of the IRS is on their doorstep.
Should they want to be malicious they can be of course but this setup makes it a lot harder for them to achieve that.

Hirondelle

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Re: Overheard at Work
« Reply #21066 on: October 31, 2018, 04:32:32 AM »
Deeply unpleasant colleague who is just earning over the minimum wage passive-aggressive humble bragging about her rich sister and brother-in-law:

'No, you can't live off the interest on a million pounds. My sister has got a million pounds sat in a bank account and with the current interest rates it will only earn her £13,000 interest this year.'

This made me thinks of two things:

1) If you are smart enough to make (or grow) a million, why would you invest it in such a poor way?
2) In the UK, should the bank with which you have invested your money go under, each customer is only guaranteed the return of the first £85,000 of their money by the Financial Services Compensation Scheme, so anyone investing more than that amount in any one financial institution is a fool.
13k per year is still 1.3% interest. Since my banks only pay 0.3 and 0.1% so she is definitely doing something other than a basic savings account, maybe fixed term savings?


As your location tells me you're in the Netherlands and the poster posted the money sums in pounds I assume they have higher interest rates for regular savings accounts there? If I look at some of the numbers of the US folks here across the ocean they're definitely higher so I wouldn't be too surprised if this was true across the canal too :)

Alfred J Quack

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Re: Overheard at Work
« Reply #21067 on: October 31, 2018, 06:10:07 AM »
Deeply unpleasant colleague who is just earning over the minimum wage passive-aggressive humble bragging about her rich sister and brother-in-law:

'No, you can't live off the interest on a million pounds. My sister has got a million pounds sat in a bank account and with the current interest rates it will only earn her £13,000 interest this year.'

This made me thinks of two things:

1) If you are smart enough to make (or grow) a million, why would you invest it in such a poor way?
2) In the UK, should the bank with which you have invested your money go under, each customer is only guaranteed the return of the first £85,000 of their money by the Financial Services Compensation Scheme, so anyone investing more than that amount in any one financial institution is a fool.
13k per year is still 1.3% interest. Since my banks only pay 0.3 and 0.1% so she is definitely doing something other than a basic savings account, maybe fixed term savings?


As your location tells me you're in the Netherlands and the poster posted the money sums in pounds I assume they have higher interest rates for regular savings accounts there? If I look at some of the numbers of the US folks here across the ocean they're definitely higher so I wouldn't be too surprised if this was true across the canal too :)
Checked Barclays, 0.75% with 100k+ savings. Still not 1.3%, but granted that interest varies more than I expected. The 0.3% I mentioned was the highest interest in Holland a few months back, it's likely to drop in the negatives of the banks keep going.

chaskavitch

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Re: Overheard at Work
« Reply #21068 on: October 31, 2018, 09:02:16 AM »
This isn't a comedic thing so much as a sad thing, but it's a coworker, so it goes here.

I have a coworker, married with three small kids, whose family has had a lot of health issues and hospital visits this year.  They keep getting turned away from Urgent Care and sent to the Emergency room for some reason, for things I feel like Urgent Care should really be able to handle.

The problem is, they signed up for our HDHP for 2018, but DIDN'T OPEN AN HSA.  I just found this out during our open enrollment meeting this week.

Our company contributes $2000 over the course of the year to your HSA if you have a family plan, regardless of if you add any money yourselfTWO THOUSAND DOLLARS!!!!!!!!  I think they didn't realize that they had to go through the paperwork and open an account to get the money, so they've been paying full (maybe insurance discounted) price for multiple ER visits, at least one hospital admission, and a bunch of other small chronic things, without using any tax advantaged funds or free money from our employer.  I feel so bad.  If I'd known they didn't have an HSA opened earlier in the year, I could have told them to open one and helped them with it.  You're allowed to change or update your contribution amount at any time, and it would have helped them SO much to get that extra money.
« Last Edit: October 31, 2018, 09:50:39 AM by chaskavitch »

david_shin

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Re: Overheard at Work
« Reply #21069 on: October 31, 2018, 09:40:07 AM »
Just re-upped our agreements for 2019 for benefits.

Had a coworker proudly tell me, "I just opt out of everything, including the 401(k), so that I can do what I want with my money"

Oh boy. Been here for 1.5 years and still haven't told a soul that I max out 401(k) and HSA as fast as I possibly can.

Alfred J Quack

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Re: Overheard at Work
« Reply #21070 on: October 31, 2018, 12:31:46 PM »
Just re-upped our agreements for 2019 for benefits.

Had a coworker proudly tell me, "I just opt out of everything, including the 401(k), so that I can do what I want with my money"

Oh boy. Been here for 1.5 years and still haven't told a soul that I max out 401(k) and HSA as fast as I possibly can.
Did he also say what he wanted? Or is it basically the same consumerist dream getting fulfilled by whimsical purchases using borrowed money on his over-leveraged accounts as every other?

I think it's a terrible excuse to ignore your future for no other reason than to gratify your present self... Yes, there is some self loathing in there because I have some impuls control issues due to a concussion which have led to some, ah, unnecessary purchases. No debt though, thankfully.

wild forest

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Re: Overheard at Work
« Reply #21071 on: October 31, 2018, 12:35:32 PM »
Having dinner while on work travel with some higher-ups:

"I keep bouncing back between 2 and 5 years left before I can manage to retire.  Every time I think I'm getting close to be able to handle it, something happens and I'm back up to 5 years."
- General Manager, late 50s/early 60s, pulling in over half a million in salary+benefits (I know this for a fact)

"I've probably got at least 20 years left before I can manage it."
- Principal Engineer, mid-40s, earning about $250k in salary

I am continually baffled by where upper middle class/upper class people are spending all of their money.  If they have no interest in retirement, that's one thing, but these are people who claim that they would like to retire.

I think if these people don't hit a brick wall, they would not understand the concept of frugality. I mean, if their habits and life styles are in the high ends dining, Mercedez, boat, and international vacations; how can they go back to a $2.00 homemade Ham sandwich!?

Sound to me like the majority of these people are irresponsible spenders, which is good for the economy I guess. Because if the don't spend money on cars and CC, business will slow down. And if business slow down, that won't be good for the economy as whole and the market will tank, which is also bad for your investments :-). Imagine if all of your co-workers, neighbors, and friends are Mr. and Mrs. Mustachians, car dealerships probably won't stay in business for long :-). 

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Re: Overheard at Work
« Reply #21072 on: October 31, 2018, 01:03:24 PM »
overheard today: "Oh, I sold my motorcycle yesterday!" (his "spare"). I said "that's great, making extra money is always nice" to which he responded, "yeah, now I'm going to go buy a big truck!"....seriously?!? He complains multiple times a week about not making enough money, about how many expenses he and his wife (dual income, no kids) have...and he's going to go buy a Tundra. He (and all of my other co workers) are also always giving me a hard time about saving any money for retirement because "life is short, have fun for as long as you can!"

To which, the answer is "yep, it IS too short. That's why I'm not working a day more than necessary".

My sentiments exactly.

SunnyDays

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Re: Overheard at Work
« Reply #21073 on: October 31, 2018, 06:37:43 PM »
When I was still working (retired 2 years), I had a co-worker (30 years old) who said she had been dreaming about retiring since she started working, at around age 22.  Same woman who spent $40,000 renovating her kitchen, ate lunch out EVERY work day, to the tune of about $15.00 per day, (yup, overweight) and hired a house cleaner while she spent 4 HOURS a night reading.  Then she wants to only work 4 days per week because it's just too much to do 5 days in a row.  Not allowed, so she went down to half-time and started her own part-time business.  Not sure how that went, as I left soon after, but she gave up a great defined benefits pension and an excellent benefits package.  Yikes!

a286

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Re: Overheard at Work
« Reply #21074 on: October 31, 2018, 06:54:59 PM »
This isn't a comedic thing so much as a sad thing, but it's a coworker, so it goes here.

I have a coworker, married with three small kids, whose family has had a lot of health issues and hospital visits this year.  They keep getting turned away from Urgent Care and sent to the Emergency room for some reason, for things I feel like Urgent Care should really be able to handle.

The problem is, they signed up for our HDHP for 2018, but DIDN'T OPEN AN HSA.  I just found this out during our open enrollment meeting this week.

Our company contributes $2000 over the course of the year to your HSA if you have a family plan, regardless of if you add any money yourselfTWO THOUSAND DOLLARS!!!!!!!!  I think they didn't realize that they had to go through the paperwork and open an account to get the money, so they've been paying full (maybe insurance discounted) price for multiple ER visits, at least one hospital admission, and a bunch of other small chronic things, without using any tax advantaged funds or free money from our employer.  I feel so bad.  If I'd known they didn't have an HSA opened earlier in the year, I could have told them to open one and helped them with it.  You're allowed to change or update your contribution amount at any time, and it would have helped them SO much to get that extra money.
Ack. Ours puts in $500 for a single person or $1k for a family, and $25 if you have a pet (pet food company). Here I just upped my contributions for the rest of the year because I had to lower my 401k contribution so I wouldnt go over

Sugaree

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Re: Overheard at Work
« Reply #21075 on: November 01, 2018, 06:30:43 AM »
The only single guy in the office is talking about how he's started getting one of those meal delivery services and how awesome it is.  I did the quick math on it and it seems he's spending at least $50/week for three meals.  Supposedly, it's actually 6 servings total, but the way he eats I don't see there being much in the way of leftovers (I've seen him eat an entire large pizza by himself in one sitting).  That's insane.  I spend just a bit over that feeding three people for seven days a week.

mountain mustache

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Re: Overheard at Work
« Reply #21076 on: November 01, 2018, 07:09:41 AM »
The only single guy in the office is talking about how he's started getting one of those meal delivery services and how awesome it is.  I did the quick math on it and it seems he's spending at least $50/week for three meals.  Supposedly, it's actually 6 servings total, but the way he eats I don't see there being much in the way of leftovers (I've seen him eat an entire large pizza by himself in one sitting).  That's insane.  I spend just a bit over that feeding three people for seven days a week.

several of my co workers do one of those meal delivery services, well it delivers a box of "ingredients" which you cook to their recipe. I think it's $50-$60 a week for 4 meals. I got a free box from one of them, and I literally ate all of the food in 2 meals, and I'm a pretty small lady! I can't imagine how my coworker and his wife make it last for all 4 meals. Also, there is so much waste, everything is individually packaged in plastic, and I thought the recipes were terrible....I tallied up how much $$ it would be to just have the ingredients to make the meals, and it was embarrassingly less than $20 to make all 4 meals, and still have ingredients left over since I wouldn't be just buying "1tbs of garlic, 1 tbs balsamic vinegar, etc"

Sugaree

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Re: Overheard at Work
« Reply #21077 on: November 01, 2018, 07:27:57 AM »
The only single guy in the office is talking about how he's started getting one of those meal delivery services and how awesome it is.  I did the quick math on it and it seems he's spending at least $50/week for three meals.  Supposedly, it's actually 6 servings total, but the way he eats I don't see there being much in the way of leftovers (I've seen him eat an entire large pizza by himself in one sitting).  That's insane.  I spend just a bit over that feeding three people for seven days a week.

several of my co workers do one of those meal delivery services, well it delivers a box of "ingredients" which you cook to their recipe. I think it's $50-$60 a week for 4 meals. I got a free box from one of them, and I literally ate all of the food in 2 meals, and I'm a pretty small lady! I can't imagine how my coworker and his wife make it last for all 4 meals. Also, there is so much waste, everything is individually packaged in plastic, and I thought the recipes were terrible....I tallied up how much $$ it would be to just have the ingredients to make the meals, and it was embarrassingly less than $20 to make all 4 meals, and still have ingredients left over since I wouldn't be just buying "1tbs of garlic, 1 tbs balsamic vinegar, etc"


And now with being able to order my groceries online and have them picked and delivered to my car, I don't even really have to grocery shop anymore.  About the only time I could possibly see this being something I was interested in would be if I were going on vacation.  I might like to have some meals delivered to my AirBnB.  It would be cheaper than eating out a lot and I wouldn't have to feel bad about throwing out a whole bunch of leftover ingredients when I went home.  But as an ongoing thing?  Never.

david_shin

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Re: Overheard at Work
« Reply #21078 on: November 01, 2018, 09:54:59 AM »
Just re-upped our agreements for 2019 for benefits.

Had a coworker proudly tell me, "I just opt out of everything, including the 401(k), so that I can do what I want with my money"

Oh boy. Been here for 1.5 years and still haven't told a soul that I max out 401(k) and HSA as fast as I possibly can.
Did he also say what he wanted? Or is it basically the same consumerist dream getting fulfilled by whimsical purchases using borrowed money on his over-leveraged accounts as every other?

I think it's a terrible excuse to ignore your future for no other reason than to gratify your present self... Yes, there is some self loathing in there because I have some impuls control issues due to a concussion which have led to some, ah, unnecessary purchases. No debt though, thankfully.

Honestly not sure. I should have asked her what she's doing with that extra cash. If I had to guess she's 1) paying off her and her husbands student loans or 2) saving up to buy a new Jeep because she's a "Jeep" person or 3) saving $ to buy a house

But really no clue. I'll try and follow up because now I'm genuinely curious.

shackleford

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Re: Overheard at Work
« Reply #21079 on: November 01, 2018, 10:41:30 AM »
Checked Barclays, 0.75% with 100k+ savings. Still not 1.3%, but granted that interest varies more than I expected. The 0.3% I mentioned was the highest interest in Holland a few months back, it's likely to drop in the negatives of the banks keep going.

You can get up to 1.5% in easy access savings accounts in the UK right now.  Over 2% if you fix for a year or more. 
« Last Edit: November 01, 2018, 10:44:04 AM by shackleford »

mustachepungoeshere

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Re: Overheard at Work
« Reply #21080 on: November 01, 2018, 10:19:55 PM »
A colleague was seated next to a financial counsellor at a conference yesterday.

The counsellor said she had one client who ordered Uber Eats 92 times in a month.

ಠ_ಠ

ketchup

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Re: Overheard at Work
« Reply #21081 on: November 01, 2018, 10:21:49 PM »
A colleague was seated next to a financial counsellor at a conference yesterday.

The counsellor said she had one client who ordered Uber Eats 92 times in a month.

ಠ_ಠ
what is this i don't even

dragoncar

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Re: Overheard at Work
« Reply #21082 on: November 01, 2018, 10:54:16 PM »
A colleague was seated next to a financial counsellor at a conference yesterday.

The counsellor said she had one client who ordered Uber Eats 92 times in a month.

ಠ_ಠ
what is this i don't even

are you twelve years old?

marty998

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Re: Overheard at Work
« Reply #21083 on: November 02, 2018, 12:52:51 AM »
A colleague was seated next to a financial counsellor at a conference yesterday.

The counsellor said she had one client who ordered Uber Eats 92 times in a month.

ಠ_ಠ
what is this i don't even

are you twelve years old?

Lol like whatever.

if there are 93 meals in a 31 day month, I would like to know what the Uber Eater does for the 1 meal they don't order.

mustachepungoeshere

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Re: Overheard at Work
« Reply #21084 on: November 02, 2018, 12:56:38 AM »
A colleague was seated next to a financial counsellor at a conference yesterday.

The counsellor said she had one client who ordered Uber Eats 92 times in a month.

ಠ_ಠ
what is this i don't even

are you twelve years old?

Lol like whatever.

if there are 93 meals in a 31 day month, I would like to know what the Uber Eater does for the 1 meal they don't order.

... what if it was a 30-day month?

*Marty's head explodes*

marty998

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Re: Overheard at Work
« Reply #21085 on: November 02, 2018, 01:01:17 AM »
A colleague was seated next to a financial counsellor at a conference yesterday.

The counsellor said she had one client who ordered Uber Eats 92 times in a month.

ಠ_ಠ
what is this i don't even

are you twelve years old?

Lol like whatever.

if there are 93 meals in a 31 day month, I would like to know what the Uber Eater does for the 1 meal they don't order.

... what if it was a 30-day month?

*Marty's head explodes*

I would guess this person has a really really intense crush on the really really shy delivery boy but she is just really really shy too so she keeps ordering until he maybe one day gets the hint.

JLee

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Re: Overheard at Work
« Reply #21086 on: November 02, 2018, 06:00:43 AM »
Checked Barclays, 0.75% with 100k+ savings. Still not 1.3%, but granted that interest varies more than I expected. The 0.3% I mentioned was the highest interest in Holland a few months back, it's likely to drop in the negatives of the banks keep going.

You can get up to 1.5% in easy access savings accounts in the UK right now.  Over 2% if you fix for a year or more.

1.9% at Ally Bank in the US now.

ducky19

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Re: Overheard at Work
« Reply #21087 on: November 02, 2018, 08:21:41 AM »
Checked Barclays, 0.75% with 100k+ savings. Still not 1.3%, but granted that interest varies more than I expected. The 0.3% I mentioned was the highest interest in Holland a few months back, it's likely to drop in the negatives of the banks keep going.

You can get up to 1.5% in easy access savings accounts in the UK right now.  Over 2% if you fix for a year or more.

1.9% at Ally Bank in the US now.

Getting 2.25% at Citizens Access now, $5k min deposit but no fees.

Aelias

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Re: Overheard at Work
« Reply #21088 on: November 02, 2018, 09:51:29 AM »
I was talking to my boss about an upcoming trip to Vietnam in two weeks (!!!) for a friend's wedding, and she asked if we were flying "freight" and I said, "Of course!  What, do you think I'm made of money?"

And she said, "Well, you never know.  People might have a secret stash.  No secret stash for you, I guess."

And the hilarious thing is we absolutely do have a secret stache. We have said stache because we don't spend money on shit like business class flights.

She's going to be really confused when I retire before she does.

DS

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Re: Overheard at Work
« Reply #21089 on: November 02, 2018, 11:24:04 AM »
I was talking to my boss about an upcoming trip to Vietnam in two weeks (!!!) for a friend's wedding, and she asked if we were flying "freight" and I said, "Of course!  What, do you think I'm made of money?"

And she said, "Well, you never know.  People might have a secret stash.  No secret stash for you, I guess."

And the hilarious thing is we absolutely do have a secret stache. We have said stache because we don't spend money on shit like business class flights.

She's going to be really confused when I retire before she does.

Could be a good actress with a secret stash!

Debts_of_Despair

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Re: Overheard at Work
« Reply #21090 on: November 02, 2018, 05:25:40 PM »
I was talking to my boss about an upcoming trip to Vietnam in two weeks (!!!) for a friend's wedding, and she asked if we were flying "freight" and I said, "Of course!  What, do you think I'm made of money?"


Are you talking about regular economy seats or something else?  I've never heard of this.

BlueHouse

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Re: Overheard at Work
« Reply #21091 on: November 02, 2018, 06:01:05 PM »
Co-worker bought first place - a condo.  Everything about it seemed like a really bad deal, but I didn't want to say too much negative about it.  He feels very confident in his ability to make financial decisions, but turned out to be very inexperienced in negotiating ANYTHING. 
Bought it from a flipper and felt like this was a positive.  It started out that everything was exactly as wanted.  Had no knowledge or interest in learning about the incentives flippers have to cut corners, so there wasn't much investigation done there. 
In the past few months, windows have been replaced, plumbing has had to be repaired, wood trim is being replaced due to many layers of paint looking spongy and not neat.  Now he wants to redo the kitchen and the bath. 
What was the point of buying a "flipped" unit if you don't like the cosmetic parts?

Freedomin5

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Re: Overheard at Work
« Reply #21092 on: November 03, 2018, 07:39:21 AM »
My work has an “employee bonding event” coming up. It’s a full day trip to a neighboring tourist city and on the itinerary is a scenic bus tour and all-you-can-eat seafood buffet including all-you-can-eat local seafood delicacy. Everyone is encouraged to participate. But...it’s SELF-PAY.

Oh, and it’s on a weekend so we are using our (uncompensated) personal time. They’re not even telling us how much we might expect to pay for the privilege of doing this work-related activity on our personal time.  Well, guess who just happens to not be available on that date?

Linda_Norway

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Re: Overheard at Work
« Reply #21093 on: November 03, 2018, 07:48:08 AM »
My work has an “employee bonding event” coming up. It’s a full day trip to a neighboring tourist city and on the itinerary is a scenic bus tour and all-you-can-eat seafood buffet including all-you-can-eat local seafood delicacy. Everyone is encouraged to participate. But...it’s SELF-PAY.

Oh, and it’s on a weekend so we are using our (uncompensated) personal time. They’re not even telling us how much we might expect to pay for the privilege of doing this work-related activity on our personal time.  Well, guess who just happens to not be available on that date?

That is a really bad deal. When we recently had abonding trip, we went to a hotel, 2 working days. Hotel and meals were covered by the company, although I don't know about the drinks just before and after dinner. My boss servered bubble wine in her room to the women before dinner.

DH recently had a conference which was on Friday and Saturday. The Saturday and the Thursday evening on the train did not count as working hours. Also a half bad deal. But that's the deal som companies have for conferences.

Inrecently travelled to Berlin for a conference. When I travel to abroad, my travel hours outside business hours only count for half an hour paid working time. I earlier made the big mistake of travelling on Sunday afternoon and getting 5 hours delay on the airport. Now I planned my travel so that I do my whole trip within normal working hours so that one hour travel is one paid working hour.
« Last Edit: November 03, 2018, 07:52:21 AM by Linda_Norway »

Roadrunner53

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Re: Overheard at Work
« Reply #21094 on: November 03, 2018, 07:48:41 AM »
My work has an “employee bonding event” coming up. It’s a full day trip to a neighboring tourist city and on the itinerary is a scenic bus tour and all-you-can-eat seafood buffet including all-you-can-eat local seafood delicacy. Everyone is encouraged to participate. But...it’s SELF-PAY.

Oh, and it’s on a weekend so we are using our (uncompensated) personal time. They’re not even telling us how much we might expect to pay for the privilege of doing this work-related activity on our personal time.  Well, guess who just happens to not be available on that date?


What a cheap ass company that would expect the employees to pay for this experience. These team building things are supposed to be company sponsored. I never liked company picnics or holiday parties. There is always someone who gets drunk and ends up being gossiped about for the rest of their employment. It never fails you will hear "haha, remember when Simon got drunk at one of our holiday parties?". I actually did go to a holiday party where some woman pushed another woman into the indoor swimming pool! Nothing good happens at off hour company gatherings! I would NOT go either. So, sorry, I am SOOOO busy on weekends.

ketchup

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Re: Overheard at Work
« Reply #21095 on: November 03, 2018, 08:46:02 PM »
My work has an “employee bonding event” coming up. It’s a full day trip to a neighboring tourist city and on the itinerary is a scenic bus tour and all-you-can-eat seafood buffet including all-you-can-eat local seafood delicacy. Everyone is encouraged to participate. But...it’s SELF-PAY.

Oh, and it’s on a weekend so we are using our (uncompensated) personal time. They’re not even telling us how much we might expect to pay for the privilege of doing this work-related activity on our personal time.  Well, guess who just happens to not be available on that date?
Yeah, that's a bad joke.  Do it during a workday or at LEAST have the company pay for that shit.  Who the hell is going to attend that?

Freedomin5

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Re: Overheard at Work
« Reply #21096 on: November 04, 2018, 02:16:11 AM »
My work has an “employee bonding event” coming up. It’s a full day trip to a neighboring tourist city and on the itinerary is a scenic bus tour and all-you-can-eat seafood buffet including all-you-can-eat local seafood delicacy. Everyone is encouraged to participate. But...it’s SELF-PAY.

Oh, and it’s on a weekend so we are using our (uncompensated) personal time. They’re not even telling us how much we might expect to pay for the privilege of doing this work-related activity on our personal time.  Well, guess who just happens to not be available on that date?
Yeah, that's a bad joke.  Do it during a workday or at LEAST have the company pay for that shit.  Who the hell is going to attend that?

There are five people signed up so far. I’m guessing those are the people vying for good end of year reviews and promotions.

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Re: Overheard at Work
« Reply #21097 on: November 05, 2018, 08:44:28 AM »
My work has an “employee bonding event” coming up. It’s a full day trip to a neighboring tourist city and on the itinerary is a scenic bus tour and all-you-can-eat seafood buffet including all-you-can-eat local seafood delicacy. Everyone is encouraged to participate. But...it’s SELF-PAY.

Oh, and it’s on a weekend so we are using our (uncompensated) personal time. They’re not even telling us how much we might expect to pay for the privilege of doing this work-related activity on our personal time.  Well, guess who just happens to not be available on that date?
Yeah, that's a bad joke.  Do it during a workday or at LEAST have the company pay for that shit.  Who the hell is going to attend that?

There are five people signed up so far. I’m guessing those are the people vying for good end of year reviews and promotions.

Could be.

Over the weekend I attended a gala and silent auction for a friend's PTA. (Yeah-- most of my social activities revolve around charitable ventures. It's a family thing.) Historically this PTA has funded most of the supplies for students' science projects, bought a bunch of equipment for classes ranging from the library to Phys Ed, provided computer support for all the students, and generated an annual $200 "mini-grant" for each classroom so that no teacher has to pay so much as a cent out of pocket for classroom supplies. This charter school, a type of public school, is ranked highly at a national level and produces outstanding students with a high scholarship and college acceptance rate. Students consistently outperform those at even the most selective private schools.

In most respects the event was very well run. The organizers kept their operating costs low but still put on a good party. They got a deal on the venue, the wine, and the finger food. There were dozens of silent auction items that were well presented, and the auctioneer who auctioned off the major items was an excellent professional who saw to it that the reserve price was met. Sadly, although it was standing room only in previous years, the ticket sales were lean this year. Only two teachers and faculty members showed up. Although the event made enough money to cover the expenses of putting it on, the event didn't generate the revenue it did in previous years. The attendance was the only reason why. If you have bodies in the room, you get bids. No bodies? No bids.

At a silent auction or charity auction, you need bids because the point is not for the people bidding to get a bargain. The goal is to get people into an ego competition so that the value of each item gets bid up well past its usual sale price, resulting in a sizable benefit to the organizing charity. Sometimes it turns into a game in which people who try to run the bid up as high as they can without actually buying the item-- a grown-up version of "hot potato" that is actually quite fun. Other times, people bid on items they need, want, and can use (such as vehicle care vouchers for an oil change or a tire rotation) and get them for approximately market value. They bid up to the market value, and then stop. If they win the auction, they have an item they already budgeted for and needed to buy anyway. If they don't win the auction, so what? They showed up, they enjoyed the wine and the finger food, and they got to chat with people they know or ought to know.

When you don't get attendance, you don't get bids. Most items went for well below their market value. All the reserve prices were met for the major items, but nothing got bid up.

Given the extent to which the teachers benefit from this program, I truly expected more to attend. But then I got to thinking that this kind of event must be an awful bore and an extension of a classroom job that the teachers don't necessarily like. Interacting with parents and members of the community might not be a way they want to spend an evening. Of course, most of the parents didn't attend either.

I wonder how they'll deal with not having the funding the next year.

I'm a red panda

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Re: Overheard at Work
« Reply #21098 on: November 05, 2018, 08:51:07 AM »

Given the extent to which the teachers benefit from this program, I truly expected more to attend. But then I got to thinking that this kind of event must be an awful bore and an extension of a classroom job that the teachers don't necessarily like. Interacting with parents and members of the community might not be a way they want to spend an evening. Of course, most of the parents didn't attend either.

I wonder how they'll deal with not having the funding the next year.

But why would teacher's attend? Like you said, auctions mean you pay way more than something is worth, so you can donate the money to a cause. (Um, I was just at an event where my table paid $3,000 for a homemade cake for our dessert...)   Teacher's are going to end up funding the classroom anyway. Why bother donating through this event?

It's parents who need to be attending these things.


(I used to work at a University who wanted 100% employee participation in the "philanthropy" event. Which was giving to the University.  Um, no thank you. The University should give to me- in form of a paycheck.  Thankfully, Children's Miracle Network for the hospital was included in University giving, so I didn't ruin it for my department by not donating. But I wasn't going to donate to the college that employeed me!)

ixtap

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Re: Overheard at Work
« Reply #21099 on: November 05, 2018, 09:00:29 AM »
My work has an “employee bonding event” coming up. It’s a full day trip to a neighboring tourist city and on the itinerary is a scenic bus tour and all-you-can-eat seafood buffet including all-you-can-eat local seafood delicacy. Everyone is encouraged to participate. But...it’s SELF-PAY.

Oh, and it’s on a weekend so we are using our (uncompensated) personal time. They’re not even telling us how much we might expect to pay for the privilege of doing this work-related activity on our personal time.  Well, guess who just happens to not be available on that date?
Yeah, that's a bad joke.  Do it during a workday or at LEAST have the company pay for that shit.  Who the hell is going to attend that?

There are five people signed up so far. I’m guessing those are the people vying for good end of year reviews and promotions.

Could be.

Over the weekend I attended a gala and silent auction for a friend's PTA. (Yeah-- most of my social activities revolve around charitable ventures. It's a family thing.) Historically this PTA has funded most of the supplies for students' science projects, bought a bunch of equipment for classes ranging from the library to Phys Ed, provided computer support for all the students, and generated an annual $200 "mini-grant" for each classroom so that no teacher has to pay so much as a cent out of pocket for classroom supplies. This charter school, a type of public school, is ranked highly at a national level and produces outstanding students with a high scholarship and college acceptance rate. Students consistently outperform those at even the most selective private schools.

In most respects the event was very well run. The organizers kept their operating costs low but still put on a good party. They got a deal on the venue, the wine, and the finger food. There were dozens of silent auction items that were well presented, and the auctioneer who auctioned off the major items was an excellent professional who saw to it that the reserve price was met. Sadly, although it was standing room only in previous years, the ticket sales were lean this year. Only two teachers and faculty members showed up. Although the event made enough money to cover the expenses of putting it on, the event didn't generate the revenue it did in previous years. The attendance was the only reason why. If you have bodies in the room, you get bids. No bodies? No bids.

At a silent auction or charity auction, you need bids because the point is not for the people bidding to get a bargain. The goal is to get people into an ego competition so that the value of each item gets bid up well past its usual sale price, resulting in a sizable benefit to the organizing charity. Sometimes it turns into a game in which people who try to run the bid up as high as they can without actually buying the item-- a grown-up version of "hot potato" that is actually quite fun. Other times, people bid on items they need, want, and can use (such as vehicle care vouchers for an oil change or a tire rotation) and get them for approximately market value. They bid up to the market value, and then stop. If they win the auction, they have an item they already budgeted for and needed to buy anyway. If they don't win the auction, so what? They showed up, they enjoyed the wine and the finger food, and they got to chat with people they know or ought to know.

When you don't get attendance, you don't get bids. Most items went for well below their market value. All the reserve prices were met for the major items, but nothing got bid up.

Given the extent to which the teachers benefit from this program, I truly expected more to attend. But then I got to thinking that this kind of event must be an awful bore and an extension of a classroom job that the teachers don't necessarily like. Interacting with parents and members of the community might not be a way they want to spend an evening. Of course, most of the parents didn't attend either.

I wonder how they'll deal with not having the funding the next year.

Teachers already pay for so much, why would you expect them to want to pay more to do their jobs??