Author Topic: Overheard at Work  (Read 13252962 times)

Elderwood17

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Re: Overheard at Work
« Reply #4700 on: October 15, 2014, 06:44:18 AM »
My boss was fired today.  We got paid on Monday, and we get paid 2 weeks ahead.  So my worked asked for the 2 weeks prepayment back.

My now ex-boss is refusing to give them the money back.  Considering he ate out for breakfast and lunch every day, he probably needs it.  Good for him, I guess?
You get paid ahead of time?  That's interesting.  They would never recover that money from employees at my job.

We have a major problem when people turn in their notice then run up big bills on their payroll deduction at the cafeteria.  The payroll deduct system posts what you charge one month after the charge, so people take advantage of it.  They get mailed a bill but I never stand from our HR folks they rarely collect.

Caella

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Re: Overheard at Work
« Reply #4701 on: October 15, 2014, 07:23:26 AM »
Little backstory for context:

Six months ago I changed jobs to a much more formal one.
Sure enough, I had no formal clothes at all, since I never needed them.

Having no idea at all on how to dress formal or what to buy, I asked for a coworker friend of mine for some help, and she showed me some stores and gave me some guidelines on what to buy and how to combine things. I then bought six shirts and three pants (more than enough for a week of work, wash in the weekend and use again next week).

So, yesterday she asked me (not for the first time, i must say) if I didn't want to buy new clothes again, that she would help me choose (yep, I'm TOTALLY incompetent, and if left to me I would never wear anything different than comfy tennis shoes, jeans and T-shirts).

Me: No, the clothes are good as new, there's no need for new clothes yet.
She: You need to renew your wardrobe!
Me: But the clothes aren't not even a year old, they're perfectly good!
She: And you only buy clothes when the old aren't good anymore?
Me: Obviously?! o.o

...and she stopped talking to me since then.

seanc0x0

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Re: Overheard at Work
« Reply #4702 on: October 15, 2014, 08:28:23 AM »
I've only had one credit card transaction declined, which was an expensive specialty part from a small company in the US. They weren't set up for it to be done online, and entered it at a terminal. Given that it was a $4800 hit, entered on a terminal manually in another company, I'm fine with it! I called the company and it was sorted out.

As far as travel, whenever I'm going out of the country, I call my CC company and tell them I'm travelling, and where I'll be. So far, no problems!

Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

GuitarStv

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Re: Overheard at Work
« Reply #4703 on: October 15, 2014, 08:53:26 AM »
Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

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Re: Overheard at Work
« Reply #4704 on: October 15, 2014, 09:09:17 AM »
To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

I'll say that I usually prefer putting business expenses on my rewards card, and get reimbursed within a month. It's like free money!!

That being said,  I agree it should be an option only, not required.

seanc0x0

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Re: Overheard at Work
« Reply #4705 on: October 15, 2014, 09:13:01 AM »
To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

Never thought of that, as nowhere I've ever worked fronted travel expenses. I personally don't mind since I get cash back on my card. We do get paid promptly once the expense claim is submitted (a few days, unless there's an irregularity).

You can get a travel card, just by asking though. I've never bothered.

eyePod

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Re: Overheard at Work
« Reply #4706 on: October 15, 2014, 09:20:33 AM »
This is more of a comment of the work work work culture.
My company kind of sucks.  We haven't been doing well, are trying to get funding or get bought.  We have had rounds of layoffs, then we hire new people in at market rate, but our existing (and more useful) employees get paid peanuts.
So our morale is in the toilet.

Saw a coworker on my lunch walk - haven't seen him in awhile.  He wanted to know what I know.  I don't know anything - he works in the building with the big wigs. Well, HE thinks things are terrible, lots of closed door meetings, nobody is going to buy us, etc. etc.  Well I said "I've been job hunting, haven't found the right fit yet.  Of course, I could always stay home with the kids for a few years."

His response (same as everyone's response) "NO! Don't do it!  You will never work again!  It's impossible to find a job if you've been out of work awhile!"
Okay, well, maybe.
But so?
Work work work work.

Remember, they locked themselves into monthly payments which requires lots of cash flow!

Fuzzy Buttons

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Re: Overheard at Work
« Reply #4707 on: October 15, 2014, 09:21:09 AM »
When I have had a CC declined (which happened twice this year), it had nothing to do with funds.  It had to do with them deciding that the purchase couldn't possibly be me.  Like when I was on a business trip to another state and decided to buy a bottle of fancy tequila from an admittedly shady liquor store that the cabby recommended on our way to the airport.  Annoying, but better than identity theft, so I play along and just pull out another form of payment.

Last year my mother's credit card was frozen after she paid for my father's funeral expenses.  Got declined later that day when she was attempting to buy some picture frames for the memorial service.  Just had to call and confirm the charge was really her, and she handled it really well.  But of all the times to have to deal with that kindof thing.  :(

eyePod

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Re: Overheard at Work
« Reply #4708 on: October 15, 2014, 09:25:32 AM »
Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

I just did the exact opposite to get the points! :-D

klystomane

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Re: Overheard at Work
« Reply #4709 on: October 15, 2014, 09:47:53 AM »
When I have had a CC declined (which happened twice this year), it had nothing to do with funds.  It had to do with them deciding that the purchase couldn't possibly be me.  Like when I was on a business trip to another state and decided to buy a bottle of fancy tequila from an admittedly shady liquor store that the cabby recommended on our way to the airport.  Annoying, but better than identity theft, so I play along and just pull out another form of payment.

Last year my mother's credit card was frozen after she paid for my father's funeral expenses.  Got declined later that day when she was attempting to buy some picture frames for the memorial service.  Just had to call and confirm the charge was really her, and she handled it really well.  But of all the times to have to deal with that kindof thing.  :(

First off, sorry to hear of the loss of your father; I think I'll personally be a wreck when that day comes.

In all seriousness (and no offense intended to anybody), is having a funeral considered Mustachian?

Are there different levels of a Mustachian funeral like there is for a wedding? If MMM advocates no wedding ring, does he also support not having a casket?

dragoncar

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Re: Overheard at Work
« Reply #4710 on: October 15, 2014, 10:28:40 AM »

Oh and by the way, I just discovered this site a couple of weeks ago, and I just now completed all 93 pages of reading in this thread.  It was way more entertaining than anything else I was doing. :)  You guys are awesome.

I'm pretty sure there's a medal available for that. Welcome to MMM.



My boss was fired today.  We got paid on Monday, and we get paid 2 weeks ahead.  So my worked asked for the 2 weeks prepayment back.

My now ex-boss is refusing to give them the money back.  Considering he ate out for breakfast and lunch every day, he probably needs it.  Good for him, I guess?
You get paid ahead of time?  That's interesting.  They would never recover that money from employees at my job.

We have a major problem when people turn in their notice then run up big bills on their payroll deduction at the cafeteria.  The payroll deduct system posts what you charge one month after the charge, so people take advantage of it.  They get mailed a bill but I never stand from our HR folks they rarely collect.

My wife just started at a job where she gets paid monthly, after the fact.  There's an option to get an "advance" halfway through the month for 1/3 of her paycheck.  Uh, assholes that's not an "advance" that's just a regular paycheck that's 1/6 too small.  I wonder why anyone would choose NOT to take this "advance".

Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

I just did the exact opposite to get the points! :-D

I love using my card for work expenses, especially when there's 5% back on restaurants, etc.  But my office usually pays me back before the credit card due date.  I know many other people who have had problems getting their employer to pay them back on time -- not due to lack of funds, just bureaucracy.  I agree with GuitarStv that employers really SHOULD front the bill - either issue a corporate card or direct bill - at least for large expenses such as flights, hotels, car rentals, etc.
« Last Edit: October 15, 2014, 10:31:56 AM by dragoncar »

RyanAtTanagra

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Re: Overheard at Work
« Reply #4711 on: October 15, 2014, 10:33:28 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.

Also, who the hell even has a truck in SF. That doesn't seem to frugal to me, I have no interest in ever having a vehicle

Heh agreed, he says he needs it for surfing.  He's in the sunset now so it's not a big deal, but he's trying to move in further and having a hard time finding places with free/cheap parking.  I keep telling him to just get rid of it, it'll make finding a place way easier, but 'i'll never not have a car' etc.  At least it's a 10+ year old S10, but there's no frugal/non-pain-in-the-ass way to have a car in this city unless you're out far enough to have plenty of free parking.

eyePod

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Re: Overheard at Work
« Reply #4712 on: October 15, 2014, 11:17:35 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?

gimp

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Re: Overheard at Work
« Reply #4713 on: October 15, 2014, 11:22:06 AM »
Quote
I've stumbled 3 miles home before and didn't even consider a cab.

The beer scooter is real, man. Three miles ain't shit when you're drunk.

seanc0x0

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Re: Overheard at Work
« Reply #4714 on: October 15, 2014, 11:29:30 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?

Maybe for you. I'd wager you're less likely to kill/maim someone else by walking drunk though.

RyanAtTanagra

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Re: Overheard at Work
« Reply #4715 on: October 15, 2014, 11:30:16 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?

http://freakonomics.com/2011/12/28/the-perils-of-drunk-walking/

I hadn't read that before.  Interesting, maybe I'll be a little quicker to grab a cab ;-)  Although it's probably harder to admit/realize you're 'too drunk to walk' than it is 'too drunk to drive'.

voidmain

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Re: Overheard at Work
« Reply #4716 on: October 15, 2014, 11:46:02 AM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.

Getting home when drunk > 2 miles away is about the only situation I'll ever take a cab

Timmmy

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Re: Overheard at Work
« Reply #4717 on: October 15, 2014, 12:27:08 PM »
I'm in SF and I get shit for being frugal from my coworkers from time to time. Like they'll want to take an Uber/Lyft to go somewhere, I say I'll take the bus to meet them there.

I get the same thing from coworkers when I meet them out :-)  Cab is the absolute last option for me.  I've stumbled 3 miles home before and didn't even consider a cab.


Didn't Freakonomics talk about how it's a lot more dangerous to drunk walk than drunk drive?

http://freakonomics.com/2011/12/28/the-perils-of-drunk-walking/

I hadn't read that before.  Interesting, maybe I'll be a little quicker to grab a cab ;-)  Although it's probably harder to admit/realize you're 'too drunk to walk' than it is 'too drunk to drive'.

My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home. 

Albert

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Re: Overheard at Work
« Reply #4718 on: October 15, 2014, 12:38:22 PM »
I have never taken a cab in Switzerland (very expensive and we have superb public transport), but I've been to plenty of places where that is the best option. That's not counting business trips when I just don't care too much about the cost.

gimp

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Re: Overheard at Work
« Reply #4719 on: October 15, 2014, 12:43:38 PM »
My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home.

Your old roommate is a cunt. :)

SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

RyanAtTanagra

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Re: Overheard at Work
« Reply #4720 on: October 15, 2014, 01:09:05 PM »
SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

People worry about that one way too much here.  I hardly ever get stabbed when walking home drunk.

Timmmy

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Re: Overheard at Work
« Reply #4721 on: October 15, 2014, 01:19:28 PM »
My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home.

Your old roommate is a cunt. :)

SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

Taking this way off topic but he came home one time absolutely piss drunk all pissed off.  It took me several minutes to calm him down and figure out what was going on.  Turns out he got stopped by the police for turning left out of the bar parking lot when it was posted right turn only.  They gave him a ticket for, wait for it...  "Disobeying a traffic control device"

dragoncar

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Re: Overheard at Work
« Reply #4722 on: October 15, 2014, 02:28:44 PM »
My old roommate believed that walking was a lot harder than driving.  If he was sober enough to find/walk to the car he was sober enough to drive home.

Your old roommate is a cunt. :)

SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

Taking this way off topic but he came home one time absolutely piss drunk all pissed off.  It took me several minutes to calm him down and figure out what was going on.  Turns out he got stopped by the police for turning left out of the bar parking lot when it was posted right turn only.  They gave him a ticket for, wait for it...  "Disobeying a traffic control device"

I was almost run over by a garbage truck going the wrong way down a one-way street while running a red light.  But at least I wasn't drunk.

trailrated

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Re: Overheard at Work
« Reply #4723 on: October 15, 2014, 02:41:19 PM »
SF is a very walkable city. Walking drunk is fun. Just, you know, try not to get stabbed.

People worry about that one way too much here.  I hardly ever get stabbed when walking home drunk.

Ahahahaha that made my day

manonfire1007

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Re: Overheard at Work
« Reply #4724 on: October 16, 2014, 01:13:28 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

Melody

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Re: Overheard at Work
« Reply #4725 on: October 16, 2014, 06:29:59 AM »
Well I guess youn dont work with any sensible doctors because at half a mil a year they're all retired ;)
Had a great overheard a work today... coworker needed to go to the pysio because his kneemwas causing him problems but couldn't afford to go because he had no sick leave left. I wasn't sure what was worse... we get 10 sick days a year and they accumulate indefinitely,  so I can barely comprehend how they would run out, or not being able to loose 5% of your monthly pay cheque!

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Re: Overheard at Work
« Reply #4726 on: October 16, 2014, 07:38:16 AM »
Some of the doctors could be holding onto their mortgages strategically if they got a really low interest rate.  If they don't mind the additional risk, holding a 3% mortgage while investing in the stock market could yield them a much better return.

Rollin

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Re: Overheard at Work
« Reply #4727 on: October 16, 2014, 08:06:02 AM »
Had an offsite work meeting last week, which most folks had to travel to.  It took two hotel vans and a personal car to shuttle folks to the office...  across the street.

Incredible.

Was that due to their sloth, perception of poor safety, or bad land use/pedestrian planning?

Rollin

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Re: Overheard at Work
« Reply #4728 on: October 16, 2014, 08:10:30 AM »
Put to prevent this thread from getting too foamy,  here's something on topic.

+1  - that works!

dragoncar

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Re: Overheard at Work
« Reply #4729 on: October 16, 2014, 09:19:32 AM »
Some of the doctors could be holding onto their mortgages strategically if they got a really low interest rate.  If they don't mind the additional risk, holding a 3% mortgage while investing in the stock market could yield them a much better return.

They could be, but doctors are notoriously bad with money.  There must be something about living like a pauper into your late 20s/early 30s before making a shit ton

Cheddar Stacker

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Re: Overheard at Work
« Reply #4730 on: October 16, 2014, 09:36:17 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.

boarder42

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Re: Overheard at Work
« Reply #4731 on: October 16, 2014, 09:49:31 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.

Yeah having a house paid off isn't a necessity esp. at today's interest rates.  I would argue it would take you longer to reach FI if you paid off your house vs. investing the money.  (and based on historical avg's i'd win)

Pooperman

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Re: Overheard at Work
« Reply #4732 on: October 16, 2014, 09:55:56 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.

Yeah having a house paid off isn't a necessity esp. at today's interest rates.  I would argue it would take you longer to reach FI if you paid off your house vs. investing the money.  (and based on historical avg's i'd win)

If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

dragoncar

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Re: Overheard at Work
« Reply #4733 on: October 16, 2014, 10:07:29 AM »
I work with doctors of one sort or another. Many are in thier 50s and 60s. Some have life circumstances that contribute to this, but 0 docs that I know have thier houses paid off. There's no way I'm getting to that stage with a mortgage. Some of these guys make half mil a year.

I plan to carry a mortgage well into retirement. Different strokes and all, you know.

Yeah having a house paid off isn't a necessity esp. at today's interest rates.  I would argue it would take you longer to reach FI if you paid off your house vs. investing the money.  (and based on historical avg's i'd win)

If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

Or just simulate your mortgage payment ending partway into retirement.  I think cfiresim has this option

Cheddar Stacker

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Re: Overheard at Work
« Reply #4734 on: October 16, 2014, 10:07:44 AM »
If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

I think I get what you're saying but there are ways around "over-saving". Example:

Annual spend without mortgage = $40,000
Annual spend with mortgage = $50,000
Years left on mortgage = 8
Stache needed to cover FI today using exactly a 4% SWR = $1,080,000 ($1M + excess cash needed ($10K) for 8 years)

If you can calculate this and everything else makes sense, you've saved exactly what you need, no under or over saving, and you still have a mortgage into FIRE.

lifejoy

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Re: Overheard at Work
« Reply #4735 on: October 16, 2014, 10:49:04 AM »

If you pay off your house in FI, you'll be over the FI line by whatever the monthly payment is (you've over-saved). If you pay if off before, you've lost money that could have been gaining money for you so it takes longer (under-saved relatively). The correct thing is probably to have your mortgage end the day you FI. You're not undercutting yourself nor oversaving (not that over-saving is bad). For knife-edge FI perfection, having house payed off causing you to be FI exactly makes the most sense to me.

I think I get what you're saying but there are ways around "over-saving". Example:

Annual spend without mortgage = $40,000
Annual spend with mortgage = $50,000
Years left on mortgage = 8
Stache needed to cover FI today using exactly a 4% SWR = $1,080,000 ($1M + excess cash needed ($10K) for 8 years)

If you can calculate this and everything else makes sense, you've saved exactly what you need, no under or over saving, and you still have a mortgage into FIRE.

Question: say you're strategically hanging on to your mortgage. Then you get sick and can't work anymore. Would that make you wish you had paid off the house?

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Re: Overheard at Work
« Reply #4736 on: October 16, 2014, 10:50:46 AM »
Overheard at work:

Multiple coworkers have said to me, "Oooh you're a doctor's wife now! He'll have to buy you some nice jewellery, a nice big rock... Etc."

I never anticipated being defined in this away by my husband's career. Apparently there is a whole way a doctor's wife is supposed to live, act, dress...

*facepalm*

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Re: Overheard at Work
« Reply #4737 on: October 16, 2014, 10:54:46 AM »
Overheard at work:

Multiple coworkers have said to me, "Oooh you're a doctor's wife now! He'll have to buy you some nice jewellery, a nice big rock... Etc."

I never anticipated being defined in this away by my husband's career. Apparently there is a whole way a doctor's wife is supposed to live, act, dress...

*facepalm*

You have to start wearing a bedazzled stethoscope, right?

lifejoy

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Re: Overheard at Work
« Reply #4738 on: October 16, 2014, 10:57:05 AM »

Overheard at work:

Multiple coworkers have said to me, "Oooh you're a doctor's wife now! He'll have to buy you some nice jewellery, a nice big rock... Etc."

I never anticipated being defined in this away by my husband's career. Apparently there is a whole way a doctor's wife is supposed to live, act, dress...

*facepalm*

You have to start wearing a bedazzled stethoscope, right?

No, I'm not quite sure you get it... HE would wear the bedazzled stethoscope, I would wear jewels around my ears, neck, wrist, and fingers. ;)

Not to mention the fact that now we have to buy a giant house! Darn.

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Re: Overheard at Work
« Reply #4739 on: October 16, 2014, 11:01:59 AM »
Question: say you're strategically hanging on to your mortgage. Then you get sick and can't work anymore. Would that make you wish you had paid off the house?

A few years ago, maybe, because our stache was smaller than our mortgage. But I could have also sold the house and hoped to come out of that with a little cash, or at least a much smaller loan.

Now that our stache far exceeds our mortgage I have no worries. We have over 2 years of mortgage payments in liquid investments and cash, and total holdings including tax deferred accounts 1.33x our total outstanding mortgage. By the end of 2015 I expect holdings to be 3 yrs of payments liquid and ~1.8x our total outstanding mortgage.

It's not perfect, but there's a safety margin in place now aside from disability pay. A few more years from now it won't even be on my radar.

lifejoy

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Re: Overheard at Work
« Reply #4740 on: October 16, 2014, 11:03:44 AM »

Question: say you're strategically hanging on to your mortgage. Then you get sick and can't work anymore. Would that make you wish you had paid off the house?

A few years ago, maybe, because our stache was smaller than our mortgage. But I could have also sold the house and hoped to come out of that with a little cash, or at least a much smaller loan.

Now that our stache far exceeds our mortgage I have no worries. We have over 2 years of mortgage payments in liquid investments and cash, and total holdings including tax deferred accounts 1.33x our total outstanding mortgage. By the end of 2015 I expect holdings to be 3 yrs of payments liquid and ~1.8x our total outstanding mortgage.

It's not perfect, but there's a safety margin in place now aside from disability pay. A few more years from now it won't even be on my radar.

That makes sense. But it highlights for me how home ownership is an emotional thing as much as it's a financial thing. I just can't stand the idea of not paying off a mortgage ASAP! Reason goes out the window, for me.

RyanAtTanagra

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Re: Overheard at Work
« Reply #4741 on: October 16, 2014, 11:09:15 AM »
That makes sense. But it highlights for me how home ownership is an emotional thing as much as it's a financial thing. I just can't stand the idea of not paying off a mortgage ASAP! Reason goes out the window, for me.

That's ok, I'm the same way.  If we are in a position to, we will probably buy/build our first home with cash.  I know it doesn't make financial sense, but it's a home, not an investment.  A home is where you go to feel safe, secure and happy, and for some having it paid off increases all of the above.

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Re: Overheard at Work
« Reply #4742 on: October 16, 2014, 11:11:27 AM »

That makes sense. But it highlights for me how home ownership is an emotional thing as much as it's a financial thing. I just can't stand the idea of not paying off a mortgage ASAP! Reason goes out the window, for me.

That's ok, I'm the same way.  If we are in a position to, we will probably buy/build our first home with cash.  I know it doesn't make financial sense, but it's a home, not an investment.  A home is where you go to feel safe, secure and happy, and for some having it paid off increases all of the above.

+1

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Re: Overheard at Work
« Reply #4743 on: October 16, 2014, 11:13:29 AM »
Put to prevent this thread from getting too foamy,  here's something on topic. We had a meeting to discuss something at work, and at the end, a coworker asked our boss about travel. Turns out he couldn't book the hotel since they want to put a hold on a credit card for the booking amount. He said he couldn't do it because he has less than $100 credit left on his card!

To be fair . . . if you're traveling for work, your work should pay for as many of your expenses as possible in full, up front.  There's really no good reason to not operate this way.  I've pretended that I am nearly at the limit of my personal credit card to force the company to do the right thing.

And forgo free rewards (or cash back)? That's madness!  As long as they reimburse you before your statement due date I don't see what the problem is.  I actually get upset when my company pays for something and I don't have the opportunity to use my personal credit card to get the cash back (or the hotel reward points).

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Re: Overheard at Work
« Reply #4744 on: October 16, 2014, 11:16:25 AM »

Question: say you're strategically hanging on to your mortgage. Then you get sick and can't work anymore. Would that make you wish you had paid off the house?

A few years ago, maybe, because our stache was smaller than our mortgage. But I could have also sold the house and hoped to come out of that with a little cash, or at least a much smaller loan.

Now that our stache far exceeds our mortgage I have no worries. We have over 2 years of mortgage payments in liquid investments and cash, and total holdings including tax deferred accounts 1.33x our total outstanding mortgage. By the end of 2015 I expect holdings to be 3 yrs of payments liquid and ~1.8x our total outstanding mortgage.

It's not perfect, but there's a safety margin in place now aside from disability pay. A few more years from now it won't even be on my radar.

That makes sense. But it highlights for me how home ownership is an emotional thing as much as it's a financial thing. I just can't stand the idea of not paying off a mortgage ASAP! Reason goes out the window, for me.

I do everything in my power to leave emotion out of it completely. I did not do this 7 years ago when we purchased the place, but our next purchase will be more in line with this thinking. That MMM post was one of the first ones I read shortly after finding the site and it changed my mindset. Think transactionally, not emotionally, including when considering mortgage payoff.

Quote from: MMM
Mindset: You can start things off by giving yourself a great gift that will make the rest of the process go much more smoothly: a calm and rational mind. Repeat after me: “I am not buying a flowery pillowcase of emotions or a future of warm memories. I am conducting a business transaction to purchase a piece of land and an assembled collection of construction materials.”

Perfect.

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Re: Overheard at Work
« Reply #4745 on: October 16, 2014, 11:31:56 AM »
I was recently moved into a new office location so I'm working with all new people, although there are only 3 of us.

I was talking to one of the men, he's about 55-60 years old, about a section of the highway where cops always wait for speeders. Because I use to drive past this location daily, as I had to go that way to get to my old office, I said that I always set my cruise control, that way I didn't need to worry about getting a ticket. He was telling me that he had a Tracks? (its a small SUV) that he had to trade in after 2 years before he had hardly anything paid on it as it didn't have cruise. The conversation ended around then as one of us had to do something workwise.

So yesterday, we were both leaving another office building at the same time and I see him get into his car. A shiny new BMW, it looked really nice, but seriously? I have no idea what kind of BMW it is as I am not a car person. So I guess I know why he is still working.

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Re: Overheard at Work
« Reply #4746 on: October 16, 2014, 11:42:44 AM »
Back in the 90s, a co-worker was telling my boyfriend how expensive it was to have children. Apparently the first thing he "had" to do when his wife got pregnant was go out and spend 30K on a new luxury car.  Because you can't possibly drive Baby around in the two Mercedes convertibles you already have.

(30K bought a new Acura Vigor back then.)

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Re: Overheard at Work
« Reply #4747 on: October 16, 2014, 12:16:50 PM »


So yesterday, we were both leaving another office building at the same time and I see him get into his car. A shiny new BMW, it looked really nice, but seriously? I have no idea what kind of BMW it is as I am not a car person. So I guess I know why he is still working.

A lot of people would rather work and buy fancy things than retire and not spend on high end cars, etc.  I have a co-worker who just turned 60 and I know he has over a million in retirement accts but he keeps working because he loves his cars and his two boats.  I think he is nuts but he thinks I am nuts for driving my old econocar and talking about retiring early.

Others don't think about it at all....they just buy!

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Re: Overheard at Work
« Reply #4748 on: October 16, 2014, 12:24:07 PM »


So yesterday, we were both leaving another office building at the same time and I see him get into his car. A shiny new BMW, it looked really nice, but seriously? I have no idea what kind of BMW it is as I am not a car person. So I guess I know why he is still working.

A lot of people would rather work and buy fancy things than retire and not spend on high end cars, etc.  I have a co-worker who just turned 60 and I know he has over a million in retirement accts but he keeps working because he loves his cars and his two boats.  I think he is nuts but he thinks I am nuts for driving my old econocar and talking about retiring early.

Others don't think about it at all....they just buy!

If someone knows they could retire if they were to save a lot but instead chooses to spend money on cars, etc (but no debt), then I am totally comfortable with that decision. There's a guy in my office like that (likes to work, likes his toys). It's the people who don't realize there is another way and just mindlessly consume, go into debt, and complain about their (solvable) problems that deserve to be in this thread.

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Re: Overheard at Work
« Reply #4749 on: October 16, 2014, 02:31:15 PM »
I love my job RIGHT NOW. It could all change.  Wonder if my awesome boss leaves?  Wonder if I get a crazy, micromanagement boss what hates me?  Wonder if the company gets sold.  So many things could go wrong.  I'm thinking it's better to be prepared for RE just in case.  If I continue to love my job, I will continue to work as long as it's fun.