Author Topic: Overheard at Work  (Read 9823225 times)

kayvent

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Re: Overheard at Work
« Reply #16100 on: December 14, 2016, 07:36:45 PM »
Here's what to do:  Mix up a solution of 1/3 water and 2/3 isopropyl/rubbing alcohol.  Put it in a spray bottle.  You can also store a spray bottle of this stuff in your car.  Spray your windshield (and other car windows).  Instant melt, frost all gone :-)

Plus if you ever get in a traffic accident, be sure to discretely spritz a little on the other party before the police show up to save hundreds in insurance premiums! /s

Back on topic: My office is open 50 weeks a year. For union voodoo reasons everyone gets a set rate over those 50 weeks and then signs a form to have it reduced slightly and annualised so they don't "miss" a paycheque at Christmas. Today the HR lady was chasing my boss down because he hadn't filled in his form (he's near retirement, has his shit together, presumably values the money sooner in the year so it can be invested and just live on savings for the Christmas break*)

My coworker told her "Oh, he didn't return it because he doesn't want to."

HR lady: "But if I don't get this form in he won't be getting paid!"

I reassured her too but eventually she had to call the boss and even then it was such an edge case that she needed to pull him back from where he was to come into her office and confirm it in person too. I thought it was funny that the "default" option is the one that requires a multi-page contract printed in duplicate and handed in person to all 300 members of staff and returned by a set date.

*Since we had our conversation I've realised that mathematically I should be doing this too. I'm still new to the Mustachianism thing so I still feel like I'll just overspend the "extra" money and not come out any further ahead. Whats the future value of an extra couple bucks a week (lets say $40) spread over a year if just my bank gives 3% p.a.?

In Canada there is the debate about having a large return or filing T1213 to reduce the amount of tax deducted from one's paycheque. I've tended to go with maximizing my paycheques. For me the different is around 300$ per paycheque though.

I do get what you mean about feeling "like I'll just overspend the 'extra' money and not come out any further ahead." The words of _The Wealthy Barber_ may help. "Pay yourself first" he says. If you have any debts (myself student loans), assign that 40$/week to the debt before you plan to spend it. Heck, some lovely lunatics ;) adventurous individuals on this forum would even try to gamify your situation and not spend anything in the two weeks.

canuck_24

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Re: Overheard at Work
« Reply #16101 on: December 14, 2016, 09:38:23 PM »
I had a shocking conversation the other day while driving home from work with a couple of colleagues:
CW1:  "I see Ford is having a sale, I think I might go get a new truck."
me: "Oh, is your old one pretty worn out?  Were you planning to buy something soon anyways?"
CW1: "No, actually, my truck is only ... ummm... I'm not sure maybe 2 years old?  I was planning to mile it out, but this is a really good sale, and my truck doesn't have as many features as the new ones.  I think if they will buy me out of what's left owing on my current truck I'll take the deal today and have a new truck!"
me: "Wow.  I think I'd have a really hard time making a decision so fast on such a big purchase.  We got burned when we had to sell our last new vehicle quickly because we decided to move overseas, and lost quite a bit of money.  I don't think I'll ever purchase another new car because of that."

Now, if the above convo wasn't bad enough... here was the part that shocked me:

CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"

I debated for a bit if I should say anything... CW1 is very intelligent.  I quite like CW1 and didn't want her to lose money on another deal, so I tossed caution to the wind and mentioned, "Well, if you didn't sell it for what you paid, AND you were paying interest... unless you made capital gains on an equivalent amount of money you were investing while the bank loaned you the money for the truck... you definitely lost money on your last truck."
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

at which point CW2 begins commenting about their vehicle, joining CW1: "Oh I made sure to buy brandX because they NEVER lose value.  I'm sure I'll be able to sell it for the same price as what I bought it for new no matter how long I drive it."

I just smiled and nodded for the remainder of the conversation.  I know there's been a ton of car-conversation on here, but until this convo I don't know if I entirely "got" it.  It astounded me.

mustachepungoeshere

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Re: Overheard at Work
« Reply #16102 on: December 14, 2016, 09:41:40 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

gimp

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Re: Overheard at Work
« Reply #16103 on: December 14, 2016, 09:52:32 PM »
canuck:

Oddly enough, in rare cases, the dealer incentives can push the price of certain brand new pickup trucks noticeably below their lightly used (~25k miles) value.

I assume they weren't exactly talking about this, though.

canuck_24

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Re: Overheard at Work
« Reply #16104 on: December 14, 2016, 10:23:35 PM »
canuck:

Oddly enough, in rare cases, the dealer incentives can push the price of certain brand new pickup trucks noticeably below their lightly used (~25k miles) value.

I assume they weren't exactly talking about this, though.

Nope, definitely not talking about a deal like this. 

marty998

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Re: Overheard at Work
« Reply #16105 on: December 14, 2016, 11:56:17 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16106 on: December 15, 2016, 12:10:53 AM »
CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"
...
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

This sort of logic baffles me. You don't get to define what words mean because you think differently about something. It sounds like CW1 means they've never been in negative car equity that a dealer wouldn't wrap into a new loan. Or that they've been able to drive a new truck by making monthly payments and never paying off a lump sum. This is better than the way some people buy trucks but doesn't mean you've been driving cars for free!

kayvent

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Re: Overheard at Work
« Reply #16107 on: December 15, 2016, 03:45:31 AM »
CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"
...
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

This sort of logic baffles me. You don't get to define what words mean because you think differently about something. It sounds like CW1 means they've never been in negative car equity that a dealer wouldn't wrap into a new loan. Or that they've been able to drive a new truck by making monthly payments and never paying off a lump sum. This is better than the way some people buy trucks but doesn't mean you've been driving cars for free!

I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

marty998

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Re: Overheard at Work
« Reply #16108 on: December 15, 2016, 05:08:35 AM »
CW1: "Oh, that's too bad.  Yeah, I actually only had my last new truck for a couple of years too, and when I got my current truck they bought out the remainder of my existing loan.  It was great!  I have never lost money on a vehicle!"
...
CW1: "No, I don't think like that.  I think that if I got rid of the truck and the loan at the same time, I'm basically breaking even!"
me: "but... the math?"  (this goes back and forth for a bit with us both trying to be polite)
CW1: "I guess we just think differently about these things!"

This sort of logic baffles me. You don't get to define what words mean because you think differently about something. It sounds like CW1 means they've never been in negative car equity that a dealer wouldn't wrap into a new loan. Or that they've been able to drive a new truck by making monthly payments and never paying off a lump sum. This is better than the way some people buy trucks but doesn't mean you've been driving cars for free!

I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

Quantum of payment matters. Higher or lower (or better or worse vehicle).

But agree with canuck and PWFUK (thats an interesting abbreviation. sorry!). Logic doesn't bend to opinion.

Maths is either right or wrong.

jinga nation

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Re: Overheard at Work
« Reply #16109 on: December 15, 2016, 06:39:21 AM »
...at which point CW2 begins commenting about their vehicle, joining CW1: "Oh I made sure to buy brandX because they NEVER lose value.  I'm sure I'll be able to sell it for the same price as what I bought it for new no matter how long I drive it."
...
Dummy! Depreciation Doesn't Discriminate!
Rates vary per brand/model, but on a long enough timeline, all vehicle values drop. (Unless they become classics and start appreciating.)

onlykelsey

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Re: Overheard at Work
« Reply #16110 on: December 15, 2016, 06:41:04 AM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

frugalnacho

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Re: Overheard at Work
« Reply #16111 on: December 15, 2016, 08:11:50 AM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

she works at acme acres

Playing with Fire UK

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Re: Overheard at Work
« Reply #16112 on: December 15, 2016, 09:43:42 AM »
PWFUK (thats an interesting abbreviation. sorry!)

It's the noise I make when I read an amusing comment on MMM and then realise I've sprayed coffee on my keyboard. Nothing to apologise for.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16113 on: December 15, 2016, 09:47:10 AM »
I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

You are right Kayvent, but (just for fun) how many other things are true if you assume you'll always have a car payment...?

dandarc

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Re: Overheard at Work
« Reply #16114 on: December 15, 2016, 09:54:31 AM »
I think I can understand the viewpoint. I think. If you assume that you'll always have a car payment, economically a company buying out your loan and giving you a discount on a new vehicle is a gain of money.

You are right Kayvent, but (just for fun) how many other things are true if you assume you'll always have a car payment...?
You'll always have comprehensive and collision insurance.

Just Joe

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Re: Overheard at Work
« Reply #16115 on: December 15, 2016, 10:42:11 AM »
Perpetual debt. Now there's something depressing. It costs money to live of course but things like expensive gadgets and vehicles are optional. Buy something cheaper cash.

mustachepungoeshere

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Re: Overheard at Work
« Reply #16116 on: December 15, 2016, 12:05:12 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

Not a wedding dress.

CW1 actually asked CW2 (a graphic designer) if she had somewhere special to wear it, and CW2 said, "It's a black dress, you always need a black dress."

mtn

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Re: Overheard at Work
« Reply #16117 on: December 15, 2016, 12:12:55 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

Not a wedding dress.

CW1 actually asked CW2 (a graphic designer) if she had somewhere special to wear it, and CW2 said, "It's a black dress, you always need a black dress."

Meh--if she wears it a lot, regularly, then consider it money well spent--assuming (and probably a very bad assumption) that she only buys a dress like that every 10 years or so.

But I'm a dude who knows nothing of women's fashion--only that with clothes, the more I spend seems to directly correlate to the time I get out of them.

Penny McSave

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Re: Overheard at Work
« Reply #16118 on: December 15, 2016, 12:56:41 PM »
Unless it was ball gown worthy for a special event, I think $600 seems excessive for a black dress. I always thought the beauty of the little black dress was that it need not be expensive, just find a classic style that can be dressed up or down.

I found my perfect LBD at Marshall's for $10 (!)

mm1970

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Re: Overheard at Work
« Reply #16119 on: December 15, 2016, 01:53:50 PM »
CW1 just got back from buying lunch.

CW1: Hey CW2, I just saw this beautiful dress that would look amazing on you!

Within five minutes CW2 had found the dress online and bought it.

It was $600.

It's ok. if she timed it right then the credit card bill doesn't come due till February.

I mean, maybe it was a wedding dress???

What field do you work in?

Not a wedding dress.

CW1 actually asked CW2 (a graphic designer) if she had somewhere special to wear it, and CW2 said, "It's a black dress, you always need a black dress."

Meh--if she wears it a lot, regularly, then consider it money well spent--assuming (and probably a very bad assumption) that she only buys a dress like that every 10 years or so.

But I'm a dude who knows nothing of women's fashion--only that with clothes, the more I spend seems to directly correlate to the time I get out of them.
I spent, I think, $90 or $100 on my "black dress" (only dress I own).  I wear it once a year (sometimes twice).  I'll be wearing it tomorrow, in fact.  I'd honestly have to go back in facebook time to remember when I first got it.  (Which Christmas party, ha!)  2009?  2010?  I missed a couple of post-baby years when it didn't fit though.

dragoncar

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Re: Overheard at Work
« Reply #16120 on: December 15, 2016, 01:56:53 PM »
I just borrow my wife's black dress.  Free to me

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Re: Overheard at Work
« Reply #16121 on: December 15, 2016, 02:08:51 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

My closest understanding is it went like this:

First time: Dot-com bust, sold everything at the bottom because he didn't know better.
Second time: Great Recession, was leveraged 3x and when things went down he got margin called and had to sell and was left with almost nothing.
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.

His comment after telling me this was "if I ever get any money again, I'm going into real-estate, stocks are too scary for me"


MgoSam

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Re: Overheard at Work
« Reply #16122 on: December 15, 2016, 03:07:20 PM »
"if I ever get any money again, I'm going into real-estate, stocks are too scary for me"

A fool and his money are soon departed

dougules

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Re: Overheard at Work
« Reply #16123 on: December 15, 2016, 03:20:23 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

My closest understanding is it went like this:

First time: Dot-com bust, sold everything at the bottom because he didn't know better.
Second time: Great Recession, was leveraged 3x and when things went down he got margin called and had to sell and was left with almost nothing.
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.

His comment after telling me this was "if I ever get any money again, I'm going into real-estate, stocks are too scary for me"

Wow.  How old is he?

I hope he figures real estate out better than he did stocks.  At least leverage (ie. a mortgage) is a much more straightforward practice there.  Hopefully somebody will also clue him in that anything other than renting or flipping is not investing but just speculation. 

arebelspy

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Re: Overheard at Work
« Reply #16124 on: December 15, 2016, 03:24:38 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

My closest understanding is it went like this:

First time: Dot-com bust, sold everything at the bottom because he didn't know better.
Second time: Great Recession, was leveraged 3x and when things went down he got margin called and had to sell and was left with almost nothing.
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.

His comment after telling me this was "if I ever get any money again, I'm going into real-estate, stocks are too scary for me"
Those are all spaced almost exactly 8 years apart: 2000/2001, 2008/2009, 2016 (almost 2017).

I'm so curious where he'll be with retirement investments 8 years from now.
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ingrownstudentloans

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Re: Overheard at Work
« Reply #16125 on: December 15, 2016, 04:22:15 PM »
I found out today that one of my co-workers has lost almost all of his retirement 3 times over the course of his career including losing everything about a week ago.

Those are all spaced almost exactly 8 years apart: 2000/2001, 2008/2009, 2016 (almost 2017).

I'm so curious where he'll be with retirement investments 8 years from now.

Keep us posted - I will play the opposite of whatever he is going into next!

shanghaiMMM

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Re: Overheard at Work
« Reply #16126 on: December 15, 2016, 04:45:55 PM »
CW1 - I only ever book 5* hotels. My last one was only $2500 for 9 days!

Which might not be so terrible until you consider the trip was to Cambodia, where accommodation can be much, much cheaper!

arebelspy

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Re: Overheard at Work
« Reply #16127 on: December 15, 2016, 05:15:17 PM »
CW1 - I only ever book 5* hotels. My last one was only $2500 for 9 days!

Which might not be so terrible until you consider the trip was to Cambodia, where accommodation can be much, much cheaper!
Wow.

We spent about $300 for lodging in Cambodia. For a month.  ($10/day.)

You could go cheaper, hostel style, but we wanted a private hotel room and private bathroom.

Had a fantastic time.

I can't imagine paying $2500 for nine days. If I had the choice of staying in the $10/day one we stayed at ($90 total for nine days) or the five star one (normally $2500 for nine days), but the five star one was discounted 90% so it only cost $250 for the nine days... I'd spend the $90 and save $160.
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gimp

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Re: Overheard at Work
« Reply #16128 on: December 15, 2016, 06:09:02 PM »
$2500 for 9 days

Cambodia

I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

firelight

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Re: Overheard at Work
« Reply #16129 on: December 15, 2016, 08:06:17 PM »
$2500 for 9 days

Cambodia

I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

BuffaloStache

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Re: Overheard at Work
« Reply #16130 on: December 15, 2016, 08:48:51 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

dragoncar

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Re: Overheard at Work
« Reply #16131 on: December 15, 2016, 10:00:39 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

I pay extra for people to just leave me alone

arebelspy

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Re: Overheard at Work
« Reply #16132 on: December 15, 2016, 10:10:03 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

I pay extra for people to just leave me alone

Speaking of which, your weekly protection money is due, DragonCar.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

DutchGirl

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Re: Overheard at Work
« Reply #16133 on: December 16, 2016, 12:37:34 AM »
Ooh, I've got a good one. Two, actually. From the same colleague (CW1), same lunch.

First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

Later, the conversation turns to the fact that local radio stations are (apparently) collecting food for the food bank.

CW3: Yes, every year I let each of my children donate 8 euros of food to the food bank, when they have these collections. I think that it teaches them about charity and how to donate. We go into the supermarket and for 8 euro they can pick whatever food they like to give. But if they for example take beans from (expensive brand), I always say to them: "Listen, you've got 8 euros, take the cheaper brand and then you can give more". That way, they also learn how to be smart about money.
CW1: I never understand how people can end up needing the food bank! I mean, we are all poor here ...
(Me, internally: Speak for yourself)
CW1: ... but we still manage to have our tummies full every night.
CW3: Well, for example, there was this 22 year old woman in the program, who had a child from a horrible relationship. She escaped that relationship (bla bla bla, sad story, and indeed, one way in which people can screw up their lives and maybe temporarily may need help to feed themself and their kid).
CW1: Yes, well, I still don't understand how people can't afford to feed themself. Now, time for a smoke.

(Me, internally: yes, you never would make any decisions that impact your future financial well-being nor health, right?)

PS. I'm not perfect either, and also don't always make the best decisions for my future. Chocolate is just too damn good. But at least I'm not claiming to not understand how other people can sometimes mess up, too...
« Last Edit: December 16, 2016, 12:50:26 AM by DutchGirl »

Playing with Fire UK

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Re: Overheard at Work
« Reply #16134 on: December 16, 2016, 01:11:51 AM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

dragoncar

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Re: Overheard at Work
« Reply #16135 on: December 16, 2016, 01:43:59 AM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

I agree money is fungible, but I can also see looking at it like "I wouldn't have had this money if I didn't do XYZ above and beyond to earn it, so I should be able to spend it on whatever helps me justify doing that extra work" (assuming most bonuses are for some kind of performance factor that you wouldn't get by coasting)

Now, to a mustachian, just increasing your savings rate could justify that extra work.  To others, they would only work extra hard for some consumer treat, like a new car or whatever.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16136 on: December 16, 2016, 01:58:52 AM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

I agree money is fungible, but I can also see looking at it like "I wouldn't have had this money if I didn't do XYZ above and beyond to earn it, so I should be able to spend it on whatever helps me justify doing that extra work" (assuming most bonuses are for some kind of performance factor that you wouldn't get by coasting)

Now, to a mustachian, just increasing your savings rate could justify that extra work.  To others, they would only work extra hard for some consumer treat, like a new car or whatever.

Interesting. Our 'bonuses' are more like the 13th month paycheck. We get more when the company is doing well and there is some degree of performance (excellent performers get more and some people get nothing), but I've never been able to link my work with my bonus. This may be why I have issues with my manager.

However when I got overtime pay I'd sometimes allocate some of the pay to 'buying' my time back, whether it was buying prepared food or something so that I could enjoy my time off more.

shanghaiMMM

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Re: Overheard at Work
« Reply #16137 on: December 16, 2016, 03:16:51 AM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.
Wow! We spent close to $300 for 7 days in a very luxury place and I thought it couldn't get any better. Where did he spend $2500/9 days?

But did you get treated like actual royalty? People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep? :-P

I pay extra for people to just leave me alone

Speaking of which, your weekly protection money is due, DragonCar.

Ok good. I haven't been time Cambodia, but having been to other Asian countries, I thought it sounded crazy.

She justified it by saying it had free massages, drivers into town etc etc.

But yes, I'll talk to her after Christmas, I know she's going away again!

jinga nation

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Re: Overheard at Work
« Reply #16138 on: December 16, 2016, 06:28:07 AM »
Third time: Put everything in UWTI. It's a 3x leveraged crude oil ETF that was just de-listed. i.e. effectively, it's ridiculously hard to get rid of it unless you have a huge ($500k) block of it or are willing to take a HUGE hit in value. So he liquidated at the bottom with at least a 10% hit because he didn't have a huge block.
Amateur. You've got to play UWTI with DWTI simultaneously.

pancakes

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Re: Overheard at Work
« Reply #16139 on: December 16, 2016, 06:55:44 AM »
Co-worker has recently split with their partner and has a couple of kids.

They are struggling to work out budgeting after 20 odd years of marriage and shared expenses which is understandable. What I don't get is that they are struggling financially to manage and yet keep doing things like buying one of the kids a car or agreeing to pay for a birthday party for 100 guests with food and alcohol provided...

Even more staggering is they are making these decisions independently of the ex partner and then calculating how much the ex 'owes' for their share of the kids' expenses and getting annoyed about how unfair it is that the ex won't contribute.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16140 on: December 16, 2016, 07:47:18 AM »
Co-worker has recently split with their partner and has a couple of kids.

They are struggling to work out budgeting after 20 odd years of marriage and shared expenses which is understandable. What I don't get is that they are struggling financially to manage and yet keep doing things like buying one of the kids a car or agreeing to pay for a birthday party for 100 guests with food and alcohol provided...

Even more staggering is they are making these decisions independently of the ex partner and then calculating how much the ex 'owes' for their share of the kids' expenses and getting annoyed about how unfair it is that the ex won't contribute.

Wow, it sounds like they are trying to be the fun parent and it is backfiring horribly. I feel for them as they are having to learn how to budget (again?), while dealing with a separation; but buying a car before you have your new budget worked out is not good parenting.

MrMoogle

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Re: Overheard at Work
« Reply #16141 on: December 16, 2016, 01:09:49 PM »
First, the conversation is about our bigger paycheck, "13th month", that is coming next week. We get roughly a double salary in December.

CW1: When is our paycheck coming? I believe next Wednesday?
CW2: Yes, next Wednesday.
CW1: I'm so looking forward to it. Double salary.
Me: When I had a zero-hour contract here and got paid per hour I worked, I would not get this 13th month, but instead I would get a bit more every hour I worked. I liked that, a bigger paycheck every month, compared to waiting until the end of the year.
CW1: Oh, but I like this more. It really feels like extra money. I always love to think about what I can do with that money!

I see this so often, treating a $100 from a bonus as if it is totally different from $100 from salary, or $100 from a saving account. It is all $100, the money doesn't know or care where it originated.

(Having said that) I like the idea of the 13th month; I think for a lot of people this is the only way they are likely to save. I'd prefer it if work would give you the option of having it paid in December or January. At my old work, we got our bonuses in mid-December, people mostly spoke about spending them. At my current place we get them in February or March and there is a big push to encourage people to put the bonus into our retirement accounts. I don't know how many people do this, but there is less talk of buying gifts and treats.

I agree money is fungible, but I can also see looking at it like "I wouldn't have had this money if I didn't do XYZ above and beyond to earn it, so I should be able to spend it on whatever helps me justify doing that extra work" (assuming most bonuses are for some kind of performance factor that you wouldn't get by coasting)

Now, to a mustachian, just increasing your savings rate could justify that extra work.  To others, they would only work extra hard for some consumer treat, like a new car or whatever.

Interesting. Our 'bonuses' are more like the 13th month paycheck. We get more when the company is doing well and there is some degree of performance (excellent performers get more and some people get nothing), but I've never been able to link my work with my bonus. This may be why I have issues with my manager.

However when I got overtime pay I'd sometimes allocate some of the pay to 'buying' my time back, whether it was buying prepared food or something so that I could enjoy my time off more.
Now they can afford Christmas presents!

MgoSam

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Re: Overheard at Work
« Reply #16142 on: December 16, 2016, 01:28:08 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16143 on: December 16, 2016, 01:41:36 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Yes, my work will sometimes say that the only hotel that meets our security requirements is over $300/night. Once a hotel knows that they are the only one that meet the requirements they can basically charge what they like.

bebegirl

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Re: Overheard at Work
« Reply #16144 on: December 16, 2016, 02:05:23 PM »
Just talked to my colleague. We were discussing finance, investments, mortgage. And somehow my colleague mentioned her friend.
Her friend is from the family of 6 kids. His father was janitor, his mother - clerk. His father died like couple of years ago. Turned out he left millions in stocks. He was very frugal all his life and was investing all his life as well.

My colleague mentioned that his kids think that he did not have an opportunity to enjoy the life probably because he was so frugal and did not indulge his himself and his kids.

I told that this might not be the case. Frugal does not mean not happy.

Fascinating story! ))

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Re: Overheard at Work
« Reply #16145 on: December 16, 2016, 03:06:35 PM »
Just talked to my colleague. We were discussing finance, investments, mortgage. And somehow my colleague mentioned her friend.
Her friend is from the family of 6 kids. His father was janitor, his mother - clerk. His father died like couple of years ago. Turned out he left millions in stocks. He was very frugal all his life and was investing all his life as well.

My colleague mentioned that his kids think that he did not have an opportunity to enjoy the life probably because he was so frugal and did not indulge his himself and his kids.

I told that this might not be the case. Frugal does not mean not happy.

Fascinating story! ))

Amen.  My fondest memories with my father were fishing on a lake, playing baseball in the park...all free or close to free stuff.  That's happiness.

arebelspy

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Re: Overheard at Work
« Reply #16146 on: December 16, 2016, 03:14:31 PM »
Ok good. I haven't been time Cambodia, but having been to other Asian countries, I thought it sounded crazy.

We've been to Malaysia, Cambodia, Thailand, Philippines, Indonesia.   (Though only very small parts of those, obviously.)

Cambodia was the cheapest of them, for both food and lodging.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
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We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Megma

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Re: Overheard at Work
« Reply #16147 on: December 16, 2016, 08:01:39 PM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Yes, my work will sometimes say that the only hotel that meets our security requirements is over $300/night. Once a hotel knows that they are the only one that meet the requirements they can basically charge what they like.

We paid close to over 400/night for hotel rooms for a work event this year in Lagos, Nigeria. We regularly hold international events in developing countries and this was so high that we pushed back on the local organizing team's choice - they insisted this was the only/best choice as the hotel had the needed security. Pricy.

Playing with Fire UK

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Re: Overheard at Work
« Reply #16148 on: December 17, 2016, 01:35:14 AM »
I was under the impression that $300/day in Cambodia would get you treated like actual royalty. People carrying you around, hand-feeding you food, waving a big leaf over you while you sleep.

$300/night for a hotel rooms exist in extremely LCOL countries. They are usually marketed for business and government travelers that expense it. I know a relative that flew to Delhi, India and stayed at a hotel that cost that much. He didn't have a choice in the matter as the hotel was booked by the people he was consulting for. He wishes he could have just stayed with at his cousin's house.

Yes, my work will sometimes say that the only hotel that meets our security requirements is over $300/night. Once a hotel knows that they are the only one that meet the requirements they can basically charge what they like.

We paid close to over 400/night for hotel rooms for a work event this year in Lagos, Nigeria. We regularly hold international events in developing countries and this was so high that we pushed back on the local organizing team's choice - they insisted this was the only/best choice as the hotel had the needed security. Pricy.

Yes, same situation. I suspect that some of our local teams have agreements in place to recommend a specific hotel. I know that one of them gets their holiday party free at the hotel they recommend.

snorrie

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Re: Overheard at Work
« Reply #16149 on: December 18, 2016, 12:28:54 AM »
I work in a clothing boutique. My coworkers and I are expected to look well-dressed (thankfully we get clothing from the store - a very mustachian solution) and put together. I wear the minimum of make-up I can get away with and overheard the following:

CW1: It's such an amazing product! Our boss recommended it, so of course I had to try it!
CW2: I got it too, I'm wearing it now! (Could not see anything different from the other day)
CW1: Yes, the only trouble is, when I wore it daily, it ran out in about three weeks, so be careful!
CW2: Yes, better make it last, because 70euros every three weeks is a bit too much
ME: *goes to pick up jaw from floor*

This coming from a couple of people who earn retail wages and spend most of it on clothes from the store and breakfast/lunch.