Overheard at Work

[Siobhan]

Got another gem this morning.  Context: coworker is heading to Morocco on vacation in a week, last week she was thinking of getting a bigger house because her clothes have filled all FOUR of her closets in her DC townhome....and she constantly worries about being fired because they have ZERO savings, she's pulling in 130k/yr, her husband is a GS 14 so probably in the same area.

CW1: So we looked at the weather and it's been raining a lot in Fez, and I realized I don't have a good rain + coat, I have a raincoat, but it's not super heavy, and I have 2 regular coats I bought for the trip, but I don't have a Rain + coat
Me:  Couldn't you just put your raincoat over your regular coat?
CW1:  *giving me what the fuck face*  Uh no....that would look weird as heck!
Me:  So you are going to go buy a rain resistant heavy coat, in case it rains the week you are there?
CW1:  OH!  I bought it last night, it was on sale for only $140 from 200!!  I got a great deal on it. 
Me:  Didn't you already buy a ton of clothes for this trip?
CW1:  Oh not a ton, I've only spent like 1200 dollars.

She's going to Morocco....for a week....and she already has FOUR closets of clothes and shoes.

FACEPUNCH! FACEPUNCH! FACEPUNCH!   So an update to this.  Said rain+coat didn't fit, so she bought a new one, expedited shipping, for 400 dollars.  Then spent 2 hours today in the middle of the office (we don't have cubes or offices, it's a totally open floorplan) calling every USPS number she could find, and harassing our building mail man.  Why you ask? Because if the one that doesn't fit isn't returned to the seller, and credited back to her card, she's going go over her credit card limit and get hit with a fee when the new one ships.  She mailed the coat back out yesterday at 7 pm...by 9 am today she wanted to know why it wasn't delivered (same state) and hadn't been updated in her tracking number.

She followed this statement up by complaining that her husband made her clean out a closet and a couple of drawers so his parents (who are house sitting/touristing while they are gone) can have a place to put stuff.  She didn't seem to think this was a "fair" request....

[eyePod]

Got another gem this morning.  Context: coworker is heading to Morocco on vacation in a week, last week she was thinking of getting a bigger house because her clothes have filled all FOUR of her closets in her DC townhome....and she constantly worries about being fired because they have ZERO savings, she's pulling in 130k/yr, her husband is a GS 14 so probably in the same area.

CW1: So we looked at the weather and it's been raining a lot in Fez, and I realized I don't have a good rain + coat, I have a raincoat, but it's not super heavy, and I have 2 regular coats I bought for the trip, but I don't have a Rain + coat
Me:  Couldn't you just put your raincoat over your regular coat?
CW1:  *giving me what the fuck face*  Uh no....that would look weird as heck!
Me:  So you are going to go buy a rain resistant heavy coat, in case it rains the week you are there?
CW1:  OH!  I bought it last night, it was on sale for only $140 from 200!!  I got a great deal on it. 
Me:  Didn't you already buy a ton of clothes for this trip?
CW1:  Oh not a ton, I've only spent like 1200 dollars.

She's going to Morocco....for a week....and she already has FOUR closets of clothes and shoes.

FACEPUNCH! FACEPUNCH! FACEPUNCH!   So an update to this.  Said rain+coat didn't fit, so she bought a new one, expedited shipping, for 400 dollars.  Then spent 2 hours today in the middle of the office (we don't have cubes or offices, it's a totally open floorplan) calling every USPS number she could find, and harassing our building mail man.  Why you ask? Because if the one that doesn't fit isn't returned to the seller, and credited back to her card, she's going go over her credit card limit and get hit with a fee when the new one ships.  She mailed the coat back out yesterday at 7 pm...by 9 am today she wanted to know why it wasn't delivered (same state) and hadn't been updated in her tracking number.

She followed this statement up by complaining that her husband made her clean out a closet and a couple of drawers so his parents (who are house sitting/touristing while they are gone) can have a place to put stuff.  She didn't seem to think this was a "fair" request....

How do you guys put up with these kind of co-workers? Mine are so much more reasonable. Not perfect or anything, but not CRAZY. Maybe I just haven't gotten to be here long enough though.

[rocksinmyhead]

Got another gem this morning.  Context: coworker is heading to Morocco on vacation in a week, last week she was thinking of getting a bigger house because her clothes have filled all FOUR of her closets in her DC townhome....and she constantly worries about being fired because they have ZERO savings, she's pulling in 130k/yr, her husband is a GS 14 so probably in the same area.

CW1: So we looked at the weather and it's been raining a lot in Fez, and I realized I don't have a good rain + coat, I have a raincoat, but it's not super heavy, and I have 2 regular coats I bought for the trip, but I don't have a Rain + coat
Me:  Couldn't you just put your raincoat over your regular coat?
CW1:  *giving me what the fuck face*  Uh no....that would look weird as heck!
Me:  So you are going to go buy a rain resistant heavy coat, in case it rains the week you are there?
CW1:  OH!  I bought it last night, it was on sale for only $140 from 200!!  I got a great deal on it. 
Me:  Didn't you already buy a ton of clothes for this trip?
CW1:  Oh not a ton, I've only spent like 1200 dollars.

She's going to Morocco....for a week....and she already has FOUR closets of clothes and shoes.

FACEPUNCH! FACEPUNCH! FACEPUNCH!   So an update to this.  Said rain+coat didn't fit, so she bought a new one, expedited shipping, for 400 dollars.  Then spent 2 hours today in the middle of the office (we don't have cubes or offices, it's a totally open floorplan) calling every USPS number she could find, and harassing our building mail man.  Why you ask? Because if the one that doesn't fit isn't returned to the seller, and credited back to her card, she's going go over her credit card limit and get hit with a fee when the new one ships.  She mailed the coat back out yesterday at 7 pm...by 9 am today she wanted to know why it wasn't delivered (same state) and hadn't been updated in her tracking number.

She followed this statement up by complaining that her husband made her clean out a closet and a couple of drawers so his parents (who are house sitting/touristing while they are gone) can have a place to put stuff.  She didn't seem to think this was a "fair" request....

How do you guys put up with these kind of co-workers? Mine are so much more reasonable. Not perfect or anything, but not CRAZY. Maybe I just haven't gotten to be here long enough though.

I know!!! None of mine are that bad either.

We had a meeting about benefits yesterday and our main financial adviser guy said that 15% of employees here don't contribute to their 401K. I can't decide if this is bad or not. On the one hand, 85% participation sounds pretty good. On the other hand, we have an incredibly generous match (8%!), and most people here make very good money, even on the lower end of the pay scale, so I feel like we should have 100% participation.

[Siobhan]

Got another gem this morning.  Context: coworker is heading to Morocco on vacation in a week, last week she was thinking of getting a bigger house because her clothes have filled all FOUR of her closets in her DC townhome....and she constantly worries about being fired because they have ZERO savings, she's pulling in 130k/yr, her husband is a GS 14 so probably in the same area.

CW1: So we looked at the weather and it's been raining a lot in Fez, and I realized I don't have a good rain + coat, I have a raincoat, but it's not super heavy, and I have 2 regular coats I bought for the trip, but I don't have a Rain + coat
Me:  Couldn't you just put your raincoat over your regular coat?
CW1:  *giving me what the fuck face*  Uh no....that would look weird as heck!
Me:  So you are going to go buy a rain resistant heavy coat, in case it rains the week you are there?
CW1:  OH!  I bought it last night, it was on sale for only $140 from 200!!  I got a great deal on it. 
Me:  Didn't you already buy a ton of clothes for this trip?
CW1:  Oh not a ton, I've only spent like 1200 dollars.

She's going to Morocco....for a week....and she already has FOUR closets of clothes and shoes.

FACEPUNCH! FACEPUNCH! FACEPUNCH!   So an update to this.  Said rain+coat didn't fit, so she bought a new one, expedited shipping, for 400 dollars.  Then spent 2 hours today in the middle of the office (we don't have cubes or offices, it's a totally open floorplan) calling every USPS number she could find, and harassing our building mail man.  Why you ask? Because if the one that doesn't fit isn't returned to the seller, and credited back to her card, she's going go over her credit card limit and get hit with a fee when the new one ships.  She mailed the coat back out yesterday at 7 pm...by 9 am today she wanted to know why it wasn't delivered (same state) and hadn't been updated in her tracking number.

She followed this statement up by complaining that her husband made her clean out a closet and a couple of drawers so his parents (who are house sitting/touristing while they are gone) can have a place to put stuff.  She didn't seem to think this was a "fair" request....

How do you guys put up with these kind of co-workers? Mine are so much more reasonable. Not perfect or anything, but not CRAZY. Maybe I just haven't gotten to be here long enough though.

One word...heaphones, it's the only way I make it through the day, unfortunately she is LOUD, and sits two feet away from me, so I get to look and listen to her all day, even with headphones in.  Headphones drown out the rest of the idiots usually.  She is by FAR the worst co worker I've ever had financially...she even beat out the last number 1...the guy who bought new vehicles every six months (particularly dirt bikes and motorcycles, but there were a few beamers in there as well) all while making 60k or under a year.

It literally takes most of my reserve to not punch her in the face on a daily basis, she name drops chefs from trendy DC restaurants that she's getting to know personally since they eat there so much, she's paid to have a 900lb custom made piece of furniture shipped across the country (shipping was a grand, I don't even know the cost of said furniture), she lets her bernie madoff style "friend" manage her parents small (and i mean like 5k left) retirement account, and she has at least 5 boxes a week of crap she bought shipped to the office.

The worst part of it all is her parents were the same way, they "spared" no expense raising her and having fun (think NY elite private schools etc) and now they are literally lingering near death with MASSIVE health issues that have incapacitated them and can't afford their medicines, FOOD, HOA fees etc.  She's said they are in the hock to various hospitals/creditors/banks well into the six figure range.  And she says she "just doesn't know how it happened to them".  All they have is their NY condo which is paid off (with many liens I imagine), and she pays their HOA fees so that they don't come live with her.  I've tried pointing out that she's going to end up in the same boat potentially if she doesn't change but she doesn't listen.

[Rollin]

If I were Moderator, I would be giving everyone with certain off-topic posts (re: foam, boxes) temporary bans, and then deleting those posts (or moving them to some "trash thread" somewhere).

So be glad I'm not a Moderator, jackasses.

Thankfully, its not a hard-and-fast rule (calling "foam" as we sees 'em).  However, your last word does seem like you are taking it rather hard...

[gimp]

Having been a mod here, an admin there, a developer elsewhere... volunteer jobs with power tend to attract those who have none in their lives. A laissez-faire approach tends to be best and the mods here are pretty good at that.

[frugalnacho]

Having been a mod here, an admin there, a developer elsewhere... volunteer jobs with power tend to attract those who have none in their lives. A laissez-faire approach tends to be best and the mods here are pretty good at that.

This is the only message board i've been on that doesn't have power crazed nazi mods.  I've only been here a short while though, so maybe I missed something, or maybe they will in the future, but so far so good.

[arebelspy]

Having been a mod here, an admin there, a developer elsewhere... volunteer jobs with power tend to attract those who have none in their lives. A laissez-faire approach tends to be best and the mods here are pretty good at that.

This is the only message board i've been on that doesn't have power crazed nazi mods.  I've only been here a short while though, so maybe I missed something, or maybe they will in the future, but so far so good.

We're just biding our time, sucking you in... 

Just kidding.

I've literally quit a hobby that I used to travel for and spend hundreds of dollars a year on because of the moderating on their forums.  So it won't happen while I'm here.

If and when MMM sells the site to corporate, I imagine quite a bit would change, including forum moderation.

Plus the MMM community is so awesome very little moderation is needed.  Unfortunately there are a few * that do like to piss in the punchbowl, and it's frustrating not being sure the best way to handle those people without being biased.  Off topic discussion = fine.  Disagreeing opinions = awesome.   Being a * to other people for no reason, no.

/shrug

[jordanread]

Unfortunately there are a few * that do like to piss in the punchbowl, and it's frustrating not being sure the best way to handle those people without being biased.  Off topic discussion = fine.  Disagreeing opinions = awesome.   Being a * to other people for no reason, no.

/shrug

Oh man, I fucking hate asterisks.

[netskyblue]

Here's a doozy -

My young co-worker (24) and I were talking, I don't even remember the context, but I mentioned something about earning interest on my bank account.  I have a very good rate with a local bank, 3.25% APY, so atypical, I know.  She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief. 

It gets worse. 

She said, my bank charges me to keep money in my savings account.  A "maintenance fee."  I told her some banks do have fees attached, and that she's probably better off switching banks.  She said that yeah, that $48/month was really cutting into her trying to save, when she is only able to save $50/paycheck.

HOLY WTF??!  I then said you HAVE to change banks, that is BEYOND insane.  She honest to god thought that was just something everybody paid for the privilege of having a savings account.  Completely clueless.  50% of her savings going down the drain and it never even occurred to her that that might not be normal.

A few days later, I asked if she's done anything about switching banks yet, and she said she'd called her bank, and asked about the fee, and they apologized, saying there'd been some kind of mistake, (it should only be a $2/month fee or something).  So they refunded her 10 months worth of fees, plus gave her a $100 to make up for "the inconvenience." 

I told her to take the $100 and still switch banks, because she shouldn't be paying anything!  I told her where I bank, and my interest rate, but that if it's not a convenient place for her, she should at least look for someplace that doesn't charge anything.  Sadly, I don't think she will.

But geez, this poor girl was getting robbed and had no idea.

[johnny847]

Here's a doozy -

My young co-worker (24) and I were talking, I don't even remember the context, but I mentioned something about earning interest on my bank account.  I have a very good rate with a local bank, 3.25% APY, so atypical, I know.  She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief. 

It gets worse. 

She said, my bank charges me to keep money in my savings account.  A "maintenance fee."  I told her some banks do have fees attached, and that she's probably better off switching banks.  She said that yeah, that $48/month was really cutting into her trying to save, when she is only able to save $50/paycheck.

HOLY WTF??!  I then said you HAVE to change banks, that is BEYOND insane.  She honest to god thought that was just something everybody paid for the privilege of having a savings account.  Completely clueless.  50% of her savings going down the drain and it never even occurred to her that that might not be normal.

A few days later, I asked if she's done anything about switching banks yet, and she said she'd called her bank, and asked about the fee, and they apologized, saying there'd been some kind of mistake, (it should only be a $2/month fee or something).  So they refunded her 10 months worth of fees, plus gave her a $100 to make up for "the inconvenience." 

I told her to take the $100 and still switch banks, because she shouldn't be paying anything!  I told her where I bank, and my interest rate, but that if it's not a convenient place for her, she should at least look for someplace that doesn't charge anything.  Sadly, I don't think she will.

But geez, this poor girl was getting robbed and had no idea.

I think my head just exploded

[netskyblue]

Here's a doozy -

My young co-worker (24) and I were talking, I don't even remember the context, but I mentioned something about earning interest on my bank account.  I have a very good rate with a local bank, 3.25% APY, so atypical, I know.  She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief. 

It gets worse. 

She said, my bank charges me to keep money in my savings account.  A "maintenance fee."  I told her some banks do have fees attached, and that she's probably better off switching banks.  She said that yeah, that $48/month was really cutting into her trying to save, when she is only able to save $50/paycheck.

HOLY WTF??!  I then said you HAVE to change banks, that is BEYOND insane.  She honest to god thought that was just something everybody paid for the privilege of having a savings account.  Completely clueless.  50% of her savings going down the drain and it never even occurred to her that that might not be normal.

A few days later, I asked if she's done anything about switching banks yet, and she said she'd called her bank, and asked about the fee, and they apologized, saying there'd been some kind of mistake, (it should only be a $2/month fee or something).  So they refunded her 10 months worth of fees, plus gave her a $100 to make up for "the inconvenience." 

I told her to take the $100 and still switch banks, because she shouldn't be paying anything!  I told her where I bank, and my interest rate, but that if it's not a convenient place for her, she should at least look for someplace that doesn't charge anything.  Sadly, I don't think she will.

But geez, this poor girl was getting robbed and had no idea.

I think my head just exploded

Wait for it... here's the best part...

She's my company's accounts payable person.

[slugline]

She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief.

If the past five years was all I knew, I'd think it was foreign too. Way, way back, Paul Terhost in Cashing In On The American Dream wrote about living off the interest on bank CDs in retirement. Heck, when I first had money awareness in the 1990s, I took it for granted that we could get around 6% on money market funds without trying very hard.

[greenmimama]

Here's a doozy -

My young co-worker (24) and I were talking, I don't even remember the context, but I mentioned something about earning interest on my bank account.  I have a very good rate with a local bank, 3.25% APY, so atypical, I know.  She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief. 

It gets worse. 

She said, my bank charges me to keep money in my savings account.  A "maintenance fee."  I told her some banks do have fees attached, and that she's probably better off switching banks.  She said that yeah, that $48/month was really cutting into her trying to save, when she is only able to save $50/paycheck.

HOLY WTF??!  I then said you HAVE to change banks, that is BEYOND insane.  She honest to god thought that was just something everybody paid for the privilege of having a savings account.  Completely clueless.  50% of her savings going down the drain and it never even occurred to her that that might not be normal.

A few days later, I asked if she's done anything about switching banks yet, and she said she'd called her bank, and asked about the fee, and they apologized, saying there'd been some kind of mistake, (it should only be a $2/month fee or something).  So they refunded her 10 months worth of fees, plus gave her a $100 to make up for "the inconvenience." 

I told her to take the $100 and still switch banks, because she shouldn't be paying anything!  I told her where I bank, and my interest rate, but that if it's not a convenient place for her, she should at least look for someplace that doesn't charge anything.  Sadly, I don't think she will.

But geez, this poor girl was getting robbed and had no idea.

I think my head just exploded

Wait for it... here's the best part...

She's my company's accounts payable person.

Why is it that professionals can't manage their own money, or even budget or understand simple banking terms?

[GuitarStv]

Unfortunately there are a few * that do like to piss in the punchbowl, and it's frustrating not being sure the best way to handle those people without being biased.  Off topic discussion = fine.  Disagreeing opinions = awesome.   Being a * to other people for no reason, no.

/shrug

Oh man, I fucking hate asterisks.

I always liked the plucky little Gaul.

[infogoon]

Unfortunately there are a few * that do like to piss in the punchbowl, and it's frustrating not being sure the best way to handle those people without being biased.  Off topic discussion = fine.  Disagreeing opinions = awesome.   Being a * to other people for no reason, no.

/shrug

Oh man, I fucking hate asterisks.

I always liked the plucky little Gaul.

The sheer gaul of that guy.

[skunkfunk]

I've only been here a short while though

1000+ post count, short while. Checks out.

Unfortunately there are a few * that do like to piss in the punchbowl, and it's frustrating not being sure the best way to handle those people without being biased.  Off topic discussion = fine.  Disagreeing opinions = awesome.   Being a * to other people for no reason, no.

/shrinks

[EngineerMum]

This is not exactly overheard, more observed. I take my lunch with me to work pretty much every day. There are a couple of young guys whose mum or fiance pack their lunches, and an older guy who has restricted diabetes type lunches, we've become friendly through the daily chats while we heat up our meals. Everyone else in our 30 or so person office goes out to eat, every day. So usually the fridge is pretty empty. Today I noticed there were loads of lunches in there, at least 10, probably more. I was a bit puzzled, until I realised - we've recently switched from fortnightly to monthly pay runs, and pay day is next week. So it looks like a lot of the guys have blown the budget in the first 3 weeks and are now running short for their daily maccas / fancy sandwich / whatever other crap they buy runs. Mentioned my hypothesis to one of the guys, and he agreed that was why he was bringing lunch. To be fair, it is basically like missing a whole pay packet, so I can see cash flow being an issue, but we did get 3 or 4 months warning.

[skyrefuge]

My young co-worker (24) and I were talking, I don't even remember the context, but I mentioned something about earning interest on my bank account.  I have a very good rate with a local bank, 3.25% APY, so atypical, I know.  She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief.

 
Yeah, on it's own, this isn't too surprising. She simply hasn't been alive and saving at a time when interest-bearing bank accounts were a normal thing. Which is why she's lucky to have an "old person" like you to give perspective and explain that things have not always been this way, and likely will not continue this way indefinitely.

A couple of other important examples where current-conditions can effect (have effected) behavior, even among Mustachians, in eras where those conditions no longer apply:

• a significant part of the cultural interest in dividend-producing stocks today is a holdover from an era when trading fees were much higher than they are now, so dividends were the only low-cost way to generate income from investments. Dividend investors are like your 24-year-old who just never heard that now you can sell shares to achieve the same income.
  
• I predict that 72(t)/SEPP will be an underused method to tap tax-deferred access in the future, simply because, due to the currently-low interest rates, a generation of Mustachians is developing their plans while hearing little about it (with the Roth pipeline method getting the lion's share of the chatter). Yeah, 72(t)/SEPP doesn't make sense right now, but it may make a lot of sense in the future.

[netskyblue]

My young co-worker (24) and I were talking, I don't even remember the context, but I mentioned something about earning interest on my bank account.  I have a very good rate with a local bank, 3.25% APY, so atypical, I know.  She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief.

 
Yeah, on it's own, this isn't too surprising. She simply hasn't been alive and saving at a time when interest-bearing bank accounts were a normal thing. Which is why she's lucky to have an "old person" like you to give perspective and explain that things have not always been this way, and likely will not continue this way indefinitely.

A couple of other important examples where current-conditions can effect (have effected) behavior, even among Mustachians, in eras where those conditions no longer apply:

• a significant part of the cultural interest in dividend-producing stocks today is a holdover from an era when trading fees were much higher than they are now, so dividends were the only low-cost way to generate income from investments. Dividend investors are like your 24-year-old who just never heard that now you can sell shares to achieve the same income.
  
• I predict that 72(t)/SEPP will be an underused method to tap tax-deferred access in the future, simply because, due to the currently-low interest rates, a generation of Mustachians is developing their plans while hearing little about it (with the Roth pipeline method getting the lion's share of the chatter). Yeah, 72(t)/SEPP doesn't make sense right now, but it may make a lot of sense in the future.

Heh... I'm 31 :P

[rocksinmyhead]

It really doesn't help that the bay is... diagonal. Oh well. We all know how it works.

Yeah, caught me in the middle of an edit, but I honestly had no idea how it worked as a child.

geography is so funny. in the Twin Cities there's a suburb called West St. Paul, but it's actually south of St. Paul (although there's also a South St. Paul, southeast of West St. Paul), because west of St. Paul would be... Minneapolis.

Being from the eastern suburbs, I really hate that whole thing. Now, as a resident of St. Paul, my bigger pet peeve is somewhat more insane: within the city of St. Paul, there is a neighborhood called "the West Side". This is the SOUTHEAST side. I actually live on the western side of the city, and I have no way of describing where I live. Most people don't know the actual neighborhood names (Union Park represent!), so I'm typically stuck with "Near [college]" or "about equidistant from the two downtowns", depending on how familiar the asker is with MSP geography.

okay I realize this is a week later and off-topic, but I just saw this comment again and realized I had no idea where Union Park was despite 21 years in the St. Paul area. so I looked it up on Google Maps and am I losing my mind or did that used to be called Merriam Park?? I went to St. Thomas so I lived in that 'hood for four years. great area.

[skyrefuge]

Heh... I'm 31 :P

Yep, doesn't take much to make us old these days! When you were her age, the average rate on a 6-month CD was nearly 4%. Now it's 0.15%. Pretty extreme change in that time. Make sure you angrily shake your cane whenever you dodder past a bank with no-interest accounts!

[frugalnacho]

And tell her to keep off yer damn lawn.

[Cheddar Stacker]

I predict that 72(t)/SEPP will be an underused method to tap tax-deferred access in the future, simply because, due to the currently-low interest rates, a generation of Mustachians is developing their plans while hearing little about it (with the Roth pipeline method getting the lion's share of the chatter). Yeah, 72(t)/SEPP doesn't make sense right now, but it may make a lot of sense in the future.

Are you saying that with interest rates so low it's artificially reducing the maximum amount you can draw annually on the SEPP? So if/when interest rates increase so do the SEPP distributions?

That's good I guess, but I think I still like the Roth Pipeline better since it provides flexibility to manipulate taxable income as long as you don't have major cash flow needs. Although I don't see why you couldn't do both.

[auntie_betty]

Co-worker was telling me about a (pretty gruesome) eye procedure she's having next weekend. Afterwards she can't read or watch TV for a few hours so doesn't know what to do.

Me - How about an audio book?

CW - No, I'm getting hubby to take me out for a champagne breakfast.

Me -.............. thinks - "ah, I know where I can recount this" :)

[Louis the Cat]

I don't know...a gruesome eye procedure could easily warrant a champagne breakfast in my book, if you're up to going out at all.

[chicagomeg]

My young co-worker (24) and I were talking, I don't even remember the context, but I mentioned something about earning interest on my bank account.  I have a very good rate with a local bank, 3.25% APY, so atypical, I know.  She'd never heard of earning interest on a bank balance.  Like, the concept was so completely foreign to her, I had to explain it slowly, and she was in complete disbelief.

 
Yeah, on it's own, this isn't too surprising. She simply hasn't been alive and saving at a time when interest-bearing bank accounts were a normal thing. Which is why she's lucky to have an "old person" like you to give perspective and explain that things have not always been this way, and likely will not continue this way indefinitely.

A couple of other important examples where current-conditions can effect (have effected) behavior, even among Mustachians, in eras where those conditions no longer apply:

• a significant part of the cultural interest in dividend-producing stocks today is a holdover from an era when trading fees were much higher than they are now, so dividends were the only low-cost way to generate income from investments. Dividend investors are like your 24-year-old who just never heard that now you can sell shares to achieve the same income.
  
• I predict that 72(t)/SEPP will be an underused method to tap tax-deferred access in the future, simply because, due to the currently-low interest rates, a generation of Mustachians is developing their plans while hearing little about it (with the Roth pipeline method getting the lion's share of the chatter). Yeah, 72(t)/SEPP doesn't make sense right now, but it may make a lot of sense in the future.

Heh... I'm 31 :P

Hi, checking in as a fellow 20-something. Not letting this girl off the hook that easily. Well, maybe she gets off the hook, but not her parents. I remember well the days of great interest rates. In high school, my mom and I moved $2k of my savings account (which was most of it, to be fair) into CD's! I don't remember the rate exactly, but they were only 1 or 2 years, I'm thinking they paid at least 3 or 4%. It's not like banks paying meaningful interest is ancient history.

[skyrefuge]

Are you saying that with interest rates so low it's artificially reducing the maximum amount you can draw annually on the SEPP? So if/when interest rates increase so do the SEPP distributions?

Yeah. When MMM wrote his canonical How Much is Too Much in your 401(k) article, the max withdrawal rate for a 35-year-old via SEPP was about 2.9%, much lower than the Safe 4%, so it was kind of dismissed on that basis. Today that withdrawal rate is already up to 3.4%, while back in May 2010 it was a completely reasonable 4.2%.

I agree that in some (many?) cases, the Roth Pipeline has advantages over SEPP, but it can play out both ways, and yeah, of course using the two together is also possible. But I bet if interest rates had stayed high enough over the last few years to enable >4% WRs via SEPP, most of us wouldn't even be aware of the concept of a "Roth Pipeline" because its invention/promotion wouldn't have been necessary.

Hi, checking in as a fellow 20-something. Not letting this girl off the hook that easily. Well, maybe she gets off the hook, but not her parents.

Yeah, I agree with at least face-punching her parents/educators. I'm thankful for my mom getting me started on a passbook savings account as a kid (where I was getting something like 7%-8%!) And regardless of that, she still deserves a face-punch for assuming a $50/mo fee was normal, since, even if her parents are dead or never saved a penny in their lives, there are plenty of "free checking" ads out there from banks that she at least should have noticed.

[Goldielocks]

My young co-worker (24) and I were talking, I don't even remember the context, but I se conditions no longer apply:

• a significant part of the cultural interest in dividend-producing stocks today is a holdover from an era when trading fees were much higher than they are now, so dividends were the only low-cost way to generate income from investments. Dividend investors are like your 24-year-old who just never heard that now you can sell shares to achieve the same income.
  

Guilty!   I only realized this idea last month due to this forum...   In my defense it is because retirement *used to be* so far off, I was not concerned with the best strategy today versus 29 yrs from now.


I am still grappling with the concept that it is okay to eat the cow that gives the milk...
And -->
Appologies for the astericks....  I like 'em...[/list]

[arebelspy]

I've only been here a short while though

1000+ post count, short while. Checks out.

Unfortunately there are a few * that do like to piss in the punchbowl, and it's frustrating not being sure the best way to handle those people without being biased.  Off topic discussion = fine.  Disagreeing opinions = awesome.   Being a * to other people for no reason, no.

/shrinks

Heh, I wasn't even thinking of our conversation in the Apple thread.  Yes, being a * just because you can is trolling.  No, you haven't been bad, and were not one of the people I was thinking of.  :)

[MayDay]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

[fireferrets]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Oh gawd why?!?!?! =,=;

[Cheddar Stacker]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Oh gawd why?!?!?! =,=;

I really don't think that should be allowed to be called food.

[frugalnacho]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

A lunchable, as in one?  So many things wrong with that...

[gimp]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Oh gawd why?!?!?! =,=;

When I was a kid, I always wanted gushers and lunchables because other kids had them, but I never did. Now I can, just because I can. I had a late-night snack of marshmallows yesterday, because fuck you that's why. Yep, I occasionally buy junk food, the horror. Not that I would buy lunchables, because there's way better junk food I could eat.

Now, lunchables every day might be ... strange.

[dragoncar]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Now all you need is someone eating GoGurt and you'll have a trifecta

[Pooperman]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Now all you need is someone eating GoGurt and you'll have a trifecta

Gogurt would fit better in my lunch box... The same one I've had for 17 years now. It has my name on it and everything! (Well, it's fading). In cas you think it's some Optimus Prime lunchbox or whatever, it's not. It's an Eddie Bauer soft washable lunchbox. It goes in my brief case every day :). My lunches now consist of: carrots and leftovers most of the time... Same as when I was young pretty much.

[jordanread]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Now all you need is someone eating GoGurt and you'll have a trifecta

Gogurt would fit better in my lunch box... The same one I've had for 17 years now. It has my name on it and everything! (Well, it's fading). In cas you think it's some Optimus Prime lunchbox or whatever, it's not. It's an Eddie Bauer soft washable lunchbox. It goes in my brief case every day :). My lunches now consist of: carrots and leftovers most of the time... Same as when I was young pretty much.

I'm disappointed it's not an Optimus Prime one. I suggest getting a sharpie and remedying that situation immediately.

[rocksinmyhead]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Oh gawd why?!?!?! =,=;

When I was a kid, I always wanted gushers and lunchables because other kids had them, but I never did. Now I can, just because I can. I had a late-night snack of marshmallows yesterday, because fuck you that's why. Yep, I occasionally buy junk food, the horror. Not that I would buy lunchables, because there's way better junk food I could eat.

Now, lunchables every day might be ... strange.

I don't really crave the Lunchables, since they are basically overpriced cheese and crackers (which I do like), but I am not ashamed to admit that if someone gave me a free package of Gushers I would eat the shit out of them. I love Gushers!

There's a whole category of food that I just don't ever buy/completely avoid those aisles at the grocery store, because I love them and they are so overpriced and bad for you. Cereal, crackers, and fruit snacks come to mind. Oh and Zebra Cakes/Oatmeal Creme Pies/HoHos/etc. Dear god. I can't believe I'm admitting this!

[DeepEllumStache]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Now all you need is someone eating GoGurt and you'll have a trifecta

Gogurt would fit better in my lunch box... The same one I've had for 17 years now. It has my name on it and everything! (Well, it's fading). In cas you think it's some Optimus Prime lunchbox or whatever, it's not. It's an Eddie Bauer soft washable lunchbox. It goes in my brief case every day :). My lunches now consist of: carrots and leftovers most of the time... Same as when I was young pretty much.

I'm disappointed it's not an Optimus Prime one. I suggest getting a sharpie and remedying that situation immediately.

My lunch box looks like an owl and I did buy it from the selection clearly marketed at kids.  It's cute, awesomely insulated, and fits nicely in the backpack I use to walk to work.  Though since you've been using the same lunch box for 17 years, you get a pass on it not being an Optimus Prime one.

[Daley]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Now all you need is someone eating GoGurt and you'll have a trifecta

Gogurt would fit better in my lunch box... The same one I've had for 17 years now. It has my name on it and everything! (Well, it's fading). In cas you think it's some Optimus Prime lunchbox or whatever, it's not. It's an Eddie Bauer soft washable lunchbox. It goes in my brief case every day :). My lunches now consist of: carrots and leftovers most of the time... Same as when I was young pretty much.

I'm disappointed it's not an Optimus Prime one. I suggest getting a sharpie and remedying that situation immediately.

My lunch box looks like an owl and I did buy it from the selection clearly marketed at kids.  It's cute, awesomely insulated, and fits nicely in the backpack I use to walk to work.  Though since you've been using the same lunch box for 17 years, you get a pass on it not being an Optimus Prime one.

Optimus Prime? Total pass due to the age, but that just means it should have Optimus Primal on there instead...




I'm not sure which part of this post is worse: that a guy pushing 40 just made this joke, or that a guy who's not kept up with toy cartoons since the 1980's still somehow wound up dedicating neurons to store this potential joke for nearly two decades. Either way, my shame is deep.

[PMG]

I carry my lunch in a 22 year old "Munchmate Plus" by igloo.  Grandma gave it to me for my ninth birthday.  Gotta admit I'm a little embarrassed by it.  It's starting to look shabby but it is indestructible!  Most of my coworkers eat out or eat packaged junk food.  They are mystified and a little charmed by my mason jars of soup and tea. 

[Hunny156]

I carry my lunch in a 22 year old "Munchmate Plus" by igloo.  Grandma gave it to me for my ninth birthday.  Gotta admit I'm a little embarrassed by it.  It's starting to look shabby but it is indestructible!  Most of my coworkers eat out or eat packaged junk food.  They are mystified and a little charmed by my mason jars of soup and tea.

I usually stuff my lunch in my purse or bring it in a grocery bag.  My current purse is ridiculously over-sized, precisely so I can put anything in it.  Earlier this week, it was a quart mason jar of noodle soup.  I got a lot of interest in that mason jar, followed by comments of how canned soup is an OK substitute.  WHAT???  LOL, it's not like making soup is that hard, and from my last batch, we had large bowls for dinner, and I proceeded to fill up three quart jars!  That's a lot of mileage out of one round of cooking...

[Rural]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Now all you need is someone eating GoGurt and you'll have a trifecta

Gogurt would fit better in my lunch box... The same one I've had for 17 years now. It has my name on it and everything! (Well, it's fading). In cas you think it's some Optimus Prime lunchbox or whatever, it's not. It's an Eddie Bauer soft washable lunchbox. It goes in my brief case every day :). My lunches now consist of: carrots and leftovers most of the time... Same as when I was young pretty much.

I'm disappointed it's not an Optimus Prime one. I suggest getting a sharpie and remedying that situation immediately.

My lunch box looks like an owl and I did buy it from the selection clearly marketed at kids.  It's cute, awesomely insulated, and fits nicely in the backpack I use to walk to work.  Though since you've been using the same lunch box for 17 years, you get a pass on it not being an Optimus Prime one.

Optimus Prime? Total pass due to the age, but that just means it should have Optimus Primal on there instead...




I'm not sure which part of this post is worse: that a guy pushing 40 just made this joke, or that a guy who's not kept up with toy cartoons since the 1980's still somehow wound up dedicating neurons to store this potential joke for nearly two decades. Either way, my shame is deep.

I'm almost sure I'm older than you, and I carry my nice, insulated Hello Kitty lunchbox past crowds of my students without shame or irony every day.

[MandalayVA]

Last year I picked up a Zaza lunch tote at Costco and it's the best one I've ever owned.  It looks like a regular purse/tote (and it's got pink and purple and blue and lavender dots, it's quite possibly the most girly thing I own), but one BIG pocket is insulated and can hold my 20-ounce thermos and my two 10-ounce food jars at the same time.  It came with a salad bowl with a freezer pack that actually works and a tiny screw-top container for salad dressing.  No having to stand in line to use the scuzzy department microwave thanks to my Zaza!

[commodore perry]

I saw a large Jeep Wrangler with huge jacked up tires in the parking garage at work today.

License Plate: MPG SUKZ

Bumper Sticker:
"Cool Prius!"
          - Nobody

I drive a wrangler and I actually think that's really funny. I know, I know - face punches for driving a Wrangler. It's paid for and our net worth is ~1.3MM at age 35. It's my one and only guilty pleasure. I also don't have a daily commute.

[Pooperman]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

Now all you need is someone eating GoGurt and you'll have a trifecta

Gogurt would fit better in my lunch box... The same one I've had for 17 years now. It has my name on it and everything! (Well, it's fading). In cas you think it's some Optimus Prime lunchbox or whatever, it's not. It's an Eddie Bauer soft washable lunchbox. It goes in my brief case every day :). My lunches now consist of: carrots and leftovers most of the time... Same as when I was young pretty much.

I'm disappointed it's not an Optimus Prime one. I suggest getting a sharpie and remedying that situation immediately.

My lunch box looks like an owl and I did buy it from the selection clearly marketed at kids.  It's cute, awesomely insulated, and fits nicely in the backpack I use to walk to work.  Though since you've been using the same lunch box for 17 years, you get a pass on it not being an Optimus Prime one.

Optimus Prime? Total pass due to the age, but that just means it should have Optimus Primal on there instead...




I'm not sure which part of this post is worse: that a guy pushing 40 just made this joke, or that a guy who's not kept up with toy cartoons since the 1980's still somehow wound up dedicating neurons to store this potential joke for nearly two decades. Either way, my shame is deep.

I'm almost sure I'm older than you, and I carry my nice, insulated Hello Kitty lunchbox past crowds of my students without shame or irony every day.

The !Optimus Prime lunchbox is this (but solid black):

[Le Barbu]

You mean black or orange ?

[MayDay]

A grown adult man that I work with brings a lunchable to work for lunch.

Another man had gushers fruit snacks this week.

A lunchable, as in one?  So many things wrong with that...

Yes, just one. That's his whole lunch for an 8+ hour shift.

Gushers man has a Campbell's microwavable soup every day. Better than eating out but still expensive. I kindly inquired if he had a crock pot and suggested he make the same soup (beef vegetables) when he complained Campbell's was expensive. Hasn't happened yet. Maybe I'll give him a recipe if it comes up again.

[SisterX]

Not actually antimustachian, but funny:

I work at a University which had a $14 mil. budget shortfall this year (thanks, legislators, for deciding tax breaks for oil companies were more worthwhile than funding education!) and they're projecting the same next year.  So they're looking at programs to scale back on or cut outright, and the list came out the other day.  I was sitting in a meeting discussing it and someone pointed out that mathematics is on the list.  The person leading the meeting said, "Well, there's the B.A. and M.A., and the B.S. and M.S.  So if the B.A. goes away, that doesn't mean the B.S. will go away."  All I could think was, "That is the truest statement I have ever heard about the U."  Couldn't help snorting with laughter and then everyone looks at me, pauses...round of giggles around the table.