Overheard at Work

[MgoSam]

Well Toms does do the one for one thing, so you are paying for two pairs of shoes.

I don't know what brand you got, but most cheap brands are made in factories that don't necessarily pay living wages, and I know Toms is very particular about who manufacturers their shoes because of their mission, so that likely adds costs too.

The standard style is also only $60 (the boots are $89) and shipping (from them) is free over $25.
Not a price I pay for shoes, but really not outrageous for two pairs ethically sourced.

I don't know as much about Toms, but I am starting to see the light in paying for good quality shoes. Growing up I always got whatever was on clearance at Kohl's that fit and felt comfortable, but of course it didn't take long for them to not be as comfortable. I'm now tempted to start shopping at higher end places cause I spend a lot of time on my feet and as a runner, I do want to take care of my feet.

[Geostache]

It seems like most of my CW are semi-Mustachians (is that a thing), in that they all drive older model cars and bring their lunches to work. However, the few anti-Mustachians more than make up for it:

CW: What kind of vacuum cleaner do you have?
Me: I have a Dyson (bought before I discovered MMM and was a consumerist sucka). Why? Are you looking for a new vacuum?
CW: Yes. Mine isn't that old, but it's making a really weird and loud noise when I use it.
Me: Why don't you look for a vacuum machine repair shop? There's bound to be one in your area.
CW: I hadn't thought of that, that's a good idea!

Fast forward a few weeks. I had remembered to ask a follow up about the vacuum:

Me: Did you ever find a vacuum repair shop?
CW: No, I had my eye on this one vacuum cleaner. I found it at (discount box store) on a discount, and I had a coupon. I wound up getting the $300 vaccum for $63.00! I don't know what I'm going to do with my old one, though.

Granted, that is a good discount. But chances are the repair on her two-ish year old vacuum would likely have been less than she paid for the new vacuum.

[solon]

CW: Yes. Mine isn't that old, but it's making a really weird and loud noise when I use it.

Sounds like it has something stuck in the hose!

[trailrated]

Well Toms does do the one for one thing, so you are paying for two pairs of shoes.

I don't know what brand you got, but most cheap brands are made in factories that don't necessarily pay living wages, and I know Toms is very particular about who manufacturers their shoes because of their mission, so that likely adds costs too.

The standard style is also only $60 (the boots are $89) and shipping (from them) is free over $25.
Not a price I pay for shoes, but really not outrageous for two pairs ethically sourced.

I just got a pair of $275 Redwing boots, luckily the company I work for gave me a voucher for $250 so I paid $25. The last pair I got lasted me over two years till I finally wore a hole in the side. I keep them at home for yardwork now (I work 6 days a week) They are steel toed and waterproof, they oil them for you for free and you get replacement laces for life. In my industry it is all about function not fashion and they are so comfortable. Worth the $25 easy. If I had to pay the whole thing out of pocket I most likely would as well.

[lostamonkey]

A coworker just admitted to spending $600 on utilities per month. And he said it in an indifferent tone, as if it's something everyone does.

[galliver]

Well Toms does do the one for one thing, so you are paying for two pairs of shoes.

I don't know what brand you got, but most cheap brands are made in factories that don't necessarily pay living wages, and I know Toms is very particular about who manufacturers their shoes because of their mission, so that likely adds costs too.

The standard style is also only $60 (the boots are $89) and shipping (from them) is free over $25.
Not a price I pay for shoes, but really not outrageous for two pairs ethically sourced.

TOMS  buy-one-give-one model has incurred a fair amount of criticism, but it looks like they are working on some aspects of that criticism...still, not sure it's enough.
http://www.whydev.org/some-bad-news-about-toms-shoes/
http://www.pri.org/stories/2013-10-08/toms-shoes-rethinks-its-buy-one-give-one-model-helping-needy

[johnny847]

A coworker just admitted to spending $600 on utilities per month. And he said it in an indifferent tone, as if it's something everyone does.

WTF. His utilites are more than my rent + utilites - I just signed a sublease contract for a place that's $500 for rent + utilties. Now granted, it's a 2 bedroom unit so I have a roommate, but still that's ridiculous.

[johnny847]

A long time ago I worked at a startup company with a pretty decent percentage of smart people. Oddly, the company paid us on the final day of a two week pay period, instead of two weeks later, which was the standard at the time. That was weird because they had to get the paychecks ready before they actually knew if we had worked the whole two weeks.

At some point, the company wanted to switch from paying people on the final day of the same pay period to paying two weeks later. Management realized this would cause a two-week gap in peoples' cash flow, so they decided to extend everyone an interest-free loan in the amount of one paycheck, that they would receive when they would normally have received their paycheck on the day we'd be missing one. The loan wouldn't have to be paid back until the employee left the company. Sort of a replacement paycheck that you could keep until you left. Before the change, if someone left, they immediately stopped getting paid at the end of the current period. After the change, they'd still get one more paycheck after the current period ended.

So the company was basically making the change smooth and transparent to the employees while giving them a slightly nicely advantaged chunk of money to use at no cost for as long as they stayed employed there.

Whoa. You should have seen peoples' reactions. Several people just could not understand what was going on, and although this company treated us all very well (there were only seventeen of us and we all knew each other), they had a knee-jerk reaction of distrust. I remember sitting in a conference room with everyone, exasperated with how silly some people were being and trying to keep my mouth shut. Even after examples were laid out in front of them showing that "before" and "after" were equivalent, they insisted that the owner was trying to short them somehow. I was in my mid-20's. That was a big lesson for me in how arithmetic-challenged many people are.

I probably would not have been able to hold my tongue at that point.

It really bothers me that it's okay in this country to say proudly "I've always been bad at math." Why is this acceptable?? Ugh.

[Adventure Chick]

A girl I know shows off her new hair extensions and mentions that they are "only $350" (this girl makes maybe $24k AUD/year at most). They came out really nice but it's a "shame they'll only last for like a month" before they have to be replaced.

She mentions that she lives in a $1200/month apartment to SHARE -- so she and her boyfriend are only renting a room total and bills are not included in this.

Anyways, Monday she tells me she is really stressed because she only has $135 total to her name ("but at least I don't have student loans like you do!")

Today she and her boyfriend are having lunch with me and they both talk about the idea of going bowling tonight and having a few drinks afterward. They both pull out their phones and check their bank accounts, finding that they have about $90 total combined. YES. $90. The girl says, "sweet we have enough to go bowling -- it's like $50." And the guy says, "then I'll even have some money left over to fill up the gas tank!"

I mentioned that this sounds freaking stressful.

The girl says, "well at least I don't have student loans..."

Aye, that's true. But I sense a financial fiasco in the future.

[LennStar]

It seems like most of my CW are semi-Mustachians (is that a thing), in that they all drive older model cars and bring their lunches to work. However, the few anti-Mustachians more than make up for it:

CW: What kind of vacuum cleaner do you have?
Me: I have a Dyson (bought before I discovered MMM and was a consumerist sucka). Why? Are you looking for a new vacuum?
CW: Yes. Mine isn't that old, but it's making a really weird and loud noise when I use it.
Me: Why don't you look for a vacuum machine repair shop? There's bound to be one in your area.
CW: I hadn't thought of that, that's a good idea!

Fast forward a few weeks. I had remembered to ask a follow up about the vacuum:

Me: Did you ever find a vacuum repair shop?
CW: No, I had my eye on this one vacuum cleaner. I found it at (discount box store) on a discount, and I had a coupon. I wound up getting the $300 vaccum for $63.00! I don't know what I'm going to do with my old one, though.

Granted, that is a good discount. But chances are the repair on her two-ish year old vacuum would likely have been less than she paid for the new vacuum.

I have a Cheapo China one that cost 30€ (normal price) for about 15 years now.
Of course its only used once per week for about 30m² if you deduct all places where something stands.

[Cookie78]

A girl I know shows off her new hair extensions and mentions that they are "only $350" (this girl makes maybe $24k AUD/year at most). They came out really nice but it's a "shame they'll only last for like a month" before they have to be replaced.

She mentions that she lives in a $1200/month apartment to SHARE -- so she and her boyfriend are only renting a room total and bills are not included in this.

Anyways, Monday she tells me she is really stressed because she only has $135 total to her name ("but at least I don't have student loans like you do!")

Today she and her boyfriend are having lunch with me and they both talk about the idea of going bowling tonight and having a few drinks afterward. They both pull out their phones and check their bank accounts, finding that they have about $90 total combined. YES. $90. The girl says, "sweet we have enough to go bowling -- it's like $50." And the guy says, "then I'll even have some money left over to fill up the gas tank!"

I mentioned that this sounds freaking stressful.

The girl says, "well at least I don't have student loans..."

Aye, that's true. But I sense a financial fiasco in the future.

Crazy
I feel like this must be like watching a movie where you know the train bridge is out up ahead, but the passengers on the train have no idea.

[greenmimama]

It seems like most of my CW are semi-Mustachians (is that a thing), in that they all drive older model cars and bring their lunches to work. However, the few anti-Mustachians more than make up for it:

CW: What kind of vacuum cleaner do you have?
Me: I have a Dyson (bought before I discovered MMM and was a consumerist sucka). Why? Are you looking for a new vacuum?
CW: Yes. Mine isn't that old, but it's making a really weird and loud noise when I use it.
Me: Why don't you look for a vacuum machine repair shop? There's bound to be one in your area.
CW: I hadn't thought of that, that's a good idea!

Fast forward a few weeks. I had remembered to ask a follow up about the vacuum:

Me: Did you ever find a vacuum repair shop?
CW: No, I had my eye on this one vacuum cleaner. I found it at (discount box store) on a discount, and I had a coupon. I wound up getting the $300 vaccum for $63.00! I don't know what I'm going to do with my old one, though.

Granted, that is a good discount. But chances are the repair on her two-ish year old vacuum would likely have been less than she paid for the new vacuum.

I agree it was dumb not to get it fixed, even just to sell it again, but $63 for a new Vacuum is most likely close to what she would have paid for the repair costs, even if it was super simple, they charge for the appt. My last repair was $119, but the handle had to be replaced, I did get it refunded, because I argued (nicely) that the company should still be covering the handle.

[ender]

I agree it was dumb not to get it fixed, even just to sell it again, but $63 for a new Vacuum is most likely close to what she would have paid for the repair costs, even if it was super simple, they charge for the appt. My last repair was $119, but the handle had to be replaced, I did get it refunded, because I argued (nicely) that the company should still be covering the handle.

A surprisingly large number of companies are open to reimbursement/replacement if you call and act cordial or reasonable.

[Geostache]

I agree it was dumb not to get it fixed, even just to sell it again, but $63 for a new Vacuum is most likely close to what she would have paid for the repair costs, even if it was super simple, they charge for the appt. My last repair was $119, but the handle had to be replaced, I did get it refunded, because I argued (nicely) that the company should still be covering the handle.

A surprisingly large number of companies are open to reimbursement/replacement if you call and act cordial or reasonable.

Right? I suppose I balked more at the idea that she was going to throw out her perfectly-fixable, not-that-old vacuum. I actually thought about asking her for her old one, so my lazy arse wouldn't have to drag my heavy machine up and down the three floors in my house! If it was going to the landfill anyway, what's the harm? DH and I are handy and could likely fix the machine for a $10 or $20 part.

[Edit: added part about fixing it ourselves]

[horsepoor]

I agree it was dumb not to get it fixed, even just to sell it again, but $63 for a new Vacuum is most likely close to what she would have paid for the repair costs, even if it was super simple, they charge for the appt. My last repair was $119, but the handle had to be replaced, I did get it refunded, because I argued (nicely) that the company should still be covering the handle.

A surprisingly large number of companies are open to reimbursement/replacement if you call and act cordial or reasonable.

I wouldn't be surprised if it just needs to have the beater bar and belts taken apart and cleaned or something simple like that.

Right? I suppose I balked more at the idea that she was going to throw out her perfectly-fixable, not-that-old vacuum. I actually thought about asking her for her old one, so my lazy arse wouldn't have to drag my heavy machine up and down the three floors in my house! If it was going to the landfill anyway, what's the harm? DH and I are handy and could likely fix the machine for a $10 or $20 part.

[Edit: added part about fixing it ourselves]

[Moonwaves]

... and you get replacement laces for life.

Excellent service. I once had a pair of hiking boots that lasted for about three years but they had a hook-type thing rather than an eye at the very top and the trouble was that it had quite a sharp edge and wore down laces really, really quickly. After the second year I realised I had already spent more on laces than I had for the boots in the first place. I was very glad when the soles starting going and rather than get them resoled, I found a new pair. Which don't have the same problem.

[Melody]

A girl I know shows off her new hair extensions and mentions that they are "only $350" (this girl makes maybe $24k AUD/year at most). They came out really nice but it's a "shame they'll only last for like a month" before they have to be replaced.

She mentions that she lives in a $1200/month apartment to SHARE -- so she and her boyfriend are only renting a room total and bills are not included in this.

Anyways, Monday she tells me she is really stressed because she only has $135 total to her name ("but at least I don't have student loans like you do!")

Today she and her boyfriend are having lunch with me and they both talk about the idea of going bowling tonight and having a few drinks afterward. They both pull out their phones and check their bank accounts, finding that they have about $90 total combined. YES. $90. The girl says, "sweet we have enough to go bowling -- it's like $50." And the guy says, "then I'll even have some money left over to fill up the gas tank!"

I mentioned that this sounds freaking stressful.

The girl says, "well at least I don't have student loans..."

Aye, that's true. But I sense a financial fiasco in the future.

I'm guessing she also doesn't have a degree?
Best $23K I ever spent!!! Paid for itself many times over. Pre degree salary ($30K inc super), current $120K. I might be at $50-60k now without the degree. Payback period on my investment was less than 2 years (moving from $30K to 50K just by getting the degree) and it keeps giving back every year, and I'm only 4 years out. A sensibly sized student loan for a degree with solid employment prospects is generally not a bad idea. A $100k drama degree very well might be unless you become the next drew barrymore.

[eyePod]

It seems like most of my CW are semi-Mustachians (is that a thing), in that they all drive older model cars and bring their lunches to work. However, the few anti-Mustachians more than make up for it:

CW: What kind of vacuum cleaner do you have?
Me: I have a Dyson (bought before I discovered MMM and was a consumerist sucka). Why? Are you looking for a new vacuum?
CW: Yes. Mine isn't that old, but it's making a really weird and loud noise when I use it.
Me: Why don't you look for a vacuum machine repair shop? There's bound to be one in your area.
CW: I hadn't thought of that, that's a good idea!

Fast forward a few weeks. I had remembered to ask a follow up about the vacuum:

Me: Did you ever find a vacuum repair shop?
CW: No, I had my eye on this one vacuum cleaner. I found it at (discount box store) on a discount, and I had a coupon. I wound up getting the $300 vaccum for $63.00! I don't know what I'm going to do with my old one, though.

Granted, that is a good discount. But chances are the repair on her two-ish year old vacuum would likely have been less than she paid for the new vacuum.

Take it for free, repair it (or get it repaired), and re-sell it on craigslist!

[Gen Y Finance Journey]

A $100k drama degree very well might be unless you become the next drew barrymore.

Well to become the next Drew Barrymore, first you'd have to born into a family that already has a legacy in Hollywood and get cast in your first major motion picture before you're 10 years old. No degree needed. ;)

[Melody]

Ha ha ha cheers. Can you tell I don't follow pop culture much!!!

[Primm]

Ha ha! Sorry for scaring everyone! I didn't realise it was on a different day across the pond.

I do have another funny thing to share from work, though, to make up for it.

We all know what FU means here, but at work it means 'follow up'. So we have FU letters, FU meetings, FU dates... all the time! And it makes me giggle every single time. I can't be the only one who haas this!

It has the same meaning at my work. We have two clinics as well, one for long term follow up, and one for short term... yep, STFU.

And the local university changed it's name a few years back to Federation University. The kids love walking around in sweatshirts with FU on them. :)

[LennStar]

A $100k drama degree very well might be unless you become the next drew barrymore.

Well to become the next Drew Barrymore, first you'd have to born into a family that already has a legacy in Hollywood and get cast in your first major motion picture before you're 10 years old. No degree needed. ;)

That also works for CEO positions or political ambitions. It just helps if people on the same "hight" of job already did know you wjhen you were small and cute :D

[zephyr911]

It seems like most of my CW are semi-Mustachians (is that a thing), in that they all drive older model cars and bring their lunches to work. However, the few anti-Mustachians more than make up for it:

CW: What kind of vacuum cleaner do you have?
Me: I have a Dyson (bought before I discovered MMM and was a consumerist sucka). Why? Are you looking for a new vacuum?
CW: Yes. Mine isn't that old, but it's making a really weird and loud noise when I use it.
Me: Why don't you look for a vacuum machine repair shop? There's bound to be one in your area.
CW: I hadn't thought of that, that's a good idea!

Fast forward a few weeks. I had remembered to ask a follow up about the vacuum:

Me: Did you ever find a vacuum repair shop?
CW: No, I had my eye on this one vacuum cleaner. I found it at (discount box store) on a discount, and I had a coupon. I wound up getting the $300 vaccum for $63.00! I don't know what I'm going to do with my old one, though.

Granted, that is a good discount. But chances are the repair on her two-ish year old vacuum would likely have been less than she paid for the new vacuum.

Point of order:
There's consumerist sucka, and then there's functional shit that takes a beating and still delivers. I got tired of struggling with cheap hand-me-down vaccums and spent ~$300 on a refurb Dyson, which still sucks like a pro after 4 years. The dog hair it's processed could clothe an army. Thus, I consider this no more wasteful than my commercial-grade mop bucket, or my DeWalt tools, all of which are like new (functionally) after at least that long. If any of them broke, I'd fix them - because they're quality tools built to last, which makes them worth fixing. Not so much with the things I used to have.
In your CW's case, the merits of fixing vs. replacing would depend on the original equipment. If they actually got something better that will require less maintenance in the long run, and for only $63, then bravo. Now all they need to do is figure out a way to cash out any remaining value in that old one....

[eyePod]

It seems like most of my CW are semi-Mustachians (is that a thing), in that they all drive older model cars and bring their lunches to work. However, the few anti-Mustachians more than make up for it:

CW: What kind of vacuum cleaner do you have?
Me: I have a Dyson (bought before I discovered MMM and was a consumerist sucka). Why? Are you looking for a new vacuum?
CW: Yes. Mine isn't that old, but it's making a really weird and loud noise when I use it.
Me: Why don't you look for a vacuum machine repair shop? There's bound to be one in your area.
CW: I hadn't thought of that, that's a good idea!

Fast forward a few weeks. I had remembered to ask a follow up about the vacuum:

Me: Did you ever find a vacuum repair shop?
CW: No, I had my eye on this one vacuum cleaner. I found it at (discount box store) on a discount, and I had a coupon. I wound up getting the $300 vaccum for $63.00! I don't know what I'm going to do with my old one, though.

Granted, that is a good discount. But chances are the repair on her two-ish year old vacuum would likely have been less than she paid for the new vacuum.

Point of order:
There's consumerist sucka, and then there's functional shit that takes a beating and still delivers. I got tired of struggling with cheap hand-me-down vaccums and spent ~$300 on a refurb Dyson, which still sucks like a pro after 4 years. The dog hair it's processed could clothe an army. Thus, I consider this no more wasteful than my commercial-grade mop bucket, or my DeWalt tools, all of which are like new (functionally) after at least that long. If any of them broke, I'd fix them - because they're quality tools built to last, which makes them worth fixing. Not so much with the things I used to have.
In your CW's case, the merits of fixing vs. replacing would depend on the original equipment. If they actually got something better that will require less maintenance in the long run, and for only $63, then bravo. Now all they need to do is figure out a way to cash out any remaining value in that old one....

Can't agree more. We have a refurbished dyson (bought from Woot) and I think I'm going to get a Mielhe next time...

[hernandz]

My 10-year old Dyson still going strong.  I just ordered a new hose, and I have an extra filter.  Really love that it's so easy to order parts for it, and I can take so much of it apart without tools.

[dragoncar]

My 10-year old Dyson still going strong.  I just ordered a new hose, and I have an extra filter.  Really love that it's so easy to order parts for it, and I can take so much of it apart without tools.

I also have a 10+ year Dyson.  But I'm lazy so that's not saying too much.  The problem with anecdotes like this is we have no idea if current models will last so long!

[galliver]

I totally apologize for continuing the vacuum-related foam:

We got an Electrolux stick/hand vac combo for our laminate floored 1BR. It. Is. The. Best. Because you can grab it from the charger anytime and clean up any dusty corner or rug, any small mess, any scary spider you find hiding in your tupperware. Probably wouldn't work for a big, carpeted place all on its own, but it definitely encourages regular upkeep!

[forummm]

"A million dollars really isn't that much money anymore."

[RyanAtTanagra]

"A million dollars really isn't that much money anymore."

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

CW: Yea that's not that much, it's not like it'd be enough to stop working
Me: That would be $120k/yr forever
CW: Exactly, so you'd have to keep working
Me: O_o

[johnny847]

"A million dollars really isn't that much money anymore."

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

CW: Yea that's not that much, it's not like it'd be enough to stop working
Me: That would be $120k/yr forever
CW: Exactly, so you'd have to keep working
Me: O_o

I can't even. Barring paying for multiple kids' tuitions at expensive private universities in full (and even that should be only for four years per kid), how the fuck can somebody spend that much in a year?
I doubt I could spend that much even if I tried.

[KingGeorgeHarrison]

Friend the other day attempted to argue that $12m was not enough to retire on. How can people be so financially illiterate? We spend at least 40 hours and more likely 50+ hours per week devoted to earning this money and to be so willy-nilly with it is baffling.

[RWD]

Friend the other day attempted to argue that $12m was not enough to retire on. How can people be so financially illiterate? We spend at least 40 hours and more likely 50+ hours per week devoted to earning this money and to be so willy-nilly with it is baffling.

Of course it isn't! That's less than half a million a year with a 4% withdrawal rate. Jet fuel isn't free, you know?

[bzzzt]

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

I've participated in these as well. I used to be the guy who would say "Even if I won, I would keep working." Now, it would be more like the scene out of Half Baked: "FU. FU. FU. You're cool. FU. I'm out."

Link for those who haven't seen it (NSFW, language): https://www.youtube.com/watch?v=hTOKJTRHMdw

[auntie_betty]

We had 12 bus drivers near me win around £3 million each. All quit their jobs (though no no-one did walk off leaving the bus half way round a route which was the rumour for a while!). It's a very Labour, working class town - the standing joke was the lottery created more job vacancies in the town than the Conservatives had ever managed to do. 

Where I used to work we had a lottery syndicate. One director was worried about the impact on the company if we won - so she joined as well so she could lead the conga out the door :) Never happened though.

[Wings5]

I can't even. Barring paying for multiple kids' tuitions at expensive private universities in full (and even that should be only for four years per kid), how the fuck can somebody spend that much in a year?
I doubt I could spend that much even if I tried.

Neither can sorority girls; that's why they go out in groups of three. Try this book...

[dragoncar]

Friend the other day attempted to argue that $12m was not enough to retire on. How can people be so financially illiterate? We spend at least 40 hours and more likely 50+ hours per week devoted to earning this money and to be so willy-nilly with it is baffling.

It might not be illiteracy.  Your friend might have a goal to live large.  The largest life possible.  In which case, no amount of money is enough to stop hustling.

[Middlesbrough]

That is hilarious wings5!

[Hedge_87]

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

I've participated in these as well. I used to be the guy who would say "Even if I won, I would keep working." Now, it would be more like the scene out of Half Baked: "FU. FU. FU. You're cool. FU. I'm out."

Link for those who haven't seen it (NSFW, language): https://www.youtube.com/watch?v=hTOKJTRHMdw

Yep that's what I would do too.... there are days it's hard to resist even though I am nowhere near FI.... one of these days though.

[boarder42]

"A million dollars really isn't that much money anymore."

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

CW: Yea that's not that much, it's not like it'd be enough to stop working
Me: That would be $120k/yr forever
CW: Exactly, so you'd have to keep working
Me: O_o

I can't even. Barring paying for multiple kids' tuitions at expensive private universities in full (and even that should be only for four years per kid), how the fuck can somebody spend that much in a year?
I doubt I could spend that much even if I tried.

B/c they arent looking at their spending they are looking at what they are making.  i fell into the same trap before i found this site last year.  Most people save "some" of their salary.  also FICA and taxes come in to play too.  so once you take out those expenses.  you would likely pay 0 tax on the 120k b/c it would be in qualifying accounts ie LTCGs or QDs.  and pretty much forever you wouldnt be paying taxes b/c you'd be in the 15% bracket on earnings.  so 120k per year in taxable withdraws is really closer to 150-160k in annual income.

[johnny847]

"A million dollars really isn't that much money anymore."

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

CW: Yea that's not that much, it's not like it'd be enough to stop working
Me: That would be $120k/yr forever
CW: Exactly, so you'd have to keep working
Me: O_o

I can't even. Barring paying for multiple kids' tuitions at expensive private universities in full (and even that should be only for four years per kid), how the fuck can somebody spend that much in a year?
I doubt I could spend that much even if I tried.

B/c they arent looking at their spending they are looking at what they are making.  i fell into the same trap before i found this site last year.  Most people save "some" of their salary.  also FICA and taxes come in to play too.  so once you take out those expenses.  you would likely pay 0 tax on the 120k b/c it would be in qualifying accounts ie LTCGs or QDs.  and pretty much forever you wouldnt be paying taxes b/c you'd be in the 15% bracket on earnings.  so 120k per year in taxable withdraws is really closer to 150-160k in annual income.

Heh true. Lots of people have no idea how much they spend in a year, but they do know their gross income and their paycheck amounts (which is probably not going to multiply out to their net income because they probably have their tax withholding set up incorrectly).

[forummm]

"A million dollars really isn't that much money anymore."

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

CW: Yea that's not that much, it's not like it'd be enough to stop working
Me: That would be $120k/yr forever
CW: Exactly, so you'd have to keep working
Me: O_o

I can't even. Barring paying for multiple kids' tuitions at expensive private universities in full (and even that should be only for four years per kid), how the fuck can somebody spend that much in a year?
I doubt I could spend that much even if I tried.

B/c they arent looking at their spending they are looking at what they are making.  i fell into the same trap before i found this site last year.  Most people save "some" of their salary.  also FICA and taxes come in to play too.  so once you take out those expenses.  you would likely pay 0 tax on the 120k b/c it would be in qualifying accounts ie LTCGs or QDs.  and pretty much forever you wouldnt be paying taxes b/c you'd be in the 15% bracket on earnings.  so 120k per year in taxable withdraws is really closer to 150-160k in annual income.

Heh true. Lots of people have no idea how much they spend in a year, but they do know their gross income and their paycheck amounts (which is probably not going to multiply out to their net income because they probably have their tax withholding set up incorrectly).

One coworker had a 6-figure income, had a husband with a 6-figure income, the husband had a 6-figure pension, and they had free healthcare for life through her husband's retirement. Yet she was teaching classes at a college on the side ($5k per class) on top of her busy job and being a parent to 4 kids because they "needed the money". They were bringing in at least $400k before the side job.

[greenmimama]

"A million dollars really isn't that much money anymore."

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

CW: Yea that's not that much, it's not like it'd be enough to stop working
Me: That would be $120k/yr forever
CW: Exactly, so you'd have to keep working
Me: O_o

I can't even. Barring paying for multiple kids' tuitions at expensive private universities in full (and even that should be only for four years per kid), how the fuck can somebody spend that much in a year?
I doubt I could spend that much even if I tried.

B/c they arent looking at their spending they are looking at what they are making.  i fell into the same trap before i found this site last year.  Most people save "some" of their salary.  also FICA and taxes come in to play too.  so once you take out those expenses.  you would likely pay 0 tax on the 120k b/c it would be in qualifying accounts ie LTCGs or QDs.  and pretty much forever you wouldnt be paying taxes b/c you'd be in the 15% bracket on earnings.  so 120k per year in taxable withdraws is really closer to 150-160k in annual income.

Heh true. Lots of people have no idea how much they spend in a year, but they do know their gross income and their paycheck amounts (which is probably not going to multiply out to their net income because they probably have their tax withholding set up incorrectly).

One coworker had a 6-figure income, had a husband with a 6-figure income, the husband had a 6-figure pension, and they had free healthcare for life through her husband's retirement. Yet she was teaching classes at a college on the side ($5k per class) on top of her busy job and being a parent to 4 kids because they "needed the money". They were bringing in at least $400k before the side job.

That is incredibly sad, maybe she was trying to stay away from home, 4 kids can be a bunch especially if they are entitled brats ;)

[forummm]

"A million dollars really isn't that much money anymore."

Every once in a while a handful of us will do a lotto pool.  We were playing a smaller one, around 40mil.  The payout after taxes would have been about 3mil each.

CW: Yea that's not that much, it's not like it'd be enough to stop working
Me: That would be $120k/yr forever
CW: Exactly, so you'd have to keep working
Me: O_o

I can't even. Barring paying for multiple kids' tuitions at expensive private universities in full (and even that should be only for four years per kid), how the fuck can somebody spend that much in a year?
I doubt I could spend that much even if I tried.

B/c they arent looking at their spending they are looking at what they are making.  i fell into the same trap before i found this site last year.  Most people save "some" of their salary.  also FICA and taxes come in to play too.  so once you take out those expenses.  you would likely pay 0 tax on the 120k b/c it would be in qualifying accounts ie LTCGs or QDs.  and pretty much forever you wouldnt be paying taxes b/c you'd be in the 15% bracket on earnings.  so 120k per year in taxable withdraws is really closer to 150-160k in annual income.

Heh true. Lots of people have no idea how much they spend in a year, but they do know their gross income and their paycheck amounts (which is probably not going to multiply out to their net income because they probably have their tax withholding set up incorrectly).

One coworker had a 6-figure income, had a husband with a 6-figure income, the husband had a 6-figure pension, and they had free healthcare for life through her husband's retirement. Yet she was teaching classes at a college on the side ($5k per class) on top of her busy job and being a parent to 4 kids because they "needed the money". They were bringing in at least $400k before the side job.

That is incredibly sad, maybe she was trying to stay away from home, 4 kids can be a bunch especially if they are entitled brats ;)

2 weren't living with them any more (older). But they were probably spoiled.

[MillenialMustache]

I think I have a pretty good one.

When I started my job I was given a company iPad. I think an older one - it is four years old now. I never use it, because I know I am going to retire in the next couple of years and I didn't want to get attached/break it. My coworker uses his all the time and something stopped working. He asked our supervisor for a new one. This caused us all to get brand new iPad Airs. I even said I didn't want one, and that my current one was fine. Nope, still have a brand new iPad Air. Not even sure exactly what they are doing with the old ones.

[Tallgirl1204]

I think I have a pretty good one.

When I started my job I was given a company iPad. I think an older one - it is four years old now. I never use it, because I know I am going to retire in the next couple of years and I didn't want to get attached/break it. My coworker uses his all the time and something stopped working. He asked our supervisor for a new one. This caused us all to get brand new iPad Airs. I even said I didn't want one, and that my current one was fine. Nope, still have a brand new iPad Air. Not even sure exactly what they are doing with the old ones.

I confess we're hooked on our iPad-- it has 3G and we use it a lot while traveling.  That said, my husband does not have a cell phone and I only have a work one-- so the iPad is our primary lifeline to the world when we travel, at $20/month (which we can turn off and on as needed).  That also said, it's about four years old, still works great, and (knock on wood) there's no reason to fix what isn't broken. 

[Middlesbrough]

I think I have a pretty good one.

When I started my job I was given a company iPad. I think an older one - it is four years old now. I never use it, because I know I am going to retire in the next couple of years and I didn't want to get attached/break it. My coworker uses his all the time and something stopped working. He asked our supervisor for a new one. This caused us all to get brand new iPad Airs. I even said I didn't want one, and that my current one was fine. Nope, still have a brand new iPad Air. Not even sure exactly what they are doing with the old ones.

I confess we're hooked on our iPad-- it has 3G and we use it a lot while traveling.  That said, my husband does not have a cell phone and I only have a work one-- so the iPad is our primary lifeline to the world when we travel, at $20/month (which we can turn off and on as needed).  That also said, it's about four years old, still works great, and (knock on wood) there's no reason to fix what isn't broken.

Hahaha! I am currently reading from the company iPad. Executive within my department is an Ifreak and upgrades every time a new Idevice comes out. Two IPads ago, I received the old one. It is really nice, but it isn't nearly as good as my ancient laptop I have had since college. Spreadsheets being a big one. I think a lot of people would agree on this board.

[coffeehound]

"I just hired a financial manager, to manage my finances.  Only $750 a year."  Yeesh.

[LennStar]

"I just hired a financial manager, to manage my finances.  Only $750 a year."  Yeesh.

I'll do the job for only $500 ;)

[infogoon]

Hahaha! I am currently reading from the company iPad. Executive within my department is an Ifreak and upgrades every time a new Idevice comes out. Two IPads ago, I received the old one. It is really nice, but it isn't nearly as good as my ancient laptop I have had since college. Spreadsheets being a big one. I think a lot of people would agree on this board.

iPads are terrible for creating content, in general. They're really designed more for consumption.

I'm heavily involved with the mobility program for my employer; there are a lot of specific use cases that tablets are great for, but they're just awful for general office productivity.

[rocksinmyhead]

I think I have a pretty good one.

When I started my job I was given a company iPad. I think an older one - it is four years old now. I never use it, because I know I am going to retire in the next couple of years and I didn't want to get attached/break it. My coworker uses his all the time and something stopped working. He asked our supervisor for a new one. This caused us all to get brand new iPad Airs. I even said I didn't want one, and that my current one was fine. Nope, still have a brand new iPad Air. Not even sure exactly what they are doing with the old ones.

I confess we're hooked on our iPad-- it has 3G and we use it a lot while traveling.  That said, my husband does not have a cell phone and I only have a work one-- so the iPad is our primary lifeline to the world when we travel, at $20/month (which we can turn off and on as needed).  That also said, it's about four years old, still works great, and (knock on wood) there's no reason to fix what isn't broken.

Hahaha! I am currently reading from the company iPad. Executive within my department is an Ifreak and upgrades every time a new Idevice comes out. Two IPads ago, I received the old one. It is really nice, but it isn't nearly as good as my ancient laptop I have had since college. Spreadsheets being a big one. I think a lot of people would agree on this board.

yeah, I have not really understood the appeal of an iPad. if I'm out and about, my phone is fine, I don't need a huge screen. if I'm sitting down somewhere, I'd rather just have a fully functional laptop (or even a Surface or similar... not that I would ever spend that much money, but my dad has one and it's pretty sweet). I guess I can see it as a good kid entertainment device, as much as I hate that idea :)

Hahaha! I am currently reading from the company iPad. Executive within my department is an Ifreak and upgrades every time a new Idevice comes out. Two IPads ago, I received the old one. It is really nice, but it isn't nearly as good as my ancient laptop I have had since college. Spreadsheets being a big one. I think a lot of people would agree on this board.

iPads are terrible for creating content, in general. They're really designed more for consumption.

yeah, that makes sense to me!