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Arnathor

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For me it is stiff upper lip time and to save most of what I earn.
 

Fwiffo

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Fwiffo Fwiffo Arnathor Arnathor Thruth
My brother and I already gave up on home ownership in the city. Neither of us, unless his wife convinces him, wants to live in Timbuktu where you can't see a 10 storey plus building when you look out a window so we're renting forever. Hopefully the landlord grandfathers a good rental price for his baby.

Even if you buy a detached house there are the maintenance and property tax expenses.
 

güero

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My brother and I already gave up on home ownership in the city. Neither of us, unless his wife convinces him, wants to live in Timbuktu where you can't see a 10 storey plus building when you look out a window so we're renting forever. Hopefully the landlord grandfathers a good rental price for his baby.

Even if you buy a detached house there are the maintenance and property tax expenses.
Didn't expect you to be such a dedicated rentoid.
 

güero

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It's what us lower middle class/working class have to get by with.
You can easily get a couple of millions 100% mortgage financed and just buy whatever you want. Don't pay back anything, just pay 0.x% interest. It will likely be less than your current rent, for the same type of house. If rates go up, just sell or rent it out. Else, worst thing that can happen is that someday the house will inherit your debt.
 

ballmouse

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I think I can count the number of times I've been on video with 1 hand since the pandemic started. Sometimes I'm even the only one not on video.
 

Pimpernel Smith

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You can easily get a couple of millions 100% mortgage financed and just buy whatever you want. Don't pay back anything, just pay 0.x% interest. It will likely be less than your current rent, for the same type of house. If rates go up, just sell or rent it out. Else, worst thing that can happen is that someday the house will inherit your debt.
Never understood that philosophy: just pay off the interest. Why?

All the mortgage advisors here in the Netherlands were telling us to do just that when we got ours. As you will get the tax rebate for longer. Well, the tax rebate is much less these days and continues to diminish. And once you own it, you're not going to be worrying about a tax rebate are you?

Straight forward: repayment mortgage.

It's a problem, my accountant was telling me he wants to help his daughter get on the property ladder, but there's so many restrictions here. You're limited in what you can gift your offspring which I think is pretty sour as you've earned it.
 

güero

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Never understood that philosophy: just pay off the interest. Why?
Fairly simple - interest rate is zero. If you can finance at 0.5-0.8% while easily and conservatively getting >2% (after-tax) for investments, it is stupid not to leverage to the hilt. Even if you had the money and could buy the house 100% cash, it would still be better to mortgage as much as possible and invest elsewhere.
 

ballmouse

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At some point I wonder if the younger generation is going to reject the notion of aspiring to own a home. Maybe some sort of timesharing startup will render home ownership old fashioned.
 

Pimpernel Smith

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Not sure. Office cost savings v policing skivers. Big choices to be made.
Also the Big Four and similar organisations rely very much on a certain physical delivery, especially at the bring them in, marketing stage. You need an impressive office, with the right ambiance to hook the client.

Take that away, and it's open season, all the lesser ones are your equal if they've got a bit of global presence.
 

Fwiffo

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Also the Big Four and similar organisations rely very much on a certain physical delivery, especially at the bring them in, marketing stage. You need an impressive office, with the right ambiance to hook the client.

Take that away, and it's open season, all the lesser ones are your equal if they've got a bit of global presence.

You mean these guys?

"From now on if you work for PriceWaterhouseCooper you'll be able to work from home a couple of days a week and start as early or late as you like."


...can I start at noon on the day when our client comes in at 9?

Can I work remotely the day they fly in to visit our office?

Can I work 35 hours a week when the senior partner agreed to churn out this market study and business case in one week?
 

Arnathor

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You mean these guys?

"From now on if you work for PriceWaterhouseCooper you'll be able to work from home a couple of days a week and start as early or late as you like."


...can I start at noon on the day when our client comes in at 9?

Can I work remotely the day they fly in to visit our office?

Can I work 35 hours a week when the senior partner agreed to churn out this market study and business case in one week?
I like this comment on the page:

"As a manager of a Hooters bar I am really fed up working from home. I'm missing spending time with my work colleagues."
 
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Fwiffo

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"Not driving into work has saved her mileage on her car and money on gas, and it has given her the opportunity to schedule doctors' and dentists' appointments more easily after work, as well as take her dog for a walk on her lunch break."

They do have clinics and dentists around workplaces. Arguably these places are dying because you aren't showing up for work and tagging an appointment to the start or end or mid part of the day.

"'The other day, I was in the office, and one of the attorneys was talking to me, and the printer was running, and there were all of these background noises happening,' she said. 'I could not get my attention to focus, because I'm so used to a quiet place now that a little bit of noise — even though it wasn't that loud — took me out.'"

Noise cancelling headphones? Mindful meditation? ADD medicine?

"Some of our social skills have probably atrophied a bit, so there's going to be a little awkward transition where we try to figure out both how to engage in small talk but also how to find the right words in the right sentences and ask the right questions in a way that we haven't been,"

For 95 or more percent of your life you interacted with other human beings and for 14 months you didn't. Now it's too late to go back? Those are some deeply entrenched behavioural changes.
 

Arnathor

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Ironically, the business I work at is in the process of moving into an even larger office building.
 

Fwiffo

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Fwiffo Fwiffo you do miss your cubicle a lot, don't you?

It's either that or I go 90km to my windowless office but I don't fancy that. In lieu of that I am hanging out with people in their 20s and 30s so I get exposure to the highest risk people.

Ironically, the business I work at is in the process of moving into an even larger office building.

Some commercial landlords were handing out one year of free rent if you commit to an X year lease.
 

Pimpernel Smith

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Same here. Wonder how this will work out.
We've continuously downsized since 2014. Nothing worse than large open plan offices, underpopulated.

Our sector the competition is fierce and you can only compete with sleek and tight delivery systems with immediate client access to management. The days of vast overheads, PA's, secretaries to the PA's, armies of coordinators, vault sized server rooms, several €800 a month photocopiers and people who did things for you are over.

I'm keeping to the managed office solutions, I've saved a fortune, but there are several drawbacks like shared facilities. And you'll be amazed at how many grown males of the species are not yet toilet trained.
 

Fwiffo

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"'When people are remote, I worry about what their career trajectory is going to be,' said IBM chief executive Arvind Krishna.

'If they want to become a people manager, if they want to get increasing responsibilities, or if they want to build a culture within their teams, how are we going to do that remotely?' he asked."

"'Amazon also issued a statement to employees last week saying: 'Our plan is to return to an office-centric culture as our baseline. We believe it enables us to invent, collaborate, and learn together most effectively.'"
 

Fwiffo

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Fwiffo Fwiffo

We seem okay in the Americas. What's the problem?

Are you really worried the middle class is disappearing in sub-saharan Africa and Southeast Asia? They're oceans away so their migrants won't be clamouring to climb the border walls into North America any time soon.
 

Fwiffo

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"Some operators, like Virgin Voyages, are seeing it as a chance to introduce cruising to a new customer, with 3 or 4-day trips as an alternative to a staycation. Along with testing and cleaning protocols, they are requiring all passengers and crew to be fully vaccinated before they travel onboard."

People still want to go on these death traps?
 

Arnathor

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"Some operators, like Virgin Voyages, are seeing it as a chance to introduce cruising to a new customer, with 3 or 4-day trips as an alternative to a staycation. Along with testing and cleaning protocols, they are requiring all passengers and crew to be fully vaccinated before they travel onboard."

People still want to go on these death traps?
How many people died in total?

I imagine more people die in driving accidents than on Cruise ships. Stay scared forever? No, let the people decide how much risk they are willing to take on. What is the point of taking a vaccine and not living as though you are immune?

I want to go to this: https://www.startrekthecruise.com
 
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Fwiffo

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How many people died in total?

I imagine more people die in driving accidents than on Cruise ships. Stay scared forever? No, let the people decide how much risk they are willing to take on. What is the point of taking a vaccine and not living as though you are immune?

I want to go to this: https://www.startrekthecruise.com

I agree with your latter points but it still doesn't convince me that people don't pile into 180 sq ft windowless rooms on cruises to pig out on free food and second rate live entertainment.
 

Rambo

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Fwiffo

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I cashed out a year before the prior election thinking a Democratic government would herald a recession. This was before the coronavirus was a thing. In retrospect I could have made double digits if I left everything in ETFs.
 

ballmouse

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I cashed out stocks once. I don't think I'm ever going to do that again unless I absolutely need that money for something. (Yes, I missed out on some large gains when I cashed out. Possible results oriented thinking here).
 
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