Search found 103 matches

by Payoffhouse
Fri Nov 24, 2017 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

****Update**** I just want to say thank you all for your input. So DW had a meeting with boss and they have decided to work things out. Boss explained to her that he can no longer afford her salary. So DW to be switched to hourly and work about 32-36 hours a week at a 25% reduction. She will also be...
by Payoffhouse
Wed Nov 22, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Wait...she recently returned from maternity leave? Back to what I asked before about whether or not she is in a protected class. She is. She has a EEOC discrimination claim, if she wants to pursue it. As someone who knows a bit about EEO (my spouse is an EEO investigator), based on what the OP has ...
by Payoffhouse
Wed Nov 22, 2017 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

I also vote for "don't go back, no matter what." How insulting of her boss to fire her, then ask her to come back (!) at 25% reduced pay (!!). I also have to say that, from an outsider's perspective, it certainly looks suspicious that they tried to fire a new mother who has presumably just returned...
by Payoffhouse
Wed Nov 22, 2017 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

If it were me, I don't think I would ever go back. Her boss fired her and want to hire her back at less pay and less benefits. They have vicious intentions. Keep a copy of the pink slip and new offer, it might help her explain things when looking for a new job. No pink slip! He said. She said. May ...
by Payoffhouse
Wed Nov 22, 2017 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

1)Whether she takes the job back or not, her career there is over. Finding a new job is her first priority now; the existing (now) temporary job is secondary. 2)It's always easier to find a new job when you are currently working. That's an argument in favor of continuing to work there, aside from t...
by Payoffhouse
Wed Nov 22, 2017 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

The employer has really put you in a bad he said she said position. Without written communication that you’ve been fired they have basically put you in a position of “we’re cutting your pay, either accept or resign”. What I would do is request everything they’ve said in writing before you can consi...
by Payoffhouse
Wed Nov 22, 2017 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

If it were me, I don't think I would ever go back. Her boss fired her and want to hire her back at less pay and less benefits. They have vicious intentions. Keep a copy of the pink slip and new offer, it might help her explain things when looking for a new job. No pink slip! He said. She said. May ...
by Payoffhouse
Wed Nov 22, 2017 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Yikes, her place of employment sounds like a real nightmare. They deserve no professional courtesies. I'm not sure I would except a pay cut. Is everybody getting their salary reduced? No one else is getting their salary reduced. That's one reason I think they have an issue with DW salary and the of...
by Payoffhouse
Wed Nov 22, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Personally I'd take the 25% cut to work 4 days a week, maybe have every Friday off. scorcher31, Come on. The usual case is even with a pay cut and/or 4 days a week, the boss will overwork the employee up to 5 days worth of work. KlangFool I forgot to mention that they want to switch her to hourly.
by Payoffhouse
Wed Nov 22, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

1. Your wife's boss treated her very poorly. 2. It is clear from the actions of the boss that she is competent, moreso than her competition. 3. The boss is not apologetic about treating her poorly and explicitly wishes to continue to do so (come back at a reduction of pay). 4. Relations between bos...
by Payoffhouse
Wed Nov 22, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

stats99 wrote:
Wed Nov 22, 2017 8:53 am
Take the Unemployment payout now, if she accepts the 75% offer, then he fires her, the UE will most likely be less.
Even with a salary reduction, she would still get the max.
by Payoffhouse
Wed Nov 22, 2017 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

DW isn’t over 40 is she, and they’re trying to replace her with someone younger? Or a woman that’s being replaced with a man? Or a racial minority being replaced by someone white? Is this retaliation for being a whistleblower in some way? Anytime I hear about a company trying to get rid of an exper...
by Payoffhouse
Wed Nov 22, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

...she was just let go and Wednesday will be her last day....I would have to think they could easily fire her again Which is it? Was she fired (for cause) or laid off (because the business has financial difficulties)? It makes a difference when she tries to file for unemployment. Btw her and our ba...
by Payoffhouse
Tue Nov 21, 2017 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Mlm wrote:
Tue Nov 21, 2017 10:52 pm
It almost sounds like the replacement she was training quit rather than was fired. Who evaluates someone’s performance in one day. What is the replacement in internal person?
Not an internal person and replacement could hardly use a computer.
by Payoffhouse
Tue Nov 21, 2017 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Depends upon 1. Sounds like your wife's employer was laying her off, rather than firing her. Firing is usually for cause. Did the employer already give your wife any termination paperwork, or was it all verbal? This matters because if they did not give her any paperwork and it was all verbal, and t...
by Payoffhouse
Tue Nov 21, 2017 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Her boss basically told her that the office is going thru a tough time and that she can have her job back at 25% reduction in pay. The economy is booming, and unemployment is hitting new lows. If the business isn't successful now, how much more will employees have to sacrifice to support the busine...
by Payoffhouse
Tue Nov 21, 2017 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

If your wife doesn't go back to that job - Did your estimate of $600 upside down include her unemployment benefits while looking for a new job? I bet unemployment insurance benefits would cover your $600 gap. Did not estimate unemployment and yes it will cover the -$600. So I guess technically I am...
by Payoffhouse
Tue Nov 21, 2017 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

If indeed she has been laid off with paperwork stating so, she should immediately sign up for unemployment. Ignore the offer to work at 25% pay cut. Do not even respond. If the communication gets more desperate, remember that if she goes back, her days are numbered, therefore: 1) a 1 year contract ...
by Payoffhouse
Tue Nov 21, 2017 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Yes, you probably didn’t consider unemployment that you would collect. Might even be close to that 75% pay they offered. If you think she can get another job in a month I would play hardball since even if she goes back they will likely replace her ASAP. With unemployment y’all will not be in a hole...
by Payoffhouse
Tue Nov 21, 2017 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

FraggleRock wrote:
Tue Nov 21, 2017 10:12 pm
How much will she collect if she files for and receives unemployment comp?

Even Alabama pays $1000/mo. Max.
About $250 a week which will cover the - $600.
by Payoffhouse
Tue Nov 21, 2017 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Her days there may be numbered and her former salary may never be reinstated. They prefer to fire her and only offered her the reduced salary because they are stuck Take the job back for now and start looking for a new one. It is much easier to get hired when you already have a job. Just my $.02. G...
by Payoffhouse
Tue Nov 21, 2017 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Does she like her job? Does she want to return? So, let me get this straight...the boss just let your wife go, and now the boss is going to let her replacement go also? Sounds very unstable.... Maybe if wants to return, she should negotiate a reduction in hours worked per week and ask to keep the i...
by Payoffhouse
Tue Nov 21, 2017 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Emergency fun- 12 months Thinks like this are what that money is for. I would not go back that and I would file for unemployment since she was fired. I would suspect that if she is willing to work for 25% less then she could find some other job without a crazy situation pretty quickly without much ...
by Payoffhouse
Tue Nov 21, 2017 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Careful about reduced hours.... Make sure it's not dropping her below the benefits. I want to say stick to same pay as before or stay fired but sounds like you need the money...... What are the realistic changes or a new job? How long can your emergency fund last? If good then stick to it. EF would...
by Payoffhouse
Tue Nov 21, 2017 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Depends upon 1. Sounds like your wife's employer was laying her off, rather than firing her. Firing is usually for cause. Did the employer already give your wife any termination paperwork, or was it all verbal? This matters because if they did not give her any paperwork and it was all verbal, and t...
by Payoffhouse
Tue Nov 21, 2017 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

I just responded to a bunch of questions but for whatever reason it did not post.
by Payoffhouse
Tue Nov 21, 2017 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Big Dog wrote:
Tue Nov 21, 2017 9:58 pm
I'd ask for a contract, which stipulates if it happens again, they pay her a minimum of xx weeks in severance at the then going pay rate but not less than 75% of prelayoff.
Good idea, I'll bring it up with the wife.
by Payoffhouse
Tue Nov 21, 2017 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

My guess is that there may not be enough money to pay her possibly, therefore the request of the 25% pay cut?? OnTrack2020, That is not OP's wife's problem. It is not her business. If there is not enough money to get it done right, then, it is probably not important. KlangFool ^This. I’m wondering ...
by Payoffhouse
Tue Nov 21, 2017 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

scotthal wrote:
Tue Nov 21, 2017 9:42 pm
Heck - I'd say stay fired, & collect unemployment insurance whilst searching for a less stressful position (with a sane boss).
That's what I told her.
by Payoffhouse
Tue Nov 21, 2017 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Does she like her job? Does she want to return? So, let me get this straight...the boss just let your wife go, and now the boss is going to let her replacement go also? Sounds very unstable.... Maybe if wants to return, she should negotiate a reduction in hours worked per week and ask to keep the i...
by Payoffhouse
Tue Nov 21, 2017 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

Sounds to me like she has them over a barrel, so why would they think she’ll take a pay cut? Do they desperately need her or not? They might be fishing and looking to just cut her pay since suposedly the office is going thru tough times. I don't buy it since their weekly salary is less now than it ...
by Payoffhouse
Tue Nov 21, 2017 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Re: Help DW gets fired, but then next day her boss offers her job back

OP, If the boss cannot get a replacement, why would your wife take a 25% pay cut to get her job back? The boss has no option. She should at least get the same pay or higher pay. Please note that if your wife accepts the pay cut, what is there for her boss to pull the same trick next time? The boss ...
by Payoffhouse
Tue Nov 21, 2017 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Help DW gets fired, but then next day her boss offers her job back
Replies: 156
Views: 12149

Help DW gets fired, but then next day her boss offers her job back

Background info: Emergency fun- 12 months Debt- Mortgage 10 yrs at 3.19%, no other debt. My salary- With only my paycheck we will be upside down about 600/ month. We won't be able to fund Roth IRAs and pay extra principal every month. So yesterday, DW calls me at work to tell me she was just let go ...
by Payoffhouse
Sat Oct 21, 2017 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: Keeping 6 months EF, what to do with rest?
Replies: 11
Views: 909

Re: Keeping 6 months EF, what to do with rest?

Going by your screen name, I'd say throw the extra at the mortgage. :happy In my EF account ( 5 months) which I want to keep separately I am thinking 50% total stock market fund and 50% CD. What do you guys think? In my view, that looks to me like you'd be comfortable with a 3 month EF and just inv...
by Payoffhouse
Sat Oct 21, 2017 11:37 am
Forum: Investing - Help with Personal Investments
Topic: Keeping 6 months EF, what to do with rest?
Replies: 11
Views: 909

Re: Keeping 6 months EF, what to do with rest?

Yes, I want to reduce EF from 11 months to 6 months. Maybe read a bit of the wiki on getting started: https://www.bogleheads.org/wiki/Bogleheads%C2%AE_investing_start-up_kit Most of the start up tasks you have addressed but you haven't stated a desired asset allocation. Once you have that set you n...
by Payoffhouse
Fri Oct 20, 2017 8:31 pm
Forum: Investing - Help with Personal Investments
Topic: Keeping 6 months EF, what to do with rest?
Replies: 11
Views: 909

Re: Keeping 6 months EF, what to do with rest?

Hi all, Background info: 1. We have about 11 months of emergency funds. 2. Cars paid off. 3. Only debt we have is mortgage, no other deft. 4. No 401k option. 5. His and hers Roth IRA to be fully funded by end of the year. 6. We have started funding our newborn's 529. We want to invest 5 months of e...
by Payoffhouse
Fri Oct 20, 2017 8:29 pm
Forum: Investing - Help with Personal Investments
Topic: Keeping 6 months EF, what to do with rest?
Replies: 11
Views: 909

Re: Keeping 6 months EF, what to do with rest?

Just to be clear, are you dropping your emergency fund from 11 months to 6? Or are you considering this whole thing your emergency fund still but want to take on more risk with the back half? Personally, if I was considering this my emergency fund still I'd be leery of taking too much risk with it ...
by Payoffhouse
Fri Oct 20, 2017 7:06 pm
Forum: Investing - Help with Personal Investments
Topic: Keeping 6 months EF, what to do with rest?
Replies: 11
Views: 909

Keeping 6 months EF, what to do with rest?

Hi all, Background info: 1. We have about 11 months of emergency funds. 2. Cars paid off. 3. Only debt we have is mortgage, no other deft. 4. No 401k option. 5. His and hers Roth IRA to be fully funded by end of the year. 6. We have started funding our newborn's 529. 7. Asset allocation for 5 months...
by Payoffhouse
Thu Sep 21, 2017 9:50 pm
Forum: Personal Consumer Issues
Topic: Seeking advice about a contractor dispute
Replies: 5
Views: 531

Re: Seeking advice about a contractor dispute

Tough situation, but ultimately the cabinet sub should have caught the fact that manufacturer does not make "non-glazed" doors. He should have done his due diligence and have not ordered something you didn't want (specially if it's in writing). He order the glazed door without prior approval from yo...
by Payoffhouse
Tue Sep 19, 2017 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: To Refinance or not to Refinance
Replies: 17
Views: 1519

Re: To Refinance or not to Refinance

****Update*****

I spoke to the bank today and they are willing to give me a $124k loan if I pay-off both my car loans ($34k). What do you guys/ gals think?
by Payoffhouse
Sun Sep 17, 2017 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: To Refinance or not to Refinance
Replies: 17
Views: 1519

Re: To Refinance or not to Refinance

1. Waiting until 2018 is another possible option. 2. I would have an EF of about 5 months. Not including my wife's income. 3. I have about a little bit over 3 years left on the car loans. I make extra payments every month. 4. The payoffs are about $14k and $22k. 5. According to their calculation de...
by Payoffhouse
Sun Sep 17, 2017 6:42 am
Forum: Personal Finance (Not Investing)
Topic: To Refinance or not to Refinance
Replies: 17
Views: 1519

Re: To Refinance or not to Refinance

Debt to income ratio too high and they are basing my income on 2016 W2 not 2017 projected income. I think it is typical to look back to a full year's income. An individual paystub could reflect short-term overtime. If you received a considerable pay bump in 2017, then the solution may be to wait un...
by Payoffhouse
Sat Sep 16, 2017 12:58 am
Forum: Personal Finance (Not Investing)
Topic: To Refinance or not to Refinance
Replies: 17
Views: 1519

Re: To Refinance or not to Refinance

Anyone for option 2? Cons of option 2?
by Payoffhouse
Fri Sep 15, 2017 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: To Refinance or not to Refinance
Replies: 17
Views: 1519

Re: To Refinance or not to Refinance

What would you do if you were in my shoes? Was there some reason that they said that they would only lend you that much? Even if you income is modest I would think that you could qualify for a lot more than that. Debt to income ratio too high and they are basing my income on 2016 W2 not 2017 projec...
by Payoffhouse
Fri Sep 15, 2017 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: To Refinance or not to Refinance
Replies: 17
Views: 1519

To Refinance or not to Refinance

Hi, Need some help and advice. Background info: 1. House is valued at over $400K. 2. Emergency funds is sitting in savings account accruing very little interest. 3. Our jobs does not offer 401k and we are maximing our Roth IRA. I am looking to refinance my existing mortgage rate of 5.25%; however, I...
by Payoffhouse
Wed Aug 30, 2017 3:18 pm
Forum: Investing - Help with Personal Investments
Topic: Help, pay off house or invest?
Replies: 37
Views: 3628

Re: Help, pay off house or invest?

I think I would go with either the 10 year, and get the house paid off as quickly as possible with the lowest interest and closing costs, or possibly go with a 30 year and use the cash flow to start building up an investment portfolio. 10 years is a long time to have basically all of your net worth...
by Payoffhouse
Wed Aug 30, 2017 1:45 pm
Forum: Investing - Help with Personal Investments
Topic: Help, pay off house or invest?
Replies: 37
Views: 3628

Re: Help, pay off house or invest?

*****Update***** I took some of the advice that was posted. Thank you so much. Some changes since last post: -Emergency Fund: more than 12 months in checking account earning zilch. -I started his and hers 2017 Roth IRA which will be fully funded. -Still his and hers jobs does not offer 401k. - Only ...
by Payoffhouse
Mon Jul 24, 2017 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Guidance needed, at a crossroads in my current job.
Replies: 23
Views: 2977

Re: Guidance needed, at a crossroads in my current job.

**Update** So later on today, I am meeting with the Owner of the company to discuss my next project in which most likely I will not be in charge. My new project is a partnership with a national firm. This will give me an opportunity to bring up my 1 year review, salary adjustment, and bonus. I guess...
by Payoffhouse
Thu Jun 22, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 21904

Re: Siblings in disagreement over mom's house.

Update: 1. The house will be getting insurance at the latest by tomorrow. I am awaiting insurance company to contact me for payment. Btw keepers did not comment about getting insurance for the house. 2. I did some research and the house is deeded "tenants in common". 3. I spoke to a mediator for clo...
by Payoffhouse
Thu Jun 22, 2017 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 21904

Re: Siblings in disagreement over mom's house.

You have a right to your inheritance and also have the right not to be stuck with a share in your mom's house and its contents or be stuck in this conflict with your siblings. Those rights are equal to anyone else's rights in this situation. Talk to a lawyer to find out what your options are, prefe...