Search found 19 matches

by TLL24
Thu May 16, 2019 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

It sounds like it is time to put your job search into high gear. If you find a really good job that is great, but if you don't you can try to ride out all the changes. This, OP. There's great wisdom in Watty's entire post should you choose to embrace it. Quick story: Back in the late '90s or early ...
by TLL24
Thu May 16, 2019 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

Thank you all for the replies. It’s truly appreciated and was helpful for me to move from the worried stage to taking some steps to be better prepared. - review spending and cut some of the fat - reduce retirement contributions for now to save more in the emergency fund - get the emergency fund clo...
by TLL24
Wed May 15, 2019 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

Thank you all for the replies. It’s truly appreciated and was helpful for me to move from the worried stage to taking some steps to be better prepared. - review spending and cut some of the fat - reduce retirement contributions for now to save more in the emergency fund - get the emergency fund clos...
by TLL24
Wed May 15, 2019 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

The layoffs are at all levels and the severance is really bad (4 to 12 weeks). I think I would be at the 12 week end due to my tenure. I’m curious why you think paying off the car loan is important? It’s a very low interest rate and over the life of the loan interest is only costing about $2,300. F...
by TLL24
Wed May 15, 2019 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

The good news is that you seem to be a valuable worker. That is going to carry the day. You will be able to find work quickly. What do the layoffs look like? Are people getting severance? The bad is you carry consumer debt. With your income having a 19k car loan is silly. If you felt secure in your...
by TLL24
Wed May 15, 2019 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

current level of compensation (about $250K, of which $190K is mine) Our retirement savings is decent at about $300K combined and cash savings is about $50K. We have mortgage debt of $350K and auto of $19K. No other debt. I guess I don’t necessarily have any specific questions No specific questions ...
by TLL24
Wed May 15, 2019 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

You mentioned vested stock... might be a good time to reduce risk by selling employer stock and moving proceeds into a total stock market fund. Do a benefits review. Get your doctor and dental appts done. If you have only employer life insurance policies, consider obtaining your/spouse term life po...
by TLL24
Wed May 15, 2019 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

You mentioned vested stock... might be a good time to reduce risk by selling employer stock and moving proceeds into a total stock market fund. Do a benefits review. Get your doctor and dental appts done. If you have only employer life insurance policies, consider obtaining your/spouse term life po...
by TLL24
Wed May 15, 2019 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

Your debts are more than you have saved and you make a TON of money. I'd be worried about that no matter how stable my job was. I’m not following this comment. If I’m reading this correctly, anyone that buys a house or takes on any debt should have the value of the debt saved in cash already? More ...
by TLL24
Wed May 15, 2019 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

FlyAF wrote:
Wed May 15, 2019 8:15 am
Your debts are more than you have saved and you make a TON of money. I'd be worried about that no matter how stable my job was.
I’m not following this comment. If I’m reading this correctly, anyone that buys a house or takes on any debt should have the value of the debt saved in cash already?
by TLL24
Wed May 15, 2019 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

I would suggest that you tighten your belt and boost your savings. I survived several decades of major layoffs, so it is not a foregone conclusion that you will lose your position. During one of the first layoff rounds I did some interviewing including one cross country visit. I got an offer minima...
by TLL24
Wed May 15, 2019 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Re: Concerned about getting laid off

I’ve been with my company for about 12 years and for the past couple it has laid off a significant amount of people. I used to think I was safe because I frequently get good feedback, never had any negative reviews, have gotten many generous raises, and get asked to help with much more than my peer...
by TLL24
Wed May 15, 2019 7:16 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 4757

Concerned about getting laid off

I’ve been with my company for about 12 years and for the past couple it has laid off a significant amount of people. I used to think I was safe because I frequently get good feedback, never had any negative reviews, have gotten many generous raises, and get asked to help with much more than my peers...
by TLL24
Tue May 07, 2019 7:40 am
Forum: Personal Consumer Issues
Topic: Which US city would you move to?
Replies: 74
Views: 7197

Re: Which US city would you move to?

Cycle, I’m curious, where do you live now? I’m in WI now and family is here. We moved to a southern state 5 years go and then back to WI 2 years ago. We knew what we were getting into with the winter, but this last one was so bad we’re rethinking staying here long term. We’re definitely torn though...
by TLL24
Mon May 06, 2019 8:03 am
Forum: Personal Consumer Issues
Topic: Which US city would you move to?
Replies: 74
Views: 7197

Re: Which US city would you move to?

Cycle, I’m curious, where do you live now? I’m in WI now and family is here. We moved to a southern state 5 years go and then back to WI 2 years ago. We knew what we were getting into with the winter, but this last one was so bad we’re rethinking staying here long term. We’re definitely torn though,...
by TLL24
Mon May 06, 2019 7:53 am
Forum: Personal Consumer Issues
Topic: Which US city would you move to?
Replies: 74
Views: 7197

Which US city would you move to?

Hypothetical scenario: You can move to any U.S. city and your income will stay exactly the same. All the incremental costs to move (i.e. sell a current house, pack and ship belongings, temporary housing, storage, etc) are paid for and no additional cost to you. Assume that you get to keep all curren...
by TLL24
Fri Jan 05, 2018 10:53 am
Forum: Personal Investments
Topic: Validity of Cryptocurrencies
Replies: 2
Views: 642

Validity of Cryptocurrencies

By now I assume most of you have done your research and have decided to partake or not in the cryptocurrency mania going on. I've only invested small sums that I would not be afraid to lose and do not have much of a vested interest in any one cryptocurrency. In my experiences I'm finding it difficul...
by TLL24
Sun Nov 22, 2015 4:27 pm
Forum: Personal Investments
Topic: HCE and Retirement Options [Highly compensated Employee]
Replies: 8
Views: 1211

Re: HCE and Retirement Options [Highly compensated Employee]

Thank you for the responses. I'll look into a taxable account and the part about contribution source. My employer does offer both regular and Roth 401(k). I understood it as my limit applied to the sum of what I put into either, but I'm not 100% certain so that is certainly worth looking into. I hav...
by TLL24
Sun Nov 22, 2015 10:46 am
Forum: Personal Investments
Topic: HCE and Retirement Options [Highly compensated Employee]
Replies: 8
Views: 1211

HCE and Retirement Options [Highly compensated Employee]

I recently was promoted at work (hooray!), however my compensation now puts me into HCE territory which means my 401(k) contributions are now limited. Because of the type of company I work for the average employee does not contribute much to their 401(k) at all (and I do not foresee any reason that ...