I find this so wrong and irritating. My husband's job has been outsourced and there are NO jobs where we are. We have three small kids to feed, clothe and care for. The government will take almost 1/2 of his severance pay upfront, further reducing the income we will have while he's unemployed. What's up with that? Seriously, I'm tweaked.
No, he worked for a Fortune 500 company that got hit by the recession. So, they're outsourcing his IT job to "save money" since they don't have to pay benefits, etc... Thanks, Richard. It really does suck.
The company I worked for took the same kind of dump on me 2 years ago. It's hard not to worry but I can tell you that when one door closes another usually opens up. Just don't go into panic mode, you and your husband are highly educated and WILL land back on your feet. It will be different but it could be better if you let it.
Surprisingly, I've been pretty calm about it all along, I'm just started to get a little, well uncomfortable. It's strange, Richard, because it doesn't seem like education matters anymore. I hear what you're saying, though. I do believe things will work out in the end, I really do. And, hey, we love camping, so that's always an option. Thanks for your kind words. Sorry you had to go through it as well.
I went through it 4 times in the previous 10 years so that last time really was the last time. I started my own permit consulting business. Everything I needed was in my head Luckily for me, at the time I was single and worried that I would loose all that weight I worked so hard to over-pad myself with by eating Ramen noodles every meal. Brought back college nightmares..lol 2 years later I'm earning 4x's what I was earning, got engaged (lost the weight anyway) and I never have to worry about someone else having control over my livelihood.
Has your husband thought about joining the consulting ranks with his IT experience? I've found that many employers would rather go with outside consultants for short term projects. It might be worth looking into.
I've come to suspect you're absolutely right in YOUR suspicion that "it doesn't seem like education matters any more". A few months back, my wandering mind took a looksee at some of the various "careers" I'd "enjoyed" over my pre-retirement decades--and guess what? My largest per annum incomes were earned in precise inverse ratio to the education required for the field. Specifically:
1. MLM sales (no kidding, I actually made serious money for a while with MLM--ancient history now, but I did).
Top earnings year: $552,000. Education required: Zero.
2. Truck driving.
Top earnings year: $86,000. Education required: 4-week driving school.
3. Commercial Insurance Underwriting.
Top earnings year: $30,000. Education required: 4-year college degree.
Both dramatic and disgusting, or American-dream-encouraging, I guess, depending on perspective...
hang in there ws. you'll get to the other side. it's just really hard to see it yet.
I agree about education. It's all about wits these days. And luck.
In the meantime, feel free to let loose on us! Don't let the stress bottle up. E-mail me if you want to REALLY let it fly - I don't ban people for profanity.
(that's not a dig at HP, I just mean this is a public forum)
You're so sweet, Jen. I agree, we'll make it. Hey, didn't you change your mug color? It was purple before, right??? Or is my irritation making me perceive odd color illusions?
Yes, I am a purple mug. But, it is st pat's day.
So, imagine that there is beer in the mug.
@ Richard: I'm still in my losing weight with ramen noodles phase. Maybe I'll be back on my feet by fall.
Good for you!! It's nice to hear the stories from folks who have gotten through it.
Maybe I should put my picture in photoshop, I feel so UNgreen. You are too funny.
Would you like me too? I've got it up and running, doing graphics for a hub...
Shyly says: "k" Not even Irish, but I hate me a nasty pinch. I can email the picture to you...
I just have to say...what a cool thing to do
I have to agree I do think the tax on severance is unfair.
You know, I had to apply for social securityin 2007 when I was diagnosed with advanced cancer. I qualified but they still denied me anyway. So I had to pay a lawyer 25% of what they owed me to get it. In the meantime I had to use my 401k to get medical care....they taxed me to death just about. But if they had approved my ss like they were sposed to - I would not have had to use it. Government.....is that where all the CEOs are?
Here's to things getting worked out in a hurry for you. You too Jen
Oh, my... Why on earth did they deny you? I'm glad you got a lawyer to "help", but that's a steep price to pay. I do hope your cancer is in remission today.
They had a verbage dispute of all things. According to ss - the cancer had to extend into the perivesical fat, my silly pathology report said the cancer extended beyond the bladder wall. Both mean the same thing, but ss didn't know that...took almost 18 months to get an appeal.
I did all my surgery and chemo - doing my best. Mostly homebound with bone tumors and pain, but I am above ground
Happy St Pats Day! Holly
Good on you Holly
The rule for great Butt Kickers is... Never let someone elses limitations limit your positivity.
darn, If I wasn't just bout to shut down I'd do one for you too Holly!
But I gotta be to work in about 4 hours...
Yes, Richard. He is looking into that, he's just really scared, though. Pretty much any job that suits him is contract work anyway, so I've urged him to consider going solo. He's meeting with a buddy who did just that and can maybe help him out a bit. I think if it weren't for his family, he'd be much less petrified. He's a Microsoft Exchange/Active directory guy and it really appears the trend is toward hiring short term contractors. Or, perhaps it's just the state of the economy making it appear that way. We're a bit baffled as to which.
I know what you mean about living like you did in college. It's so depressing. When my Swedish ancestors came to the US they subsisted off of potatoes for a few years. Yikes.
Jen is amazing. Looky at my new avatar. I'm all smiles now. Thanks, Jen. I love you to death. This WAS a great forum post to start after all. You are so cute...
Hey, it turned out pretty good
Sometimes they don't and you can't see til you have it uploaded.
It is a great shot to start with, peeking over the mug like that
As Richard has said... One door shuts and another one opens
Keep positive mate: Remember the hard times are just like camping
Lucky your heritage isn't Irish... best you use your swede and not spuds to sort this 'character forming' period of change.
And it never hurts to stand on a high Hill and scream into the wind.... "This is just BS!!"
You will get through this... there was a reason you started writing and learning all this! (other than making good friends)
True, Pearl. And not to toot my own horn, but my earnings have skyrocketed of late.
Off to the hills. Oh, crap... I live in the burbs. Roof of a shopping mall, maybe?
Holly, you have an amazing attitude. I hope you have a lot of support... Can't imagine going through a diagnosis like that then fighting the social security battle, as well. I hope you don't take this the wrong way, but sometimes it's good to get a little perspective on life. You know? I'm so sorry you still have a lot of pain. I admire your strength...
Life is a crap shoot...and sometimes... well you know It is what it is and yes, I have been grateful for the heads up to tend to what really matters. Many people don't have the chance to fix it.
I have great support - son, hubby and mom are near. For years I helped elderly/terminally ill folks. I am amazed how many help me because at one time I helped someone they cared about.
To me the pain is temporary as I hold to a christian belief. It gives me hope. Holly
I have been thinking about "what really matters" a lot, Holly. Fortunately, most of those important facets of my life are well and good. There are some things I need to fix, however. But, they're fixable.
I'm so glad you have the great support. The whole zen "what goes around comes around" tenet is at play, huh? Nothing makes life easier than helping, caring hands. I experienced that after the birth of my twins.
Most things are temporary, really. Thank goodness for that. Thanks for sharing part of your story here, Holly.
Interesting, Ghost. That really does seem to be a discouraging trend... Especially disheartening when I write my student loan checks. No doubt, I will still require my kids go to school, but I think I'll have somewhat of a different approach to where they go. The liberal arts degrees just aren't cutting the mustard. Thanks for you input.
The tax system is progressively higher. So it must be a large severance.
Next year when you make nothing you won't be able to go back and income average... went away a long time ago.
But think about it. It hits everyone not just those laid off.
If you make between $33 and $80K your tax rate is 25%. State Tax? $5%? Social Security Tax? 15.3% or half if your employer pitches in.
I easily pay:
5%... not for me but most states this much or higher.
45.3% of my income!
This doesn't count local taxes, taxes on services, fees for my business etc.
So yeah. It's a lot of money and it hurts. But this is the "going rate" for the middle class.
Texas, Florida, Washington, and Nevada don't do income tax... and I believe one or two more states. California I believe takes as much as 10.2% at the top!
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