At what salary is it not worth it to work?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP I have not touched any of my assets entire time unemployed. And no I was not offered a job. I get these crazy offers from Indian body shops that are usually scams at $40 an hour.

Getting in unemployment and cobra was a headache.

My kids do work. But that is to cover their expenses at school. I pay their tuition and room and board. I can’t sell cars. My daughters use two of them summer jobs and third is wife’s car.

I can’t touch 401k as not 59.5 yet and it is taxable income.

I am not keeping up with Jones’s I don’t even know my neighbors and don’t work. I don’t even see anyone.

My wife is finding it embarrassing I am home. But me doing BS low pay contracting in WFH not much better.

Sell the cars and buy your daughters bikes.

I'm the pp who said to buy your daughters bikes.

You don't even have to do that. They are adults. They can figure out how to get to their summer jobs on their own. Maybe they will need to only apply to places they can easily walk to or get to via public transportation. Maybe your wife can use her car to drive them to work and pick them back up.

I have two college kids too. They had jobs over the summer. My husband and I had to drop them off and pick them back up sometimes. Other times, if we didn't need to go anywhere, we let them drive our car and we were stuck at home without a car.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP I have not touched any of my assets entire time unemployed. And no I was not offered a job. I get these crazy offers from Indian body shops that are usually scams at $40 an hour.

Getting in unemployment and cobra was a headache.

My kids do work. But that is to cover their expenses at school. I pay their tuition and room and board. I can’t sell cars. My daughters use two of them summer jobs and third is wife’s car.

I can’t touch 401k as not 59.5 yet and it is taxable income.

I am not keeping up with Jones’s I don’t even know my neighbors and don’t work. I don’t even see anyone.

My wife is finding it embarrassing I am home. But me doing BS low pay contracting in WFH not much better.

Wife won't get a job to help out?

If the wife is not working, why can she not handle home repairs, paying bills, investing, and "negotiating" with colleges? She's embarrassed you're home but isn't working herself? Y'all have bigger problems than being financially overextended.

There are lots of solutions here, even if they aren't what you want to do. Either live in the rental or sell it. If you think current mortgage is "only" 530K and you can pay that off in 3-5 years, you are not well-acquainted with regular people's reality. If you have plenty of equity in it, sell the larger home and downsize to your rental or something you can afford. Housing market is hot right now, notify your tenants today. You don't WANT to do that, but how much long can you afford the payments if you're going to sit on the sidelines and wait for the perfect job?

$45/hour is $93K/year. That's 65% of the way to your target $145K and better than going broke faster. Easier to get a job when you have a job, otherwise, the first question at every interview is going to be, "So, what have you been doing the past X months?"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP - right now $45 works out like this. I am getting $20 an hour unemployment. So actually $25 an hour. I am all in since live in MoCo so almost 30 percent tax bracket so like another $7 off. Plus payroll taxes. SS etc another buck off.

So making $17 an hour.

If job had medical would do it. Cobra and mortgage are my biggest expenses. If unemployment ran out would do it.

My bills are at point $17 does nothing. In fact if I wanted Obama care might also be an issue.

I need around $145k to pay the bills. Remember that is taxable. But even at $145 can’t contribute much to 401k as need the income.

I think I can land a job soon. But to be honest it may be my last one.

Why? This seems insanely high. Are you the primary breadwinner?

I have a stay at home wife and three kids, three cars and a mortgage.
Right now living off
$2,800 unemployment
$1,500 rental income
$2,000 interest income

But once unemployment runs out and cobra dies I am in trouble.

My wife wants me to land a good job, make it last 3-5 years and get rid of mortgage. I have two ok college right now but that was saved for already.

She is absolutely positively not going back to work ever if I am unemployed.

I am also screwed as can’t refinance or move with no income.

Am I crazy? I Can’t downsize as youngest four years to HS graduation and can’t sell rental as I use that income. My town rents are sky high. I could not afford to rent my own house.

Why do you feel you would have to rent something equivalent to what you have now? Just by your other extravagances, I'm going to guess it's a lot more house than you need.

You have one kid at home and two daughters away at school. You only need a 3 bedroom unit. One bedroom for you and your wife, one for your high school age child, and your daughters can share for the few months they are home.

[Anonymous]

Anonymous wrote:OP I have not touched any of my assets entire time unemployed. And no I was not offered a job. I get these crazy offers from Indian body shops that are usually scams at $40 an hour.

Getting in unemployment and cobra was a headache.

My kids do work. But that is to cover their expenses at school. I pay their tuition and room and board. I can’t sell cars. My daughters use two of them summer jobs and third is wife’s car.

I can’t touch 401k as not 59.5 yet and it is taxable income.

I am not keeping up with Jones’s I don’t even know my neighbors and don’t work. I don’t even see anyone.

My wife is finding it embarrassing I am home. But me doing BS low pay contracting in WFH not much better.

Just tell people that you are teleworking. I haven't been into the office since Feb/Mar. of last year. Been teleworking from home the entire time. Sure, the neighbors may think that I'm unemployed. But, I don't really care.

[Anonymous]

Anonymous wrote:Did you say you have been unemployed a year? Unfortunately, you need to face reality that you may not find a job comparable to what you had before anytime soon. You need to start taking these consulting gigs and that is your business for now. Also, your wife needs to lose her attitude and go to work. My son asks me why I work bc he knows what his dad makes. I work so that I can ramp up (I’m part time) if I ever need to. Also, what salary do you expect to get that will allow you to pay off a $500,000+ mortgage in a few years. You need to have a reality check discussion with your wife, think about downsizing (possibly to a less expensive town) and start taking any jobs that find your way. Your son won’t be happy but he will survive if you are honest. Good luck.

I would have liked a $350k job. Do you know of any?

[Anonymous]

OP there are massive costs with selling and buying. I plan on selling when youngest done HS at earliest. To sell now and downsize is crazy expensive. I rather wait till I retire. Go to Florida. My condo I rent has no mortgage and in a different state. I don’t want to sell as I make a lot on it. And if I sell primary at retirement and between homes could live there on a temp basis.

My three cars run perfect, low mileage but are 7-10 years old. To replace then is crazy.

One thing I learned I need to get back to work. Something with equity or pre ipo and pray stock pops. But $45 an hour nothing is popping

And my wife at best $20 an hour part time is doing nothing.

[Anonymous]

Of course you should take the 45 dollar per hour job. Take it and keep looking for something better. This is absurd. You’ve been out of work for a year. 45 per hour is better than 17 in UE. Your wife is SAHM and your kids are teens. You don’t need childcare. And you don’t need three cars.

[Anonymous]

Anonymous wrote:Did you say you have been unemployed a year? Unfortunately, you need to face reality that you may not find a job comparable to what you had before anytime soon. You need to start taking these consulting gigs and that is your business for now. Also, your wife needs to lose her attitude and go to work. My son asks me why I work bc he knows what his dad makes. I work so that I can ramp up (I’m part time) if I ever need to. Also, what salary do you expect to get that will allow you to pay off a $500,000+ mortgage in a few years. You need to have a reality check discussion with your wife, think about downsizing (possibly to a less expensive town) and start taking any jobs that find your way. Your son won’t be happy but he will survive if you are honest. Good luck.

Actually now a little over 13 months. I did have a highly paid consulting gig in middle for five months and got severance and unemployment. I was w2 on consulting gig so restarted unemployment clock and cobra clock. I have cobra now till June 30,2022 and unemployment till at least June 30, 2021. Maybe year end.

But still clock is ticking. Tick Tock

[Anonymous]

Anonymous wrote:OP there are massive costs with selling and buying. I plan on selling when youngest done HS at earliest. To sell now and downsize is crazy expensive. I rather wait till I retire. Go to Florida. My condo I rent has no mortgage and in a different state. I don’t want to sell as I make a lot on it. And if I sell primary at retirement and between homes could live there on a temp basis.

My three cars run perfect, low mileage but are 7-10 years old. To replace then is crazy.

One thing I learned I need to get back to work. Something with equity or pre ipo and pray stock pops. But $45 an hour nothing is popping

And my wife at best $20 an hour part time is doing nothing.

Well, sounds like you got it all figured out then. Just keep doing what you “rather.”

[Anonymous]

Love hearing about all these people scamming unemployment insurance

[Anonymous]

Anonymous wrote:OP there are massive costs with selling and buying. I plan on selling when youngest done HS at earliest. To sell now and downsize is crazy expensive. I rather wait till I retire. Go to Florida. My condo I rent has no mortgage and in a different state. I don’t want to sell as I make a lot on it. And if I sell primary at retirement and between homes could live there on a temp basis.

My three cars run perfect, low mileage but are 7-10 years old. To replace then is crazy.

One thing I learned I need to get back to work. Something with equity or pre ipo and pray stock pops. But $45 an hour nothing is popping

And my wife at best $20 an hour part time is doing nothing.

You don't need to replace them with cars. Replace them with a $100 bicycle.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I work from home and cant relate at all. How much time do you actually spend "managing investments" or "shopping insurance" all day?

I spend like an hour a quarter on investments (they're managed). I need a car for other things so its a fixed expense whether I work or not. Insurance is generally a once a year decision, no? I eat lunch whether I work or not......

So? I guess I'm not much help, but if you find those things so overwhelming it makes sense why you might be un/underemployed.

NP but you can save A LOT of money by keeping on top of expenses and constantly renegotiating or looking for better deals. I know smart successful people who easily spend an hour or two a day making sure they’re maximizing rewards from their credit cards. It’s an upgraded form of coupon clipping and could be saving (thereby earning) PP significant money. So don’t knock it so quickly.

any resources to learn how to do this? sites? forums?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP there are massive costs with selling and buying. I plan on selling when youngest done HS at earliest. To sell now and downsize is crazy expensive. I rather wait till I retire. Go to Florida. My condo I rent has no mortgage and in a different state. I don’t want to sell as I make a lot on it. And if I sell primary at retirement and between homes could live there on a temp basis.

My three cars run perfect, low mileage but are 7-10 years old. To replace then is crazy.

One thing I learned I need to get back to work. Something with equity or pre ipo and pray stock pops. But $45 an hour nothing is popping

And my wife at best $20 an hour part time is doing nothing.

You don't need to replace them with cars. Replace them with a $100 bicycle.

And bike ride where? One daughter is taking job to college next fall. She is moving further from campus in a cheaper apartment. Then I need the car other kids Junior and senior year as in nursing and needs to get to hospital.

The real scan is the working folks getting stimulus checks. I was ineligible. I also get zero financial aid for kids. Did FASFA for my kids this weekend and based off 2019 income. So no aid.

The real scam would be if I took a low paying job. I rather use unemployment for the intended purpose of getting a real job. Not just grab a desperation job that is low pay. My family and tax payers lose out. I think I am worth at least $100 an hour

[Anonymous]

Anonymous wrote:

Anonymous wrote:

You don't need to replace them with cars. Replace them with a $100 bicycle.

And bike ride where? One daughter is taking job to college next fall. She is moving further from campus in a cheaper apartment. Then I need the car other kids Junior and senior year as in nursing and needs to get to hospital.

Your daughters can use them to bike to campus/hospital from their apartments. As an aspiring nurse, your daughter should know the importance of physical activity.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP there are massive costs with selling and buying. I plan on selling when youngest done HS at earliest. To sell now and downsize is crazy expensive. I rather wait till I retire. Go to Florida. My condo I rent has no mortgage and in a different state. I don’t want to sell as I make a lot on it. And if I sell primary at retirement and between homes could live there on a temp basis.

My three cars run perfect, low mileage but are 7-10 years old. To replace then is crazy.

One thing I learned I need to get back to work. Something with equity or pre ipo and pray stock pops. But $45 an hour nothing is popping

And my wife at best $20 an hour part time is doing nothing.

You don't need to replace them with cars. Replace them with a $100 bicycle.

And bike ride where? One daughter is taking job to college next fall. She is moving further from campus in a cheaper apartment. Then I need the car other kids Junior and senior year as in nursing and needs to get to hospital.

The real scan is the working folks getting stimulus checks. I was ineligible. I also get zero financial aid for kids. Did FASFA for my kids this weekend and based off 2019 income. So no aid.

The real scam would be if I took a low paying job. I rather use unemployment for the intended purpose of getting a real job. Not just grab a desperation job that is low pay. My family and tax payers lose out. I think I am worth at least $100 an hour

It doesn't matter what you think you are worth. It matters what employers and clients think you are worth. And they apparently think you are worth $45/hour.

But sounds like you think you've got it all figured out, so you just keep on holding out for that perfect job, with an ever-growing gap on your resume, and your spoiled wife and kids with their hands out, embarrassed that you aren't working but not embarrassed enough to get a job.

Also, if you have a SAH wife and HS/college-aged kids, why do you need to spend hours a day chasing bargains? What the hell does your wife do all day?