Well paid government employees who can't afford a one or two week shutdown

[Anonymous]

I feel like this shutdown is exposing those who have ample financial resources saved/invested and those who are living paycheck to paycheck. It’s really a sucky predicament.

[Anonymous]

Anonymous wrote:It's the carried interest trade game. They took out mortgages instead of paying them off promptly, they invested the money. It's not liquid.

That's the problem, they have money just not liquid.

I'm a recently retired Fed. I'm 51, which is young for retired, but for now, I'm retired and loving it.

I have some liquid money, Like many, on paper i'm a millionaire, which i realize these days isn't a big deal, but I can't touch the money until i'm 59. Hopefully, I can wait until later to start pulling from my TSP and IRAs. Lots up in the air these days...

[Anonymous]

Anonymous wrote:I'm a GS-14, my husband is a contractor, we could afford several weeks of shutdown. It would hurt (bad) but we could.

But, see, it's not about me. It's about my GS-7 secretary who went on food stamps in 1996 during the last shutdown. It's my GS-12 staff member who has two kids in college and is living pay check to paycheck to pay for those kids.

It's the thousands of hardworking Feds who are trapped in this political game between a bunch of rich, old white men (mostly).

Amen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm a GS-14, my husband is a contractor, we could afford several weeks of shutdown. It would hurt (bad) but we could.

But, see, it's not about me. It's about my GS-7 secretary who went on food stamps in 1996 during the last shutdown. It's my GS-12 staff member who has two kids in college and is living pay check to paycheck to pay for those kids.

It's the thousands of hardworking Feds who are trapped in this political game between a bunch of rich, old white men (mostly).

Amen.

Funny that you say it's rich white men. The core of the shutdown is about poor, brown people taking money from your secretary and staff member.

[Anonymous]

For those of you stating how long you could survive without a paycheck, does that include you pulling from your retirement or strictly living off your savings?

I could last until January with my savings, but would have to dip into my home equity or Thrift after that.

I'm just curious which reserves folks are speaking of?

[Anonymous]

Anonymous wrote:I feel like this shutdown is exposing those who have ample financial resources saved/invested and those who are living paycheck to paycheck. It’s really a sucky predicament.

During my first shutdown I was a gs 7 making 39k. I’d just graduated college. I had a little savings but I didn’t have anyone else to help me pay my bills. Feds also can’t get other jobs, so I was stuck.

But yeah I’m a gs14 now and have at least a 10 year emergency fund. As long as dh is working I don’t really need to work since we’ve been good savers and have a low mortgage amount.

[Anonymous]

Anonymous wrote:For those of you stating how long you could survive without a paycheck, does that include you pulling from your retirement or strictly living off your savings?

I could last until January with my savings, but would have to dip into my home equity or Thrift after that.

I'm just curious which reserves folks are speaking of?

I would get another job, even if it’s at Home Depot before taking from my retirement. When I say my savings I mean my checking account + stocks and other financial investments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For those of you stating how long you could survive without a paycheck, does that include you pulling from your retirement or strictly living off your savings?

I could last until January with my savings, but would have to dip into my home equity or Thrift after that.

I'm just curious which reserves folks are speaking of?

I would get another job, even if it’s at Home Depot before taking from my retirement. When I say my savings I mean my checking account + stocks and other financial investments.

Same. I have enough in my checking and savings accounts to get by for a few months with no other income, but if this is still going in November it's contingency planning time. That will include trying to register as a substitute and looking for a seasonal gig.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People without adequate emergency funds simply spend too much relative to their incomes. Failing to constrain spending to an appropriate level is the problem. No matter how little you make, you have to spend less than that on housing, cars, vacations, kids' activities, recreation, etc. It's not complicated, but it requires discipline. And for those who argue they have uninsured medical expenses which excuse a lack of savings, no that is no excuse - you, too, can spend less on housing, on cars, etc. You may want a shorter commute, or a nicer place to live, or a nicer car, or a vacation, but you can only afford what your income allows relative to your expenses. Failing to save for your future and for emergencies is simply a choice, not something imposed on you by a cruel world.

Feel better? Hope you or your family don't get cancer and lose your health insurance.

You don't have to lose health insurance, but it may be expensive if it's no longer partially subsidized by an employer. That means you spend money on health insurance instead of on other things. Prioritizing other expenses over health insurance is a choice. Not taking a job which offers medical insurance because you'd prefer a different job is a choice.

Bad luck will find you someday.

What most people call luck is usually the result of their choices. Take risks, like by not saving for emergencies because you'd rather spend your money now on other things, and bad consequences can sometimes follow. That's not "bad luck", but bad financial planning driven by self-indulgence instead of self-discipline.

[Anonymous]

Anonymous wrote:Well, my DH is a GS-15 and I work for a nonprofit. We cannot afford for my DH to not get paid. I don't think we live extravagantly but somehow cannot save much. Due to some unexpected expenses lately, we have only $2k in savings. We have 2 kids in elementary school. We cannot afford this at all.

Do you have student debt?
Are you paying child support or alimony?
Are you funding retirement and college?
Are you living in a house you can afford?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm a GS-14, my husband is a contractor, we could afford several weeks of shutdown. It would hurt (bad) but we could.

But, see, it's not about me. It's about my GS-7 secretary who went on food stamps in 1996 during the last shutdown. It's my GS-12 staff member who has two kids in college and is living pay check to paycheck to pay for those kids.

It's the thousands of hardworking Feds who are trapped in this political game between a bunch of rich, old white men (mostly).

Amen.

Funny that you say it's rich white men. The core of the shutdown is about poor, brown people taking money from your secretary and staff member.

I hope this is sarcasm because my god I don't think there could possibly be a more braindead take.

[Anonymous]

Well paid? I don’t think so.

[Anonymous]

A lot of feds have their money locked up in their TSP. Not a lot of liquid cash.

[Anonymous]

Anonymous wrote:For those of you stating how long you could survive without a paycheck, does that include you pulling from your retirement or strictly living off your savings?

I could last until January with my savings, but would have to dip into my home equity or Thrift after that.

I'm just curious which reserves folks are speaking of?

HSA, FSA, savings, checking, HYSA, investments

[Anonymous]

I’m a fed that has been dumping money into a high yield savings account since the inauguration with the assumption that I am eventually going to be laid off. I don’t know why people aren’t more prepared, the writing is on the wall, and this probably won’t be the only shut down of this administration.