Shut down could not have come at worst time withdraw. Some tap

[Anonymous]

Anonymous wrote:I can't believe how many of you idiots live paycheck to paycheck on HHI over 100k

I know, right? Practically everyone in the US lives paycheck to paycheck but those with federal jobs should do better, since the job is so precarious.

[Anonymous]

home equity? or isn't this an option? We have a line of credit just waiting for situations like this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:why dont you work??? Uber, taskrabbit, dogwalker, handiman etc.

Secondary job has to be approved by full time job. The people that do that approval... you guessed it are furloughed.

break the rules and work anyway. how are they going to find out?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:why dont you work??? Uber, taskrabbit, dogwalker, handiman etc.

Secondary job has to be approved by full time job. The people that do that approval... you guessed it are furloughed.

break the rules and work anyway. how are they going to find out?

Because they will get caught and will lose their jobs for ethics violations, most likely destroying their career in the process?

[Anonymous]

3 months expenses is a minimum for everyone, but OP's horse is out of the barn.

OP, do the TSP loan, pay off the debt, pay your expenses until the paychecks start again.

Save an efund of 1 month expenses and work on a full budget so you know where every dollar is assigned, and are saving out each month toward big expenses (like house/car maintenance, medical bills, summer camp coverage for kids, etc).

You can do this and you will be fine. How great you have the TSP to pull from! You would be in dire straits without it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:why dont you work??? Uber, taskrabbit, dogwalker, handiman etc.

Secondary job has to be approved by full time job. The people that do that approval... you guessed it are furloughed.

break the rules and work anyway. how are they going to find out?

Because they will get caught and will lose their jobs for ethics violations, most likely destroying their career in the process?

really? for working for uber? i kind of doubt it but ok.

[Anonymous]

I know, right? Practically everyone in the US lives paycheck to paycheck but those with federal jobs should do better, since the job is so precarious.

Historically federal jobs have not been precarious--federal jobs are considered so stable that the conventional wisdom from financial planners is that feds needs less than 6 months savings. Obviously that is changing.

[Anonymous]

Medical Testing for Money. Riskier the better pay out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can't believe how many of you idiots live paycheck to paycheck on HHI over 100k

I know, right? Practically everyone in the US lives paycheck to paycheck but those with federal jobs should do better, since the job is so precarious.

Yeah, even billionaires go bankrupt. And people elect them President anyway!

[Anonymous]

Blows my mind how many people buy houses when they can't even cover a single month's mortgage. And then have the nerve to look down on renters. Not going to get into people who choose to have kids they can't comfortably afford, because family love has a value above money. But panicking about not being able to pay the mortgage after missing a SINGLE paycheck? Good grief, people. I bet the Russians are having a field day over discovering how bribable a significant portion of the federal workforce is.

[Anonymous]

Anonymous wrote:

I know, right? Practically everyone in the US lives paycheck to paycheck but those with federal jobs should do better, since the job is so precarious.

Historically federal jobs have not been precarious--federal jobs are considered so stable that the conventional wisdom from financial planners is that feds needs less than 6 months savings. Obviously that is changing.

Federal jobs still are secure. We'll miss one paycheck. This shutdown isn't going to go to March. Or to February.

[Anonymous]

Most federal employees make less than 100K/yr
GS-3 or GS-4: Typically internships or student jobs ($14-$28/hr in DC area, most of these are part time jobs)
GS-5 to GS-7: Most entry-level positions (37k-59k/year in DC – and for 59k you would have to be at that grade for 18 years, maybe a few years less if you negotiated for a higher step)
GS-8 to GS-12: Mid-level positions (50k-100k/year in DC - and again, to reach 100k you would need to be in GS-12 grade for 18 years, maybe a few years less if you negotiated for a higher step)
GS-13 to GS-15: Top-level supervisory positions (96k-165k/year in DC, same on the top salary).
There are different pay scales within the federal government, but the GS pay scale is the most common one.
https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/18Tables/html/DCB.aspx

The average salary of a federal worker is $85k/year.
Roughly 40% of the work force is “ADMINISTRATIVE” with a median income of 100k (74k-113k)
Roughly 27% is “PROFESSIONAL” with a median income of 100k (79k-126k)
Roughly 16% is “TECHNICAL” with a median income of 49k (42k-58k)
Roughly 10% is BLUE COLLAR with a median income of 55k (46k-64k)

Median age of a federal employee is 48 years old. So, roughly speaking, those making 100k or more are 48 years or older. Typically, this means children are no longer in daycare, own their own home significant equity.

Those feeling the pinch are younger federal employees – so look on the lower end of the pay scale.
So a quick snapshot of one person, me. 45 years old, make $107k/year, 2 kids (one elementary, one middle). Own our home for over 5 years, and have a HELOC available. Two incomes (spouse not a federal employee), and we can literally live off one income, just no *extras* - gifts, parties, date nights, etc. For my department, I am about average age. Those older than me, most of them are either higher in the pay scale or have more step increases than me, though not all. There are quite a few GS 11-12s that are in their 50s. Those younger than me – almost all are lower on the pay scale and make quite a bit less. 5-10 years ago with kids in daycare and $5-$10k less in pay, this furlough would have impacted me more. Especially after buying a home where we used most of our savings as a down payment. So I am sympathetic to those feeling the pinch.

And daycare – you cannot stop daycare, or you “lose” your spot in the daycare. People that depend on daycare cannot lose that.

[Anonymous]

Anonymous wrote:

I know, right? Practically everyone in the US lives paycheck to paycheck but those with federal jobs should do better, since the job is so precarious.

Historically federal jobs have not been precarious--federal jobs are considered so stable that the conventional wisdom from financial planners is that feds needs less than 6 months savings. Obviously that is changing.

Why is that changing? It is exceptionally unlikely that this shutdown will go anywhere near six months, so I Fed with that cushion would be more than fine. And it is no easier to get fired from a Fed job than it has been in the past.

[Anonymous]

Anonymous wrote:Most federal employees make less than 100K/yr
GS-3 or GS-4: Typically internships or student jobs ($14-$28/hr in DC area, most of these are part time jobs)
GS-5 to GS-7: Most entry-level positions (37k-59k/year in DC – and for 59k you would have to be at that grade for 18 years, maybe a few years less if you negotiated for a higher step)
GS-8 to GS-12: Mid-level positions (50k-100k/year in DC - and again, to reach 100k you would need to be in GS-12 grade for 18 years, maybe a few years less if you negotiated for a higher step)
GS-13 to GS-15: Top-level supervisory positions (96k-165k/year in DC, same on the top salary).
There are different pay scales within the federal government, but the GS pay scale is the most common one.
https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/18Tables/html/DCB.aspx

The average salary of a federal worker is $85k/year.
Roughly 40% of the work force is “ADMINISTRATIVE” with a median income of 100k (74k-113k)
Roughly 27% is “PROFESSIONAL” with a median income of 100k (79k-126k)
Roughly 16% is “TECHNICAL” with a median income of 49k (42k-58k)
Roughly 10% is BLUE COLLAR with a median income of 55k (46k-64k)

Median age of a federal employee is 48 years old. So, roughly speaking, those making 100k or more are 48 years or older. Typically, this means children are no longer in daycare, own their own home significant equity.

Those feeling the pinch are younger federal employees – so look on the lower end of the pay scale.
So a quick snapshot of one person, me. 45 years old, make $107k/year, 2 kids (one elementary, one middle). Own our home for over 5 years, and have a HELOC available. Two incomes (spouse not a federal employee), and we can literally live off one income, just no *extras* - gifts, parties, date nights, etc. For my department, I am about average age. Those older than me, most of them are either higher in the pay scale or have more step increases than me, though not all. There are quite a few GS 11-12s that are in their 50s. Those younger than me – almost all are lower on the pay scale and make quite a bit less. 5-10 years ago with kids in daycare and $5-$10k less in pay, this furlough would have impacted me more. Especially after buying a home where we used most of our savings as a down payment. So I am sympathetic to those feeling the pinch.

And daycare – you cannot stop daycare, or you “lose” your spot in the daycare. People that depend on daycare cannot lose that.

+1 We'd happily drop our childcare arrangements while my spouse is furloughed, but it doesn't work that way. There are waiting lists and our spot would be gone before the Government even reopens.

[Anonymous]

Anonymous wrote:Medical Testing for Money. Riskier the better pay out.

there is a lot of very bad advice given on this thread.