151–160 of 355 posts
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Seriously. I wouldn’t be surprised if the lowest total comp was in excess of $200k/year. If you can’t have 6 months in cash sitting in a high yield savings account on that, there’s no amount of severance that will help you.
While saving 6 months might be possible, I would love for you to point me to a high-yield savings account.
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While saving 6 months might be possible, I would love for you to point me to a high-yield savings account.
You can only deposit 10k/yr but how does 9.62% sound?[0] [0] https://treasurydirect.gov/indiv/products/prod_ibonds_glance...
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Isn't and Shouldn't are different things. Also, new hires exist. Not everyone has had time to actually accumulate wealth from their compensation. Not everyone was taught financial literacy before being dumped into a high stress job. Not everyone is in good health. I think sympathy and compassion are fine ideals to hold for any of our working class cohort.
> compassion are fine ideals to hold for any of our working class cohort. “Working class” lol. Class-wise, engineers are like the junior executives in the Mad Men era, or junior lawyers and bankers today. They are not only well compensated, but have tons of impact (and therefore leverage) as individual contributors. The “working class” are the folks cleaning the building who are fungible commodities. You can be a 10x…
Anyone who relies on wage labor for their income (as opposed to earnings from capital) is working class. That is the defining feature of the working class.
Unless you could retire tomorrow and support yourself from your capital holdings alone, you're a member of the working class. (Many engineers at Twitter likely could retire tomorrow and live off their equity, but I'm guessing the majority could not.)
People love to erode class solidarity by claiming that only people whose incomes are below a certain level are working class, or that you have to "work with your hands" to be working class. Don't fall for it.
Earlier quoted context omitted.
Isn't and Shouldn't are different things. Also, new hires exist. Not everyone has had time to actually accumulate wealth from their compensation. Not everyone was taught financial literacy before being dumped into a high stress job. Not everyone is in good health. I think sympathy and compassion are fine ideals to hold for any of our working class cohort.
I think treating our fellow humans like humans is more valuable than assuming they aren't capable of basic finance. Put another way, people will behave as you treat them. Treat them like they are fools who can't do finances and they will behave that way. Expect them to do basic financial behavior and they will. We literally make financial literacy courses free, online, without any need to even sign up. They will teac…
If someone is making $200,000 a year and is financial trouble when they get laid off (with severance), well, I reserve my tears for people who never see that kind of income their entire life.
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You know what you call someone with 1.5 million worth of assets? A millionaire. They will live, even if they have to move to "flyover country".
If they have a mortgage, they don't have 1.5M in assets. They have 1.5M in debt.
Earlier quoted context omitted.
While saving 6 months might be possible, I would love for you to point me to a high-yield savings account.
You can only deposit 10k/yr but how does 9.62% sound?[0] [0] https://treasurydirect.gov/indiv/products/prod_ibonds_glance...
“ many of these folks won’t be able to sell the shares they earned. The money they need pay bills and keep them afloat if and until they get new employment. When severance ends, that’s it.” It’s Twitter’s responsibility to not only offer severance, but make sure employees keep an emergency fund?
Last time I was at a company that had blackout periods for employee trading, it didn't apply to former employees. I quit on a Friday and exercised then sold all my options the next Monday while my former coworkers were still in their blackout periods. Hopefully it is the same at Twitter.
Earlier quoted context omitted.
Seriously. I wouldn’t be surprised if the lowest total comp was in excess of $200k/year. If you can’t have 6 months in cash sitting in a high yield savings account on that, there’s no amount of severance that will help you.
I'm financially illiterate. Where can I find a good high yield savings account?
Earlier quoted context omitted.
Seriously. I wouldn’t be surprised if the lowest total comp was in excess of $200k/year. If you can’t have 6 months in cash sitting in a high yield savings account on that, there’s no amount of severance that will help you.
Please show me a "high yield savings account" that comes anywhere close to the ongoing >7% inflation.