161–170 of 355 posts
“ 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?
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.
Let's pretend some of these SF twitter employees have families. $4k in rent monthly, 4k in general living expenses (these are based off median figures available publicly) A bit over $96k in living costs. Assuming that $200k in total comp includes about 25% in stock (based off publicly reported comp packages for twitter employees), and a combined state/federal 35% tax rate... They have no spare money to save without a…
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.
Hoo boy, where to begin with this one. You do realize that there are people who broke into tech despite coming from extremely poor backgrounds, and use most of their take-home money to support their families, right? Or students with massive student loan debts that they are currently paying down? Or even just people from median financial backgrounds but have to support their families in a high CoL area?
Earlier quoted context omitted.
If you have money that you won't need to access for a year, I bonds currently pay close to 10%. 10K a year limit on what you can put in.
That’s not an EF or an SA.
But you do you, bitcoinmoney.
“ 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?
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 dont know of any over 2%
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.
Honestly if you’re paying a mortgage at current rates, 6 months income is an excessive amount to hold out. Assuming that’s $100k, you’re paying somewhere around $5600/year by not paying down your mortgage more aggressively. I have a lot of sympathy for someone who’s plan for savings was “if I get fired I can”: (1) use my severance money (2) sell my stock (3) get a loan against my home Only blackout periods blocked (2…
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.
Hoo boy, where to begin with this one. You do realize that there are people who broke into tech despite coming from extremely poor backgrounds, and use most of their take-home money to support their families, right? Or students with massive student loan debts that they are currently paying down? Or even just people from median financial backgrounds but have to support their families in a high CoL area?
Earlier quoted context omitted.
Equity isn’t an emergency fund.
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.
That's not how adulthood works. The world doesn't care if you learned it nor will it teach you. Besides, it doesn't take a course in finance to understand basic financial responsibility.
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.
Honestly if you’re paying a mortgage at current rates, 6 months income is an excessive amount to hold out. Assuming that’s $100k, you’re paying somewhere around $5600/year by not paying down your mortgage more aggressively. I have a lot of sympathy for someone who’s plan for savings was “if I get fired I can”: (1) use my severance money (2) sell my stock (3) get a loan against my home Only blackout periods blocked (2…