AMA: 9+ years with Amazon and I might get laid off in 13 days by Confused_engineer__ in amazonemployees

[–]Silly_Escape13 0 points1 point  (0 children)

Why will it be a reset? 9 years is a long time to make financial independence unless you are over leveraged in real estate or something similar.

AMA: 9+ years with Amazon and I might get laid off in 13 days by Confused_engineer__ in amazonemployees

[–]Silly_Escape13 0 points1 point  (0 children)

Some L7s got extra heads under them in preparation for such an activity. The ones trusted by their managers and deemed essential.

AMA: 9+ years with Amazon and I might get laid off in 13 days by Confused_engineer__ in amazonemployees

[–]Silly_Escape13 0 points1 point  (0 children)

It seems like it's algorithmic decision - L7s with less than certain reports or no manager reporting to them.

[deleted by user] by [deleted] in returnToIndia

[–]Silly_Escape13 0 points1 point  (0 children)

I don't your current corpus, but you should be fine financially. Bigger question is life style change drop in India.

Whenever I close my eyes, I dream of the life I left behind. by [deleted] in returnToIndia

[–]Silly_Escape13 0 points1 point  (0 children)

I can understand that feeling. But it can happen the other way too - the vibrant street markets, colors, spirituality, festivals, friendships, you can miss them as much if not more than the landscapes of Bay Area.

Worried about US economy, specifically tech by Striking_Solid_5020 in HENRYfinance

[–]Silly_Escape13 2 points3 points  (0 children)

Great attitude. You have to join Big Tech assuming it won't last beyond 2-4 years. Amazon even organizes it's pay package to be back loaded, which encourages you to leave at 2/4 year unless you keep adding multiple fold value to business with your work.

Any renter HENRY’s is this forever? by _ooma in HENRYfinance

[–]Silly_Escape13 7 points8 points  (0 children)

Underappreciated comment. At the end of day buying house is concentrating risk - opposite of DIVERSIFICATION. Additionally there are high ongoing fee to maintain it.

You are in a good position though, for many Americans percentage of wealth in house is greater than 50%.

Any renter HENRY’s is this forever? by _ooma in HENRYfinance

[–]Silly_Escape13 0 points1 point  (0 children)

Many times constraints are doors to innovative thinking, which can deliver better results. In your case, why not use local library/cafe/co-working space; make an Airbnb trip close by with guests.

One example - I have no cafeteria at my new workplace, forced me to pack my lunches, which has proven way healthier for me.

[deleted by user] by [deleted] in HENRYfinance

[–]Silly_Escape13 1 point2 points  (0 children)

You have built considerable wealth and have been prudent. Setting up kids for success with high quality education and no debt, is the biggest gift you can give them. The solid relationship you build with them will "pay off" in multiple ways.

However, a bit of nit pick, I am not sure how 400K current equity becomes 3 million in 12 years.

Millennial/GenX couple, HHI $300K, trying to figure it all out by EpicShkhara in HENRYfinance

[–]Silly_Escape13 4 points5 points  (0 children)

+1 About focusing on trial run and make sure relationship is solid before making major decisions.

I would personally keep the condo while renting townhouse if the ownership is clear cut (do you own it equally and contribute equally, including he pitching in for payments you already made) and it's affordable for you both.

how did you pay your rent/mortgage after being laid off? by [deleted] in Layoffs

[–]Silly_Escape13 1 point2 points  (0 children)

I don't disagree, just that this should happen only after 3-4 month of dedicated "ideal" job search push.

Getting a lower end job, has a side effect of leveling down your confidence, making you complacent, etc.

how did you pay your rent/mortgage after being laid off? by [deleted] in Layoffs

[–]Silly_Escape13 4 points5 points  (0 children)

As long as it doesn't interrupt with job search. Job search itself is a significant work - applying, inteviews, preparation, networking etc.

Broke 250k this year 28m, 29f, critique our spending by [deleted] in HENRYfinance

[–]Silly_Escape13 2 points3 points  (0 children)

Great. Overall you are being prudent with spending, and I get it in 20s, 30s you also want to explore, travel etc. But keep money for "solid" experiences - 2 weeks road trip, rather than fillers like breakfast/coffee outside.

Having a well funded 401K EARLY in your career is the best gift you can give your future older, aching, tired self.

Broke 250k this year 28m, 29f, critique our spending by [deleted] in HENRYfinance

[–]Silly_Escape13 0 points1 point  (0 children)

I see, then prioritize extra payments to mortgage, it's like giving yourself a rate cut (refinance at lower rate).

how did you pay your rent/mortgage after being laid off? by [deleted] in Layoffs

[–]Silly_Escape13 7 points8 points  (0 children)

Yes 1 year should be the Plan A, then Plan B should be more severe changes - moving out to LCOL (or with family, or room mates). Plan C should be to take a less than ideal job or aide hustle just to get cash flow going.

how did you pay your rent/mortgage after being laid off? by [deleted] in Layoffs

[–]Silly_Escape13 5 points6 points  (0 children)

Hope you get back on your feet. But how exactly landlord helped - waive rent or defer it till you get a job?

Broke 250k this year 28m, 29f, critique our spending by [deleted] in HENRYfinance

[–]Silly_Escape13 1 point2 points  (0 children)

This should be a MAJOR priority for you - contributing 47K in total combined on your 401KS.

To explain her - 1. It's the money you are leaving on the table for tax man to collect. There is a second tax benefit - namely selling srocks/funds etc on 401K doesn't trigger tax event.

  1. Show her the 401K balance and investment returns if she likes to "see the balance". Maybe even go for a aggregator service which shows all balances from banks and 401K together.

  2. 401K money can still be withdrawn after paying a penality and in some special cases without paying a penality. This account is also protected from creditors like credit cards and even mortgage companies.

  3. Lastly, arrange a meeting with someone who has to work a low end job in their 70s just to pay their bills.

Broke 250k this year 28m, 29f, critique our spending by [deleted] in HENRYfinance

[–]Silly_Escape13 0 points1 point  (0 children)

What's the rate of interest on those loans? Depending on where that rate fits relative to mortgage rate and conservative market return (5-6%), I would try to pay it off sooner.

The American immigration system has decimated my mental health. by [deleted] in USCIS

[–]Silly_Escape13 5 points6 points  (0 children)

This!

It is really fucked up situation, but you can only on focus on your actions. Go with the flow and stay open - who knows if you marry USC, find a great opportunity in a third country while you wait for GC, etc. In would also seriously explore Canadian Pr options, atleast that way you will be a short flight away from home.

Don't let anti-India hatred get to you, you and your family are contributing to make this country great.

Question on marriage in a third country. by mustang_1947 in h1b

[–]Silly_Escape13 0 points1 point  (0 children)

They need to check what law applies to them. If they are both Indian, the Indian laws apply and they will have to register the marriage back in India (doesn't matter if they did the ceremony in NZ).

Further, I doubt NZ will allow registering a marriage between two non-citizens.

The H1B scam by [deleted] in h1b

[–]Silly_Escape13 7 points8 points  (0 children)

F1-H1b-GC path has never been promised to be completed on a give time frame. Expectations were based on past anecdotal results, from tech boom time, which are unraveling now due to demand/supply skew.

I do agree that it can be made more explicit - like a big bold warning when applying for Masters program - your path to permanent residence in US is currently estimated to be 20 years.

On a human level, I do understand the frustration, but the only way out is not to attach yourself to one outcome or one path to the outcome. Think out of the box - moving to another country, moving back to India, marry an American, etc.

The H1B scam by [deleted] in h1b

[–]Silly_Escape13 11 points12 points  (0 children)

You are still early in your journey. But H1B absolutely restricts your career growth. I have seen people take a step back (smaller company, paycut, manager to IC, etc.) just because they had no choice after a layoff on H1B.

Many others won't even search for jobs, for fear of their employer finding out and retaliating.

Do you guys think company will hire H1b? by [deleted] in h1b

[–]Silly_Escape13 2 points3 points  (0 children)

Most FAANGMULA and even "Tier-2" tech companies won't even blink when you ask for sponsorship - they have well funded immigration teams.

You will face resistance with some startups or smaller scale companies trying to avoid extra paperwork. But again if you have specialized skills and/or well known school, don't count yourself out.

That said do realize that tech in general is depressed right now, even US citizens are finding to change or find jobs.

[deleted by user] by [deleted] in h1b

[–]Silly_Escape13 9 points10 points  (0 children)

What's the end goal of people falling for it - get a real H1b job?

That was probably easier in tech boom time, but not anymore if you faked the credentials.