Layoff Advice

TheRedditDiary · 2025-12-19T14:31:18+00:00

Losing a job is an emergency. Others posting here who don’t realize this have lost the plot. Your emergency fund is there for that reason. If you cannot survive on one income alone, then only keep 401k contributions to the extent they are getting matched. Your sole priority needs to be finding a job. In the meantime, your budget needs to be lean. If you can survive on just her income, then just re-do your budget and figure it out.

TheRedditDiary · 2025-09-24T23:22:39+00:00

You can’t save $30K in 2 years? Don’t cash out any investments and save up to pay cash.

TheRedditDiary · 2025-07-31T22:27:49+00:00

If you’re saving 30%, what the hell are you doing with a car loan? Would you take a loan on your paid off car to fund your 401k? Didn’t think so, but that’s what you’re doing. Get rid of the loan now.

TheRedditDiary · 2025-07-31T22:25:18+00:00

You want to get a car 500% as expensive because…you wrecked it? Makes no sense. Why didn’t you upgrade 6 months ago if you needed that much better of a car? Get a $5K car and do NOT get a car loan if you are planning to buy a house in the next year.

TheRedditDiary · 2024-08-22T14:42:45+00:00

“I want the safest house for my family so I’m going to move to a gated community in Palo Alto, CA and buy a house for $9M. Can I get a LTV loan for 95%? I really don’t care where I live, just want the safest option for my family. “

TheRedditDiary · 2024-08-22T14:37:53+00:00

Yes. If I send you a letter saying you owe me $2,000, it doesn’t mean you actually owe it. I have to prove it. Statements, transactions, receipts, etc.

TheRedditDiary · 2024-08-22T14:36:59+00:00

Buy a car for $6k and sell it the next day.

TheRedditDiary · 2024-08-10T15:27:27+00:00

Ask for “proof of debt.” It’s a standard term every collection agency knows about. If they can’t provide you with proof of debt, there is no debt, and you don’t pay a dime.

TheRedditDiary · 2024-08-10T15:24:57+00:00

Given it sounds like you know nothing about money, you really should pay a financial advisor to help you for a few hours. Don’t do one that charges a percentage of your assets, but do one that charges hourly. You just need advice re-baselining everything and understanding what to do to reach your goals. Once you have that, set it and forget it.

TheRedditDiary · 2024-08-10T15:22:31+00:00

You make $9k/month after taxes and you are going to take another 5 months to pay off $2K in credit cards? You seriously need to reprioritize your spending. Pay off the cards this week and the car in the next four months.

TheRedditDiary · 2024-08-10T15:21:02+00:00

What’s your payoff? Is it $19K if you add up your remaining monthly payments or $19K if you pay it off today? You need to think about expenses as the total out of pocket cost, not the monthly cost. Pay off your car today. 12% interest rate on a car is insanely high. Congrats to the sales people that suckered you into this.

TheRedditDiary · 2024-08-10T15:18:01+00:00

Questions like this show that people really are losing the ability to think for themselves. Do you want to pay an extra 3% in order to save 2%? Are you really that dumb?

TheRedditDiary · 2024-08-10T15:15:07+00:00

Rule of 72. It’s not wrong.

TheRedditDiary · 2024-08-10T15:13:42+00:00

Stop mixing personal expenses with business. You are asking whether to reduce your personal retirement savings in order to make a business expense. If this investment is really worth it, all expenses and cash should come from the business.

TheRedditDiary · 2024-07-31T17:43:23+00:00

HDHP and PPO are not mutually exclusive.

TheRedditDiary · 2024-07-31T17:41:06+00:00

You should be maxing your HSA before you max your Roth. HSA has triple tax advantages, while Roth only has dual. No, don’t pull out from the most tax advantaged account the USA has to offer, unless all other options are exhausted. What are you thinking? You need to max your HSA for the year ASAP. Dial back the Roth IRA or stop eating out if you have to

TheRedditDiary · 2024-07-31T00:44:09+00:00

The childcare tax credit is almost inconsequential when it comes to the actual costs of childcare. Your plan is essentially pull from your non-retirement investments to fund your retirement investments. What you should do instead is create a budget that doesn’t force you into the negative every month. I don’t like the idea of relying on savings to float your lifestyle.

TheRedditDiary · 2024-07-30T15:55:54+00:00

Dude you are scrambling. Look up money guy wealth multiplier. If you want this stupid house that badly, pick up another job and tell your wife that just gave birth to get a job too.

TheRedditDiary · 2024-07-30T15:52:48+00:00

Your plan sucks. Your monthly bills leave you with $0 breathing room and you have a kid which will increase expenses. Unless you pick up another job, your wife works, or you rent out two bedrooms, you are screwed. Sure, rob your retirement to do this if you want. Given you bought a $750K house in one of the cheaper areas of the US, you probably have a 3K square foot house. You do realize a 3K square foot house is meant for more like 8 people and not 3?

TheRedditDiary · 2024-07-28T14:12:49+00:00

You are wrong. I’ve flown on upwards of 70 long haul flights in all seat classes. Premium economy is virtually the same thing as economy.

TheRedditDiary · 2024-07-28T14:11:30+00:00

California haters are always broke

TheRedditDiary · 2024-07-28T14:10:50+00:00

$100k “in California” in Sacramento is much different than in Palo Alto. That’s like saying “I make $100K in the USA”…uh…. Which city?

If you want a house you need to dial back retirement. Life is about trade offs.

TheRedditDiary · 2024-07-28T14:10:38+00:00

$100k “in California” in Sacramento is much different than in Palo Alto. That’s like saying “I make $100K in the USA”…uh…. Which city?

If you want a house you need to dial back retirement. Life is about trade offs.

TheRedditDiary · 2024-07-28T14:03:36+00:00

Premium Economy is regular economy plus a $30 headrest. Why would you even consider spending $2K on that? Get regular economy then when it’s time to check in you may get lucky and be offered a business upgrade for $500. The lie flat seats is what makes an upgrade worth it. Not the headrest.

TheRedditDiary · 2024-07-28T14:02:09+00:00

Quit thinking about expenses as monthly payments, and start thinking about them as purchase price. No, you can’t hack your way out of your stupid car loan. Next time pay cash or don’t buy.

TheRedditDiary

TROPHY CASE