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Does anyone know if the same 401k rules apply at EY as Accenture so they will cap the contributions coming for your check say if you hit the yearly limits in August? So if you hit the 22,500 in 23 there is no way to go over for tax issues. Thinking to frontload next year contributions if market is down. EY
My weight positively correlates with my utilization.
How is everyone planning for potential layoffs?
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I’m confused. What is this “I pay, he pays.” You got married. It is “we pay”
🥁
Your household income is 235k and your combined bonus is 13k. Thats it. There is no mine and his and I pay and he pays. Are you roommates? Wtf? You split bills with your spouse?
Lol interesting comments... who splits expenses in a marriage? Sounds like a terrible idea 😅
To all the people that are being judge-y about separate expenses:
My wife likes to shop at amazon constantly. I like to buy video games in small proportion. We keep our finances separate and have shared savings/checking where we each put an agreed upon amount in monthly.
We have a happy healthy marriage. We agreed a long time ago that to avoid me being mad at her shopping habits and vice versa we would simply keep finances separate. As long as we keep saving towards our goals I don't care how many hats she buys for our dog.
Not everyone has the same approach and that's okay.
K5 Not gonna lie, I've thought about your response for the last few days. I suppose you are right. This approach works because we both make similar amounts right now.
Years ago I was married to a woman who was on disability (she passed), and in that case our money was combined. To your point, it wasn't fair that I would have a hundred percent discretion over our spending money just because I was the one who worked.
Interestingly, I am planning on dropping out of the workforce to raise our children. In that scenario we'll have to change the way we approach our discretionary income due to the fact that she will be the only one bringing it in.
Her and I simply found it easier during these first few years in marriage to keep our finances as they are before we give up our discretionary income to spend it on kids lol.
Chief
I am married. Everything goes into joint accounts. Inherited assets on both sides kept separate through pre-nup.
Inheritance is not joint property. Keep it in a separate account and do not commingle with marital funds.
Why do high-earning women marry men who are obviously below them? This is a recipe for a divorce in 3 years.
PwC1 - I am not sure that’s what AVP1 was saying. I took it as ‘beneath them in their earning potential’, I.e. not on the same level.
Your household income is $235k + $13k. You’re married now, stop splitting expenses like you’re roommates.
Chief
Thank you. When I get a raise my wife gets excited because WE got a raise and vice versa
Which firm pays $155k for SA?
P18- M1 at S& starts at $191 base
Pro
Do you keep separate accounts? This is so foreign to me! My wife and I have a single shared account. I don’t look at my money as mine - it’s ours. And I make 2.5x her salary. When we pay our mortgage, I don’t assess how much came from my income or hers. We’re married so it shouldn’t matter!
Right. It makes no sense! If you’re not ready for marriage then back off!! I understand marriage ain’t for everyone and you’ve clearly proven it lol
Chief
In the spirit of “For better or for worse”, my wife and I combine everything. We’ve been doing it this way for 20 years. Yeah, we argue about $, but this approach works for us.
My sister, OTOH, splits her money with her spouse. They each deposit an amount of money into a joint account for common bills, but they keep the rest separate. My sister didn’t like it at first, but she now believes having her own pool of money to spend as she wishes reduces arguments over money.
Do whatever works for the two of you.
KPMG 6. Don't you think that the problem was that you and your first husband had limited income and you didn't know what the other was spending on?
I am just repeating what you wrote, which means that you weren't spending on required bills, but fun or others without consulting each other on the limited budget for those.
Rising Star
I mean, in theory, you’re 50/50 partners for life, so unless you plan on getting divorced, just treat your entire income as one. This is what the prenup is for. You can get a postnuptial, if you want to define how assets should be split in the event of divorce.
Yeah I’m always baffled by couples that split expenses like this. We have joint accounts and everything flows in together and it’s all our money we share everything.
I am baffled by your bafflement.
You guys have a combined income of $230K. See it that way.
Worse than that! There is the marriage penalty! Get ready to paaaaay!! We seriously consider getting a paper divorce every year for tax purposes....
Lmk where you’re making $155k as a Senior Associate, I just want to talk
S& SA hired from undergrad at PwC makes that amount
Indian male here I pay everything 😂 still get shouted at ....
Is this some new millenial thing to keep finances separate once you get married?
Pro
C5 is spot on. After watching boomer generation dragging each other down in court, sharp millennials are protecting themselves financially.
I've seen comments like this multiple times. I am curious, after you marry, don't you pool all your money into a joint account and operate the household as a single unit as opposed to two distinct units. Expenses are paid out of the joint account. Maintaining separate accounts just seems you sre making it easy and convenient to divorce the first time you have a disagreement.
There’s o size that fits all. There are people who pool their resources that end in a d percent. They’re those who separate their resources and stay happily married.
I’d wager that this is not a factor that even significantly affects divorce
I’m married and make more than my wife - there’s no “I save this, she saves that”. We are married so it’s all ours. I think splitting out the expenses and finances is a recipe disaster.
We combined accounts and pay everything out of the combined accounts. Anything else seems like it would be both a pain to keep track of and a potential source of strife
This has worked for us for over 20 years
Rising Star
It’s super easy to track...just look at your credit card or whatever account bill every month....
Combine accounts if that’s your thing. But it seriously takes about five minutes per month to track this.
You’re married.. why are you even splitting costs like you’re roommates? lol
In my case, my money is our money and her money is her money. She contributes as she pleases and her own will. I don’t expect anything from her. Why? Because of my religion. “A woman in Islam does not shoulder any financial obligations; it is the man who shoulders this responsibility in the family. It is the duty of the father or the brother before she is married to look after her lodging, boarding, clothing, and financial aspects, and it becomes the duty of her husband or her son after she is married.” You may find it strange and that is okay with me. We have been happily married for the past 21 years.
Rising Star
I out-earn my husband by 3x and I wish he had more of this mindset, lol. It causes me much stress. He is Catholic.