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When will be the retention bonus will be paid if a candidate joined TCS in the middle of the financial year. I.e September'22... Will that be paid on next year's September'23 Month only after completing an year in TCS?
And will the Retention bonus will also be considered as taxable income of the the current year taxes(2022-23)?
Looking for valuable suggestions!!!
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McKinsey & Company I received an offer from McKinsey & Company in 2021 and I’ll be starting later this year after graduation. Obviously because of the pandemic, inflation is slowly trending upwards. Has anyone asked for a base salary increase before even starting the job? Any advice on how to approach this?
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I’d buy a place, in my own name. If you really like this person they can stay rent-free.
Freeland 1 and D1, if you a really treating those properties as investments, you aren't quoting the full cost. Homes are very liquid with high transaction costs that never seem to make it in these calculations.
When you bought the place, you likely had to pay some costs to take out the loan, potentially several thousand. And depending on the state it can cost 10% (of the now higher value) to sell a house. That is before considering an repairs to maintenance.
Owning is a good discipline. You are forced to save some share of the your monthly housing payment, which goes to principle. But the vast majority just goes out the door to the bank, taxes, and insurance which have no more long term value than rent.
The last 20 years have been unusual in that in many markets real estate has appreciated quickly some year but we have been through one crash and we may go through another here. Timing real estate is no easier than timing the stock market but much more risky because you are highly leveraged. Prior to the last 20 years, in most markets real estate was a poor investment. It lagged stocks and bonds in it's returns (if you don't consider that you can leverage your investment in real estate and most people don't in the stock market).
Honestly as little as possible with still being comfortable. You have a great opportunity to save a lot.
No more than 30% of your net income, preferably less, assuming you have no other debt. If you have other debt, adjust accordingly.
We make about that much in nyc (combined) and pay $4k for rent (luxury building, amenities, etc). Still save a lot. We were paying $2600 (for a studio) till recently. I miss the extra savings!
$4k is what I spend now in LA. Would be up to $5k tops if I chose to move back to NY. I contemplated buying but not doing so yet because want to stay globally mobile
Thanks for the judgment Freelance! Do you also provide other financial advice?
How many investment properties do you own? Do you manage them yourself or have a company? Do you live in the same state? What are the tax implications?
Home ownership is not the surefire investment vehicle it once was. And investment property carries a higher risk profile than other investment options.
Thanks m4 really helpful datapoint
If I had no debt and no kids I’d be trying to go as lean as humanly possible to retire early. In hcol areas I would be shooting for sub 2k.
It's not the Boonies. You Manhattan people think everything revolves around you lol