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Roth vs Traditional 401k, thoughts?
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Hi All,
My LWD in Cognizant was on 21st Oct , I had returned the laptop on that day. But IT approval has not happened yet, and they are saying it will take 3 weeks to get approved, without this approval i can't download any of the documents after exit ... Has anyone faced this issue recently. Is there a way to escalate this?
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You should probably not spend all your money on your friends. Family is fine, but concerning when you are supporting your friends financially
Coach
You can’t improve what you don’t measure. You should do an analysis of where your money went the past year or two and see what’s happening.
That is a great point. I’m just paying paying all over the place. And any left over I got into stocks. I’ll look into that.
Step 1: move out of Ny
Step 2: see your buying power increase by almost double
I hear you! So appreciated ! Thanks a lot
The only useful advice you will get here is to track your expense first. Without that, there is no way anyone can tell you anything. For a single person, 130K is a good amount so there is obviously numbers that we need to see
Still very helpful! You are right. I appreciate
You're in the rat race and need to find a way out. Start by leaving New York, second, family is one thing but supporting a dozen friends financials is a bit too much so that needs to be cut. With the savings from this, start investing in passive-income generating options. Good luck.
Do you budget?
Not really! That’s the basic, right! I definitely should.
Welcome to America.. greatest country in the world 😂🤣😂... kidding clearly
Why do you need to support friends financially? Is there a way you can help them get a job?
Also leave NY! Im sure your job is/can be remote. If your parents arent working and you support them, take em with you! You will not only save more money, but you'll leave behind a lot of stress and cr4p!
130k is not a lot of money in NYC.
I make 140k and still feel poor. 2k in rent for studio
I use mint to track my spending. It's rought sometimes with unplanned expenses and having to accommodate requests from my home country. But you know where funds are coming from
Stay within your budget and that requires discipline and patience. Plan based on your after-tax take home pay. Your net amount is what you’re working with. Pay yourself - some of which you invest, cover your overhead. Remember you are in a high tax city and state.
You live in NY so a big chunk of your money goes to housing. In top of that, a lot of your money goes to taxes. Federal and state. You should look at your net income aka take home cash. That’s your real money. See how you can maximize your net income and minimize your tax liability. Some state like Florida or Texas don’t have state tax, so a lot of saving there.
Fist thing is to record where your money is being spent.
Do this for the last 3 months and let us know.
Wait you’re supporting your friends in addition to family? No wonder.
Also you can be pulling in wayy more than 130k at this stage of a marketing career in a place like NYC
Set up separate accounts and cards for wants vs needs and track them religiously. You'd be surprised after a while how many "wants" don't end up adding as much value to your lifestyle that you can gradually trim back on
How much on rent?
So where does the money go? Nobody can help without that info...