My wife and I made the poor decision and we are house rich life poor. We’ve had to dial back our 401 contributions to both of your company match. We’ve barely been getting buy - if that. Our childcare costs just went up, does it make sense to dial back the 401k contributions (stop completely) temporarily - until our pay goes up/rates go down, or go in to our emergency fund?

like
Posting as :
works at
You are currently posting as works at

Can you move to a lower cost housing scenario? Solving the root cause probably will make the biggest impact and it sounds like you know that's the source of your budget pressure

like

Missing the match is really tough, given the huge guaranteed return you miss.

I would cut wherever else you can. Eating out, cars, vacation, clothes, etc, so you can get the match AND save towards an emergency.
Side hustle might work too as others mention.
Find a way to cut childcare cost (wfh, family?)

There is no guarantee rates will go down any time soon, nor that you will get raises. (One of you might even lose your job!)

You made the choice to be poor, so live like it!

like

No. Sell your house and buy one more to what you can really afford.

like

Anywhere else you can cut? Usually eating out is a big expense.

like

If those are the only 2 choices, I would stop contributing to the 401k temporarily. People say the market is down now, but I have a feeling the stock market will be up n down over the next few years. Even an HYSA for your emergency savings will likely produce more stable returns in case you need it in the short term.

like

Moving/selling isn’t an option. Besides the cost and fees of moving is essentially 20k ball park so that wouldnot help the short term scenario we’re in

like

Rent out your basement or a room.

like

Can you find a way to get your house to pay for itself a bit? Rent the garage out or a plot of land for a garden or airb2b or something like that?

like

Can I ask, what % of your monthly gross income is your PITI?

like

Related Posts

How many times a day do you take your dog on a walk? And dog parks, how many times a week?

like

What does the technical assessment at Wynshop go over?

like

Hello everyone! This is my first time posting since joining this platform. I’m interested in connecting with someone who is open to HR mentoring. I’ve been in HR now for about six years and have never had a mentor. I’ve been relying mostly on SHRM and other people in the company for feedback. Even if it’s for feedback, I would really appreciate it. Thank you!

like

Why do leaders keep comparing how “good”the new staff/seniors have it because they make more money starting out then they did and working 55 hours is better than the 70-80 hours they used to work? Instead they should compare what options they have available to them and what their goals are.

like

𝐃𝐚𝐭𝐚 𝐈𝐧𝐬𝐩𝐞𝐜𝐭𝐨𝐫 - 𝐓𝐡𝐞 𝐒𝐄16 𝐟𝐨𝐫 𝐒𝐀𝐏 𝐒𝐮𝐜𝐜𝐞𝐬𝐬𝐅𝐚𝐜𝐭𝐨𝐫𝐬!!

A data inspector tool for professional user to check raw data. Perhaps, it's a one-stop destination to report various entity tables which were earlier accessed from different tools in Employee Central, allows you to view/ download the raw data in a tabular from the instance.

Use Case:
* display the list of frequencies available in the system - Entity: FO_FREQUENCY

Post Photo

Anyone willing to offer referral for lateral hire consulting opportunities at MBB. Is it possible to share the profile internally with someone at Partner level for consideration.
12+ yrs experience in strategy, transformation, change, process improvement, cost optimization & analytics. Helped F500 clients on Future of Work & workforce transformation cases in pandemic.

like

Hello everyone,

I’m new to the group and Im looking to start the IVF process. I have a few questions if you all can assit w/ info. & experience, where the best place to start?

Thanks

like

Will there be layoffs at grip/dentsu? just saw that they’re folding the Grip agency brand 👀

like

Hi everyone

I attended interview at amazon for l5 application engineer role ,they told i will be hiring for l4 as my performance was not upto mark one more interview round to go,what will be the salary range for L4 and L5 for an application engineer at amazon could anyone please tell me ?

like
like

Starting to realize that the workload in Public Accounting isn’t bad, it’s fitting it in after 8 hours of back to back meetings that’s the tricky part.

likefunny

Who said they want to mute Trump on Zoom before? LOL

Post Photo
likefunny

Looking for a referral to a consulting firm lmk!

likehelpful

according to the all-hands webcast yesterday, I thought I overheard someone say that raises will be significant this year? I know we’ll find out at the end of the month but does anyone have anymore details?

like
like

From podcast to a LIVE to how can I connect it all across multiple platforms? A reel is 1min. 1 reel a wk for 4 weeks is 4mins. 1 video a month on YouTube. 🤔

like

Can someone inform me of the average salary for a Workday HCM Recruiting Functional Consultant - Sr. Associate @pwc

like

What should a cloud senior consultant with 1.5-2 YOE make at EY/Accenture?

like

How long it takes for background verification check in RSM US LLP?

like

Does anyone know how to become an independent contractor?

like

Additional Posts in Personal Finance Bowl

I racked up about $20k in credit card debt due to a confluence of things happening at once (move, school expenses , etc ). I have a fair amount of paper assets but not a much free cash. Assets are down a decent amount with the current market cycle and I’d prefer not to sell them to cover the debt , although they easily could. Any suggestions how to handle the credit card debt without racking up tons of ongoing card interest?

like

Newly minted consultant here looking for financial advice.

So I just moved to consulting after B school, and It's more money than I've made my entire life. After paying for rent and living expenses, I have 6000$ left over every month. My student loan payments are about 1200/month at 7% interest. I still owe another 95K on my loan. I have the option to pay more every month and reduce my overall interest paid.
Currently I put about 3000 towards my loan and 3000 towards my savings. Cont'd...

like

Currently maxing out my 401k and HSA and investing about 1k/mo in ETFs. Also recently started buying I-bonds given inflation. What are other things I should be thinking about?

like

Anyone here have any information on where to invest your money apart from the firm's 401k match? New to investing and wanted to know where do other people invest since most of them wouldn't be investing in stocks directly.

like

Best ETF to invest in? I’m 24 looking to invest about $50k and don’t know where to put it. Nothing that’s super high cost or risky please

like

What are your thoughts on buying a house now and refinancing later? (Hopefully when interest rates are lower)

like

Has anyone asked for a refund for payments made towards student loans during the pandemic and actually received it yet?

I recently joined a company after being self employed. I’m on hubs’s health insurance. We have no kids. It’s United healthcare. The company offers United as health insurance. What’s the best way to compare plans? I have not been in this situation before so apologies in advance if this is a dumb question.

like

Google stock to buy now or after the split?

like

Seeking feedback on GAP insurance. I had a family member who purchased a car in June or July. They were in an accident last week and it sounds like the car will be declared a total loss. Never dealt with this before, so wanted to ask if anyone has ever had an instance where the insurance didn't cover the outstanding balance of the loan and the insured then owed money? Car was $35k, $7k down, finance $28k. Gap insurance is through lender, not auto insurer.

Any good wedding ring sources aside from Blue Nile?

accountant said he needs my IRS pin to e-file. Can anyone confirm this is legit?

like

Why do 403b have such I fees? I almost want to stop contributing all together or just minimum 6% to meet the match. Possibly just rely on the pension but what if it’s underfunded when I retire?

24 yr old, 110k TC, maxing out Roth IRA and Roth 401k, no debt or large expenses. Also have ~35k sitting in a bank account. What should I do with that money?? Am I better just sitting on it for a while then watching it shrivel up in my brokerage account?

like

My dad stole my identity a couple
years back and tanked my credit score
- brought it down to like 400. I've
been working towards fixing it so that
my boyfriend and I can buy a house in
the next year or so. This morning, I
checked my score after not looking at
it for a while and I'm in the mid 600s!
Y'all don't know how happy I am
about this lol

uplifting

Need advice. Have some credit card debt that I’ve been working to pay off. Have made progress but want to lower it quickly. We have dual income, with a house (~$300k in equity), 1 kid and 1 on the way. I’ve looked into debt consolidation via HELOC but also have ~$80k in vested equity in my company that I haven’t touched. Get equity refreshes every year. Would it be smarter to cash out $15k-$20k of that to pay debt vs. a HELOC at ~5% given that will still require mthly payments

like

What's the best 529plan? Heard Vanguard Nevada plan is popular due to low fee, or NY state one gives tax benefits upto $10k (but not sure if it matters for NJ residents working in NYC). What's the criteria for deciding 529?

like

What’s up with people talking about withdrawing from retirement due to CARES Act and investing elsewhere?

like

I have a LOT of credit card debt. It has just grown over time and I can’t find my way out. I’m considering debt consolidation, specifically a company called National Debt Relief which seems legit but I’m just so hesitant because I’m scared to make my situation worse. Or a personal loan to pay off all the CC debt and then have a smaller all in one payment. I’m intelligent and I work in finance, it’s so embarrassing. HELP.

like

Keen to buy first home in Dubai but skeptical given the uncertainty around the global economy albeit high oil prices which is a positive for the region. What are people thinking? Anyone here from middle east?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal