Jamin, are you a max out your 401-k and max out your I.R.A.(s) guy? If so, it will all work out.
Only low income earners are eligible to contribute to IRAs.
Ya its BS. The $ cap on IRA contributions (both salary limit and contribution limit) is set too damn low. It's an arbitrary number low enough to keep the working class working forever.
Jamin, are you a max out your 401-k and max out your I.R.A.(s) guy? If so, it will all work out.
Only low income earners are eligible to contribute to IRAs.
You just screwed up. Taxes were due yesterday. Who was the idiot you up arrowed you for saying something s t u p i d? THERE ARE NO INCOME LIMITS FOR TRADITIONAL I.R.A. I don't mind being corrected if I am wrong, but make sure I made a mistake before trying to correct me. Did you do your own tax return yesterday?
I am absolutely implementing a hybrid workplace at the company I work for.
I’ve been hybrid for a while. I start the day at home and then go in late in the morning. Leave early and finish the day at home. I work one or two full days at home during the week. Always home on Fridays.
We are growing and getting more office space. I will have my own corner office with windows. Some will get dedicated offices. There will be shared offices and cubes as people alternate in the office or at home.
This hybrid situation is not pretend and will continue going forward. Companies can get real nice office spaces and add employee headcount above office capacities.
Personally think it's healthier for almost everyone to work in an office. Working from home does save a lot, but at what true cost?
Agreed. I really enjoy the hybrid model. I go to the office 3 days per week (voluntarily). My commute is only 20 minutes. I prefer working from the office and having some interaction to break up the spreadsheets and research.
2 days from home is nice though. I can go for an hour run in between meetings, usually around lunch time, and still get in a full day.
I imagine my company will downsize to a smaller space when our lease is up next year. But most of management will continue to go to the office several days per week.
Personally think it's healthier for almost everyone to work in an office. Working from home does save a lot, but at what true cost?
I’ve worked remotely for most of 20 years and it has worked ok for me. I enjoy my own company, although sometimes I get tired of myself and want to interact with others a bit or enjoy the buzz of life in a coffee shop or something. It’s not for everyone, though. You need to be self motivated and organized.
Yeah, exactly. Working from home or remotely works really well for a lot of people too. I'd say it probably doesn't suit most people long term (depending on home environment as well - a lot of people don't have suitable places to work from home unfortunately). It also depends on the country. My concern with it is you live at home, and then you start working from home as well, so people end up not leaving their home very much. However I'd imagine that actually applies less to runners who venture outside quite often and it can definitely suit some people better, as well as having massive savings (e.g. commuting).
Companies aren't going to spend billions for fancy campuses and skyscrapers if they are only 20% full like they are now.
I'm a WFOer. I like the office. I have nothing else going on in life. Some day, maybe, I'll have a window office.
But WFHers have won the popular vote. Sad.
Companies rarely own their own office space. They lease it from developers and real estate owners / investors. It's very easy for companies to lease less space. Personally, I love the hybrid model. It's the best of both worlds. Workers can choose to do what works best for their own lifestyle and needs, which can vary day by day. It's awesome. It's life changing. It's perhaps one of the best things I've seen in the working world in my lifetime. No joke.
I work for a pretty big company (insurance and finance), but not like Microsoft / Google / Amazon / Apple big...and we have done the hybrid space and I like it so far. Obviously it was put in place due to COVID and it turned out that IT for the most part work just fine remote. So I know several buildings have been vacated and condensed into the biggest buildings and the smaller ones will just get sold or leased out to someone else.
It makes it very difficult to go back to everyone work in office, which is good. Once you get accustomed to being productive at home, it is amazing. So far we still don't have to use video in meetings, although I get the feeling that the winds have changed on that.
Big difference is I am married and so have no need to be able to "meet" people. I can see if you are single, that WFH makes things much tougher on the social life.
IRS Tax Tip 2021-170, November 17, 2021 Next year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to $20,500. The agency al...
* Does Jamin qualify for stock options at Microsoft or are stock options at Microsoft only for officers of the corporation?
* Is there a discount stock purchase plan at Microsoft? Some corporations allow their full time employees to purchase company stock 90 cents on the dollar.
* On top of 401K, Traditional I.R.A. and possibly the above, Jamin may contribute as much as he wants to an investment account outside of I.R.A. Avoid mutual funds in an investment account outside of I.R.A. Mutual fund managers trade too often.
I worked from home yesterday. Today I'm in the office. Not pretend! The flexibility is great and I think most people can appreciate it. If my employer were to mandate 5 days a week in the office, a bunch of people would leave. If we switched to remote work only, a bunch of people would leave. As long as workers remain in the driver's seat (which they will, on account of all the retiring boomers), hybrid is here to stay. Maybe the wealthiest companies will stop splurging on giant, dystopic campuses, but most will maintain some kind of office space.
I worked from home yesterday. Today I'm in the office. Not pretend! The flexibility is great and I think most people can appreciate it. If my employer were to mandate 5 days a week in the office, a bunch of people would leave. If we switched to remote work only, a bunch of people would leave. As long as workers remain in the driver's seat (which they will, on account of all the retiring boomers), hybrid is here to stay. Maybe the wealthiest companies will stop splurging on giant, dystopic campuses, but most will maintain some kind of office space.
This is the optimal solution. Flexibility. Adaptability. Too bad it took covid to make this a reality, but we're here nonetheless.
Only low income earners are eligible to contribute to IRAs.
Ya its BS. The $ cap on IRA contributions (both salary limit and contribution limit) is set too damn low. It's an arbitrary number low enough to keep the working class working forever.
Neither limit keeps you from saving or investing, it just limits the tax shelter so government services can continue.
Whether all of those government services are needed and needed at that cost is a different discussion.
Commuting is a colossal waste of time among other things.
One vote for WFH here.
Commuting can suck, but, face to face connection with work colleagues and clients makes commuting well worth it
oof. Not trying to dunk here, but just deconstruct this situation a bit. You are saying that your only form of socialization is work. Maybe the problem isn't the WFH, but that your life lacks meaningful social activities outside of work/friends? If you're really friends with your coworkers, what is stopping you from hanging out after work (regardless of whether it's irl or not)?
Consider doing something outside of work. Assuming you're a runner, being involved in a club that meets up for some runs is a good one. If there's no such suitable thing in your area, volunteering in the community is another option. Lots of schools/community teams need knowledgeable volunteer coaches. Many ways to get socialization and build meaningful friendships outside of work.
Ya its BS. The $ cap on IRA contributions (both salary limit and contribution limit) is set too damn low. It's an arbitrary number low enough to keep the working class working forever.
Neither limit keeps you from saving or investing, it just limits the tax shelter so government services can continue.
Whether all of those government services are needed and needed at that cost is a different discussion.
Yes, of course - and that's the point. High income/wealthy individuals should not be able to take advantage of tax shelters intended to motivate long-term saving behavior. That's why there are contribution limits on 401Ks and both income and comtribution limits on IRAs.
Companies aren't going to spend billions for fancy campuses and skyscrapers if they are only 20% full like they are now.
I'm a WFOer. I like the office. I have nothing else going on in life. Some day, maybe, I'll have a window office.
But WFHers have won the popular vote. Sad.
As noted, few companies own the building they have their offices in.
If the commercial market crashes in a couple of years (as leases run out) then the price for sq ft drops. Supply and demand. Maybe there is a conversion to homes in some cases.
Many can have the flex to WFO or WFH, but a lot of jobs do not have that option. Work is not a monolith. Count yourself fortunate you have the option versus a lot of people who have to be at a certain place at a certain time because there is remote option.
