This isn't a post about rumors or Optum info, it's a post for folks that are hit by RIFs and are tight on funds. Being RIF'd is traumatic for many and in the storm one's focus could be clouded. If your money is tight and you contribute to the 401k you may want to consider immediately dropping your contribution to 0% or 1%, This will ensure your last paycheck is higher by slightly less than the amount you contribute (your tax burden will increase slightly), and even more importantly your severance check will not have whatever percentage deducted from it. Just a friendly tip for the folks get caught in the "axe the onshore web" to increase the take home.
6 replies (most recent on top)
@a6 getting an extra 3.5% when you won’t have grocery money in a few weeks is one of the most id--tic suggestions I have seen here. Grow up.
I was RIF'd last month. 401k was taken out of my last paycheck but was not taken from my severance check.
@a6 this wasn't financial advice for long-term investing. It has to do with the fact that if you suddenly are going to not have a paycheck it's a way to at least ensure your final one will have the most in it. Read the damn post and you get it
@a6 okay boomer you do you.
Always where I come for financial advice
I'd leave it the way it is so I get the 3.5% employer match on my 401k. Long term thinking, not short term. Thats how you get ahead in life. Sadly many people clearly don't have this type of fortitude. Which is why things are the way they are everywhere you look.