We all know cuts are coming, don’t wait to be surprised. Build up your savings, put more into retirement if you can, and quietly explore new roles. Landing something new can take longer than you expect, especially with the current job market, and remote options are drying up fast. Having a backup plan now is far better than scrambling later.
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You will say the same thing in 5 more years. Noone believes you and others are leaving Intel because you have no prospects outside Intel. You know it
It's already too late.
You should of left more than 10 years ago.
Quit crying about it and get out and get on with your life somewhere else.
It is too late 5 years ago. Why not late now?
@ay it's not exactly 20 percent. You pay the federal and state taxes and then, when you file your taxes at the end of the year you pay a 10 percent early withdrawal penalty. Ends up being more than 20 percent generally and it's not all up front. Get it right, those are important details.
@ay rule of 55
OP, if you are worried about having enough money set aside to live off of while looking for your next job then putting extra money into retirement right now probably isn't a great idea if you are under 59 1/2. Put the money in savings or investments outside of a retirement account and just pay the taxes. If you put it into a 401K or IRA and need the money before you turn 59 1/2 then you will pay a 20% penalty for early withdrawal. Saving is a good idea but how you save is just as important.
Everyone has been looking but no one can find em. This is full of backstabbers and underachievers but have been here for too long surviving layoffs after layoffs