Future Anxiety - How’m I doing?

[megz088]

@jesusreigns4ever Ahhh ok I think I have a better sense of who you work for, and I have a fairly robust understanding of corporate compensation structures. Make sure you’re really setting yourself up for promotions when the roles open, obviously you can’t force it but make sure you’re in a place to be the undeniable next choice.

When you get to Director the compensation model really shifts a ton. It’s likely 10-15% in additional base, but then a larger bonus target and annual stock grants. Your base goes up 15k, but your variable comp goes up more like 55-60k annually.

So that next promo is really worth like 75k a year.

Depending on the vesting schedule it takes a bit to realize the full value ever year but once you get to that level it allows you a lot more options when it comes to navigating the CA housing market.

 

[jesusreigns4ever]

@megz088 Yeah, haha not hard to guess the company.. For sure man, I think that’s a few years off though at least. I got a 6% raise that takes effect in Jan and a 10% bonus this year which, after 401k and taxes its like cut in half..

 

[megz088]

@jesusreigns4ever Congrats on the raise. Another thing to consider is in CA you can ask for your salary range and your employer legally has to provide it. If you’re fully proficient in your role but paid below midpoint you can ask for a salary adjustment to market.

Our 40’s and 50’s are our peak earnings years, if you want to retire early every dollar in earnings matters.

 

[jesusreigns4ever]

@megz088 Yes for sure. I am prob high mid for market value of my position. I also have to consider work life balance. I truly work about 10 mos a year and our busy season is april-nov. its not 5 days a week so I have time to spend real quality time w my kids. Theyre young and this time is fleeting. I also have a heart thing. Irregular heart beat, afib, take meds. I’m active and in good shape and stable but I need to monitor stress.

 

[megz088]

@jesusreigns4ever Totally get that, life is about balance!

 

[bronald]

@jesusreigns4ever Relatively to the overwhelming majority of Americans, you are doing fantasticly well.

I know relocation is not feasible right now due to personal preferences, but if shit really hit the fan, you could relo to some MCOL places and live quite well, assuming you could find work even half your current comp.

Let the mighty S&P keep working for you. In 8-10 years you will be in very good shape if you don't make an absurd purchase. I would continue to rent and reduce your fixed costs for a while. Time is still your friend.

Your post hit me a lot, as a 35 year old man who is recently married with about 250K saved living in a 1 bedroom in Miami. I don't know the specifics of your divorce, but all things considered you have landed on your feet financially and hopefully emotionally. Keep on punching man!

 

[jesusreigns4ever]

@bronald Thank you for this. Sort of sad as it is, encouragement from strangers makes me feel a little better. Divorce is brutal if you married someone who earns far less. Throw kids in the mix and wow… the lawyers get involved and you’re then both just passengers on the pain train.

And yes, I need to shelve the house idea for a while. It’ll just break me but will def keep eyes open for opportunities to move farther out when they’re older. I don’t wish to battle further w their mother or courts and lawyers and cause some custody upset. Sooo not worth it.

And yes, the market is amazing and the only reason I have any money. I did get almost $100k inheritance years back right as divorce was happening when my grandmother died but $35k of that got eaten up in legal fees and spousal support settlement. More got eaten up by moving out and furnishing a 2+2 in a manner that defies the ‘broke divorced dad’ stereotype, so that myself and children could live in a decent, comfortable situation. Used another $15k to pay-off my car so I could lose the car payment. More to get through seemingly endless Covid furlough…

 

[bronald]

@jesusreigns4ever Just curious.. as someone who makes between 150K-200K with a wife who makes about 30-40K... did you have a prenup? I just got a prenuptial agreement (well I guess a post nuptial agreement) completely. My wife and I agreed I would pay her 35K in the event of a divorce with stipulations... we are having a baby very soon and of course I'm sure I would be on the hook for child support; but that obviously is not determined in a prenuptial.

 

[jesusreigns4ever]

@bronald No we didn’t because when we got married we didn’t have much $, and she made more than I. But when the kids came it shifted to me working all the time and her being self-employed, was hard for her to keep her business going w young kids. Thats the official narrative.. never mind I paid for f/t daycare and preschool for both kids post-2 yrs old.. Whatever it was just stupid not to have one and no one should marry w/out one. Marriage is a business arrangement, bottom line and has little to do w ‘love’ IMO. I’m more in love w my current gf than I prob ever was w my ex wife. Prenup worth it’s weight in gold.

 

[bronald]

Completed**

 

[jesusreigns4ever]

reddit is so amusing, or rather, the little reddit overachievers that just downvote all kinds of random posts. Who goes around downvoting, unless it is someone spreading misinformation or something that isn't factually correct? Weirdos. Seeing some of my replies to people's comments that were downvoted, it's so bizarre. Just honest replies is all. I'm old though, so who knows. People live to be offended by next to nothing now and get themselves in a tizzy over nothing, so it is what it is.

That said I really appreciate the thoughtful replies from some of you though, really. Helps to put some things into perspective and maybe not trip out so hard. For those thinking it's an out of touch post or 'first world problem' or whatever, it reminds me of a saying my Econ teacher told us in high school. "Life is like a shit sandwich - the more bread you've got, the less shit you've gotta eat." I'm just trying to get as much bread as possible, as are most of us right? Thanks again