Home
Log in / Sign Up
    Private Messages   Advanced Search   Rules   New User Guide   FAQ   Advertise   Contact Us  
Forum -> Household Management -> Finances
Please no bashing
Previous  1  2  3  4  Next



Post new topic   Reply to topic View latest: 24h 48h 72h

amother
Maroon


 

Post Sun, Jan 06 2019, 2:14 pm
Its Friday wrote:
Hey she said no bashing please, please read her title, then MYOB


Ok then no bashing but I really want to steal my neighbour's car. Is it worth it for me?
Back to top

Mommyg8




 
 
    
 

Post Sun, Jan 06 2019, 2:29 pm
amother wrote:
Ok then no bashing but I really want to steal my neighbour's car. Is it worth it for me?


Did you read my response at all?

Well, back to you - I want to speak loshon horah (sorry, motze sheim rah) about thousands of frum Jews. Is it worth it for me?
Back to top

dankbar




 
 
    
 

Post Sun, Jan 06 2019, 2:59 pm
Why is everyone bashing OP? What it boils down to is OP is now eligible for aid....& managing....her question if she should quit her job to get a more strenuos, hard working job, just in order to drop her benefits & her higher paying job will go to cover benefits she lost + half of her income will be going to tax dollars to support others on benefits? Is there any benefits at all from taking the higher paying job? Will she be left over with more money or less money at end of day?

Why is someone else's benefits more important than her own?
Back to top

OutATowner




 
 
    
 

Post Sun, Jan 06 2019, 3:15 pm
I don't know about specific numbers. All I know is that we both worked hard to increase our income, knowing that we would lose benefits at some point. We are in that middle bracket. I think my net income ends up being less after paying for insurance and not having food stamps. But such is life. At some point I hope to be doing better.
Back to top

Notsobusy




 
 
    
 

Post Sun, Jan 06 2019, 3:20 pm
dankbar wrote:
Why is everyone bashing OP? What it boils down to is OP is now eligible for aid....& managing....her question if she should quit her job to get a more strenuos, hard working job, just in order to drop her benefits & her higher paying job will go to cover benefits she lost + half of her income will be going to tax dollars to support others on benefits? Is there any benefits at all from taking the higher paying job? Will she be left over with more money or less money at end of day?

Why is someone else's benefits more important than her own?


That's not the main question here. Op has to look to the future. If she locks herself into this lower paying job because she doesn't want to lose her benefits then she won't ever be able to get ahead. At some point you have to be willing to lose your benefits so that you have the possibility of earning MORE money one day in the future.
Back to top

causemommysaid




 
 
    
 

Post Sun, Jan 06 2019, 3:34 pm
Honestly, unless you will be earning a significant amount more then no its not worth it.

Once you have two incomes it will be worth pursuing higher earnings because you won't qualify anyway.

Medicaid and food stamps are worth thousands and based on the way you are writing it doesn't sound like the new job pays that much more or you wouldn't be trying to run the numbers.

You need income tables to get exact amounts but also keep in mind additional expenses associated with working longer hours such as child care.
Back to top

causemommysaid




 
 
    
 

Post Sun, Jan 06 2019, 3:36 pm
Notsobusy wrote:
That's not the main question here. Op has to look to the future. If she locks herself into this lower paying job because she doesn't want to lose her benefits then she won't ever be able to get ahead. At some point you have to be willing to lose your benefits so that you have the possibility of earning MORE money one day in the future.


Possibly. But she can get a higher paying job in another year or two when her husband gets a job also. She doesn't have to do it now.
Back to top

Mommyg8




 
 
    
 

Post Sun, Jan 06 2019, 3:47 pm
amother wrote:
This job would not give any money towards insurance or even sell it. I'll still be on my parent's for a while but my husband, baby and future kids iyh will need. How many kids do you have?


OP, I don't know if you are still here, but this is a biggie. If your new job will not offer insurance then forget it, it's just not worth it (unless you can still keep your Medicaid benefits). Obamacare is horrible, and there is just no other legal way to get real insurance (AFAIK). Your kids will still be eligible, but you and your husband won't. I don't think it's worth the risk.

For those that say this kind of planning is wrong- like I said many times, blame the people who make the laws, not the people (us) who get messed up by them.
Back to top

MrsDash




 
 
    
 

Post Sun, Jan 06 2019, 4:01 pm
amother wrote:
I'm looking for real advice here. As of right now I'm eligible for some government programs (medicaid, foodstamps, etc). I got offered a higher paying, much more demanding job. I know there are certain salaries that are not worthwhile in a situation where it's possible to be on programs with a lower one. I heard there is bracket that is unfortunate to be in for this reason. Does anyone know numbers? If it's helpful to know, I have a baby and my husband is learning (I support - any pennies from our parents is reprted don't worry. Smile )

Thanks!!


As someone mentioned upthread, it depends on your benefits. Better benefits alone is still worth it, even with a mediocre salary. Insurance is insane!
Back to top

amother
Black


 

Post Sun, Jan 06 2019, 4:18 pm
Op I was just in your shoes. DH was learning, parents helping a little and I was working (self-employed actually)
We knew that DH would start working eventually (he actually just got a job) and that we wouldn't be eligible forever but had to decide if I should work the extra hours just to miss the bracket or stay under the max and be eligible.

We choose to make as much as possible and max out of most programs besides healthcare. I didn't want to get stuck in the 'keeping income low so turn away jobs' mentality, I don't think it's healthy.

Yes, on the days where I was trying to find a babysitter and everyone near me was legal and only wanted DS if we were eligible for subsidized childcare, or I would pay an insane amount of money, I wondered why I worked so hard. But when I went to renew my health insurance and the lady sighed and said, you make too much, only the kids are eligible. I called DH all excited and said, guess what? We are going places. We went from an income of 56k to 80k by the way.

The truth is that you can't go from being eligible to making more than the difference overnight (unless you win the lottery or something) It's going to take a year or three, at least, to break through. The faster you go for it, the sooner you will break through (assuming your husband will be going to work soon. If you plan on only you working for the next 10 years, then it might pay to stay below the bracket for now)

We decided to have those years that are harder and don't add up now and hopefully in the next year or two, to be making enough that it's more than worth it.

ETA: I'm still on my parents health insurance but DH isn't. He signed up for a healthshare to cover his healthcare.
Back to top

amother
Cobalt


 

Post Sun, Jan 06 2019, 5:12 pm
OP, if you will come out even at the end you have to decide between staying home more with your baby or on " principle" working more just to feel like you are not on programs. Even though I don't think being on programs is the best, I find a value in being home with my kids far greater. That's assuming you come out to basically the same numbers at the end of the day....good luck!
Back to top

amother
Ecru


 

Post Sun, Jan 06 2019, 5:27 pm
Honestly, I don't put Medicaid in the same category as food stamps and vouchers. It's an insane expense that is a messed up backwards system that you can't win. I would do anything I could to stay eligible for Medicaid unless I found an amazing job with amazing insurance coverage, otherwise you're setting yourself up for a disaster. One day, if health Care is reformed in this country, it may be worth it to Max out of Medicaid, but til then, it's really not
Back to top

amother
Blue


 

Post Sun, Jan 06 2019, 5:43 pm
amother wrote:
Honestly, I don't put Medicaid in the same category as food stamps and vouchers. It's an insane expense that is a messed up backwards system that you can't win. I would do anything I could to stay eligible for Medicaid unless I found an amazing job with amazing insurance coverage, otherwise you're setting yourself up for a disaster. One day, if health Care is reformed in this country, it may be worth it to Max out of Medicaid, but til then, it's really not


This is true but...the Medicaid bracket is so low it's not manageable (for adults). For kids the bracket is much, much higher. With 3 kids in NJ I'd only be able to bring home 40k before taxes to be eligible. How can that be enough to live on when my rent and babysitting costs are more than half that monthly amount? The only alternative is to be on every program and there opens the rabbit hole from which cheating and lying become waaaay too temping for my taste and the feeling of being stuck in poverty and living on another's dime takes over. Parnassah is difficult bUT I strongly believe in working to get past the programs hump. Yes, my husband learns full tme and no we've never been supported from either parent. And I'm home with my kids in the afternoons which means I work night's which is hard but so worth it in my opinion. I thank Hashem every day for the position I'm in and constantly daven that I'll have everything I need to support my family.
Back to top

amother
Linen


 

Post Sun, Jan 06 2019, 5:49 pm
amother wrote:
OP, if you will come out even at the end you have to decide between staying home more with your baby or on " principle" working more just to feel like you are not on programs. Even though I don't think being on programs is the best, I find a value in being home with my kids far greater. That's assuming you come out to basically the same numbers at the end of the day....good luck!


This.

I would never send out a baby/toddler to the babysitter just to make some anonymous imamothers happy. There would have to be subtantial income from the job after work-related expenses-babysitting, cleaning help...-in order for me to justify it.
Back to top

amother
Natural


 

Post Sun, Jan 06 2019, 7:15 pm
Op here. Just read through the responses and see that more people are leaning the other way now.

Back to my original question which may be impossible for any of you to answer, but, if you were to guess a number that would keep me ahead of the game without programs what would it be? Is 65k too low? 75? 90? Lets say for a family of no more than 3 kids before we move out of here.
Back to top

amother
Aqua


 

Post Mon, Jan 07 2019, 6:02 am
Mommyg8 wrote:
No, it's not logical. It's your emotions talking (no idea what your background is, but this makes no sense).

I've said this before, and I'll say it again - the IRS does not tax gifts and does not count gifts as income up to a certain number (I think the threshold was just raised to 10 million, but that's just a guess). So it's not income, unless you want to report it as income (completely optional, but for many it does pay to report it).


No idea what your background is, but clearly its not in taxes, accounting, finance or law. The gift tax exclusion is $15,000 for 2019 - not $10 million. Your guess was just off by several zeros. And it is not optional to report.
Back to top

amother
Linen


 

Post Mon, Jan 07 2019, 6:07 am
amother wrote:
No idea what your background is, but clearly its not in taxes, accounting, finance or law. The gift tax exclusion is $15,000 for 2019 - not $10 million. Your guess was just off by several zeros. And it is not optional to report.


The gift giver has to report to IRS (over IRS reportable amount), never the gift receiver.
Back to top

amother
Aqua


 

Post Mon, Jan 07 2019, 6:11 am
amother wrote:
The gift giver has to report to IRS (over IRS reportable amount), never the gift receiver.


Yes - and the gift giver pays a tax on it if it doesn't fall under the exclusion.
Back to top

amother
Linen


 

Post Mon, Jan 07 2019, 6:15 am
I thought OP said she is reporting the cash gifted by her parents, so I mentioned that the gift reporting is not done by the receiver.

Also, the $15,000 gift tax exclusion 2018 is per person.
Back to top

causemommysaid




 
 
    
 

Post Mon, Jan 07 2019, 6:17 am
amother wrote:
Op here. Just read through the responses and see that more people are leaning the other way now.

Back to my original question which may be impossible for any of you to answer, but, if you were to guess a number that would keep me ahead of the game without programs what would it be? Is 65k too low? 75? 90? Lets say for a family of no more than 3 kids before we move out of here.


Imamother is the worst place to be getting advice on this topic. Really.

Go to a real live person and run the numbers. Future income is something to consider but not nearly the biggest factor that some pple here say it is. Doesn't COJO or other Jewish family services help people with this?

Once you have the dollar figure for the difference between your benefits and the income from the new job then you can make a decision. Keep in mind taxes will be pulled also so don't go based on gross.
Back to top
Page 3 of 4 Previous  1  2  3  4  Next Recent Topics




Post new topic   Reply to topic    Forum -> Household Management -> Finances