LastoftheGreatOnes
LastoftheGreatOnes OP t1_jebdlea wrote
Reply to comment by Ragnarotico in I was laid off - what to do with severance, 401k, etc? by LastoftheGreatOnes
Why would my severence of 40k be taxes at 50%? This is higher than a bonus would be of that amount.
Everything I read is this is simply taxable at the rate my paycheck would have been
LastoftheGreatOnes OP t1_jeaw1sm wrote
Reply to comment by polach11 in I was laid off - what to do with severance, 401k, etc? by LastoftheGreatOnes
The home loans were 100% necessary to keep my home insured. Also, 'bit' was just a word I used. That amount of credit card debt was due to some unfortunate uncovered medical requirements and not indicative of normal spending habits.
LastoftheGreatOnes OP t1_jea72lc wrote
Reply to comment by tharesabeveragehere in I was laid off - what to do with severance, 401k, etc? by LastoftheGreatOnes
Any input into what to do with 401k? Transfer to a personal IRA?
LastoftheGreatOnes OP t1_jebe9v8 wrote
Reply to comment by Ragnarotico in I was laid off - what to do with severance, 401k, etc? by LastoftheGreatOnes
Yeah, my estimate is assuming that but I was trying to be conservative. I have it around - 20k wages, 12k from RSUs, 7k that is netted up to cover tax comes out to around 40k.