New stories from GeekWire and the New York Times reveal that your 401(k) mutual fund may include investments in tech companies like Uber, Pinterest, and Airbnb.
I think the answer is: pay what I can on April 15, pay 20 percent over the rest of the year, and keep my eyes open for places to catch up, because I’ll need to catch up at some point.
“As soon as I heard that there were jobs there, I said “sign me up!” Then it took me five years to get in.”
I’m not the only person who uses Google as a way of imagining and experimenting with financial aspirations. Pacific Standard recently reported on a new study suggesting that the less financially secure we feel, the more time we spend online looking at luxury items.
Every month, I need to put 20 percent of my income towards taxes, 20 percent towards debt, and 10 percent towards savings.
Let’s say someone offered you the following deal: work for me, doing hard physical labor on the overnight shift, and I’ll pay your tuition so you can go to school during the day.
Would you take the deal? If you did, you might have a life like the one The Atlantic describes:
One day last week, for instance, [Alexis McLin] attended a lab from 3 p.m. to 6:45, went to dinner with her mother, and then at midnight went in to work at UPS, where she sorts packages from midnight to 4:30 a.m.
McLin, 21, is training to be a teacher, and so after she got off work and had some breakfast, she drove to an elementary school at 7:40 a.m and observed classes for four hours. That afternoon she attended a parent-teacher conference, capping off more than 24 hours straight of work and school with no sleep.
College students are known for pulling occasional all-nighters, but the Metropolitan College program requires consistent, regular overnight shift work, under the assumption that students will be as productive sorting packages at 4 a.m. as they will be completing their chemistry homework at 4 p.m. (Metropolitan College is not actually a college; it’s a program that helps students get free tuition at various Kentucky schools while working for UPS. While enrolled, the city pays half of their tuition and UPS pays the other half.)
For some students, this schedule works and allows them to complete a college education. For others, as The Atlantic notes, the time crunch is unsustainable:
[Ilya Lyalin] had to quit the UPS job after he decided to study engineering. The classes and homework required to study calculus and physics required Lyalin’s full brain power, and he found it was all but impossible to have the capacity to do the course work on no sleep. He did it for one semester, and it was hell. He’d work until five a.m. and then sleep until calculus class at 9 a.m., and be up for the rest of the day studying and working. The worst was every Tuesday when there would be a calculus test at 8 a.m. His GPA began to tumble.
“It was two hours of sleep every night for the whole semester,” he said. “It was the hardest thing I’ve ever had to do.”
Now, just to be clear, I think taxes are great. I’m happy to pay my share. But sometimes you can get a number like that and think “wow, that means I’m going to have to spend the entire year staying in the same place.”
“Having a high tax bill is always good news for me, because it means I had high income.”
You can do a lot more with $100,000 in cash and some debt than you can with no cash and no debt.