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Old 11-11-2011, 10:28 PM
 
24,488 posts, read 40,990,659 times
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Quote:
Originally Posted by andywire View Post
Because over here wages are falling, along with benefits and anything else possible. We are fighting the race to the bottom, and your one health condition away from loosing everything you've worked your whole live for. The question is, why stay? My boss told me a few days ago when I asked, how do people retire in Germany where everything is so expensive and taxes are high? He said companies there take care of their workers and provide nice pension plans. How many workers here get pensions? Race to the bottom here, because companies can't provide high quality products. All they do is provide everything as cheap as possible by trimming wages and benefits. Sound like the kind of companies you want to work for?
I see. That's quite offtopic from this thread...

But I suppose your advice should really say "If you can't make it here, go make it somewhere else.".
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Old 11-11-2011, 10:53 PM
 
Location: Texas
44,257 posts, read 64,067,741 times
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Quote:
Originally Posted by NJBest View Post
Why not just stay here and work?
At the time best jobs available in the oil industry were overseas in the newly liberated soviet states. Companies worldwide were sending people over there to establish relations and operations. He and a lot of his oil company friends were given early retirement stateside.

He spent the next 15 years off and on working in England and various -stan countries establishing and then running various operations there. Kept his house here, kept his kids in college, and just sucked it up.

The point is you can make excuses all day long or you can go eke out your living wherever it is.
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Old 11-11-2011, 11:15 PM
 
24,488 posts, read 40,990,659 times
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Quote:
Originally Posted by stan4 View Post
At the time best jobs available in the oil industry were overseas in the newly liberated soviet states. Companies worldwide were sending people over there to establish relations and operations. He and a lot of his oil company friends were given early retirement stateside.

He spent the next 15 years off and on working in England and various -stan countries establishing and then running various operations there. Kept his house here, kept his kids in college, and just sucked it up.

The point is you can make excuses all day long or you can go eke out your living wherever it is.
Oh, I wasn't referring to your dad, specifically. I'm just curious why someone would choose to leave if they can find suitable work here.

The OP isn't asking what to do if you cannot find a job.... the OP is asking what do you do about your bills immediately after losing your job. I feel that it is reasonable to spend some time (atleast 3 months or so ) collecting insurance and look for a job here before deciding to look offshore.
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Old 11-12-2011, 01:33 AM
 
Location: The Chatterdome in La La Land, CaliFUNia
39,031 posts, read 22,945,850 times
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Quote:
Originally Posted by sas0814 View Post
After the announcement about MF Golbal laying off their entire workforce, I started thinking what happens to these people.

It always sad when someone loses their job, but the average person can somehow survive on unemployment because they didn't have much to begin with.

What about those high paid execs and workers in those NYC firms and companies that go belly up or bankrupt suddenly.

These are the people in my town that have million dollar homes, kids in private school and all kinds of other outrageous expenses.

How do they cope losing a six figure salary, with a stay at home wife that doesn't contribute financially.

I read the MF global people aren't getting severance, 401k's, and benefits are ending after November.

It's been happening a lot in NY and other big cities, but I only see stories of the low wage workers coping, not the wealthier ones.

What do they do?
It can be traumatizing for someone who is accustomed to a high standard of living to suddenly find themselves downgrading. If the executives and other high earners are smart, they'd be doing some serious saving versus living the high life so that they would not have to struggle financially should they find themselves laid off.
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Old 11-12-2011, 04:13 AM
 
2,687 posts, read 7,383,526 times
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Question apparently...

Quote:
Originally Posted by NJBest View Post
That's only state unemployment. You're forgetting to add on private unemployment insurance. It usually covers up to 50% of your income.
I've been out of the 'unemployed' loop for way to long. What do you mean by 'private unemployment insurace' that covers up to 50% of a persons income. Never heard of such a thing. Please explain.
Koale
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Old 11-12-2011, 09:36 AM
 
Location: Ayrsley
4,713 posts, read 9,658,435 times
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Quote:
Originally Posted by sas0814 View Post
I know, but if you made say $200,000, how can you continue to live the lifestyle you have on UI?
Simple answer: you don't. You cut back and spend what you need to until you get back on your feet. Hopefully you've been saving and investing a lot prior to that point.
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Old 11-12-2011, 10:13 AM
 
24,488 posts, read 40,990,659 times
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Quote:
Originally Posted by Koale View Post
I've been out of the 'unemployed' loop for way to long. What do you mean by 'private unemployment insurace' that covers up to 50% of a persons income. Never heard of such a thing. Please explain.
Koale
I already provided links. What else would you like?

When you're working, you go to an insurance agency that offers the insurance and pay a premium. When an even arises, you collect your benefits.

I'm sort of surprised that many people here never thought to themselves "I wonder what my options are in the event I lose my job" BEFORE losing their job.
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Old 11-12-2011, 10:33 AM
 
19,045 posts, read 25,115,487 times
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Quote:
Originally Posted by NJBest View Post
Private unemployment insurance? | Bankrate.com

https://www.incomeassure.com/

You would have to be pretty careless to bet on never losing your job.

There's others... Most are typically offered through clubs or HR and not public.
This is a good idea. I'm going to check my benefits site and see if there is anything offered. Do you know if it's typically offered via co benefits? I'm signed up for pretty much everything they offer (life insurance, extended disability, even my dog has insurance), but I don't recall seeing unemployment insurance.

Although, reading this from the first link

"The coverage does have its limits. IncomeAssure covers salaries up to $250,000 for 24 weeks, and has a six-month waiting period before a claim can be made. Although the claims process is tied to state benefits, IncomeAssure doesn't keep paying if state benefits are extended beyond the initial 24-week period."

a family has to have it together. It's a very short term fix and extended benefits, which most people get these days, could actually screw a person since typical UI pays squat.

My current plan is to live below my means. That's what we do now.
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Old 11-12-2011, 10:52 AM
 
24,488 posts, read 40,990,659 times
Reputation: 12919
Quote:
Originally Posted by Braunwyn View Post
This is a good idea. I'm going to check my benefits site and see if there is anything offered. Do you know if it's typically offered via co benefits? I'm signed up for pretty much everything they offer (life insurance, extended disability, even my dog has insurance), but I don't recall seeing unemployment insurance.

Although, reading this from the first link

"The coverage does have its limits. IncomeAssure covers salaries up to $250,000 for 24 weeks, and has a six-month waiting period before a claim can be made. Although the claims process is tied to state benefits, IncomeAssure doesn't keep paying if state benefits are extended beyond the initial 24-week period."

a family has to have it together. It's a very short term fix and extended benefits, which most people get these days, could actually screw a person since typical UI pays squat.

My current plan is to live below my means. That's what we do now.
This one provider. There's multiple providers for multiple options.

Employers will offer it to their executives as part of their contract. Also, if you are part of certain clubs, they have options as well. For example, my country club has a list of insurance agencies for members only, that offer various insurances, including unemployment.
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Old 11-12-2011, 10:54 AM
 
19,045 posts, read 25,115,487 times
Reputation: 13484
Quote:
Originally Posted by NJBest View Post
This one provider. There's multiple providers for multiple options.

Employers will offer it to their executives as part of their contract. Also, if you are part of certain clubs, they have options as well. For example, my country club has a list of insurance agencies for members only, that offer various insurances, including unemployment.
Do you know, generally, what the monthly cost is for the insurance?
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