Bonus Withdrawal Puts Bankers in "Malaise"

[Loki]

This is purely from personal experience, but I don't consider budgeting bonuses into long term plans, like education, to be good planning. Its just a trap in that you are giving yourself the idea of "hey, money, lets committ to something that far exceeds said money."

Even if you disagree with that, which seems to be the case, the mentally that there are no cheaper options worthy of oneself is the main problem.

Is it bad planning when you get the same bonus every year?

Let me see you tell your kids that they have to leave all their friends and put up with an inferior quality of education without being upset over it.

[GGT]

Is it bad planning when you get the same bonus every year?

Let me see you tell your kids that they have to leave all their friends and put up with an inferior quality of education without being upset over it.

I'd agree with OG, it's bad planning. Or delusional on some level. Anyone living in NYC has known since 9/11/01 how quickly things can change. Anyone not asleep for the past five years knows the financial industry isn't immune from lay-offs, or changes in pay structure + bonus.

It's also not wise to make family decisions based on emotions like "kids leaving all their friends" in prep school. Maybe if more people in upper incomes sent their kids to public schools, and participated in making them better, it wouldn't be considered a move down on the academic ladder.

[CitizenCain]

I'd agree with OG, it's bad planning. Or delusional on some level.

Now, is this opinion of yours based on the fact that we're talking about an evil j00 here? Would you say the same thing if it was some uneducated retard ("k0mm0n man")? Or would you blame the Republikan party for costing the k0mm0n man his job, instead of assigning blame on the individual in question?

[That's all rhetorical, BTW. We all know you're just bashing some foolish j00, but would defend an uneducated, unj00ish retard in the same situation.]

Anyway, planning on having the same bonus you get every year is like planning on having your job every year. You have to include it in your planning, period. This particular guy obviously shouldn't have tried to live so far beyond his means, but planning based on his actual annual income is exactly what you should do - you're just supposed to put something away into saving so if your income drops, or you lose your job, you don't have suddenly worry about selling the cars, the home and pulling the kids out of school.

[GGT]

Now, is this opinion of yours based on the fact that we're talking about an evil j00 here? Would you say the same thing if it was some uneducated retard ("k0mm0n man")? Or would you blame the Republikan party for costing the k0mm0n man his job, instead of assigning blame on the individual in question?

[That's all rhetorical, BTW. We all know you're just bashing some foolish j00, but would defend an uneducated, unj00ish retard in the same situation.]

Anyway, planning on having the same bonus you get every year is like planning on having your job every year. You have to include it in your planning, period. This particular guy obviously shouldn't have tried to live so far beyond his means, but planning based on his actual annual income is exactly what you should do - you're just supposed to put something away into saving so if your income drops, or you lose your job, you don't have suddenly worry about selling the cars, the home and pulling the kids out of school.

Stop trolling. Or expand your "debate" to include wiggin, Hazir and Veldan, who also say bonuses shouldn't be considered the same as base salary.

Those who get holiday or year-end bonuses know they're not guaranteed amounts and fluctuate depending on other factors. People who work in finance also negotiate their salary and perks, know the difference between wages and stock options, and how to tax their income at the 15% capital gains rate--by claiming their title "advisor or consultant" as a value-added service, and exploiting carried interest trades. That's not a condemnation of bankers and Wall Street, but an example of our fubar tax code.

[Ominous Gamer]

Is it bad planning when you get the same bonus every year?

Then you budget in a way where the bonus is used for nonrecurring expenses. Cars, outfits, supplies, whatever. At worst, that bonus should be your savings.
You don't use it for something you can't shuffle into a lower priority when the need comes.

Let me see you tell your kids that they have to leave all their friends without being upset over it.

Being upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.