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Last edited by Rat Fink; 12-06-2020 at 01:35 PM.
Thanks for the 14 years of LOLs. Govern yourselves accordingly and avoid uppercut reactions!
Have you considered going back into the FT job search and shelve / step back from the project for a bit?
Sounds like it isn't cash flowing what you need it to be?
I have heard the job market is picking up quite a lot and I have seen a couple positions you would be qualified for? I got an email from Quaderra this week about an exploit and a production engineer position for 3-8 years experience?
Its a job
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
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That's kind of off topic, so I've PM'ed you.Originally posted by killramos
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Here is some tough love that might help:
If you aren't getting interviews, the problem is your resume sucks for what you are applying for. Maybe it is intimidating, or maybe it just plain sucks, or maybe both. Tailor the resume to what they are looking for in an employee without lying and you should get interviews. The entire point of a resume is to get an interview, and nothing more.
If you're getting interviews, the problem isn't what your experience is or what is on your resume; the problem is you, in the interview, you. Your resume got you the interview, and now its up to you to not fuck it up or fuck it up all on your own by how you answer questions, your tone of voice, what you wear, etc. So you are interviewing bad and are doing something that translates into 'don't waste your time hiring this guy'. If it's for an entry level position they are constantly hiring for because the job is a revolving door type of job, you probably are screaming don't hire me at the top of your lungs with whatever you are doing in the interview.
You assuming it is because you're way over qualified as the foremost problem you face tells me it's something else. attitude potentially? unrealistic expectations (what kind of part time entry level job works 3 days a week, evenings, and for shifts that are as long as 12 hours.....), they think you're an asshole/moron/hipster/complainer, entitled (ya you dont want $50 an hour, but do you want $25 an hour for casual part time work that revolves around your schedule? lol gl) or one of a billion other things, but your only problem is figuring what you are doing wrong, and changing it.
I'll tell you this also. the way I look at hiring has everything I ask fall under 4 ultimate questions:
-Are you a good fit for the company?
-Is the company a good fit for you?
-Can you do the job competently (now, or after training)?
-How long do I think you are going to stick around for?
Right now i'm hiring a relatively entry level customer service position, 150 resumes submitted (those who are getting interviewed number in the single digits), and as of today the person I'm leaning strongest towards hiring is a girl who has never worked in my industry before, has a resume that reads 'wtf, why does this girl want this lowly job when she's done jobs that obviously pay more', and was just in school to do something totally unrelated (real estate).
Why I am leaning towards this person when there are people applying that have done the exact same job is because this girl managed to convince me she's looking for a career change that is very customer service focused, understands customer service the way I view it, and is relatively smart (so while she may require some training, shouldn't be hard to train). She also has never worked anywhere less than 2 years on her resume, and has a timeline without any gaps). Upon entering the interview my main goal was figuring out why she wanted this job, and what she really wanted to do with her life. The strength of her interview pulled her from the bottom of the pile of potentials, to the top. It is irrelevant for your situation if I am making the wrong choice going with her; the point is she is basically you on paper from what you described, and baring the last 2 people blowing my mind, I am likely going with her.
Now there are definitely people out there who will write you off completely because you have too much education or experience and they are 'sure' you are going to jump ship as soon as the oil patch fires up, or you finish school, or something better comes around, but those people aren't going to waste time interviewing you if they are already 'sure' about who you are. If you have an interview, they're taking a chance on you and are looking for you to convince them that you will work out or will be worth their while. It's all on you and how you come across.
This is one of the dumbest things I've seen posted, so, ya knowOriginally posted by 03ozwhip
there is no way that any person, with an inch of sense in their bodies that would think this way.
Withdrawing from retirement savings to cover income shortfalls is like selling at the bottom. Its a last resort/bad idea.
Now of course, what I said is extreme (nobody is going to live in a box, if you took that statement literally, er, I don't even know what to say about that), but retirement savings should be used as a last resort.
My opinion. Most personal finance articles would agree. Extraslow has his reasons for doing what he has done and laid them out. His choice to make. He is on a discussion forum, here we are discussing I would not remove retirement savings to do what he is doing.
I know you would never do this, so even suggesting so, doesn't make sense. so, you have no job, can't find work to cover all of your bills and you've cut everything down as much as possible, what are you going to do?Originally posted by HiTempguy1
This is one of the dumbest things I've seen posted, so, ya know
Withdrawing from retirement savings to cover income shortfalls is like selling at the bottom. Its a last resort/bad idea.
Now of course, what I said is extreme (nobody is going to live in a box, if you took that statement literally, er, I don't even know what to say about that), but retirement savings should be used as a last resort.
My opinion. Most personal finance articles would agree. Extraslow has his reasons for doing what he has done and laid them out. His choice to make. He is on a discussion forum, here we are discussing I would not remove retirement savings to do what he is doing.
I don't think ExtraSlow is quite at that point, but he's definitely weighing his options at this point and he has a very good option in his RRSP's.
He is attempting to build a business... so anything he needs to spend now could be considered an "investment" in said business, the part time job would also be an investment, so he needs to weigh the options vs what the business will require of his time... chances the ROI of his RRSPs isn't nearly as great as their potential return of said business... which has the potential of being his new retirement vehicle... but I mean not everyone has the capability to see that far outside their own box, so carry on forcing your personal beliefs on others. No risk, no reward
Until you have some, you will do anything to make sure they have the best and have as little impact as possible.Originally posted by HiTempguy1
Kids are tough, durable, and they will appreciate the sacrifices you make for them (eventually, even if they don't see it now).
If my revenue has ran out, I would dip into TFSA and then RRSP in a heartbeat if I have kids. Don't get me wrong, I would still do a lot of downsizing and cost cutting but I would try to induce least impact on my kids.
Kids are retirement investment too, although I want call them blue chip, more like tech stock.
Last edited by Xtrema; 01-05-2017 at 10:33 AM.
I am interested to hear from beyond finance gurus (like HiTempguy1) what order they'd put these options in. THis should probably be it's own thread, but WTF, we're already somewhat sidetracked.
- Selling a reliable vehicle and switching to a beater
- Selling RRSP
- Selling TFSA
- Liquidating RESP
- Selling other investments
- downsizing home.
- Withdrawing from HELOC.
Some of those carry risks and some incur significant costs and some have tax implications. I suspect there are a few ways to skin this cat.
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This is good advice, and well presented. Not all of it applies to me, but it's a good guide form anyone in my situation. Thanks.Originally posted by zhao
Here is some tough love that might help...
I thought I would also mention that beyond is an incredible community, and I have had a couple beyonders PM me with some very good suggestions.
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1. Selling other investments - unless these investments are earning you living income, ditch them.Originally posted by ExtraSlow
I am interested to hear from beyond finance gurus (like HiTempguy1) what order they'd put these options in. THis should probably be it's own thread, but WTF, we're already somewhat sidetracked.
- Selling RRSP
- Selling TFSA
- Liquidating RESP
- Selling other investments
- downsizing home.
- Withdrawing from HELOC.
Some of those carry risks and some incur significant costs and some have tax implications. I suspect there are a few ways to skin this cat.
2. Selling TFSA - Least tax implication
3. Selling RRSP - Some tax implication but keep your way of life for a bit longer
4. If 3 is going to prolong, you may want to looking into this. But this is more of a paying $30K in fees (realtor/moving cost) to save $100K+ (which most are loans anyway if you have a mortgage). And if you are pulling this move, you are probably going to refinance to give you a lower operating cost. Caveat, see #5
5. HELOC - not a good idea unless you need the HELOC as seed money for the business.
Never - Selling a reliable vehicle and switching to a beater
Unless the beater is a 6-7 year old Civic or something simple to fix, you want a reliable car for the family. Time is money and break down costs time and money = 2x money lost.
Never - RESP, obvious tax implication as well and at the way education cost is escalating not bad to have this for your kids. We can always fall back on CPP/OAS/GIS, but having that shit load of student loan graduating isn't ideal.
Last edited by Xtrema; 01-05-2017 at 11:53 AM.
I would consider the options in this order:
1. Selling TFSA
There are no tax implications, and you can contribute back whatever you take out later on. The TFSA was pretty much designed specifically for this type of scenario.
2.Selling other investments
Depending on liquidity of assets and position (capital gain or loss). Do you have capital losses to offset capital gains? Either way, it's still a solid choice.
3. Selling a reliable vehicle and switching to a beater
Depending if it has equity and if the payments are high. If there are low to no payments and it's a reliable economy car like a Honda Fit, I wouldn't sell it. If it were say a 2 year old BMW, I would down grade. If you are in negative equity, that's a tougher choice, can you even afford to pay off the difference on the loan?
4. Withdrawing from HELOC
Depends on how much HE there is and interest rate. Also if you're struggling now, can you afford the extra interest payments.
5. Selling RRSP
Contribution room is gone after you withdraw, but it depends how close you are to retirement and how much is in there vs, how much you want to take out. I would consider this as a viable option after exhausting 1-4.
6. downsizing home
Depends how much you're downsizing and how much equity is in the home. It's a pain in the ass to buy and sell and also costly. Unless you're way over leveraged and making crazy payments, there's no justification to sell as you have to live somewhere whether you rent or own and it isn't free.
7. Liquidating RESP
I haven't looked into this and I don't know the rules.
Haven't read any replies, but my first thought would be to lie on your resume, and remove some of your experience and education? Why not?
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Last edited by blindsight; 03-08-2017 at 11:03 PM.
- Selling TFSA
- Selling other investments
- Selling a reliable vehicle and switching to a beater
- Withdrawing from HELOC. (if HELOC significant amount, then sell)
- Selling RRSP
- downsizing home.
- Liquidating RESP
downsizing a home IMO is last step. incur fees and you don't save that much unless you're over extended to begin with. If you HELOC, it might be enough to get you through the tough times.
I would never touch the RRSP as if you actually have to declare bankruptcy one day you get to keep that money. Don't ruin your future.Originally posted by ExtraSlow
I am interested to hear from beyond finance gurus (like HiTempguy1) what order they'd put these options in. THis should probably be it's own thread, but WTF, we're already somewhat sidetracked.
- Selling a reliable vehicle and switching to a beater
- Selling RRSP
- Selling TFSA
- Liquidating RESP
- Selling other investments
- downsizing home.
- Withdrawing from HELOC.
Some of those carry risks and some incur significant costs and some have tax implications. I suspect there are a few ways to skin this cat.
I would do everything possible to lower monthly expenses first, then selling items you don't need and downgrading things like vehicles/homes next. Part time job maybe? I know someone that recently had to start a part time job to keep making payments on his Benz...
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Last edited by kaput; 03-12-2019 at 12:31 AM.
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Last edited by blindsight; 03-08-2017 at 11:11 PM.
(wrong thread)
RRSP until it's zero. It's a scam that is sold as tax deferral that ends up denying you social benefits until it's depleted. Keep your retirement money non-registered and suck on the public teat while keeping your nest egg. You paid into the system, might as well collect the benefits on day 1 of retirement.