Lived far beyond their means. They are chained to their paychecks. I know this woman with dual income who bought a $1M+ home in SW Florida during Covid and then commuted in the short term to Atlanta. It all blew up on her with combination of RTO, insurance going through the roof, and negative equity now in the house. Well not negative equity just yet because she can't even get lookers at the price she is asking and reality hasnt set in yet. Home in Florida, Apartment in Atlanta, her and husband away from each other, totally overextended themselves thinking RTO and Home Appreciation gonna never end. Also doesn't help having a newer Land Rover and BMW convertible. And this woman working in business?
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Being financially irresponsible isn't something unique to T employees, it's practically the American way. Living beyond your means to "impress" people that don't like you anyway. It's so silly.
Most people with real "wealth" drive older, paid for vehicles and do d-mb things like paying off their mortgages early.
I drive a reliable10-year-old vehicle. I have no mortgage, my kids have no student loan debt, and I have a couple million in retirement (should be more, but I was a bit foolish with money when I was younger too). Having financial peace of mind in this current environment is well, priceless.
others financial choices are none of your business.hanging on sounds like the battle cry of an employee with no seniority or security.myob
I'd say that story is out of the norm. I think a lot of people hang on for the health insurance. Even if it "might be better" coverage/cost somewhere else, at least at T, you know which of your medications/treatments are covered. New companies means having to get all new approvals and treatment authorizations for yourself or family members. Making sure chronic illness coverage is coded correctly and goes through without spending hours on the phone each month is worth something. Switching companies means a clock starts to get the next treatment set up and covered on time.
May your family always be healthy.
I'm hanging on because the money earned is too easy. This job doesn't require very much brain or back power, so why quit or retire! Basically, money for nothing and it's not very taxing!
I'm just a tech and my home is worth 3/4 of a million dollars...homes cost a lot of money these days! The average cost of a house these days has sky rocketed!
Let's see, the company s seeking great during the quarantine. You might not remember. The whole country suddenly needed good home internet and unlimited mobile service. They exchanged their commuting costs for Unlimited Max and ATT Fiber plans. Oh, and DirecTV to keep the kids entertained. Moving in that environment doesn't look like a bad idea.
Now, if they moved to Florida after Biden broke the economy that's a different story.
Likely untrue.
This person with a Million dollar home must be a VP or above. That is said they are such an id--t.
Living beyond your means is the American way. We love our credit. Gotta keep up with the Jones's.
I’m just collecting and investing while T foots the bill and I keep lying about moving.