Status during the virus

Quote: petroglyph

State UI benefits are between workers and the state.

But now it seems there is an extra benefit [600 per?] for some such as Kewlj and others.

Should pensioners also be allowed to file for the extra funds?

For one reason, I'm sure these trillions being spent on keeping our economy alive are costing me plenty, and will increase in the future.

If the gov just wants to increase velocity of money, send me some and I will spend it.

Those unemployed because of the shutdown are hurt financially but it is really hurting retirees who can't go back out into the workforce and try to regain their standing.

I can't argue with most of what you said. If someone had asked me, I would have been against both self employed being eligible for unemployment compensation as well as the extra $600 per week for all unemployment claims. But no one asked me. lol

The one part of your post I don't understand is the final paragraph concerning retirees? Not trying to pick on retirees, but to me it seems like their situation has been least effected by this crisis. Whether receiving social security or a pension or both, their income should have been unaffected. They should still be receiving their retirement on the 1st or 3rd or whatever day it comes. No?

You can make the case that retirees have been effected because prices of food and things are increasing. BUT, retirees were eligible and should have received the $1200 direct payments to cover that. So I just don't see retirees being effected all that much.

I am completely lost by your "retirees cant go back out into the workforce" comment. Were you trying to get back into the workforce before this virus and crisis hit? I mean I guess if you were, it is going to be a lot harder now with 35 million people unemployed. Could you explain what you mean by this statement if I am not getting it?

Quote: kewlj

Also for people who work for an employer there are several similar options, laid off, furlonged, unemployed. I am not even sure the difference in the first two options. I guess has to do with a (non-binding) promise of return to work.

I was furloughed
The difference from laid off
I am still an employee but not working and not getting paid. The company is covering all my medical insurance and still maintaining my home office equipment by still paying for my internet so I can access companies secure site for employees and check company email. Yea if they call me back I'll go but I doubt that will happen. They cut to the bone when I was furloughed. I just heard they had another round of furloughs. I was just asked by the company if I would accept an early retirement package. Offered to all over 60. I accepted. Hopefully my package gets approved.

Quote: terapined

I was just asked by the company if I would accept an early retirement package. Offered to all over 60. I accepted. Hopefully my package gets approved.

Just curious as to were you getting close to being ready to retire before this situation or was retirement still a ways down the road? Hope it all works out for you.

Quote: kewlj

Just curious as to were you getting close to being ready to retire before this situation or was retirement still a ways down the road? Hope it all works out for you.

I'm 61.5
Plan was 65 and put together a bigger IRA
The virus is pushing me into early retirement and I could not be more thrilled.
Healthy IRA, own most of my 3br 2car garage place, selling and moving to the RV life. I'll be ok.
I'm an expert in international business travel. Its dead right now and is only going to slowly creep back

I'm in the middle of selling everything on Facebook marketplace.
I'm amazed what sells fast and what sells slow

Quote: kewlj

The one part of your post I don't understand is the final paragraph concerning retirees? Not trying to pick on retirees, but to me it seems like their situation has been least effected by this crisis. Whether receiving social security or a pension or both, their income should have been unaffected. They should still be receiving their retirement on the 1st or 3rd or whatever day it comes. No?

I haven't noticeably been financially injured, yet. But for argument's sake, lets pretend I have a 401k that I saved for the last thirty years and will turn 65 in a little more than two months an I'm waiting on a statement, probably afraid to look online to see how much I lost because of the shutdowns.

I'm not saying I deserve anything, nor do I begrudge those collecting UI that were self employed, but the 600 is fantasy money, no one had it coming, no employer, employee or state had insurance or anything for this extra 600. It is our government trying to save the world from financial disaster, so they printed trillions and handed it out to everyone that had a job, whether they paid into UI or not, in order to keep the wheels of our economy turning. No one deserves it, might as well hand out money for old folks to? The sooner everyone is on the dole, the sooner minimum wage can become maximum wage. Look how fast free money turned so many. I am not saying you, but for many, going back out won't be an option while the money flows.

There is some kind of economic science at work here. Hypothetically, if the fed doubles the money supply and that money is chasing the same amount of goods, theoretically they have created inflation, or something like that. If they suck half the money out of the economy, [deflation] the money that retirees had stuffed in their mattresses would be worth a lot more. So, they've messed with my nest egg by printing to infinity. Actually, the only way the fed can make good on their promises of ss to the public, is to do what they are doing. I'll still get my thousand per month ss, plus whatever's left of the 401k, but it won't buy a block of cheese.

Quote:

You can make the case that retirees have been effected because prices of food and things are increasing. BUT, retirees were eligible and should have received the $1200 direct payments to cover that. So I just don't see retirees being effected all that much.

Is that what the 1200 was for? Idk why they sent it, but we did receive 2400 a couple months ago. We got a big tax return early in Feb., don't know if that had anything to do with it? I'm glad I don't use much tp though, old folk can always find something to gripe about, we're pro's.

Quote:

I am completely lost by your "retirees cant go back out into the workforce" comment. Were you trying to get back into the workforce before this virus and crisis hit? I mean I guess if you were, it is going to be a lot harder now with 35 million people unemployed. Could you explain what you mean by this statement if I am not getting it?

You got it, ammunition for the upcoming disagreement with the UI office when no one wants to go back out.

What's max UI in Nev? On the west coast it was over 600 per wk also, couple that with another 600 from the fed, that's 60k per year. Not bad. Why work for 42, if a person can be free and collect 60? It doesn't pass the smell test.

Quote: terapined

I was furloughed
The difference from laid off
I am still an employee but not working and not getting paid. The company is covering all my medical insurance and still maintaining my home office equipment by still paying for my internet so I can access companies secure site for employees and check company email. Yea if they call me back I'll go but I doubt that will happen. They cut to the bone when I was furloughed. I just heard they had another round of furloughs. I was just asked by the company if I would accept an early retirement package. Offered to all over 60. I accepted. Hopefully my package gets approved.

What happens if you don't accept the early out?

No rush man.

Quote: terapined

I'm 61.5
Plan was 65 and put together a bigger IRA
The virus is pushing me into early retirement and I could not be more thrilled.
Healthy IRA, own most of my 3br 2car garage place, selling and moving to the RV life. I'll be ok.
I'm an expert in international business travel. Its dead right now and is only going to slowly creep back

I'm in the middle of selling everything on Facebook marketplace.
I'm amazed what sells fast and what sells slow

Do you have a list of what sells and what doesn't?

A guy pulled into my driveway, walked up to my door and bought my truck 3 weeks ago. I had no idea the rules Az. has on selling a rig? The guy took it to Calif. and I had to contact him to get the license plates back, which I didn't know. I just go them and I have to turn them in at Az. dmv, what a pita.

I've always read the nickle adds wherever I went, been curious on what sells and doesn't.

Back in the day, it seemed like I could make a little money selling PU canopy's, which sold fast. Tractors sell cheap in Eastern Wa. and sell high in Western Wa.

Used RV's are going cheap and cheaper I think? Toys should be going pretty fast?

I used to go to a lot of auctions. Then for a few years I went to them with my concession trailer. Guaranteed sales. Couldn't make coffee fast enough at an auction.

Quote: petroglyph

Do you have a list of what sells and what doesn't?.

A lot of my Asian stuff sold well
My Mom sold cosmetics and had a whole stash set aside I found. 20 years old and it sold fast
My treadmill sold fast, that surprised me. It's not high end and thought I would have to junk it.
Extra bike sold fast.
Some furniture selling slow. I gave away the big China cabinet
Neighbor buying my kayak. That was easy.
Putting my pop camper up for sale this weekend. Hopefully I can sell and get more money then trading it in. It old, 15 years , but garage stored it's entire life.

Quote: petroglyph

What's max UI in Nev? On the west coast it was over 600 per wk also, couple that with another 600 from the fed, that's 60k per year. Not bad. Why work for 42, if a person can be free and collect 60? It doesn't pass the smell test.

Max UI in Nevada is $469 a week. With the federal $600 it comes out to around $950 a week after withholdings. If it was double that I might consider not working and just collecting, but I am spoiled and bored to death so I will continue working until I can retire comfortably at a standard of living similar to what I have now.

Quote: terapined

A lot of my Asian stuff sold well
My Mom sold cosmetics and had a whole stash set aside I found. 20 years old and it sold fast
My treadmill sold fast, that surprised me. It's not high end and thought I would have to junk it.
Extra bike sold fast.
Some furniture selling slow. I gave away the big China cabinet
Neighbor buying my kayak. That was easy.
Putting my pop camper up for sale this weekend. Hopefully I can sell and get more money then trading it in. It old, 15 years , but garage stored it's entire life.

Does your RV have an awning? Those almost double your undercover/out of the weather space. They're great.

Solar panels? They have RV encampments out this way every winter, like wagon trains of old.