I have ₹8k in my bank account - that is how much I’ve earned from my stupid internship in four months. Used some of it for emergency reasons. Placements for CS have dropped by 70% in India. I’ve graduated with a useless degree. And I’m still jobless after graduating last September. Haven’t used my bank account in a year lol. Have a broken laptop and phone. Fuck the system.
No, a traditional IRA would be even better for that. With a Roth, you can withdraw the principal without penalty since it was after-tax to begin with; it’s only the gains that you get punished for taking out. In contrast, any amount of withdrawal from a traditional account incurs a penalty (with a few exceptions, such as using it to buy your first house or whatever).
Agreed… here, it’s about family, being together, chatting, laughing, just having a good time in general. Sure, there are discounts, but most people use those to just buy some new appliances (in most cases, replace broken ones).
Something funny I’ve seen is that in Norway it’s customary to distribute the income tax deduction over 11.5 months instead of 12, so that in November or December people only get deducted half the regular tax on their payslip. This is done to ensure that everyone has money for Christmas. It’s so dumb and beautiful that I can’t help but love the idea.
Yes that’s also very common, but that’s a little more complicated. It’s only an option for people who have had the same job for more than a year and for those who agree on settling the entire holiday pay in June even if they don’t actually go on holiday then. It varies how people do it.
Unlike Norway, most EU countries tax the holiday on accrual so it’s always without a deduction when paid out regardless of when. Norway taxes it in the payment year though it is spread over the other months.
There are pros and cons to both ways. Personally I think that EU has the better one, not because of the taxation but because it’s not necessary to accrue holiday in advance.
All of that requires a livable wage first. How many times do people have to prove that no amount of “dilligence” will allow people to live, let alone save on minimum wage in most places?
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