Do you choose your financial bracket?

amother

OP ↓

Mon, Dec 16 2024, 6:09 pm

Do you choose your financial bracket on purpose? If you’re right above the bracket for programs did you cut your hours? Do you not work if dh is making right below the bracket? I would love to hear opinions on this and people’s personal experiences

SYA

Mon, Dec 16 2024, 6:10 pm

Most people don’t choose their financial bracket. They want to work to save for wants and long term like simchos and retirement.

Many people are in their bracket only because Hashem hasn’t bentched them with Parnassah yet.

amother

Midnight

Mon, Dec 16 2024, 7:01 pm

I chose to be wealthy but sadly I am still poor and on programs. So choosing doesn't seem to have worked for me.

amother

Tangerine

Mon, Dec 16 2024, 7:03 pm

amother OP wrote:

This kind of thinking has never been on our radar.

amother

NeonPurple

Mon, Dec 16 2024, 7:04 pm

Not exactly the same but I use DCA, FSA and 401k contributions to keep my kids still on jersey care. The contributions lower my taxable income enough to be under the income limits. Once we make too much to do this I hope we’ll be able to pay for insurance for our kids

amother

Outerspace ↓

Mon, Dec 16 2024, 7:05 pm

When my husband was in school I made sure to earn low enough to still qualify for Medicaid, food stamps etc. Since I knew our situation was temporary, it financially wasn’t worth it to make above the poverty line and lose the benefits. BH as soon as he graduated our income shot up to about $200k, 5 years later it’s now approx $400k. Haven’t seen a government benefit in a while LOL

amother

Aubergine

Mon, Dec 16 2024, 7:16 pm

When I was in school I made sure to stay in the lower bracket until I finished school.

amother

↑ OP

Yesterday at 9:42 pm

amother Outerspace wrote:

What does your husband do ?

amother

Sapphire

Yesterday at 9:53 pm

No. I wish we could make more. It just doesn't seem to be my lot in life.

amother

↑ Outerspace

Yesterday at 9:54 pm

amother OP wrote:

What does your husband do ?

Lawyer in Big Law

Ema of 5

Yesterday at 9:55 pm

amother OP wrote:

Most people are not able to choose the bracket into which they fall. However, I do know many people who won’t take a raise because it would raise their bracket and they would lose benefits. I know a few people who don’t work so they can stay in a specific bracket (but really less than a handful)

amother

Fern

Yesterday at 9:57 pm

It never entered my mind to not try to make the highest salary possible.

You are chaining yourself to a heavy anchor because salaries are generally based upon your history of compensation and so poor financial decisions will follow you the rest of your life.

I always assumed that I was going to have to work and so I wanted to make the highest amount possible if I was putting in the hours - within reason of course because I also wanted to work in a field that was interesting and reasonably fulfilling. I could make a higher salary but I wasn't willing to trade job satisfaction solely for a higher salary.

.