Thread regarding Cisco Systems Inc. layoffs

Don't Worry About August; Do This:

Cisco is not a bad company now, nor then, in the hayday.

The best thing the common everyday person can do, who is attempting to stick with it for the long haul:

A. Max your 401k, stick to index funds.

B. Max your ESPP.

C. When your ESPP vests, (fully realized) sell your original sunk cost into a Roth IRA. You can do this for $7k a year. Buy simple index funds. Never pay taxes again. Diversify. Not your money.

D. I stayed for 16 years, did the above, making just over $110k a year (guessing you make more :) ).

E. See a financial planner, stay away from big debts (expensive car loans, big mortgages; you can easily get your net worth over $1.5M).

F. Then it's your call, on what you want to do with your life...if they do LR ye eventually...

G. It's not what you make, it's consistent planning, and seeking a good financial planner.

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| 2581 views | | 2 replies (last July 11, 2019) | Reply
Post ID: @OP+ZYqNo96

2 replies (most recent on top)

Great advice. I wish you told me this 20 years ago when I started at Cisco. I did half of what you said on my own, so I am not in a bad shape right now, but if I followed your idea 100% - I think I would not fear being LRed every single July.

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Post ID: @1tqz+ZYqNo96

You make very sound financial planning points but I don't agree with being a lemming and buying an index fund. The market has become very predictable in a programmatic way in the last 15 years where index funds are re-balanced on prescribed interval and everyone thinks they are getting a beta return. I am not at all sold on the "Blackrocks" of the world and others are not going to get exposed at the next financial crisis where stock picking matters in terms of asset protection.

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Post ID: @1wyo+ZYqNo96

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