Wear and tear

Do you like who you work with and for?

Sure, $ is important, but I'd much rather be happy in my job if the income was remotely similar.

 

I find it interesting you didn't consider wear and tear on yourself but only on your Prius. After experiencing commuting to work over 60 miles round trip for over 10 years I would only ask you to think about this variable as well.

In the end, however, only you can answer this question. To only evaluate the dollars tells me you need to expand your sphere of questions to ask yourself. I must agree with Brian K on his points. I am merely expanding on his views.

Good luck.

 

did the new place give you details on their health benefits? i think with all other things considered equal, that is the most important thing a job can offer. i say this because in less than a week we just lost over a month's income (yes, combined) for health insurance copays/high deductibles/dental deductibles/copays/services not covered/services over annual payout limit, plus lost work income, etc.

security (of health and finances) is much more important than wear and tear on something like a car.

my 2 cents (or was it a rant?) on that anyway. sorry it was OT.

 

<div class='quotetop'>QUOTE(maggieddd @ Jun 22 2006, 03:52 PM) [snapback]275500[/snapback]</div>

How much are two to two and a half hours less driving a day, which should translate to free time, worth to you? That would be my major concern, quality of life as opposed to the cost of operating my car.

 

I don't know what numbers to put in but I would take the cost of tires/expected life span, oil/tire rotation. Depreciation based on mileage is important as well but still unknown with these cars. Brakes are fairly unknown. Filters and such incidental items may need more frequent changing based on your mileage and type of roads you are on.

All that thrown in probably is not going to make up for the huge difference in Health Care costs and as long as you have no other options for decreasing that and you don't mind the drive I would say your old job is still more worthwhile.

 

Based on detailed calculations the total cost of ownership (TCO) of my 2001 Prius is less than 23 cents per mile. I would be surprised if many Prius exceed 30 cents/mile.

TCO includes purchase price, financing, insurance, registration, and all the rest of it. Your wear and tear might not be so inclusive?

 

Keep the current job and move closer. Then you get the best of both worlds.

 

<div class='quotetop'>QUOTE(maggieddd @ Jun 22 2006, 06:52 PM) [snapback]275500[/snapback]</div>

No one has mentioned the difference in 401Ks. Assuming a salary of $50,000 with increases of 5% a year and a return of 8% average on your investment the employer only portion of your 401K would look like this at the end of 30 years. This assumes this is your first year.

Employer 1 9% Value after 30 years $996,625.72

Employer 2 4% Value after 30 years $473,321.79


Insn't compounding interest wonderful! Remember this is only the value of the employers portion.

 

<div class='quotetop'>QUOTE(jburns @ Jun 23 2006, 09:36 AM) [snapback]275752[/snapback]</div>

I often here people say "a return of 8% average", I would like a return of 8% average over the next 10 years. Could I ask where you get that?

As for the new job, Maggieddd, you are in a unique position. You can ask for whatever it takes for you to not be able to turn down the new job. You can always say something to the effect of, "I appreciate your offer and I think I would be very happy here, unfortunately the financial situation for both jobs is so close that it makes it a difficult choice". Or any thing you can think up to see if they will up the anti.

Somtimes turning down a job works wonders.

 

<div class='quotetop'>QUOTE(galaxee @ Jun 22 2006, 08:13 PM) [snapback]275538[/snapback]</div>

As a cancer survivor who was helped to a cure by excellent health benefits (no premium cost to me) from my job, I second that emotion.

 

<div class='quotetop'>QUOTE(grasshopper @ Jun 23 2006, 09:56 AM) [snapback]275758[/snapback]</div>

Here's the reasoning. For the period 1928-1998, which includes the great depression, if you invested in common stocks there is not a single 30 year average that was less than 8%. The average return is over 11%. You may not make money this year and maybe not next but if you hang on over a long period the odds shift dramatically in your favor.

Explanation

Simple Bar Graph

 

<div class='quotetop'>QUOTE(jburns @ Jun 23 2006, 10:44 AM) [snapback]275776[/snapback]</div>

You are correct of course, but that info is a little deceiving.

A. It stops at 1998 skipping the bear market starting in 2000.

B. It doesn’t include fees.

C. It all depends on when you retire or need the money. If you retire in a bear market you may not get even close to 8%. In fact you could lose money.

This is why I have trouble with generalized statements that lead people to think that they can get 8% easily.

 

<div class='quotetop'>QUOTE(grasshopper @ Jun 23 2006, 11:13 AM) [snapback]275789[/snapback]</div>

Yeah I noticed it stopped prior to 2000 but it did include the great depression. I agree about when you need the money being important but I was talking only about 30 year averages. No matter which 30 year period you choose you will have averaged at least 8% over the period. Not to shabby if you are strong enough to leave it in the market through the turn arounds.