Crunching the Costs of New Year's Resolutions
While not an option for employees just happy to have a job during the recent economic downturn, a recent survey by job placement firm Manpower found that 84% of workers plan to look for a different job this year, up from 60% a year ago.
That said, there are myriad factors beyond salary that could turn a change of careers into a cash vacuum. According to the folks at Monster.com (MWW), any new degrees required for this change would incur the tuition, fee and room-and-board costs mentioned earlier in this list. Unused sick time and vacation days would also be chalked up as losses, as would any disparity in benefits such as stock options or day care. Job-hunting expenses are usually tax deductible, but that only applies when seeking a job in the same profession.
If your career path leads out of town, however, the Employee Relocation Council says to prepare to pay an average of $1,836 for a house-hunting trip, more than $16,000 on average for the move itself if you rent and an average of more than $55,000 if you own a house and need to sell it.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV