You guys are being too jumpy. He was going to go anyway. The RBI had wanted him gone since a long time now. Even before this derivatives fiasco was disclosed, he had been granted an extension for only one year.
The bank is also well capitalised and not going to fail anytime soon.
The stock is...
This is not a great idea because if it takes 15 years, your rate of return will be lower than that from a FD. It is a mistake to ignore the time value of money. Of course you need to be a patient long term investor, but keep monitoring your XIRR and rebalance when prudent.
It seems a lot of the outrage from people is because the bank was "trading in derivatives" which people equate to playing rash in the stock market.
However, I believe here the derivatives were actually to reduce risk - the bank has a exposure to foreign currencies and they cannot possibly make...
I might buy in the next few sessions. I don't think the bank will fill based on the disclosures so far and I think this crash presents a good buying opportunity.
Boss I wanted you to put down numbers so that I can point out exactly which number is wrong but sure, may be I am the idiot here. You should continue to avoid earning more money if it will put you in a higher tax bracket!
For everyone else, the last line is sarcasm. In all cases, higher pre-tax...
Please give illustration of tax calculation for both scenarios and of post tax net income in both scenarios.
My claim is in no case you get to keep lower amount in spite of earning more because of change in tax bracket.