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But you are taking a job away from a younger person.
You see (or perhaps you don't), there is a point where your higher income outweighs any increased productivity that you might bring to the table.
You'd best believe that issue has been looked at by your employer. And will continually be looked until a certain point is reached. And then, off you go.
It happens all the time.
BBM
Do you mean that older people are taking jobs away from younger people?
If so, the answer is that older people have a level of excellence in diverse skills that are in demand today.
Higher income and lower income is a smoke screen. Experience justifies higher salary because production time is reduced to a fraction of the cost of a newbie. Productivity suffers under new, inexperienced employees, not the opposite.
Nothing is being overlooked. Lazy dumb people work the gutter, and ambitious curious people have "reached a certain point".
That sounds ideal. Many who retire are dead within a year.
That's the difference isn't it - it's the length of time that it takes to complete the task. Older age does it in two hours, younger age can take days.
so why aren't younger people putting more into saving for retirement? so they don't have to work until they die?
what money they save does the work of providing an income later for them
so why aren't younger people putting more into saving for retirement? so they don't have to work until they die?
what money they save does the work of providing an income later for them
Same reason old people didn't put more into savings for retirement so they don't have to work until they die. They'd rather spend it now and complain about it later. That's not universally true but as a generality it unfortunately is. I'm not worried about either of my parents. I would have worried a bit about my dad but he died young after his business went under. He'd almost dug his way out when he died but at 59 that didn't leave much time. It won't be an issue with my mom. Between Social Security, pension, and private retirement it's just a question of whether she'll have a higher standard living if she works later or a lower standard if she retires earlier than she currently has. House is paid for so the major thing is Medicare. At 65 she could retire fine. My sister scares me but what can you do about people that don't want to save?
Do you mean that older people are taking jobs away from younger people?
If so, the answer is that older people have a level of excellence in diverse skills that are in demand today.
Higher income and lower income is a smoke screen. Experience justifies higher salary because production time is reduced to a fraction of the cost of a newbie. Productivity suffers under new, inexperienced employees, not the opposite.
Nothing is being overlooked. Lazy dumb people work the gutter, and ambitious curious people have "reached a certain point".
Nope, I mean that age discrimination is alive and well in this country.
And should you find yourself unemployed for whatever reason and are over age 50-55 or so it can be very, very difficult to find another comparable position.
I have read that if you are in that category and have been unemployed for more than 6 months (or was it a year? no, 6 months I think), it doesn't matter what your former job title was, what your level of experience is, what your educational background is or where you live your chances of finding a new equivalent position is less than 10%.
Nope, I mean that age discrimination is alive and well in this country.
And should you find yourself unemployed for whatever reason and are over age 50-55 or so it can be very, very difficult to find another comparable position.
It depends on the industry in which you work. My husband was an electronics engineer, and although he was never laid off (he retired), he was very much aware that there was age discrimination in tech and that he could certainly be laid off and have little recourse, and that he would be unlikely to find another job at his age. (He was of the opinion that companies will always hire a young engineer over a 50 or 60 year old, and I believe he was right. Glad we never had to test that.) I was (am) in a medical field, and age is really not a factor for me. I have always been able to get a job and even now, at 65, I can work as much as I want to. I receive at least a few head hunter appeals a month, so I could easily find a full time job, but I don't want it.
That's a highly unusual situation and the article admits this type of situation is much less likely to be achievable today.
However, Diane Garnick founder and CEO of Clear Alternatives, cautioned that the environment these days is much different than when Read invested. She noted that he likely saved cash in the '70s before moving into the stock market, and then caught the tech boom. On top of that, interest rates are literally at zero, she noted.
"One of the things that's really important is for us to take a step back and say look it's great that that happened over the last 40 years but there is a lower probability that it happens over the next 40 years," she said.
Many people are living paycheck to paycheck and it's not because they buy I phones and new cars every year. Salaries have stagnated while the basic costs of living have risen dramatically. Housing and health care alone can suck up a huge percentage of one's earnings leaving little left over for savings. I know many people who spend responsibly and save everything they can but don't have anywhere near enough to ensure a comfortable retirement. The number of people in this situation is likely to keep growing.
Status:
"Smartened up and walked away!"
(set 27 days ago)
11,788 posts, read 5,795,007 times
Reputation: 14208
Quote:
Originally Posted by EmilyFoxSeaton
Your entire post is all.. oh there is this, but it isn't perfect... oh there is this but it isn't perfect.
Stalker much? I don't even remember that thread so I can't fight you but I remember asking about a handyman to do some work in my basement. Look out.. I must be up there with the the Trumps!
Your right, I chose well. I will be pretty well off when the time for retirement comes. Because I have been planning for a long time and working hard to save every dime I can. But I also will be moving to a cheaper state not demanding that I get even more money because I want to stay here.
Can't have much sympathy for those who didn't and now want even more entitlements.
Just more selfish baby boomer attitude. They are the most spoiled generation.
Stalker - no - but we do get a sense of what people are actually like when we read previous posts - too bad you're so full of yourself that you don't understand some people were not as fortunate as you - but I'm not going to explain as your mind is set and you can't see past the end of your nose.
Status:
"Smartened up and walked away!"
(set 27 days ago)
11,788 posts, read 5,795,007 times
Reputation: 14208
Quote:
Originally Posted by Weichert
But you are taking a job away from a younger person.
You see (or perhaps you don't), there is a point where your higher income outweighs any increased productivity that you might bring to the table.
You'd best believe that issue has been looked at by your employer. And will continually be looked until a certain point is reached. And then, off you go.
It happens all the time.
Who says that person isn't making the same amt of money as a younger person. Age and experience does not equal higher pay. In the end it all comes down to what the employer wants - do I maybe pay an older person 20% more when I know they can get the job done in 3 days so we can get on to something else or do I hire someone younger full time and it takes them a week or a week and a half to complete the job - thereby pushing the next project back.
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