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Old Yesterday, 12:11 PM
 
Location: Knoxville, TN
1,249 posts, read 589,161 times
Reputation: 2747

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Quote:
Originally Posted by Serious Conversation View Post
The employment market is very shaky for most people after 50 or so.

My father has mostly worked in manufacturing. Back in 2007, the factory he was working (big American pharmaceutical name) at was being phased out over the next year to two years, and the jobs offshored to France.

He went through a "fast track" associate's in software development at a nearby community college, but most of the graduates were never hired as engineers or software developers. He got stuck in IT call center for ten years before another manufacturing job came about that paid better. Many of the people he worked with were five to ten years older than him, and were about 60 then. A lot of those people never went back to work and were forcibly retired.

My aunt was downsized a couple years at 55 from a management position to a much lower paid hourly role. Best I can tell, she's on about half the income she was at.

I work in IT. I'm 33 now. What I'm doing now has a lot of older workers, but still, my best hope is to get into state employment and get as many years of service as possible.
Just be aware that there are forces at work to chip away at pensions and healthcare for retirees in the public sector. In Georgia, retired teachers used to all be able to stay on the employee health plan at the employee rate until Medicare. Whether you had 10 years or 30, if you qualified for a pension you all got the same health insurance rates. THEN they changed it based on years of service. So, to get the full employee subsidy to your health insurance, 75%, you need 30 years. Anything less and it is subject to a sliding scale. Ten years in only gives you a 20 percent subsidy vs. the 75% previously. The worst thing was that they made the change effective for employees who already had 5 years of service or less......so people worked 5 years thinking they would get one retirement benefit only to have it changed on them.
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Old Yesterday, 01:18 PM
 
1,053 posts, read 514,634 times
Reputation: 1809
Quote:
Originally Posted by ysr_racer View Post
I live in Orange County. Our gas is among the highest in the nation. And my license plates are 600 bucks a year.

Food is expensive, and unless you're under prop 13, property taxes are expensive.
I agree with gas...higher with all our taxes. Property taxes even without prop 13 are still lower than comparable cities on the east coast. If you want to compare with the middle of the country, ok, but we are not comparing apples to apples. Most people who can live anywhere are not choosing between San Francisco and Topeka.
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Old Yesterday, 02:01 PM
 
29,775 posts, read 34,860,277 times
Reputation: 11701
Quote:
Originally Posted by Rakin View Post
Always curious about what makes the writer such an expert.

Her credentials still makes me wonder. Most of us here have more of a Business background than this lady.

Dickler holds a bachelor's degree in Political Science and Art History from Johns Hopkins University and a master's degree from the School of International and Public Affairs at Columbia University.
Actually her background is very similar to most of the host on CNBC. I find it enlightening to check their bio's. Many have journalism degrees. Also she was reporting on the Charles Schwab report and their interpretations not hers as I read it. She was being a reporter not a financial analyst/advisor.
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Old Yesterday, 02:57 PM
 
3,273 posts, read 847,864 times
Reputation: 3779
Quote:
Originally Posted by Rakin View Post
Always curious about what makes the writer such an expert.

Her credentials still makes me wonder. Most of us here have more of a Business background than this lady.

Dickler holds a bachelor's degree in Political Science and Art History from Johns Hopkins University and a master's degree from the School of International and Public Affairs at Columbia University.
Sounds like someone had a lot of time on her hands.
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Old Yesterday, 03:19 PM
 
Location: Scottsdale, AZ
7,632 posts, read 4,693,202 times
Reputation: 27921
Quote:
Art History
Isn't that one of those "I've got to snag a rich guy before I'm 40" degrees?
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Old Yesterday, 03:30 PM
 
7,207 posts, read 8,635,037 times
Reputation: 9066
Quote:
Originally Posted by jrkliny View Post
This is just another piece of cr@p which the title is supposed to function as click bait and attract readers. I guess it worked.
Appears to have triggered some. And the title didn't even match the foundation of the article.
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Old Yesterday, 04:12 PM
 
9,660 posts, read 4,553,619 times
Reputation: 12545
Quote:
Originally Posted by jlawrence01 View Post
Yes, but you have to be smart about it. You have to violate a FEDERAL crime, especially a WHITE COLLAR crime, that is completely NONVIOLENT. If you manage to do that, you probably will serve your time in a minimum security prison farm where you need only be at you assigned location four times a day for the daily roll calls.

So next tax season, set up a tax practice where you get tremendous refunds for your clients based on completely fraudulent returns. And generally, the amount defrauded should exceed $100k.

So if you get away with it, you win. And if you get caught, you win.
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Old Yesterday, 05:57 PM
 
12,296 posts, read 15,190,901 times
Reputation: 8108
It appears financial advisors have taken a page from Nazi propaganda ministers. They found that the public is more likely to believe a big lie than a little one.
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Old Yesterday, 06:47 PM
 
Location: San Francisco Bay Area
4,695 posts, read 2,543,648 times
Reputation: 9132
Quote:
Originally Posted by fluffythewondercat View Post
Isn't that one of those "I've got to snag a rich guy before I'm 40" degrees?
Art history? Nah, that goes to graduates of the Executive Secretarial School program.
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Old Yesterday, 07:21 PM
 
Location: Florida -
8,763 posts, read 10,837,755 times
Reputation: 16632
Of course this type of article is so generalized that all it does is fill someone's column-inch quota. However, the notion that $1.7M is such an outrageously high number that few could possibly need or have that much ... is equally silly.

When an 50K "average" wage earner adds up all their retirement income sources (including SS), the total gross amount of equivalent resources to produce a comparable amount with nominal risk .... is probably not far from $1.7M. (Consider, for example, that a $52K pension is equivalent to $1.3M at 4-percent annual return ... and that doesn't include inflation or taxes).
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