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A lot more boomers wonder if they will ever work again. Someone suggested moving to where there are jobs (where?). If everyone did that the places where there are jobs would soon have higher unemployment rates than Detroit.
No, the number of jobs in an area is not fixed, the more people that come to the area the more jobs that will be created in that area. But, "everyone" is not doing it, so many people make excuses why they can't move and/or don't have the means, hence those that are willing/can to do so can gain a lot.
"Some equity", at 60 they should own the house! Its a little hard to feel sorry for a 60 year old that can't sell their house because they don't have enough equity.
Anyhow, many Americans nowadays seem to believe that they should be able to get a good job and never have to make any sacrifices.
Not everyone bought their home at age 25.
Many used their homes (wisely or unwisely) to finance their kids' education, not to take a trip to Acapulco. These people may have paid off, or paid down, their mortgage but with this kind of equity loan are right back up to where they started (no judgments, please).
"Sacrifices"--you are assuming that many Americans never made any. Until you have a family, raise those kids, pay for those kids and their education all the way through, and perhaps help out your aging parents, you cannot understand how someone age 60 may not have their home paid off.
I'm getting a little tired of all the judgments about the average American worker and family*---no, it's not everyone's fault, and no, not everyone out there mismanaged their funds and is irresponsible. Posters, please qualify your judgments to a specific named segment of people, otherwise this gets offensive and old after a while.
* I heard last night on the news that any tax on an income of $500K per year (if there were to be one!) only applies to their first $100K. Funny how that doesn't work for the rest of us.
Last edited by RiverBird; 11-01-2010 at 01:50 PM..
No, the number of jobs in an area is not fixed, the more people that come to the area the more jobs that will be created in that area. But, "everyone" is not doing it, so many people make excuses why they can't move and/or don't have the means, hence those that are willing/can to do so can gain a lot.
People (especially elders) are not going to sell their home (even if they could get a buyer), pull up all roots and move to some place that may or may not have jobs they can get at the point that they move there. People are constantly moving to cool lifestyle places like Portland, Ore. Do you know what the job situation is like there?
Okay let me put it another way... if I couldn't find work and I knew of an area with a much lower unemployment rate I'd move there.
It seems you would stay put in the area you say has no jobs, who do you think has a better chance of finding work you or me?
The obvious answer is to not depend on jobs for survival. You can chase jobs like you can chase anything else, and not get the catch. You can also jump from the frying pan into the fire. If you lose your job, take your skills and open up shop for yourself, but if you read Noncontingencies (sp?) posts, you'd better be smart about it (i.e., don't come up with a "bad plan").
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