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My wife and I celebrated tonight. She received her bonus and I got a call from my Mgr today regarding mine.
Get this: I am eligible for up to 15% of my salary. Half depends on our operation’s success and the other half, on the company. We met our numbers....blew them away in fact. The company OTOH didn’t. Huge misses, Wall Street not happy, stock in the tank.
But, the CEO went to the board and made a case for our bonuses. Heck, I was expecting X/2 but not only did we get X, we were eligible for X * 1.15. I actually got just a little less. Someone on the team had a great year and, well, earned a little more. I’m cool with that.
So, champagne, chocolate and we even invited a retired neighbor to join us for dinner.
I love my job. I love the team who works for me. I love my coworkers. I’m paid well. Since my wife won’t retire until she’s 60, why would I rush to give up the best job I’ve ever had? Besides, no one can do my job as well as me. Lol.
Some of these executives live to the top of their income. They simply can’t afford to maintain their standard of living if they were to retire. They never put the needed money away in their retirement plans. Their standard of living means more to them. You have to have all of your bills paid off before thinking of retirement.
But bills never stop just because you stop working.
Why retire and die earlier than if you kept working? Studies prove this to be true. I know people in their 70s that still work and some that retired in their late 50s and their health is going to crap
This so-called problem is nothing new. I quit my position of 17 years and moved to another state when I reached the end of the promotional ladder for what would be at least 10 years. I had 5 promotions over that time, but the next level had people who were only in their mid-50s and not likely to be promoted to Department managers. If you want to get ahead financially any annual increases are not going to do it, you have to be promoted or go elsewhere for higher pay or lower cost of living (or both).
Take a promotion yourself by moving to new companies for more pay and bigger job title.
The norm is people lose jobs in their 40's and 50's and even 60's. Huge unemployment gaps happen and that hurts people's ability to save for retirement. Many even tap their IRA's to make ends meet during this time.
So when they finally get back on their feet the damage is done. And they hold on to those jobs like grim death.
Why retire and die earlier than if you kept working? Studies prove this to be true. I know people in their 70s that still work and some that retired in their late 50s and their health is going to crap
I know people who retired early still alive and well 30 years later. . . don't think that proves anything. Maybe the others retired early because their health was bad.
Hers another reason baby boomers have to still work instead of taking retirement.
That’s the finding of a 2017 2,000-person survey by TD Ameritrade. On average, millennial parents ages 19 to 37 said they received $11,011 in financial support and unpaid labor from their boomer parents, ages 50 to 70. Without that help, many millennials couldn’t support their current lifestyles, the survey found.
I'm 32. My dad helped me move furniture out of my condo that I'm selling. We rented a small U-Haul. With two guys, loading this stuff wasn't a problem, but it would have been tough to do it by myself. It would have probably cost me at least $100 if I had to hire someone to help me.
When I was little until about middle school, both of my parents worked and I often stayed with my grandparents. My grandmother would often make dinner for my parents to take home.
Majority of Americans are broke and can not afford to retire even if they wanted to. Most people never bother to saved or never saved enough. In fact, many people don't even have a six month emergency funds. Living paycheck to paycheck.
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