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**a64pilot** · 07-10-2015, 13:29

Quote:

Originally Posted by zboss

40% is a lot!

It is, it's the highest I have heard of, and I sit these folks down and explain to them that for every 10 bucks they pitch in , the company adds 4, and if they later quit, they get to take all 14 with them, it's free money, but they want their new cars now, they don't care about later.

Course the car I drive to work is 18 years old

Capt Phil · 07-10-2015, 13:46

There was one couple I ran into in Cabo about 20 years ago just when the .com boom was taking off. They had both quit lucrative jobs in Silicone Valley, sold their cars, condo and furniture and were cruising the Sea of Cortez for as long as their money held out. He periodically would fly stateside to work a month or two while she did boat maintenance. She could tear down a marine diesel in an afternoon, diagnose the problem and have it running again by the next afternoon if she had the parts! Very bright and capable young lady. Name of their boat was 'Dessert First'!
I was on a third lifetime career at that point and wished I had done what they did! Phil

FamilyVan · 07-10-2015, 13:59

Quote:

Originally Posted by alctel

Anyone in their 30s right now probably isn't getting any kind of pension anyway when they get older

Coming from Victoria BC? A government town? I would think most people in their 30's would have a pension in Victoria. I'm in my thirties in Ottawa and I don't know a single couple where at least one of them doesn't have a pension.

My wife and I both contribute to a pension (me government, her an airline). Even when I took a break from the government, the two private companies I worked for had RRSP matching programs.

The pensions are out there, you just have to seek them out.

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zboss · 07-10-2015, 14:04

Quote:

Originally Posted by FamilyVan

Coming from Victoria BC? A government town? I would think most people in their 30's would have a pension in Victoria. I'm in my thirties in Ottawa and I don't know a single couple where at least one of them doesn't have a pension.

My wife and I both contribute to a pension (me government, her an airline). Even when I took a break from the government, the two private companies I worked for had RRSP matching programs.

The pensions are out there, you just have to seek them out.

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Pensions in the USA for people that have worked for a company for 20-40 years are long gone in favor of golden parachutes for execs!

Saltyhog · 07-10-2015, 14:05

Quote:

Originally Posted by a64pilot

It is, it's the highest I have heard of, and I sit these folks down and explain to them that for every 10 bucks they pitch in , the company adds 4, and if they later quit, they get to take all 14 with them, it's free money, but they want their new cars now, they don't care about later.

Course the car I drive to work is 18 years old

At a previous job, I had a boss who was the owner of the company. He absolutely loved it when he saw employees taking big loans to buy new cars and houses. He knew he could squeeze those guys for more work and free overtime and he would would do it regularly, especially during economic downturns when he knew guys were less likely to look elsewhere. He used to say, and I quote: "Once you're in debt, I've got you by the short hairs!" But those guys would continue to borrow their way into debtors prison.

bsurvey · 08-10-2015, 09:19

always received a raise because I was good at what I do and could go elsewhere for more money.

I am almost 70 and when I leave for work now its at a thousand dollars a day

davewtsnape · 08-10-2015, 09:29

I got raises all the way up to my fifties when I got made redundant :-) Since then my jobs have been shorter term but not badly paid. I guess the key is to live within your means and don't be afraid of contract and part time work. Work Life balance is real and important.

**Roy M** · 08-10-2015, 09:31

Whatever you make and whatever you spend, just don't be frugal with your boat. It's your real ticket to a better life.

Dave22q · 08-10-2015, 09:43

Raises will get harder when you are significantly older then your boss if you do not have unique skills. In my experience the health of the company is a more critical factor. One of the first things to get trimmed in hard times is the salary budget.

jreiter190 · 08-10-2015, 09:45

When they retire?

Boatguy30 · 08-10-2015, 10:39

Quote:

Originally Posted by a64pilot

It is, it's the highest I have heard of, and I sit these folks down and explain to them that for every 10 bucks they pitch in , the company adds 4, and if they later quit, they get to take all 14 with them, it's free money, but they want their new cars now, they don't care about later.

Course the car I drive to work is 18 years old

The problem with your logic is lots of people have jobs building cars. 401K funds own lots of stock in companies making cars and Chinese toys with LCD screen. The companies need to sell their products to someone. Henry Ford had a good handle on this I'm not sure CEOs today do.

zboss · 08-10-2015, 11:17

Quote:

Originally Posted by Boatguy30

The problem with your logic is lots of people have jobs building cars. 401K funds own lots of stock in companies making cars and Chinese toys with LCD screen. The companies need to sell their products to someone. Henry Ford had a good handle on this I'm not sure CEOs today do.

It's not a logic problem it's simply a description of a road less travelled. He is just saying that the workers have a very short-term outlook and like most of us American's we want immediate gratification. For most US citizens, saving up cash is not fun or gratifying. It's boring.

If that guy takes that $10 and puts it into a Roth IRA or a 401K it will eventually get spent... just not right now.

In the meantime that money gets invested into a company that makes those cars or those toys, which helps generate income for a lot of folks.

It's a sad fact that in 2013 the average amount a 70 YO had in savings was only 150K. Probably that 70 year old also has a pension from an employer. However the average 50 year old, who probably does NOT have a pension, has only 87K saved up.

The best thing the government did for the generation just entering the market is force companies to auto enroll new employees in 401K plans.

Don1500 · 08-10-2015, 13:21

I received raises up until I said, "Take this job and shove it, I'm going to be a pirate on the ICW, Bye!"

rosatte · 08-10-2015, 16:08

Scotch don.t forget a good 18yr old scotch

**a64pilot** · 08-10-2015, 16:46

Reference on savings, these numbers seem to differ quite a lot and it appears that Joe average owes more than they are worth, but this isn't a breakdown by age, it's just an average and I have no idea as to the accuracy of the numbers. Some seem fishy, like percentage of adults with no bank account?
http://www.statisticbrain.com/americ...al-statistics/

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