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Old 07-10-2015, 07:26   #1
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At What Age Do Workers Stop Getting Raises

I found this article in The Atlantic. I figured that it was somewhat related to the "how much does it cost to cruise" and "how to afford cruising". Anyhow, it's an interesting take on the importance of being frugal in your 40's and onwards because you are done getting raises.

So, if you are in your 40's maybe making a move onto a boat and learning to be frugal is the right thing to do.


At What Age Do Workers Stop Getting Raises? - The Atlantic
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Old 07-10-2015, 08:19   #2
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Re: At What Age Do Workers Stop Getting Raises

i received raises thruout my career. even once i was at top of field, i received fixed increases yearly.
even ssdi is supposed to be granted yearly increases due to inflation, which current regime denies exists due to their re arranging definition of inflation, which is a joke,as inlflaton continues rabidly in usa
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Old 07-10-2015, 08:48   #3
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Re: At What Age Do Workers Stop Getting Raises

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i received raises thruout my career. even once i was at top of field, i received fixed increases yearly.
even ssdi is supposed to be granted yearly increases due to inflation, which current regime denies exists due to their re arranging definition of inflation, which is a joke,as inlflaton continues rabidly in usa
Yeah, the article implies that at the top of your career if you are in the top 10% of earners for your field that you could continue to receive raises.

However, there is a big difference between a raise to compensate for inflation and merit/promotion raise.

The lesson is really for those in their 30's that want to go cruising - when planning on going cruising does waiting until your 50's or 60's pay off? How do I plan for cruising in my late 40's knowing that a good career may stagnate pay-wise? Based on this information, how do I plan on being frugal in my early 40's so I can plan on cruising in my late 40's and 50's?
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Old 07-10-2015, 08:54   #4
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Re: At What Age Do Workers Stop Getting Raises

I'm thinking she means collective bargaining guaranteed raises.

Hard to complain about indexing of "disability" payment when you're relatively healthy kicking back in Mexico isn't it?
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Old 07-10-2015, 09:03   #5
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Re: At What Age Do Workers Stop Getting Raises

On a personal note, my peak earnings to date were when I was about 22. but that's why I built my last boat instead of buying a $150,000 dollar one and why I moved into a much cheaper house last year and put more money into rental props.

Unfortunately, if I did actually become disabled I would largely have to rely on my investment income as my SSDI would be quite low based on my earnings history.
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Old 07-10-2015, 09:21   #6
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Re: At What Age Do Workers Stop Getting Raises

how to plan on being frugal later?? practice it now.
dont buy crap you dont need, live on only a small part of your income, avoid unnecesary expenses and live cheap .
make your own foodstuffs, avoid plastic wrapped items , as thos e are pricier than unwrapped stuff, and watch your outgo of money carefully. is easy. half the crap folks buy is not necessary for survival.
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Old 07-10-2015, 09:24   #7
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Re: At What Age Do Workers Stop Getting Raises

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avoid plastic wrapped items
Except tastycakes. I love tastycakes.
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Old 07-10-2015, 09:44   #8
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Re: At What Age Do Workers Stop Getting Raises

Anyone in their 30s right now probably isn't getting any kind of pension anyway when they get older
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Old 07-10-2015, 10:05   #9
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Re: At What Age Do Workers Stop Getting Raises

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Anyone in their 30s right now probably isn't getting any kind of pension anyway when they get older
No, but they will probably get social security and they should have a 401K in place. Then they need to think about homes, cars, kids education, etc. etc.

If they didn't do this type of planning in their 20's they certainly should be thinking about this type of planning in their 30's if they hope to be cruising in their 40's.
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Old 07-10-2015, 10:10   #10
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pirate Re: At What Age Do Workers Stop Getting Raises

When the Bladder Problems start...


But seriously.. I've not raised my wage in the 10yrs I've been doing deliveries.. every time I do.. I don't get the work
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Old 07-10-2015, 10:22   #11
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Re: At What Age Do Workers Stop Getting Raises

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...inlflaton continues rabidly in usa
Rabidly!?! That's a rather over-the-top exaggeration.

Yes, the official numbers have been diddled with and tend to make it look like less inflation than the average person actually experiences. Still, compared to the double-digit inflation of the late 70s, what we're experiencing right now in the United States is hardly anything at all. Indeed, even if you take the most extreme numbers available right now for inflation, ours is still way less than a whole lot of other countries, and is still a fraction of what it was 40 years ago.

So, inflation continues. Yes. Rabidly? Not even close.
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Old 07-10-2015, 11:22   #12
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Re: At What Age Do Workers Stop Getting Raises

Wages go UP in some fields and plummet DOWN in others, regardless of how old you are. So if your own wages are filling behind...that's a comment on you or your boss. If wages in YOUR FIELD have stopped rising, that's a sign that it is time to find something else to do.
The global village, the growth or dearth of talent pools, tax and employment regulations refocusing how companies hire....Just read the news to see how many executives in the 60's and 70's get hundreds of millions in annual bonuses, more every year.
It is what you are doing and how you are doing it that changes what you are getting paid. Not "just" how old you are.
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Old 07-10-2015, 12:18   #13
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Re: At What Age Do Workers Stop Getting Raises

It's really sort of irrelevant on raises, if your making much more money than minimum wage, you can save some, but it seems to go against some peoples nature to save.

Here at my work we get a bonus usually every year, amounts to about a months pay, we get it at Feb 15th. I have tried my best to get the hourly workers here to participate in the 401K, which is matched 40%, I always hear they can't afford it, yet when bonus time and tax return comes around the parking lot is full of new cars and cars with new wheels etc.

Their tax return and the bonus alone would make a big contribution to their 401K, plus the Boss kicks in 40%. Now who wouldn't do that? You would be amazed, the majority won't.
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Old 07-10-2015, 12:38   #14
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Re: At What Age Do Workers Stop Getting Raises

I do get a raise whenever I ask for one. Now I must admit I only ask for one when my prices (mostly my fuel costs, i.e. food ;-) go up significantly. So over last 5 years I did not get any ;-)

I think being frugal is OK, but it is a better technique to master making more money up first. If you find you have too much, simply share the excess with others, or buy another boat.

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Old 07-10-2015, 13:04   #15
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Re: At What Age Do Workers Stop Getting Raises

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Originally Posted by a64pilot View Post
It's really sort of irrelevant on raises, if your making much more money than minimum wage, you can save some, but it seems to go against some peoples nature to save.

Here at my work we get a bonus usually every year, amounts to about a months pay, we get it at Feb 15th. I have tried my best to get the hourly workers here to participate in the 401K, which is matched 40%, I always hear they can't afford it, yet when bonus time and tax return comes around the parking lot is full of new cars and cars with new wheels etc.

Their tax return and the bonus alone would make a big contribution to their 401K, plus the Boss kicks in 40%. Now who wouldn't do that? You would be amazed, the majority won't.
40% is a lot!
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