Any blue collar workers here?

[Winemaker]

Although I had a BS in Mining Engineering and almost an MBA, I chose to be a front line supervisor and a middle manager in the underground coal industry. I spent 30+ years working 10+ hours working underground in several coal mines in WY, WV and PA. You can't get much blue collar than that.
I also worked as a hardware store clerk while in high school and in college, if I wasn't co-opping in a coal mine. No regrets, many rewards.

 

[OneDay]

I am!!! I have been following this forum for many months now. This is my first time posting. I am a 41 y/o server, chiropractic assistant, and landlord. My DH (also landlord)was a restaurant manager, followed by a sales rep/route driver, and finally became self employed when he got tired of making other people look good and stomping out fires. He started doing property maintenance and repair about 5 years ago and has a steady clientele of senior citizens, other landlords, and realtors. During the first couple years of growing his business, I was the main breadwinner. Supporting a family of five, working two serving jobs. We did have our rental properties that helped a little but we're only netting about $8000/yr from those. We bought our first 3 houses CFD from my grandparents about 20 years ago. Those three we paid off 5 years ago. Over the past 15 years we have purchased another four rental properties. We have very little turnover as we keep our rent a little under market, but we don't profit as much as we should. We earn about $70,000 total between the two of us and have a net worth of $631,000. $178,000 from IRA's the rest is real estate. I am trying to come up with an exit plan for my part time chiropractic assistant job. I only bring in $13 an hour and feel I am worth more than that. I need to figure out how I will replace the $1100 a month that I take home from that job. I don't want to go full time serving. I like that job and it pays well, but I don't think I would like it as much if I was there full time. My goal is to be FI in 9 years. Cutting down to one part time job in 6. (Another 3 houses will be paid off then). In any case, you are not the only blue collar following this forum!

well done GenXr.

 

[Choices]

Inspirational, esp. from the Pizza Delivery guy! Makes me feel my kid on the "road less traveled" path may make it! I have always felt that LBYM is THE piece to the puzzle!

 

[OneDay]

I grew up my dad was a construction worker and farmer, my mom was a waitress, they divorced when I was young and both struggled financially. I've worked in the mining industry " briefly ", waiter, washed cars, mowed lawns, got in the service side of the automotive industry, found my calling, my wife retired from Walmart 5 years ago, we will be fire at 50 if we choose, I'm thinking of going part time now, enjoy dealing with cattle these days more than people. So I guess I'm blue collar.

 

[hankster]

I've spent most of my working life in the electric utility industry. In some parts of the country, a craft Journeyman will easily exceed $100k income plus benefits per year. That being said, LBYM is still a huge factor. I've known retirees from the industry who had a seven figure 401k to go along with their DB pension and retiree medical. I've known others who bought all the fun toys, big homes and extravagant vacations without ever saving a dime.

 

[VFK57]

I have an AS degree and worked all my productive life as HVAC / Refrigeration technician. I had very good wages and most companies I worked for provided nice benefits. Since late 1990s a Sr HVAC tech could make over $100K with some overtime. Of course the job requires hard work, physical fitness, frequent night / weekend emergency calls in.

 

[devans0]

I used to be a blue collar worker. Cement, construction, farm worker, factory worker. I went to school to get a computer science degree in time for the tech crash. Wife had a hard time getting into her field, so to keep a stable income, I continued working in the factory. My wife, daughter, and I all graduated the same week.

I had enough saved to be comfortably FI, I quit working a year ago. I initially the first few months taking college classes for fun. Econ, finance, classical style and easy rock guitar, keyboard, and art.

Econ and finance really paid off for investing. Those courses doubled my income. I'm signing up for a Yale online class on Tuesday. No commute.

 

[sengsational]

Having a blue collar job made me motivated to get a degree because the people I worked for were disrespectful and quite dim (in my teen-aged opinion). Then I graduated college, got a job, and worked for megacorp, where the people I worked for were disrespectful and quite dim.

 

[travelover]

...........I got up and left the day the psychology 101 professor told the impressionable minded students that "the problem with America today is the white American male". I stood up and said good bye. ...........

I remember this professor. He was chosen to represent the thinking of all university professors in all universities in the country.

 

[NW-Bound]

This is an interesting thread. I too often feel like I am alone here. Its astonishing how many posters that mention their megacorp (I actually had to look up what a megacorp was when I first started reading post) jobs, huge pensions and post retirement health care. I too often wonder if any one still worked hard physically for a living and retired securely...

I have had nothing but blue collar jobs since I was 12 years old. I got a blue collar education in a skilled trade, did my apprenticeship, got a journeyman then a masters license. I quit my job to go on my own when I was 25 years old. I have been self employed for almost 20 years and have accumulated 2 million in investable assets and a net worth of around 3 million. I guess if I would have been a little smarter and stayed in school I could have got a good job and been successful but this is the path I chose now I have to follow it.

I worked for large and mid-size aerospace corps all my career, but moved around a bit, and then was on my own (with little or no pay) for a while. So no pension, no retirement health care for me.

I admire people who do well financially without the job security and benefits of large employers or the gummint, no matter what they do for a living (as long as it is legal ). As I mentioned, I was trying to be on my own for a while, actually starting a small business with some friends, and we did not make it. So, I know how tough it is. Cubicle dwellers would not know it.

 

[2035]

Hi Gary T,

I don't have a blue collar job, but I'm an administrative assistant (secretary) in California. I just make sure to max out 401(k) and Roth each year. Slow and steady contributions have resulted in $300k since 2003, and include idiotic Roth withdrawals of $13,000 and inconsistent contributions (before 2010).

Your feat is very impressive and you should proud of your accomplishment. It's nice to hear from a fellow working class member.


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[dallas27]

I used to be a blue collar worker. Cement, construction, farm worker, factory worker. I went to school to get a computer science degree in time for the tech crash. Wife had a hard time getting into her field, so to keep a stable income, I continued working in the factory. My wife, daughter, and I all graduated the same week.

I had enough saved to be comfortably FI, I quit working a year ago. I initially the first few months taking college classes for fun. Econ, finance, classical style and easy rock guitar, keyboard, and art.

Econ and finance really paid off for investing. Those courses doubled my income. I'm signing up for a Yale online class on Tuesday. No commute.

I take classes at HES, maybe we should start an online rivalry.


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[BreathFree]

I wear blue coveralls with a healthy slathering of grease or diesel fuel, when my coworkers run into me when I am off work in my "civilian" cloths, they always comment on how good I clean up. They seem genuinely surprised.

I have a high school diploma and no higher formal education. My first ten years of work was all under $25,000. I was barely surviving. I didn't start saving for retirement until I was age 32.

The last ten years I have been fortunate to move up in my industry and make over $100,000. I also have a side gig that produces a little over $100,000. This may all end soon as I may be laid off in November due to the layoffs in oil and gas, and my side gig is affected by this as well.

Fortunately, the first ten years of struggling convinced me to LBYM and save and invest everything. I am now worth a little over 1.4 million and counting.

 

[KmmFIdreamer]

DH and I work in law enforcement - definitely not a high paying megacorp job - but a good career none the less. At least there is a small pension available as young as age 56, but definitely not big enough to live on alone. We own paid off rental property that contributes to income, this is what really allows us to save $$.

I hear my coworkers complain about not being able to afford rent, food, etc. They say they can't save for retirement. I think a lot of them just don't budget right and live way beyond their means....

My 21 year old son is working at a restaurant and still manages to put money into retirement and into his savings at a massive rate - of course it helps that he still lives in the basement and brings home lots of free food to eat!

I think saving rates are more about attitude toward money and spending, rather than a direct result of income amount. If you make 100K a year and spend 110k you are in big trouble pretty quickly - but spending 30K when you make 50K income results in a huge amount of savings that can be invested in something like stocks or real estate - creating even more wealth. Most people just don't get that concept...

 

[krldrummerboy]

I enjoyed reading all the above stories. These experiences are worth telling!

Being a fairly well compensated engineer that started late and worked up from a technician, I will always consider myself blue collar. I hope to never move into management because I love the lab environment and the socialization it offers. Hopefully, I can finish off my career (large semiconductor company) in this roll before commoditization and ageism get the better of me.

I think what aids me most is my ability to work with peers, customers, and management and wearing anyone's hat if needed. Social awareness and experience can be under appreciated and many of the kids I work with lack these skills for a variety of reasons.....many went from HS to college to work and need some self development.... others just have limited social skills due to way too much screen time. When these kids ask about my life experience I always tell them that my time in the military in the 80's and 10 subsequent years as a musician in a SF punk rock band gave me a perspective on corporate life that keeps me sane through my "working" years Some get it and others see it as wasted youth.....

 

[Nemo2]

If you make 100K a year and spend 110k you are in big trouble pretty quickly - but spending 30K when you make 50K income results in a huge amount of savings that can be invested in something like stocks or real estate - creating even more wealth. Most people just don't get that concept...

The Micawber Principle, since 1850. Still going strong.

 

[OneDay]

Although I had a BS in Mining Engineering and almost an MBA, I chose to be a front line supervisor and a middle manager in the underground coal industry. I spent 30+ years working 10+ hours working underground in several coal mines in WY, WV and PA. You can't get much blue collar than that.
I also worked as a hardware store clerk while in high school and in college, if I wasn't co-opping in a coal mine. No regrets, many rewards.

Thanks for keeping the lights on Winemaker. I'm from the coal fields of Western Ky, where many of my friends and family work or have worked in the mines, unfortunately many of them have not prepared for layoffs and a end to mining.

 

[Toocold]

My parents never had professional jobs, doing labor-based work all their lives. They got started mid-40s after they immigrated to the US with no assets and two kids in tow.

After my father recently passed away, I helped my 73 year old mother take an inventory of her assets and put together a financial plan, based on her spending. I was pleasantly surprised to find that they had accumulated almost $1M in assets, making a combined income of ~$40-50k a year, with spending a little less than 16k per year.

Now only if I could convince her to retire and enjoy the fruits of their labor...

 

[aaronc879]

My parents never had professional jobs, doing labor-based work all their lives. They got started mid-40s after they immigrated to the US with no assets and two kids in tow.

After my father recently passed away, I helped my 73 year old mother take an inventory of her assets and put together a financial plan, based on her spending. I was pleasantly surprised to find that they had accumulated almost $1M in assets, making a combined income of ~$40-50k a year, with spending a little less than 16k per year.

Now only if I could convince her to retire and enjoy the fruits of their labor...

So your 73 year old mother is doing a labor based job despite having $1M in assets and SS?

 

[Toocold]

So your 73 year old mother is doing a labor based job despite having $1M in assets and SS?

Yes, and still saving a significant percentage of her income. My sister and I have been nudging her to retire, but she's set in her ways. When my father finally stopped working at the ripe old age of 75 doing maintenance work at a hospital, he passed away a year later. I think this is influencing her thinking.

 

[kcowan]

When my father finally stopped working at the ripe old age of 75 doing maintenance work at a hospital, he passed away a year later. I think this is influencing her thinking.

Yes I retired from megacorp at 49 and a couple of buddies worked until 65 and died at 67.

OTOH my Dad was retired for 30 years and my brother for 28 years.

 

[Toocold]

I'm definitely on the same path as the one you've chosen. But as you can imagine, I get quite the reaction when I tell her about my plans to "retire" before 50. I think when the day comes, I'll just tell her that I'm unsuccessfully pursuing a different profession.

 

[tinlizzy]

I am blue collar and I was a single mother (divorced when my son was 1). I have been a UPS driver for 22 years.

Social Security shows my lifetime of earned income from when I was 16yo until now, at age 49, to be a little shy of $1,300,000. I also received $3000/yr in child support from my blue collar ex-husband for 17 years. I had no savings, no car, and a mortgage with no equity when I got divorced.

I live in an old 1700sq ft house in an older neighborhood in the Midwest that cost $40,000 and has been paid off since I was 32. I do have a new car but I drove the old one for 18yrs. I have traveled quite a bit with my child and I sent him to parochial schools at full tuition and paid for half of his college tuition at a state college (without a scholarship unfortunately).

Thanks to compounding and the fabulous info and encouragement on this site and others I have $860,000 saved for retirement. We do not have a matching 401k but I will have a pension.


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[Nemo2]

I have $860,000 saved for retirement.

Well done!

 

[CDRE]

Having a blue collar job made me motivated to get a degree because the people I worked for were disrespectful and quite dim (in my teen-aged opinion). Then I graduated college, got a job, and worked for megacorp, where the people I worked for were disrespectful and quite dim.

+1