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Old 07-24-2014, 02:01 PM   #21
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But even in cushy white collar jobs, your health can fail, you can get downsized out of a job, and so on. And there's no guarantee that someone is going to want to hire you as you get older.
+1!
Couldnt agree more! My goal is to solve the financial independance issue, and if i decide to continue to work its a personal choice and not a necessity. At age 30, I realized that older people around me were constantly being ousted. This made me realize, I better get my ducks in a row, so when it happens to me, I leave with a big grin.
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Old 07-26-2014, 11:16 AM   #22
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I don't personally care for Mr. Slim's plan. It could be good for some workers,those who don't do back breaking work.For those workers who do hard labor they better be saving every penny they can because the years go by so fast .It would be a bummer to wake up one day and realize you can't work anymore but you are not financially able to quit.There's a Clock in England somewhere and it has the chilling words:It's later than you think.
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Old 07-26-2014, 05:07 PM   #23
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IIt would be a bummer to wake up one day and realize you can't work anymore but you are not financially able to quit.
That is what is probably going to happen to one BIL. He readily admits that he HAS to work until he is 66 but his job is physically demanding. I hope he makes it.

He's the one married to the one that I've referred to as "Spendarina".
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Old 07-26-2014, 06:32 PM   #24
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Let's face it. Most companies really don't value older employees all that much. I see coworkers virtually shunned from involment in new projects and put through hell. Fortunately I created a niche and am not involved in this BS. However if I weren't FI I would be nervous. Instead I'm the guy with the go ahead and make my day attitude. I would hate to depend on working longer as a retirement strategy.
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Old 07-27-2014, 09:22 AM   #25
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I don't know. Sounds dangerously close to "class envy".
Not at all, I am in the desk job, highly compensated class.(RE at 54) If you don't have family members who worked labor jobs, you can be unaware of how hard some of these jobs are on your body over time.

It's unrealistic to suggest they work another 5 or 10 years. I was just talking to my first husband on the phone the other day - he is a painting contractor. He is 64, broke his hip falling off ladder. He did not break anything until the last few years and has now broken ankle, femur, hip in separate incidents. He needs to stop working.
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Old 07-27-2014, 11:29 AM   #26
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I don't know. Sounds dangerously close to "class envy".

=------------------------------------------
Not at all, I am in the desk job, highly compensated class.(RE at 54) If you don't have family members who worked labor jobs, you can be unaware of how hard some of these jobs are on your body over time.

It's unrealistic to suggest they work another 5 or 10 years. I was just talking to my first husband on the phone the other day - he is a painting contractor. He is 64, broke his hip falling off ladder. He did not break anything until the last few years and has now broken ankle, femur, hip in separate incidents. He needs to stop working.
Hey, I'm with you. I was being tongue-in-cheek. A few yrs ago there was a debate going about this same subject probably with regards to raising the Social Security age. One observation was that almost all of the extended life years of the past several yrs had gone to the top 2% or top 5% of wage earners. Someone made the statement that we were telling the janitor he can't retire because lawyers are living longer
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Old 07-27-2014, 12:19 PM   #27
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I think the whole "3 days not 5" concept misses the point that no one I know walks out of the office and just switches work off. From a stress perspective, work in a knowledge job is always with you. You're always chewing on something. Maybe with 2 more days off you'd chew less and bike more...but in reality I think the stress would still be there.

In any event, the super-rich May be smart and sympathetic, but they really don't have a clue about a day-in-the-life of people who have to make real economic decisions. I'm not super-rich but I would readily admit that I haven't made a hard economic decision in years. I've made important and thoughtful ones, but none of the hard "visit Mom for Xmas or pay student debt" type decisions I used to.
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Old 07-27-2014, 12:44 PM   #28
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Hey, I'm with you. I was being tongue-in-cheek. A few yrs ago there was a debate going about this same subject probably with regards to raising the Social Security age. One observation was that almost all of the extended life years of the past several yrs had gone to the top 2% or top 5% of wage earners. Someone made the statement that we were telling the janitor he can't retire because lawyers are living longer
Ah, thanks. :-) Yes the gains in life expectancy are for those who make the most money. I think it's smart the way SS is set up - you take it early, you get less money. I think for many people who may not live much beyond 70, it makes sense to take it early. I think my dad is the one who has lived the longest, he is 81 next month. He had about 20 years of labor, the rest was desk job.
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Old 07-27-2014, 01:40 PM   #29
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Ah, thanks. :-) Yes the gains in life expectancy are for those who make the most money. I think it's smart the way SS is set up - you take it early, you get less money. I think for many people who may not live much beyond 70, it makes sense to take it early. I think my dad is the one who has lived the longest, he is 81 next month. He had about 20 years of labor, the rest was desk job.
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Not at all, I am in the desk job, highly compensated class.(RE at 54)
Now that you're hip, harkening back, I was going to say "In this case you're a Class Traitor". ;-)
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Old 07-27-2014, 01:47 PM   #30
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In any event, the super-rich May be smart and sympathetic, but they really don't have a clue about a day-in-the-life of people who have to make real economic decisions. I'm not super-rich but I would readily admit that I haven't made a hard economic decision in years. I've made important and thoughtful ones, but none of the hard "visit Mom for Xmas or pay student debt" type decisions I used to.
From all my readings on economics right and Left this point seems to be always overlooked. The Rich are credited with some sort of knowledge about money and finance but the fact is they don't need to consider these things very much. Their wealth and standard of living are never at stake either long term or short term.

Sure, poor people aren't necessarily financial experts either. Ralph Kramden comes to mind. Give him 5 bucks and he'll spend 10 and come crying that he doesn't know where the money goes. But they are not definitive any more than The Rich are. Most people actually have to know and consider finances at nearly every moment throughout most of their lives. At least until they've "made it". Like you said, the more money I have the less I am impacted by economics.

People who can't be adversely impacted by their economic decisions because "there's always more where that came from" aren't really making economic decisions
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Old 07-27-2014, 08:02 PM   #31
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He's not even a US citizen so what he says has no credence to me.


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Old 07-27-2014, 08:54 PM   #32
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He's not even a US citizen so what he says has no credence to me.


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Ummmmm. Not sure if US citizens have a monopoly on credence.
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Old 07-27-2014, 10:37 PM   #33
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Ummmmm. Not sure if US citizens have a monopoly on credence.
They do in Clearwater, but only during the revival.
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Old 07-27-2014, 10:37 PM   #34
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Ummmmm. Not sure if US citizens have a monopoly on credence.
They do in Clearwater, especially during the revival.
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Old 07-28-2014, 06:47 AM   #35
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They do in Clearwater, especially during the revival.
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Old 07-28-2014, 07:52 AM   #36
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I prefer working 3 days a week AND retire early.
That's what I did for a while. After 16 years of working full-time, I switched to working part-itme. 20 hours per week. That began as a mostly telecommute deal where I'd report to the office one day a week (about 6.5 hours) and work from home for 13.5 hours spread out over the rest of the week. After 27 months of that, the company ended its open-ended telecommuting so I had to report to the office to fulfill my 20 hours which I did by coming in 3 days a week.

After 3.5 years of that, the 3-day week was too much, mainly because of the commute I so despised being forced back into after the telecommuting ended. So I switched to 2 days a week, or 12 hours per week total.

My ER plan was taking shape in the (last) 17 months I worked 12 hours per week. One all the pieces fell into place, I retired.

Now here is where I agree with the author of the linked article, at least in part:

Working part-time for those ~7 years enabled me to stick around longer with the company compared to if I had to work full-time which had already burnt me out after the first 16 years. I was miserable after 16 years, especially with the commute which was worsened when my company relocated and made a barely tolerable commute into one I could not tolerate on a full-time basis. And sticking around longer enabled me to retain one key benefit - the exploding value of my company stock.

Had I worked full-time but for less than the 7 years I worked part-time, the extra money I made in wages, bonuses, company match dollars, and company stock allocations would have been at least partly offset by the lower company stock price my extra shares would have been worth once I left the company before those 7 years took place. For example, the company stock price doubled in my last 3 years of working, even part-time. There is no way I would have twice the number of shares of company stock had I kept working full-time. I never ran all the numbers comparing these two options but a rough guess is I would have about broken even on the money side If I left 3 years earlier but worked full-time for 4 more years - 4 more MISERABLE years.

So, spreading out what dwindling willingness I had to work over 7 part-tiome years instead of 3 or 4 full-time years turned out to be a good move.
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Old 07-28-2014, 07:52 AM   #37
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They do in Clearwater, especially during the revival.
That took me a few seconds to sink in, because my Dad lived in Clearwater, Florida for awhile...
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Old 08-02-2014, 01:14 AM   #38
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I am going to work longer...at tying flies, painting duck decoys, parking my RV...


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