threeonesix
Recycles dryer sheets
If you're a poor performer, and well paid, you're asking for trouble at any age.
What if one is a top performer but paid like an intern? Asking for a friend
If you're a poor performer, and well paid, you're asking for trouble at any age.
That's how I always felt about selling vested stock options. I had lots of friends who's plan was to just hold them until their expired. But if you were let go, you only had 90 days to exercise the options.
I'd often remind them that the company may choose to let them go at a time when the stock was down,
Sadly, that happened to a bunch of people.
I will say healthcare doesn't seem to have any age bias issues. I see so many people in their 60s and 70s working in all aspects of care: physicians, nurses, PT/OTs, techs, pharmacists, certified aides, insurance billing, claims, office receptionists, and pretty much every other discipline in healthcare- they're in doctor's offices, hospitals, clinics...long term care facilities...you name it.
It might be oversimplified, but generally, if you're a highly compensated employee aged fifty-five or older, already at the peak of your pay scale without prospects for promotion, you might find yourself in a vulnerable position with a target on your back. I saw it for the better part of thirty years working for mega corp. and unfortunately that is the reality pretty much across the board. This alone was the main driver for my goal of reaching FIRE at age fifty-four.
Sad stories, especially that poor lady attacked by her boyfriend! So sad
What if one is a top performer but paid like an intern? Asking for a friend
I volunteered for a RIF at 55. Would have been laid off before 60. Looked for work for 15 months to no avail, but then calculated we can retire.
Been 7 years and have not looked back.
Yup! I had a stellar resume and industry-wide name recognition. After becoming redundant after the sale of the company I couldn't get arrested at age 52. The unspoken position was that I was just some rich guy who only wanted to take clients golfing and do little else for the next ten years.
Ageism is very real and I think everyone should plan on an age 55 retirement instead of 65. If you make it past 55 it's all gravy.
I agree. I was passed over for raises my last 2 years at my company. In the 20 years I had been there, I lost track of how many company presidents we had.
But health can literally change in an instant with devastating consequences.
I probably sound way too judgemental - illness and other misfortunes are unfair, tragic and life-shattering. But I genuinely don't understand how the ones who earned really GOOD money - far more than I ever did - aren't compelled to put much, if anything, away for a rainy day - while they blithely buy second houses!
I'd make darn sure I had a healthy retirement account before I ever thought about a 2nd house!
I probably sound way too judgemental - illness and other misfortunes are unfair, tragic and life-shattering. But I genuinely don't understand how the ones who earned really GOOD money - far more than I ever did - aren't compelled to put much, if anything, away for a rainy day - while they blithely buy second houses!
I'd make darn sure I had a healthy retirement account before I ever thought about a 2nd house!
Disability insurance was something our company provided as a benefit.