Was reading my wife's Money magazine yesterday, and even I was surprised by the tone of many of the articles ... referencing the loss of high-paying jobs, terrible job market, high use of credit, etc. And considering my own experiences in the last few years ... much longer hours on the job, job market flooded with talented managers, low prices for goods but less income with which to buy, lower compensation plans (by 20 to 30%), clearly a buyers market for human capital, etc. When I hire financial managers / Controllers now, they are often taking pay cuts of $25K and up. I sadly see too many guys and gals in their 50's that might have worked at a company for 20 to 30 years, and now are trying to survive on accounting temp work.
And, even for myself, we are technically well off, but not truly ER candidates right now (age 52). Still have a young one to get through school and college. Will likely work until we reach SS age ... at least 62.
So, my question ... frankly, how many of you are concerned about the economic future? How many are still working and saving, and hoping they can hold on to good jobs long enough to support their family and build a small nest egg? How many don't want to figure SS into your retirement income plans, but have concern about the income picture without that factor? How are you dealing with this situation, financially and mentally? Or, is any such concern overblown from your perspective?
Thanks.
And, even for myself, we are technically well off, but not truly ER candidates right now (age 52). Still have a young one to get through school and college. Will likely work until we reach SS age ... at least 62.
So, my question ... frankly, how many of you are concerned about the economic future? How many are still working and saving, and hoping they can hold on to good jobs long enough to support their family and build a small nest egg? How many don't want to figure SS into your retirement income plans, but have concern about the income picture without that factor? How are you dealing with this situation, financially and mentally? Or, is any such concern overblown from your perspective?
Thanks.