Being in my 20's, I know most of you will say it is too early to think long term, but I do see a pattern in the economy that seems a bit of a concern.
Right now, economy is in the pits, sure it will rise but after a while it will fall. It is impossible for the average Joe to retire and live the same lifestyle if it goes like this:
1)employment
2)salary cut
3)lay off
4)minimum wage labour until you find better job.
5)For some people they might have to pull money from their life savings(the money that you should not touch until retirement), thus completely destroying the goal for financial independence.
6)get better job
7) a raise
8) BACK TO NUMBER 2 and all back to square one.
There is also a chance that you might have to go back to school to get ANOTHER degree, so more tuition and multiple degrees, and thousands of dollars of debt just to keep up with society's changing needs. Today they will ask for a computer engineer, but tommorrow they may need an accountant, then tomorrow..... well you get the idea.
Job security is a joke. Whoever gets paid 20-30 bucks an hour will soon find themselves singing a different tune when the economy hits rock bottom again. If lucky the rich dude may still have a chance to keep his job, but only so few people can sucessfully brag their boss to keep them. So back to the cheese factory working for 10 bucks an hour until you find a better job.
If you calculate long term average income. It is usually lower than it is. Income flutuates just like the gas prices at your local gas pump.
I guess by the time a person retire we might be broke because there will not be sufficent cash flow. The sudden change in lifestyle after retirement is almost like a request for them to kill themself.
Financial independence is a near impossible task is it?? And companies are so adamant in keeping retirees away regardless of the skill and experience they have. From the way companies reject retired people, it sounds like it is almost a crime to continue working. Is financial independence a joke to begin with?? an anti suicide tactic used by doctors?? how can you achieve the impossible when you can't??
Your opinion??
Right now, economy is in the pits, sure it will rise but after a while it will fall. It is impossible for the average Joe to retire and live the same lifestyle if it goes like this:
1)employment
2)salary cut
3)lay off
4)minimum wage labour until you find better job.
5)For some people they might have to pull money from their life savings(the money that you should not touch until retirement), thus completely destroying the goal for financial independence.
6)get better job
7) a raise
8) BACK TO NUMBER 2 and all back to square one.
There is also a chance that you might have to go back to school to get ANOTHER degree, so more tuition and multiple degrees, and thousands of dollars of debt just to keep up with society's changing needs. Today they will ask for a computer engineer, but tommorrow they may need an accountant, then tomorrow..... well you get the idea.
Job security is a joke. Whoever gets paid 20-30 bucks an hour will soon find themselves singing a different tune when the economy hits rock bottom again. If lucky the rich dude may still have a chance to keep his job, but only so few people can sucessfully brag their boss to keep them. So back to the cheese factory working for 10 bucks an hour until you find a better job.
If you calculate long term average income. It is usually lower than it is. Income flutuates just like the gas prices at your local gas pump.
I guess by the time a person retire we might be broke because there will not be sufficent cash flow. The sudden change in lifestyle after retirement is almost like a request for them to kill themself.
Financial independence is a near impossible task is it?? And companies are so adamant in keeping retirees away regardless of the skill and experience they have. From the way companies reject retired people, it sounds like it is almost a crime to continue working. Is financial independence a joke to begin with?? an anti suicide tactic used by doctors?? how can you achieve the impossible when you can't??
Your opinion??
