Audio Asylum Thread Printer
Get a view of an entire thread on one page
|For Sale Ads|
In Reply to: RE: I was at unemployment office yesterday posted by bullethead on July 08, 2017 at 18:04:10
I worked for 45 years and never got unemployment even a few times when I wasn't employed.
Once I wasn't eligible for two years due to being laid off with a severance package that the company paid out in two years vs. a lump sum. I wasn't eligible for two years, so I obviously went back to work in a few weeks. That company folded a year later, and I was unemployed again. I still wasn't eligible because of the two year severance package, so I found work again.
The last time I got laid off, I was 68 and decided that I didn't want to go to the trouble of looking for work and decided that I was "retired".
Bullethead quit his job because he was fed up with it. I'm pretty sure that he doesn't legally qualify for unemployment. If he does, it's tricking wrong imo.
It is not a lot of money really, no one can live on this, I could barely get by before on $92K a year with all the expenses and taxes. If I didn't have money saved I wouldn't have any option because it has been 3 months and not one bite. I am over qualified for everything, plus I am 40 years old. Who wants a 40 year old with a masters when you can have two 25 years olds with PHDs for the same price?
the first time. The company laid off everyone over 50. I ended up working another 16 years. You are hardly washed up at 40. You have more experience and should know things 20 year olds don't that would make you more valuable to the right employer.
I had to take a lower paying job when I left my first employer, but eventually worked my way up to really good pay ( over 6 figures). Unless you are a big name CEO type, you may have to work your way up again. You probably shouldn't have quit your job until you had another lined up. It is easier to get a job when you are employed than unemployed.
We can retire on our 401k and other investments, sort of, plus I'm fortunate that my wife gets a decent pension from her decades as a public school teacher.
However, we would have to cut back significantly and be much more aware of our expenses and discretionary spending. I'm 58 1/2. Kind of weird that my blue-collar Dad was able to retire comfortably at 55 with his military retirement combined with his civil service retirement. He wasn't so dumb after all. Here I am still needing to work!
The one huge eye opener for me is the cost of good health care insurance. Notice I said "good".... not some junk plan that barely passes as worth while.
I have friends younger than 65 years old who are paying $1900/mo for two people in order to have the same level of good coverage that their employers once subsidized.
That's not chump change! To me that would be our biggest expense if retiring pre-65. Our mortgage payment (PITI included) isn't even that much, and it will be paid off in 8 years or sooner, much sooner if we chose to divert cash into paying it off. We have no other debt. Cars are paid for. It's health insurance costs that have me concerned most with retiring pre-65.
I recommend maximizing SS at least to 66 before taking that. The difference can be significant. I am retired at 68 only because I ran out of work. My wife is still working, but is 7 years younger and wanting to hang it up. I keep encouraging her to keep working to maximize her SS and pension.
I have a significant 401K, but like SS, pensions and everything else, I am holding off any withdrawals until I am 70.5 and have to.
I was lucky to retire from one company I worked for for 30 years. I have medical and dental through that unless I ever let it go. That has worked so far. At 65, you have no choice but to go on Medicare. I pay for both Medicare and insurance for my wife which is taken out of my pension. When she is 65 and has to go on Medicare, we may have to reevaluate our insurance situation.
My first few years on Medicare, I was still working. They made me pay extra (about 50%) because of our income. I still had to pay the same premium for my wife as before. For two years I paid more for Medicare and insurance than before I was 65. Thankfully, congress passed legislation to stop Medicare from upping our premium due to our income. What kind of retirement deal is that? You get on Medicaid and pay more than before you were on it.
That's water under the bridge at this point.
The scary part about retirement to me is inflation. I watched my dad retire early and get poorer and poorer due to inflation. I'm trying not to be in that boat, but once you hang it up, who knows what inflation or the stock market will do?
thanks a lot for sharing, I'll be ok.
I don't mind working my way up at all, definitely in another field because that other one almost killed me.
I've seen some friends retire at 34, I mean retire. Stacked cash and called it quits, you don't have to keep working if your frugal.
I've worked in Vermont for over 25 years and it is the rule here.
That's what my brother's in laws were telling me.
I'm still a little bothered by this, and that attitude. It somewhat reduces incentive to really pound the pavement.
However it is good to know it is there. The woman gave me a project hospitality contact info too, if it gets really bad. There's definitely a thin line one has to walk on a tightrope to avoid homelessness.
When everything seems fine, there could be always something to mess it up. I think that is murphys law.
met a girl a while back and she told me she was enrolled in clinical studies that paid her $8K to participate. I asked her what was the nature of the study and she said it was for treatment of schizophrenia (red flag!). Participants aren't told whether they're getting the actual medication or a placebo (sugar pill). Of course this is an extreme example; just one of many; google 'paid medical trials ' for more info.
I've been on unemployed message boards reading some horror stories.
A couple of winters ago, a guy couldn't pay his heat, he was asking for freezing to death and said he hopes he doesn't wake up. Another one I read were selling their plasma to get by.
I guess modern day ways to make money are to become lab rats, hope one can survive to earn money after taking those experimental drugs. I believe they do make you sign a waiver that they are not responsible for ill effect.
I have lots of options should things go south, self immolation in front of City Hall is one. A new found life of drug cartel member is another. I may or may not be joking :)
Post a Message!
This post is made possible by the generous support of people like you and our sponsors: