Posted on 12/30/2018 6:14:10 AM PST by Galatians328
A new data analysis by ProPublica and the Urban Institute shows more than half of older U.S. workers are pushed out of longtime jobs before they choose to retire, suffering financial damage that is often irreversible.
(Excerpt) Read more at propublica.org ...
I pay a monthly premium of around $450 for just me. That monthly contribution goes into a pot and others bills are paid out of that pot. My deductible is $10,000 a year which is fine as I’m in good health. My IPad made a typo, it’s Medishare.com.
Those worthless MBAs ain’t only from Harvard, but I LOVE ‘EM anyway!
They convinced NYNEX that the reason the company was doing so poorly was all us 50+ year old workers....so they made us an offer I couldn’t refuse...and I didn’t.
Of course this solved all the company’s problems so well that before it came time for me to leave, NYNEX was bought out by Bell Atlantic, the MBAs were all out of jobs and BA was making additional offers to stay for a few more years to those of us ready to leave.
I got to retire at 54 and was able to assist in taking care of my folks for their last two years.
More likely because companies are willing to hire much lower-paid substitute workers in India or China. They typically are “book smart” with advanced degrees but lack real-world experience, customer knowledge, and in most cases, basic common sense. Yet they can be hired at the rate of two or three per one senior US salary and the company can crow about being global and diverse and all that garbage.
Particularly in public companies under pressure to show quartly improvements to investors. Stealing from the future. .
It is going to happen, so plan for it.
“Medical is the hitch.”
I had already retired when Obola f*cked up healthcare enough to cause my Medicare Advantage provider to cancel my policy.
My wife was insured through AARP, and we hated the fact that we contributed a damned nickel to those liberal bastards, so we turned to AMAC ( the Conservative alternative to AARP)
We worked through one of their insurance people ( she did a stellar job) and we ended up with identical Medicare Plan F (the best) policies through Aetna. No deductibles, and no referral crap. They started out back in 2007 at less than $200/month for each of them. I think now they are around $250.
My wife has had open-heart surgery and three major back surgeries and we haven’t had to put up a dime our of our own pockets!. l Can’t say enough good things about AMAC and Aetna.
I've grown to appreciate being able to work....part time....I see it as a win/win situation...
financial security....socialization....keeping physically able to do things...
Ivey League delenda est.
My grandfather advised exactly that, and no wonder, since his name was Van Gogh.
..... If you ain’t the lead dog the view never changes yet theres always somebody on your ass 24 / 7 even then.
The real solution to this problem is to get rid of seniority based pay and COLAs. Most of us plateau at some point in our careers. Then we just get more and more expensive each year. Some of us stay sharp and competitive, others get stale and slow down a bit, and experience counts for something. But are we really twice as good at age 60 as that eager beaver 30 year old? Probably not — and the 30 year old is the future while we’re planning our retirements.
“NYNEX was bought out by Bell Atlantic”
Ah yes, the old RBOC Lambada brought to you by Judge Harold Greene. He cut the RBOCS loose from AT&T and it’s taken 30 years for Ma Bell to put herself back together again. The “winner” being Southwest Bell who has ended up “buying back” AT&T. Sorry The New AT&T.
I got the boot when I was 53. Fortunately, the Lord blessed me with an even better job and I am now 56.
I was laid off at 51 after 22 years. It took 5 1/2 years to find a permanent job. I survived on savings and a couple of temporary gigs. There were long periods of off time between gigs, so it was good that I squirreled away cash during that time of working.
My new job pays more than what I had before. I can’t help but feel it’s not more than a temporary job with benefits though. I’m not very hopeful it will last until I reach full retirement.
I was blessed. Had a devastating health issue when I was 63, but my “O” went above and beyond FMLA regulations and allowed me to return to work with lower performance expectations. With the kindness of my boss and with my coworkers carrying me across the finish line, I was able to retire with dignity and mostly intact finances. The surprising thing about this was that the parent employer was a for profit health care company known for its proclivity to be ruthless in personnel management.
Yes and if you own your own company make sure you own the real property. for small businesses the real property is the only asset one can liquidate.
Thanks,,,
Hopefully sooner than Later.
I also did a short stint teaching Embedded Computing at the local high school. The students are hungry for that stuff, but the administration is malfunctioned without hope of repair.
Then some of the dumb powers that be in the company decided that MBA's from Harvard and Yale and other ivy league places were better able to run the top jobs in the company. They brought them in, most did not have love or allegiance to the company like some of the long term employees that had been there since they were 20. Huge resentments resulted, and maybe a decade later AT&T no longer existed.
At&T owned Bell Labs for Gods sake. They employed Kernagie and Richie, the writers of Unix and the C Language, they owned it all and let it slip away with Harvard and Yale at the helm.
Good Job,
Gives me Options
Thanks!
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