Boomer hubby and I continue to work because we’re terrified that our frugally saved 401 K’ s will be robbed. I say I’ll contine to work until I die. We’re “squirrels.” Also, my 84-year old father continues to work part-time, for the fun of it at a golft resort. His bumper sticker reads: will work for golf.
I'll take the tax hit but I'll use the net and do whatever the heck I want with it.
So many excellent observations. It would be great if FR had a more up-to-date forum platform. I don’t see why this clunky format persists. Oh well.
Yes, I’ve saved nearly twice what I projected I would need for a comfortable SELF-FUNDED and SELF-EMPLOYED not planning on SS retirement... but I can’t afford to retire, can’t take the risk. Costs go up faster than my savings earn and more than that, there is less certainty now than ever over costs, taxes and stability.
Once you get off the horse and give up your place you may never be allowed or able to get back on so you stay in the saddle. Played properly, the boomer generation will die with more money than needed because the alternative terrible. To be old, broke, sick and unemployable is a terrible end.
As for youngsters, there are some great ones! Several of them work with my company and I am thrilled to have them. We mentor them as much as we can and provide them opportunity as they are ready for it. There are very few available that I call fire-and-forget type workers. People you tell a job needs to be done, let them know to see you if they need help and then you hardly ever see them until they bring back a product. They understand that you want them to do the job, not help you with it.
Mostly what we see at our clients though are whiny children who get their feelings hurt by our hard charging and capable achievers. We are glad that our clients hire them though and pay them mediocre wages and that they keep them. This just make our business of providing solutions and work for them GREAT! Our folks do have to learn to manage these problem people though.
We hire winners or potential winners, we pay them well for performance, we pay them very well for exceptional performance, we expect great things from them, if they are not able to deliver great things we give them an opportunity to find themselves somewhere else and give someone else an opportunity to be very successful in our team. We make mistakes in hiring sometimes. We don’t like to see people fail so we try to be very careful. Our judgement keeps improving.
We remain small because you can only find so many great people... they are our success. We might make more money by getting bigger, some of our clients might not notice the edge we have now but we would not be nearly as satisfied.