Part of this is, in my opinion, that there are few ‘companies for life’ with lifetime pension after retirement these days. My parents both retired from large companies from which they received lifetime pensions and medical benefits. That’s from a bygone era, is not sustainable for most companies, and few people have anything like that now.
So, we all have less general security - unless we put money away ourselves - which I strongly advocate for, from a young age on. If you haven’t done that, even if your salary and job security have increased over the past few years, you probably still feel that you are behind and thus feel insecure.
I actually work for a private multinational company that has a pension. Good reason to stick around with them.
Living debt free or with very limited debt and living below your means is always the best way. Even now when I don’t need to shop sales I almost never buy clothes that aren’t on clearance or a good sale.
We have a small house and only one small car payment. I could pay outright but make more on the money than interest and we overpay the monthly payments.
Part of this is, in my opinion, that there are few ‘companies for life’ with lifetime pension after retirement these days. My parents both retired from large companies from which they received lifetime pensions and medical benefits. That’s from a bygone era, is not sustainable for most companies, and few people have anything like that now *
*Unless they work for the government, of course.