Getting A Life (Your Money or Your Life sequel)

[Teacher Terry]

Yes I remember reading about it and was surprised. They seemed very happy with their lives.

[SteveinMN]

I think it's VERY reasonable for people not to retire BEFORE 65, primarily due to medical costs (not everyone has that option as some are forced out of the workplace at a certain age but assuming one does). Because paying one's own medical costs at say 60 - yea you need a lot of money for that. And employers that cover medical costs after someone has retired are few and far between indeed (it's about as likely as getting a pension - yea good luck with that!). But after 65 there are some more options, if they aren't ideal, eh well how many of the HMO plans people have through work are either, much of the time.

It's all well and good to say one will work into old age assuming people are willing to hire one for such, but what if one keeps getting into emotionally abusive workplaces?

I think that is what is behind the drive in these books to become FI or to walk away from the corporate jobs. In addition to the jobless recovery and the increasing push for automation and "doing more with less", some workplaces are dysfunctional (this always has been true). Additionally, ageism is rampant in many kinds of businesses. I saw an article in an on-line tech journal the other day about some guy who was in his 60s and newly-hired at Google or some such tech bright spot. It's rare enough to merit an article in a national business "publication". It's sad that people feel folks in their 50s and 60s (or older, I suppose) are incapable of keeping up with Millenials in the work force. If that perception is the reality, though, it makes sense for 50- and 60-year-olds to prepare themselves for the likelihood of losing a job and not being able to replace the income (nevermind the job). So either become FI or retire early or find a job someplace (one's own company?) at which you can't be laid off. That medical-cost issue, however, is the 800-pound gorilla in the room. And, without trying to make this thread political, it will have quite an effect on 50- and 60-somethings trying to hold on to whatever keeps medical care affordable, which I expect will have a ripple effect on even the youngest workers.

[bae]

Additionally, ageism is rampant in many kinds of businesses. I saw an article in an on-line tech journal ....

I "retired" in 1999, at the age of 36, after reading and pondering YMOYL. At that time, in my field in Silicon Valley, looking around I saw almost nobody much over the age of 40 except in some of the more managerial positions. This problem still persists - most of my peers at the time have had to deal with significant ageism over the past ~20 years.

I did *not* follow a YMOYL investment strategy, as in addition to income I wanted to Do Useful Things in the community with my capital.

[Williamsmith]

When I "retired" I had just turned 51. We had a mandatory retirement age of 60. There is no debate, being in law enforcement is a young person's game. I worked other jobs for another five years and at 56 left the workforce completely.

I dont require much. And it is a good thing because my pension will never increase a penny and I will never get a Social Security supplement. What that means is that as I age, I will also eventually drop into the ranks of "poor" by annual income. I am working on a plan to offset that but as costs rise, it is inevitable I will have to cut out some discretionary spending. Any reduction in my pension would mean my lifestyle would suffer a critical blow. And any change in my healthcare plan would be devastating.

[catherine]

In my field (pharmaceuticals), there is ageism. One of my clients worked for a major pharma company and he saw a lot of 50/60-somethings put out to pasture. He had just remarried and had a pretty young son, so he quit and started his own business. He's doing really well, and he's now in his late 50s. If he wanted to, he could sell his business (he's already had offers) or continue working for many more years.

I read a lot about the gig economy and as one who is riding it, I hope it gains traction. It's another way to stop being a wage slave and gain more of a sense of freedom. I know it depends on how comfortable you are with risk and uncertainty, but given the choice, I choose freedom over "job security." And of course, the point that YMOL makes is that you minimize risk by minimizing spending and maximizing savings.

[Sad Eyed Lady]

Yes Joe Dominquez but I could not remember her name. They were never married but lived together for decades.

Vicki Robbins.

[happystuff]

Getting a Life was written by Jacqueline Blix and David Heitmiller, while Your Money Or Your Life was written by Joe Dominguez and Vicki Robin.

I completely agree with the "ageism" comments. I have been with my current company for over 13 years and have looked for a job outside this company a couple times in the last 5. With companies looking right at the resumes first now, my problem is that companies only want to see the employment for the last 5-8 years. Someone who stays in the same company doesn't really have too much to list on a resume. At least, that is my thinking at this point in time. If I happen to list jobs/experiences prior to the present, it's very easy to tell I'm old. LOL. My saving grace is that I now really like the particular work I'm doing, so hopefully it will last another 10 or so years.

[Tybee]

Here is a link to the book I thought the OP was discussing, by Blix and Heitmiller:
https://www.amazon.com/Getting-Life-...M3SZ2J9HY3BMGX

They were the couple who were both working at At & T (I think) and she went back to grad school.

At least this is the book I thought OP was rereading. I read it back in 1999, I believe, as my oldest son was still in high school, and their journey was very inspiring.

[catherine]

Here is a link to the book I thought the OP was discussing, by Blix and Heitmiller:
https://www.amazon.com/Getting-Life-...M3SZ2J9HY3BMGX

They were the couple who were both working at At & T (I think) and she went back to grad school.

At least this is the book I thought OP was rereading. I read it back in 1999, I believe, as my oldest son was still in high school, and their journey was very inspiring.

Thanks for the clarification. I was a little confused!

[Teacher Terry]

Getting a Life was a good book too. Someone by the name of Breen wrote about her and her DH's experiences leaving the corporate world. She had been an attorney. Both these books came after Your money or your life. I gave away the books recently otherwise I would look up the name of the last book.