You Know What Really Grinds My Gears? Now with 3x more gears...

[MoneyGuy]

Originally Posted by Lubicon

The idea of being forced to retire before I am ready is also un-nerving. I'm at that age (56) that I'm not quite there yet (retirement funds) and if I lose my job it's not going to be easy to find another due to my age and niche role I am in. I know so many people who were involuntarily downsized between the ages of 55-60.

You’re in the danger zone. When I was a financial planner I saw many people in their 50s and 60s downsized. Their salaries are higher so employers target them for cost savings. They often find it hard to find work because of higher salaries and employers often won’t hire older people close to retirement.

When I had an employer (I’ve been self employed for nearly 30 years now) I always had a plan B in case I lost a job. When I was laid off I immediately transitioned; my plan B was a much better situation (self-employment with higher earnings). Of clients who lost jobs, pretty much every one ended up better off. Get a plan B.

[undercoverbrother]

Originally Posted by Locke

Remember all the things and dollar amounts you were told that you'd need in order to retire?

Well when you were told those things it was in a pre-COVID, pre-rampant inflationary and pre-high-interest environment.

So that doesnt hold anymore.

People's CPP and OAS? Same deal.

Cost of housing and food? Oh you'd better believe it.

The factors and circumstances have dramatically changed over the past ~3 years or so.

You dollar goes further in Liberia

[Barnet Flame]

Originally Posted by Locke

Remember all the things and dollar amounts you were told that you'd need in order to retire?

Well when you were told those things it was in a pre-COVID, pre-rampant inflationary and pre-high-interest environment.

So that doesnt hold anymore.

People's CPP and OAS? Same deal.

Cost of housing and food? Oh you'd better believe it.

The factors and circumstances have dramatically changed over the past ~3 years or so.

I’m lucky in that I own a small place in London and will retire to the north of Ireland where we’ll be able to upsize and add significantly to savings to supplement my pension.

My son has gone to uni in Belfast and it is likely he’ll find employment in his field somewhere in Ireland, so hopefully we’ll be able to help him get on the property market as well.

But yeah, a lot of things need to go right between now and five years on.

[RichieRich]

https://www.personalfinanceclub.com/...-savings-rate/

https://www.personalfinanceclub.com/...ypes-of-fi-re/

What type are you? If you were laid off and needed to earn… does it need to be the same amount (or higher$) or can you get a “coast down” job where you make enough to cover the basics and let your investment capital grow for 5-15 years?

[Locke]

Originally Posted by Barnet Flame

I’m lucky in that I own a small place in London and will retire to the north of Ireland where we’ll be able to upsize and add significantly to savings to supplement my pension.

My son has gone to uni in Belfast and it is likely he’ll find employment in his field somewhere in Ireland, so hopefully we’ll be able to help him get on the property market as well.

But yeah, a lot of things need to go right between now and five years on.

Good for you, honestly.

I'm having a very cynical day so I'm going to leave it there before it gets just a wee bit too dark for comfort.

[Lubicon]

Originally Posted by MoneyGuy

You’re in the danger zone. When I was a financial planner I saw many people in their 50s and 60s downsized. Their salaries are higher so employers target them for cost savings. They often find it hard to find work because of higher salaries and employers often won’t hire older people close to retirement.

When I had an employer (I’ve been self employed for nearly 30 years now) I always had a plan B in case I lost a job. When I was laid off I immediately transitioned; my plan B was a much better situation (self-employment with higher earnings). Of clients who lost jobs, pretty much every one ended up better off. Get a plan B.

Absolutely I am in the danger zone, that's what worries me. Plan B is the challenge however.

[Huntingwhale]

Went to a massage therapist today. Had a great session. Felt great afterwards. Super annoyed to see a tip feature on the payment terminal when paying. Oh hell no. We aren't doing this. Pressed no tip and as predicted, the receptionist gets a sour look on her face when I ask her for a receipt. Laughed to myself as I watch her struggle to do her best to maintain the politeness she had 10 seconds earlier.

[White Out 403]

Originally Posted by Huntingwhale

Went to a massage therapist today. Had a great session. Felt great afterwards. Super annoyed to see a tip feature on the payment terminal when paying. Oh hell no. We aren't doing this. Pressed no tip and as predicted, the receptionist gets a sour look on her face when I ask her for a receipt. Laughed to myself as I watch her struggle to do her best to maintain the politeness she had 10 seconds earlier.

There's some really easy handjob jokes. Fill in your own everyone.

[Harry Lime]

I don't know what comprises a tip worthy job and a non-tip worthy job. It shouldn't be simply supplying a service, because no one tips at the grocery, and those people get paid in dirt.

If a service is covered by insurance, asking for a tip would feel like panhandling, to me.

[GordonBlue]

Originally Posted by Scroopy Noopers

You’re looking for the “I don’t want to live on this planet” thread. This is supposed to be a bit lighter, like traffic and annoying people. Not facts that shatter the illusion of freedom.

then people in the thread can quit talking about the luxury they have in their early retirements.


but speaking of driving, I had one yesterday.
In the left turning lane coming up to the light. It turns yellow when I'm pretty far away from the intersection, so I slow down and stop.

The guy behind me laid on the horn and I can see him cursing me. He was pissed that he didn't get the chance to run a red light.

Screw him and other like him. I'm not going to be one of those people who think the yellow light means speed up no matter what.

[cam_calderon]

Originally Posted by GordonBlue

then people in the thread can quit talking about the luxury they have in their early retirements.


but speaking of driving, I had one yesterday.
In the left turning lane coming up to the light. It turns yellow when I'm pretty far away from the intersection, so I slow down and stop.

The guy behind me laid on the horn and I can see him cursing me. He was pissed that he didn't get the chance to run a red light.

Screw him and other like him. I'm not going to be one of those people who think the yellow light means speed up no matter what.

I had someone change lanes and pass me, running the red light, when I slowed down after a light turned yellow. Absolute idiot.

[Sliver]

People stopping on an early yellow when they could easily clear the intersection totally piss me off. Just fkn go.

[OutOfTheCube]

Originally Posted by Sliver

People stopping on an early yellow when they could easily clear the intersection totally piss me off. Just fkn go.

This is the cost of every fourth intersection having a red light camera. If I'm not on my regular route where I know where they are, I just smash the brakes on a yellow too. Got a $500 ticket one time not doing that, can't afford that again right now.

[CliffFletcher]

Originally Posted by OutOfTheCube

This is the cost of every fourth intersection having a red light camera. If I'm not on my regular route where I know where they are, I just smash the brakes on a yellow too. Got a $500 ticket one time not doing that, can't afford that again right now.

Same thing happened to me. Getting tagged for $500 was enough incentive to make me err on the side of caution now.

[Sliver]

Yeah, but it's not like they're hidden. I slam for cameras, too, but it's not like you can't see if they have one there or not. If there isn't one then go.

[Fuzz]

Don't you only get a ticket if you enter the intersection when it is red? Or do I have that wrong?

[mrkajz44]

yeah, my understanding is you have to enter when it's red in order to get pegged. Entering a large intersection on a yellow and leaving under red is fine.

[TorqueDog]

Originally Posted by OutOfTheCube

This is the cost of every fourth intersection having a red light camera. If I'm not on my regular route where I know where they are, I just smash the brakes on a yellow too. Got a $500 ticket one time not doing that, can't afford that again right now.

Originally Posted by CliffFletcher

Same thing happened to me. Getting tagged for $500 was enough incentive to make me err on the side of caution now.

Originally Posted by Sliver

Yeah, but it's not like they're hidden. I slam for cameras, too, but it's not like you can't see if they have one there or not. If there isn't one then go.

Having Waze running in the car is great for knowing not only where the cameras are (and what direction they're facing) but also what the speed limit is for that camera.

[OutOfTheCube]

Originally Posted by mrkajz44

yeah, my understanding is you have to enter when it's red in order to get pegged. Entering a large intersection on a yellow and leaving under red is fine.

Right, but this is still a fairly narrow window and a decision you need to make in probably less than a second. And if you increase speed to get through before it turns, you're also risking a ticket. 95%+ of yellow lights it's not an issue and very obvious to proceed or stop, but every now and then you hit one in just that perfect danger zone...

[Titan2]

Originally Posted by mrkajz44

yeah, my understanding is you have to enter when it's red in order to get pegged. Entering a large intersection on a yellow and leaving under red is fine.

They have abandoned fines? A good pegging will definitely get me to stop on yellow. Maybe.