Considering inflation the longer you stay here the less you make. Except for executives of course.
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@kd not to mention there is no way people at the end of their career are receiving meaningful raises. I always wonder if they made bad financial decisions or have a secret gambling problem 🤷♂️ as I cannot for the life of me figure out why anyone would stay last 60 in today’s environment. Most everyone I know will leave when they turn 55 and not a day later. Invest wisely and live within your means. Break free from this hellhole as young as you can. Some really smart people I have seen do the FIRE plan and amass huge investment accounts that enabled them to quit in their late 30’s or early 40’s which was really impressive. I wish I had done that!
@j8 every year it seems like the folks that are RE looking to stick it out “one more year” are increasingly worse off between the interest rates and abuse they suffer in the assessments. I feel bad for the ones that can’t seem to call it quits past 60
Everyone I know that is over 60 is retiring. This is the push they needed.
It is shocking to me that more people aren’t retiring. Retire and if you want to keep working get a new job and you will come out way ahead financially.
And for Retirement Eligible, staying past December 1st, the retirement lump sum reduces as much as your next 3 months of pay.
If interest rates continue to increase, your lump sum retirement could reduce by the same amount as your 2027 income.
You should wear your ExxoMobil volunteer day Tshirt every day in 2027 because you will be working for free.
Put in your retirement notice today, leaving prior to December 1st.
Subtract 4% from your raise and that is your real raise. Inflation is hot.