Someone made the comment that average boomer retirement savings is 200k. Probably true but not representative of this crowd.
Since it is anonymous here is a raw poll.
Lol...That's wishful thinking that SAS will last 81 years. I sure hope it will, but unlikely.
SAS is 48 this year. It will surely be really nice if the Big Guy make it to at least 100. I wish him well. My grandma made it to 101.5 with all her faculties intact.
@6byn+1sAMZYGR no I don't think so. Nobody has spent 81 years at SAS.
I think you had a typo in 1. It should be 1. 81 not 1. 48.
Shout out to late Boomers and early Gen X. Let's bring back the 80's moves.
https://www.youtube.com/shorts/gpCe-EHp82g
It's too hilarious to see Boomers now line dancing to hip hop group Three 6 Mafia's Sippin on Some Sizzurp song circa 2000.
30
6 million
50/50
None yet but there will be
We are boomers. Got jobs after college making very little, worked hard for a long time, saved and invested as much as we could, never lived beyond our means and happy to let the Jones win. Did much better once SAS quit handling it all in house.
I worked at SAS and spouse did not.
I'm happy to be gone and not living thru the decline. Hope they can recover but I don't see it. All my friends are gone one way or another so, while I cared about SAS for several years post retirement, I no longer have any connection and care very little now. The Kool-Aid has worn off.
Nobody is average, interestingly.
All fair points. I indeed misread and conflated the two.
We agree that comparing salaries is fair and reasonable.
My comment was intended to discourage comparing net worth and retirement savings. That leads to envy and other bad feelings.
Some of us are just better at saving and investing, and some joined when the company was growing not declining.
Equal pay for equal work? For sure, always.
@xct+1sAMZYGR
Read the threads again. No one said anything about not comparing salaries.
People are talking about knowing or not knowing someone's net worth and retirement savings at SAS.
With 3+ years of Bidenflation, a decade of flat line sales, negligible COLA adjustments, and next to no promotions at SAS, why would you NOT compare salaries?
It has nothing to do with feelings. It has everything to do with understanding if you’re being compensated fairly for the value you generate.
But keep peddling that narrative. HR appreciates it.
@rlv+1sAMZYGR Is right. It’s best not to compare ourselves to others. It only breeds bad feelings. Best to focus on the positive.
Kudos to all those who saved and invested well, though. SAS offered that opportunity, to those who joined early. May they have happy retirements.
Bravo to @bjh+1sAMZYGR!
Don't ever be one of these people:
More than half of Americans raking in $100,000 or more a year are living paycheck to paycheck.
(Source: https://fortune.com/2023/01/30/more-high-earning-americans-stretching-paycheck-inflation/ )
I have been with SAS for multiple decades. I lived below my means, and saved and invested the surplus. We are a one-income family (spouse has a small hobby income). I bought the smallest house that meets my needs instead of the largest house that I could afford. I was in my 40s before I bought my first brand new vehicle (paid cash after years of saving while driving old vehicles). Because I am a disciplined spender and live according to a monthly budget that I put in writing before the first day of each month, I reached financial independence years ago. I continue to work because I enjoy it.
I am not not in management, and do not have a stellar salary. The key is to delay gratification, budget your monthly spending and then spend your monthly budgeting, live always below your means, and save and invest the difference over a long period of time.
YOU too can achieve financial independence if you follow the same principles.
Lol...No 25-year- old is worth $5M but they certainly may inherit that much from their SAS parents if the parents are savvy enough to invest wisely and things are going good.
oh sorry, I misread 25.... 25 years working at SAS, not 25 years old.
I don't know of any 25 years old working at SAS or elsewhere that has $5.3M networth without a windfall but if there is one then Gen Z is doing much better than we know.
@jyu+1sAMZYGR There's plenty of information online if someone wants to know what is the average person has in retirement savings and if they do research there's plenty of information about savings and investing. I'm saying that it does no one any good to know what your SAS co-workers have saved because when you disclose it, it makes others feel either superior or inferior to you or vice versa. It is not a positive feeling. It is just human nature. Curiosity ki-ls the cat. Of course I am not saying people can't know, it just that they shouldn't try to find out what others have. You do whatever you want. Most people aren't honest about what they actually saved anyway.
I have no interest in knowing what my colleagues, neighbors, friends, relatives or strangers have saved up in retirement.
"The average boomer has only about $200,000 saved for retirement"
That figure is obtained by looking at each retirement account. It ignores the fact that people change jobs and create multiple 401k accounts and IRA accounts over time, and also create brokerage accounts, and CDs.
Back when profit sharing happened, what was the low, average, and max you received?
I joined as it was being phased out and replaced with the extra 401-K match.
"It will only make someone feel envy, jealousy, etc if they are insecure to begin with"
They don't have to be insecure to feel envy or jealousy. It's just human nature.
People always think they never have enough even when they have enough. If you have $1M you'll think you need $2M, if you have $2M you want $4M, if you have $4M you'll want $8M-10M, etc... There's a study that has been done about this.
Anyone can make up a high net worth since it's anonymous!
@tsb+1sAMZYGR Why are you sensitive about a number like net worth on anonymous account? Even if someone went to the effort of pinpointing who @tsb+1sAMZYGR is irl what do you think they can will do with a number. Unless you are a digital ninja your information has already been sold many times over. Nobody asked you for SS #, bank account numbers, etc.
@tsb+1sAMZYGR It is relevant and useful to know. Plenty of people in their “right mind” will. Blind, Glassdoor, levels.fyi show much people want that kind of info.
And it helps youngster show possibilities. Bad or good.
It will only make someone feel envy, jealousy, etc if they are insecure to begin with. I can’t control what some anon thinks or feels.
Do not worry or be curious about what others have. Only worry about yourself.
No one in their right mind will tell you their net worth or financial information even if it is "anonymous".
If you know what someone else has and you don't have as much it will make you feel envious and jealous! Negative feelings! Just work hard, save as much as you can, invest wisely and one day in your retirement age you will be rewarded with the power of compounding to live comfortably or very comfortably and even leave a nice inheritance to your children, relatives or charities.
I’ll start