People have boxed themselves into bad jobs because they were not thinking ahead. They thought their jobs would always be great and safe and they spent accordingly. Then when things went south, layoffs started happening all the time, benefits got cut, the work atmosphere turned toxic, they realized they were stuck unless they can find a job that pays at least as much as WFC. And since we are talking about people who are in their late 40s and above, that's much easier said than done.
19 replies (most recent on top)
wow, thanks Grandpa! I have not been asleep or working at WF forever so this is hardly new.
I am over 50, average office talents, with continual medical bills. Kids are older and almost all out of the house. Wife doesn't earn more than me. Mortgage not yet paid and a considerable way to go. I am screwed if I get the lay off note. Life is tough. Learned that years and years ago.
Post ID: @iue+1bCIC6SU
Don’t get down on yourself… get up and keep swinging. I can tell by what and how you write that you have what it takes. I lost several jobs. One as a single earner just as my wife left the workforce after having our first child. Another without warning 2 years later. Let me tell you, you never know what you’re made off until you face adversity.
You have what it takes because you are a realist, you feel it in your gut and are not a whiner. You are a credit to your generation and don’t let the whiners drag you down with them.
Save, save and save some more… sound advice, but sadly totally lost on those who need it most… the millennials. The government is printing money and giving it away, social security and Medicare is not sustainable and the coddled millennials who have been given so much and faced so little adversity have no idea how hard life can be. Study the 1970s and consider if you’re tough enough to get through 18% interest rates, hyperinflation and 8% unemployment. Learn what the “misery index” is. I’m sad to be conveying this, but you voted for it and there’s no way out of it. You made the same mistake as the first wave boomers (hippies). I guess you could always turn on, tune in and drop out… either way you have been warned.
Hey OP, how much does Charlie make a year?
And does he ever break a sweat doing it?
You sound like one of those plants from a "think tank" spreading "common sense" to people in an effort to head off any critical thinking about how capitalism works.
FTR, I like capitalism, just not when wealthy people can pay folks like you to make people feel bad about themselves.
We see you.
The OP makes sense. Those making the smart a$$ comments are probably the ones who will be in the most trouble when they get the axe and don’t want to admit that they were stupid.
Always brilliant to blame the victims (employees, customers, shareholders) of mismanaged scandal- ridden companies.
Do you have any other life advice, Grandpa High Horse? Buy low, sell high? Don't take a laxative and sleeping pill at the same time?
Been living under my means my whole life, own everything I have and carry no debt.
Honestly, please remove this tripe. This is not the place for people to post folksy wisdom from their high horse.
Good advice, though like others have said, not everything is within our control.
I’ve recently learned about the “Financial Independence, Retire Early (FIRE)” movement which is intriguing. Worth learning more about: https://en.m.wikipedia.org/wiki/FIRE_movement
@bfg+1bCIC6SU Playing it safe is the riskiest way to approach investing and life. It’s about understanding all risks, leveraging risk reward, and having self control.
So many snowflakes in this country in general and at Wells Fargo in particular.
Sure. I bought what I was told was safe stock in my 401k and it tanked and then bought a house and the housing bubble tanked and then had a major illness and couldnt work due to surgery and then couldnt work due to parent having a major illness so I had to sell two houses and live in a small apartment. I have never been a big spender and I have saved and lost in all of the major ways I was told I was playing it safe. I think you may have missed your calling as a retirement advisor.
Oh ok, thanks for telling us to think ahead OP, forgot it was our own fault.
Sound advice. Save, save and save some more. Because it’s very cold out there and the government is printing money and giving it away, social security and Medicare is not sustainable! But the millennials seem to think otherwise.
Thanks for the lecture, Grandpa. I already do and have a few years of living expenses in cash, no debt. I could quit tmrw and pay my bills for a long time just getting a part time job. I just dont want to buy my own health insurance.
The era of McMansions had everyone maxing out their mortgages. Then when Corporate America started favoring profits over people soon after, they began regretting it.
On the other hand, if employers see you have a history of job hunting, they are less interested in you. It works both ways.
Some people have families to support and just need a job to keep supporting them. Something that I suspect you will learn someday.
I agree. I want to buy a home but up until recently, I have been losing jobs back to back. I live in a small apartment and the rent is cheap but I want more. I kick myself for coming here because I knew it would happen again but I had just rebounded from one layoff and I needed a job. Now I'm back to square one again looking.
It's beyond frustrating when you want more but you keep running into bad breaks.