Originally Posted by
theUpsideDown
I think there's gonna be a generational difference on some of this. Grand fathers generation had a pension, fathers generation didn't have parents telling them to bear down and save so they didn't until late in life when it turns out, "you mean I'm not gonna die at 67?", to this generation of pilots who had mom and dad yelling to save save save. I'd even bet this current crop who won't marry and saves retire early. Generations are wildly different. Wilfred Brimley was 49 when he shot cocoon. *shrug* Tom Brady is 42 playing in the NFL. The generation retiring didn't go through a decade of 40-50 grand a year, and maybe they had a furlough, but they're trying to get with the program in the last 5years and it's ugly to watch.
This!
If their generation had known their pensions/medical were going to be gutted, I'm sure they would have killed to have had 16% DC their entire careers. You can't deny that our generation has benefited immensely from the lessons learned from the previous generations loss of pensions. Who knows what the future of our 401Ks have in store...the next generations may look at us like we're idiots for relying on 401Ks. Partially why I have invested in rentals/other income producing opportunities.
Throw in a B-scale, a furlough and mid-2000s paycut...that's a tough go. Take a look at he bankruptcy payrates! 12 year 777As making $185/hr with no real PS! What's that today...a 6-7 year 7ERB or a 3-4 year 320B if you add in PS?
Great thread Scoop!