[PRCo] Re: change to looking for a job

[Fred Schneider]

Let's see .... $120,000 a year over 30 years.   Not enough money to quit working unless you are already pushing 60.   That would be a fabulous supplement if you already have a pension and can quit.  But quitting at age 20 or 30 or 40?   I guess some would be crazy enough and by the time the realize they shot themselves in the foot, who wants to rehire someone who has been out of the labor force for 15 years or more?   
Median household income has dropped from about $50,000 to $46,000 in the recession.   The top third is $65,000.  $118,200 is the bottom of the top 10%.   

Now adjust that $120,000 for inflation over 30 years and you would be left at the end, if you failed to invest a reasonable share as you went along, with $42,850 in spending power in the 30th year.   That's what living on a fixed income means.  (I used 1980-2010 numbers.)  Remember that you bought a large house with proportional taxes and you are trying to maintain a Mercedes Benz and now your top 10% is down to simply average.

I am actually chuckling under my breath because $120,000 in a place like Los Angeles or San Diego or New York is going to get zip for that kind of money.   Philadelphia isn't actually cheap either.   

And can you imagine what happens if you hit the lottery and you quit work and your wife says to you, "You what?   Well then I'm quitting too."  Oh, you were working for SEPTA for $50,000 and she had a $50,000 job somewhere and now you have squat except for a mistaken notion that you are rich.  

No John, I hope there are not 48 jobs at SEPTA.   I hope there are not that many fools floating around.   If there are, then we understand the acronym for SEPTA.  



On May 2, 2012, at 11:38 AM, John Swindler wrote:

> 
>  This strays from the theme of this list, but if anyone is looking for a job, there will be 48 jobs available at SEPTA.     http://www.philly.com/philly/news/homepage/20120427_48_SEPTA_coworkers_to_split__172_7M_Powerball_jackpot.html   		 	   		  
>