Members bassman1956 Posted November 19, 2007 Members Share Posted November 19, 2007 Yes. With half the life. Link to comment Share on other sites More sharing options...
Members basste Posted November 19, 2007 Members Share Posted November 19, 2007 Well, i haven't started yet the process to buy a house, and when i see prices, i can't ask this question to myself: no choice > i must stick into this during certainly 30 years ( as i work already since 13 years..) Link to comment Share on other sites More sharing options...
Members L-1329 Posted November 19, 2007 Members Share Posted November 19, 2007 It's only been a few years since I did live on half my current salary. I could live on half, but I would have to move and cut way down on spending. No more new basses... Link to comment Share on other sites More sharing options...
Members 82Daion Posted November 19, 2007 Members Share Posted November 19, 2007 If you cut my salary in half, I'd be paying you. When I am working, I'd probably go down to a salary that could cover my college expenses, but there's no way I could live on my own unless I picked up a job down here. Link to comment Share on other sites More sharing options...
Members Roguetitan Posted November 19, 2007 Members Share Posted November 19, 2007 sure I could live off half of my salary if I wanted the bank to forclose on my house, reposess all of my studio equipment and move to tent city sure I could do it, but I am not gonna, I say stick with the job until you are gettting 3/4ths of your sallary. it is really a no brainer. Link to comment Share on other sites More sharing options...
Members Psilocybin Posted November 19, 2007 Members Share Posted November 19, 2007 They give you more money if you stay longer, because you will die sooner and receive fewer payments. Link to comment Share on other sites More sharing options...
Members Westsailor Posted November 19, 2007 Members Share Posted November 19, 2007 If I stay, I can make as much as 76%, but i have to stay 33 years for that. It just doesn't seem worth it to me. What would you do? IMO, It's not worth the extra 13 years. Get out... start enjoying life. It's shorter than you think (maybe even shorter than it's supposed to be!) and it's the only one you'll get. There are sacrifices involved but if I'm any example you will be a much happier person for it. But in any case, the key is knowing the difference between wants & needs. I mean truly. Get totally out of debt and start paying cash for EVERYTHING. It isn't nearly as attractive when you have to actually count out the bills for that $100 pair of jeans (or some other superfluous 'consumer' item). You would be surprised how much your expenses drop when you don't just plop down some plastic for something that catches your eye. Link to comment Share on other sites More sharing options...
Members Rhythm Junky Posted November 19, 2007 Members Share Posted November 19, 2007 No. Link to comment Share on other sites More sharing options...
Members t3ch Posted November 19, 2007 Members Share Posted November 19, 2007 Actually, I love my job as a firefighter. Only 9 days a month, but the older I get, the more chance of seriously injuring myself. I would like to be able to enjoy the retired life HEALTHY. For those of you who do not know, the AVERAGE lifespan of a retired firefighter is only 5.9 years. Ooh, that's you. I knew there was a career fireman floating around these boards somewhere. I volunteer in loudon county VA Would it be possible for you to get an inspecting gig somewhere? Do you have any specialties like sprinkler systems or something you could do after leaving where you're at in MD? Link to comment Share on other sites More sharing options...
Members Perfessor Posted November 19, 2007 Members Share Posted November 19, 2007 I could. I've had a municipal job for 23 years and I can and will retire in three years. You can always do another job and have the complete freedom of quitting that. Get this...my boss said I can retire and come back if I want as a regular operator instead of a supervisor as I am now. They would create a position for me. I would never do it, but talk about a get rich scheme! Link to comment Share on other sites More sharing options...
Members picker13 Posted November 19, 2007 Members Share Posted November 19, 2007 I'd say there are three important things to consider. #1) Your income, unless adjusted, will remain flat, therefore the buying power will decrease every year due to inflation. Right now that's about 3% a year, which is very low. Let's say 50% of your income is $40,000. In 5 years, that will have the buying power of $34,350, and in 10 years $29,500. That's if inflation remains low at around 3%. #2) Your age. How close are you to being able to start drawing social security to help boost your income? And what effect will you decreased income over that period of time (between now and then) effect your benefit? When you retire, there are only two ways to add to oyour income. One is by being able to draw from a pension (retirement, 401K, IRA) plan, the other is from social scerity. If you're closer to 65, it's easier to "wait it out" on 50% iccome, as opposed to having to make it 20 years until you're eligible. #3) What other benefits do oyuo receive? The primary concern being for health insurance. It's expensive to get a decent policy when you're looking on your own. If you can continue on the company's policy, especially if they'll continue to pay for part of it, that would be nice. Otherwise, you take a huge hit on your income right off the bat. Those are the financeial concerns. The other thing is what are you going to do with all your time? and can you afford to do what you want to do? So many questions, my brain hurts. Link to comment Share on other sites More sharing options...
Members SA Rios Posted November 19, 2007 Members Share Posted November 19, 2007 If I left my wife and child, moved to the {censored}tiest part of the city, sold all my basses, gear and my car then yes, I could live on half of what I make. Link to comment Share on other sites More sharing options...
Members bnyswonger Posted November 19, 2007 Members Share Posted November 19, 2007 In a word, no. Link to comment Share on other sites More sharing options...
Members JacieFB Posted November 19, 2007 Members Share Posted November 19, 2007 I'm already living off just half of my salary...The last company I worked for ran out of funding, and I decided to just consult. It has turned out to be about half of the income I had from the last job. A year and a half of it is just about long enough, though. Can I live with it? Yes, it's not that bad, if you really keep your eyes on the money coming in and going out. I've been able to contribute my half of the household expenses. The trouble is that for a few months, I really didn't pay that close of attention. Couple that with some unexpected major expenses, and I'm sitting on 3 grand of credit card debt that is really being a thorn in my side. Link to comment Share on other sites More sharing options...
Members Roger in the sky Posted November 19, 2007 Members Share Posted November 19, 2007 in this town hell-{censored}ing-NO!i couldnt even live off 3/4 of my salary4/5 maybe..... ps: i dont make {censored} Link to comment Share on other sites More sharing options...
Members lokidecat Posted November 19, 2007 Members Share Posted November 19, 2007 live? nosurvive? of course big difference Link to comment Share on other sites More sharing options...
Members JacieFB Posted November 19, 2007 Members Share Posted November 19, 2007 Come on guys, it's not having what you want, it's wanting what you've got! Link to comment Share on other sites More sharing options...
Members Rowka Posted November 19, 2007 Members Share Posted November 19, 2007 ISAB,Now would be a great opportunity to start a new career. Maybe go back to school for music ed or whatever interests you.Maybe find a band that gigs regularly (4-5 nights a week).While you may be able to retire from the FD, you are far to young to retire from living. From what little I know of you, I'd have a hard time imagining you spending your afternoons in the park playing chess with the old guys. Here is a chance to re-invent yourself without the total financial insecurity most others would have to endure. Congratulations on your new life! Link to comment Share on other sites More sharing options...
Members Jugghaid Posted November 19, 2007 Members Share Posted November 19, 2007 I could. But I choose to work my ass of intead so I can retire in a few years with a ton of $ in the bank. I'll probably still work though doing something else that I love because I'll just be flat out bored after about 60 days of vacation. Link to comment Share on other sites More sharing options...
Members Zon5string Posted November 19, 2007 Members Share Posted November 19, 2007 Why not retire from the FD and do something else? My dad retired (30 years as an elementary school principal) and started a computer business. His biggest customer was the school district he used to work for. Maybe you could start some kind of consulting business using your FD experience? More time with your personal training/coaching? Just because you're retired (from one career) doesn't mean you can't/shouldn't start another. Unless, of course, you want and can afford not to anymore. Link to comment Share on other sites More sharing options...
Members I stink at bass Posted November 19, 2007 Author Members Share Posted November 19, 2007 I woulf definitely do something. I couldn't just sit around all day doing nothing. I am part owner of a personal training studio. So maybe I will do that full time or even open up a second location. But I wouldn't want to devote too much time to working. There is plenty of jammin, traveling, riding, and having fun to do. I've always wanted to ride across the country on my bike. Who knows. For now, it's 2 days a week of making people drive into mailboxes. Link to comment Share on other sites More sharing options...
Members The Real MC Posted November 19, 2007 Members Share Posted November 19, 2007 If you got laid off today, you'd probably collect less than half your salary through unemployment. There is a cap on the max you can collect. Link to comment Share on other sites More sharing options...
Members timmerz Posted November 19, 2007 Members Share Posted November 19, 2007 If you're dissatisfied with your job, then just grab your 50% and GTFO of there. You'll have enough money coming in that you can pursue other career goals, even if they don't pay all that well.Emre This is what my thoughts were also...you have a good opportunity to get into something new and still collect 50% of your old wages at the same time...if you don't like the line of work you're in anymore...I know quite a few people that are doing just that right now at this stage in their lives... Link to comment Share on other sites More sharing options...
Members B-Bottom Posted November 19, 2007 Members Share Posted November 19, 2007 what's half of nothing? Link to comment Share on other sites More sharing options...
Members walkerci Posted November 19, 2007 Members Share Posted November 19, 2007 No way. I've got two mortgages, two car payments, and two households to support. Then there is the gear habit. Link to comment Share on other sites More sharing options...
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