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      10-11-2019, 11:09 AM   #90
unluky's Avatar

Drives: 04 z4 3.0 Sport & 15 X5 35i XD
Join Date: Aug 2013
Location: Sedalia, MO

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The older I get the more I notice the complete lack of sound financial decision by basically 75% of the population. Whats worse - they don't seem to care. It's like the thought of retiring or what happens when they are 70 years old is someone else's problem. I can't tell you how many "fatherly" talks I have had with employees over the years, some older than me, about finances. Now I am not financial genies by any means, but I am 50 and could retire today and be OK. I don't want to be just OK, so I am still working. Plus I like my job.

I worked for a manufacturing company prior with a nice sized skilled laborer pool that made pretty decent wages. We in the offices were compensated well too, but there were a few booming years where the bonuses were staggeringly good - as in we thought the owners would cap them but did not. Everyone in the office still had the cars they had 4-5 years ago and every car in the wage roll parking lot turned over to not only new cars....but NICE new cars. Being an exec and on the HR team - I was a part of helping with the 401K program - so I saw what these people had saved. All those great years they turned down the tax safe haven and company match opportunities and instead bought brand new cars, motorcycles, and other toys. It was hard for a conservative guy like me to watch, but everyone has to walk their own path.

I never say a word unless my advice is asked, but it is very satisfying when you open the eyes on a worker early in their career and see them start making saving habits that will change their whole lives - and maybe their kids lives too.

It is scary how fast the "get it now and worry about paying for it later" ideology has progressed. Weighing the up/down sides to debt are of little concern to a majority of Americans I believe. As long as they hear a YES - they are willing to sign on the dotted line. I'm sure we have all seen the surprised look at the dealers when the light bulb just went off understanding they have a different critter in front of them that pays attention.
2015 X5 XDrive 35i - 2004 Z4 3.0 Sport