Quote:
Originally Posted by Amnorix
Yes, peak earning years, and whether or not there are any post-retirement benefits (read: pension) can make a huge difference. You can be 35 and making much better bank than your parents did, even adjusted for inflation, but if you parents were in job with a high degree of job security, and with steady raises, their peak earning years might have been pretty late in life. IIRC, studies have recently found thta peak earning years are happening earlier -- usually people do the best when they are in their 40s or so.
And if your parents spent 30 years somewhere and had a nice pension, well, that's the gift that keeps giving.
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The pension thing actually works in our favor, believe it or not. I've got a couple of defined benefit plans, and my wife is a teacher, so she can retire in her early 50s if she wants to. She doesn't make much (mid $50Ks), but the benefits are great. That makes it harder to calculate the 'better off' part.
That said, I wouldn't be shocked if someone told me that I've pretty much peaked in terms of my earning potential. I've decided that I'm unwilling to take on more work/stress/etc. for more money unless the money is dramatially higher. Right now, my job is cake. I work about 30 hours a week, I come and go as I please, I've got less than a 20 minute commute, and I can wear jeans, a polo, and tennis shoes most of the time. By the end of the month, I'll pretty much be working from home, so its a pretty good gig.
I don't make a ton of money, but I certainly don't struggle. Short of doubling my pay, I feel like I'd be making a mistake if I gave all of that up for more money. Still, it feels strange to be in my mid 30s and feeling like I'm done trying to move up the chain.