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quote:Gonna need some facts to back this up. The conventional wisdom is that careers kick off in your 30's. Unless you're an engineer or like a refinery worker or something, there's typically a lot of upside after you get established (and even in those cases, there is still a lot of growth potential, just more front-loaded). Even engineers get substantial raises mid-career if they're okay with playing the job-hop game. I feel like that's the big factor for skilled labor in the modern US economy--the willingness to move wherever the money is better. N=1 and all, but that plus a pile loving pile of luck certainly worked for me. (The part I'm not certain about is whether the luck or the job-hopping was the bigger factor.  )
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May 15, 2018 20:20
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It really does seem sadly to be nearly universal that the best way to get a promotion (outside of government) is moving to a different company. A lot of people still believe in company loyalty because it’s what their parents told them about. So people stick with jobs that will never give them promotions or raises, just increased responsibilities at the same pay.
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May 15, 2018 20:44
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Sundae posted:Even engineers get substantial raises mid-career if they're okay with playing the job-hop game. I feel like that's the big factor for skilled labor in the modern US economy--the willingness to move wherever the money is better. N=1 and all, but that plus a pile loving pile of luck certainly worked for me. (The part I'm not certain about is whether the luck or the job-hopping was the bigger factor. Yup yup yup. Once people get in their 30s, they start having kids, spouses, and houses so you can't always chase the money/new job.
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May 15, 2018 21:00
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Shirec posted:Yup yup yup. Once people get in their 30s, they start having kids, spouses, and houses so you can't always chase the money/new job. Suck it, crotchspawn-havers 
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May 15, 2018 21:04
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Barry posted:Aziz Ansari has really fallen on hard times lately lmao at the progression for each article about where your finances should be decade by decade: 20s: The Intern 30s: Master of None 40s: The 40 Year Old Virgin 50s: Running 60s: The Intern
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May 15, 2018 21:06
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Power of Pecota posted:lmao at the progression for each article about where your finances should be decade by decade: Idgi?
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May 15, 2018 21:12
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22 Eargesplitten posted:It really does seem sadly to be nearly universal that the best way to get a promotion (outside of government) is moving to a different company. I just assumed that boomers taught their kids about company loyalty and stayed with a company forever so they could get a pension. But pensions are essentially non-existent at this point, so these days people job hop to get that nice increase.
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May 15, 2018 23:00
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Anecdotally, I turned 30 at a job where I made 57k a year, and I’m going to turn 35 at a job where I make 107k a year. I had more than 100% of my salary as retirement savings by the time I turned 30, but I won’t have 200% by the time I turn 35. (USER WAS PUT ON PROBATION FOR THIS POST)
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May 16, 2018 00:22
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axeil posted:https://twitter.com/MarketWatch/status/995381403830243328 You might be in the wrong forum, but I was decently past this at 35, I am at 5x @38 (USER WAS PUT ON PROBATION FOR THIS POST)
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May 16, 2018 00:31
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Foma posted:You might be in the wrong forum, but I was decently past this at 35, I am at 5x @38 What’s it like to be unemployed?
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May 16, 2018 00:44
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Foma posted:You might be in the wrong forum, but I was decently past this at 35, I am at 5x @38 I think you might be in the wrong forum. You're looking for the guillotine.
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May 16, 2018 00:49
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axeil posted:https://twitter.com/MarketWatch/status/995381403830243328 Get laid off when you're 35, salary is now zero Checkmate, financial advise columnists
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May 16, 2018 00:51
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Trap sprung, idiots.quote:Things that could get you probated
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May 16, 2018 01:17
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Hoodwinker posted:Things that could get you probated Mantle posted:Idgi? (I think they are all movie titles)
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May 16, 2018 01:43
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Marketwatch should stick to copying wallstreetbets posts and incorrectly reporting what happened.
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May 16, 2018 01:54
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brugroffil posted:Get laid off when you're 35, salary is now zero Unemployment insurance checks are valid income!
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May 16, 2018 02:15
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What is happening to that poor fish in your profile??
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May 16, 2018 02:40
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Lowness 72 posted:What is happening to that poor fish in your profile?? Having its unfertilized eggs removed so the rich can have fancy dress-up parties.
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May 16, 2018 02:44
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Elephanthead posted:Having its unfertilized eggs removed so the rich can have fancy dress-up parties. Every time I see that gif it makes me hungry. At fancy events they should just give us the fish to squeeze ourselves.
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May 16, 2018 03:37
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no the article is good in the sense that it specifically ilustrates how lovely and unrealistic the steps you have to take in this country to avoid working until you die
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May 16, 2018 05:57
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FrozenVent posted:Anecdotally, I turned 30 at a job where I made 57k a year, and I’m going to turn 35 at a job where I make 107k a year. You’re my hero. Please tell me more.
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May 16, 2018 06:57
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AndrewP posted:no the article is good in the sense that it specifically ilustrates how lovely and unrealistic the steps you have to take in this country to avoid working until you die
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May 16, 2018 07:10
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I think it’s depressing simply because getting a nest egg seems so insurmountable that it’s hard to get started. I don’t think I started really working on retirement savings until my early 30s because I was focusing on paying off my school loans, building up a buffer, etc. Me at 28: fuuuuck Me at 30: fuuuuck, but at least school loans are paid and car loan is shrinking Me at 32: meh, at least I’m debt free, time to max out 401k and start building buffer Me at 34: okay, start putting buffer money into roth etc One goal at a time. also, +1 for jobhopping for raises, my AGI is nearly triple what it was ten years ago
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May 16, 2018 07:18
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What the gently caress is happening here! Stop thread stop!
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May 16, 2018 12:45
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I overheard a complete gem while one coworker was telling another about his rental business. The guy was bragging about getting his investment houses for 30% under market, and got asked why he doesn't just flip them instead of renting them out. "You can't get market value when you sell a house."
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May 16, 2018 12:47
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Can we get a probabtion for anyone who used I/My more than once in their post in the past two pages, thanks.
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May 16, 2018 14:04
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Twerk from Home posted:I overheard a complete gem while one coworker was telling another about his rental business. The guy was bragging about getting his investment houses for 30% under market, and got asked why he doesn't just flip them instead of renting them out. Maybe what he is trying to say is that the transaction costs of flipping with title in hand are atrocious, often greater than 10% and the return may be better if you rent the property
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May 16, 2018 14:10
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Photex posted:Can we get a probabtion for anyone who used I/My more than once in their post in the past two pages, thanks.
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May 16, 2018 14:16
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It's almost like there's a specific reason we agreed to that rule.
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May 16, 2018 14:59
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Every thread needs an empty threat. It adds character.
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May 16, 2018 15:04
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I wish we had a cold, distant thread-mom. "Oh, you've decided to post that? You must not be hearing what people have said about you. A shame, really. I remember when you were a good poster."
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May 16, 2018 15:07
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Your mom must have dementia, none of us were ever good posters.
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May 16, 2018 15:57
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Let's get back to our roots: 
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May 16, 2018 18:24
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Haifisch posted:Let's get back to our roots: 21st century kamp krusty
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May 16, 2018 18:26
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Well, I have been looking for a good day camp for my daughter...
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May 16, 2018 18:31
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That 2x salary at 35 thing just gives everyone I know or follow on Twitter really enormous agita. Like yeah, that's a great goal to shoot for but there's a lot of economic anxiety in this country and stuff like that doesn't really help. Especially when you don't have any numbers attached to it. This is probably a much better article, except that I don't know that their numbers are super realistic for wanting to retire... https://www.bloomberg.com/news/articles/2018-05-15/how-much-money-do-you-need-to-be-wealthy-in-america
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May 16, 2018 18:31
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Even if you retire with the average value the boomers describe as "wealthy," it's possible you'd extinguish your retirement savings with cash spending of $100,000 a year. source: https://firecalc.com
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May 16, 2018 18:34
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EAT FASTER!!!!!! posted:Even if you retire with the average value the boomers describe as "wealthy," it's possible you'd extinguish your retirement savings with cash spending of $100,000 a year. That’s not a huge problem, because if you accidentally spend an extra dollar you get the guillotine so you probably won’t last long enough to run out of money.
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May 16, 2018 18:39
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How about some truck equity chat to get back on track:a reddit poster posted:June 2016 I bought a new truck, I didn't like the truck I bought so I went back and purchased a different truck. It was all added to my loan, and it was the the biggest mistake of my life.
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May 16, 2018 18:43
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Guinness posted:How about some truck equity chat to get back on track: Why is it always lovely trucks? If you're going to have an American's median salary in car debt why not get something cool at least instead of a lovely truck that gets 4 MPG and looks ugly as sin.
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May 16, 2018 18:50
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