Retirement age.

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schnitzel2k3
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Re: Retirement age.

Post by schnitzel2k3 »

Fanblade wrote: Thu May 30, 2019 4:15 pm
schnitzel2k3 wrote: Thu May 30, 2019 9:48 am It's a vicious cycle unfortunately as Baby boomers, in many cases, are still supporting their younger millenial children (usually under 30 at this point) who are stuck in lower wage roles, returning to school to increase qualifications to differentiate their skillset on paper, or trying to buy their way into the housing market (ouch). This support causes financial strain on their (baby boomers) retirement plans, and so they keep on trucking (or trying to) well into their retirement years.
So this vicious cycle that starts with boomer children failing to launch. Do you think Boomers not leaving there jobs might be a contributing factor?

This study says yes.

https://www.citylab.com/life/2014/06/ar ... bs/372652/
I agree with parts of the article that the progression of the millenial generation in many industries is stalled because the boomer generation won't leave the workforce, but they can't leave the workforce cause many are still supporting their children who have yet to find their feet financially. Hence the vicious cycle.

Then I went on to regail my fears of retirement and how I can see why so many boomers wanna keep their seats.

I was agreeing with ya Fanblade, just from a different angle is all.

Cheers bud,

S.
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laserstrike
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Re: Retirement age.

Post by laserstrike »

confusedalot wrote: Thu May 30, 2019 5:27 pm Gonna cal bs on this.......

Millenials are sitting in (eventually) super high paying seats. It started about 4-5 years ago.

They will be flying in the stratosphere in a matter of 1-2 years.

So.....this stuff about a handful of bored old guys taking away a tiny handful of jobs from the poor young is not supported by the stats.

The big guys are almost excusively hiring millenials.
What about the 45-50 year olds who have been waiting for that widebody job or are we only talking about millennials?

It's a bigger issue than just millennials.
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Diadem
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Re: Retirement age.

Post by Diadem »

confusedalot wrote: Thu May 30, 2019 5:27 pm Gonna cal bs on this.......

Millenials are sitting in (eventually) super high paying seats. It started about 4-5 years ago.

They will be flying in the stratosphere in a matter of 1-2 years.

So.....this stuff about a handful of bored old guys taking away a tiny handful of jobs from the poor young is not supported by the stats.

The big guys are almost excusively hiring millenials.
The hiring boom at AC that's driven the hiring everywhere else would have started five years earlier if they hadn't been forced to raise the retirement age. Millennials are finally getting to the left seat at the airlines, but it was delayed by Boomers who thought they deserved five more years of income than every previous AC pilot got.
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Re: Retirement age.

Post by Old fella »

confusedalot wrote: Thu May 30, 2019 5:27 pm Gonna cal bs on this.......

Millenials are sitting in (eventually) super high paying seats. It started about 4-5 years ago.

They will be flying in the stratosphere in a matter of 1-2 years.

So.....this stuff about a handful of bored old guys taking away a tiny handful of jobs from the poor young is not supported by the stats.

The big guys are almost excusively hiring millenials.
Finally somebody has a handle in a roundabout way....... demographics. We(the country’s citizens) are not producing little boys and girls, not much multiplying going on. I don’t know how many siblings Confusedalot’s parents produced but there were six of us on our side. That’s unheard of now and the lack of youngsters is starting to show, so there will be flying jobs no matter how many old buzzards decide to continue to flap their wings, also tis 100% certain the buzzards at some point will take their leave and/or keel over - at the right time hopefully :) . Confusedalot ain’t confused, no sir!
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yycflyguy
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Re: Retirement age.

Post by yycflyguy »

Old fella wrote: Thu May 30, 2019 8:20 pm
confusedalot wrote: Thu May 30, 2019 5:27 pm Gonna cal bs on this.......

Millenials are sitting in (eventually) super high paying seats. It started about 4-5 years ago.

They will be flying in the stratosphere in a matter of 1-2 years.

So.....this stuff about a handful of bored old guys taking away a tiny handful of jobs from the poor young is not supported by the stats.

The big guys are almost excusively hiring millenials.
Finally somebody has a handle in a roundabout way....... demographics. We(the country’s citizens) are not producing little boys and girls, not much multiplying going on. I don’t know how many siblings Confusedalot’s parents produced but there were six of us on our side. That’s unheard of now and the lack of youngsters is starting to show, so there will be flying jobs no matter how many old buzzards decide to continue to flap their wings, also tis 100% certain the buzzards at some point will take their leave and/or keel over - at the right time hopefully :) . Confusedalot ain’t confused, no sir!
Currently, immigration accounts for 71 per cent of Canada's population growth and has accounted for as much as 90 per cent of labour force growth in recent years. By 2034, the number of deaths in Canada is anticipated to exceed births and immigration is expected to account for 100 per cent of population growth.
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Fanblade
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Re: Retirement age.

Post by Fanblade »

Old fella wrote: Thu May 30, 2019 8:20 pm
confusedalot wrote: Thu May 30, 2019 5:27 pm Gonna cal bs on this.......

Millenials are sitting in (eventually) super high paying seats. It started about 4-5 years ago.

They will be flying in the stratosphere in a matter of 1-2 years.

So.....this stuff about a handful of bored old guys taking away a tiny handful of jobs from the poor young is not supported by the stats.

The big guys are almost excusively hiring millenials.
Finally somebody has a handle in a roundabout way....... demographics. We(the country’s citizens) are not producing little boys and girls, not much multiplying going on. I don’t know how many siblings Confusedalot’s parents produced but there were six of us on our side. That’s unheard of now and the lack of youngsters is starting to show, so there will be flying jobs no matter how many old buzzards decide to continue to flap their wings, also tis 100% certain the buzzards at some point will take their leave and/or keel over - at the right time hopefully :) . Confusedalot ain’t confused, no sir!
For your statement to be accurate Canada’s population would be decreasing. It’s not. It’s growing. Those babies are still being born, plus some, just in other parts of the world.
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Re: Retirement age.

Post by Old fella »

yycflyguy wrote: Fri May 31, 2019 8:29 am
Old fella wrote: Thu May 30, 2019 8:20 pm
confusedalot wrote: Thu May 30, 2019 5:27 pm Gonna cal bs on this.......

Millenials are sitting in (eventually) super high paying seats. It started about 4-5 years ago.

They will be flying in the stratosphere in a matter of 1-2 years.

So.....this stuff about a handful of bored old guys taking away a tiny handful of jobs from the poor young is not supported by the stats.

The big guys are almost excusively hiring millenials.
Finally somebody has a handle in a roundabout way....... demographics. We(the country’s citizens) are not producing little boys and girls, not much multiplying going on. I don’t know how many siblings Confusedalot’s parents produced but there were six of us on our side. That’s unheard of now and the lack of youngsters is starting to show, so there will be flying jobs no matter how many old buzzards decide to continue to flap their wings, also tis 100% certain the buzzards at some point will take their leave and/or keel over - at the right time hopefully :) . Confusedalot ain’t confused, no sir!
Currently, immigration accounts for 71 per cent of Canada's population growth and has accounted for as much as 90 per cent of labour force growth in recent years. By 2034, the number of deaths in Canada is anticipated to exceed births and immigration is expected to account for 100 per cent of population growth.
Good to hear, I fully support immigration. Met some recent people who came over, outstanding folks who will undoubtedly make positive contributions. By 2034 I probably won’t be around so the very best to continued immigration in those years and beyond.
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hst
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Re: Retirement age.

Post by hst »

oneplus wrote: Sun May 26, 2019 3:59 pm whats the $ threshold when one can retire?
Try using this government website. It’s not perfect but might give you some clues on what $$ you need to retire. As has been written earlier retirement goals are very individual.
https://srv111.services.gc.ca/generalinformation/index

I’d ideally be content to retire on 70% of my present income. That might not be doable and will likely be somewhere around 60%. That’s debt free living to a life expectancy of 85. If I go early the wife and boys will have a little extra. If I stick around longer my CPP and OAS plus 25% of present income should be enough to put me in a home. 😠
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Re: Retirement age.

Post by schnitzel2k3 »

hst wrote: Sat Jun 01, 2019 4:52 am
oneplus wrote: Sun May 26, 2019 3:59 pm whats the $ threshold when one can retire?
Try using this government website. It’s not perfect but might give you some clues on what $$ you need to retire. As has been written earlier retirement goals are very individual.
https://srv111.services.gc.ca/generalinformation/index

I’d ideally be content to retire on 70% of my present income. That might not be doable and will likely be somewhere around 60%. That’s debt free living to a life expectancy of 85. If I go early the wife and boys will have a little extra. If I stick around longer my CPP and OAS plus 25% of present income should be enough to put me in a home. 😠
That is an awesome tool. The big problem is knowing the level of inflation and what income will work in 20-30 or 40 years down the road for some people.

It's comforting seeing some big numbers with conservative estimates.

Thanks for sharing hst.

S.
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Re: Retirement age.

Post by ant_321 »

That’s a pretty neat tool. I guess I’m in better shape than I thought. With the rate I’m saving I should be getting $125k in today’s dollars assuming it’s in the ball park for inflation. Maybe I can afford that Porsche. 😉
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Re: Retirement age.

Post by CpnCrunch »

ant_321 wrote: Sat Jun 01, 2019 11:22 am That’s a pretty neat tool. I guess I’m in better shape than I thought. With the rate I’m saving I should be getting $125k in today’s dollars assuming it’s in the ball park for inflation. Maybe I can afford that Porsche. 😉
Note that by default it gives you an income until age 71. Change to 85 and it drops by over 60%. Look garefully at the income table by year...

Very misleading.
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Re: Retirement age.

Post by squash junky »

I retired at 51 yrs old.
I had 22 yrs of capt. under my belt with the last 10 as cpt 777
The chief pilot said I wouldn't be able to stay away as I loved flying A LOT :-D
Turns out I like fishing even more and a load of other stuff
Did it, done it, and even got the t-shirt.
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Re: Retirement age.

Post by laserstrike »

squash junky wrote: Sun Jun 02, 2019 7:41 am I retired at 51 yrs old.
I had 22 yrs of capt. under my belt with the last 10 as cpt 777
The chief pilot said I wouldn't be able to stay away as I loved flying A LOT :-D
Turns out I like fishing even more and a load of other stuff
Did it, done it, and even got the t-shirt.
Good for you. I'm jealous... That's my goal but I don't think it will happen.

No one from the generations after you will have the same opportunity.
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Re: Retirement age.

Post by CpnCrunch »

laserstrike wrote: Sun Jun 02, 2019 8:46 am No one from the generations after you will have the same opportunity.
That comment doesn't make sense...salaries are higher now than ever. Take-home pay for 777 captain is about $180k for $300k salary. Save 100k for 10 years and you'll have sufficient income from investments to be able to retire comfortably at any age. RSP doesn't even matter. Do the math...
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Re: Retirement age.

Post by confusedalot »

CpnCrunch wrote: Sun Jun 02, 2019 9:51 am
laserstrike wrote: Sun Jun 02, 2019 8:46 am No one from the generations after you will have the same opportunity.
That comment doesn't make sense...salaries are higher now than ever. Take-home pay for 777 captain is about $180k for $300k salary. Save 100k for 10 years and you'll have sufficient income from investments to be able to retire comfortably at any age. RSP doesn't even matter. Do the math...
Exactly. But hey, they just don't get it. Lots is missing in the millenial database.

A conversation with the ww2 people would blow their minds.

I consider myself lucky that I did not have to live through that. Had to endure the 9/11 fallout though, but the young ones don't even know about that.

Oh well, it is what it is.
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