Anonymous wrote:Thanks OP. Wishing you luck.
Ugh, my early supervisors did tell me.
I didn’t take the advice and regret it no also had many years of paycheck to paycheck with my loans and housing (high col area).

That was me when I started working many years ago. It took me good 5 years before I understood what retirement saving is. I was young and dumb.

Anonymous wrote:Why didn't you start early OP?

OP probably did save *something* for retirement, but like many Americans, didn't save "aggressively". Reasons for that typically include:

- paying off student loans debt
- needing money to pay for living expenses
- buying a more expensive house in order to live in a better school district
- paying for private school or other kid expenses

Thanks OP. Wishing you luck.
Ugh, my early supervisors did tell me.
I didn’t take the advice and regret it no also had many years of paycheck to paycheck with my loans and housing (high col area).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why didn't you start early OP?

This is not helpful.

OP, so sorry this happened to you. I'm glad you ramped up saving in the last 5 years, and wish you well getting a new job. Def apply for unemployment ASAP.

What an absurd thing to say - of course it's helpful. A cautionary tail is often the best teacher.

NP. The previous poster was telling the person who said "Why didn't you start earlier" that their comment wasn't helpful. Not that the OP's story wasn't helpful.

I still want to know why OP wasn’t able to save. If you don’t, move on.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why didn't you start early OP?

This is not helpful.

OP, so sorry this happened to you. I'm glad you ramped up saving in the last 5 years, and wish you well getting a new job. Def apply for unemployment ASAP.

What an absurd thing to say - of course it's helpful. A cautionary tail is often the best teacher.

NP. The previous poster was telling the person who said "Why didn't you start earlier" that their comment wasn't helpful. Not that the OP's story wasn't helpful.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why didn't you start early OP?

This is not helpful.

OP, so sorry this happened to you. I'm glad you ramped up saving in the last 5 years, and wish you well getting a new job. Def apply for unemployment ASAP.

What? OP is not asking for helpful tips. It's a PSA!! Read the dang title.

PP is responding to someone questioning why OP didn't save sooner. There's nothing she/he can do about that now so it IS an unhelpful question/comment. The answer is it's too late to do something about it now. But younger people can do better, hence OP's decision to post.

Maybe you don't know what "S" in PSA stands for. It stands for "service". OP has started this thread as a lesson learned from their life experience. Asking why OP was not able to save it earlier is a factor people need to know so they can avoid the same mistake (i.e., OP's "service" to others).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why didn't you start early OP?

This is not helpful.

OP, so sorry this happened to you. I'm glad you ramped up saving in the last 5 years, and wish you well getting a new job. Def apply for unemployment ASAP.

What? OP is not asking for helpful tips. It's a PSA!! Read the dang title.

PP is responding to someone questioning why OP didn't save sooner. There's nothing she/he can do about that now so it IS an unhelpful question/comment. The answer is it's too late to do something about it now. But younger people can do better, hence OP's decision to post.

Sorry to hear about the lay-off OP. Thank you for the psa reminder though--I sometimes question whether I'm oversaving, especially when talking to YOLO types. But then I remember that being laid off or disabled at 50 is a lot more likely than dying at 50. ]

Hope you land on your feet!

Anonymous wrote:I just got laid off from my job. I am 51. I felt like I was on track for saving for retirement, but that did not include losing my job. I have been making 6 figures since my early 30s, but only started saving aggressively in the last 5 years. Boy, do I wish I saved earlier.

I got laid off at 47, sporadic employment after that, and then again at 56. 'Retired' now, but was a paranoid saver, plus spouse works, so we are good.

Sorry for your loss OP. Couple of things:
- If you don't have life insurance outside of work, get that taken care of asap
- If you can get long-term disability outside work, get that taken care of asap
- If you plan on looking for work, register a company asap and name yourself one of the principal along with your spouse. You can use this to 'fill in the blanks' in your employment history.

Good luck!

Anonymous wrote:

Anonymous wrote:Why didn't you start early OP?

This is not helpful.

OP, so sorry this happened to you. I'm glad you ramped up saving in the last 5 years, and wish you well getting a new job. Def apply for unemployment ASAP.

What an absurd thing to say - of course it's helpful. A cautionary tail is often the best teacher.

Anonymous wrote:

Anonymous wrote:Why didn't you start early OP?

This is not helpful.

OP, so sorry this happened to you. I'm glad you ramped up saving in the last 5 years, and wish you well getting a new job. Def apply for unemployment ASAP.

What? OP is not asking for helpful tips. It's a PSA!! Read the dang title.

It's something that isn't often talked about, but older workers are often first in line to be laid off, because their expertise is considered too expensive for their employer, who thinks they can squeeze a similar performance from younger people who are paid less, despite their lack of experience.

Sorry that happened, OP. I hope you can find something else.

Anonymous wrote:Why didn't you start early OP?

This is not helpful.

OP, so sorry this happened to you. I'm glad you ramped up saving in the last 5 years, and wish you well getting a new job. Def apply for unemployment ASAP.

Why didn't you start early OP?

I just got laid off from my job. I am 51. I felt like I was on track for saving for retirement, but that did not include losing my job. I have been making 6 figures since my early 30s, but only started saving aggressively in the last 5 years. Boy, do I wish I saved earlier.