In 1960, the average salary in
the U.S.
was $5,315.
The average cost of a house
was $11,900. Mortgages were often 10-year
loans, since house prices were about double the average worker’s annual salary.
Even more amazing: it was
possible to pay off that mortgage early.
In that era, many people worked
their way through college, bought nice cars, houses, and vacation timeshares, raised
children, put them through college, invested in the stock market, retired early
and traveled the world – because the low cost
of living enabled them to save half of their income.
Hmm... Let’s look at America today.
Nearly two thirds of grownups are in the workforce.
Almost half of all employees also have a side gig.
So, a middle-class lifestyle that required one paycheck per household in the 1960s and two
paychecks per household in the 1990s -- today necessitates two
paychecks per person.
The median salary in
2019? $47,216.
The average sales price of a
new home in August 2019: $404,200.
Let me grab my calculator…oh, never mind. Let’s
just say that a new house no longer costs double the average worker's salary.
As income stagnates and the
cost of living rises, there is a growing urgency to earn that next paycheck from
full-time employment, a second job, or a side hustle. With today’s dollar worth a few slices of
bread instead of -- as in the 1960s -- four entire loaves, we need to find ways, literally, to earn more dough.
To further complicate
matters, you may transition from one job to another more often than
you expected. The example set by the Baby Boomers: an average of 12.3 jobs held between age 18 and 52. Changing careers may require
more education, and so the cycle of college / job search / new career can repeat throughout our lives.
To make good employment decisions, it is smart to gather and analyze useful
information. That is the goal of this blog. I will present a panoramic view
of the following topics:
- College degree programs
- Job search techniques
- Career opportunities
- Part-time jobs
- Side hustles
- Full-time entrepreneurship
- The popular FIRE movement (Financial Independence, Retire Early)
- Work options after retirement
I welcome you to travel with me on this
journey, and I look forward to reading your comments and feedback.
This blog is my personal opinion based on my research
and observations. No information posted
on this blog is intended as advice for the reader. You are encouraged to use your critical
thinking ability to form your own opinions and to determine the course of your life and career.
No comments:
Post a Comment