My read on this is pretty different from everyone else’s. He doesn’t say that he is destitute just that losing a job late in middle-age can propel even highly paid, well-educated workers into a situation where they need watch expenses in new ways. Mostly this just reads as him using empathy to situate the current crises for people. “It can happen to anyone” that sort of thing.
But certainly no one would accuse this forum of having an excess of empathy. Any chance to shit on someone I guess.
Yep. And this falls into the category of "you don't know what you don't know".
It's easy to be on the outside looking in, and pick apart what other people do. This forum is great at that.
Thing is...many people just aren't prepared because they don't SEE what is going to happen. And they don't see it in real life.
I grew up poor. I have been pretty frugal my whole life because I remember that, and I don't want to be there again. Fat fire folks, unite! Sure, we could retire now but I need security, so ... not gonna. I have seen what it means to be poor. My father got laid off at 56 during the trucking deregulation in the 1980s (he was a diesel truck mechanic) and got another job...got laid off again. Ended up working for $12k a year, no insurance. He took social security a little early I think (my parents divorced about 3-4 years after the layoff), so he probably was taking SS at 60. Now. My dad was always frugal too, he grew up during the depression, so he was able to live on SS (less than $12k a year) until he died at almost 82.
So...people who grew up like me or have SEEN things like this happen. I have a BIL who worked in a repetitive motion job and by his early 50s his body was wrecked. He's had surgery after surgery for his shoulder, back, and he's only 60 and will never work again. He certainly never expected to be unable to work at 53 or whatever, just like my dad never expected to be unhireable. How was he to know that law changes would eliminate the need for his job?
Similarly, a LOT of middle aged people that I see these days grew up VERY middle class so they literally don't know how to be poor. They literally don't expect it. It's a surprise. And THESE dads are the ones who, if they could, paid for their kids education because they saw poorer kids saddled with college loans.
People really like to shit on kids who take out too many loans, but look: these are often 17 years old kids who don't know shit. Their parents, in many cases, didn't go to college and figure "any degree is worth it". Same with counselors. They drink the kool-aid and BAM, too many college loans. Add to that a significant % of full time jobs these days literally don't pay enough to affording housing, food, and healthcare. That means there are winners and losers because there aren't enough good paying jobs to go around. Hindsight is 20/20 when you are 30 and realize that the jobs aren't there...but who was going to expect the downturn in 2008 or COVID-19?
There are different levels of education...if you've never seen poverty or the decimation of your chosen profession. If you've never seen someone over 50 become "redundant", then how do you know to expect it?