UnThreaded | Threaded | Whole Thread (183) | Ignore Thread Prev | Next
Author: hocus Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 757866  
Subject: The Blue-Collar Experience Date: 4/20/2000 11:42 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 4
One aspect of the Retire Early subject that I'd like to know more about is how blue collar workers perceive it. From polls conducted on this board, it appears that most participants are independent professionals (largely in the software field). But we have a few participants with blue-collar backgrounds, and I suspect that many others have spoken with blue-collar workers or have some opinions about their attitudes toward the Retire Early idea.

Here are some things I'd like to know about, if anyone can help:

1) Do blue-collar workers believe that they earn enough to support a Retire Early plan? While some might be hard-pressed to retire very early, it seems to me that others would have good prospects. Many blue-collar workers are paid union wages, and are paid extra for overtime. Also, union contracts generally provide for a high level of benefits, and, in some cases, traditional pensions.

2) It is my impression that, while many white-collar workers are married to their primary jobs (whether by personal inclination or company edict), blue-collar workers frequently seek part-time work for extra money. Such jobs could serve as a valuable source of extra savings. Do many see the retire early possibilities opened up by moonlighting income?

3) I presume that blue-collar workers are less inclined to spend vast amounts of money on status goods. They don't need to consider the effect of a house or car in impressing clients, so they might spend less. On the other hand, they might hear less about financial issues when growing up, and not be as aware of the importance of saving. Also, I get the impression that status spending has spread into the blue-collar world with the increased promotion of easy credit.

4) Blue-collar workers might be more independent in their thinking, in my estimation. It might be that they are less likely to hear about Retire Early ideas, but more inclined to act on them in cases where they do hear of them.

5) Blue-collar workers would have less of a problem leaving the job once they acquired sufficient assets. In most cases, they do not consider the job to be the core element of their personalities. On the other hand, they may have fewer outside interests, as a general rule. Or perhaps that's not so.

If anyone has any responses to these comments, or any thoughts of their own, I'd be grateful for hearing them. I'd be particularly interested if anyone could relate conversations they have had with blue-collar workers illustrating their mindset on the possibility of early retirement.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (183) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement