This advice really works! Five years: -$12,000 to +$100,000

Given that reality, it makes sense to continue updating skills for anyone still in the workforce.

That is a completely different issue. You can update your skills while working. If your income is high enough, you can consider trying to work less hours, or taking night/weekend courses.

Not able to comment on family circumstances. They vary. For someone in your ideal scenario, your advice might work; go to school, get a good job, work hard for the same company and retire.

I think you missed my point entirely. It has nothing to do with an ideal scenario. What scenario prevents someone from attempting to work hard for the same company and retiring? I don't understand how you think you have to be in an idea situation to try to work for the same company until retirement.

So are you arguing for or against the fact that pensions are going bust and on the way out - by and large? Arguing that "almost 1 in every 10 jobs" means less than 10% which means your point applies to a very small subsegment of the population.

Once again, I am not sure your reading comprehension is high enough level to continue to discuss with me. 1 in 10 is just the GOVERNMENT pensions. I wasn't even adjusting for unemployment. Adjusting for unemployment, its closer to 1 in 9 jobs, but lets stick with 1 in 10.

We have no way of knowing how many employers offer company pensions. We can safely assume it is at least another 10% of jobs.

Ok, so then you say "oh bro, 1 in 5 jobs is a very small sub-segment blabla..." Sure, but only because you are looking at ALL jobs. You have to adjust for the millions of entry level, minimum wage jobs, seasonal jobs, and other jobs which are inherently high turnover.

It could very easily be 1 in 3 career-level positions has a company pension available. And that is what we are discussing here. We are talking about being 25-35 years old, with either some education or some experience, and looking at a 10 year plan.

To suggest that company/government pensions should not even be a consideration for most 25-35 year olds, is ridiculous.

The risk is larger to assume you're going to spend three decades with the same company and retire.

Pulled out of your ass. Based on no facts at all.

Please, tell me how many people who actually want to spend long enough at a company which offers a pension, do stay at them long enough to earn a pension? If you don't have the answer, you are just making shit up. You are also not addressing any of the risks which come with changing jobs.

How many people subsequently end up in a period of unemployment after changing jobs for higher paying ones? If you don't have the answer to that, how can you possibly know what is the bigger risk?

/r/personalfinance Thread