Advice from a fifty something....
I am telling you all right now, if you have debt, get rid of it. NOW. Anyone who is living paycheck to paycheck and in debt because of mortgage, cars, student loans, credit cards, you need to sell that home you can’t afford and downsize. NOW. If you have two cars, get rid of one. You need to make sacrifices now and learn how to say no to debt or you will never acquire any savings. And you will end up laid off in your fifties. It’s the sad future for white men.
Your kids can share a room. Your wives can spend less.
If you are male and you don’t do this now, you are going to regret it.
I got rid of my big home and luxury car at age 43 and I never looked back. I have no debt now and even though I was laid off at age 49 and found another job making much less, so I was glad I downsized everything back in my early 40s.
It’s bad out there and it will be worse for the ones who make the most. I’m still looking to get back to making what I was, but it is not looking good as I am over qualified for most jobs and I made too much to be considered for others. It’s a horrible situation to be in a job you are not suited for but have to take to keep benefits and food on the table. The good times are over.
you can ignore the advice and be one of those 50 year olds who worked his whole life and lost everything when they lay you off, I really don’t care, but the writing is all over the wall, if you’re white, male and over 50, you’re done, so understand this now so you can save even more and spend less in your 30s and 40s.
Think that we all benefit from the advice in this post. Thanks, @XaBJc82-4pwn