Retirement - White Collar vs. Blue Collar

[Missedone]

I have had a desk job since graduating from college and I am north of 60 and working full-time. Most of my friends and neighbors are retired and most retired in their mid-fifties from their blue collar jobs and/or government jobs. I used to prepare a good number of tax returns and noted that as a general rule, white collar jobs paid more than blue collar jobs, however, those blue collar jobs came with good retirement plans and benefits (at least they used to). I live in an area with a lot of industry so that may skew my observation, but it appears that if you want to retire early, a blue collar job with a good retirement plan is a good way to go! I am not complaining as I like to work and like my job, but every once in awhile when I see one of my neighbors boats hooked-up on Monday morning...

[Phoenix Jim]

I have had a desk job since graduating from college and I am north of 60 and working full-time. Most of my friends and neighbors are retired and most retired in their mid-fifties from their blue collar jobs and/or government jobs. I used to prepare a good number of tax returns and noted that as a general rule, white collar jobs paid more than blue collar jobs, however, those blue collar jobs came with good retirement plans and benefits (at least they used to). I live in an area with a lot of industry so that may skew my observation, but it appears that if you want to retire early, a blue collar job with a good retirement plan is a good way to go! I am not complaining as I like to work and like my job, but every once in awhile when I see one of my neighbors boats hooked-up on Monday morning...

and that would be me! Retired two years ago and love having the lake to myself

[yatesville88fan]

I worked blue collar and retired at 62. Our retirement is ok. But if you have a few more years to work max out your 401k

[Grizzly]

Or you could be smart and start saving for retirement with 401k's and IRA's when you are in your 20's and have almost $2,000,000.00 when you retire

[Missedone]

Or you could be smart and start saving for retirement with 401k's and IRA's when you are in your 20's and have almost $2,000,000.00 when you retire

I agree Grizz, that is the smart alternative, but retiring before hitting 65 and leaving a company group health plan may shrink that $2 million.

[Bob G.]

Or you could be smart and start saving for retirement with 401k's and IRA's when you are in your 20's and have almost $2,000,000.00 when you retire

This. Regardless of the color of your collar.

[BoatBuggy]

I agree Grizz, that is the smart alternative, but retiring before hitting 65 and leaving a company group health plan may shrink that $2 million.

If you have $2M in retirement savings and are hanging around for company health insurance, then you need to take a serious look at what your $2M is really doing.

[Big J Mac]

I am blue-collar, and now double dipping.

[yatesville88fan]

Or you could be smart and start saving for retirement with 401k's and IRA's when you are in your 20's and have almost $2,000,000.00 when you retire

Yes but we didn’t have 401k when I was in my 20s or30s. Don’t remember when 401k started.

[Collin C.]

Both have there pros and cons, best bet is to put as much as you can away for retirement.
At a minimum put in the max the company will match.
I feel fortunate with what the company does for my retirement and I raise my contribution every year another %.

They match 6% on the dollar and give another 3-9% based on age and years of employment.
This also includes OT pay and bonuses.
Even a with what they give me and what I contribute I still hope it’s enough.

I got a couple buddy’s that have none, I don’t know how they will make it in there golden years.

[local16]

Blue collar union trade retired in 2016 at 60 1/2. Wife worked 40 years at her job, both drawing s.s. And got lucky with some investments. Life is very good.

[Rangerdeepv]

Times have changed........not too man pension jobs out there unless it is gov't but some of the 401k contribution and other retirement plans can be great. Best thing we ever did was to get with a financial advisor and find out exactly what to do and not do. Probably has saved us a good chunk of change just on taxes alone.

[wiget10]

Keep your income below 60k and it’s subsidized. Most people are able to retire with better benefits then when they were working.

[tim3393]

I think the average white collar workers live 11 years longer than blue collar

[DonnieG]

White collar here. Worked 30 & now I'm on my 34th year of retirement. The Old Bell System Savings Plan and 100% Medical , Dental , Vision & Long Term Care for myself & wife is unheard of now. My wife is also a retired teacher with a nice pension. We aren't rich folks but we are doing ok.

[Axkiker]

Im 45.. I figure by the time I can retire the gvt will figure out a way to take it all from me anyways. Or ill die the day before.

[limitlong]

I retired this summer at age 55 from fed law enforcement. i try not to fish on weekends anymore.

[nojretlas]

I'll take my "white collar", I have tons of time off, I work from home, bonus each year and a good 401k. I'll take the stress free life and money up front, future isn't guaranteed!

[Bob G.]

Yes but we didn’t have 401k when I was in my 20s or30s. Don’t remember when 401k started.

Nov 6, 1978. Not all companies were on board yet. Company I worked for started it in the 80’s and I got in. Retired at 61 Jan 22.

[ProVle]

[QUOTE=limitlong;13286218]I retired this summer at age 55 from fed law enforcement. i try not to fish on weekends anymore.[/QUDDid you do training at FLETC?