Comments on: For Some Jobs, this May be as Good as it Gets

By: TStrump

TStrump — Thu, 14 May 2009 04:42:51 +0000

I’ve actually been considering relocating for quite some time.
The cost of living here in Vancouver is high, but the jobs don’t pay that well.
Presumably, we’re not a huge corporate centre, but the weather makes it desirable to live here.
I would miss my family and the climate is very nice, which has kept me here for now.

By: MasterPo

MasterPo — Tue, 12 May 2009 22:53:20 +0000

I don’t think you can ever really get on the crest of whatever trend the pundits claim is happening. Whatever field is said to be on the rise, employers will want people with degrees or certifications in the field. That you can’t get overnight. Then comes the years of experience issue.

IMO, while I agree with lowering debt and saving also start building a nice portfolio of bonds or bond mutual funds. Reinvest the dividends until you need the cash stream.

By: Rob Bennett

Rob Bennett — Tue, 12 May 2009 18:10:10 +0000

The pace of change is so fast today that it is hard to plan how your career is going to unfold. I think that a good strategy is to save enough so that you can achieve at least a limited form of financial freedom early in life. Financial freedom opens up all sorts of possibilities for alternative careers.

Rob

By: HomeFree

HomeFree — Tue, 12 May 2009 17:57:01 +0000

I have found the biggest hedge against a lack of income growth is to get out of debt and live a less materialistic lifestyle. Thus, when my employer was forced to freeze wages this year (I’m in the non-profit sector) the impact was less painful because we have no debt other than mortgage debt. This may be easier for me as my sons are all grown and I’m not striving to save for college. In fact, I got an income boost when I paid that final tuition bill last year.

The materialistic thing plays itself out in some very different ways. For example, I drive a 1998 truck that I paid for with cash. The truck is functional, mechanically sound and I plan to drive it for at least the next five years. The point here is that I don’t need a new car to be “happy” because I’m happier without a car payment and higher insurance costs. Do you think I’d like to have a new car or truck? Absolutely! The difference is the “Opportunity Cost”; For us $25,000 is better invested in an appreciating asset that will help me reach my financial goals faster. The novelty of a new vehicle, no matter how sleek and shiny, will soon wear off and that $25,000 “investment” will have depreciated significantly while $25,000 would reduce my mortgage by nearly 30%!

Not having a mortgage payment propels us to a place where we can be more flexible with my employment or build wealth more rapidly.

We’re committed to this idea of paying off the home. Take a look at my chart (HomeFree) to see our progress.