Money in the bank

Money in the bank

Something is amiss...

Our firefighters / policemen and other government folks retire frequently with pensions in the $75/$80k range (and can do so at age 50-55)!

We’d need about $2Mil in the bank (could spend 4% each year, to not outlive it) for that same annual retirement for life.

On another note, we spend 8.5 hours per day interacting with a (non-work) PC, TV, or smart phone, and we check (at work) our emails 30-40 times/hour (per Newsweek).

No wonder we’re always behind schedule!

Nearly $2Mil people quit their jobs in April.

Economists say this is a positive sign, as people tend to quit their jobs in a healthy economy.

Think I mentioned just recently, that there is a pent-up anxiety by our workforce to find something better in the not-too-distant future.

Harvey Dorland

Pacific Recruiting

936-597-6500 - direct

hdorland@ez2.net

Money in the bank

If you have a $300k 30-year mortgage at 5.17%, and pay an additional $200 on each monthly payment (going from $1642 to $1842 per month), then starting in year 5 you will have reduced your payoff time by 5 years and save $48k in interest!

About 25% of companies top performers said they plan on leaving their current job within a year (per Harvard Business Review survey of 20,000 high potential workers).

More work has been heaped on them since the recession, while awards, bonuses, and raises were cut back.

70% of todays 78 million baby boomers expect to work in retirement, and 14%-18% never plan to retire.

Harvey Dorland

Pacific Recruiting

936-597-6500 - direct

hdorland@ez2.net

Money in the bank

Last year U.S. residents paid down $277Bil of debt, while still keeping their savings rate at a respectable (for the U.S.) 3%.

Not including social security income, if you want to retire with $70k in annual income, you’ll need to have $3.7Mil in the bank (as interest rates are so low).

Interesting, in that this same $70k would put you in the top 25% of incomes.

To get in the top 5%, you would need $23Mil and your income would be $430k.

Insurance jobs in all categories are down from a year ago, except for health insurers (up .8%).

Ever hear of the Carlyle Group (private equity company)?

Their average return since their 1987 inception is 30%.

Can you imagine?!

Harvey Dorland

Pacific Recruiting