Why We Need More Money As We Age

As we grow older we need more and more money. We might be fine with a minimum wage job when we're teenagers, but when we grow up we understand that our expenses are growing with time and so should our income.

The greatest increase in expenses comes with kids obsviously. Having one or two kids, usually can double, triple or multiple our expenses. Your wife has to stay at home when the kids are small, so basically the husband has to cover all expenses from rent to food, clothing and all the accessories.

Not only the expenses increase, but we also have less control over them. You just have to spend. Also when getting older, our healthy slowly degrades naturally, resulting in less work performance sometimes. It's harder to take two jobs than ever before.

Should You Get New Skills or Not?

Many times we get stuck at a dead end job. It does pay our bills and we are content with our lives, but if it's a low skill occupation, job security in the future is not so great. Before, like after the second world war, people keep the same job over their lifetime, such as being a mail man. But, nowadays, the technology is evolving at an ever increasing pace and is successfully replacing more and more humans with computers or robots in an ever widening array of industries. The advent of e-mail, in the long term will render the Post Office useless and mail men unemployed.  Self-checkout will make the cashier job a history, our favorite barista could be replaced by robot machines that would prep the coffee just the way we like it, etc.

Some jobs, that appeared to be secure forever, are no more, nowadays. And if we keep working a low skill job until late in our lives, we risk getting fired at one point and being replaced by machines.

Avoid Minimum Wage Jobs

Minimum wage jobs pay so low, you can barely make a living. Do you have kids or other dependents? If yes, minimum wage jobs will make sure you stay poor, for the duration of the job. The thing is that we cannot have a decent lifestyle with a low paid job.

Earnings from a minimum wage job will barely be enough to cover your living expenses. You won't be able to save any money. If you don't have any savings, than you're automatically vulnerable to external life shocks, such as a sudden disease or trauma. If you don't have money, you might not be able to pay for the best treatment necessary for you.

I think, staying at a minimum wage job long term is "life-threatening". Yes, sometimes, at moments in life, when we are teenagers, we have to take such a job, but we must persevere in searching for a better paying job and move as fast as possible.

When i see "Now Hiring" signs for minimum wage jobs, my heart fills up with disgust, because i know that people that will take those jobs will barely make a living. They will be unhappy.

I think corporations should pay higher salaries in lieu of their mega profits. I'm outraged by all the super rich multinational corporations that pay minimum. And people as well, should study or try harder to get a better job, for their own sake. GetABetterJob now.

What do you think about this? Feel free to sound off in comments.

Stay at the same job or get new skills?

I know so many people, that are working at the same job for decades. Year after year, they are doing the same job over and over. My question is: should we stick to only one job or try and learn some new skills on the side and try a better industry?

Why are people sticking to the same job for many years?

There are several reasons for that. If the job pays well, than of course, people are content. They are making a living, may be saving some money. The thing is that once you get kids, you need money all the time, you have no time to change jobs or study. This is the main reason people stick to one job. They will try to avoid quitting or getting laid off. The only way for them to start looking for a new job is to force them. Thus, if they get fired, they will have no choice but to look for another job or skill set.