Plan so you don't outlast your money! Posted on March 11, 2022 at 10:26:22 AM by Career Planner
I sure hope you aren't trying to pass that for morning show humor!
Its not really the hourly wage thats' important...you'll spend whatever you earn if that's all you get from a company that isn't investing in you long term.
There are JOBS and there are CAREERS. Some just call you hired help, an expense and they'll get rid of you once you take home too much more than a cheaper worker who can do your job.
Unless you wanna work til you drop dead (and radio doens't keep anybody til they can draw Social Security), two thngs to think about:
1. With the anti-stroke, anti-heart disease drugs you'll be taking which we oldsters are taking now, you will live past 90, unless you OD or get cancer.
2. If you own your house and got a good retirement plan so you can at least buy a new car til you're too feeble to drive, you won't make it on low wages...because Social Security pays based on your highest annual incomes for like 3 years running. Youll barely survive on a $2,000 a month if you don't have a spouse.
3. Can you survive with a spouse since two incomes sharing expenses make it much easier to have a decent income after the kids are grown and gone. Two incomes with those Checks and a paid off house and you'll do nicely. Even better if your company gave youa reasonable retirement program.
4. Just remember, if you live to age 90, you'll be retired for 40 years, almost the same number of years as you could work in radio....which tends to top out before age 50.
5. Every few years, take stock. Reassess if you can meet your money needs for the rest of your life. Put a pencil to it and see if you can afford to stay in broadcasting and not run out of money for 40 years afer you age out of the industry!
No matter WHAT industry youre in, everyone should sit down with that pencil about eery ten years and assess if you're meeting your career income and job market skills...and building a retirement program. And if not, make changes. Might be worthwhile to work and go to school and plan to be doing something else ten years from NOW!