what happens in your 40s / 50s

Originally Posted by quek

Thanks for all the responses. I like the "make hay while the sun shines" advice.

I work in an MNC with a small presence in Asia. Before age caught up with me, I used to think that the sky is the limit and that my salary would keep increasing year after year.

However, the reality is -- as I alluded to earlier -- not everyone can keep climbing upwards. Everyone has a different summit and there are only so many SVPs and CEOs, and all the rest of us will just be playing minor supporting roles.

Age, health, family and office politics will increasingly affect one's ability to work and make money. The older you are, the more dispensable you become.

Finally, to be brutally honest, "skills" are HUGELY overrated, including mine. I look around me and all I see are people, including myself, who just push papers and attend meetings day in day out. Any fresh grad with general intelligence and average speaking skills can easily replace people like me after working 2-3 years.

I am in my early 40s. I have been in a job that does not know what the future is like. But I stick with it for 10 years and make the most of it. I once read somewhere that as long as someone have 5 good years, he or she will be quite comfortable. I did just that and endure all the uncertainty, politics, etc. just to get my paycheck and bonus. 5 years gone by and I have accumulated a hefty sum that set my mind in a more peaceful state.

I think I can carry on for another 5 years to build up my safety net, that is if politics and changes do not push me out.

I guess when you reach late 30s, have to start to see how you can have 5 golden years. That's my take.

Originally Posted by Unregistered

I am in my early 40s. I have been in a job that does not know what the future is like. But I stick with it for 10 years and make the most of it. I once read somewhere that as long as someone have 5 good years, he or she will be quite comfortable. I did just that and endure all the uncertainty, politics, etc. just to get my paycheck and bonus. 5 years gone by and I have accumulated a hefty sum that set my mind in a more peaceful state.

I think I can carry on for another 5 years to build up my safety net, that is if politics and changes do not push me out.

I guess when you reach late 30s, have to start to see how you can have 5 golden years. That's my take.

Hi, thanks for sharing the advice regarding 5 good years. May I know your personal definition of a "good year"?

[quek]

I do not know if my 5 good years will ever come, or have they already gone past me unceremoniously and insignificantly?

[Hermit]

Quek, when you are in your 40s, it is the beginning of the end. At least it is for many of my classmates and friends, unless you are in a profession. But 40s is also the best age to venture into business, investments (if you have savings) etc. : )

Originally Posted by Unregistered

Hi, thanks for sharing the advice regarding 5 good years. May I know your personal definition of a "good year"?

I managed to save $ 1 million in the 5 years from salary, bonus. That's my 5 good years. It could differ from how others define it. But that $ 1 million is good enough for me.

Originally Posted by Hermit

Quek, when you are in your 40s, it is the beginning of the end. At least it is for many of my classmates and friends, unless you are in a profession. But 40s is also the best age to venture into business, investments (if you have savings) etc. : )

Hi Hermit, what the things that your friends do to counter the "beginning of the end"?