11:35 a.m. on October 11, 2009 (EDT)
Well I find it interesting that my father worked 45 years, year-round, though wages were a lot less and only earned $300 a month in SSI. While I have only worked about 11 years out of the last 33 and am eligable at age 62 to get $800 a month. And that will rise a bit depending on what I earn in the next 8 years.
Both my parents together only made on $600 a month when they retired in 1983. My mother was 40 and my father was 42 when I was born in 1956, which is why they retired in 1983. 1984 was their 50th wedding anniversary year.
When he started working about 1934 when my sister was born, he made $5 a week as a fruit farmer. In 1945 when my brother was born, he was making about $40 a week as a carpenter, in 1956 when I was born he made $120 a week as a oil and gas furnace mechanic. And when he retired in 1983, I think it was about $200 a week again as a carpenter.
Interesting how inflation has gone. I started making $1.15 an hour as a cook in 1973, by 1983 minimum wage was $1.65 an hour, tho by then I was making $8.00 an hour working in Jackson Hole WY. By the mid 90s I was getting $9, an hour and my last good job was $13 an hour again in Jackson Hole. Wages are a lot better in JH than even in Alaska. Here in Flagstaff as around the nation its on $7.50 an hour M.W.
So unless one gets a good education and a better paying job, most young just starting out teenagers make only about $960 a month after taxes. Thats not too bad but with rent and school to pay for or a family its isn't much.
I stayed semi-retired all my working life. Once I started working in Jackson Hole in 1980 when I was 24 I found I could work from Memorial Day to Labor Day and make enough to go adventure traveling on and not work at all in the fall,winter and spring till the following Memorial Day. All I spent my savings on was food for backpacking trips in the Grand Canyon, the Gila Wilderness, Yosemite, Glacier, and the canyons of southern Utah.
But unlike many I have never owned or driven a car, had a family to raise or a morgage to pay off. So now at almost 54 I am no farther ahead in savings than I was at 18 in 1974. I pay my rent every month and buy groceries and save for my next adventure trip. My total bills a month are about $400 for just rent/groceries.
I have lived and worked and played all over the USA since I first took to the open road and trail in 1977, my first year out on my own after high school (dropped out in 10th grade), college(one year), the Navy (1 & 1/2 yrs, cooking in the officers mess)and vocational school (one year getting my GED and a cooking certificate). My adventureous life has been great but I wonder what I would have done had I worked hard and had a family instead?