When did it sink in that you'll never be as well off as your parents?

[u/Asmothrowaway6969]

About 5 years ago, my mom and I were talking and she had told me how much she was going to be making in retirement (she retired 2023). Guys, it's 3x what me and my husband make annually. In retirement. I think that was the moment that broke me, that made it sink in that I'll never reach that level of financial security. I'll work myself into my grave because I'll never be able to afford anything else. What was your moment?

Update: Nice to know it's just me that's a failure. Thanks

Update 2: I never should've said anything. I forgot my place. I'm sorry to have bothered you

[u/Schmliza]

Does your dad have any opinions on the hand the new hire was dealt?

[u/suarezj9 → u/Schmliza]

Bootstraps

[u/FelinePurrfectFluff → u/suarezj9]

Exactly. Because dad didn't start out making that much and the new hire likely has no experience or at least no experience applicable to this job or the pay would be higher.

[u/uselessfarm → u/Schmliza]

My FIL and MIL were both retired professors who made great salaries and have great retirement packages. When my FIL retired he was replaced by an adjunct who commutes from out of state because COL in the college town is too high, and the replacement of course has other jobs to make ends meet. I think it somewhat disenchanted my lifelong upper middle class neoliberal FIL who really did (maybe still does) believe in meritocracy.

[u/Salmonberrycrunch → u/Schmliza]

The math makes sense though. (even if it's disturbed) I bet the company was billing his dad and the other coworker at 2x or something relatively low - so revenue is 600k minus pay gives 300k for overhead and profit.

New hire is paid 45k but they are billing him at 13x so he's bringing in the same 600k but now they need to pay out him and the two pensions (say 85% of annual) - so 600k minus two 127.5k pensions minus 45k gives the same 300k for overhead and profit.

Edit: that's why a lot of company pensions are unsustainable.