Why You Should Retire As Early As You Can
Some older workers can’t afford to stay working
If you’re an older employee, you may feel stuck. You long for the day when you can say goodbye to it all, but you really need that regular paycheck. As a 50-ish friend said to me, “It feels like my salary has chained me to my desk.”
But what my friend hadn’t considered is this: How much does it cost to work?
The truth is, income doesn’t just generate wealth — it also consumes it. The things you do to keep your job — getting dressed, jumping in your car, grabbing a coffee — can take a big bite out of your take-home pay.
A recent survey by videoconferencing company Owl Labs found that office employees fork over a ton of cash simply for the privilege of working. How much is spent? Let’s dive into the details.
Commuting
According to the study, which surveyed 2,000 full-time office workers last June, the average American spends $22 a day on commuting (including work-related gasoline costs, parking, and/or public transportation). This does not include auto maintenance, such as replacing tires or a cracked windshield, or upkeep such as car washes.
