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When No One Retires (hbr.org)
More and more Americans want to work longer -- or have to, given that many aren't saving adequately for retirement. From a report: Before our eyes, the world is undergoing a massive demographic transformation. In many countries, the population is getting old. Very old. Globally, the number of people age 60 and over is projected to double to more than 2 billion by 2050 and those 60 and over will outnumber children under the age of 5. In the United States, about 10,000 people turn 65 each day, and one in five Americans will be 65 or older by 2030. By 2035, Americans of retirement age will eclipse the number of people aged 18 and under for the first time in U.S. history.
[...] Soon, the workforce will include people from as many as five generations ranging in age from teenagers to 80-somethings. Are companies prepared? The short answer is "no." Aging will affect every aspect of business operations -- whether it's talent recruitment, the structure of compensation and benefits, the development of products and services, how innovation is unlocked, how offices and factories are designed, and even how work is structured -- but for some reason, the message just hasn't gotten through. In general, corporate leaders have yet to invest the time and resources necessary to fully grasp the unprecedented ways that aging will change the rules of the game.
What's more, those who do think about the impacts of an aging population typically see a looming crisis -- not an opportunity. They fail to appreciate the potential that older adults present as workers and consumers. The reality, however, is that increasing longevity contributes to global economic growth. Today's older adults are generally healthier and more active than those of generations past, and they are changing the nature of retirement as they continue to learn, work, and contribute. In the workplace, they provide emotional stability, complex problem-solving skills, nuanced thinking, and institutional know-how. Their talents complement those of younger workers, and their guidance and support enhance performance and intergenerational collaboration. In encore careers, volunteering, and civic and social settings, their experience and problem-solving abilities contribute to society's well-being.
[...] Soon, the workforce will include people from as many as five generations ranging in age from teenagers to 80-somethings. Are companies prepared? The short answer is "no." Aging will affect every aspect of business operations -- whether it's talent recruitment, the structure of compensation and benefits, the development of products and services, how innovation is unlocked, how offices and factories are designed, and even how work is structured -- but for some reason, the message just hasn't gotten through. In general, corporate leaders have yet to invest the time and resources necessary to fully grasp the unprecedented ways that aging will change the rules of the game.
What's more, those who do think about the impacts of an aging population typically see a looming crisis -- not an opportunity. They fail to appreciate the potential that older adults present as workers and consumers. The reality, however, is that increasing longevity contributes to global economic growth. Today's older adults are generally healthier and more active than those of generations past, and they are changing the nature of retirement as they continue to learn, work, and contribute. In the workplace, they provide emotional stability, complex problem-solving skills, nuanced thinking, and institutional know-how. Their talents complement those of younger workers, and their guidance and support enhance performance and intergenerational collaboration. In encore careers, volunteering, and civic and social settings, their experience and problem-solving abilities contribute to society's well-being.
I've invested as much as I possibly can in my 401k for decades. I don't eat out, I have a small home, and don't carry debt. Two stock market crashes have robbed over 2/3rds of my balances in retirement over time. Regardless of picking an exclusively index-fund, the losses have not been proportionally made up with gains. The short of it is - this is by design. The powers that be LOVE their "public good" slush funds. You're not actually supposed to collect from them, just pay in forever and then die for the good of the collective.
While the Racist Right just blames the fact that others are taking their jobs, while they are just unqualified and not skilled enough to do the work. Also it seems these work shy Left areas, seem to have a much higher level of productivity, then the areas predominately right.
I have seen people who are Left leaning, who are very hard workers, and often work harder then their jobs needs, I have seen Right leaning people who are also just as hard workers. I have seen Left leaning people who are lazy and just wants to get paid for minimum work, I have seen Right leaning people who are also just as lazy.
You seem to be confusing political leaning, with other traits which are not correlated.
There's an entire branch of applied mathematics, known as actuarial statistics, that literally does nothing but figure these things all day long. And since corporations pay them a ton of money to do these projections, they've gotten pretty good at them. As in, amazingly good.
You are welcome on my lawn.
People certainly are "retiring" in terms of collecting Social Security old age benefits.
There were about 2.8 workers for every Social Security Old Age old age, survivors, and disability insurance (OASDI) beneficiary in 2017. This is down from 3.7 in 1970, and 5.1 in 1960. Te ratio had been stable, remaining between 3.2 and 3.4 from 1974 through 2008, but now going down quickly.
The Social Security trustees forecast that the ratio of workers to beneficiaries reaches 2.2 by 2035 when the baby-boom generation will have largely retired.
or the stock market crashes and takes out your investments. Or your company outsources your job in your 50s and nobody'll hire you. Or any one of a dozen things out of your control happen.
But it's a good thing we didn't gut the social safety net and that nobody is doing anything that could impact your plans to retire.
I'm sure knowing all that is a real load off the old minderooni.
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The US has plenty of money to pay for Medicare for everybody who needs it. Please don't spread the lie that it's not "sustainable". It's simply "unsustainable" if the Republicans decide they don't want to pay for it.
I don't respond to AC's.
Don't forget Senator Diane Feinstein having to be reminded by her staff if she did or did not leak the Kavanaugh accusation letter...
Browsing at +1 - no ACs, I ignore their posts. So refreshing!
Then become your own master, dipshit. It's really easy unless you are a total fucking moron.
High taxes on cheap Chinese shit will level the playing field. I wouldn't worry about it unless you're Chinese or a Demonrat in their pockets.