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In recent years there has been an incredible number of stories promoting the new retirement. In most of the stories they promote working a paid job or moving to a new career but working long hours during your retirement age. People who work well into their 70s are shown off as being heroes. Many people claim they are retired but are still working 40 hours a week.
I wonder if it is a form of social engineering and a way to try to convince more workers to work well into their 70s. I doubt the average person would be able to get- or keep- a full time job when they are 70 years old, but that idea is highly promoted in the media.
Funny thing a few years ago the media was promoting early retirement and showed people taking it easy and quiting work at age 55. What is up?
I think aging and health issues are driving the activity level to more years, along with a declining birth rate to maintain the population (tax) base.
Just a few generations ago, being physically able to work into one's 6th decade was problematic. By age 65, people were ready for a well earned retirement for a few years.
Now, we're (as a generalization) enjoying much better health and living many more years, for a variety of reasons. So, there's no reason to pack it in and sit on the porch in the rocking chair while awaiting old age infirmities to shut us down.
I, for one, anticipate working full time ... which for me is 65-70 hours per week between job and ranch/farm ... until I'm in my 70's. Retirement for me would be just focusing on my ranch/farm chores, riding my horses, fishing in the backcountry, travel, etc. Between 65 and 75, I could easily bank another 1/2 to 1 mil in income, which would go a long way toward my "retired" fantasies ... larger sailboat, different airplane, sports cars, more dirt for the farm, travel, snowbirding in a warmer climate, staying in my ski resort home, etc. The big point is I intend to remain active into my 90's.
The actuarials suggest my generation has a life expectancy into our 90's. Since I grew up with healthy oriented diet and activity issues, and have maintained them all my life so far, I hope to do better than average for my age group to be active and healthy. Even my parents lived into their 80's, although the last few years for them were not good, health-wise.
In comparison, I have friends who were very fortunate to be able to afford to fully retire by their mid 40's. 15 years later, they're (for the most part) bored silly, and behave in self-destructive ways. There's only so many days you can ski all day, so many days you can play golf, so many days you can eat in 4 star restaurants three meals a day ... before you get jaded. I'd ask them (but it's not a good idea to do so ...) what they're going to do to keep their minds and bodies active for another 40 years? They're getting really schizoid now, and cannot grasp the concept of even going into charity work or business consulting ... giving back to the economic community that allowed their lives to be so financially rewarded.
IMO, extending a working life is not an evil plot to keep us working into the grave, but a valid program to continue to be productive for our lives. I'm looking forward to the adventure as I seek out new business ventures for the next 15 years.
I have seen some of that promoting people to work into old age as well. I kind of thought it was politically motivated.
They want to keep on collecting SS from all the baby boomers as long as possible. If you are in a large career like a CEO of a big company you might find your work rewarding and don't mind staying on for years. The average joe and Jane probably don't look forward to working into thier 70's.
Really if you can afford to retire than why would you stay working? Didn't many us work toward having a retirement so life could be a bit easier in our golden years?
The government would like to see people work until they are closer to 70 than to 65, to help with the longevity of the SS system as we know it. Many people, in fact, wouldn't mind working until they are 70. Unfortunately, no one has told Big Business that it behooves both society and perhaps their bottom line to keep older workers in place. Most companies actively work to 'encourage' their older workers to retire. It's great if that's what you want, but if you prefer to work it's not conducive.
Well, I will take a stab at analyzing it, too. I agree that there is a desire to keep the S. S. system afloat and later retirement enhances that. I also think that many in the media themselves probably enjoy their work and the celebrity it confers and do not wish to give it up. I note that many professionals or people who own their own businesses are virtually their own boss and are fulfilling their personal vision.
It is amazing to me how many people are out-of-touch with the majority of workers in this country. Millions of people work out of necessity and not because they are fulfilling a personal vision. There is just so much horse manure you can take from managment, especially as you get a bit older. It is just plain tough for many ordinary Joes and Janes in the workforce. Many people who work more physical jobs are simply worn out, despite all this talk about longer and healthier living.
I am not saying that an ordinary job cannot be fulfilling. But I just feel there is a class of professionals and people who are basically their own boss who have no idea what it is like for the average guy in the trenches.
Many want to get out and spend more time with their families and grandkids. Guess what! There are alot of people who do not define their lives by their jobs! They work to live and look forward to the day when they can do what they really want. They hang on because they need the health insurance even though they are bullied or demeaned by a deadend job after being passed over for that promotion.
So, do I sound like an advertisement for Death of A Salesman? I really don't mean to--cause there are many who do enjoy their work. But please, you professional and small business types who own your own business and are living your personal dream in your career--don't impose that thinking on all of us. That is all I have to say. I guess I vented a bit. Good will to all.
My husband and I have both had careers - we are definitely not defined by our work....we have lots and lots of interests beyond our professional lives. Family, church, friends, travel, music, gardening, reading, art, theater, service - to us those are the things that life is really about......you've heard the saying "I work to live not live to work"....that describes us to a tee.
In recent years there has been an incredible number of stories promoting the new retirement. In most of the stories they promote working a paid job or moving to a new career but working long hours during your retirement age. People who work well into their 70s are shown off as being heroes. Many people claim they are retired but are still working 40 hours a week.
I wonder if it is a form of social engineering and a way to try to convince more workers to work well into their 70s. I doubt the average person would be able to get- or keep- a full time job when they are 70 years old, but that idea is highly promoted in the media.
Funny thing a few years ago the media was promoting early retirement and showed people taking it easy and quiting work at age 55. What is up?
People should do what they want- save to retire early. To me, when I hear this, it sounds like big business promoting sr citizens working for 8.00 an hour for the good of big business---lolol- Captalism is a double-edged sword. Those of us who are smart will save, so we are not destitute. When I see srs. working at Wal-mart- they arent doing that for fun- Now if they were working as a tour guide or something-that's different. The government will NOT dictate what I do after age 55, when I plan to retire.
A lot of people are continuing to work past the traditional retirement age because they HAVE to. Many people do not have enough money to support themselves for another 20 to 30 years if they quit working at age 65.
Some people have nothing besides social security and would be trying to survive on an SS income of around $1500.00 a month or less. They just wouldn't make it. Financial experts say retirement needs to be funded by a "three-legged stool," social security, pension (or 401K), and personal savings.Many people are lacking one or two of those legs.
Think about how much you would need to live on for 30 years after age 65. An annual income of $30,000.00, perhaps? That's a total of $900,000.00! In the past, most people tried to have their home paid off before they retired. Nowadays, people are taking equity out of their homes and so still have mortages when they retire. People who cannot afford to even buy a home will have to continue to pay rent until they die.
Run some real numbers and see how much you think you will need when you retire. A lot of us will continue to work past "retirement age" because we have to.
Everything I have read lately states that it takes 80% of your working income to retire with a comparable lifestyle. Only the very few lucky ones can reasonably approach that level of income after quitting work. Also, unless you are 65/66 or are unusually lucky to retain your health insurance after you retire, waiting until SS kicks in is almost an imperative. But there's working and then there's "working." Nothing says you have to remain at your pre-retirement job although many people do. But both my husband and I fully expect to find "second careers" which will likely have nothing to do with the jobs we hold now. Because my husband does the kind of work that makes him hard to replace (mainframe software developer) he has already begun discussing his impending "retirement." He has told his employers that he would be willing to stay on for a while as long as they agree to allow him to tele-commute so we can go ahead with our move to NC. He would likely have to fly back a couple of times a year for product meetings but otherwise could work from home for a couple of years. At the same time he wants to do something more fun that utilizes his passion for wine so who knows? I on the other hand like the kind of work I do (admin support) so I am hoping to find a part-time position once we do move. Personally, I just like the idea of having a place to go where people are glad I'm there and where I can be useful. (And heck, I love to shop for clothes/shoes and having a job gives me a reason to shop as well as the wherewithall to do so.)
But something that hasn't really been covered here is that in most cases people who work stay healthier. Because I work I pay lots more attention to my appearance and that includes keeping myself fit (no less than three trips to the gym each week and walking in between). Most of the people we know who have retired just sort of let themselves go (not all but many). So we all have our priorities and needs so there isn't really a single answer to this issue.
Well, I will take a stab at analyzing it, too. I agree that there is a desire to keep the S. S. system afloat and later retirement enhances that. I also think that many in the media themselves probably enjoy their work and the celebrity it confers and do not wish to give it up. I note that many professionals or people who own their own businesses are virtually their own boss and are fulfilling their personal vision.
It is amazing to me how many people are out-of-touch with the majority of workers in this country. Millions of people work out of necessity and not because they are fulfilling a personal vision. There is just so much horse manure you can take from managment, especially as you get a bit older. It is just plain tough for many ordinary Joes and Janes in the workforce. Many people who work more physical jobs are simply worn out, despite all this talk about longer and healthier living.
I am not saying that an ordinary job cannot be fulfilling. But I just feel there is a class of professionals and people who are basically their own boss who have no idea what it is like for the average guy in the trenches.
Many want to get out and spend more time with their families and grandkids. Guess what! There are alot of people who do not define their lives by their jobs! They work to live and look forward to the day when they can do what they really want. They hang on because they need the health insurance even though they are bullied or demeaned by a deadend job after being passed over for that promotion.
So, do I sound like an advertisement for Death of A Salesman? I really don't mean to--cause there are many who do enjoy their work. But please, you professional and small business types who own your own business and are living your personal dream in your career--don't impose that thinking on all of us. That is all I have to say. I guess I vented a bit. Good will to all.
Too many folks forget those of us who work because we have to, and many times it is because of circumstances, not because of poor choices. No one person or one group should ever think they "understand" everyone; no one does. The best advice is for each of us to learn as much as we can then make the choices right for ourselves. If the choice we make turns out not to be the right one, we study some more and try to make a better choice. A lot of folks are lucky in that they had parents who taught them the best choice first; if you did, then you were indeed fortunate. The smartest person in the world is the person who has enough sense never to judge anyone AND realizes that the government system we have in place for many folks is all they will have to retire on. Rather than condemn folks for this, those who are brighter and/or have had better luck should pass their wisdom on to the rest of society while they are young enough to make a dramatic difference. Why retirement is not taught in junior high and high schools is beyond me (it may be in some, but it should actually be a required course for all).
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Media and postponing retirement.
It is propaganda-
Necessity
