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Old 07-03-2019, 09:58 AM
 
2,159 posts, read 531,207 times
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Gray Wave of Workers Gives Slow-Growing World a Boost
In advanced economies, an increasing share of retirement-age workers are staying on the job


Quote:
Labor-force participationóthe share of people working or looking for workófor people aged 55 to 64 started climbing throughout advanced economies around the turn of the century, reversing decades of decline. Around 2010, participation by people age 65 and over began an upward march, reaching a near half-century high of 15.3% across the developed world last year.
The rise in labor-force participation of over-55 year olds in Italy, Japan, the U.S., the U.K., Germany and France since 2001 equates to a combined 18.8 million workers, or a 5.5% boost in their supply of labor (source: OECD). This has several positive implications: It could extend the current business expansion by providing employers with more workers as unemployment reaches new lows. It offsets the drag on growth of aging populations; and it shores up public finances.

Of course, not everyone is able to continue to work.
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Old 07-03-2019, 10:11 AM
 
Location: Living on the Coast in Oxnard CA
15,726 posts, read 26,757,800 times
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Quote:
Originally Posted by Mikala43 View Post
I think my Mom picks up an additional 2k - 2.5k per month driving for Lyft.

She absolutely loves it.
Always wondered, is that after expenses? You have the cost of the car, wear and tear, insurance cost, gas cost, maintenance cost. Is it worth it?
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Old 07-03-2019, 10:25 AM
 
60 posts, read 13,070 times
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Quote:
Originally Posted by bluestocking12 View Post
OP here. This thread has been SO great for dh and me. I can't thank everyone enough for their advice, information, food-for-thought, and support. At this point dh is negotiating working-from-home 2 days per week so that we can buy further out - a lot further out, a house we can sustain through retirement. He'd have 3 long commute days, but he has them from here now. I've also taken to heart budgeting and have gathered every single one of our expenses for review and rehab. It's my project!
Good for you
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Old 07-03-2019, 10:33 AM
 
2,443 posts, read 2,069,466 times
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Quote:
Originally Posted by SOON2BNSURPRISE View Post
Always wondered, is that after expenses? You have the cost of the car, wear and tear, insurance cost, gas cost, maintenance cost. Is it worth it?
I bet that is before expenses. I have also heard others say after expenses, it really wasn't worth it.
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Old 07-03-2019, 10:42 AM
 
Location: Middle of the ocean
31,613 posts, read 19,947,296 times
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Originally Posted by NewbieHere View Post
Thatís a nice amount, more than someone gets for SS at 62. Some drivers never get out of the car even, I think itís a safety thing.
More than double her SS.
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Old 07-03-2019, 10:46 AM
 
Location: Central IL
15,204 posts, read 8,513,923 times
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Originally Posted by NewbieHere View Post
Itís not a physical job. People keep saying older people in physical jobs canít stay working longer. At least itís another way to earn some supplement to your SS.
Many canít be a competent Uber drive, but why not try it first to see if you can be an Uber driver. Why be a naysayer. At least Uber will take people over age 55, no age discrimination.
Itís not one example, 90% of people of my Uber driver were retirees, at least thatís what they told me, some were way above 65. One could be 80 even.
I hear a lot of truck drivers have major back problems - there are many ways a job can be "physical".
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Old 07-03-2019, 10:46 AM
 
Location: Middle of the ocean
31,613 posts, read 19,947,296 times
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Quote:
Originally Posted by SOON2BNSURPRISE View Post
Always wondered, is that after expenses? You have the cost of the car, wear and tear, insurance cost, gas cost, maintenance cost. Is it worth it?
Gross. But then you can compute the depreciation on your taxes, write off insurance and other stuff, so not sure how that comes out in the end.

I just know my Mom has a lot more money than she did before, she enjoys doing it, it gets her out of the house (in manner where she is not spending money) and she can socialize.

She was pretty depressed being broke, having few friends.... now she is outgoing and friendly again.
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Old 07-03-2019, 10:59 AM
 
11,972 posts, read 5,111,061 times
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Quote:
Originally Posted by Mikala43 View Post
Gross. But then you can compute the depreciation on your taxes, write off insurance and other stuff, so not sure how that comes out in the end.

I just know my Mom has a lot more money than she did before, she enjoys doing it, it gets her out of the house (in manner where she is not spending money) and she can socialize.

She was pretty depressed being broke, having few friends.... now she is outgoing and friendly again.
Wow, good for her. It's so good to hear something positive like this.
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Old 07-03-2019, 11:01 AM
 
13,314 posts, read 25,550,246 times
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Quote:
Originally Posted by bluestocking12 View Post
OP here. This thread has been SO great for dh and me. I can't thank everyone enough for their advice, information, food-for-thought, and support. At this point dh is negotiating working-from-home 2 days per week so that we can buy further out - a lot further out, a house we can sustain through retirement. He'd have 3 long commute days, but he has them from here now. I've also taken to heart budgeting and have gathered every single one of our expenses for review and rehab. It's my project!

So glad you were able to get something useful from this discussion. Don't forget to check out Leominster!
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Old 07-03-2019, 11:51 AM
 
Location: SoCal
13,202 posts, read 6,313,926 times
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Quote:
Originally Posted by reneeh63 View Post
I hear a lot of truck drivers have major back problems - there are many ways a job can be "physical".
That’s a physical job, driving a truck because it requires stamina for long distance. But if people complain too much, the self driving truck from ElonMusk will replace them one day. Uber can be a short drive. The lady who picked me up said she refused to go to LAX, she only took short ride.

Last edited by NewbieHere; 07-03-2019 at 12:36 PM..
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