1026
submitted 11 months ago* (last edited 11 months ago) by [email protected] to c/[email protected]

Traditionally, retiring entails leaving the workforce permanently. However, experts found that the very definition of retirement is also changing between generations.

About 41% of Gen Z and 44% of millennials — those who are currently between 27 and 42 years old — are significantly more likely to want to do some form of paid work during retirement.

...

This increasing preference for a lifelong income, could perhaps make the act of “retiring” obsolete.

Although younger workers don’t intend to stop working, there is still an effort to beef up their retirement savings.

It's ok! Don't ever retire! Just work until you die, preferably not at work, where we'd have to deal with the removal of your corpse.

(page 2) 50 comments
sorted by: hot top controversial new old
[-] [email protected] 19 points 11 months ago

Barely mentioned: wage stagnation and inflation.

[-] [email protected] 18 points 11 months ago

I disagree with the editorialising from the title comment. To me it doesn't seem to celebrate or even opine anything, and that's actually kind of frustrating, because it's obviously bad that people are intending to work longer, regardless of their actual preferences.

Having read the article, to me it's not entirely obvious whether people feel that (A) they don't have enough to save regardless of their intentions (B) they feel saving for retirement is futile for whatever reason, or (C) even if they had extra money, they would prefer to spend the extra on here and now.

The article kind of hints that it's more B or C than A, but it isn't really explicit, and I think that would be the really interesting part of this story to report.

load more comments (11 replies)
[-] [email protected] 18 points 11 months ago

I feel like my impression of CNBC from a while back was that it just covered stocks and business mergers and stuff like that, but between this, COVID, and the UAW strike it's really been demonstrating its position as a newspaper for business rather than simply about it.

[-] [email protected] 17 points 11 months ago

Same as WSJ. They exist to manipulate people with pro-.1% propaganda.

[-] [email protected] 16 points 11 months ago

There was a post earlier from wsj about how it makes more sense to rent because mortgage rates are high right now. Because, you know, refinancing doesn't exist and landlords never arbitrarily raise rent

[-] [email protected] 13 points 11 months ago

Ah, I'll read that right after "back to office is better for workers!"

load more comments (1 replies)
[-] [email protected] 16 points 11 months ago
[-] [email protected] 11 points 11 months ago

{SIGHS} Don't eat the rich. That's how you get easily communicable diseases. Instead you should compost them and use them to grow a nice, non edible garden. Preferably one that's good at sequestering carbon!

load more comments (1 replies)
[-] [email protected] 14 points 11 months ago

greedy people have all the money, you just have to take it from them.. they're not going to give up their wealth and power because it's the right thing to do..

load more comments (3 replies)
[-] [email protected] 12 points 11 months ago

Pensions for the most part are gone and are not coming back.

It’s why I think Congress should require employer contributions to a 401k and a match. By law.

[-] [email protected] 12 points 11 months ago

The only solution is to eat the rich.

[-] [email protected] 11 points 11 months ago

Industrial society and it's consequences have been a disaster for the human race

load more comments (1 replies)
[-] [email protected] 11 points 11 months ago

As a worker I don't like the idea of a pension. It's too easy for some future regime to just get rid of my retirement fund. As long as wage slavery exist I would rather own my own retirement plan.

[-] [email protected] 12 points 11 months ago

It's just as easy for a market crash to get rid of your private retirement fund.

[-] [email protected] 9 points 11 months ago

you don't even need a market crash, just a corrupt investor managing the fund

load more comments (1 replies)
load more comments (23 replies)
[-] [email protected] 11 points 10 months ago

I don’t mind working to old age, as long as I can have 6 hour workdays. But let’s be reasonable, no 80 year old grandpa is going to be productive at work.

[-] [email protected] 9 points 11 months ago

It's interesting that we have a generation of politicians who refuse to retire, meanwhile the generations behind them see the option to retire going away. Maybe there is a connection?

load more comments (2 replies)
[-] [email protected] 9 points 11 months ago* (last edited 11 months ago)

As a millennial, I probably would also want to work a bit in retirement for fun, but not like the job I work now, something more chill or maybe freelance projects.

Obviously that'd require having lots of retirement savings so that working isn't a requirement

load more comments (3 replies)
[-] [email protected] 8 points 11 months ago

That makes no sense.

Speaking for myself, I plan to remain active for as long as I can manage because I've seen what retirement causes to people. Vegetating on a sofa in front of a TV is not a good way to spend your last stretch on this planet. But neither is working.

And even when I no longer have interest in working for a salary, I want to remain active. Hopefully I'll have grandchildren to help with, my dogs to train and a garden to tend. But I do want to retire and expect everyone to do the same.

The way the system is being "overhauled" is bonkers. I was listening to a podcast the other day where it was calculated that for the EU, by 2050, pensions would be around 45% of the final salary earned, with some exceptions reaching 95%.

I don't expect for my (hopefully) pension to cover for luxuries but I do expect it to aid me maintaining a decent, even if frugal, standard of living. I do not want a millionaire pension, like many paid today, over tens of thousands of Euros.

Be brave and set maximum values for pensions. I've known people with pensions over €5000; minimum wage in my country is €765x14: that's €10.710, yearly, before taxes. Do rest of the math in your head. A few years back, it was outed the highest pension paid in the country was around €120.000, per month. That is insane. Meanwhile, many receive pensions below €200.

load more comments (3 replies)
load more comments
view more: ‹ prev next ›
this post was submitted on 23 Oct 2023
1026 points (97.0% liked)

Work Reform

9821 readers
844 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

Our Goals

founded 1 year ago
MODERATORS