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submitted 1 year ago* (last edited 1 year ago) by ASK_ME_ABOUT_LOOM@sh.itjust.works to c/workreform@lemmy.world

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.

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[-] theodewere@kbin.social 14 points 1 year 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..

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[-] j4k3@lemmy.world 12 points 1 year ago

The only solution is to eat the rich.

[-] wintermute_oregon@lemm.ee 12 points 1 year 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.

[-] super_user_do@feddit.it 11 points 1 year ago

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

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[-] Matriks404@lemmy.world 11 points 1 year 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.

[-] CCL@links.hackliberty.org 11 points 1 year 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.

[-] FlyingSquid@lemmy.world 12 points 1 year ago

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

[-] orrk@lemmy.world 9 points 1 year ago

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

[-] FlyingSquid@lemmy.world 6 points 1 year ago

True. Madoff wiped a lot of people out.

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[-] RagingRobot@lemmy.world 9 points 1 year 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?

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[-] Jakeroxs@sh.itjust.works 9 points 1 year ago* (last edited 1 year 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

[-] therealrjp@lemm.ee 6 points 1 year ago

Lots of people start their working careers with the mindset of continuing to do some form of work in retirement. As you get closer, that opinion often changes.

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[-] qyron@sopuli.xyz 8 points 1 year 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.

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[-] M0oP0o@mander.xyz 7 points 1 year ago* (last edited 1 year ago)

HA, I hope people realize how a large amount of Gen X also are not able to retire. This is just accepted that now for people under a certain threshold of wealth retirement is but a fantasy.

[-] faction2145@lemmy.world 5 points 1 year ago

There must be an advocation for a universal monthly social security payment (and expanded universal medicaid) from birth. Fund them in the short term by eliminating the taxable income cap for OASDI.

If we were in a functioning society that responded to actual issues... Gotta finish the civil war first tho.

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[-] Stumblinbear@pawb.social 5 points 1 year ago

Preface: I'm not intending to come off as bragging, but providing some justification

I make plenty enough to retire by 45. Does that mean I'll stop working by 45? No, that sounds ridiculously boring. I'd rather work part time or do contract work until I'm physically and mentally unable because otherwise I'll become a vegetable. I enjoy my work and at the moment have no intentions of stopping at any point

[-] Rodeo@lemmy.ca 14 points 1 year ago

Okay but like, why don't you do something for yourself instead of working for someone else.

I'm convinced people with this attitude can't think for themselves and must be directed by a superior or they're useless.

Focus on yourself instead.

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[-] SirStumps@lemmy.world 6 points 1 year ago

I've been out of a job and going to school through the VA for 4 years. I love it. I do projects to improve my home,I visit family without limits, and go to different states on a whim just to see them. If I want to go to see or do anything in the middle of the day I just leave. Working until your too old to do anything isn't sounding great.

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this post was submitted on 23 Oct 2023
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