Saturday, October 2, 2010
Older Workers Say No to Retirement
The number of workers who have been working past the age of 65 has been on the rise the past two decades. Workers are not retiring not just our of necessity but because some want to continue to work. This year 18% of workers will work past 65 and by 2018 the numbers will be up to 22%. Even wealthy workers will retire at older ages. At least half of the high wage earners will work past 65. These high wage earners are working because they enjoy working, not out of economic necessity.
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8 comments:
In a way this is good for the United States economy. If less people are retiring that means they are not recieving social security. Social security is a major problem and one of the proposals was to raise the retirement age anyways. People are living longer anyways too. So, overall this a great in my opinion.
This is fine in my opinion, and the social security comment makes sense as well.. It's good that people are working and moving the economy forward not just for money but also because they like it.. The only downside I the fact that other people will just have to wait their turn, before they can take over someone position..
I agree i think that its good that not many people are retiring yet. France is considering to moving its retirement age from 60 to 62 to cut government costs. Germany is moving their retirement age to 67. So the fact that people are not retiring at 65 is saving costs with out having to change policy. Maybe we will have social security when were older afterall
I also agree on all the comments above. If the wealthy workers are not retiring at older ages, the company can also maintain their skilled workers and do not need to find a replacement who are as good as them.
I agree with all the comments above. This also means that higher revenue is collected by the government from taxes especially if the higher income people are continuing to work.
In way as stated previously this is a good thing that people are continuing to work and therefore we do not have to spend more money through taxes on social security. However people who continue to work past retirement are keeping jobs that could be available for others who are looking to join the work force.
If you are simply working for money or doing uninspired work, then retire when you can afford to. Otherwise, you simply don't have the option. Unless you are passionate about what you do or your vocation IS your vacation, most people would probably prefer to retire.If you have been prudent and fortunate enough to spend less than you earn and invest the difference while you were employed all those years, retire and get on with your life.
I don't to work until I drop dead because I simply have seen people come to work using a cane or walker.The company doesn't want to invest in training for them because no one knows how much longer they'll be able to work. They refuse to let anyone else know what their job entails lest someone find out they are not indispensable. If forced into retirement, they die. I mean come on, Is your life really that boring? If your portfolio allows, move along and let the younger people advance. It's not an excuse for unemployed young people but at least the company knows they will be able to work for a while. For the elders, There's plenty to do when you retire - volunteer work, traveling, or maybe freelancing. If your sense of identity is about what you do rather than who you are, that's just selfish
I think this is a good thing. If more people are working long than they are saving the social security money/reserves. Also, it is good for quality of life. If they workers are workers just because they wanted to and not because they have to then that means more people are happy. The bad side of the situation is that with these people keeping their jobs they are preventing young energetic people from taking those jobs and being slightly more productive.
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