this post was submitted on 23 Oct 2023
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Work Reform

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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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[–] mawkishdave 19 points 1 year ago (1 children)

It always got me how much it costs to be able to work.

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[–] geeuurge 18 points 1 year ago (11 children)

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.

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[–] [email protected] 18 points 1 year ago (1 children)

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 1 year ago (1 children)

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

[–] glimse 16 points 1 year ago (1 children)

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 1 year ago (1 children)

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

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[–] TwoGems 16 points 1 year ago (1 children)
[–] JDoos 11 points 1 year ago (1 children)

{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!

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[–] [email protected] 14 points 1 year ago (3 children)

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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[–] [email protected] 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.

[–] j4k3 12 points 1 year ago

The only solution is to eat the rich.

[–] Matriks404 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.

[–] [email protected] 11 points 1 year ago (1 children)

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

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[–] [email protected] 11 points 1 year ago (1 children)

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 12 points 1 year ago (24 children)

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

[–] orrk 9 points 1 year ago (1 children)

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

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[–] RagingRobot 9 points 1 year ago (2 children)

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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[–] [email protected] 9 points 1 year ago* (last edited 1 year ago) (3 children)

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

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