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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[–] theodewere@kbin.social 12 points 2 years 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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[–] super_user_do@feddit.it 11 points 2 years ago (1 children)

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

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[–] wintermute_oregon@lemm.ee 11 points 2 years 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.

[–] CCL@links.hackliberty.org 10 points 2 years 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@lemmy.world 12 points 2 years ago (24 children)

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

[–] orrk@lemmy.world 9 points 2 years ago (1 children)

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

[–] FlyingSquid@lemmy.world 6 points 2 years ago

True. Madoff wiped a lot of people out.

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[–] Jakeroxs@sh.itjust.works 8 points 2 years ago* (last edited 2 years ago) (1 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

[–] therealrjp@lemm.ee 6 points 2 years ago (2 children)

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 7 points 2 years ago (3 children)

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 6 points 2 years ago* (last edited 2 years 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.

[–] CatradoraSomething@lemm.ee 5 points 2 years ago

They're almost asking us to become Lenin at this point

[–] RagingRobot@lemmy.world 5 points 2 years 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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