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

[–] CatradoraSomething@lemm.ee 5 points 1 year ago

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

[–] faction2145@lemmy.world 5 points 1 year ago (2 children)

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 (15 children)

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

[–] SirStumps@lemmy.world 6 points 1 year ago (2 children)

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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