Finance and Economics > Investing and Saving

“I’m going to work until I die”

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FreeLancer:
Wise words, NWP.

RitaRose1945:

--- Quote from: NWPilgrim on October 05, 2017, 07:20:18 PM ---The worst thing is being forced into doing something you don't want to do, just to survive.  So it is good to have Plan A and Plan B for not having to work and be able to fully retire.

HOWEVER! A couple of other things to consider:

--- End quote ---

Karma given.

archer:
good info there NWP...

bigbear:
A little perspective is in order:  Until recently (like within the last 100-150 years), retirement was only for the very wealthy.  After Social Security and pension plans and all the other currency manipulation and industrial revolution...  It was built on ever increasing productivity, consumption, tax structures, and slight lever adjustments to shift some of it down the road.  Prior to that, most people worked in some way or other until they physically/mentally couldn't.  And they didn't have $X,000,000 to pay for medical costs to prolong life.  So they essentially worked until they died.  "Retirement" is a First World phenomena that may or may not be sustainable as a goal for the majority of people.  That doesn't mean to not plan for it.  That doesn't mean not be responsible. 

Economists haven't seen the wage growth they have been hoping for after the ongoing currency manipulation (low interest, helicopter money, QE).  They seem to think it's still coming.  But with developing nations putting pressure on domestic wages, it's easy to see the headwinds for "retirement" as we know it and as most people expect/hope for.

Smurf Hunter:

--- Quote from: bigbear on October 12, 2017, 02:27:44 PM ---A little perspective is in order:  Until recently (like within the last 100-150 years), retirement was only for the very wealthy.  After Social Security and pension plans and all the other currency manipulation and industrial revolution...  It was built on ever increasing productivity, consumption, tax structures, and slight lever adjustments to shift some of it down the road.  Prior to that, most people worked in some way or other until they physically/mentally couldn't.  And they didn't have $X,000,000 to pay for medical costs to prolong life.  So they essentially worked until they died.  "Retirement" is a First World phenomena that may or may not be sustainable as a goal for the majority of people.  That doesn't mean to not plan for it.  That doesn't mean not be responsible. 

Economists haven't seen the wage growth they have been hoping for after the ongoing currency manipulation (low interest, helicopter money, QE).  They seem to think it's still coming.  But with developing nations putting pressure on domestic wages, it's easy to see the headwinds for "retirement" as we know it and as most people expect/hope for.

--- End quote ---

I'm sure there are several other unintended consequences of the modern age.  The automobile allowed workers to live in suburbs and commute several miles each way.  This caused a boom in single family home construction a few generations ago.  Then of course the internet and mobile phones were believed to boost our productivity, but instead many of us are perpetually "on the clock" to a small degree.

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