Why Are 20-Somethings Retiring?
bloomberg.com
Why Are 20-Somethings Retiring?
1–10 of 94 posts
Re: Why Are 20-Somethings Retiring?
#2It shouldn't be called retirement. It is probably more like a temporary hiatus.
Also, it isn't just 20-somethings. US employment has been somewhat of a raw deal in the last 15 years for all age groups. Some people have realized that working to live just isn't worth it.
There's a lot of bullshit work assigned in a typical corporate job, and this 'impedance mismatch' forces some people with financial strength to quit and do what they really want to do in life even if that means living on a much lower annual income.
Re: Why Are 20-Somethings Retiring?
#3It shouldn't be called retirement. It is probably more like a temporary hiatus. Also, it isn't just 20-somethings. US employment has been somewhat of a raw deal in the last 15 years for all age groups. Some people have realized that working to live just isn't worth it. There's a lot of bullshit work assigned in a typical corporate job, and this 'impedance mismatch' forces some people with financial strength to quit a…
> It shouldn't be called retirement.
In personal finance it's called, "Financial Independence." Which basically means you aren't necessarily done working for the rest of your life, just that working has become completely optional.
Re: Why Are 20-Somethings Retiring?
#4It shouldn't be called retirement. It is probably more like a temporary hiatus. Also, it isn't just 20-somethings. US employment has been somewhat of a raw deal in the last 15 years for all age groups. Some people have realized that working to live just isn't worth it. There's a lot of bullshit work assigned in a typical corporate job, and this 'impedance mismatch' forces some people with financial strength to quit a…
They're defining retirement as "you don't have a job and aren't looking for one", which is an egregious stretch of a definition. They're not financially independent or retired, they've given up looking for work worth doing.
Re: Why Are 20-Somethings Retiring?
#5It shouldn't be called retirement. It is probably more like a temporary hiatus. Also, it isn't just 20-somethings. US employment has been somewhat of a raw deal in the last 15 years for all age groups. Some people have realized that working to live just isn't worth it. There's a lot of bullshit work assigned in a typical corporate job, and this 'impedance mismatch' forces some people with financial strength to quit a…
> It shouldn't be called retirement. In personal finance it's called, "Financial Independence." Which basically means you aren't necessarily done working for the rest of your life, just that working has become completely optional. more info: https://www.reddit.com/r/financialindependence
"...you aren't necessarily done working for the rest of your life, just that working has become completely optional"
Optional - as long as you live in your parents' basement and don't want to start a family. :-)
Re: Why Are 20-Somethings Retiring?
#6It shouldn't be called retirement. It is probably more like a temporary hiatus. Also, it isn't just 20-somethings. US employment has been somewhat of a raw deal in the last 15 years for all age groups. Some people have realized that working to live just isn't worth it. There's a lot of bullshit work assigned in a typical corporate job, and this 'impedance mismatch' forces some people with financial strength to quit a…
Could also just be a statistical anomaly. Saying it doubled in that age range, it could even come down to "this is what I wish the situation was".
Thew title of this post is a little misleading and the wrong question to ask.
Re: Why Are 20-Somethings Retiring?
#7Earlier quoted context omitted.
> It shouldn't be called retirement. In personal finance it's called, "Financial Independence." Which basically means you aren't necessarily done working for the rest of your life, just that working has become completely optional. more info: https://www.reddit.com/r/financialindependence
"...you aren't necessarily done working for the rest of your life, just that working has become completely optional" Optional - as long as you live in your parents' basement and don't want to start a family. :-)
Dependence is the new independence!
Re: Why Are 20-Somethings Retiring?
#8Yea, I am sure the percentage of 20-somethings who are actually financially independent is less than .0001%. Everyone else inherited money or gave up all hope of finding a real job.
Re: Why Are 20-Somethings Retiring?
#9It shouldn't be called retirement. It is probably more like a temporary hiatus. Also, it isn't just 20-somethings. US employment has been somewhat of a raw deal in the last 15 years for all age groups. Some people have realized that working to live just isn't worth it. There's a lot of bullshit work assigned in a typical corporate job, and this 'impedance mismatch' forces some people with financial strength to quit a…
A lot of people found a way to live on low income obtained from parents, disability benefits, temp jobs, renting out grandma's apartment, etc. Sharing apartments or living with their parents, etc.
Given that a lot of job growth in the economic "recovery" (especially for younger people) has been in the minimum wage range, I don't blame them. If you can't even pay the most basic bills from a minimum-wage job to live independently, why bother?
Re: Why Are 20-Somethings Retiring?
#10It shouldn't be called retirement. It is probably more like a temporary hiatus. Also, it isn't just 20-somethings. US employment has been somewhat of a raw deal in the last 15 years for all age groups. Some people have realized that working to live just isn't worth it. There's a lot of bullshit work assigned in a typical corporate job, and this 'impedance mismatch' forces some people with financial strength to quit a…
They're defining retirement as "you don't have a job and aren't looking for one", which is an egregious stretch of a definition. They're not financially independent or retired, they've given up looking for work worth doing.
If they're neither working nor financially independent, what are they living on? Not a rhetorical question; I don't live in the US, and am a bit vague about its welfare system.
Is this essentially about people moving back in with family?