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Why Are 20-Somethings Retiring?

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31–40 of 94 posts

Re: Why Are 20-Somethings Retiring?

#31
post #13

Earlier quoted context omitted.

No, that's not it - of the people 20-24 who "don't have a job and aren't looking for them", the number of people who said it was because they were retired doubled. Other answers were "disabled" and "staying at home". That being said, I don't see how anyone can retire at 20-24 - if it was 30-34 it'd make a lot more sense. . .

Were those the only buckets? It might simply be confusion if they wanted to answer: "Can't find a job worth a damn"

I suspect it's more like "2% of people are cynical enough about the survey to tick 'retired' just to mess with the data".

Re: Why Are 20-Somethings Retiring?

#32
post #5

Earlier 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. :-)

Sometimes I wonder whether the next generation will even have parents who have houses with basements available for free/cheap. Maybe basements would be rented out to support family expenses. Or their parents could be living in much smaller places with no basements. Lately I have seen a few ads where owners are looking to rent out basements to families as cheaper alternative to apartments rather than as something where single folks would stay for short durations.

Re: Why Are 20-Somethings Retiring?

#33
Nothing gets in the New York Times unless it interests people over 50. Back when the boomers were young there were huge numbers of article about hippies, drugs and all that stuff because old people like to read about what young people are doing and try it out for themselves. It makes them feel young. Old farts have been obsessed with iTunes, iPhones, iPads, and all that i-stuff for Apple as long as they've been making it.

I think people of all ages and social classes are in a bad mood these days.

I saw some rich guy on CNBC this morning and he was pissed because we don't appreciate everything rich people do for us and it is not hard to find pissed off poor people. Lots of old people like Trump because they are pissed off about this or that.

People are pissed off about health care, obamacare, etc. It is so ungrateful when you consider that 200 years ago people had no idea why infectious diseases made you sick, there were no painkillers, no psych meds, no blood pressure meds, no insulin or thyroid hormone. No antibiotics, antivirals, no heart surgery, warfarin, etc. For almost all of human history faith healing was the first line treatment for everything and now people are pissed.

People get pissed off driving and don't think it is a miracle that we have cars, roads, gas, mechanics, etc.

Anyway you've got to get over this idea that any generation is special; often it is much more like 10% of the boomers did it, and 30% of X, and 50% of Y and 70% of the Millenials do it -- most generational change is a "diffusion of innovation" situation.

If you want to understand the post 2000 period you have to understand the 1960s and 1970s and a good book from that era is

http://www.amazon.com/uncommitted-alienated-youth-American-s...

and it explains a lot of things like the hippie phenomenon and then the cult boom, school shooters and why people who don't have it bad join ISIS, all that. It is also the first academic book to use the word "postmodern".

He says "Our age inspires scant enthusiasm." and that is it. People don't really believe anything they are told and just go through the motions. For instance, look at defined contribution pensions. There has been Republican FUD against Social Security since it began, and now we have these private plans which might work if people had money to put in them, and some of us are fortunate enough to do so, but a lot of people live paycheck to paycheck -- personally I still think investing in the stock market is the best massy thing to do, but looking at the chart of the last 20 years I am not going to blame anybody who thinks it is a casino.

People are not committed, they are not engaged, they don't feel like stakeholders, they don't feel that they are valued, they see organizations such as schools, colleges, the military, corporations as exploitative, treating people like racehorses, burning them out, throwing them away.

At my local startup incubator there was this conversation I just couldn't take from some guy who had all this bullshit and weird ideas about networking and at some point it's like "bud... if you are talking to a VC they want to hear you are working on product and talking to customers"

Yet, disengaged people see something like "Y Combinator" and they see it like Harvard Business School, a credential, social proof because if you are disengaged you aren't experiencing the joy of learning, creating, etc.

Re: Why Are 20-Somethings Retiring?

#34
post #17

Earlier quoted context omitted.

> There's a lot of bullshit work assigned in a typical corporate job yeah its called being young and being inexperienced. Gotta put the time in before you're qualified to enjoy the meat..

Which was true for the last generation, when you were supposed – and did – put up with the bullshit, because the company would care for you and offer you employment until retirement, and afterwards offer an adequate pension. Nowadays, in far too many companies all you get for hard work is getting downsized. I can't blame people for not wanting to put up with that, and there's not nearly enough reasonable companies ar…

You sound like a twenty-something whose historical perspective is lacking. It's been at least several generations, probably more, since that kind of job (expected lifetime employment with pension) has been widespread.

Re: Why Are 20-Somethings Retiring?

#35
They're not retired. They're probably selling drugs. Not kidding.

We have a lot of drug selling inmates (0.5% of Americans are in jail for drugs). It's also an industry people can get jobs in without experience and that booms in a recession. These retired kids are probably being honest in saying they're not just 'staying at home'. They're probably selling drugs. It's a job. Just not one they want to list on a survey.

Re: Why Are 20-Somethings Retiring?

#37
I know a guy who was an IT generalist making decent money, who met and married a woman who is a physican when she was in med school. Her first gig was to an impoverished rural area (to accelerate payments of med school loans), so he quit and went with her.

Now he's a 30-something stay at home dad. He does a few remote consulting gigs, more to stay in touch than for the money.

Re: Why Are 20-Somethings Retiring?

#38
post #8

Yea, 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.

In the early 20's? Plenty.

I lived through my first two years of college with roommates, savings, part-time/off-book bartending/bouncing and changing my long distance service.

Re: Why Are 20-Somethings Retiring?

#39

> When you're in your twenties you should be spending that time really exploring and thinking about the things that give you meaning. Once you start growing up and living a life more you won't be able to do that again. -Digit CEO (from video) I hate the idea that once you leave college and get a job your life of having fun is over. As though fiscal irresponsibility is necessary for finding your life's "meaning" and y…

If you want to make enough income to have financial security in the US in most industries that means taking a salaried job, and ~15 days of personal time off not including weekends and holidays. Its not that having to work 40 hours a week doesn't leave time enough to find your life's meaning, but its damn hard to do more than attend 2 major outside-of-norm events or go on any journeys that aren't majorly bookended by going back to work.

Re: Why Are 20-Somethings Retiring?

#40
post #17

Earlier quoted context omitted.

> There's a lot of bullshit work assigned in a typical corporate job yeah its called being young and being inexperienced. Gotta put the time in before you're qualified to enjoy the meat..

Which was true for the last generation, when you were supposed – and did – put up with the bullshit, because the company would care for you and offer you employment until retirement, and afterwards offer an adequate pension. Nowadays, in far too many companies all you get for hard work is getting downsized. I can't blame people for not wanting to put up with that, and there's not nearly enough reasonable companies ar…

You sound like a twenty-something whose historical perspective is lacking. It's been several generations, probably more, since that kind of job (expected lifetime employment with pension) has been widespread.
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