Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
ER - Our Part the Help to Achieve Full Employment
Old 03-28-2010, 09:47 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
ER - Our Part the Help to Achieve Full Employment

When I ER and exit my job. Someone will replace me that is looking for a job. It seems to me that I am helping out someone that need to find work.

I will be spending my savings to buy goods and services. My job replacement will be doing the same. This increases consumer spending.

I am creating a job opportunity for somebody out there and helping boost our economy by spending.

I suppose there is a possible downside (potential for inflation).

But, [tongue in cheek] couldn't we make convincing argument that ER is a selfless act...


On a more serious note: it seems that every boomer that retires over the next several years will help to achieve full employment and eventually a shortage in the labor force.

http://www.bostonherald.com/business...474&position=1

Combine Boomers retiring which requires replacement workers for their jobs and the healthcare boom to serve the additional 30mm americans that now have health care... America is likely to need to increase immigration to meet labor needs
__________________

__________________
chinaco is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-28-2010, 12:30 PM   #2
Recycles dryer sheets
 
Join Date: Jun 2009
Location: SoCal
Posts: 232
My only problem with that theory is, the way most Americans have under-saved for retirement, I fear that many boomers will need to continue w*rking, and actually leaving less opportunity to break into the labor force for the next generation...
__________________

__________________
caninelover is offline   Reply With Quote
Old 03-28-2010, 01:11 PM   #3
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
Quote:
Originally Posted by chinaco View Post
When I ER and exit my job. Someone will replace me that is looking for a job. It seems to me that I am helping out someone that need to find work........

......But, [tongue in cheek] couldn't we make convincing argument that ER is a selfless act...
When I ER'd my former employer hired 2 people to replace me. One was hired to do the laboratory work that I had done, and the other was hired to do everything else that I did. They also hired a 3rd person to replace a person that had retired several years before.

So by me retiring early, I acted very selflessly!!!
__________________
Goonie is offline   Reply With Quote
Old 03-28-2010, 01:13 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Quote:
Originally Posted by caninelover View Post
My only problem with that theory is, the way most Americans have under-saved for retirement, I fear that many boomers will need to continue w*rking, and actually leaving less opportunity to break into the labor force for the next generation...
Even though some may work longer... there are record numbers of people retiring. At best it will delay some of the waves of retirees.

I read a statistic that in 2008 that there were about 41M retirees/dependents and survivors of retirees drawing some sort of SS benefit.

There are over 78M boomers. Somewhere along the timeline the number of people retiring (on average) will almost double.
__________________
chinaco is offline   Reply With Quote
Old 03-28-2010, 04:44 PM   #5
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,950
I would think that my retirement was a selfless act, creating another job opportunity for someone who needs it, except...

My agency has been advertising my job off and on for over a year. They can't seem to find a sucker a qualified applicant to take it. Like thousands of federal jobs at www.usajobs.opm.gov , this job will remain unfilled. The pay is very low for the required qualifications (though federal benefits are better than most), and the location is not attractive to some applicants. I think they may have finally given up the search.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 03-28-2010, 04:49 PM   #6
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
This is usually my stock response to the charge that early retirement is "selfish." In an era of 15% "real" effective unemployment, what could be less selfish than giving up a job you no longer need so someone who *does* need it can have it?
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 03-28-2010, 05:08 PM   #7
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,152
Successful companies need the right mix of experience levels in their employees throughout their organization. In the last 2 years, 5 very experienced engineers in my field of expertise left the company leaving the company very short (only 1 person left). I know that my retiring will mean a job for someone else in the short term for sure but I know it is going to be hard to fill all those senior positions and am not sure about the long term job prospects if the company loses too many experienced individuals and starts to lose market share to our competitors (most of whom are not US companies).

However, I am happy that I am helping out someone that needs to find work and wish them all the very best for the future.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is online now   Reply With Quote
Old 03-28-2010, 05:33 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,281
Is the word I'm looking for, zero-sum? How can throwing out the old bums and replacing them with new -- on a one for one basis -- create (or even promote, for that matter) growth. Of course, if the old bums could keep up the spending during the full work-life of the new guys so an identical hand-off can take place, it (this plan) may have some merit.
__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
RonBoyd is offline   Reply With Quote
Old 03-28-2010, 05:35 PM   #9
Thinks s/he gets paid by the post
Leonidas's Avatar
 
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
My ER was purely selfish - but I did create all sorts of positions for people. The PD promoted 3 people in the cascade effect and opened a position for a new hire. I vacated the best captain's job, the second best lieutenant's job, and didn't hang around to take the best lieutenant's job or another one perhaps even better back in narcotics. The downside, and part of the reason I retired, is that the chief had to find some other poor sucker to go to internal affairs.
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Old 03-28-2010, 07:53 PM   #10
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
Quote:
Originally Posted by W2R View Post
My agency has been advertising my job off and on for over a year. They can't seem to find a sucker a qualified applicant to take it. Like thousands of federal jobs at www.usajobs.opm.gov , this job will remain unfilled. The pay is very low for the required qualifications (though federal benefits are better than most), and the location is not attractive to some applicants. I think they may have finally given up the search.
Eventually CNMOC will fill the Maury Library with retirees again, and some poor ol' retired Navy O-5 loser sucker will jump on that PD...

The problem with the pay is that they're only going to get candidates who are worth no more than what they're paying them.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 03-28-2010, 08:23 PM   #11
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,950
Quote:
Originally Posted by Nords View Post
Eventually CNMOC will fill the Maury Library with retirees again, and some poor ol' retired Navy O-5 loser sucker will jump on that PD...
Unfortunately the qualifications are rigorous and different enough from Navy qualifications that few if any poor ol' retired Navy O-5's would be able meet them. So the position has been repeatedly closed due to lack of qualified applicants.

Quote:
Originally Posted by Nords
The problem with the pay is that they're only going to get candidates who are worth no more than what they're paying them.
I took the job for the benefits package, which (for an older person essentially alone in the world, as I was at that point) can be a big attraction. Plus, I liked the location because I was living in Baton Rouge at the time so I didn't have to move very far, and this was long before Katrina. The pay was not great, but SOME people consider the entire compensation package when they apply for a job. At least, I did. Seems like kids these days would rather have a 5-figure 6-figure salary than a retirement package with health benefits.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 03-28-2010, 08:29 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,300
Quote:
Originally Posted by Alan View Post
Successful companies need the right mix of experience levels in their employees throughout their organization. In the last 2 years, 5 very experienced engineers in my field of expertise left the company leaving the company very short (only 1 person left).
Good point. When I think back to the crowd of 'old timers' at my MegaCorp ( ack, I was one!), there were some who were just amazing. Some with a rich, deep wealth of knowledge and experience to share, and still open to new ideas. Others that would be categorized as 'dead wood'.

And some 'fresh outs' were really bright, energetic and had new ideas. Get the best of the bunch together and magic happened. It is important to have a blend of the best.

-ERD50
__________________
ERD50 is online now   Reply With Quote
Old 03-28-2010, 09:48 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,453
Quote:
Originally Posted by W2R View Post
...kids these days would rather have a 5-figure salary than a retirement package with health benefits.
I think by 5-figure, you mean greater than 10^5 or $100K+.

However, I usually use 5-figure to mean $xxxxx, which is less than $99,999.

I think my definition is the more common usage. Others, please comment.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 03-28-2010, 10:47 PM   #14
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,950
Quote:
Originally Posted by NW-Bound View Post
I think by 5-figure, you mean greater than 10^5 or $100K+.

However, I usually use 5-figure to mean $xxxxx, which is less than $99,999.

I think my definition is the more common usage. Others, please comment.
typo - - 5-figure 6-figure
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 03-28-2010, 11:17 PM   #15
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
Quote:
Originally Posted by W2R View Post
Unfortunately the qualifications are rigorous and different enough from Navy qualifications that few if any poor ol' retired Navy O-5's would be able meet them. So the position has been repeatedly closed due to lack of qualified applicants.
Whew. What a relief! Too many METOCs get too comfortable in that rut and keep showing up for their paychecks long after they've stopped contributing...

Spouse still enjoys a good disaster but I can't even get her interested in having a home weather station.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 03-29-2010, 12:17 AM   #16
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Quote:
Originally Posted by W2R View Post
typo - - 5-figure 6-figure
Thanks, I wondered if you meant people should start at 4 digits as I did, $8500/yr in 1974.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 03-29-2010, 12:57 AM   #17
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,950
Quote:
Originally Posted by kumquat View Post
Thanks, I wondered if you meant people should start at 4 digits as I did, $8500/yr in 1974.
Yeah, and those doggone kids all demanding $10,000/year or more! Nah, just a typo.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
full-time employment & business on the side SingleMomDreamer FIRE and Money 8 11-04-2007 08:29 AM
solo401k from self employment/403b from part time job? igsoy FIRE and Money 2 09-17-2007 01:14 PM
MOVED: Re: Part-time Employment Cut-Throat Life after FIRE 0 07-21-2006 08:13 PM
Part-time Employment bookman51 Life after FIRE 49 07-20-2006 08:11 PM

 

 
All times are GMT -6. The time now is 12:47 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.