Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Survey - Recession Turns a Graying Office Grayer
Old 09-03-2009, 08:19 AM   #1
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,412
Survey - Recession Turns a Graying Office Grayer

A new Pew Research Center survey on working and retirement.

Quote:
The American work force is graying -- and not just because the American population itself is graying. Older adults are staying in the labor force longer, and younger adults are staying out of it longer. Both trends took shape about two decades ago. Both have intensified during the current recession. And both are expected to continue after the economy recovers. According to one government estimate, 93% of the growth in the U.S. labor force from 2006 to 2016 will be among workers ages 55 and older.

./.

According to the Pew Research survey, nearly four-in-ten adults who are working past the median retirement age of 62 say they have delayed their retirement because of the recession. Among workers ages 50 to 61, fully 63% say they might have to push back their expected retirement date because of current economic conditions.
The summary is short, well written and easy to read. It can be found here Recession Turns a Graying Office Grayer - Pew Research Center
__________________

__________________
MichaelB 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 09-03-2009, 08:34 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Mar 2007
Posts: 3,323
I hope this trend continues. 'bout time. Always hated that mandatory retirement at 62 and often at 52 with megacorps.
__________________

__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
Orchidflower is offline   Reply With Quote
Old 09-03-2009, 08:51 AM   #3
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Quote:
Originally Posted by Orchidflower View Post
I hope this trend continues. 'bout time. Always hated that mandatory retirement at 62 and often at 52 with megacorps.
Mandatory retirement at 52? Where is that? Wish I worked there -- I assume they must also have pretty good pension plans if they put someone out to pasture at 52.
__________________
"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 09-03-2009, 08:51 AM   #4
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Quote:
Originally Posted by Orchidflower View Post
I hope this trend continues. 'bout time. Always hated that mandatory retirement at 62 and often at 52 with megacorps.

Me too! More workers to pay SS and Medicare taxes and they won't be in my way during the week.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Old 09-03-2009, 09:25 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,874
Quote:
Originally Posted by ziggy29 View Post
Mandatory retirement at 52? Where is that? Wish I worked there -- I assume they must also have pretty good pension plans if they put someone out to pasture at 52.
At MegaMotors they just made you wish you were retired after 50. Pension plan is (was) good, which is why it was tolerated.
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 09-03-2009, 09:47 AM   #6
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 Bikerdude View Post
Me too! More workers to pay SS and Medicare taxes and they won't be in my way during the week.
Ya got that right!!! I picked up the same view years ago from my Dad. After he retired, every time I'd head out to go to work, he'd thank me for my support..."Thanks for donating to my retirement fund today....keep on paying in so I get my SS check next month! Hahaha!"

Although I've got several more years to go before I can collect SS & Medicare, I routinely thank those who put their noses to the grindstone everyday, to help support me down the road in my 'golden years'! LOL!
__________________
Goonie is offline   Reply With Quote
Old 09-03-2009, 11:26 AM   #7
Thinks s/he gets paid by the post
ls99's Avatar
 
Join Date: May 2008
Posts: 4,792
Quote:
Originally Posted by Bikerdude View Post
Me too! More workers to pay SS and Medicare taxes and they won't be in my way during the week.
What he said.
I'll be collecting SS starting December.

And as Ed says: we thank you for your continued support.
(from the cranberry commercial)
__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 09-03-2009, 11:26 AM   #8
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
This looks like a job for Clairol.
__________________
CuppaJoe is offline   Reply With Quote
Old 09-03-2009, 12:32 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
One half of me says ...maybe there will be some SS left for me in 11 years.
The other half says ...they've put in their time and need a break.

MUST RESOLVE inner conflict...
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 09-03-2009, 02:12 PM   #10
Full time employment: Posting here.
hankster's Avatar
 
Join Date: Jan 2008
Posts: 645
Quote:
Originally Posted by Goonie View Post
Ya got that right!!! I picked up the same view years ago from my Dad. After he retired, every time I'd head out to go to work, he'd thank me for my support..."Thanks for donating to my retirement fund today....keep on paying in so I get my SS check next month! Hahaha!"

Although I've got several more years to go before I can collect SS & Medicare, I routinely thank those who put their noses to the grindstone everyday, to help support me down the road in my 'golden years'! LOL!
Goonie, You're welcome
__________________
"There is no dignity quite so impressive, and no independence quite so important, as living within your means." Calvin Coolidge
hankster is offline   Reply With Quote
Old 09-03-2009, 02:53 PM   #11
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,826
Ah, but you all missed the best tidbit in that article:
Quote:
According to the Pew Research survey, nearly four-in-ten adults who are working past the median retirement age of 62 say they have delayed their retirement because of the recession.
(emphasis mine)

This means that I really AM retiring early, since despite having a later retirement than most here, I will only be 61.4 in November when I retire. Now there's a reason to smile!

I have assumed for the past 20 years that when the baby boom reached retirement age, there would be multiple crises that would affect retirees and would keep people working longer (due to the sheer numbers of us). Seems to have happened, though I wish it hadn't. And then there are those people who just wouldn't have retired by 62 no matter what generation they belonged to. We all know people who died without ever retiring. To me that is sad, but to them? I do not know.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 09-03-2009, 03:20 PM   #12
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Quote:
Originally Posted by Want2retire View Post
....

I have assumed for the past 20 years that when the baby boom reached retirement age, there would be multiple crises that would affect retirees....
I've been thinking that way ever since high school; it seemed like when my class got to a special perq point, the perq would disappear. I was, like, "say what, the senior bench is no longer restricted to seniors, hey!"
__________________
CuppaJoe is offline   Reply With Quote
Old 09-03-2009, 03:31 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by Want2retire View Post
Ah, but you all missed the best tidbit in that article: (emphasis mine)

This means that I really AM retiring early, since despite having a later retirement than most here, I will only be 61.4 in November when I retire. Now there's a reason to smile!
We always knew you were way above average W2R.
__________________
clifp is offline   Reply With Quote
Old 09-03-2009, 03:34 PM   #14
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,826
Quote:
Originally Posted by CuppaJoe View Post
I've been thinking that way ever since high school; it seemed like when my class got to a special perq point, the perq would disappear. I was, like, "say what, the senior bench is no longer restricted to seniors, hey!"
EXACTLY.. Every time we reached an age, it was a problem. In 1975 I defined this sort of thing to myself and my ex as my theory of "baby-boomonomics". This is why I have been expecting a market crash and runaway inflation at retirement, and a health care crisis, all along. I have to admit that I didn't think about a real estate crash, though. Real estate seemed immune (oh well). Also I expect a crisis in long term care in about 20 years.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 09-03-2009, 03:38 PM   #15
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,826
Quote:
Originally Posted by clifp View Post
We always knew you were way above average W2R.
Aw!!! Thanks. At least this one time, I am retiring before most people can.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 09-03-2009, 05:27 PM   #16
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,769
Like Want2Retire, I also expect a crisis in long term care in the next 20 years. We have a huge swell of baby boomers who haven't saved enough for retirement and state governments on the ropes financially. There is going to be a real Medicaid burnout coupled with the fact that there are not enough direct care workers. Stay healthy.
__________________
WhoDaresWins is offline   Reply With Quote
Old 09-03-2009, 06:22 PM   #17
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Quote:
Originally Posted by WhoDaresWins View Post
Like Want2Retire, I also expect a crisis in long term care in the next 20 years.
The traditional media definition of "baby boomer" is those born from 1946 to 1964. Being born in 1965, I have long assumed that none of the government cheese being given out today will be around for me because the Boomers will have bankrupted the systems before I can collect.
__________________
"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 09-03-2009, 06:32 PM   #18
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Quote:
Originally Posted by ziggy29 View Post
... I have long assumed that none of the government cheese being given out today will be around for me because the Boomers will have bankrupted the systems before I can collect.
I'm doing my part!
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 09-03-2009, 06:32 PM   #19
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,826
Quote:
Originally Posted by ziggy29 View Post
The traditional media definition of "baby boomer" is those born from 1946 to 1964. Being born in 1965, I have long assumed that none of the government cheese being given out today will be around for me because the Boomers will have bankrupted the systems before I can collect.
This is one of the advantages of being a leading edge boomer (born 1948). The challenge has always been to scoot in under the wire before the door closes. Later boomers just have to wait and cringe, as do just barely post-boomers like you.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 09-03-2009, 08:46 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
Quote:
Originally Posted by ziggy29 View Post
The traditional media definition of "baby boomer" is those born from 1946 to 1964. Being born in 1965, I have long assumed that none of the government cheese being given out today will be around for me because the Boomers will have bankrupted the systems before I can collect.
Aha! I got 7 years on ya, whippersnapper.

So I'll save you some of the cookies*. Maybe.




*You didn't know about the cookie handouts ?
__________________

__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 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
RE investor turns down money calmloki FIRE and Money 2 03-05-2009 10:38 PM
Madonna Turns 50 Purron Other topics 43 08-18-2008 04:01 PM
Turns on a dime... REWahoo Other topics 13 02-01-2008 10:47 AM
Flanagan turns bearish cashflo2u2 FIRE and Money 17 01-14-2008 02:53 PM
The Graying Of Massachusetts bobn23 Other topics 1 06-17-2004 07:53 PM

 

 
All times are GMT -6. The time now is 07:27 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.