Glad I'm Not Looking for a Good Job

[Mulligan]

Read something in the paper today that was interesting and kind of scary for our economy. McDonalds average age of employee was 22 ten years ago. Now the average age of their employees almost 30! Don't frequent McD's too much, but I do notice older people working there more when I do.

 

[ziggy29]

On a related note, retirement for the masses as a middle class expectation (much less "early" retirement") will likely be remembered as a blip in time enjoyed by the 2-3 generations who got it.

 

[East Texas]

My spouse and I have our own version of an economic stimulus plan. We're going to enjoy our retirement to the fullest instead of taking a job away from someone who really needs it. It's our little contribution.....

 

[MuirWannabe]

On a related note, retirement for the masses as a middle class expectation (much less "early" retirement") will likely be remembered as a blip in time enjoyed by the 2-3 generations who got it.

My daughters just accepted their first job offer upon graduating with nursing degrees next month. They had a choice of 3 job offers at different hospitals across different major cities in Texas. That is the good news.

The bad news.....

I was trying to help them in their decision process by reviewing the benefits packages across the offers. This is something they really have no idea how to evaluate. It was discouraging. Each benefits program appears to have had a DB plan that was grandfathered and expired in 2005. They now have a DC plan that offers .35 for every dollar the employee saves up to 5% of their salary. Their starting salary is $45,000. Doing the quick math that comes to a whopping $787.50 the employer will contribute to their plan annually. Better than nothing. But just barely.

Hard to see how you get to FIRE with that.

 

[Gone4Good]

Read something in the paper today that was interesting and kind of scary for our economy. McDonalds average age of employee was 22 ten years ago. Now the average age of their employees almost 30! Don't frequent McD's too much, but I do notice older people working there more when I do.

I think Brewer had a sig that said something like "On average, we all have one testicle." Something similar may be happening with the average McDonald's employee age. There are an awful lot of 'retirees' working part-time at place like McDonald's and Wal-Mart. That may not say as much about our economy as it does about an older generation that never bothered to save.

An example, if Golden Arches employes five 18 year olds, the average age of their work force is 18. If they add one 75 year old, the average age jumps to 27.5.

So what is more likely? A bunch of mid-aged people flipping burgers? Or a combination of really young and really old people who both have a desire for part-time employment?

 

[Mulligan]

On a related note, retirement for the masses as a middle class expectation (much less "early" retirement") will likely be remembered as a blip in time enjoyed by the 2-3 generations who got it.

I'm afraid you prediction will be spot on. Though I certainly respect anyone who will put in a honest days work no matter what the pay is, Dick and Jane marrying and working at McD's for 35 years is not the recipe for a comfortable retirement.

 

[Mulligan]

I think Brewer had a sig that said something like "On average, we all have one testicle." Something similar may be happening with the average McDonald's employee age. There are an awful lot of 'retirees' working part-time at place like McDonald's and Wal-Mart. That may not say as much about our economy as it does about an older generation that never bothered to save.

An example, if Golden Arches employes five 18 year olds, the average age of their work force is 18. If they add one 75 year old, the average age jumps to 27.5.

So what is more likely? A bunch of mid-aged people flipping burgers? Or a combination of really young and really old people who both have a desire for part-time employment?

I should have elaborated but I didn't. The article stated that with 9.2 % unemployment that it was easier for them to get better applicants. More people with college degrees and 20 year careers in the rearview mirror are applying and working there. McD's is also trying to promote career potential and future managerial careers with the company. Not saying granny and gramps aren't working there because a few of them could shoot the average up, but the article didn't mention any of that, just people who normally wouldn't work there are now.

 

[lemming]

It usually is a mix of older (meaning older then me) and twenty somethings. Teens is the area, NoVa, don't get jobs.

Off topic -Muir. your daughters may be able to collect up to 5% of their wages from employee match if the put in the 15% of wages to get it. Probably a hard sell to someone just starting out.

 

[Nords]

... but I do notice older people working there more when I do.

Eh, probably nothing to worry about, they're just trying to figure out what to do all day... while looking for mental stimulation to keep from feeling bored & unfulfilled.

 

[East Texas]

Read something in the paper today that was interesting and kind of scary for our economy. McDonalds average age of employee was 22 ten years ago. Now the average age of their employees almost 30! Don't frequent McD's too much, but I do notice older people working there more when I do.

Did you read Scott Burn's article: Meditation on McDonald's, Part 2 - Registered Investment Advisor.