ER - Our Part the Help to Achieve Full Employment

[chinaco]

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/general/view.bg?articleid=1241474&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

 

[caninelover]

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...

 

[Goonie]

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!!!

 

[chinaco]

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.

 

[W2R]

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.

 

[ziggy29]

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?

 

[Alan]

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.

 

[RonBoyd]

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.

 

[Leonidas]

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.

 

[Nords]

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.

 

[W2R]

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.

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.

 

[ERD50]

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

 

[NW-Bound]

...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.

 

[W2R]

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

 

[Nords]

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.

 

[kumquat]

typo - - [-]5-figure[/-] 6-figure

Thanks, I wondered if you meant people should start at 4 digits as I did, $8500/yr in 1974.

 

[W2R]

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.