Seniors Should Not Need Employment

Let’s try another avenue that hasn’t been explored as much as it should be. The word “seniors” is a generalization meaning both men and women.
Now, my wife for instance, is of the old school and was a house wife and mother to 3 kids for the better part of her younger days. This left NO time for schools, trades, or gainful employment of any kind.
Heck, even in those days women were not allowed to have a bank account unless it was approved by the husband but I digress.

By the time she Could go to work, it was, “get what you can and stick with it” kind of work because she had no background in anything that higher paying employers want.
As it is, even her SS is around half of mine (which is definitely wrong) because she didn’t pay enough into it to warrant a full check. The only thing the government does do for her is give her an extra hundred beans because she’s presently married to me.

Now, one could rationalize that , “when a woman is married the man is supposed to earn enough for both of them to retire successfully.”. In an ideal situation this might be true but how many marriages are indeed ideal and how many end up in divorce (or death) leaving the female to fend for herself and her kids?
Even if a marriage stays intact, how many coal miners, construction people and other blue collar workers actually make enough to make ends meet much less think of buying that nice RV and travel the world until they can rest in a ritzy retirement home?

Oh well, maybe they should have invested 10% of their wages to a mutual fund so they’d be set! Let’s see, 10% to the church, 10% to a Mutual Fund 33% (ideal) for house and utilities, 30% to the government, and 20% for kids clothes, groceries etc. Whoops! That’s over 100% so I’d best leave out the extra life insurance, mutual funds and that IRA I was thinking about and try to feed my kids better and save for their college.

Truth is, without even doing the research I am sure that if there are 1 in a 1000 or more seniors of our generation who can say that they are fully endowed with enough in the bank to say they are fully covered for their retirement, I’d be deeply surprised.

 

If you look back you have quoted the wrong one.

~*~

Shirley Martin: I'm not sure who you are speaking to but, I don't envy anyone. I was just participating in the conversation. But if we are going to start tossing around insults I can go back to my corner.

 

It can also be a Motivator.

 

^^^^^^^^^

 

I worked in retail, but even at management level the pay was not great. I was retrenched five times in my working life. Most of my working life was back when things were not politically correct, so age always came into it when applying for work, plus being asked was I going to start a family, etc. But I managed to stay employed most of the time.
Compulsory superannuation didn’t come in till I was in my thirties and on low wages it didn’t amount to much. Of course I tried to get better jobs, but the competition was very high for those.
In my late fifties my one remaining parent was in their nineties, incapable of looking after their self, and refusing to go into care. I was forced to give up work and become a full time carer. This situation went on for several years. I received the carers pension which kept me going(I was by that time divorced and supporting myself solely). My parents behaviour was horrendous and abusive and it was a miserable time for me. I was left with PTSD.
When I was no longer a carer I tried for employment but I was regarded as too old and I had been out of the workforce for years. I lived on my superannuation and a tiny govt benefit until I was old enough to get the aged pension. Now I am quite secure, I own my home, I’m frugal, so I can pay my bills and have some travel on a budget.
My point is, life doesn’t always play out the way you’d like it to. I would have liked a job that I could have stayed in for life, but that is rare. I’ve always worked hard, saved what money I could, but there was never going to be enough for me to be a self-funded retiree, and I don’t apologise for that.

 

I agree with you that seniors shouldn't have to work. Some choose to work to stay busy or not get on their spouses' nerves. Not every body is as blessed as you Hal. Some people had steady jobs but lousy benefits. My cousin worked for McDonalds, one of the biggest companies in the world, but had no benefits. She was a manager there for decades. Some people unexpectedly got laid off well before they thought they'd be leaving the work force. I read about a homeless couple who had both been high earners and thought they had done everything right as far as planning, saving, etc. The husband got sick to the point he could no longer work, therefore lost his insurance benefits and the huge medical and hospital bills wiped them out. They started living in a tent city in N.J. I read about them because there was an article about people living there being "evicted" by the town.

Like you I'm blessed to be collecting a pension and social security. But for many, defined pensions went the way of the dinosaur. I also retired in 1998 and am living a comfortable retirement.

 

Seniors?? What age group. Some at age 55 are referred to as seniors and nothing wrong with working at that age.

 

Ya know, the way I take it is that the OP is about Having to work versus wanting to work. I’m going on 71 and I HAVE to work and I like to work. No, not because we necessarily need the finances but I have to work and I do believe I will always Have to work.
It’s an ingrained thing and sitting around counting my fingers and toes just doesn’t seem like something I could get used to nor, to be blunt, think myself the proper man for being lazy and blaming it on my age.
I’m fit, I’m healthy and can do virtually anything I wish in the realm of work so why not? If there’s a few extra beans in it for us, that’s even better!

 

Even smaller companies have them. I sold pension plans to small companies.

 

But, Lon, just how many years ago did you do that? Pension plans really don't exist any more, or, at least, not that much anymore. Today, it's all about 401K. The old days of Pensions are pretty much gone. And, besides that, many, many people don't stay on a job for 20 years, or more, like they use to.

 

So very, very true! I've been laid-off and quit companies that ended up shutting down. When a potential employer wants a reference, it's very hard to get one from a company that is no longer in business. And, many people don't ask for a Letter of Recommendation, before they leave.

And, there are those that will chose a lower-paying, 8-hour a day, weekends off, type job so they can be with their families or simply don't like working long hours and weekends.

Basically speaking, I've only had one job, in my life, where I could financially afford to contribute to a 401k plan.

 

We were selling and installing 401 K plans in the 70's to small corps & partnerships. Keogh Plans to sole propritors. IRA's to individuals.