Work Reform

9966 readers

1057 users here now

A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

All workers must be paid a living wage for their labor.
Income inequality is the main cause of lower living standards.
Workers must join together and fight back for what is rightfully theirs.
We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

Higher wages for underpaid workers.
Better worker representation, including but not limited to unions.
Better and fewer working hours.
Stimulating a massive wave of worker organizing in the United States and beyond.
Organizing and supporting political causes and campaigns that put workers first.

founded 1 year ago

MODERATORS

[email protected]

1006

What the hell is this shit? Instead of pushing for the return to traditional pensions, capitalism is celebrating the idea that Millennials and Gen Z may simply never be able to stop working. (www.cnbc.com)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

270 comments fedilink hide all child comments

Traditionally, retiring entails leaving the workforce permanently. However, experts found that the very definition of retirement is also changing between generations.

About 41% of Gen Z and 44% of millennials — those who are currently between 27 and 42 years old — are significantly more likely to want to do some form of paid work during retirement.

...

This increasing preference for a lifelong income, could perhaps make the act of “retiring” obsolete.

Although younger workers don’t intend to stop working, there is still an effort to beef up their retirement savings.

It's ok! Don't ever retire! Just work until you die, preferably not at work, where we'd have to deal with the removal of your corpse.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 7 points 1 year ago (1 children)

Let's say optimistically that you die at 70. That's 30 years living on 300k, so 30k per year on rent, food, utilities and medical. You could live indoors for that amount in some parts of America in 2023. But what about in 2053? Inflation could have a huge impact on your cost of living and if you're already living close to the bread line it's hard to find savings anywhere. You could put your money in stocks but likewise you're at the mercy of the market. It might be fine but if the market tanks when you're 65 you could be in big trouble.

[–] [email protected] 6 points 1 year ago (1 children)

$300k ÷ 30yr = $10k/yr

[–] [email protected] 7 points 1 year ago

To put it in perspective, working minimum wage ($7.25/hr) full time would earn around $15,000 in a year.