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‘Alarming number’: Boomers struggle to save enough for retirement


hegemony
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The last post in this topic was posted 830 days ago. 

 

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“Those beyond 65 — to me, a surprisingly few — only about half said they’re focused on performing well at their current job,” Collinson said. “If there was ever a time in history to be a superstar at your employer, now is that time.” 

 

That means you own it. Waiting on your employer to send you to training is as if to say the train has left the station. It is all up to you. You need to self train and learn on your own outside of work, and take initiative and spend the money to keep up. If you don't, just remember, there are new college graduates, and a migrant workforce that is hungry, capable, motivated, and highly educated. Get complacent, and your out. Simple as that. Your not entitled to anything, and no one owes you anything.

 

This is not news. We have known about this for years. Large segments of the population are nowhere near ready to retire even though are either eligible or nearing eligibility.

 

Underfunded is and has been a well known problem, especially for boomers. If you missed the boat, then your in for a rough ride at a minimum, and unlikely to make it.

 

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20 hours ago, cashnocredit said:

Not great advice:

 

 

I've found training employers nigh impossible.

 

+++ Agree. If one is 65, it's kind of late to expect employee training to help you get that life-changing promotion. It's also late to take all that advice out there to sock-away more in your 401K. Hopefully by that point you have savings and maybe a pension.

 

Let's face it. Things change as you get older. While it's possible you'll be promoted to Taco Bell area supervisor, or lead software engineer at Google when you're 67, it's not likely. You're going to slow down. Getting into coding at 67 might work for you, but winning the lottery will probably have better odds.

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Yeah. At 65 one probably isn't going to become the star performer. Older employees can sometimes leverage their experience. And it can be quite valuable. But more typically in the rapidly changing era we are in younger people tend to be quicker to adapt new technologies.

 

There is a bias toward considering older employees as less than current. And that's often the case. But not always. I've hired some really good older engineers that had been turned away at lots of other places. Likely just because of their age and assumptions.  But that was more the exception.

 

I'm 72 and really enjoy coding. Especially playing with the latest C++ compilers. But I'm also retired and so don't have to do stuff for work. Best of all worlds. I can just do open source coding and contribute it to public domain. Maybe help some others.

 

But do look carefully at my comment. It was poking gentle fun at an unintentional phrasing.

 

I've found training employers nigh impossible.

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