The system is fucked, almost nobody can retire that young. I wish I could retire at 50. I’ll be lucky to retire before I’m well into my 70s. They decoupled pay from productivity decades ago and we’ve been getting turbofucked by greedy assholes ever since.
When you’re in your 50s unless you suffering a neurological disorder, you’re still sharp and aware. Just the body is starting to wear down more so they need accommodations at times. Why hire them when they can just not hire anyone and force the rest of us to worker harder for longer?
possible if you are a doctor, a tech worker that has worked 10+years, a NURSE who did travelling. they have enough income and other investments to do that. but its usually 55.
We should remove the cap on social security taxes to keep the SSA solvent, and also to be fair rather than regressive, but that’s still not gonna cover retirements at 50.
I agree, it’s not the full answer, but It’s a good start.
Maybe instead of forced retirement, forced fewer hours? Heck, maybe a debt bailout for primary residence, student loans and any other life needing debt at 50, lower the age of Medicare to… 0, and I could start living off of very little dollars.
Okay so the thing is if you take the worst example of income inequality in the west, the US, Boomers as a class own 8x more than billionaires as a class.
The people you’d be taxing are exactly the people who would be receiving social security.
A lot of people are having kids later in life.
It’s tough to feel secure enough to retire at 50 when you have 2 preteens and a mortgage.
Even without kids, the math is tough - work 30 years (20-50) and then retire ~30 (50-80?). We’d need massive safety nets in place to make retiring at 50 tenable. I’m going to hit the labor market next year and am terrified by what I’m seeing out there
Yah!
It’s not like the penalties on withdrawing from your retirement accounts early actually matters?
Who isn’t a billionaire at 50?
You aren’t? You need to get a better job looser!
Right, because people not working for 35-40 years is good for the economy somehow? Work for 30 years then retire for more than that? This makes no sense, it’s not a zero sum thing but you can’t have the population idle for more years than they work.
I have a 401k - told the “planner” app to assume I will work to 70 & I might live to 90 and it says my plan has “longevity risk” . Basically that any woman who gets to my age may well get older than that.
I know that people don’t like retirement age going up and up, and it would be lovely to not have to work, but on the other hand all my kids are finally adults, so these are my available prime earning years.
At 50 you should be retiring to make way for new workers. That’s how you keep a healthy job market
Nono one retires at 50
The system is fucked, almost nobody can retire that young. I wish I could retire at 50. I’ll be lucky to retire before I’m well into my 70s. They decoupled pay from productivity decades ago and we’ve been getting turbofucked by greedy assholes ever since.
Wages haven’t kept up with expenses, and less people are able to retire early because of it.
At fifty?
How the fuck are people going to retire at fifty?
I’m in a fairly good position, but I would have no chance of any sort of life if I had to live for thirty years without working
Are you trolling, or are you stupid?
They’re young most likely and think that 40yos are “old timers”
When you’re in your 50s unless you suffering a neurological disorder, you’re still sharp and aware. Just the body is starting to wear down more so they need accommodations at times. Why hire them when they can just not hire anyone and force the rest of us to worker harder for longer?
possible if you are a doctor, a tech worker that has worked 10+years, a NURSE who did travelling. they have enough income and other investments to do that. but its usually 55.
Being able to retire at 50 means that you’ve contributed at least 25 years of labor. In my case about 35 years.
People get shorter prison sentences for committing murder.
Let’s start negotiating for this then: mandatory retirement at 50, paid for by social security taxes on remaining workers. Deal?
Paid for by social security taxes on millionaires and up.
We should remove the cap on social security taxes to keep the SSA solvent, and also to be fair rather than regressive, but that’s still not gonna cover retirements at 50.
I agree, it’s not the full answer, but It’s a good start.
Maybe instead of forced retirement, forced fewer hours? Heck, maybe a debt bailout for primary residence, student loans and any other life needing debt at 50, lower the age of Medicare to… 0, and I could start living off of very little dollars.
Okay so the thing is if you take the worst example of income inequality in the west, the US, Boomers as a class own 8x more than billionaires as a class.
The people you’d be taxing are exactly the people who would be receiving social security.
A lot of people are having kids later in life. It’s tough to feel secure enough to retire at 50 when you have 2 preteens and a mortgage.
Even without kids, the math is tough - work 30 years (20-50) and then retire ~30 (50-80?). We’d need massive safety nets in place to make retiring at 50 tenable. I’m going to hit the labor market next year and am terrified by what I’m seeing out there
Yeah, retiring at 50 works if everyone under 50 is a slave.
Yah!
It’s not like the penalties on withdrawing from your retirement accounts early actually matters?
Who isn’t a billionaire at 50? You aren’t? You need to get a better job looser!
What world do you live in where the average person can retire at 50!?!
I’m saying, that SHOULD be the standard, not that it is
Ok agreed. It should be the standard for sure.
You gonna support me? Pay my mortgage? Damned fool
That’s what we need a public pension system and robust public safety nets, ubi, etc
50yo dont retire in any country lol. 55 is the earliest people consider retiring, and its mostly people who earn 200k+year with investments.
Right, because people not working for 35-40 years is good for the economy somehow? Work for 30 years then retire for more than that? This makes no sense, it’s not a zero sum thing but you can’t have the population idle for more years than they work.
I have a 401k - told the “planner” app to assume I will work to 70 & I might live to 90 and it says my plan has “longevity risk” . Basically that any woman who gets to my age may well get older than that.
I know that people don’t like retirement age going up and up, and it would be lovely to not have to work, but on the other hand all my kids are finally adults, so these are my available prime earning years.
Yes because the workers aren’t paying enough tax to support the owner class (people over 50)