What would you think are the advantages and disadvantages of a mandatory retirement age?
Wednesday, March 3rd, 2010 at
12:03 am
Other asked:
What factors may affect an individual’s decision to retire at a particular time, and what factors may affect his or her ability to adjust to retirement?
What factors may affect an individual’s decision to retire at a particular time, and what factors may affect his or her ability to adjust to retirement?
Filed under: Retirement
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Advantages: Some people really **** their jobs and need to do something else (I have a couple of people at work who can’t wait to retire).
More job opportunities will be available for younger workers. Retirees could have the opportunity to try out new jobs or hobbies.
People could use their retiree years to do volunteer work and help their communities.
Retirees could spend their incomes on travel and living costs and contribute to the economy.
Disadvantages: Some of us really love our jobs, and would like to continue doing them.
Some retirees may want to retire, but can’t afford it; or retire and live in poverty with rising healthcare costs.
In some professions, we may not have enough trained workers to replace the employees who retire (this is already happening in education and healthcare). The retirees might feel guilty about leaving their co-workers without support.
We lose a lot of knowledge and experience when older employees retire, that may not be able to easily replace. Some retirees may feel at a loss when they lose their status, position, and their daily routine.
We may have a lot people who are retired who need financial support than we have workers who can be taxed to support them (I’m at the tail end of the baby boomers, and doubt I’ll be able to retire…there probably won’t be money left or enough workers to pay for all the health costs of these retirees). Retirees might feel that they are a burden to society or to their families.
Good question!