Why More Older Americans Never Want to Retire | WSJ Your Money Briefing
While some workers are literally counting the days until they can call it a career, there’s a growing segment of Americans who can’t think of anything they want to do less. They say they never want to retire.
Demetria Gallegos from WSJ’s Journal Reports joins guest host Dion Rabouin to discuss the growing number of people who say they’d rather keep on working.
0:00 What is the Never Retire movement?
1:19 Do people past 60 actually seem happy to keep working?
3:42 Are family members and friends supportive of someone's decision to work past retirement age?
4:23 Is the idea of what retirement is changing?
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Пікірлер: 174
- I invested in a retirement plan with ROI company and I'm very happy with the results. They offer great returns and excellent customer service.
I will never retire. I think retirement is a death knell... I am self-employed, love what I do, can arrange my own hours, choose my clients and up or downscale depending on what I am going through. I'm recovering from a back injury right now, so I only work remotely. No problem. I cut my hours by half. No problem. Once I feel better, I advertise amd work more again. Why would I want to change that ever or stop doing this? It keeps me and my mind active, gives me purpose, I do something useful that people actually need, so I feel that I make a (small) difference in the world. Why would I ever want to stop?
On my first day of work, I was planning for my retirement. At 49 years old I've accomplished my goal!
@NoName-rl3fh
Жыл бұрын
Awesome. What field? Just curious
@renemartin5729
Жыл бұрын
@@NoName-rl3fh drug dealing
@kimjohnson8471
Жыл бұрын
@@renemartin5729 😅😅😅😅😅😅😅😅😅😅
As someone who has worked with elderly, they have told me most do not want to retire because they lose sense of purpose and get bored. Many felt they were forced to retire too soon when they didn’t choose to do so.
Glad she spoke to a dozen people! I was worried the sample size for this research wouldn’t be large enough
@JD-lt7uv
Жыл бұрын
😂
@ooc6921
Жыл бұрын
哈哈哈哈
@chrisd1773
Жыл бұрын
The survey covered several hundred WSJ readers. Twelve was just the number of people interviewed for the story.
@BtcBroccoli
Жыл бұрын
@@chrisd1773 all 12 they selected for the interview never want to retire? 🤔
@chrisd1773
Жыл бұрын
@@BtcBroccoli I think you are confusing people interviewed specifically to answer why they don't want to retire, and the larger study indicating that more older Americans don't want to retire. I don't think we are expected to think that they selected 12 at random and all 12 don't want to retire, therefore 100% of Americans never want to retire.
The majority of people never retire because they can't. People who choose to continue to work is a minority not the majority.
@Elon_ReeveMusk
Жыл бұрын
*Leave me a direct message let's interact properly with the number you've seen 💌*
@jon6309
Жыл бұрын
If birth rates continue to decline millennials and gen z may have to work longer than what is considered retirement age today.
@brianharrin201
Жыл бұрын
Exactly!
@moonhunter9993
Жыл бұрын
Not true. I don't want to. I work for myself so noone can make me.
You should also have a vid titled : 'Why More French People Never Want to Work After 62'
I'm retiring the instant I'm able to. If that day ever comes.
@Elon_ReeveMusk
Жыл бұрын
*Leave me a direct message let's interact properly with the number you've seen 💌*
@stoundingresults
Жыл бұрын
You never know. good luck to you. Remember me when you hit the lottery and your crypto takes off.
I adapted my skills as an investor and renovation contractor to being a public insurance adjuster. I am now a large loss residential specialist and I handle complicated claims that have been under paid. I take great pride in the fact I have kept hundreds of families from facing financial ruin from a large loss. I turn 75 this year and have just renewed all of my licenses for another 2 years. Great pay, helping people and hang out with younger people - its great - why quit?
Not even trying to paper over the fact that Americans are wage slaves.
@Elon_ReeveMusk
Жыл бұрын
*Leave me a direct message let's interact properly with the number you've seen 💌*
@alexander15551
Жыл бұрын
Lol, tell that to the people working in the diamond mines of the Congo
@VictoriousGardenosaurus
Жыл бұрын
@@alexander15551 I can't afford the flight
It's interesting to have heard some Baby Boomers voice criticisms of the career paths of Millennials (delayed leadership roles and achievement markers, unconventional career paths), yet there's no acknowledgement for the role their choices make in the larger business ecosystem. It's wonderful that seniors are choosing to stay active and dedicated to their passions. But I do wonder what affect this will have if we delay younger workers (and by this I mean Gen X and older Millennials) moving up into these leadership roles. There is a risk that newer generations never gain these experience opportunities. In the long run, this could massively harm businesses and organizations when all of that leadership experience and institutional knowledge is loss within a short time frame. I hope organizations are looking for ways to apprentice younger workers under the guidance of boomer-age leaders. Gen X and Millennials have a great deal to bring to leadership (e.g. tech savvy, diverse perspectives) but likewise would benefit from the experience of their Baby Boomer predecessors.
People want to believe they want to keep working, but the truth is they have to so they can pay the bills. When you retire properly you have tons of free time and need even more money to make the best of that free time.
@stayingdisciplined1456
10 ай бұрын
But when you retire, your health drops, your brain sharpness drops, you have more free time to engage in health detriment behavior, you sit more, and rest more, and you rot away slowly or fast. Work is good. Just find a job you love to do. Thats the best way
Don't want to retire... we can't retire cause companies are cheap and not loyal to the workers that serve them. I have never seen a time where the Employee/Employer relationship has ever been more adversarial than now.
I will retire from my career..but i still want to be active. I'll consult, teach and mentor the youth. I might even open a business then...but just lying down all day doing nothing doesn't sit well with my soul.
Lol I am 32 years old and already mentally preparing myself to work post retirement age. Actually many multi millionaires are working pass 70 years old. The CEO of Disney and one of the producers of Star Wars is still working at 69 and is already a multi millionaire.
@NoName-rl3fh
Жыл бұрын
That is because they have nothing better to do in their heads and derive all sense of importance from their title and position. Take away that and their money and they'd feel empty.
@jon6309
Жыл бұрын
@@NoName-rl3fh well honestly at 32 my working conditions are very light and I am decently paid with the flexibility of working from home although I go into the office occasionally. It feels like pre-retirement at the pace of my current job but I’m just enjoying it while it last. I wouldn’t mind working at this pace during post retirement.
Did you talk to ppl that work in manufacturing and construction? Or just white collar?
It’s not that they don’t want, its more like they cant afford to retire.
The 2 owners of the private company I work for r in their early 80’s. They still come to work everyday. 1 day, 1 of them said to our team, “don’t think about retiring until I retire!” I was 😱, but I haven’t figured out if he’s joking or serious. 🤔
@NoName-rl3fh
Жыл бұрын
One day they'll slip up then be unable to work and it will go downhill from there. No offense, just father time is undefeated. Hopefully they have achieved all they want, cause when it happens there will be a lot they didn't do due to deciding their company was more important.
Some can't afford to and others only have their work left because they don't know anyone outside their job.
LOL! Senator Diane Feinstein. 😂😂😂
@Elon_ReeveMusk
Жыл бұрын
*Leave me a direct message let's interact properly with the number you've seen 💌*
Good for them, but stop painting this as the new normal.
@Elon_ReeveMusk
Жыл бұрын
*Leave me a direct message let's interact properly with the number you've seen 💌*
@NoName-rl3fh
Жыл бұрын
@Donny Brook no
Sad as it sounds, work gets my mind off how terrible i find life because i don’t have time to think about it.
Dion needs his own show! Great job as host.
@SprinterGlory
Жыл бұрын
I think he has his own show--Market Takes, or something like that. I think it posts weekly about market updates and things to look out for in the coming week, as well as basic background and education about investing topics, to appeal to market noobs.
It’s interesting that people at retirement age can’t find fulfilling lives outside of working. Says a lot about our never ending work culture as Americans.
@JD-lt7uv
Жыл бұрын
I mean, our ancient ancestors did the same - worked till they died! Retirement is a brand new concept (relatively speaking).
@lsethhill
Жыл бұрын
JD made a great point. Also I'd point out that the article didn't say they can't find fulfillment outside of work. Not retiring doesn't mean working full time. I can't imagine retiring because I love making new things and releasing them out into the world. Family life is great but it doesn't offer the same kind of challenges.
@NoName-rl3fh
Жыл бұрын
Honestly it is because they retire Too Late. If they did it earlier they'd ease into things like hobbies Easier. Plus they'd spend more time with their families.
@NoName-rl3fh
Жыл бұрын
@@JD-lt7uv most died much younger and grandparents helped raise grandchildren etc etc. But politicians can't have that now can they...
@actgeoj
Жыл бұрын
With so many people (not all of them are young) driving various tech ecosystems it is reasonable people who rode the technology wave of the last 30 plus years would be reluctant to retire as they will not have access to the same tech in retirement. Facilitating user groups and doing volunteer work is not the same as having access to the tech in corporate America.
I’m 61 and have been working steadily since I was 18 and I don’t want to stop. The weekend and vacation days are good enough for me.
Never retire? That sounds absolutely horrifying. I can understand if you *must* work because you're financially unprepared for retirement. But who are these poor souls who can afford to retire comfortably but can't seem to find enough non-work activities to occupy their free time?
@melissachartres3219
Жыл бұрын
The poor souls are frequently people who have careers, not jobs. Their daily grind isn't backbreaking. Some actually enjoy it. Physicians, dentists, lawyers, engineers, jewelers and more... all have large amounts of retirement aged people in them who continue to work- they just cut back their hours but still want to be useful. This is not the case with diesel mechanics or roofers... their bodies give out and they can't WAIT to stop sweating their 8alls off every day.
@davidsebastianelli1326
Жыл бұрын
Only boring people get bored...
I someone who is 22 & self employed, I have zero intention on even retiring.
Typo: “want to” should be “can”
Continue pushing that “pushing yourself up by your bootstraps” mentality and ignore the fact that we're all indentured servants to our corporate overloads. WSJ continues to do the legwork of the billionaire class while they make the real money off your hard work...
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
@SierraLeighanne
Жыл бұрын
@Bradleyschaeffer376
Жыл бұрын
How can I connect with him ?
@MichealTanner141
Жыл бұрын
Search his full name online you will find his webpage,drop a msg
@AnnaKrueger809
Жыл бұрын
The reason money issues
@Elon_ReeveMusk
Жыл бұрын
*Leave me a direct message let's interact properly with the number you've seen 💌*
@mitchellquartero
Жыл бұрын
@Donny Brook true
@thisisme3238
Жыл бұрын
@Donny Brook Probably both
Dion!!
Don’t want and Cant - really 2 completely different things
Post rationalization. They aren’t retiring because they can’t retire. Between increasing healthcare costs, general inflation, and longer lifespans, retirees need to make a smaller amount of money stretch further.
@melissachartres3219
Жыл бұрын
This is undoubtedly the case for some... not so for others. I would presume that an old man who is a dentist- generally reaches age of retirement with plenty of money, but if he decided that he didn't want to retire... it would be because he would miss the daily routine, would be allowing a tremendous skill set to go to waste, and because he'd have to say goodbye to patients that he'd grown to have a personal bond with. He might work fewer hours, and stop taking on new patients, but he'd continue to work if he wanted to work. Some people don't really want to retire because they know that retirement kills.
I think we should keep working! The idea of retirement just promotes laziness. Other countries still have working aged adults over 65. Social security is not enough
@gamingbtc
Жыл бұрын
Cool you keep working and pay taxes till you're 90. Hurry up, there's a pothole on the road in front of my house.
@lsethhill
Жыл бұрын
Meanwhile in France... 😂
@NoName-rl3fh
Жыл бұрын
Work by choice is far different than by lack thereof. Also perhaps you are still too young to know what real aches and pains are...
This is why it’s getting harder and harder to move up in the workplace. You’re literally waiting for someone to die to get a promotion
FYI This is a podcast, not a video.
FIRE vs Never retire. Would be interesting show.
Thank You !
Thank you, Dion! This is me. Age 62.
Everyone has to ask himself or herself - what you want to do after you retire (of course, you have enough retirement funds to last thru your natural age - that's another subject.) Everyone has to ask himself or herself - how long you will live? (dumb question , no one will ever know. Use how long your parent live? US average life expectancy as a guidance). Exception always exists but ... My case is my own personality - I can not stand that I have nothing to do all day. I am 68 and too late to establish a so call - "hobby- you love to do all day long. also for the next 10, 20 or 30 years" As long as I am physical capable and my brain allow me to work, I will choose to work until I drop dead. Plus I am able to handle my current job well.
@LittleBobbyHasTables
Жыл бұрын
Here are some of the things that I would like to do during my retirement (some decades away): cooking a different dish each day, playing chess/GO, riding my bike, spending time in nature, reading, exercising, playing video games. Maybe some of these also look interesting to you. I hope you have a long, enjoyable and healthy retirement!
I'm going to be 70 by 2027; still working; published 15 books and over 70 indexed journal manuscripts 🎉🎉❤❤❤
and what happens if they get forced out
@robertagren9360
Жыл бұрын
Financial crisis solved
Dion doing interviews! Great work and I love the "NPR" voice :)
I still want to work and be productive post 60s. Boredom is stressful if you ask me.
LOL... it's not they don't want to, they can't afford too.
Some thoughts. Sample size is small and thus I disregard it. I suspect most are just scared. There are many great YT channels dedicated to retirement. Holy Schmidt. Joe Kuhn. Rob Berg. Most are clear that retirement is a different chapter in life. It requires a plan that is well beyond finance, healthcare, trusts, and expensive trips. As Joe Kuhn shares, you have to retire "to" something, not retire "from" something. My suspicion is that many of us have no identity or self-esteem beyond our work. Without your job, you fear you are nothing. That belief is horsesh*t but unfortunately common. If you think you are indispensable to your clients, HAH! The cemetery is chock full of indispensable people. You've won. Don't turn your back on possibly your best chapter. You only have so many "go-go" years before nature slows you down. Jot down YOUR wish list. Check your finances. Go play. In whatever form it brings you true joy. Now. Don't wait a year. Take it one year at a time. You will thank me, as I have thanked others.
If you like what you do, own your own business...why retire; if you sit down, do nothing and become physically ill, then it's all over.
It's a question of can and can't and not want and don't want. It's not voluntary. 🤦♀
Sounds like people who never had a life besides work. I imagine they don't have much relations with their children or grandchildren.
@lsethhill
Жыл бұрын
I'd argue just the opposite. I pity all of these people dying to retire as soon as possible because they're so miserable in the work that they do. I can only imagine what terrible attitudes they bring home to their families every night being so miserable all the time.
I want to bag grocceries until i'm 90! It is the most fulfilling part of my day!!
It is good if those people can stil work and want to work. Old people can really be good at blocking development. Here in Germany it is pretty hard to fire people. Some years ago. In my last company we had an old man that was pretty high up in the hierachie. This man blocked every attempt to switch from paper to computer because he had no interest learning how to operate a computer. everyone was happy as this guy finnaly retired. Imagine someone like that keeps going ....
@robertagren9360
Жыл бұрын
Salary is a bond, it mature when you quit
People get addicted to the paycheck and cannot find anything that fulfills them so its work then either a serious health issue or the grave.
Don’t worry ai will replace them all 😂
More from Dion Rabouin please! His has a great radio voice. The regular host is soooooo annoying to listen to unless you're from New Jersey.
Meanwhile in France: Destroying the country because the retirement age was raised by two years.
@lsethhill
Жыл бұрын
😂😂😂 I said the same thing. Almost verbatim.
Is it that they dont want to retire? or they can't retire?
@GravityBar231
2 ай бұрын
They don't want to.
Its not a matter of dont want to retire. But most of them is Can Not Afford to Retire.
Seems like nobody wants to think, admit or even entertain the likeihood they might suddenly become injured, sick or get a fatal disease. But we all do need to think about that at any age, because ... wait for it ... your job/work buddies won't care or be there for you. (Older people who blithely think/assume they'll just keep working til they drop could be in for a huge huge unfixable shock!) Keep working, sure, np, but keep up your health and "invest" more in community and friendships. Those are the things that go the distance, imo.
Lady who didn't want to retire so she continued working from her cabin by the lake >>>> this is peak WSJ. Never change you guys. 🤣
#neverretired is an excuse of people with seniority still have a big paycheck and not letting the next generation taking the leader role, becuase "experience". There are times Retirement is not doing what you like. It is letting the next person take the baton. Also, people at that age would be the great example of teaching since they handled more problems.
@jefferyyounce5372
Жыл бұрын
Ageism is alive and well my friend. I'm an accomplished Database Administrator and employed and just turned 60 but see many of my peers unemployed.
@junelawson5719
9 ай бұрын
There are good reasons to move some older people out of leadership positions, but forcing retirement on them makes little sense and is cruel. These people have good skills and a wealth of experience, there are plenty of other positions they could take up.
They want to retire! They just can't afford it.
@Elon_ReeveMusk
Жыл бұрын
*Leave me a direct message let's interact properly with the number you've seen 💌*
@thisisme3238
Жыл бұрын
Truer words have never been said....spot on!
@mc4056
Жыл бұрын
How many people to make it to a partner level in a law firm to cherry pick their own clients because it's "fun".
If retirement is so great then why doesn’t Biden, Trump, Gates, many old actors, Senators, Congressman’s and just ordinary people still want to work? I’ll tell you why, it’s the will to survive. What is retirement anyway? The work place is like a never ending high school or college. You learn, you have friends, and you get paid? Geez, sounds great to me!
@R_A_3000
Ай бұрын
All those people you mentioned make big money and do little work. They don't need to retire when their life is a vacation. Now ask a transportation or construction worker if they want to work forever. I bet most will tell you they can wait to leave.
*Manufacturing Consent intensifies*
POV you misclick
Nearly everyone voluntarily retires or gets mandatorily retired by their employer. I'd suggest the former. No one is immortal and we all decline from a productivity perspective.
This comes across as spin. Truth is, for every retirement age worker who *wants* to stay in the workforce there must be many, many more who *must*
@NoName-rl3fh
Жыл бұрын
Correct.
Psyop
@NoName-rl3fh
Жыл бұрын
Correct
Hi
If these people don’t learn to retire, fewer jobs will be available for the next generation and everyone will be expected to work longer.
Very in touch with people there aye, wall street journal? Oh wait, no. Entirely off base.
Old Americans can not affort to stop working, they don't have enough pension.
Why do older people continue working? It beats eating cat food.
why would they? most places pretend they are not detrimental to the company so they forever can bleed the system dry 🤷🏻 . ill b honest the title alone of the video is what triggered me to type this out , if its not related in any way then… oh well they should still retire 😂their generation is bigger , it gives them pull everywhere an they have eachother aging backs . keeping thenarrarive that they somhow are/were hard working people
Worst take from WSJ
Correct! Those are the psycho workaholics that nobody loves. What other constructive way could they use their day?
Biden doesn't want to retire
Every day there're daily neccessary of the life so need money to fulfill it, that's the reason
Working to an early grave !
I retired @ 50...hated my job, hated my career...didn't care much for my colleagues. Took the buyout and secured a lifetime pension. Mic Drop. PS: I worked for the Federal Guvment - Department of Defense.
@NoName-rl3fh
Жыл бұрын
Cool. You could teach a thing or two to the dummies in these comments.
@Milo-nz5gf
Жыл бұрын
@@NoName-rl3fh The maganitude of the Fraud, Waste & Abuse in the Department of Defense is worse than the normal citizen is aware. Its truely criminal. SAD.
You see, the thing about american workers is that they actually just love to work hard until they drop, so there’s no real need for corporations to invest in pension plans, the American public has spoken we talked to more that 12 people who agreed with us. You see its really a privilege to work until you’re physically unable, to be able to generate that tasty shareholder value mmmmmmm.
Retired in Finland is Good 50-65 best Time Your Life. Retired 4 You.
Trust me, when you know that your employer hates you because it affects their sale value when they get bought then you will quit.
Ironically, French
Is this propaganda lol
@NoName-rl3fh
Жыл бұрын
Yes
Perhaps they can’t afford to.
Done with this propaganda. Unsubscribed.
What would your kids do if you retired? GET A JOB??? Gross!
this is so dumb, people can't retire. stop selling hustle culture.
This is disgusting
It's no longer a story that the world is experiencing a global economic downturn, I'm so happy that I've been receiving $64,000 from my $15,000 investment every 8 days
@user-tu2ul1rl9c
Жыл бұрын
HOW !! I know it's possible, I would appreciate if you show me how to go about it.
@NoName-rl3fh
Жыл бұрын
SPAM!!!
@melissachartres3219
Жыл бұрын
Sounds legit. Where do I send my money?