Wow! this is an active thread with morphing topics. Considering I am a relative new comer in this forum, and usually not one to talk about money or personal economics with anyone let alone in an open forum… I felt compelled to respond after catching up on the recent posts…
I don’t quite understand all the negativity about people not having pensions, and talking up one’s work better than someone else’s career path.
Each person is their own, and for better or worse we land in situations we are familiar and comfortable. There is no point comparing the work scenario from 20+ years ago to something today. If we objectively look, FWIW each generation does better than the previous generation. Obviously each generation will have folks who are better off than their peers, and what ever anyone says the differentiation is mostly based on “randomness” and the ability to act on that. (Not sure if this should become the next topic of conversation!!!) I also find older generation saying the newer generation is a bunch of spoiled brats 🙂
I consider myself savvy for my age, but the current crop of 20’s and 30’s put me to shame with their openness to adapt and change. Like the generation(s) before they will shape the society, and everyone will need to adapt, thrive and make it their own or be left behind.
On the topic of pensions, not sure if that is truly relevant. Some were lucky to find work in places/companies that offered such a social benefit. Over the years the same companies found it was no longer necessary, as the benefit changed to some other entity (perhaps the 401ks…).
IMO having a pension or a 401k is no guarantee it will be available when one truly needs it. After all the contributions are not directly controlled by the individual. These pensions and 401k are dominated by funds/stocks/treasuries/securities which follow societal changes. In this scenario it is only prudent for each of us to look after immediate family needs, and take care of their tribe in the best possible way they know how. Who better to assess one’s needs than self, and accumulate the necessary resources?
