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#21 Bmore Irish

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Posted 09 December 2021 - 04:20 PM

A lot of Gen Z'ers planning to retire before 55, eh? Maybe they all hit it big with GameStop and crypto investments lmao.

 

I'm squarely in the millenial range. What are the characteristics and stereotypes for millenials? I assume they all apply to me.



#22 Mackus

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Posted 09 December 2021 - 04:28 PM

A quarter of Gen Z respondents plan to retire before the age of 55, according to a Goldman Sachs survey of over 1,000 workers and retirees. Judging by previous generations, that’s an ambitious goal: in Goldman’s survey, only 8% of retirees stopped working before the age of 55. And while experts generally say people will need 80% of their former income per year in retirement, a third of respondents younger than 40 believe they’ll only need 60% or less.

 

Haven't read the article, but sounds like a poorly worded survey to me.

 

There is a big difference between planning to retire at 55 and expecting to retire at 55.  You can't retire at 55 (or 60 or 65 or 72 or...) unless you plan for it (or get very wealthy along the way).  So if you are currently planning to retire at 55, that doesn't necessarily mean you expect to retire at 55.  Just that you're investing and saving in a way to give you a chance.



#23 Mike in STL

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Posted 09 December 2021 - 05:52 PM

A lot of Gen Z'ers planning to retire before 55, eh? Maybe they all hit it big with GameStop and crypto investments lmao.

 

I'm squarely in the millenial range. What are the characteristics and stereotypes for millenials? I assume they all apply to me.

Sense of entitlement: This is a broad one, but I don't think it's a bad thing that more and more people are demanding say, higher wages as living expenses are going up. Too much to unpack here. 

 

Can't put the smartphone down: Eh, I like the ease of looking something up, or reaching out to someone. But also love the days where I'm busy and don't look at it for hours. Or I put it on the charger, do something else and half the day goes by.

 

Avocado toast: Not this fat boy.

 

Online dating: Thank god I'm married. I wouldn't even know what to do. Do single guys still have a couple drinks at the bar and strike up a conversation with a girl? Or is that creepy these days? 

 

Participation trophies: Everyone got a trophy in my little league for sure. 1st place teams trophy was a tiny bit bigger.

 

Selfies: See "Avocado toast"

 

Complicated coffee preferences: "Ooooooo. Pumpkin spice whatever the hell season!!!" No thanks.

 

Brunch: Overrated

 

Not loyal to their jobs: I guess it comes with the entitlement one. Since jobs are most peoples source of healthcare or paid time off, if another job has better benefits, you gotta weigh those options. Wish I knew the benefits previous generations had. After my grandfather got home from Korea he worked the next 30some years for Esskay, retiring I think not long before the plant was closed. Wish i could ask him what kept him loyal to a blue collar job like that for so long. Limited options back in the day, maybe not much else you can do. 


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#24 mweb08

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Posted 09 December 2021 - 06:40 PM

Sense of entitlement: This is a broad one, but I don't think it's a bad thing that more and more people are demanding say, higher wages as living expenses are going up. Too much to unpack here.

Can't put the smartphone down: Eh, I like the ease of looking something up, or reaching out to someone. But also love the days where I'm busy and don't look at it for hours. Or I put it on the charger, do something else and half the day goes by.

Avocado toast: Not this fat boy.

Online dating: Thank god I'm married. I wouldn't even know what to do. Do single guys still have a couple drinks at the bar and strike up a conversation with a girl? Or is that creepy these days?

Participation trophies: Everyone got a trophy in my little league for sure. 1st place teams trophy was a tiny bit bigger.

Selfies: See "Avocado toast"

Complicated coffee preferences: "Ooooooo. Pumpkin spice whatever the hell season!!!" No thanks.

Brunch: Overrated

Not loyal to their jobs: I guess it comes with the entitlement one. Since jobs are most peoples source of healthcare or paid time off, if another job has better benefits, you gotta weigh those options. Wish I knew the benefits previous generations had. After my grandfather got home from Korea he worked the next 30some years for Esskay, retiring I think not long before the plant was closed. Wish i could ask him what kept him loyal to a blue collar job like that for so long. Limited options back in the day, maybe not much else you can do.


I'll chime in on that last one. Do you think the loyalty issue perhaps has a fair amount to do with the lack of loyalty from the companies?

There's also the fact that unions have declined a great deal, so it made more sense to be loyal to one's good union job back in the day.
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#25 RShack

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Posted 09 December 2021 - 08:04 PM

I'll chime in on that last one. Do you think the loyalty issue perhaps has a fair amount to do with the lack of loyalty from the companies?

There's also the fact that unions have declined a great deal, so it made more sense to be loyal to one's good union job back in the day.

 

Exactly right...   companies started treating customers like marks and exported job to evade unions... both trends screwed those who otherwise would be loyal customers... 


 "The only change is that baseball has turned Paige from a second-class citizen to a second-class immortal." - Satchel Paige


#26 JeremyStrain

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Posted 09 December 2021 - 08:41 PM

I'll chime in on that last one. Do you think the loyalty issue perhaps has a fair amount to do with the lack of loyalty from the companies?

There's also the fact that unions have declined a great deal, so it made more sense to be loyal to one's good union job back in the day.


Yep have to agree with this one. Some people want to blame the current climate on people being entitled, but I think it’s a bi product of us raising our kids to know their value and stand up for themselves. They are also smart enough to have a basic grab of economics and know that the market will bear what it will. This is where the problem is, companies seem to think it doesn’t apply to them, and if people aren’t accepting their jobs because they feel like it’s not enough, they don’t need to offer more.

I’m sick of hearing billionaires crying poor cause they couldn’t bear to make 1.1b dollars vs 1.7b dollars to raise peoples wages and quality of life.

Side note. I learned this week the reason we work 40 hours per week is because of some German dude in Chicago back in the day. I’m sure that seemed like an improvement over 12 hour days but 6 hour days would have e been nice.
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#27 McNulty

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Posted 09 December 2021 - 11:36 PM

A lot of Gen Z'ers planning to retire before 55, eh? Maybe they all hit it big with GameStop and crypto investments lmao.

I'm squarely in the millenial range. What are the characteristics and stereotypes for millenials? I assume they all apply to me.


I retired at 39 🤷‍♂️
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#28 RShack

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Posted 10 December 2021 - 01:00 AM

I retired at 39 ‍♂

 

Wonderful...

 

Whatcha up to these days?


 "The only change is that baseball has turned Paige from a second-class citizen to a second-class immortal." - Satchel Paige


#29 Bmore Irish

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Posted 10 December 2021 - 08:21 AM

I retired at 39 ‍♂

Congratulations. Any advice on how I can retire in 9 years? I figure now that I can walk up to the casino and place my football bets, it shouldn't be long now.



#30 Mackus

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Posted 10 December 2021 - 08:37 AM

I retired at 39 ‍♂

 

Your generation is very entitled to their pensions.



#31 Bmore Irish

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Posted 10 December 2021 - 08:56 AM

Sense of entitlement: This is a broad one, but I don't think it's a bad thing that more and more people are demanding say, higher wages as living expenses are going up. Too much to unpack here. 

 

Can't put the smartphone down: Eh, I like the ease of looking something up, or reaching out to someone. But also love the days where I'm busy and don't look at it for hours. Or I put it on the charger, do something else and half the day goes by.

 

Avocado toast: Not this fat boy.

 

Online dating: Thank god I'm married. I wouldn't even know what to do. Do single guys still have a couple drinks at the bar and strike up a conversation with a girl? Or is that creepy these days? 

 

Participation trophies: Everyone got a trophy in my little league for sure. 1st place teams trophy was a tiny bit bigger.

 

Selfies: See "Avocado toast"

 

Complicated coffee preferences: "Ooooooo. Pumpkin spice whatever the hell season!!!" No thanks.

 

Brunch: Overrated

 

Not loyal to their jobs: I guess it comes with the entitlement one. Since jobs are most peoples source of healthcare or paid time off, if another job has better benefits, you gotta weigh those options. Wish I knew the benefits previous generations had. After my grandfather got home from Korea he worked the next 30some years for Esskay, retiring I think not long before the plant was closed. Wish i could ask him what kept him loyal to a blue collar job like that for so long. Limited options back in the day, maybe not much else you can do. 

Well, I'm not a coffee drinker and I've never had to endure online dating. Never really cared about the whole participation trophy thing, and I don't recall that ever mattering when I was a kid. I've played on some bad teams in my life, and it's not like a trophy at the end of the year changed anything. We still knew we sucked, and nothing beats when you're actually good and winning games. 

 

I've never had avocado toast, but I have no doubt I'd like it. Big brunch guy though. You're telling me I can go get breakfast at 11am and catch a buzz, and it's not only socially acceptable but encouraged? Sold.

 

My mom's dad worked at Bethlehem Steel his entire career after getting out of the Army. I admire his commitment and the way he worked his way into different roles. Like the time he lied to his boss about being knowledgeable on hydraulics so he could get a new position, and then went and learned everything he could about it before he had to start. He also worked the graveyard shift for years because it paid more and opened up other doors for him.

 

I'm not sure I'd be willing to do that, which is probably very millenial of me. Just like I'm not interested in commuting two hours for a job. I mean everything has it's price, but more likely than not, it's a no from me. But I guess that's why I won't be retiring before I'm 55...



#32 JeremyStrain

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Posted 10 December 2021 - 09:53 AM

Well, I'm not a coffee drinker and I've never had to endure online dating. Never really cared about the whole participation trophy thing, and I don't recall that ever mattering when I was a kid. I've played on some bad teams in my life, and it's not like a trophy at the end of the year changed anything. We still knew we sucked, and nothing beats when you're actually good and winning games. 

 

I've never had avocado toast, but I have no doubt I'd like it. Big brunch guy though. You're telling me I can go get breakfast at 11am and catch a buzz, and it's not only socially acceptable but encouraged? Sold.

 

My mom's dad worked at Bethlehem Steel his entire career after getting out of the Army. I admire his commitment and the way he worked his way into different roles. Like the time he lied to his boss about being knowledgeable on hydraulics so he could get a new position, and then went and learned everything he could about it before he had to start. He also worked the graveyard shift for years because it paid more and opened up other doors for him.

 

I'm not sure I'd be willing to do that, which is probably very millenial of me. Just like I'm not interested in commuting two hours for a job. I mean everything has it's price, but more likely than not, it's a no from me. But I guess that's why I won't be retiring before I'm 55...


I tell people all the time that I was a millennial before that was even a thing (born in 79), it's more a state of mind, and wanting change. I started my own business where I only worked from home because for what I do there is ZERO reason to be in office, and I'd rather have less money than a commute. Things we value is different than it was back in the day. I know some people where going to work is their break, they are NOT the stay at home and deal with the house or children kinda people and love that interaction of GOING to work. I'm just not one of them, and for more introverted people, going in and being forced into pointless meetings, awkward icebreakers, and things of that nature are something that make you NOT want to work at a place vs making you feel happy about being there. You can't change the root of some people's personality, and that's ok. Some of those people are the smartest, most hardworking people I know, and people need to stop pretending that those people HAVE to change to be worthwhile.

 

For me, I'm an accountant so everything is about efficiency, and spending 3-4 hours a day pretending you have something to do because you work faster than other people, or because people keep coming in and talking, or someone insists on having a meeting to TALK about doing the work instead of just DOING the work is like being waterboarded. I tell potential clients I have no trouble charging them less and letting me do my thing because the total amount of work still gets done, but now I can take those other 4 hours and do the same thing for another client and end up making more money in the end...and that usually makes them go ohhhhh, I get it.


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#33 mweb08

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Posted 10 December 2021 - 02:08 PM

Regarding the long commutes that older generations were apparently more willing to have, I'd say that has a lot more to do with white flight/creation of urban sprawl than some willingness to sacrifice.

#34 McNulty

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Posted 11 December 2021 - 01:43 PM

Wonderful...

Whatcha up to these days?


Not much. Trying and failing at writing a book. Open to suggestions if you have one.

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#35 RShack

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Posted 12 December 2021 - 12:31 AM

Not much. Trying and failing at writing a book. Open to suggestions if you have one.

 

Well, I wrote a textbook... but that's a different animal...

 

I've been stuck for a few years now on writing a book... maybe we can swap drafts and give each other useful criticism...


 "The only change is that baseball has turned Paige from a second-class citizen to a second-class immortal." - Satchel Paige


#36 Mike in STL

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Posted 12 December 2021 - 08:54 AM

I'll chime in on that last one. Do you think the loyalty issue perhaps has a fair amount to do with the lack of loyalty from the companies?

There's also the fact that unions have declined a great deal, so it made more sense to be loyal to one's good union job back in the day.


100%. Good unions have a lot of pull as well.
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