#retirement
Residents of the Global Village no longer “retire from” their careers. Instead they “retire to” other ways to find fulfillment.
Photo by Clark Tibbs on Unsplash
This was not possible in the Industrial Park era of the 20th Century. Most jobs were at the mercy of the machines that created them. Remote work is impossible when the “assembly line” or “business office” is the core of any business. You either lived near the facility or lived in the suburbs and commuted to work every day. By the turn of the century, many workers were spending as much time commuting to and from work as they were at work. This reinforced their desire to retire and get out of the rat race.
In the 1950s through the 1970s, the average worker had a Defined Benefit Pension, Social Security, and a Savings Plan matched by their employer. That changed in the 1980s when corporations began putting profits ahead of people.
401k Retirement accounts replaced Defined Benefit Pensions. Employers turned these accounts over to private investment firms. Many went bottoms up before the employee retired. Incentives designed to reward loyal employees became disincentives. Their purpose was to force employees to remain in place. Keep working or face losing your retirement and savings funds.
Those of us who have lived long enough to see this happening know what young and middle age workers now face. But this pandemic may have a silver lining. It is forcing all employers to realize that the lives of their employees matter.
Before the pandemic, it was profitable to outsource jobs to other countries. Now those countries are facing the same enemy. This enemy is not at the mercy of any machine. Nor does it have to dwell at factories or in office buildings. It offers an early retirement called “death” that offers equal opportunity to all.
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