The increase in people's life expectancy means that they have to work older to pay for their retirement. One alternative is that people start to work at younger age. Is this alternative a positive or negative development?
Human in general are experiencing a longer life expectancy, which lead to an overwhelming number of people continue to work after the legal retirement age. Whereas, others opt for entering the workforce at an earlier age, and from my perspective, this is a negative development.
First, choosing a career path - and the appropriate university courses for that profession - is a decision of paramount importance. Contrary to popular belief, landing on a job while studying - be it a part-time job or an apprenticeship, could easily distract youngsters from fulfilling their duties at school. In essence, in the current climate of obsession with early success, one is put under intense pressure to become successful artists, entrepreneurs and startup CEOs before the age 25, enjoying retirement with a generous income. That being said, that chilling reality could be a pipe dream for most. In fact, many well-paid jobs, such as doctors or lawyers, require a multi-year commitment to a long training course which can take up to 6 years or more, and thus, are not suitable for those who start working too early, yet lack formal education.
On the other hand, there is mounting evidence that many elderly people are physically and mentally fit to stay in work until their 70s. I believe that people who remain in paid employment past retirement age or involved in community or voluntary work improve their chances of staying healthier for longer. Continuing to have a routine and going into a place of work each day can prevent the sense of loneliness that could come with retirement. Furthermore, by engaging in active employment, two problems are solved: the pension and the retirement savings crisis. Financial independence is the ultimate goal that everyone would pursue in order to live comfortably in older age.
In short, the youth-obsessed culture has caused young people to take career decisions earlier than previous generations. However, working past retirement age could result in lengthening life spans, improved health and financial secure retirement.
The increase in people's life expectancy means that they have to work older to pay for their retirement. One alternative is that people start to work at younger age. Is this alternative a positive or negative development?
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