Author Topic: Children today could work until they are 100!  (Read 7626 times)

Jupiter

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Children today could work until they are 100!
« on: October 11, 2015, 04:28:09 PM »
Here's a link to the article: http://www.msn.com/en-au/money/personalfinance/children-today-could-work-until-they-are-100-predicts-futurologist/ar-AAfaXeA?ocid=spartanntp

Overall without even reading the article the title in my opinion it gives enough motivation for any young person who hasen't started saving in their 20's or 30's to quickly get started before it's too late and the rapid job shifts occur due to automation and the rise of deep learning: https://www.youtube.com/watch?v=t4kyRyKyOpo

This may make me appear overconfident but luckily this article does not effect me whatsoever for at least the next 50 years due to current laws in Australia which prevent the automation of my job/career path in general. Just over a week ago I had been working in a dead-end 36K job for the past 3+ years which yes, was going to be safe but 36K just wasn't cutting it anymore for me. The only way to get better pay in that job was a further 4 years study in university that would only increase my income to 60K per year. My new job now earns me 30 - 150K per year (depending on the amount of business I get) with no extra study and its not a job that will go away in there near future either :)

Anyway just thought I would share that article with you guys as it is a great encouragement to step up before its too late. It reminds us that what we earn doing what we do now may not be guaranteed forever so if you are still living paycheck to paycheck it may be time to start saving before it's too late and your job disappears. What you earn at work now is not a permanent income stream and if you think it is and don't save your money now you may be working well over 100 if you survive that long. All those people at my old job saying "I'm never going to earn enough money here to buy a house so I won't bother saving" are going to be in quite a bit of trouble even though their job is guaranteed to stay unless many people become unemployed... then their job will vanish due to no business as people are afraid of spending money or have no money to spend. I've literally had a 20 year old girl at my old work say to me "I can't wait till my parents die so I can inherit their house.". In my eyes that is criminal and it really made me mad inside that she won't save any money because she is waiting for her parents to die so she can get their assets. They aren't even rich, have no savings and are still paying off the mortgage.

Rant over, do you guys know anybody yourselves who could be at risk of working to 100? Is the future of "Early retirement" going to be retiring in your 70's? Is anybody fearful or are you guys all set?
« Last Edit: October 11, 2015, 10:06:29 PM by Jupiter »

Mr. Green

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Re: Children today could work until they are 100!
« Reply #1 on: October 11, 2015, 07:50:28 PM »
As longevity increases we'll likely see an increasing range of when people become unfit to continue working. Even today I've seen 60 year olds who look like they could easily work into their 70's and then there are some who look like any day could be their last. The laws of compounding say the sooner you start saving the better prepared you will be for any scenario. Some folks who live to 100 even say that continued work is one of the main reasons they lived so long. As soon as the mind starts to weaken it's downhill from there, and work tends to keep it sharp.

Landlord2015

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Re: Children today could work until they are 100!
« Reply #2 on: October 11, 2015, 08:04:32 PM »
I don't think it is going to affect early retirement plans unless you count people who get laid off due to lost jobs due to automation and therefore might consider other ways to earn income.

I sure have and I work with marketing/sales and that has nothing to do with my studies. I might get 2016 work in my field but one again it means move away a long distance. There is the chance of starting own company but there are risks involved in that and I might increase the number of apartments I rent to other people instead.

People with their own company might choose to supervise it to very old age unless a next generation steps up.

Jupiter seems to be at highlight of the career congratulations to that but honestly I am not unless you count landlord which seems to gradually increase and a new highlight is reached.
« Last Edit: October 11, 2015, 08:10:45 PM by Landlord2015 »

somebody8198

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Re: Children today could work until they are 100!
« Reply #3 on: October 11, 2015, 09:29:44 PM »
Am I the only one who reads these kinds of articles and thinks that I'll have no reason to be alive at 100 years old? Just seems like your quality of life would be so low.

Jupiter

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Re: Children today could work until they are 100!
« Reply #4 on: October 11, 2015, 10:01:43 PM »
Am I the only one who reads these kinds of articles and thinks that I'll have no reason to be alive at 100 years old? Just seems like your quality of life would be so low.

The point being is that at 100 what kind of life have you got left to live if you did retire. The best part of life doesn't start until you retire and are free from working to earn money. How could you even work at 100 full stop? Most people that age are in aged care struggling to do practically anything...

At the same time though with the development of life extension in science we could be living forever young if you have enough money so save now and maybe you will achieve a permanent 20's lifestyle (without work) forever thus making living after 100 worth it.

marty998

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Re: Children today could work until they are 100!
« Reply #5 on: October 12, 2015, 12:48:20 AM »
I can't see it happening. Employers are agist against 40 year olds. Do you think they will hire a 100 year old?

Am I the only one who reads these kinds of articles and thinks that I'll have no reason to be alive at 100 years old? Just seems like your quality of life would be so low.

The point being is that at 100 what kind of life have you got left to live if you did retire. The best part of life doesn't start until you retire and are free from working to earn money. How could you even work at 100 full stop? Most people that age are in aged care struggling to do practically anything...

At the same time though with the development of life extension in science we could be living forever young if you have enough money so save now and maybe you will achieve a permanent 20's lifestyle (without work) forever thus making living after 100 worth it.

Nature demands things die. It's called biology dammit. And it is good for the species, allowing the next generation to flourish without additional unnecessary competition for resources. Elderly (people, animals, whatever) are a drag on a species*.

At the risk of being hounded off the boards I see no reason to pointlessly extend life just for the sake of it by means of science, pills etc. There certainly does come a time where it is time to meet your maker and nature** should be allowed to take its course.

We fill up our hospital wards with 90 year olds having heart surgery and the like. It's painful and cruel to the patient when they end up bedridden, especially if they have additional medical conditions like Alzheimer's.

* No I do not hate old people. Yes I do get sad when people die. I am a person with normal emotions. But I just don't find it unexpected when an old person dies. Death happens to everyone, one way or another.

**Before any of you start, no I am not advocating death panels***.

** Interesting we have a commenter named deathpanels on this thread.

patrickza

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Re: Children today could work until they are 100!
« Reply #6 on: October 12, 2015, 12:50:09 AM »
When I compare myself with some of my school friends now around 20 years after school has ended, you do really get to see that age is just a number. Those of us who looked after ourselves are still as fit and attractive as were in our twenties. Those that didn't now look and behave as if they are in the late forties.

I think I'll keep biking to work (for a few more years) and watching what I put into my body.

marty998

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Re: Children today could work until they are 100!
« Reply #7 on: October 12, 2015, 01:04:33 AM »
The thought just occurred to me now re-reading the "competition for resources" line I wrote.

Sydney house prices lol. Old people refusing to move out and downsize, forcing youngsters to commute from the sticks spending inordinate amounts of time and money on housing and travelling to work. The oldies then claim the pension forcing younger taxpayers to cough up more, just when the youngsters need to pay for their own families.

David Attenborough's recent series on "life" was stunningly beautiful.

For real fun his next one should be about people!




2Cent

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Re: Children today could work until they are 100!
« Reply #8 on: October 12, 2015, 03:09:07 AM »
I can't see it happening. Employers are agist against 40 year olds. Do you think they will hire a 100 year old?

Am I the only one who reads these kinds of articles and thinks that I'll have no reason to be alive at 100 years old? Just seems like your quality of life would be so low.

The point being is that at 100 what kind of life have you got left to live if you did retire. The best part of life doesn't start until you retire and are free from working to earn money. How could you even work at 100 full stop? Most people that age are in aged care struggling to do practically anything...

At the same time though with the development of life extension in science we could be living forever young if you have enough money so save now and maybe you will achieve a permanent 20's lifestyle (without work) forever thus making living after 100 worth it.

Nature demands things die. It's called biology dammit. And it is good for the species, allowing the next generation to flourish without additional unnecessary competition for resources. Elderly (people, animals, whatever) are a drag on a species*.

At the risk of being hounded off the boards I see no reason to pointlessly extend life just for the sake of it by means of science, pills etc. There certainly does come a time where it is time to meet your maker and nature** should be allowed to take its course.

We fill up our hospital wards with 90 year olds having heart surgery and the like. It's painful and cruel to the patient when they end up bedridden, especially if they have additional medical conditions like Alzheimer's.

* No I do not hate old people. Yes I do get sad when people die. I am a person with normal emotions. But I just don't find it unexpected when an old person dies. Death happens to everyone, one way or another.

**Before any of you start, no I am not advocating death panels***.

** Interesting we have a commenter named deathpanels on this thread.
If you haven't seen it, you should watch the movie "In Time".
If people don't age it will create an elite which will control everything on the one end and a near slave like poor on the other.  It is sort of like that today, but I think the fact that most powerful people only achieve their power well into their 50s and have to retire in their 70s. So they have maximum 20 years before they leave their place. If they had 50 years to consolidate their power, that would be quite scary. I guess the whole pace of civilization would slow down to a crawl as it would take 50 years before people with new ideas could rise to the top.


Jupiter

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Re: Children today could work until they are 100!
« Reply #9 on: October 12, 2015, 07:10:53 AM »
I can't see it happening. Employers are agist against 40 year olds. Do you think they will hire a 100 year old?

Am I the only one who reads these kinds of articles and thinks that I'll have no reason to be alive at 100 years old? Just seems like your quality of life would be so low.

The point being is that at 100 what kind of life have you got left to live if you did retire. The best part of life doesn't start until you retire and are free from working to earn money. How could you even work at 100 full stop? Most people that age are in aged care struggling to do practically anything...

At the same time though with the development of life extension in science we could be living forever young if you have enough money so save now and maybe you will achieve a permanent 20's lifestyle (without work) forever thus making living after 100 worth it.

Nature demands things die. It's called biology dammit. And it is good for the species, allowing the next generation to flourish without additional unnecessary competition for resources. Elderly (people, animals, whatever) are a drag on a species*.

At the risk of being hounded off the boards I see no reason to pointlessly extend life just for the sake of it by means of science, pills etc. There certainly does come a time where it is time to meet your maker and nature** should be allowed to take its course.

We fill up our hospital wards with 90 year olds having heart surgery and the like. It's painful and cruel to the patient when they end up bedridden, especially if they have additional medical conditions like Alzheimer's.

* No I do not hate old people. Yes I do get sad when people die. I am a person with normal emotions. But I just don't find it unexpected when an old person dies. Death happens to everyone, one way or another.

**Before any of you start, no I am not advocating death panels***.

** Interesting we have a commenter named deathpanels on this thread.
If you haven't seen it, you should watch the movie "In Time".
If people don't age it will create an elite which will control everything on the one end and a near slave like poor on the other.  It is sort of like that today, but I think the fact that most powerful people only achieve their power well into their 50s and have to retire in their 70s. So they have maximum 20 years before they leave their place. If they had 50 years to consolidate their power, that would be quite scary. I guess the whole pace of civilization would slow down to a crawl as it would take 50 years before people with new ideas could rise to the top.

I kinda saw that movie but was really busy and distracted at the time thus not fully seeing it properly however I admit I kinda liked the idea behind that movie. If you can make it into the big leagues you can live forever but... you gotta get a head start on everyone else otherwise you live paycheck to paycheck basically on the verge of death at any moment and if you lose your job... well that's the end of you.

I've always wanted to live forever otherwise I might as well just die now because everything is for nothing. My body is way too old already, I want to take a good 10 years off my age as is and stay looking and feeling that way forever (I know what you're thinking, no I'm not a pedo I just miss the days when I was an invincible 11 year old that could just do anything with no health problems). For certain living forever one day will be reality and the world will change dramatically because of it but I'm assuming only the rich or incredibly talented people will be able to afford it initially.

Mind uploading, brain transplants ect... It doesn't have to be like the movie "In Time" though... If we automate everything through advanced deep learning AI and self building robotics we could literally make our own paradise where we all live forever and nobody has to do any work they don't want to again. Until the AI's have terraforming technologies working efficiently we would need to come to a no reproduction agreement. Once we can transform other planets to paradises and safely move our children there we will have an endless supply of planets to expand out to thus everybody can live forever and be happy. I'm saving up now so I can be a part of that group and even if it doesn't happen in my lifetime at least I tried and hey, maybe they will invent a death reversal technology one day similar to how those scientists recently found out how to unboil eggs.

MrsPete

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Re: Children today could work until they are 100!
« Reply #10 on: October 12, 2015, 07:56:13 AM »
Numerous thoughts:

I read an article in a magazine at the doctor's office a year ago that made a statement I found surprising: It said that 50% of the babies born this year will live to be 100. Obviously, none of us can possibly know whether this is truthful or not, but I'm sure it's about better vaccinations, better medical care, etc.  And the article did not address the effects of obesity, diabetes, and the like, which have skyrocketed in the past couple decades. 

Anyway, if that's true, people will have to support themselves somehow, and the work force is changing at a scary pace.  Automation means that we need fewer people to do the grunt work ... so how will the idiots among us support themselves?  People who do manual labor won't be able to do it until they're 100.  The most likely idea is that WE will support them. 

Even if you're not an idiot, if you're likely to live to 100, you'll need to put away more money than if you're expecting the 80-odd years that is the average today.  That extra 20 or so years will make a difference -- inflation, etc. 

And, yes, if people are staying in their jobs longer, it does mean that the younger generation can't "get a start".  OR it means that with less job security, the "old folks" will get the boot (now that I'm upper 40s, I assure you that discrimination against older workers is real -- I see it clearly) and will be forced into menial labor jobs. 

The article referenced in this thread says that 30-80% of the jobs Americans hold today will no longer exist in 10-20 years.  First, that's a huge guess -- I mean, just look at the numbers.  But it's scary for today's young people.  I mean, look at what's already happened:  My mom worked in a clerical job in the late 60s; that job no longer exists:  her specific job has become a "serve yourself" thing on the internet.  Only a few people work in that industry now, and they're just cleaning up the occasional mess.  Today machines can replace all the fast food workers, meaning that a restaurant could run with only 2-3 people per shift to oversee things -- so that huge number of unskilled workers could easily find themselves without jobs. 


Gondolin

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Re: Children today could work until they are 100!
« Reply #11 on: October 12, 2015, 08:53:11 AM »
Just another wildly speculative click bait article based on flawed extrapolations of current trends that we don't know will continue. Remember, "futurologists" get paid to make distressing claims about the future; no one pays the consultant to say, "you're doing fine and the future will look much like the present.".

People who are worried about industries being taken over by automatons need to remember that it won't happen until it's economically beneficial for corporations to do so. Take the fast food industry. Could you build a machine that replaces all the staff? Sure. However, the cost to design and turn to retrofit an existing Mcdonalds with the machine would be huge. Then, you have a single point of failure - your machine goes down and your store has to close with zero sales until the engineers come out and fix it. At current levels of tech, the cost of those engineers plus the cost of parts plus the lost sales dollars from downtime probably outweighs the cost of paying 10 people $10/hrs to just man the store.

Might this all change in the future? Sure. There's just a lot more at play then, "Could robot X exist?"

Landlord2015

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Re: Children today could work until they are 100!
« Reply #12 on: October 13, 2015, 12:38:56 PM »
Just another wildly speculative click bait article based on flawed extrapolations of current trends that we don't know will continue. Remember, "futurologists" get paid to make distressing claims about the future; no one pays the consultant to say, "you're doing fine and the future will look much like the present.".

People who are worried about industries being taken over by automatons need to remember that it won't happen until it's economically beneficial for corporations to do so. Take the fast food industry. Could you build a machine that replaces all the staff? Sure. However, the cost to design and turn to retrofit an existing Mcdonalds with the machine would be huge. Then, you have a single point of failure - your machine goes down and your store has to close with zero sales until the engineers come out and fix it. At current levels of tech, the cost of those engineers plus the cost of parts plus the lost sales dollars from downtime probably outweighs the cost of paying 10 people $10/hrs to just manthe store.

Might this all change in the future? Sure. There's just a lot more at play then, "Could robot X exist?"
"you're doing fine and the future will look much like the present.".
Yeah and I am believer in dystopia possibility so you can stick your forecast wherever you want it... maybe good for next years but a 100 years is a long time.
True there are optimists at the same time I see ignorance and do you realise how big debt USA has government?

Lets take example my country Finland(Europe):
My country has downright stupid actions lately taking in swarm of refugees and then wondering why economy goes downhill when everyone knows 99% of the refugees do not get decent job and then my socialistic country pays for it. My country has reduced help to developing countries at same time so government is giving a bit mixed signals it consists of 3 big parties and they more or less try to cooperate with each other despite the face they don't share exact same politics.

Anyway I don't want to start a political debate. Living as Bad ass mustachian and aim for early retirement and financial freedom is wise though and no I don't think everyone is doomed, but be prepared for a harsh future can be wise.
« Last Edit: October 13, 2015, 12:43:03 PM by Landlord2015 »

Jack

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Re: Children today could work until they are 100!
« Reply #13 on: October 13, 2015, 01:08:38 PM »
Nature demands things die. It's called biology dammit.

Tell that to a quaking aspen!

Schaefer Light

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Re: Children today could work until they are 100!
« Reply #14 on: October 13, 2015, 01:22:26 PM »
Am I the only one who reads these kinds of articles and thinks that I'll have no reason to be alive at 100 years old? Just seems like your quality of life would be so low.
I have no desire to live that long.

coppertop

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Re: Children today could work until they are 100!
« Reply #15 on: October 13, 2015, 02:28:39 PM »
People might live to be 100, but what kind of condition will most of them be in? I am 60; I look around me and see many of my contemporaries obese, sick, on insulin, popping pain pills.  They may be alive, but quality of life will most likely not be there for most.  Also, we have a former partner here who is no longer productive, but he insists on shuffling and wheezing on in here every day, playing at working, going into the men's room and making all kinds of godawful noises and smells to treat the rest of us with, and generally making a nuisance of himself.  I just can't imagine why he wants to be here every day; it can't be comfortable and it's not for the money.  I know what they pay him.  He's a pain for the staff to deal with, he's cranky and unpredictable, and we worry that one day we will go in and find him dead at his desk.  Heaven help us if one day we have to deal with centenarians who won't stop haunting the office on top of the octogenarians who refuse to stay home.  Plus the fact that they are taking work away from younger people who need the work - and they don't need it; these men are wealthy.

marty998

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Re: Children today could work until they are 100!
« Reply #16 on: October 13, 2015, 03:06:13 PM »
Nature demands things die. It's called biology dammit.

Tell that to a quaking aspen!

TIL there is an organism over 80,000 years old. Holy crap!

Mr. Green

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Re: Children today could work until they are 100!
« Reply #17 on: October 13, 2015, 03:30:36 PM »
My grandfather is 89 and about as bionic as they come. Two knee replacements, two hip replacements, and a defibrillator from a heart arrhythmia several years ago that usually kills people. His mind is still very sound but even with all that medical intervention his body is still moving down the path of breaking down. At that age, your friends start to die. They got together with three other couples every New Years Eve for 50 years. Only half of them are still here. Your ability to learn diminishes. They can barely operate a computer. As technology and the world passes you by and you know fewer and fewer people, it starts to look more and more foreign. I once thought it would be really cool to live to 100. I think now I would rather live the shit out of life for 70 years with limited pain, incredible experiences, etc. and die of a heart attack in the middle of the night than limp to 100. A few will get lucky and will stay really healthy until the last couple years but most folks who live a long time experience plenty of years with moderate discomfort.

Schaefer Light

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Re: Children today could work until they are 100!
« Reply #18 on: October 14, 2015, 07:42:09 AM »
I think now I would rather live the shit out of life for 70 years with limited pain, incredible experiences, etc. and die of a heart attack in the middle of the night than limp to 100.
My thoughts exactly.

coppertop

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Re: Children today could work until they are 100!
« Reply #19 on: October 15, 2015, 08:14:07 AM »
Interesting Consumer Reports issue I picked up the other day - cover story is about scams that are perpetrated on senior citizens; sidebar article is on how some cognitive skills are lost by most people in old age, particularly those skills that deal with money.  My sister-in-law was talking just the other day how she found out her 90-year-old mother is sending a lot of money to a lot of so-called charities that solicit her with sad stories about starving children.  She's sending multiple checks every week to multiple dubious "charities."

2lazy2retire

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Re: Children today could work until they are 100!
« Reply #20 on: October 15, 2015, 12:21:35 PM »
I think now I would rather live the shit out of life for 70 years with limited pain, incredible experiences, etc. and die of a heart attack in the middle of the night than limp to 100.
My thoughts exactly.

Think we are projecting our current circumstance into the future here. I'm surprised that the article talks about working till 100 as in 100 years its highly unlikely anyone will need to work. As for limping to 100 as opposed to dying at 70 the same  applies the life of a 100 old individual around 2100 is likely to be very different that anything we can fathom today.

Bajadoc

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Re: Children today could work until they are 100!
« Reply #21 on: October 15, 2015, 02:24:52 PM »
They better work........I want every penny of my Social Security and Medicare. Somebody has to pay for it.

mamagoose

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Re: Children today could work until they are 100!
« Reply #22 on: October 15, 2015, 02:54:50 PM »
They better work........I want every penny of my Social Security and Medicare. Somebody has to pay for it.

Nice one!

 

Wow, a phone plan for fifteen bucks!