Carol Hymowitz
speaker
52 appearances
1 recordings
1 series
first heard Feb 2023
last heard Feb 2023
Carol Hymowitz’s voice in public audio — every appearance, attributed to the second.
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Appearances
The traditional age of retirement worked when people were not living beyond 75.
But if you're going to live until 95, it's very hard to have earned enough income up to 65 to support yourself for another 30 years.
Millennials, certainly, and all the generations behind them.
Roughly speaking, people currently age 40 and younger.
They have to think very differently about it.
The traditional age of retirement, somewhere between 60 and 65, worked when people were not living beyond 75.
But if you're going to live until 95, it's very hard to have earned enough income up to 65 to support yourself for another 30 years.
That is why people have to work longer.
They're also going to want to work longer because people who are 70, 75, even 80 today, even today's group, are feeling pretty energetic for the most part, not all, but they have the capability to really contribute.
In a traditional career, think of it as a ladder.
But in
The new longer career, the 60-year career, it's a jungle gym.
You're going to have to jump rungs, sometimes even go down at times, and then go up again.
Already a lot fewer workers expect to stay at a single company all the way through their career.
And that trend will only accelerate as careers get longer.
After all, few people are going to want to stay in the same job for 60 years.
But I think fewer are going to want to stay in the same company because they have more opportunities to try different things.
And few companies have shown the kind of loyalty that would encourage such careers.
Absolutely.
Younger generations in the workforce have to prepare themselves for lifelong learning, including breaks to return to school.
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