Retirement As A New Phenomenon - 801 Words

Even though they grew up in different parts of the country neither one of the participants were aware of retirement when they were younger. According to Schultz, the idea of â€Å"retirement is relatively a new phenomenon, and it was not until the Industrial Revolution, the creation of Social Security, and company pension benefits were created in the first half of the 20th century that individuals were able to cease employment while they were still otherwise able to work† (Schultz, 2011, p. 170). Since retirement was still relatively a new concept for the participants they could plan their retirement according to their desires and not be forced to follow a certain prototype. Not everyone has the same dreams and desires; thus, no one’s retirement is exactly the same because of outside influences like previous hobbies, gender roles, stresses pertaining to previous careers, marital life experiences, and previous level of physical activity pre-retirement. As stated by Barnes-Farrell, that retirees’ demographics like age, gender, and health can shape an individual’s retirement (Barnes-Farrell, 2003). Bill prefers living a very active lifestyle that involves going to the gym, swimming, biking, running and paddleboarding. Whereas, Rose prefers to spend her retirement relaxing inside her apartment watching baseball, reading, taking naps, talking on the phone to her children, going to church and spending time with her family. The differences observed between these participants could beShow MoreRelatedThe Alternative to Retirement1572 Words   |  6 PagesIntroduction Approaching the traditional age of retirement, the baby boom generation strikes the time to retire and the number of workforce would drop obviously in the coming decades. This phenomenon not only occurs in the Hong Kong, but in fact worldwide. 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The social, economic, and demographic deviations that the United States is undergoing at the population level may perhaps have far-reaching outcomes on one’sRead MoreMandatory Retirement Essay examples1379 Words   |  6 PagesMandatory retirement is perhaps a necessary evil; as older employees are forced out of the work force, it creates space for new, younger employees. Mandatory retirement is a form of age discrimination, it forces a person to retire because they are a certain age; it does not take into account if that person wants to retire. It also does not take into account the financial standing of the individual, or if they are physically or mentally still capable of doing th e job. Although mandatory retirementRead MoreI Am Responding To Question Number 2. â€Å"Retirement Is The1185 Words   |  5 PagesI am responding to question number 2. â€Å"Retirement is the period of life, usually starting between age 60 and 65, during which an individual stops working in the paid labor force.† (Lecture slides) According to our text, â€Å"the concept of retirement is a relatively recent phenomenon in Western society.† (Hooyman, Kawamoto, Kiyak. Aging Matters: An Introduction to Social Gerontology) People used to work until they died, but people also used to die much earlier in their lives, so that could partly explainRead MoreIncrease in Elderly Population Report826 Words   |  3 Pageswere 65 and older. Experts are now saying that by 2050, that total is projected to significantly increase to 1.5 billion. For the first time in our history, there will be more people ages 65 and older than there are children five and under. This phenomenon is due to the â€Å"baby boomer generation† now growing older and an increase in longevity. This increase in the elderly population can be seen around the world and will have a significant impact on medical institutions, society , and the economy. Read MoreLuxor Cosmetics Case Study Analysis Essay886 Words   |  4 Pagesand more older workers are choosing not to retire, log jams are popping up in many large companies. The positives here are that older workers can be assets, not liabilities to their employers. Older workers retain their mental faculties, can learn new skills, and are not necessarily more rigid. Healthy older workers do not cost more in medical benefits than younger employees with children at home. With the proper guidance older workers can provide training to younger workers at little cost to theRead MoreRetirement Is An Important Life Transition1741 Words   |  7 PagesRetirement is recognised as being an important life transition (Szinovacz, 1980), associated with a number of adjustments including social roles, income and daily routine adaption’s (Pinquart Schindler, 2007). Although there is no single definition of what retirement is within existing literature (Denton Spencer, 2009), it can a rguably be best understood as an subjective journey involving a psychosocial transition rather than a single event of exiting work or an objective life transition (MatourRead MoreImpact Of Retirement On Depression And Anxiety Essay1412 Words   |  6 Pagesnations across the globe are reviewing the retirement eligibility ages as a result of the challenge of population aging and the associated risks. This review may seem like an ordinary policymaking process, but it shows the importance of studying the impacts of labor force exit, especially for retirees. Recent years have seen most of the literature in this field focus on the labor force exit for male workers with insignificant attention paid to the retirement of women. Thus, while there is a need toRead MoreMigrant Workers In China Case Study840 Words   |  4 Pages1. New Pension System The Chinese government shall consider establishing a unified old-age insurance system. To be more specific, migrant workers shall have old-age insurance schemes that feature a mixed model with both personal accounts and a public fund; they shall be entitled to monthly old-age benefits after retirement; and the government must provide them better legal protection regarding old-age insurance benefits [33]. Other policy recommendations regarding improving the social security systemRead MoreResearch About Aging Workforce1124 Words   |  5 Pagesimplemented 1. Mentoring and teaming 2. Redesigning retirement package 5. Conclusion 1. Introduction Baby boomers, people born between the years 1946 to 1964, in United States alone there was an increase in population by 78 million during this period. (United States Census Bureau). Then, they were the baby boomers and now they are known as a global phenomenon being experienced by all industries, the aging workforce. In the