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Current new articles have stated that the average life expectancy can easily become 100 years. The Life expectancy rate has seemed to increase around three months every year. “Centenarians may become the norm.” Scientists and doctors at Buck Institute in Marin County, California, have spent countless hours studying ways to expand the life of an organism. They already have been able to quintuple the life span of worms. With devoted research and tests, the Institute may be able to expand to human beings (Easterbrook). The question is, how will a longer life affect our economy? Social security would raise, forcing we the people to work harder and longer to make money to support our families. The three options that can give the working class a …show more content…
little break are: Adjusting the retirement age, having an older aged workforce, and/or saving personal money in a bank account for your own retirement. First, the retirement age can be adjusted.
Currently the average retirement age in the United States is 61 years old. Some have said that the retirement has climbed because “a lot of people are working longer because they want to work longer”, meaning they enjoy what they do (Langfield). I believe that this is a good option because the retired wouldn’t have a problem with it. The last thing we need is a fight between people working hard and people who have already worked hard. It might also be better for them physically. For retirees, they usually spend their day relaxing, sleeping, watching TV, eating and drinking, and shopping. Retirees spend around 4.73 hours in front of this “box”. In previous studies, it shows that people aged 75 or older, watch the largest amount of TV out of all the age groups (Brandon). By watching TV people, especially elders, increase the risk of type two diabetes by 20%, their chance for heart disease by 15%, and for every extra three hours watching TV on average, their chance of dying an average of 13% (Gardner). So elderly people working as long as they can would be the best idea to live longer, and earn money instead of depending on a government …show more content…
program. The second possibility would be having an older aged workforce.
This option would be a good choice, however it has much more disadvantages then the other two. The advantages include extending the available workforce, they are dependable, usually have a better attendance because, as I said they have nothing else to do. Elders have more knowledge, because they have already experienced what younger workers haven’t. The disadvantages comprise of productivity and safety issues. For example, if a man 63 years old were to be working for a construction site. He could easily create a safe, and intricate sketch of the building they are currently working on. However, the man wouldn’t be able to lift materials, or use tools that a 30 year old man could, because physical limitations. Also a senior citizen probably wouldn’t be able to stay within an organization for very long, until there literally aren’t capable of working or doing anything for that matter ("What Are the Advantages and Disadvantages of Hiring Older Workers? SHRM Poll."). The major downfall to this decision would be how seniors can get a job. The only obstacle in their way is the younger workforce. In 2011 the average unemployment period for elders was 35 weeks compared to the 26 weeks for the younger employees. Likewise, the older class would be “out of date” in the current business skills that newer employees have been taught right out of high school
(Brandon). The final option for we the people would be creating our own individual retirement fund saved in a bank account. Over the past 32 years, life expectancy has grown 15 years, meanwhile social security has increased 6.650% and is expected to increase. However, if social security remained constant eventually the government funds would run out, and for the unlucky generation who retires right as the economic failure happens. They will be forced to “work in their own casket”. However, for those who save money for retirement, such as my dad. He is currently saving for his retirement so if the funds run out he will have a source of money to live without working.
The amount of people working into their retirement age is growing. The Bureau of Labor Statistics says that by 2014, 41 percent of adults aged 55 and older will still be in the work-place. The Metlife foundation and Civic Ventures found that 66 percent of adults age 50 to 59 plan to keep working during their retirement years and 15 percent of those say they will never retire (Sander 643).
Elderly folks are eminently mature and have the finest instinct about what is right and wrong though It’s challenging to change someone’s point of view in a matter like this. When such injustice takes place, it de-motivates senior workers from their work. In an article over Ageists by Vincent J Roscigno, he states facts about different views on older Americans in general and in workplaces such as, “most of the population consists of biases and preconceptions, and the accused are unashamed in their views of older Americans. Those who believe that younger employees have much more value than senior employees are inserting a strong assumption based on their age. “Ageist attitudes and discrimination is what results in lower levels of overall organizational commitment to older workers, and a “push” out of a particular workplace.” Just because of an older employee’s depiction, such unfairness circulates in workplaces which cause false impressions of older
An aging population is indeed a problem for the society and will possibly cause many social and economic difficulties in the future. According to David Foot (2003), professor of Economics at University of Toronto, an effective birth rate of 2.2% against current 1.75% will be necessary to replace the current work force in the near future and the government’s policy of bringing in more immigrants will eventually fail (Foot, 2003, 2). However some people predict that the increased size of an aging population will drive growth in the home, health care, and many other industries resulting in job creation and economic growth (Marketwire, 2013, 1). Majority of the people are of the opinion that the issue will be mainly in the health care and economic activity. As humans age, they start to develop health problems, leading to more visits to a medical clinic putting extra burden on health care system.
Stossel and Mastropolo’s thesis did not come until at the middle of the article when they talked about how Murray Schwartz is convinced “that older people can do the job just as well as younger people and believes that employment age discrimination laws are a crucial protection for older workers” (paragraph 11). With this issue, there are two sides of argument in this article: one is from the corporate as to why it is a necessity to fire people when they come of age, and the second one is from the workers being affected at this age discrimination. There are several people applying for jobs these days and a company attempts to fill that job with the best qualified person. If a per...
Employers need to have a solid understanding of what is important and valued by each generation when deciding on their recruiting strategy. It definitely helps understanding each position by itself and the ideal requirements before determining what generation to key in on for a hire. “Managing multigenerational workforces is an art in itself.! Young workers want to make a quick impact, the middle generation needs to believe in the mission, and older employees don’t like ambivalence.! Your move.” (Harvard Business School) Is it an opportunity for career growth, do you need more experience in the position, can you live with a part time employee? Based on the answers to some of these questions plus others can weigh heavily on employee retention and be significant factors on deciding which generation to focus in on for your hire; this can save costs both on the front end with ease of recruitment and backend due to retention. Thus let’s look at the different generations and what they look for in a career and a company....
are forced to live off of. What happens if there is not enough to go
Life extension also presents unique predicaments which can have a direct impact on society such as, people would certainly benefit from the more experienced and knowledgeable labor force, but this would also cause young, willing people to be bereft of certain opportunities. One of the more persistent problems of life extension would be overpopulation because more of the population living together would result in congestion and this would lead to an eventual decline in our standard of living. Moreover, the issue of life extension also aggravates the situation of millions of people around
Social security, since instituted in 1935, has kept many elderly people from running below the poverty line (Hosansky). In 2015, the Social Security Administration predicted that the funds would be depleted by 2034 (Max). This poses a serious threat to the living situation of future generations when they retire. Our elderly, by today’s standards, enjoy a comfortable lifestyle. They are able to retire and still make over one thousand dollars a month. Some people also have private pensions which allow them to live even more comfortably. But with social security funds running out, we must ask the inevitable question. Is it worth having social security anymore? Social security should be kept. One must never fully rely on social security. In addition
These people may not be prepared to retire at the given age. It is possible that people who are forced to retire may actually choose to continue to work (“Should People Be Forced to Retire at a Certain Age?”). The United States should not force teachers to retire to retire at a certain age, because the students would not really understand what the teacher was teaching at the time she left when she turned at certain age. When one considers teachers and their well being then it is clear that teachers should be forced to retire at a certain age because they could survive on their retirement funds so people should let teachers work until they feel the need to
... active workforce. In this scenario, the number of aged people needing care from the younger generation would be relatively high. The situation implies that the aged people would have to work past their retirement ages and take care of themselves. There are consequences associated with overworking at old age such as developing illnesses and eventual premature loss of life. The premature loss of life lowers the life expectancy of a country. In this regard, voluntary childlessness reduces the number of people in the community. The long term effect of the situation is that it lowers life expectancy in adults.
It is an essential part to Americans all over the United States and this program was made for a reason and should still continue. If the social security benefits were cut, Americans would not longer survive financially. Social Security has been in effect for 75 years now, and has helped many retired workers and people with disabilities. It has been successful until recently when strategies predicted that the rate of payee is less than the rate of beneficiaries. Although, money will not come in fast enough to keep the program going, the solution is not to cut benefits or to shut it down. Social Security is beneficial for all, and some could not live without it. It’s basically a reward for the retired workers and the Americans that have worked hard and long for. The age to retire is 62, and that’s the earliest age. Although, you have no choice but to retire, you don’t necessarily have to retire at that exact age. Americans could work longer and collect more benefits. There are some strategies that has major economic potential. If the elderly worked longer, their earnings would gather and generate the payroll taxes. This would also help the social security’s troubled finances. Everyone looks forward to retiring from their job, but working longer has its rewards. Surveys showed that working longer would give them more time to learn about retirement and social security and will keep them on track into retiring. Older Americans look forward to starting a new job in their late ages and those who work longer are more likely to be happy and healthier than people who have already
As American society has evolved in the past 100 years and technology has increased and improved, so has the life expectancy for individuals. Currently, females can expect to live for 81 years on average, while males can expect to live for 75 years, giving an average life expectancy of 78.3 years (Santrock, 2013, p.536). According to Santrock (2013), “since 1900, improvements in medicine, nutrition, exercise, and lifestyle have increased our life expectancy an average of 30 additional years,” but another important factor is the decreasing infant mortality, allowing a larger population of people, including older adults (p.536). Making good choices in diet, regular exercise, avoiding drugs and alcohol, along with getting enough sleep and maintaining a low and healthy stress level can all increase life expectancy. Relationships, emotional well-being, and having purpose all also play an important role in determining how long an individual will live. As people are living longer, more ...
It has been well documented that women in general have a longer lifespan than men. In the past the reason was believed to be that women live a healthier lifestyle than men; I believe this is true to a point. Women don’t tend to work in as hazardous of environments and historically they tend not to smoke as much. Based on some research I have seen, a man or women’s lifestyle doesn’t sum up the total life expectancy of the individual. For the most part I believe the availability of modern medicine and the education level of the person will tie directly into the results. Basically if the person is moderately educated and has access to the modern medicine and actually uses it they can expect to extend their life. These are not the only factors of this though; genetics can obviously play a large role in the life expectancy of a person as well. People appear to be understanding this more and are moving to a preemptive strike when it comes to these types of issues. The fact that women have out lived men over the years may be taking a turn. Mortality rates of women are on the rise from lung...
Age discrimination continues to be a problem for both men and women that are over the age of 40 in the workforce. In year 1967, the federal Age Discrimination in Employment Act ADEA was passed to prohibit discrimination against workers over age 40 and older. Another law in the year 1964, Title VII of the Civil Rights Act of 1964 that prohibits employment discrimination on the basis of sex, race, color, religion, or national origin. However there are still age discrimination and it seems to be more especially for older women more than older men. The Federal and the state should implement more regulations to protect workers' rights in all age groups, both in the younger and older generation including their race and gender.
Technology in terms of medicine has also increased the life expectancy of the average person. With new technological advancements in surgeries, medicines and treatments the average life expectancy is still on the increase. A recent study shows that the average life span for 2004 of a United States Citizen is 77.4 years old. This has increased significantly from 1900 where the average lifespan for a male was 48.2 and for the female 51.5. Thanks to technology we can now live longer.