Simon Barker:

Cheong Tsoi:

I have been working in the same company for over 5 years and I think it is the time for me to step down, and gives chance to the younger generation. Money is not a matter for me to consider and I just wonder what next for me in the coming years.I am below 50 and I don't know when I am going to die.......

So you've worked about 26 to 27 years.  if you currently are in good health, you may well live another 30 to 40 years.  Possibly even 50 years.


As for the younger generation, once you retire, then you are expecting the younger people to look after you for the rest of your life - in the sense that they must grow the food that you want to eat, manufacture the goods you buy and provide all the services you use.  A big problem in the developed World is an ever-growing retired population, and an ever-shrinking number of working people - who keep paying more taxes per head just to keep the system going.

 

 

Hello, Cheong Tsoi. Simon Barker makes a very good point, often overlooked. We are now in the position where the "post-war baby boomers" have reached retirement age and there are more retired people that ever before requiring the support of those still working.


Retire when you like. But don't feel you need to retire for the sake of letting someone else into employment.


There is no "rationing" of jobs. Yes, industry sometimes goes through periods of recession, when unemployment is high. But this represents not lack of work to be done but lack of organisation of people to do that work. If you quit your job you will probably replaced by promotion of someone a step below you on the career ladder. It is less likely that this will ripple down to an unemployed person, school leaver or fresh graduate. Such people usually enter new jobs created by constant change.


I know of people who retired well before official state retirement age. That's fine if they achieve the lifestyle they want. I know of others who wished to carry on after official state retirement age. They continue to contribute to society through income tax, employers' national insurance contributions and of course their own spending power, all of which help to create work for others. That does not seem at all bad.


I worked full-time till I was 70 and continued part-time for 2½ years after that. I would probably have continued to work even longer but for family responsibilities.  I felt no guilt about "depriving others of work". On the contrary, in a way it compensated me for some periods when I was unemployed.

Simon Barker:

Cheong Tsoi:

I have been working in the same company for over 5 years and I think it is the time for me to step down, and gives chance to the younger generation. Money is not a matter for me to consider and I just wonder what next for me in the coming years.I am below 50 and I don't know when I am going to die.......

So you've worked about 26 to 27 years.  if you currently are in good health, you may well live another 30 to 40 years.  Possibly even 50 years.


As for the younger generation, once you retire, then you are expecting the younger people to look after you for the rest of your life - in the sense that they must grow the food that you want to eat, manufacture the goods you buy and provide all the services you use.  A big problem in the developed World is an ever-growing retired population, and an ever-shrinking number of working people - who keep paying more taxes per head just to keep the system going.

 

 

Hello, Cheong Tsoi. Simon Barker makes a very good point, often overlooked. We are now in the position where the "post-war baby boomers" have reached retirement age and there are more retired people that ever before requiring the support of those still working.


Retire when you like. But don't feel you need to retire for the sake of letting someone else into employment.


There is no "rationing" of jobs. Yes, industry sometimes goes through periods of recession, when unemployment is high. But this represents not lack of work to be done but lack of organisation of people to do that work. If you quit your job you will probably replaced by promotion of someone a step below you on the career ladder. It is less likely that this will ripple down to an unemployed person, school leaver or fresh graduate. Such people usually enter new jobs created by constant change.


I know of people who retired well before official state retirement age. That's fine if they achieve the lifestyle they want. I know of others who wished to carry on after official state retirement age. They continue to contribute to society through income tax, employers' national insurance contributions and of course their own spending power, all of which help to create work for others. That does not seem at all bad.


I worked full-time till I was 70 and continued part-time for 2½ years after that. I would probably have continued to work even longer but for family responsibilities.  I felt no guilt about "depriving others of work". On the contrary, in a way it compensated me for some periods when I was unemployed.