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I've been heavily saving for retirement from the day I started working, and approaching FIRE before 40 (living in the Nordics). I've been telling some close fri

I've been heavily saving for retirement from the day I started working, and approaching FIRE before 40 (living in the Nordics). I've been telling some close friends that even if they don't aim for early retirement, they need to at least have a backup option for regular retirement, but they can't seem to sympathize enough with their 70 year old self who is forced to keep working. And who is going to hire a 70 year old human in 30 years? What economic value could they possibly provide in 2055? Everyone here needs to make money and save everything they can right now. If you're not saving 50%+ of your income you AGMI

tmtvl 1y ago
I only know one of those initialisms. FIRE -> Financial Independency, Retire Early. AGMI -> Are Gonna Make It?
- jackothy 1y ago
  The usual one is "NGMI" (Not Gonna Make It) But you just have to assume based on context here that he intends to say "Aren't Gonna Make It"
pjmlp 1y ago
I can tell from Germany, maybe some will hire, because unless they can replace workers with robots, like it is happening in some supermarkets, they will get whatever they can. It doesn't come up often, but I have seen a decent amount of 70+ people doing what they can, as cashiers, kiosks, hospitals, doctor offices, bus drivers,...or in general any job where youth isn't into applying for learning on the job, or even so where demand isn't getting fulfilled.
- coldtea 1y ago
  >I can tell from Germany, maybe some will hire, because unless they can replace workers with robots, like it is happening in some supermarkets, they will get whatever they can. What's more likely going forward is that they'll downscale their operations in a contracting economy, than hire 70 years olds or needing robots for the same jobs. And if it needs be, they'll get immigrants for most jobs.
  - pjmlp 1y ago
    It all depends on how stronger right wing parties keep getting across Europe.
- rdm_blackhole 1y ago
  > I can tell from Germany, maybe some will hire, because unless they can replace workers with robots, like it is happening in some supermarkets, they will get whatever they can. No, they will do what they have done in the last 20 years which is import people from the middle-east or northern Africa to do the jobs and pay them the lowest wage possible. My wife works in healthcare in Sweden and more than 50% of the people who work on the hospital wards/in age care these days are either newly arrived migrants or descendants of recent migrants. Unfortunately most of these people are under-qualified, barely speak Swedish but they are cheap. That puts a lot of pressure to keep the wages of everyone down because they keep bringing more and more people from abroad. This isn't even a fix because as soon as they get their permanent residencies or citizenship (for the ones who do not have it), these people move on to something else because the jobs are just awful with long hours on your feet and being treated like a servant by the patients/residents.
  - pjmlp 1y ago
    Unfortunately that is why many European countries are going back to a reality I thought it was gone, back when I was a kid, being the first generation being born after carnation revolution.
  - pendenthistory 1y ago
    Yeah, you basically need private insurance to get a competent doctor.
  - sudosysgen 1y ago
    This is not going to work forever. Eventually conditions can get bad enough that upper middle class MENA people won't prefer a lower class European position.

tmtvl 1y ago

I only know one of those initialisms. FIRE -> Financial Independency, Retire Early. AGMI -> Are Gonna Make It?

jackothy 1y ago
The usual one is "NGMI" (Not Gonna Make It) But you just have to assume based on context here that he intends to say "Aren't Gonna Make It"

pjmlp 1y ago

I can tell from Germany, maybe some will hire, because unless they can replace workers with robots, like it is happening in some supermarkets, they will get whatever they can. It doesn't come up often, but I have seen a decent amount of 70+ people doing what they can, as cashiers, kiosks, hospitals, doctor offices, bus drivers,...or in general any job where youth isn't into applying for learning on the job, or even so where demand isn't getting fulfilled.

coldtea 1y ago
>I can tell from Germany, maybe some will hire, because unless they can replace workers with robots, like it is happening in some supermarkets, they will get whatever they can. What's more likely going forward is that they'll downscale their operations in a contracting economy, than hire 70 years olds or needing robots for the same jobs. And if it needs be, they'll get immigrants for most jobs.
- pjmlp 1y ago
  It all depends on how stronger right wing parties keep getting across Europe.
rdm_blackhole 1y ago
> I can tell from Germany, maybe some will hire, because unless they can replace workers with robots, like it is happening in some supermarkets, they will get whatever they can. No, they will do what they have done in the last 20 years which is import people from the middle-east or northern Africa to do the jobs and pay them the lowest wage possible. My wife works in healthcare in Sweden and more than 50% of the people who work on the hospital wards/in age care these days are either newly arrived migrants or descendants of recent migrants. Unfortunately most of these people are under-qualified, barely speak Swedish but they are cheap. That puts a lot of pressure to keep the wages of everyone down because they keep bringing more and more people from abroad. This isn't even a fix because as soon as they get their permanent residencies or citizenship (for the ones who do not have it), these people move on to something else because the jobs are just awful with long hours on your feet and being treated like a servant by the patients/residents.
- pjmlp 1y ago
  Unfortunately that is why many European countries are going back to a reality I thought it was gone, back when I was a kid, being the first generation being born after carnation revolution.
- pendenthistory 1y ago
  Yeah, you basically need private insurance to get a competent doctor.
- sudosysgen 1y ago
  This is not going to work forever. Eventually conditions can get bad enough that upper middle class MENA people won't prefer a lower class European position.