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Comment by randomacct3847 | Hacker News Reader

The idea of retirement is a joke, as if it’s this formalized thing that everyone is entitled to. I’m not saying it shouldn’t be, but we act like everyone is supposed to just sit on a golf course once they turn a magic age and live happily ever after without needing to earn a dime for the rest of their lives.

Personally I find the classical “retirement” you see in TV ads to be a sham sold by baby boomers.

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>The idea of retirement is a joke, as if it’s this formalized thing that everyone is entitled to.

There's nothing funny about it.

It's a great concept invented by a civilization better than ours in labor concerns, that we have failed to maintain because we allowed greed to overturn everything after the 70s.

Retirement is as great an a civilized invention as universal healthcare, schools, legal system, etc.

It's just that our societies are not worthy of it. Compared to a society that can, we're like primitives that throw disabled kids or elderly to the wolves.

>but we act like everyone is supposed to just sit on a golf course once they turn a magic age and live happily ever after without needing to earn a dime for the rest of their lives

Doesn't have to involve a golf course, but yeah, what's so strange about the situation you describe? For one, people pay all kinds of taxes throughout their lives for that. Second, it's not a "magic age" but a median age (which can change over time) when people no longer cannot realistically work (strength, health problems, etc).

I'd like to see you at 65+ with no retirement money and no job prospects, how that would change your tune...

The concept of retirement was conceived of when, as you suggest, the working class could not afford savings while being destined for incapacitation from decades of hard labor. What was normally a family upkeep of tending to an elderly loved on was converted to a social cost.

Now, hoewever, most people work sedentary jobs with plenty of opportunity to aim for a life of retirement if they do please. Most do not. Is this society’s fault that employees don’t contribute to their 401(k)s until they are in their thirties?

To counter your point, a truly civilized society leads to greater individual responsibility for the self and for others. That doesn’t happen when things like healthcare and social security are planned for you using 80-year old blueprints.

>Is this society’s fault that employees don’t contribute to their 401(k)s until they are in their thirties?

I didn't have the opportunity or even know what a 401k was except at a high level until I was 26 in my first 'big job'. I'm 28 and still haven't put any money into it because I cannot afford to in a corporate IT position. I'm still trying to pay down my health insurance deductible so I can get my medications. How can I ever retire? At this point, I'm going to work until I die.

Not sure how this is my fault when I'm educated and work 45 hours per week and am away from home for 60 when adding in my commute.

Duly noted. I’m not trying to be snide, but from your brief history you indicate you were ignorant of any sort of retirement actionable strategies. Frankly you are growing up in the most information abdunant age in world history with copious information on wealth management. Irrespective of personal upbringings which no doubt create wealth discrepancies, you clearly were not taking long-term decisions in your twenties. How else can we explain your lack of active pursuit of financial education? The buck has to stop somewhere.

>Is this society’s fault that employees don’t contribute to their 401(k)s until they are in their thirties?

Obviously yes.

It's the reality in most western countries.

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