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Evaluating the Case of The Early Retirement - Coursework Example

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The author of this paper seeks to delve deeper into the trend in the modern economy of high employee early retirement. This paper also explains why the majority of companies are offering early retirement options, but not for the well and benefit of their employees…
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Evaluating the Case of The Early Retirement
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Download file to see previous pages In the ever tolling rat race of the industrial world, with all the heavy and laborious challenges that man is faced just to earn a living, every man is looking forward to their retirement. Who would not want to just lay back, enjoy life, and do the things which were rendered impossible by the busy lives of working and toiling day after day for decades and decades? Sure, everyone wants the easy life, who doesn’t? After all, every man who has sweat blood and broke his back would ultimately need to reward himself and reap the benefits of his labor. Early retirement sounds so ideal, so surreal, and so gratifying. It means that you have achieved and managed to build your keep and have you living well-off for the rest of your life; the ultimate achievement for a good and fruitful career. But early retirement is not like how fairy tales go. It is not as simple as living happily ever after. Financial stability does not necessarily follow with early retirement. Sure, there will be that severance pay and/or whatever the companies will package and offer you as “gratitude” to your services to them, but once those are depleted comes the real problem. Pension is a viable option to compensate for the monthly salary which you will not be receiving anymore, but there are also other benefits that cannot be availed for early retirees. In this paper, not only will the advantages and the good life of early retirement will be tackled but also this paper will seek to delve into the cons and the disadvantages when retiring early. Yes, even when retiring one needs to be practical and decisive. It is the final step of the career, and thus it should not be taken ever so lightly.
It had been observed that many workers have been retiring earlier well before they reach the formal age of retirement, which is 65 (Ahituv & Zeira, 2001). It is well noted that in 1996 the average labor force participation rate in OECD countries was 63.6 percent for men between the ages of 55 to 64, as compared to 93.1 percent for the ages of 25 to 54. It is a known fact that labor participation rates have drastically declined over the previous decades. Appendix A will showcase the trend in the 90s in terms of the labor force in terms of year and age. Others will argue that this is large because of the technical progress experienced by the modern economy (Ahituv & Zeira), while others may say it is because of the generous retirement plans which prompted the workforce to avail of early retirement.
Because of the technological advancements, older employees are then becoming more and more obsolete in the cogwheels of the whole company. It creates and paves the way to new professions but then it also destroys the foundations of the older models of working dynamics. Thus this also resulted in the trend of early retirement in the decades which followed the technological boom. ...Download file to see next pagesRead More
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mcglynndameon added comment 1 year ago
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At first, I thought 9 of pages is too much for such a question. But now I see it could not be done smarter. As the author starts you see the complexity of the issue. I’ve read all at once. Terrific document

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