Gen X will work longer than any generation before

In all seriousness, I trust you will. We did.

When my wife and I were in our late 20's, we bought our first business, a take-away food shop. It was opened from 9am to 9pm, 7 days per week (we were even opened on Xmas Day).

Yep, we were opened 84 hours/ week.

At the same time, I had a job in IT and worked 40+ hours in that.

From my experience with Gen X and Gen Y's, I am not convinced that they would put in the same effort to get ahead .

 

True, the X-factor is questionable.
Gen X used to begin early 60's ('63 or even earlier) and end late 70's. I remember my '77 brother questioning his generational 'identity'; and in the eighties and nineties, the late boomers couldn't keep up with the early boomers either though they've made the ranks now.The pension age increase clinched the deal. It's all a bit OTT but there are major events and policy changes which do affect particular age-groups at certain times. Which is why they keep shifting the years around.

agree with that one.

yeah me too. Wish we had the time to enjoy some of the many changes that occurred because of the boomers and their forebears who had a gut-full of war. However, the thread is about gen X and how long they currently believe they'll be required to work.

 

I know two brothers who are in the 70's.

The first had their own businesses when they first came to this country. Worked 10 hour days seven days a week until they set up their 4 sons in their own businesses and retired at the age of 60. They now travel frequently and enjoy the fruits of their labour living off their income.

The second worked as an employee 8 hours a day at five days a week. They went out to restaurants, spent big and enjoyed the casino on the weekends. Only one child. This guy is still having to work in his 70's as he cannot afford to live on the age pension despite being lucky and receiving both an inheritance from his parents as well as his wife's.

Moral of the story. Work and save whilst you can and you can retire early.

 

As a super generalistic observation boomers started work a lot younger than Gen X. Many started full time work at 15 - my Mum learnt to be a nurse from on the job training from 15 in a hospital not a university. Gen X and Gen Y however will spend many years in university and might start between 22-25yrs.

I don't have an issue with the retirement ages proposed. I'm an X and if I don't want to work until then that is my choice, just got to work on my own retirement plan.

 

Yep. These days people go to university to study nursing for 4 years in hope that they will land a 12 month stint at a public hospital and be placed on casual contracts. 1/4 nursing graduates won't even get a position. Progress....

 

When you think about it, we are all getting older and the rules around retirement ages has not really changed for 100 years.

Chronology of superannuation and retirement income in Australia

10 June 1908
Invalid and Old Age Pensions Act 1908 passed by the Deakin Government. Rate £26 per year (10/- a week). Eligibility limited according to character, race, age, residency and means. Paid to eligible men and women at 65.

1910
Pension age for eligible women reduced to 60.

1912
1908 Act amended to completely remove the family home from the means test

 

They're also living in a more prosperous society.

 

Need to have bucket loads of teachers and nurses on standby otherwise they'd need to be paid more, plus hopefully weed out the good ones!
And there's lots of work for nurses and teachers... Just need to get out of the city

 

I'm Gen X and my parents are boomers.

 

Generations X,Y, Z and the Others...Social Librarian Newsletter - WJ Schroer Company
Oldest boomer (according to the link - I'm looking at the years, not descriptions) born in 1946, and Gen x 1966-1975. Enough gap for boomer to have Gen X kids.

 

That’s right, and we have to pay for the privilege of it. Soon cleaners will need a B.Clean degree to find work.

 

Hmmm I always assumed my parents where Boomers but it seems they are Post War Cohort though I imagine different people have different year definitions.
My parents are currently 74 (1942) and 70 (1945) and both working part-time by choice.
Myself, I am on the edge of Gen X at 1974 and I have 3 generation Zs (1999, 2006 and 2008)

 

Gen X and my first job was at 15. My boomer parents both started working earlier than that . Guess they didn't have child labour laws back in the day!

It would be interesting to see the stats on boomers and degrees vs X and Y. My parents certainly started work without much formal education but both went on to get degrees and Masters later in life. I agree that a lot of Gen X and Gen Y will take the high school/uni/job path and will end up working the same number of years as boomers.

 

And those that do get a position will be on casual contracts.

 

In Adelaide, on law firm wanted to charge graduates $22,000 a year for a job. In the olden days, the firm paid you to work. Now you pay them. Progress.

Firm asks law grads to cough up $22,000 for ‘job’

 

Like in media, architecture etc there is a trend for not being paid for work. Which essentially means unless you have income support from your parents until you are 30, certain professions are off limits. Which kind of puts pay to any theory about egalitarian society.

 

Is this may a way to keep it as the "boys club"? Pwc accountants would only take from selected private schools I believe, now they can't do that anymore so need to find another way to continue the inbreeding

It's also supply and demand. Some engineering students work for free because they need the 6months to finish their degree, and companies are taking advantage

 

Maybe its all heading the way of the USA unfortunately. Never previously heard of here...

 

Darn it- I'm 1977 and thought I was Gen X - now I'm confused!

 

I think the cutoff is 1980.