When workers past retirement age can’t afford to retire — that’s one thing. When they can, and just don’t want to — that’s trickier.
It used to be legal to force people to retire when they hit a certain age. The trend used to be earlier and earlier retirement. Now it’s later and later retirement. And younger workers say it’s impacting their career advancement and their ability to save for their own retirement.
At the same time, older workers are living longer, Social Security and Medicare funding are less secure than ever … and many people want to keep working.
Age in the workplace is a tricky thing to talk about. But today on the show, we’re talking about it. On the latest Planet Money, a law professor who says retirement should be mandatory at age 70. And an economist who says, actually … people should delay retirement even longer.
Show notes:
- More of Planet Money’s coverage of the lump of labor fallacy
- Samuel Moyn: Gerontocracy in America: How the Old Are Hoarding Power and Wealth? And What to Do About It.
- Gerhard Casper and Saunders Mac Lane: “Older Doesn’t Mean Wiser”
Read:
- Our book: Planet Money: A Guide to the Economic Forces That Shape Your Life
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This episode was reported by Sarah Gonzalez. It was produced by Willa Rubin, edited by Eric Misitzis Mennel, and fact-checked by Sierra Juarez. It was engineered by Robert Rodriguez and Jimmy Keeley. Alex Goldmark is our executive producer.
Music: NPR Source Audio: “Don’t Cross The Line,” “Aventure Burlesque,” and “Hollywood.”
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