Senior Crime Specialist, Retired
The notion of retirement is essentially dead. I would forget about it.
I saw this article claiming that Baby Boomers will have to control $1 million – $2 million in order to comfortably afford to stop working. This is completely ridiculous, and since the Boomers are now entering retirement eligibility age, most will find their plans insufficient to live especially if they are carrying any debt at all. A nation of millionaire experts will emerge to discover all the industry specialization, advanced degrees, self-help books, and motivational seminars really didn’t do shit. The wealth tied up in inflated home equity may as well be useless in another economic crunch because grocery stores aren’t accepting equity for groceries as far as I know.
Based on these figures and compared with inflation rates, how much does the youngest generation need in order to “retire?” Five million dollars? Ten million? Does anybody believe this is really going to happen at any population level? I’ll answer that: NO. The modern concept of retirement isn’t really about enjoying golden years anyway. It is more akin to being released from prison or indentured servitude, and I don’t believe many Boomers are all that interested in taking it easy and golfing everyday. I think most Boomers are more looking forward to raising a middle finger to corporate America and burning their business casual wardrobe. In fact, the future retiree may be more adequately judged on his level of skill at divesting than investing.
Highly specialized species are the first to go when ecosystems shift even slightly. These are the most creative, attractive, and ingenious critters that innovate new and imaginative methods of resource utilization. However, they are also the most vulnerable, fussy, and high-maintenance lifeforms to exist. This principle is recreated within human economics where highly specialized workers tend to make the most money, but also tend to suffer the most as the terrain shifts.
Twice in a one day I heard that “specialization is the key” to creating and maintaining competitive advantage — the key to wealth. The battle cry: There’s Riches in Niches! [Getting my MBA is very useful in that I can reliably take an opposite stance on whatever is pushed hardest and take that loosely as the truth.] This may be true right now, but it is also a sure way to find yourself without a job, then complain about how unfair it is. Specialization creates the not-my-job effect where the 2-ton forklift driver sits waiting for the 1-ton forklift driver to come and do the job.
Specialization relies on 3% of the population to feed 97% of the rest of us. In fact, those 3% are allowing another advancing field, crime. Convicts currently outnumber farmers 2 to 1 according to Bureau of Labor Statistics and Department of Justice figures. This makes me wonder if the luxury of increasing specialization afforded us through modern agriculture is really a good idea, or if we should concentrate on a more fundamental approach to daily life.
I would forget about retirement and concentrate on opting out of the Plutocracy, and I would stop wasting energy on specialization. I’ve never met a farmer or rancher who didn’t know something about virtually everything from weather patterns to modern finance. These are the people to emulate on a micro scale in order to be useful in the coming decades. Ironically, in a devolutionary global crisis, countries like Bhutan where 93% of the population is involved in agriculture will likely fair better than the United States. I equate over specialization with getting a tattoo on your forehead — it’s going to be very amazing to a few people for a little while.
Don’t rely on a single stream of income or food source. Remember the Pareto Principle. Always have a backup profession, skill, community, or resource. Don’t just save money — save food; it’s every bit as valid as a savings account. Grow something.
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Great post this week. It’s beginning to sink in to a lot of people these days that complete retirement isn’t gonna be an option. That said, another major benefit of retirement in the current industrial economy is that it “thins the herd” and frees up jobs for younger workers, who, all things being equal, should be better qualified to do those jobs at some point. Older workers hanging around is going to cause a problem, especially after the economy actually begins to contract in earnest. Finding the geezers “make work” ain’t gonna be particularly popular either, as it will still affect the bottom line. At some point, euthanasia is going to be a serious topic once again, and curiously, it might be the geezers themselves who are its strongest supporters.
Thanks for this post. Just thinking about the farm aspect lately.
Actually, when it comes to the numbers, it’s more like 2% of the population is in prison. When you consider that this is not nearly inclusive of the criminal population, then the disparity is much, much greater.
Farmers have become the Invisible Caste on survey forms. There are so few that it is no longer a choice in the “occupation” fields.
The future of food lies in subterfuge (such as raw milk sales), urban (educated) foodies, the third world, and catastrophes that are simply waiting to happen with centralized processors.
html fart! oops.
Thanks for this post. Just thinking about the farm aspect lately.
Actually, when it comes to the numbers, it’s more like less than 1% actually farming, the other 2% are processing. Some greater than 2% of the population is in prison. When you consider that this is not nearly inclusive of the criminal population, then the disparity is much, much greater.
Farmers have become the Invisible Caste on survey forms. There are so few that it is no longer a choice in the “occupation” fields.
The future of food lies in subterfuge (such as raw milk sales), urban (educated) foodies, the third world, and catastrophes that are simply waiting to happen with centralized processors.
Indeed. I have no doubt there will be no ‘retirement’ for my generation. Therefore, our option is to escape as early as possible from the economic matrix and be well prepared for the inevitable shift that’s coming. I’m just thankful we have a head-start and can acquire useful skills while we have the time and tangible assets while our paper money still means somthing.
It is actually pretty amazing how many young so called well educated people cannot do the math. I have been a bit successful in convincing some of my (since yesterday ex-) colleagues that paying into the pension ponzi scheme is not such a good idea. But few dare to take the actual step to quit because the system is cunningly designed to keep you inside the matrix. Slaves will have a slave mentality, few dare to rattle their chains.
@ Thunder Preacher:
True. The idea of hope is a very powerful animal, and it teaches us to just trust and everything will be fine.
It’s funny how when a guy like Bernie Madoff runs a scheme it’s called “Ponzi,” but when the US Government runs the same system it’s called, “social security.”
Cool post. Though being knowledgeable about a wide variety of things doesn’t always pay off (financially) in this current state of American existence, I’d take it any day over someone who is an expert in a field and naive in everything else. I run into professionals with degrees like that all the time. Many make more money than I do, but can’t do half the things I can. For many years I have thought that I was going to work for the rest of my life, not because I have to, but because I want to. I can’t imagine not being productive and spending my free time golfing and watching TV (for example). The day I stop producing something positive for the world around me is the day I want to die.
I’d like to grow some weed. At least then I could escape from this mess of an economy for a little while ; – )
Aimlow Joe http://www.aimlow.com
Don’t laugh. In a post U.S. deindustrialized barter economy good weed’s gonna be worth it’s weight in gold. Now THAT’S something worth looking forward to!
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