(토요모임) [28st, September, 2019] Saturday meeting topic

[Scarlet]

Howdy !  It's me Scarlett !   

This week we will talk about the 'Generational divide in Society' . 

Do not be obsessed with all the articles too much.

Just pick some articles what you have interests and prepare your opinions related to

those articles. :) 

◈  Issue  Briefing 

---  Greta Thunberg to world leaders: 'How dare you? You have stolen my dreams and my childhood'

--- Millennials: Disadvantaged Generation?

--- Generations X, Y, and Z: Which One Are You?

◈ Social Problem Identification 

--- 3 Korean buzzwords you should know in 2016 

--- Looking at the Generation Gap : Generational Differences and Their Causes

--- Millennials are set to overtake Baby Boomers  as America's biggest generation

◈ Generation gap in work environment :

--- The Korean word that embodies the tension among generations building – and exploding – in the modern workplace.

--- The word for “condescending old person” in Korean : What “kkondae” reveals about young South Koreans’ struggle against hierarchy

--- Narcissistic 'kkondae' hated for ignoring others

◈ Generation gap in retirement plan :

--- Work until 75? Many people won’t even live that long
--- What Generation Gap? Why millennials are already planning for early retirement

Hope you enjoy the topics ! 

With luv 

Scarlett

--------------------------------------

Greta Thunberg to world leaders: 'How dare you? 

You have stolen my dreams and my childhood'

Teen Activist Greta Thunberg to World Leaders: ‘How Dare You!’

By Emily Chasan and David Wainer / 2019년 9월 24일

The 16-year-old environmental activist Greta Thunberg scolded heads of state at a United Nations summit on Monday, saying they’re robbing her generation of a future by focusing on money and not on fighting global warming.

“You have stolen my dreams and my childhood with your empty words,” Thunberg said in a speech at the UN Global Climate Action Summit in New York. “People are suffering, people are dying, entire ecosystems are collapsing. We are at the beginning of a mass extinction and all you can talk about is money and fairy tales of endless economic growth. How dare you!”

Greta Thunberg speaks during the UN climate summit in New York on Sept. 23.
Thunberg, who traveled from Europe to New York for the summit on a zero-emissions sailboat, said she should be in school in her native Sweden rather than at the UN telling world leaders what to do to address climate change. Listen to the science, she told them, which has been “crystal clear” for 30 years. She admonished them for leaving her generation with the task of sucking billions of tons of carbon dioxide out of the air “with technologies that barely exist.”

“This is all wrong, I shouldn’t be up here,” said Thunberg, who spoke along with UN Secretary-General Antonio Guterres, India Prime Minister Narendra Modi and others. “The eyes of all future generations are on you,” she said.

 
Leaders from around the world, including French President Emmanuel Macron and German Chancellor Angela Merkel, have gathered in New York this week to make new pledges to curb global-warming emissions. President Donald Trump, who wasn’t originally scheduled to attend, made a surprise appearance at the summit on Monday.
Late Monday night, Trump tweeted about Thunberg: “She seems like a very happy young girl looking forward to a bright and wonderful future. So nice to see!”
 
Guterres is calling on countries to step up commitments to reduce their dependence on fossil fuels. “We face at least 3 degrees Celsius of global heating by the end of the century,” he said. “I will not be there, but my granddaughters will. And your grandchildren, too. I refuse to be an accomplice in the destruction of their home and only home.”

Thunberg, who last year skipped school for three weeks to protest outside Sweden’s Parliament has inspired a climate movement among youth worldwide. Students and adults around the world in over 100 countries joined her in taking to the streets during a climate strike last week. The UN also held its first-ever Youth Climate Action Summit over the weekend. And on Monday, Thunberg joined a group of children ages 8 to 17 in filing a legal complaint with the United Nations, accusing France, Germany, Brazil, Argentina and Turkey of ignoring climate science.

Protests continued on Monday in Washington as climate activists shut major commuter arteries in the nation’s capital. At least a half-dozen protesters attached themselves to a pink boat labeled with “Tell the Truth” and parked it just blocks from the White House.
 
For a rolling update of the climate events happening in New York on Monday, click here.
— With assistance by Stephen Lee, and Susan Decker

Article source : https://www.bloomberg.com/news/articles/2019-09-23/teen-activist-greta-thunberg-to-world-leaders-how-dare-you

-------------------------------------

< Questions >

Q1. Do you know Teen Activist Greta Thunberg? 

Q2. How do you feel about the Teen Activist Greta Thunberg's speech? 

Q3. What do you think of world leaders who are failing future generations on climate but only focus on the making money while pursuing development? 

Q4. Why generation gap is getting widening locally and globally? 

-------------------------------------

Millennials: Disadvantaged Generation?

--------------------------------------

Generations X, Y, and Z: Which One Are You?

-------------------------------------

3 Korean buzzwords you should know in 2016

By Suk Gee-hyun / Published : Jan 29, 2016 - 14:41

Every year comes with a new batch of buzzwords you need to know. It helps you to keep yourself in the loop, or understand captions on the latest variety shows.

Even for Koreans, it’s sometimes hard to understand some words and you end up looking for explanations online.

Here are our picks for some Korean buzzwords to know in 2016. This will help you understand better when listening to Korean people talk, whether it be in movies, dramas or reality shows. 

1. Kkondae

JTBC TV series “Songgot-Piercer”(JTBC)

JTBC TV series “Songgot-Piercer” or tvN’s 2014 hit “Misaeng” are some good examples of raising the issues of “kkondae culture” in Korea. Both document tough military-style hierarchies in everyday work environments, illustrating the injustices at Korean workplaces today. While the term “kkondae” may refer to something as big as treating workers unfairly or in illegal ways, it is also used for stubborn people with no consideration for others, mostly younger people or junior colleagues.

Park Jin-young and Jay Park (OSEN)

Another fine example is when Jay Park wrote critical and sarcastic lyrics to his single “Fuckboy” last year, believed to be targeting JYP Entertainment CEO Park Jin-young.

The lyrics go: “My past teacher is jealous thinking that we might be on the same level someday. I’m like no others in the K-pop scene. You’re just a TV personality doing money-making business with fans. I’ll keep moving even if you try to stop me. I was close to getting cast in a music festival. Yes, kkondae man should act his age. So immature and childish.”

2. Tsundere

Ryu Jun-yeol in "Reply 1988" (tvN)

“Tsundere” is a Japanese word commonly used in Korean media these days. It’s often used to describe male characters who run hot and cold in TV series or films. But digging down deeper into its meaning and derivative, “tsundere” has a wider spectrum of one’s behavior and personality.

The word is a combination of Japanese word “tsun,” which refers to someone who acts blunt, and “dere,” someone who is affectionate. So the word describes someone who acts cold at first but slowly warms up to others.

The latest example would be Ryu Jun-yeol’s character Jung-hwan in tvN’s “Reply 1988.” His “tsundere” style in the drama made countless female fans cringe, especially in scenes like when he waits for Dukseon (Hyeri’s character) in front of their home while pretending he just got there.

In Japan, the term has generated a new subset of words like “yandere,” “dandere” and “kuudere,” but these are not used in Korea. At least not yet.

3. -mingout

TWICE (OSEN)

Test yourself if you can understand what these words mean:

"Tmingout"
"Dukmingout"

The affix “-mingout” is used when someone is coming out of the closet to reveal their sexual identity or what kind of political or social groups they belong to. Its origin, of course, is the expression‎ “Coming out,” a figure of speech for LGBTs disclosure of their sexual orientation.

Common usages include dukmingout, in which “duk” refers to “otaku” or someone who has a strong, unhealthy obsession with something, or simply people who specializs in something and have a vast knowledge about it. Therefore the word ‘dukmingout’ is often used to describe someone who admits their obsession with specific K-pop artists or celebrities.

Tmingout is an actual word recently used in caption by broadcaster MBC Every1’s talk show “Weekly Idol.”

In explaining that girl group TWICE’s debut song “Like Ooh-Ahh” helped the idols gain a strong fandom, a program staff wrote “'Like Ooh-Ahh' is a ‘tmingout’ song.” This apparently means the song makes everyone to realize and disclose that they’re TWICE fans.

By Suk Gee-hyun (monicasuk@heraldcorp.com)

Article source : http://kpopherald.koreaherald.com/view.php?ud=201601291437560206471_2

-------------------------------------

< Questions >

Q1. What is the top 3 popular buzzwords in your country?

Q2. Do you know the meaning of “kkondae”, "Tsundere", and The affix “-mingout” ? Please explain it to other members.

Q3. Do you know anyone who is "Tsundere" typed person?

Q4. Are you sensitive about the trend changes?

--------------------------------------

Looking at the Generation Gap
Generational Differences and Their Causes
By Susan Adcox / Updated April 04, 2018

Many grandparents grew up in an era of angry confrontations between the generations. As they ease into the role of family patriarchs and matriarchs, they may wonder: What happened to the generation gap? Is it gone or just on hiatus? Or it is still present but mostly underground?

Definition
A generation gap is commonly perceived to refer to differences between generations that cause conflict and complicate communication, creating a "gap." Word maven William Safire provides this more positive definition: "Generation gap can be a frustrating lack of communication between young and old or a useful stretch of time that separates cultures within a society, allowing them to develop their own character."

From their position in the family, and with more life experience than younger family members, grandparents are uniquely poised to see that differences between generations can be positive for all those concerned.

History
Although there have always been differences between the generations, the drastic differences that the term implies were not much in evidence until the twentieth century. Before that time, society was not very mobile. Young people typically lived near their extended families, worshiped in their childhood churches and often worked on the family farm or in a family business.

With the advent of television and movies, young people were exposed to cultural influences alien to their own families and cultures. Performers like Frank Sinatra, Elvis Presley, and James Dean won adulation from the younger generation but were often met with derogation from the older generation. Then came the 1960s, and civil rights and the Vietnam War exposed a more serious chasm between young and old

The Generation Gap Today
The generation gap that was so in evidence during the 60s has resurfaced, but it is not the disruptive force that it was during the Vietnam era, a 2009 study suggests. The Pew Research Center study found that 79% of Americans see major differences between younger and older adults in the way they look at the world. In 1969, a Gallup Poll found that a smaller percentage, 74%, perceived major differences.

Today, however, although more Americans see generational differences, most do not see them as divisive. That is partly because of the areas of difference. The top areas of disagreement between young and old, according to the Pew Research Study, are use of technology and taste in music. Grandparents are likely to have observed these differences in their grandchildren who are tweens, teens, and young adults.

Slightly behind these areas of difference are listed the following:

- Work ethic
- Moral values
- Respect for others
- Political views
- Attitudes toward different races and groups
- Religious beliefs.

Differences but Little Division
If large differences between the generations exist, why don't they spawn conflict? The answer is twofold.

First, the two largest areas of difference—technology and music—are less emotionally charged than political issues. The older generation is likely to be proud of the younger generation's prowess in technology rather than to view it as a problem. As for the musical differences, each generation wants its own style of music, and the older generation generally can relate to that desire.

Second, in the other areas of difference, the younger generation tends to regard the older generation as superior to their own generation—clearly a difference from the 1960s with its rallying cry of "Don't trust anyone over thirty." According to the Pew study, all generations regard older Americans as superior in moral values, work ethic and respect for others.

In one area those surveyed did regard the younger generation as superior—intolerance for different races and groups. A different survey by the Pew Research Center identifies "increasing acceptance of gays and lesbians" as a particular area of difference, with almost half of those up to age 49 seeing it as a good thing, but only 37% of those aged 50 to 64 agreeing and only 21% of those 65+.

Article source : https://www.verywellfamily.com/looking-at-the-generation-gap-1695859

--------------------------------------

Millennials are set to overtake Baby Boomers

as America's biggest generation

06 Mar 2018/ Richard Fry/ Senior Researcher, Pew Research Center

Millennials are on the cusp of surpassing Baby Boomers as the nation’s largest living adult generation, according to population projections from the U.S. Census Bureau. As of July 1, 2016 (the latest date for which population estimates are available), Millennials, whom we define as ages 20 to 35 in 2016, numbered 71 million, and Boomers (ages 52 to 70) numbered 74 million. Millennials are expected to overtake Boomers in population in 2019 as their numbers swell to 73 million and Boomers decline to 72 million. Generation X (ages 36 to 51 in 2016) is projected to pass the Boomers in population by 2028.

The Millennial generation continues to grow as young immigrants expand its ranks. Boomers – whose generation was defined by the boom in U.S. births following World War II – are aging and their numbers shrinking in size as the number of deaths among them exceeds the number of older immigrants arriving in the country.

Because generations are analytical constructs, it takes time for popular and expert consensus to develop as to the precise boundaries that demarcate one generation from another. Pew Research Center has assessed demographic, labor market, attitudinal and behavioral measures and has now established an endpoint – albeit inexact – for the Millennial generation. According to our revised definition, the youngest “Millennial” was born in 1996. This post has been updated accordingly (see note below).

Here’s a look at some generational projections:

Millennials

    With immigration adding more numbers to this group than any other, the Millennial population is projected to peak in 2036 at 76.2 million. Thereafter, the oldest Millennial will be at least 56 years of age and mortality is projected to outweigh net immigration. By 2050 there will be a projected 74.3 million Millennials.

Generation X

1. For a few more years, Gen Xers are projected to remain the “middle child” of generations – caught between two larger generations, the Millennials and the Boomers. Gen Xers were born during a period when Americans were having fewer children than in later decades. When Gen Xers were born, births averaged around 3.4 million per year, compared with the 3.9 million annual rate from 1981 to 1996 when the Millennials were born.

2. Though the oldest Gen Xer was 51 in 2016, the Gen X population is projected to grow for a couple more years. Gen Xers are projected to outnumber Boomers in 2028, when there will be 64.6 million Gen Xers and 63.7 million Boomers. The Census Bureau projects that the Gen X population will peak at 65.8 million in 2018.

Baby Boomers

Baby Boomers have always had an outsize presence compared with other generations. They peaked at 78.8 million in 1999 and have remained the largest living adult generation.There were an estimated 74.1 million Boomers in 2016. By midcentury, the Boomer population is projected to dwindle to 16.6 million.

Note: This post was originally published on Jan. 16, 2015. It was updated April 25, 2016, under the headline “Millennials overtake Baby Boomers as America’s largest generation,” which reflected the Center’s definition of Millennials at the time (born between 1981 and 1997). This third version reflects the Center’s newly revised definition, under which Millennial births end in 1996.

Article source: https://www.weforum.org/agenda/2018/03/millennials-projected-to-overtake-baby-boomers-as-america-s-largest-generation

--------------------------------------

< Questions >

Q1. Which generation are you involved in among Millennials, Generation X, Boomers and Silent? 

Q2. Do you think we have battles of the generations? 

Q3. Do you think Millennials are the disadvantaged generation? 

Q4. Could you tell some differences between Millenials, Gen X and Gen Z? 

Q5. Which generation are you more look like among Millenials, Gen X and Gen Z? 

Q6. What's the side effects of generational imbalance? 

Q7. How could we bridge the wealth gap between the baby bommers and the millennials? 

Q8. Do you think Increasing the voting age can help to reflect more political needs of millennials? 

Q9. Society is getting aged and voices of younger generation is neglected often. Because Politicians are sensitive on the group of people who has the 'Wealth' and the 'Power'. And in our society, generally, 'Wealth' and 'Power' goes to the old generation. How could we let the politicians to develope more younger generation friendly policies? 

--------------------------------------

The Korean word that embodies the tension among generations building – and exploding – in the modern workplace.

By Soo Zee Kim/ 22nd July 2019

In the world of criticism toward millennials, there’s one group accused of being more self-entitled, self-righteous, and stubborn. They are called ‘kkondae’. In Korean, kkondae loosely translates as a “condescending older person”, the kind often found in a middle or upper management position in the workplace. Kkondaeis usually attributed to men, and almost always used as an insult, pointedly calling out supervisors who are quick to dole out unsolicited advice and even quicker to demand absolute obedience from their juniors.

Almost every workplace has some kkondae. And, despite an almost universal hatred of stubborn seniors, the term kkondae is unlikely to retire anytime soon. Baby boomers the world over are living longer and retiring later, exacerbating an already uncomfortable dynamic between young and old in the workplace.

Kkondae might conjure an image of one old man shaking his fist in consternation, sure. But to Korea’s young workforce, the generation gap feels like a chasm with an army of kkondae on the other side. Tension among generations is palpable as millennials start making up a significantly larger portion of the global workforce. As such, it is fitting to put a name to the phenomenon that is felt far wider than just South Korea.

This is one of the 101 indispensable things you need to know about work today. Click here to see the rest.
Image credit: Piero Zagami and Michela Nicchiotti.

Article source : https://www.bbc.com/worklife/article/20190718-kkondae

-------------------------------------
The word for “condescending old person” in Korean
What “kkondae” reveals about young South Koreans’ struggle against hierarchy
May 30th 2019

DO YOU FEEL that nobody around you shares your commitment to work? Do you offer unsolicited advice on the fashion choices or love lives of your younger colleagues? Are you irked when a junior office-mate fails to fetch you coffee? Beware: you are well into kkondae territory. South Korean youngsters suggest that you engage in quiet reflection to help you overcome your inflated sense of self-importance. You have to earn their respect. You cannot take it for granted just because you are older.

Kkondae is a modern word of uncertain origin—perhaps an adaptation of the English word “condescend”. It means an older person, usually a man, who expects unquestioning obedience from people who are junior. A kkondae is quick to criticise but will never admit his own mistakes. He retaliates against people who challenge his authority. South Koreans apply the word to everyone from narcissistic bosses to overbearing uncles and corrupt politicians. There are websites offering tests of kkondae-ness and tips on how to avoid the condition. A television channel recently dedicated a talk show to discussion of it.

Article source : https://www.economist.com/asia/2019/05/30/the-word-for-condescending-old-person-in-korean

-------------------------------------

[K-Terminology] Narcissistic 'kkondae' hated for ignoring others

By Ko Dong-hwan

"Kkondae," usually used for elderly people attached to the past and critical of those from younger generations,

refers to people who are authoritative, stubborn and lenient on themselves while hard on others.

/ A scene from "Nameless Gangster: Rules of Time" (2011)

"Kkondae," often used by those in teenage or older, refers to people who are authoritative, stubborn and lenient on themselves while hard on others. It is considered by many to be slang that refers to elderly people clinging to the past and who are critical of those from later eras.

Kkondaes are usually found in the top tiers of hierarchical organizations. Ousted President Park Geun-hye is considered an example because of her sense of self-righteousness. Despite prosecutors' solid questioning over charges including abuse of power, leaking state secrets and coercion, the former leader ― now locked in the Seoul Detention Center awaiting indictment ― denied all allegations.

When former senior presidential secretary Woo Byung-woo, another major suspect in the presidential corruption scandal, glared at a young female reporter who asked him questions when he was subpoenaed to prosecutors for questioning, the same sense was apparently seen, according to reports.

The term also applies to other people in organizations who have a sense of self-entitlement: those unafraid of wielding authority at the cost of subordinates' rights.

In 2014, Korean Air's then vice president Cho Hyun-ah complained about nuts that a stewardess served to her and ordered the flight return to the terminal. In another incident, a company executive threw boiling ramen at a stewardess because it did not taste good.

But it seems kkondae are becoming younger. A third-grade boy sparked big interest online last year when he jovially said in a news interview: "I become fourth grade in March. You younger kids better watch my words." Netizens later called him a kkondae wannabe.

A Hankuk University of Foreign Studies student earned the same nickname online after he used the school bulletin board to urge his peers to embrace the freshmen orientation culture, something widely criticized for forcing freshmen to put on talent shows in front of senior students.

One of the popular targets of being dubbed kkondae is school teachers, who are often portrayed

in movies oppressing students by instilling rules and knowledges. / A scene from "Friend" (2001)

Kkondae's root is unknown. But there is a strong belief that it derived from the French word "comte," meaning a count. During Japan's colonial rule in Korea (1910-1945), some Koreans who acted as a proxy for the Japanese military were awarded higher social status. They were known to have proudly referred to themselves as comte, pronouncing it wrongly as something similar to kkondae.

Others believe the term originates from the English word "condescend."

Wide hatred of kkondae or kkondae culture in Korea is based on the thinking they use their age and titles to prevent businesses from breaking outmoded traditions to grow and be globally competitive. The JoongAng Ilbo said: "Kkondaes are one of the reasons why Korea's gross domestic product per capita cannot ever pass the threshold of $30,000."

The daily paper Hankyoreh said: "Regardless of age and gender, anyone who wants to flaunt his or her title and wishes to be regarded accordingly can easily become kkondae." The report warned: "Take a look around and see how well you can spot kkondaes widely spread among us like landmines and how you treat them with ‘due' manner. Better yet, take a look at yourself and see if you are kkondae around your colleagues."

But some people are not so critical, especially the families and children of kkondae. One blogger introduced his father as a kkondae, followed by an admission that there must be reasons for it.

"My father must have acquired his life-surviving skills through countless trials and errors," the son said. "It is just that such skills do not work out these days. If I resolved to call him kkondae because we cannot understand each other, then it is as disheartening as ignoring his entire past for good and I will never be able to understand him at all. It is hard to change something dyed in the wool. We just need to start giving each other the benefit of the doubt."

Article source : https://www.koreatimes.co.kr/www/culture/2019/04/703_227091.html

-------------------------------------

< Questions >

Q1. Do you know the meaning of “kkondae”? Please explain it to other members.

Q2. Why the origin of “kkondae”?

Q3. What “kkondae” reveals about young South Koreans’ struggle against hierarchy. How about you? How do you feel about "kkondae”?

Q4. When you find "kkondae” around you, how do you react to them?

-------------------------------------

Work until 75? Many people won’t even live that long 
Iain Duncan Smith’s plan to push the pensions burden from the state on to the individual ignores class differences in life expectancy

Frances Ryan/ Thu 22 Aug 2019

 ‘Research this week shows the proportion of elderly people living in severe poverty

 in the UK is five times what it was in 1986.’ Photograph: EM Welch/Rex

An influential conservative thinktank – fronted by the former work and pensions secretary, Iain Duncan Smith – has proposed the state pension age should rise to 75 over the next 16 years. If the Centre for Social Justice (CSJ) had its way, the retirement age would go up to 70 just nine years from now, as the change is phased in.

It’s important to stress that it’s not yet government policy, but given the CSJ’s influence, it’s not unreasonable to imagine a future with dramatically delayed retirement. It’s a demographic reality that the state is having to meet higher pension costs: the pensions bill rose from £17bn in 1989 to £92bn today, and will cost £20bn more by 2023 as the population ages. The government already plans to increase the pension age to 67 in 2028 and then 68 by 2046, leaving us working well into our twilight years. At the same time, nearly 4 million women have already been forced to wait up to an extra six years to get their pensions after changes to bring women’s retirement age into line with men’s.
 
The CSJ’s idea of raising the pension age further received glowing coverage in sections of the rightwing press, with the Telegraph marvelling how it would “boost the economy” by £182bn and stave off the “escalating cost” of state pensions. As Duncan Smith tweeted this week: “Removing barriers for older people to working longer has the potential to improve health and wellbeing, increase retirement savings and ensure the full functioning of public services for all.” It’s a dystopian vision of life, in which capitalism tells workers who have already grafted for 40 years that working a five-day week through their 70s is in fact the path to a healthy body and society.

The “work pays” mantra endorsed by Duncan Smith for pensioners has already been adopted by the Department for Work and Pensions in relation to disabled people, where pushing the sick off out of work benefits and into the labour market has long been framed as a blessing.

Such policy is obtusely class blind. How long we live – and therefore how much time we have to enjoy retirement – varies across region and economic bracket. In Glasgow, boys born between 2015 and 2017 have a life expectancy of just 73.3 years – meaning under this plan, many would never reach pensionable age. Whether it’s even physically possible to do our job in old age varies along class lines; it’s a considerably different experience to be a labourer at 75 than a lecturer. Health inequality is also a stark factor; a woman living in the most deprived 10% of England, for example, has a life expectancy of 78.7 years, but only 52 of those years are in good health. Any rise in the pensionable age would force the poorest to work through years of illness and disability, while only the wealthy have the luxury to retire in good health.

The pressing issue is not that pensions are too generous – but that they are increasingly hard to get, and far too small. British basic pensions are uniquely low – 16% of average earnings – compared with those of other developed nations, and require a long contribution period (often penalising women who take time off for caring responsibilities). The existing system leaves many older people struggling to get by; research this week shows the proportion of elderly people living in severe poverty in the UK is five times what it was in 1986, the largest increase among western European countries.

The safety net of the state pension is even more crucial in an era in which private pensions are increasingly out of reach. The rise in gig-economy working, as well as a squeeze on wages, means workplace pensions are unaffordable or nonexistent for many. It means three-quarters of the UK’s elderly will rely entirely on their state payments by 2036. So in the coming years, it’s going to be increasingly important to defend the principle of the state pension: that welfare is not a waste or a drain, but a civilised safety net that exists for the good of society, which we are all entitled to. Similarly, we must challenge the worldview in which our only value is as workers; as if time with our grandchildren is less meaningful than more contribution to the GDP.

There needs to be a genuine conversation about how to fund an ageing population, from pensions to social care, but any agenda to push the burden away from the state and further on to the individual is a dangerous one. Working lives should be shorter, and the reward for a life of effort bigger. “Work till you drop” is no way to live.

Article source : https://www.theguardian.com/commentisfree/2019/aug/22/work-75-iain-duncan-smith-pensions-life-expectancy

-------------------------------------

What Generation Gap? Why millennials are already planning for early retirement

The Royals/ Dec 20, 2018 · 4

Retirement is traditionally the domain of the silver set. Now, writes Andrea Sophocleous, millennials are leading the charge toward early financial independence in bid to wrest back control of their lives.
“Retirement is the ugliest word in the language.”
Ernest Hemingway

Here’s one way to start a cult — by accident. Peter Adeney retired from his job as a software engineer in 2005, aged just 30, with $600,000 in savings and investments and a paid-off house worth $200,000. He pulled off this improbable feat by saving more than 50% of his take-home income through most of his 20s.

Almost 14 years later, he’s still retired and lives with his wife and 12-year-old son in Colorado, USA. Despite America’s driver-obsessed culture, the Adeney family prefers to bike and walk to places rather than drive a car.

Instead of spending money on gadgets and disposable goods, they spend time in nature and socialising with friends and family. The Adeney’s annual living expenses total a modest $34,000, with a third of that spent on health insurance.

It’s a lifestyle that shuns mindless spending and promotes savvy investment, with the aim of freeing up time to spend with the family rather than doing a job you hate.

The sentiment has gathered a cult-like following through the FIRE movement — which stands for Financial Independence, Retire Early. Its core message is about delivering control to a generation that feel they don’t have it.

A Reddit FIRE US forum has 471,000 subscribers, and a quick Google search reveals countless blogs, forums and meet ups for FIRE devotees — including several in Australia, such as Aussie Firebug and Get Money Wise.

Peter Adeney’s increasingly-popular personal blog, Mr Money Moustache, is full of tips and inspiration for anyone wanting to give FIRE a go — including how to embrace a frugal lifestyle (say goodbye to weekend blowouts and European holidays) and strategies for stashing your savings into income-producing assets.

In addition to his initial investments, Adeney has added more rental properties to his portfolio and has grown his blog into a profitable business, generating $400,000 of income in the last year alone. Even so, he sticks to his family’s $34,000 annual living expenses, rather than splurge on things like holidays or fancy cars. As he told one interviewer: “I get an emotional satisfaction out of being efficient. Waste hurts my soul.”

Peter Adeney, aka Mr Money Moustache.

But what’s it really about?
Early retirement isn’t really the point of FIRE, even though that’s what most of the media commentary tends to focus on. The movement is more about promoting a mindful lifestyle, with a tinge of conscious consumerism.

FIRE advocates speak about three major themes: a resistance to getting caught up in the rat race, not letting money control their life and valuing happiness over materialism.

In a New York Times article, 35-year-old former advertising creative director Scott Rieckens says the early retirement itself is less important:

“It’s more about gaining control of your time. If you dive into the definition of retirement, what you’re retiring from is mandatory labour. It’s not necessarily about piña coladas on the beach.”

Mr Moustache himself says FIRE is about opting out of the drudgery of work (particularly if it’s work you don’t enjoy) and not about never working another day in your life. In addition to working on his blog, Adeney hosts ‘business school’ workshops focused on how to start a business.

Unsurprisingly, FIRE’s biggest fans are millennials — a generation that’s grown up in a fluctuating economic environment, and one in which job stability is a mythical notion few have experienced. As one millennial FIRE blogger writes: “For our generation, it’s not uncommon to work your butt off, pull all sorts of overtime, successfully get a project in, and then be immediately laid off the next day. I’ve seen it happen.”

Of course, millennials don’t just face an unstable workplace — there’s also the not-so-small matter of an ailing planet, ravaged by a rush to produce and consume ‘things’. Perhaps more than any other generation before them, millennials feel they have little control over their future. So a movement that seems to deliver control and agency over their lives is understandably attractive.

Escaping the rat race is a big attraction of the FIRE movement.

What does it mean for the rest of us?
Even beyond millennials and hardcore FIRE devotees, the idea of reclaiming time lost to the mundane and the meaningless is an attractive proposition. As is being more financially savvy, and being smarter with how you spend your hard-earned money and invest in your future.

For banks and financial providers, FIRE can be a good thing if it means a growing number of people are looking for ways to boost their savings and maximise their investments. It means a greater opportunity to provide new financial products, helpful apps and relevant content that empowers this new generation of super-savers and conscious consumers.

For other businesses and brands, there is opportunity in focusing on the value of time and experience as a start to getting through to people with even a tiny bit of FIRE attitude.
Whatever the outcome, FIRE is causing a major rethink of what we need to live a good life — and that’s not a bad thing.

Andrea Sophocleous

Article source : https://everybodyknows.com.au/what-generation-gap-why-millennials-are-already-planning-for-early-retirement-f7635ce22c69

-------------------------------------

< Questions >

Q1. Do you have any retirement plan?

Q2. What do you think of government plan to increase retirement age?

Q3. What do you think of second job in your life time? 

Q4. How to resolve the generational tension in retirement policy?