Social Security payments will be increased by 5.8 percent. According to the article posted on Yahoo, this is the largest increase in a quarter of a century. This will result in the average Social Security Payment increasing by an approximate $63.00 a month for the typical retiree.
As the article so astutely points out, this is really no big deal. Considering the state of the economy and that overall buying power has decreased by 51% since what now seems like that ancient year, 2000. Who would have thought we would see 2000 as the good old days. Only the end of the world ears were prevalent then, what with world clocks and computer failures. Now, forget the end of the world. We are in real trouble.
Home equity has declined, fuel and staple goods have increased. Stock portfolios have been decimated. In short, those who belived all those endless commercials and print ads about retiring in style are realizing they may be working longer than project. About ten to twenty years longer. Maybe they will work part time, maybe full time, but the reality for most people nearing retirement age is those days languishing on the golf course are probably another dream.
While most human resources people review employment candidates who were born in the late seventies, early eighties, as part of their preemployment screening programs, that dynamic may soon change. Those of Bommer age who were planning on retirement may have to go back into the work force. Because have been or will be downsized, thanks to their higher salaries and higher costs of health benefits, etc., they will be forced to go looking for new jobs. Jobs that may be paying less. They may find jobs as consultants.
In any case, human resource managers will soon be looking at candidates whose birth dates originate in the post-war years. That’s post World War Two. Not Vietnam or Iraq. When this is the case, the seven year criminal search will probably reveal little about misguided youth. Education verification searches may take longer, since the candidate probably will not be on the databases and instead in those hard copy files.
It’ll be a different world. Older folks working with the younger folks. Generation Xer’s stuck in the middle, aging themselves, but still waiting for the Boomers to get out of their way while concerned the younger generations will be creeping up on them. Everyone will be working or trying to work, or, perhaps, going into business for themselves.
So, to coin the Snow White Phrase, “Hi Ho, Hi Ho, It’s Off to Work We Go…” I know, it sounds painful. Well you can either keep working or take your average Social Security $63.00 monthly increase. It may not pay for your green fees, but it will probably buy a better brand of dog food.
