Reply to Why Gen X is the real loser generation: the Economist

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[quote=Anonymous][quote=Anonymous]Born in 1979, perhaps the last Gen-Xer. I often wished I was 10 years older, so I could have experienced a bit more of the 70's, 80's, and 90's and fit in better with the rest of my Gen-X friends. I don't identify at all with the Millenials.

One thing I've learned is that you can't take your employment for granted. I saw my dad forced to take early retirement from IBM in 1992. He then worked for another decade in lower-paying tech jobs. It took him six months to find his next job after leaving IBM at age 57. Age discrimination is far worse now in the tech sector, where even being 40 years old is considered a liability and people are spending years to find their next tech job.

I ended up going in to steady Federal government work, and even that isn't guaranteed employment anymore. I saved and invested aggressively over my 22 years as a Federal employee and now have a net worth of $2M. I prepared myself to take early retirement, if it was offered at age 50, so that's why I was always maxing out my 401K and IRA every year.

Millenials and Gen Z are finding themselves in even less secure employment venues like being hired as an independent contractor, getting axed by some private equity firm or mega-corp, or piecing together work from the "gig" economy.

I really don't mind that Millenials are getting promoted over me. I don't need the additional income, and being a manager in the government doesn't pay much more anyway. It's just not worth the stress. I value my Gen-X work-life balance. I prefer being in this low-key, mostly ignored generation.[/quote]
I was born in 1970 and agree with this.   DH was aged out a couple of years ago at  59 in the tech sector.  I'm planning to retire next year.  I also saved as much as I could to be able to retire early. That was actually always my goal.

I agree with you about the gig economy.  I've been a contractor for most of my career. It has its pros and cons, but one thing I learned early in my career was that there is no such that employer loyalty to the employee.  [/quote]

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