I generally disagree with some of the premise, but I do think it’s interesting. Taking advantage of one’s health and youth while one has it seems tempting.
On the other hand, worker productivity presumably goes down pretty fast once the worker in question is in their 60s-70s, just because they’re getting older, so there may not be anyone who wants to employ them.
You’ve also got the issue that social security benefits do somewhat depend on how much someone earned in their life (I believe, I’m no expert) - so what would be the benefit someone takes in their 30th year?
Yes, well maybe we will also expand our healthspan, or have AI to help us with worker productivity? 🤓
The case I make is for social security is a blend between Singapore’s system and our current 401k system. The employer contributes 20% of their salary to their 401k and their employer matches it. They can use those funds to take mini sabbaticals throughout their lives, rather than one long one at the end. But yes, it’s tied to income, so the more you make and the longer you stay in the workforce, the more money you save! (You won’t have very much money in there at the beginning, but you’ll have a lot by the end!)
It’s an interesting idea.
I generally disagree with some of the premise, but I do think it’s interesting. Taking advantage of one’s health and youth while one has it seems tempting.
On the other hand, worker productivity presumably goes down pretty fast once the worker in question is in their 60s-70s, just because they’re getting older, so there may not be anyone who wants to employ them.
You’ve also got the issue that social security benefits do somewhat depend on how much someone earned in their life (I believe, I’m no expert) - so what would be the benefit someone takes in their 30th year?
Yes, well maybe we will also expand our healthspan, or have AI to help us with worker productivity? 🤓
The case I make is for social security is a blend between Singapore’s system and our current 401k system. The employer contributes 20% of their salary to their 401k and their employer matches it. They can use those funds to take mini sabbaticals throughout their lives, rather than one long one at the end. But yes, it’s tied to income, so the more you make and the longer you stay in the workforce, the more money you save! (You won’t have very much money in there at the beginning, but you’ll have a lot by the end!)