Discover more from The Sunday Drive by Mike Allison
Sunday Drive - 09/18/2022 Edition
👋🏻 Hello friends,
Greetings from Saratoga Springs, NY! Take it easy and enjoy this week's leisurely Sunday Drive around the internet.
The Vibe of the Week is a bit of a pick me up after a crazy, depressing week in the markets. Enjoy The Future's So Bright from the 1986 album Greetings from Timbuk 3 by the Austin, TX based band of the same name.
💡 Quote of the Week
"There is nothing so useless as doing efficiently that which should not be done at all."
- Peter Drucker
📈 Chart of the Week
💭 Thought Bubble of the Week
Don't retire. Not in the traditional sense of the word at least.
Cast in the historical context of earnings over a working career, the green line in the Chart of the Week, appears somewhat benign. Americans in their peak earning years (45-54) will rise modestly over the next 20 years. Thanks, Millennials!
However, the red line, which depicts The Elderly (65 and older), will continue to rise meaningfully for the next several decades. This should be of concern to all of us.
The blue line shows that the ratio of Peak Earners to Elderly crested about 15 years ago, has declined precipitously ever since, and will flatten out in the next five years or so to an unsustainably low level.
So what's the message we should take from these data items?
Don't retire. Our economic system as we know it cannot be sustained if those who turn 65 just check out and leave the productive economy, en masse.
The good news?
Investments in longevity research, more flexible and lower cost ways of monetizing our wisdom and knowledge, and an evolving societal attitude about the value of ever more scarce human capital all point to happier, more fulfilling outcomes as we age.
🤔 Prepare for the Great Age Reboot - Excellent interview with Professor Peter Linneman of The Wharton School, U. Penn on how longevity is “the greatest disruptor ever” — and why it’s essential.
💡 Focus and Finding Your Favorite Problems - “Jony Ive was talking about Steve Jobs: 'Steve was the most remarkably focused person I have ever met in my life.' That should tell you to do an audit of your life. Am I focused?”
💼 Help wanted: No over-50s need apply - The Age Discrimination in Employment Act offers scant protection to older workers.
🤓 The Truth About Starting a New Career After 50 - More Americans are experiencing second and even third careers. Is it time to retire the concept of retirement?
I hope you have a relaxing weekend and a great week ahead. See you next Sunday...
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