Retirement: Will you retire before he retires?

Retirement, this idea that may seem to us today as an acquired and self-evident right, did not exist from time immemorial. In fact, it is a relatively recent idea in the context of human history. Some economists who predict financial crises suggest that retirement may become a thing of the past in the near future. They point to low birth rates and the insistence of younger generations not to have children, which will lead to a society suffering from demographic aging, making the West's situation worse than Japan's. This all depends on the stability of the economy, which makes some people fear that we will continue to work until our last day, such as in France when the government delayed the retirement age by only a few years, sparking widespread protests and riots.

The evolution of the concept of retirement through the ages

In ancient times, working life was very different. Life expectations were very short, not exceeding the thirties, and working life was very arduous, especially for slaves. The workday would end when your boss decided it, and the whip was the biggest motivator rather than the stimulus stickers in modern offices.

Even in the most brilliant jobs, such as political or military positions, your career depended heavily on your social status. If you were lucky enough to be born into an elite family, you might climb the political or military ladder quickly, but the risk of disease was always life-threatening.

On the other hand, society respected those who had reached old age, as they considered those with experience and wisdom as if they had sacred knowledge. But despite this respect, the livelihood of retirees depended heavily on their savings and the support of their families. Without this, they would rely on the benevolence of strangers, unless they enjoyed With a military pension from the Roman army, soldiers received large bonuses after their service ended.

 Will technological and cultural progress make retirement easier or a thing of the past?

How will cultural and technological changes affect the future of retirement? As technology advances and new ideas about work and life emerge, retirement may become easier or become a thing of the past. Societies are likely to witness significant shifts in how they deal with ageing and work, potentially opening up new horizons for the concept of retirement.

Retirement: the evolution of the concept of retirement through the ages

In Roman times, Augustus, the first Roman emperor, introduced a retirement plan for soldiers known as "Aerarium Militare" in 13 BC. Although it seems like a progressive idea, it was not out of good, but to prevent former soldiers and young men from stirring up trouble. Until then, ancient civilizations used young people to counter specific threats, while the next day might have been to guard sheep or hunt down mythical beings. But when Rome went from a republic to an empire, it became necessary to transform the army into a real profession.

A look at the impact of retirement on society

Rome's retirement plan was initially met with hostility because it was financed by new taxes such as inheritance and sales tax, as well as from spoils collected during Roman expansion. However, citizens realized the benefits of not working until death, which contributed to the gradual acceptance of the idea. Thus, the foundations of new thinking about work began to take shape.

Medieval retirement

In the Middle Ages, societies underwent a transformation in the way work was organized and perceived thanks to the feudal system. Everyone had responsibilities within their community, reinforcing the idea of caring for the elderly as a natural role rather than a charitable act. Members of multigenerational families lived together under one roof, where men's physical strength was commensurate with the demands of agriculture, while women worked in fabric, which could be stopped to care for children. The elderly were guiding the young and helping to run the house.

Joining the church was an option for shelter and food, as elderly wisdom was highly valued. The monasteries provided a kind of financial stability and community support. Instead, unions were providing some kind of health and social insurance to artisans and merchants.

The Industrial Revolution and the Development of Work

With the arrival of the Industrial Revolution in the nineteenth century, the individualist view of work returned strongly. Industrial transformation has led to significant changes in society and the economy, opening up new opportunities for individuals to work and invest in their future. Concepts such as retirement and social insurance became more important with the development of the industrial economy.

The modern era and the future of retirement

In the modern era, with technological developments The world is witnessing significant changes in the labor market. Innovations can make retirement easier or may make it unnecessary. As new ideas about work and life emerge, we may see new retirement models that suit the changing needs of society. It is important to be prepared for these transformations and think strategically about how to achieve work-life balance in the future.

The emergence of the first welfare state

In the period of the Industrial Revolution, the world witnessed radical changes in the structure of work and the economy. The work focused on production and innovation, resulting in exponential growth and rapid technological development. Working life revolved around factories and the production of goods at affordable prices for the masses, irreversibly changing society. Working hours have been divided and are no longer tied to farmland, but rather to the factory whistle rather than the rooster.

With the class gap rising and social mobility difficult, work has become insecure with a surplus of

Low-skilled workers. The employer, who wears a fancy hat, has considerable power over daily working hours, quality of life and even family structure. The veteran worker could no longer rely on unions or religious institutions in his later years, making retirement elusive.

Login Auto von Bismarck

Then came Otto von Bismarck, Germany's iron chancellor, who radically changed the retirement equation. Born in 1815 and died in 1898, Bismarck had a long career in politics, igniting wars and uniting nations. But his most enduring legacy was the creation of the world's first welfare state.

In the late nineteenth century, there were labor unrest and civil conflicts with the rise of socialism and communism. Bismarck saw in the popularity of these movements a threat to the German Empire. Therefore, Bismarck decided to introduce a social insurance program that covers health insurance,

Accident insurance, retirement. Bismarck chose seventy as the retirement age, given the life expectancy at the time, and the program was funded by contributions from employers and workers.

Despite opposition from conservatives and socialists, Bismarck succeeded in implementing his policy, pacifying the labor movements and strengthening their loyalty to him. For the first time in history, Bismarck succeeded in developing a formal retirement plan that became a model for around the world, leading to a major shift in the government's responsibility to its people.

The Great Depression and Roosevelt

Despite Bismarck's success, he could not predict the Great Depression that hit the world in the thirties. When Franklin D. Roosevelt assumed the presidency in 1933, at the height of the Great Depression, he had the right mix of giving and assertiveness to improve the welfare state. Roosevelt was born into a wealthy family in 1882, but his political career was marked by progressive social attitudes, partly affected by his survival from paralysis.

Children in his youth, which gave him a new sense of purpose and resilience.

During his first 100 days in office, Roosevelt implemented the New Deal to confront economic problems head-on. This deal included public work projects, financial reforms, and regulations, all aimed at restoring the economic dignity of citizens.

Modern times and economic challenges

The Social Security Act of 1935 was the watershed that made retirement an integral part of the American dream, as did Bismarck's radical policies in previous decades. Thanks to this legislation, retirement is available to everyone, including the unemployed, the elderly, and people with disabilities, and Americans no longer need to work until they are physically unable to work.

However, there was no free of concerns. There have been fears of increasing pressure on the business community and giving the government considerable power over citizens' daily lives. There was concern that the economy might be hit by excess taxes that might hinder individual initiatives. Although the regime lasted for nearly 100 years, some of these criticisms proved valid. Demographic shifts have caused financial tensions, and increased life expectancy and lower birth rates have called into question the sustainability of the system.

The challenges of retirement in the twenty-first century

One of the most prominent critics of the twenty-first century is the political scientist Jacob Hacker, who points out in his book The Great Shift in Risk that responsibility for retirement planning has passed from government and employers to individuals. Hacker says that shifting from benefit-based retirement plans to specific contribution plans like 401(k) means that the risk of economic changes has become a problem for individuals rather than employers.

This situation raises questions about the adequacy of individual savings for the future, especially in light of the financial disasters in the United States where citizens lost their savings while the elite survived. Hacker points out that many new workers start their jobs without health insurance, because employers can no longer adequately provide it.

Discussion about the modern pension system

However, critics argue that privatization of risk can It encourages individuals to make wiser financial decisions, which can stimulate economic growth by fostering a responsive market. Financial education is also becoming more prevalent thanks to innovative technology. With educational options and flexibility at work, it may be time to place more responsibility for retirement on individuals. 

Some critics argue that traditional retirement plans are outdated amid dramatic changes in the labor market and technology. Others believe that the pension system is still necessary to ensure social protection, especially in light of the rapid aging population. 

In the end, the debate remains open about the future of retirement. Should we continue to rely on traditional retirement plans or adopt new models for the modern era? Share your opinion in the comments section, and if you liked this video, don't forget to watch our other videos about the history of unions. Thanks again to My Heritage, a leader in family history services and DNA testing, which makes it possible for everyone to continue learning How history develops.

 

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