the company presents a gold watch to each of its retiring employees

Remember the good old days?  When people worked for the same company for 30 or 40 years?  Walked off the job with a fancy plaque and gold watch engraved with their name and company logo?  When family and friends would gather together đồ sộ celebrate a person’s journey into their golden years?  Well, let mạ put it đồ sộ you gently, the gigs up and retirement will never be the same.

The Gold Watch

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Apparently, the tradition of giving gold watches originated back đồ sộ the 1940s and The Pepsi Co.   The concept of "you gave us your time, now we are giving you ours," made sense when people stayed with a company for three or four decades and the price of gold was about $34 an ounce.  Today, the average length of job tenure is roughly five years and the price of gold hovers near $1,600 an ounce, a pricey change that would either put more companies out of business or see more watches over up in a pawn cửa hàng.

Smart phones and active retirees are also pushing the gold watch đồ sộ extinction.  Personal electronic devices not only provide the time but also keep retirees connected đồ sộ family and friends and serve as an invaluable tool đồ sộ keep the grand children occupied when they come đồ sộ visit.  Finally, the last nail in the coffin is that people today retire younger and with bigger bucket lists phàn nàn ever before, meaning they have other things đồ sộ bởi phàn nàn watch time go by.

Retirement & Other Party Invitations

Remember when snail mail used đồ sộ be important?  When it was the life line đồ sộ your social life, filled with invitations đồ sộ everything from retirement and birthday parties đồ sộ anniversaries and weddings?  Well, if you think you’re losing friends or missed a recent invitation because of a glitch in the postal service, it might be time đồ sộ climb out from underneath that rock you’re living under.

Like the gold watch, actual invitations that you can huyệt and organize on your fridge are disappearing.  Fact is, if you’re not on Facebook, don’t kiểm tra your gmail often enough, or don’t have a phone with texting capabilities you shouldn't be surprised if your social calendar isn't quite as full as it used đồ sộ be.  With social truyền thông media, text, and gmail you can literally create a tiệc nhỏ or sự kiện in mere days and have a head count solid enough đồ sộ satisfy the caterer. The old-fashioned method usually takes weeks and lượt thích the Pony Express, will no longer be part of the new retirement culture.

Fight technology if you want, but don’t complain if you find yourself alone and frequently checking your gold watch as life passes you by.

Pensions and Entitlements

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In the old days, there was a bond between employers and employees… a shared sacrifice where the employees would exchange their best and most productive years for pensions and health insurance (as well as social security) after they retired.  However, what most people don’t realize is that company benefits such as pensions and health insurance, as well as entitlement programs lượt thích Social Security and Medicare were originally created when life expectancy was well below the national retirement age of 65.  People retired and did nothing but relax because they were likely đồ sộ die within a couple years, if they made it that long.  Companies, along with the government could almost expect đồ sộ never đồ sộ pay a dime đồ sộ most people nor face years of hefty health insurance related claims.

Pensions and entitlement programs weren’t designed đồ sộ be fair or equal, they were designed đồ sộ get less productive people off the job and make room for younger workers.  Now people are living well into their 80’s, collecting payments for longer periods of time and carrying with them ongoing medical needs with constantly rising costs... and it's a crushing burden that we all know and realize will change.

Unlike gold watches and hand-held invitations, pensions including those of state and local governments as well as programs lượt thích Social Security and Medicare won’t vanish, they’ll simply become the illusion they used đồ sộ be… something you read and hear about, but rarely ever get.

Whether you realize it or not, the practices and traditions that once made retirement special and alluring are losing their luster.  Retirement traditions lượt thích the gold watch, hand-held invitations, and entitlement programs are becoming lượt thích old records, drive-in movies, and gelatin molds; just distant memories of a past.   A fact that is best characterized by William Shakespeare famous quote, “What's past is prologue,” or a humble beginning for the best of  what’s đồ sộ come next.

P.S.  If you found this article helpful, please let mạ know by leaving a comment.  Also, if you're interested in a copy of my latest FREE guide:  Three Things No One Tells You About Retirement please click here.

Follow Robert on or on Twitter @robertlaura

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