Careers.....Boomers vs Millennias

[K.Aoi]

This paragraph speaks volumes as to the attitudes of the different generations.

Yeah, older generations believed that your life was only worth something if you dedicated your entire life to your company that didn't give a **** about you. Younger generations realize that living to work is stupid. Unfortunately, that makes us ""lazy"" and ""entitled"" (sarcasm, since some people clearly don't understand that)

 

[alarmguy]

Ive been self employed my whole life and just had to rely on myself to put away money in a Roth and make my own investments.
I do understand about companies dropping pensions but I dont understand the reference to Health Benefits.

I am now retired and have a great medical plan through United Heath Care. After paying my own heath insurance my entire life having a medicare plan that cost me only $194. a month is a bargain, $170 taken out of my Social Security payment and $24 a month I pay.
Im not sure what benefits a company can provide as far as heath care one you retire. Im covered for dental, vision, gym membership and health. No deductible but you do have co-pays and a max out of pocket expense of $4500 a year. Which still seems reasonable because I never get close to that.

Also in that plan I can buy $400 a year of free over the counter items and I get $10 a month for walking 7500 steps for any ten days in a month and the gym membership I belong too is over $100 a month all at no cost.

 

[PimTac]

Younger generations realize that living to work is stupid. Unfortunately, that makes us ""lazy"" and ""entitled""

There ya go.

 

[K.Aoi]

Ive been self employed my whole life and just had to rely on myself to put away money in a Roth and make my own investments.
I do understand about companies dropping pensions but I dont understand the reference to Health Benefits.

I am now retired and have a great medical plan through United Heath Care. After paying my own heath insurance my entire life having a medicare plan that cost me only $200. a month is a bargain Im not sure what benefits a company can provide as far as heath care one you retire. Im covered for dental, vision, gym membership and health. No deductible but you do have co-pays and a max out of pocket expense of $4500 a year.
Also in that plan I can buy $400 a year of free over the counter items and I get $10 a month for walking 7500 steps for any ten days in a month and the gym membership I belong too is over $100 a month all at no cost.

This is only tangentially related, but I can't believe Americans have been brainwashed into thinking $200/mo with a 4500 max out of pocket annual health insurance plan is GOOD. I have German friends who don't even know what the word deductible means.

 

[K.Aoi]

There ya go.

Why not just live and sleep at work?

 

[JeffKeryk]

My father got out of the Army in WW2 ....went to Texas A &M and got a mechanical eng degree and worked for Conoco his whole life ....he retired and Depont bought out Conoco i think in 1980.....anyway with his stock options he was millionaire overnight ....my luck....he remarried had no will and died a few weeks after his 58th b-day in 1982.....his "new" wife got everything.....she was 36 he was 58 ....or about 1.4 million ....I got 10k. She did alright for a bimbo.
I wasted 2k on a lawyer.....nothing could be done. He had told my mother he had a will with my brother and me getting everything....he lied and did not....im still mad at him 40 years later for lying. When i die the first thing im going to say to him is "you a-hole"

It is important, highly important, to have your intensions codified in place. I know it ain't cheap, but everyone should get this done.
I have my trust in place, but need to make some changes.

Thanks for your post remining me to get it in gear.

 

[PimTac]

Why not just live and sleep at work?

I did for four years. It’s called the military.

I also considered my work as a purpose in life. Working in a hospital means helping those who are in need.

Everything you touch, eat, or use was made possible by someone else’s sweat.

 

[UncleDave]

Yeah, older generations believed that your life was only worth something if you dedicated your entire life to your company that didn't give a **** about you. Younger generations realize that living to work is stupid. Unfortunately, that makes us ""lazy"" and ""entitled"" (sarcasm, since some people clearly don't understand that)

Living to work is stupid. So is moving on from something promising after only 6-7 months because you couldn't "make an impact" or move up quickly enough.

I look for a resume that shows a bit of balance in dedication and a bunch of jobs with a year or less tells me I'll be paying to onboard someone that will likely just quit.

I find work ethic is more a function of upbringing and family than it is generational.

 

[K.Aoi]

I did for four years. It’s called the military.

I also considered my work as a purpose in life. Working in a hospital means helping those who are in need.

Everything you touch, eat, or use was made possible by someone else’s sweat.

The military is an exception and you know it- and signed up for it. There's also nothing wrong with considering your work as a purpose in life, especially if you do work that helps people. But that doesn't mean that everyone, in every position in every company should be expected to feel that way or be called lazy. Nobody should be expected to devote their entire lives to a company that doesn't care about them for fear of being ridiculed. Life is too short to spend every waking moment working.

 

[alarmguy]

This is only tangentially related, but I can't believe Americans have been brainwashed into thinking $200/mo with a 4500 max out of pocket annual health insurance plan is GOOD. I have German friends who don't even know what the word deductible means.

I rather be in control.
7.5% of their income and their company pays another 7.5% is for medical insurance and 15% if you are self employeed. So either way, 15% of income and you can only go to public doctors and hospitals.
About 10% of Germanys population pays for private insurance, guess what? They get to go to private hospitals and private doctors.
Its all good though, just saying, there isnt a magic free heath care goose and when you are REALLY sick, many wealthy people from overseas look to the USA for help. Germanys heathcare system isnt ranked super high for quality of care unless you are one of those 10 percenters to buy private insurance.
Ps, not debating, just saying when it comes to health care cost, there isnt a utopia, and I am also not saying the German system is bad. I am saying I like my health insurance here in the USA!

 

[PimTac]

The military is an exception and you know it- and signed up for it. There's also nothing wrong with considering your work as a purpose in life, especially if you do work that helps people. But that doesn't mean that everyone, in every position in every company should be expected to feel that way or be called lazy. Nobody should be expected to devote their entire lives to a company that doesn't care about them for fear of being ridiculed. Life is too short to spend every waking moment working.

What would you do otherwise? Relax? Play?

All work has a purpose when you think about it. Society is built by productive people, whether they are digging ditches or programming computers or whatever.

 

[jeepman3071]

There are several different factors, but the biggest one in my opinion being a millennial is lack of company loyalty. I'm 31 and have worked for 5 different employers. Many of these employers promise promotions or opportunities for advancement, but even after exceeding metrics, doing training and gaining more skills the only way to advance is to go to another company. My last employer I worked at for 5 years. I had an outstanding reputation with every client, won several awards for exceeding metrics, actually saved my company tons of money by revising processes, and yet when it came time for my review it was the same old "here is a 2% raise and a pizza party, you are just lucky to work here" mindset. Nevermind the fact that they would hire people below me, with average work ethic and skills and pay them more, because it was the only way they would find anyone.

In most settings, working hard means you will be the one picking up the slack for everyone else. Most companies are concerned with beating previous quarters' profits, so they make you work crazy hours, no work/life balance, call on weekends, etc so you are burned out. Most of my millennial friends are similar to me, they work more than one job, have a side business, invest, etc, so work ethic isn't the problem, I just think the days of working at one job and having a lifelong career with one company are gone. Companies are instead following the model of spending the least they can on the workforce to maximize profits. The insurance company I worked at just after college had a 50% yearly turnover rate for my position, they had built into their workforce model the expected yearly turnover, because it was cheaper for them to be a revolving door for entry level positions instead of finding and molding capable candidates.

 

[K.Aoi]

What would you do otherwise? Relax? Play?

All work has a purpose when you think about it. Society is built by productive people, whether they are digging ditches or programming computers or whatever.

Uh... Yes? Do fun things? Travel and seen new places? Sleep? Shows the difference in thinking where you are essentially scoffing at people who dare do things such as relax when they could be working. Here's a fun fact for you, productivity after 32 hours a week is essentially regressive, working longer hours does not necessarily equal more productive. Humans aren't machines. Here's a fun statistic for you that demonstrate why your way of thinking is outdated.

An average worker needs to work a mere 11 hours per week to produce as much as one working 40 hours per week in 1950.

http://groups.csail.mit.edu/mac/users/rauch/worktime/

 

[CKN]

Ive been self employed my whole life and just had to rely on myself to put away money in a Roth and make my own investments.
I do understand about companies dropping pensions but I dont understand the reference to Health Benefits.

I am now retired and have a great medical plan through United Heath Care. After paying my own heath insurance my entire life having a medicare plan that cost me only $194. a month is a bargain, $170 taken out of my Social Security payment and $24 a month I pay.
Im not sure what benefits a company can provide as far as heath care one you retire. Im covered for dental, vision, gym membership and health. No deductible but you do have co-pays and a max out of pocket expense of $4500 a year. Which still seems reasonable because I never get close to that.

Also in that plan I can buy $400 a year of free over the counter items and I get $10 a month for walking 7500 steps for any ten days in a month and the gym membership I belong too is over $100 a month all at no cost.

Of course there was a recent government study stating that Medicare "disadvatage plans" put off needed care, and won't approve treatment especially if they feel you will die in the near future. I have an original medicare plan, and part "B", a prescription drug plan, a dental/ vision plan and yes it costs many times more than what you pay. However-I had a procedure in the hospital and for 24 hours of care the cost was $16,000.00 . Not pre approval needed and the paid almost all the claim.
And my part "B" will pay up to $50,000.00 any where I travel.

My wife has a similar plan as you.through UHP. Such plans are great if you don't need to use them.

 

[alarmguy]

Of course there was a recent government study stating that Medicare "disadvatage plans" put off needed care, and won't approve treatment especially if they feel you will die in the near future. I have an original medicare plan, and part "B", a prescription drug plan, a dental/ vision plan and yes it costs many times more than what you pay. However-I had a procedure in the hospital and for 24 hours of care the cost was $16,000.00 . Not pre approval needed and the paid almost all the claim.
And my part "B" will pay up to $50,000.00 any where I travel.

My wife has a similar plan as you.through UHP. Such plans are great if you don't need to use them.

I dont agree. I think your perception is wrong but I cant speak for the plan someone else has in a sea of many different types of plans throughout the states. I like choice and Im good at making choices.

I like options and months of research on deciding a plan, my care has been great, I can see any specialist I want and I have had specialists regarding my heart. There is no gate keeper, I have not needed any pre-approvals and its the same health insurance provided by any huge corporation. There are no hospitals or specialists in my area that do not take my insurance, after all United Health Care is huge.
Yes, just like corporate heath insurance I suppose something can be denied but as the government study showed 70% or more of the time when it was "protested" it was approved. (much is news sensationalism but agree some merit too though greatly exaggerated) To me, it doesnt matter, I wont pay $250 to $300 dollars more a month to get health care I am entitled too. Its really that simple, I make sure I get what I pay for in everything in life.

My 50,000 anywhere travel has a lower decidable than your Part B too. I think you have a $5000 deducatable. I have none. Just the fact you brought that up tells me your wife has a vastly different plan. There are so many choices and I love choices.

Choices are good though, we pay for what something is worth to us. My older brother who had Medicare and Medigap G been though quad bypasses, ect ect, heart failure ect, ect... just switched over to Advantage C because he saw what I was paying. He uses Humana, $750 deductible, 2500 out of pocket limit. They just paid for an "experimental" VTACH ablation using state of the art equipment that only one other location in the world currently has.

I want to stress I do understand how you feel, not debating you its worth the cost to you and nice to feel good about it. For me, I just couldn't justify the cost and in no way discounting paying for it.

 

[K-Man]

Late Boomer here. Actually I have a lot more in common with Gen X than with early Boomers. The opportunities and working conditions were different for someone born in 1946 compared with someone like me born in 1963. I've changed careers 3 times in my life. Staying at one employer for 40 years seemed unlikely early on.

The Millennials are right about company loyalty. The company I worked for in the 1980s began playing lots of games with benefits and instituted a university requirement for new hires and promotions, replacing a previous policy of starting from the bottom and working up, learning everything as you went. It went from promoting from within to hiring off the street to fill positions over employees who had patiently waited for years to try for that slot. All this time work conditions deteriorated, and I finally quit with no notice after 10 years.

I agree with the younger crowd. You might as well be mercenary. Your employer will screw you or let you go at the drop of a hat, especially when the CEO wants to buy another yacht.

 

[alarmguy]

To most corporations employees are just a gear in a gear case of thousands of gears. The companies are on their computers day and night trying to find a way to get rid of as many gears they can to streamline, reduce those gears and return profits to the shareholders, after all, if the heads of those departments and ultimately the CEO doesnt, they themselves will lose their jobs. The companies are the shareholders, they control not the heads of the company.

I agree, it doesnt pay to be loyal anymore unless you are treated really well and enjoy your position.
As far as the military, it can be a great career center to learn a trade or career after service. I know first hand someone who left the military, struggled for a couple years and boom, really made it big. Moved around a few times from really good paying job to better paying job, headhunters always approaching him in the tech/aerospace industry, great family man too.
Blows my mind the home he lives in, now a CEO in that field. Decades before he was dodging bullets in another country. But his drive to succeed in life got him to where he is. Real American success story with a great family.

 

[alarmguy]

Late Boomer here. Actually I have a lot more in common with Gen X than with early Boomers. The opportunities and working conditions were different

I agree with the younger crowd. You might as well be mercenary. Your employer will screw you or let you go at the drop of a hat, especially when the CEO wants to buy another yacht.

Yeah, but if you think about it, the CEO wouldnt have a job if he didnt slash and cut because it is the shareholders that control the company, the CEO is hired and fired by the shareholders.
This is what is different in the world today, We have gone from many private and small corporations to huge corporations and sophisticated computer models (from a time that computers didnt even exist) to maximize profits down to every last cent and the shareholders demand it.
Agree, it no longer pays to be loyal but its not really about the employer screwing you, its about shareholder demand for profits above all else.
IN reality it is our (and the worlds) society today, everyone out for themselves.

 

[UncleDave]

I agree with the younger crowd. You might as well be mercenary. Your employer will screw you or let you go at the drop of a hat, especially when the CEO wants to buy another yacht.

The screwing is far from one sided, and employees have a role to play in fairness as well.

When you are actually good to your employees and they reward that with zero loyalty because thats the trend, or some guy on the internet tells them not to give you a chance to even match if they find something that pays .03 cents better.

CEO's at private companies dont make nearly what the big corporate fat cats do.

Sometimes the boss is evil, sometimes he's a great guy trying to make it work for everyone.

 

[K.Aoi]

The screwing is far from one sided, and employees have a role to play in fairness as well.

When you are actually good to your employees and they reward that with zero loyalty because thats the trend, or some guy on the internet tells them not to give you a chance to even match if they find something that pays .03 cents better.

CEO's at private companies dont make nearly what the big corporate fat cats do.

Sometimes the boss is evil, sometimes he's a great guy trying to make it work for everyone.

In my experience, small companies are the most stingy with benefits. Why does nobody want to work in restaurants or stores now? Because you usually get zero benefits. No health insurance, no paid time off or sick time, no life insurance... Why would you work for them? Out of the goodness of their heart?