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Originally Posted by retiredguy123
I know that it is illegal to discriminate against a job applicant in their 50's, 60's, and 70's, but does the law really make sense? If you are trying to run a profitable business, do you want to invest in someone who is that close to retirement? There are people in their 80's and 90's with Government jobs being paid more than anyone else, who call in sick 2 or 3 days per week, and it is illegal to even ask them to retire. But, the Government can afford to pay those people. Businesses who need to make a profit cannot.
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I am knocking on the door of turning 59. I hope to work full-time for another 6 years, then start collecting SS and work part-time. In today's workforce, most people in their 20's and 30's will stay at a job for 4 or 5 years tops, then move on to the next opportunity. This happens frequently at my current company and also happened at my previous company. Most millennials see what happened to their parents who worked for a company for 20+ years then were downsized in their 50's. At most companies, there is little to no loyalty shown by either the employer or the employee.
So what is the difference between hiring a qualified 30 year old who will probably stay with the company for 5 years then move on and hiring an equally qualified person in their late 50's who will probably stay for 6 or 7 years (maybe longer)?
Is it even wise for someone in their 20's to work at the same company for 20+ years? I don't know if that will happen any longer in today's economic environment. I stayed with one employer for 27 years. I don't know if that was a wise move or not, but that's water under the bridge at this point. At least I was there long enough to qualify for the parent company's pension plan before that was discontinued in 2014.
Finding a new job 4 years ago at age 55 was not easy. Even with today's very low unemployment rate, I don't imagine finding a good job with health insurance and the standard benefit package at age 59 would be a walk in the park.