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As dads, we often feel it’s our right & responsibility to take care of our family. But, massive change is impacting how/if we work and the types of work we do.
As Gen X-ers, we grew up with grandparents who were able to stay in one job until retirement and collect a pension and Social Security. Our parent/parents mostly migrated from one W-2 job to another W-2 job with only some interruption. They are now retired and/or near retirement age and will collect Social Security.
But, the same can not be said for us.
Beginning in the 80’s, changes in book publishing and manuscript editing by freelancers seem to be the initial source of the trend that would impact us. The commercialization of the Internet in 90’s brought about marketplaces like Odesk (now Upwork) and more recently Fiverr set about other changes. A succession of economic downturns forced our generation to meet headlong with a change over from permanent/ W-2 work to “flex jobs” and/or freelance work, also referred to as a “gig economy”. This permanently interrupted what we previously thought was a “normal” world of work.
Social Security retirement benefits seem in question as well…
“After 2019, interest income and redemption of trust fund asset reserves from the General Fund of the Treasury will provide the resources needed to offset Social Security’s annual deficits until 2034, when the reserves will be depleted. Thereafter, scheduled tax income is projected to be sufficient to pay about three-quarters of scheduled benefits through the end of the projection period in 2090.” 2016 Summary of SSA Trustees
So, with these two macro events as our backdrop, where do we as a generation go next?
What are your thoughts on the future of work for our generation? Let me know in the comments below.