Baby Boomer Retirement? We Wish!

2008-Jun-30

I’m a baby boomer. After 18 years with one company I was forced into “early retirement” when I was still in my 40s. Obviously I couldn’t actually retire since I’d have gotten a pension of about ten dollars a month. So I became a contract programmer, no job security, no benefits, just money. Which was OK until the Fortune 500 began replacing all of us with guestworkers and then offshoring. So for the last eight years I’ve been making a quarter of what I did before, mostly getting short term jobs fixing what the guestworkers screwed up.

Well, eventually I will have to actually retire. Or will I?

Every year, when it comes time for the next H1B guestworker lottery, we get weeping and wailing from the Fortune 500 about how they need an infinite number of foreign guestworkers because when my fellow boomers retire there will be fewer American workers replacing us.

But they are lying, because I will never be able to retire, and neither will many of my fellow boomers. We will have to work until we die in our tracks, because we are being forced out of jobs with retirement benefits into jobs with no benefits, being forced to take jobs that pay half to a fifth of what we used to get paid, if we can find jobs at all.

I have friends who used to be computer geeks who are now nurses, truck drivers, or working at grocery stores. They could still do the jobs that are now being done by guestworkers or offshores, but no one wants to give them medical or retirement benefits, and no one wants to give them any training (they’d prefer to hire someone who lies on their resume).

So we are doomed to have a huge number of unemployed or underemployed older workers being a drain on the economy rather than a boost. And all the cost savings from hiring cheap foreign labor go to the upper management., not into lower prices for consumers, nor higher dividends for stockholders, nor better wages for remaining workers.

Is there now a significant lack of skilled IT workers in the U.S.?

Executives are being told by their hiring managers that there are not skilled workers in the U.S. and they must seek H-1Bs to fill positions

How economic conditions affect retirement decisions

Younger workers struggling to find a job now have something else to worry about: older workers with little choice but to keep working, even in a weak labor market.

Comfortable retirement a fading dream for many

She’s already put off retirement several years. Now, she says she may have to stay on the job four or five years more.