It’s a generational thing rant.

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When a boss complains about his staff who does it reflect more poorly on? The staff or the boss?
I didn’t hire him. I am also not his senior as far as company hierarchy, I am only his senior in I have been at it longer and am older.
Mentor/senior tech, not boss.
We are hired in the same position essentially. Not his senior tech, boss, mentor in any capacity other then we currently tag team gigs and he does not know how to do basic tasks to expected standard so I have to show him.
 
One difference between baby boomers and gen z is this thing that was called a pension. They no longer exist for most. There was a social contract that said if you work hard at a crappy job at least you will be paid a living wage. No more. I think ‘kids today’ have it harder than the previous few generations.
I never had a pension plan anywhere I worked and I'm 56. Those have mostly been replaced with 401(k) or similar plans (al93ng with RSUs at some medium to large companies). I'd much rather have a 401(k) that I can roll over into a self-managed IRA than a pension tied to a company that might go belly up, get bought, or otherwise cause pension obligations to disappear.

Individual responsibility for retirement savings is better than a "social contract" that 1) ties the employee to past employers and 2) does not enable the employee to maximize his/her ROI and/or manage their own funds according to their own desires re:risk, social responsibility, etc.
 
I didn’t hire him. I am also not his senior as far as company hierarchy, I am only his senior in I have been at it longer and am older.

We are hired in the same position essentially. Not his senior tech, boss, mentor in any capacity other then we currently tag team gigs and he does not know how to do basic tasks to expected standard so I have to show him.
That makes it worse. I hope he's not earning the same pay for his "work" as you are.
 
I never had a pension plan anywhere I worked and I'm 56.

Individual responsibility for retirement savings is better than a "social contract" that 1) ties the employee to past employers and 2) does not enable the employee to maximize his/her ROI and/or manage their own funds according to their own desires re:risk, social responsibility, etc.
I said baby boomers. Pensions have been on they way out for a long time. I’d like to hear about a 401k that through maximum ROI makes you 2/3 of your average income like a good pension used to. That would take some serious work. And that assumes you have interest and aptitude for investing. Giving the money to a big bank to invest is somehow more personably responsible than letting a pension fund manager without the profit shaved off the top do it.
 
The more you train him (if he makes less than you) the sooner they lay you off and keep him. 🤔. But if your the standup generation you train them. These days it seems to be about good enough. Tech changes so rapidly.

I had the reverse situation. A decade ago. I went to work for a movie production cable channel. I had been a boutique broadcast production facility (mostly commercials) before and had three years off. At the new place the engineers were in their 30s and 40s and I was 60. They taught me a bunch of tricks and speed of light editing to keep up with the production load. (Mostly trailers). It was simply a different routine than my old gig. Actually required learning the productions done for the last 2 years. I was use to using EDL’s. With computer Video editing there were no EDL’s. You just had figure the breaks and assemble from the transfer and find and grab the old PT session. Editors had Amazing chops. Go figure. Kicked myself in the ass to speed up which is the only thing that matters. Quality is a given.
 
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I didn’t hire him. I am also not his senior as far as company hierarchy, I am only his senior in I have been at it longer and am older.

We are hired in the same position essentially. Not his senior tech, boss, mentor in any capacity other then we currently tag team gigs and he does not know how to do basic tasks to expected standard so I have to show him.

If you are viewed as equals in the hierarchy by management / owners then you have much more serious problems than a kid with a phone. That's what I'm poking at. This frustration of yours at the kid is misplaced and I'd suggest it's an expression of something else.

I hope you can find a place to work where your experience is valued and that you'll share it generously.
 
A parallel to illustrate.

If a client can't tell the difference between my mastering at 10X the price of a kid in his Mom's basement, or worse a mastering "A.I." like LANDR, then it's natural to want to lash out.

I can criticize basement kid for "undercutting" me and devaluing the craft. I can criticize the client for not caring about music, or art.

Or..... I can look in the mirror and ask why they can't perceive the difference? If the client can't see or hear it then it's not a meaningful difference. My job is to add value, and make that value add palpable and desirable. If I'm in the buggy whip game then it's time to pivot.
 
I said baby boomers. Pensions have been on they way out for a long time. I’d like to hear about a 401k that through maximum ROI makes you 2/3 of your average income like a good pension used to. That would take some serious work. And that assumes you have interest and aptitude for investing. Giving the money to a big bank to invest is somehow more personably responsible than letting a pension fund manager without the profit shaved off the top do it.
You said kids today have it harder than previous generations. You and I are both early GenX. I certainly don't feel a lack of pension plan made my life harder than my parents' or my grandparents' who had pensions. Why? Because virtually everything else was better.

It's the same with the current generation except many don't seem to have any ties to the not-so-distant past when life really was hard. I guess that comes from too many decades of soft times. Maybe you also grew up hearing about life in the Great Depression from your grandparents, great aunts/uncles. Or perhaps war stories from Europe.

Compound interest plus maximizing tax deferred savings will do it with typical long term stock market gains. Yes, like most things in life you have to take some responsibility, learn, and even <shock, horror> make a few sacrifices along the way if you want a comfortable retirement.

How are pensions funded? Magic? As far as I'm concerned, the risk is lower with 401(k)/IRA than with pensions in the modern world. Until Biden at least. Now everything is messed up.
 
I said baby boomers. Pensions have been on they way out for a long time. I’d like to hear about a 401k that through maximum ROI makes you 2/3 of your average income like a good pension used to. That would take some serious work. And that assumes you have interest and aptitude for investing. Giving the money to a big bank to invest is somehow more personably responsible than letting a pension fund manager without the profit shaved off the top do it.
You don't need 2/3 of your old salary to live on. My pension is about 1/3 of my salary at the time I retired, but I no longer have a mortgage to pay or three kids to bring up. We are not rich but neither are we poor.

Cheers

Ian
 
My implication was that a pension at 2/3 salary no longer exists because it is untenable. The future was mortgaged to provide that. Can’t blame that on the kids.

I’ve been self employed my entire career. I work mostly on non pop music. I never expected to make a lot of money or anyone to do me any favors. I would however like it if the self employed didn’t have to pay both employer and employee FICA. That is truly unfair. I’m 56 too.
 
Pensions were eliminated because they were overly beneficial to employees and corporations found it more profitable to not pay for that.
 
My implication was that a pension at 2/3 salary no longer exists because it is untenable. The future was mortgaged to provide that. Can’t blame that on the kids.

I’ve been self employed my entire career. I work mostly on non pop music. I never expected to make a lot of money or anyone to do me any favors. I would however like it if the self employed didn’t have to pay both employer and employee FICA. That is truly unfair. I’m 56 too.
If you like FDR and his policies you can thank him. The money for SS has to come from somewhere. I did independent contracting for a couple of years. You have my respect for being self-employed for that long. I enjoyed it once I got used to it, but then an old colleague contacted me with an offer I couldn't refuse "workin' for the man" again. I hope you're taking full advantage of SEP IRA savings.
 
Pensions were eliminated because they were overly beneficial to employees and corporations found it more profitable to not pay for that.
401(k) and similar plans also have advantages. And being stuck with a single employer for an entire career wasn't necessarily good for employees, either. One door closes, another one opens.
 
When looking at a 401k and diy investing it looks good because there has been 4 decades of falling rates and easy money creating the greatest stock, bond, real estate, bull run in history. Someone staring their career 40 years ago had it made in that regard. A 20 something starting their career now will not get anything close to that level of return. In fact they are kind of screwed, because so much of the future profit and gains have been pulled forward.
 
When looking at a 401k and diy investing it looks good because there has been 4 decades of falling rates and easy money creating the greatest stock, bond, real estate, bull run in history. Someone staring their career 40 years ago had it made in that regard. A 20 something starting their career now will not get anything close to that level of return. In fact they are kind of screwed, because so much of the future profit and gains have been pulled forward.
Future predicting of that magnitude isn't something I'm going to dive into. I will say that if we continue growing government and creating/enabling a whole class of dependents, the future for all of us looks bad. It isn't sustainable socially or financially.
 
If you like FDR and his policies you can thank him. The money for SS has to come from somewhere. I did independent contracting for a couple of years. You have my respect for being self-employed for that long. I enjoyed it once I got used to it, but then an old colleague contacted me with an offer I couldn't refuse "workin' for the man" again. I hope you're taking full advantage of SEP IRA savings.

I’m happy to pay into SS. Being self employed you have to pay in twice as much for the same benefits. You have to pay both the employee and employer FICA contributions. That is what is unfair.
 
I’m happy to pay into SS. Being self employed you have to pay in twice as much for the same benefits. You have to pay both the employee and employer FICA contributions. That is what is unfair.
Why is it unfair? FICA is 15%. If you work for a corporation you pay half (7.5%) and they pay half. Why should self-employed people pay less per head?
 
Why is it unfair? FICA is 15%. If you work for a corporation you pay half (7.5%) and they pay half. Why should self-employed people pay less per head?
It depends on what you consider a head. I employ no one but myself. I think I’m being penalized for not working for someone else. That’s one of the main incentives for companies to label everyone self employed. That way they pay nothing. That’s illegal but common practice.
 
Boomer here.....

Yes, self-employed pay more social security out of pocket (been there done that), but as AP already explained that is to make up for the employer's equal share... This is not unfair, if your employer pays half it is still coming out of your payroll budget indirectly. No free rides here.

So many victims, who do we blame?

JR

PS; I have been self employed multiple times, paid my share of SE FICA over the decades.. Now i'm on the receiving end.
 
Boomer here.....

Yes, self-employed pay more social security out of pocket (been there done that), but as AP already explained that is to make up for the employer's equal share... This is not unfair,
It’s great if you are Uber and can toss it on the back of you self employee’s. The rules are heavily tilted towards employers. They can pay nothing if they can call you self employed. The employee has the non choice of paying double. I can imagine a more equitable system.
 
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