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Drop Out

To add to my boomer rant, here's a NYTimes article that talks about people dropping out (mostly xers and those on the cusp). When there are no jobs because the boomers have everything locked up, all you can do is drop out. Enjoy.

"Millions of American men in the "prime of their lives" are unemployed by choice, according to a front page story set for Monday's edition of The New York Times."

"Millions of men in the prime of their lives, between 30 and 55, have dropped out of regular work," report Louis Uchitelle and David Leonhardt for The Times first article in its "New Gender Divide" series. They are turning down jobs they think are beneath them or are unable to find work for which they are qualified, even as an expanding economy offers opportunities to work."

"Alan Beggerow has stopped looking for work. Laid off as a steelworker at 48, he taught math for a while at a community college. But when that ended, he could not find a job that, in his view, was neither demeaning nor underpaid. So instead of heading to work, Beggerow, now 53, fills his days with diversions: playing the piano, reading histories and biographies, writing unpublished Western potboilers in the Louis L'Amour style -- all activities once relegated to his spare time. He often stays up late and sleeps until 11 a.m.

"I have come to realize that my free time is worth a lot to me," he said. To make ends meet, he has tapped the equity in his home through a $30,000 second mortgage, and he is drawing down the family's savings, at the rate of $7,500 a year. About $60,000 is left. His wife's income helps them scrape by. "If things really get tight," Beggerow said, "I might have to take a low-wage job, but I don't want to do that."

"Millions of men like Beggerow -- men in the prime of their lives, between 30 and 55 -- have dropped out of regular work. They are turning down jobs they think are beneath them or are unable to find work for which they are qualified. About 13 percent of American men in this age group are not working, up from 5 percent in the late 1960s. The difference represents 4 million men who would be working today if the employment rate had remained where it was in the 1950s and '60s."

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thats crazy
Submitted by lonewolf on Mon, 07/31/2006 - 22:57.

and its about to get worse....when men between 30-55 are dropping out of the workforce then you know the system is fucked up and needs a change, not now but right now. shoot it could get worse as there are many graduates of college this year and in the next few years coming out, and they, unless they become self employed will be thinking about getting in the same boat.

shoot, if i didnt need to save up money to move out on my own, id be right there with them folks but i wont quit. i will find something i know it

or go right back to school and go work at starbucks lol

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That isn't so bad
Submitted by wolfietherat on Tue, 08/01/2006 - 12:20.

Not to undermind the actual employmment fiasco but that sounds like early retirement while you still can enjoy it.

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Jesus!
Submitted by Tearful on Tue, 08/01/2006 - 17:54.

Interesting article, Napoleon. I don't admire the 53 year old who is sponging off of his wife. It's one thing to be unemployed, but when your wife is working and you're "spending down" the family assets in the name of rebellion agains "The Man", kind of makes others wonder what your motives are other than being lazy and worthless.

I completely agree that the job picture is far from what our parents had, but that does not negate the fact that people have to make a living somehow. If I were the man's wife, I'd quite also and write "unpublished western potboilers" (aka: worthless crap) along side him. What is interesting is what this man is going to do when his wife gets fed up and leaves his ass.

I have client's like this. They plan on early retirement or "semi-retirement" before they are anywhere near financially able to do so. They move to a low cost area and figure they will take "any menial, but noth beneath them, employment to pay the light bill". (in fact, it is amazing how many people do this in my area. It's like they have this "Certainly I'll be able to get a job in Hickville. I'll be royalty in Hickville and everybody will know it!!" attitude) Low and behold something goes wrong or they can't get a job and the creditors come a knocking. They then walk in nearly in tears saying to the effect "How did this happen? I deserve more than this. Why are they doing this to me? I don't want to work at McDonald's. That's beneath me." At that point their life is essentially ruined and they have to work until their dieing day doing a job they hate.

My point is that you've got to make ends meet some how. Dropping out and sponging your savings is only going to make things worse. Good article though.

T

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Semi retirement
Submitted by juliewess on Wed, 08/02/2006 - 15:54.

Your point is well taken tearful. I think people don't do the math when they think about "retiring". Even if you do move to some low cost area a million things come up unexpectedly. Your air conditioning breaks at your house -- $3000.00. You need some medical procedure or even a basic doctor visit -- $100.00. Yep, if you are going to even 'semi retire' you better have money and not count on getting a low paying job to get by. The year I did not work I spent about $10,000.00 and that was with no house payment and no car payment no medical bills no nothing. Just food and gas and utilities.

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