With all the waves of layoffs primarily targeting seniors, it’s no longer a place where you can retire - you will be kicked out way before your legitimate retirement age.
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The truth is everyone needs to save/invest as early as possible and let the gains compound. Honestly, if you're in your 50s and saved/invested accordingly then you should have made a ki-ling at Shell. It's a problem, however, if you're trying to keep up with the joneseseseses.
The golden age of U.S. corporate employment with its established career paths, regular pay increases, defined benefits pensions, continued post-retirement medical coverage, etc. is history. The corporate raiders, hedge fund managers, institutional investment funds and the like saw to that, for better or worse.
What kinds of future the current employees or their kids would have as a result of breakups, selloffs, relentless analysts’ quarter-to-quarter pressure, etc. never entered the valuation equation.
The leaders of today, compared to those in the past who were often visionaries with ideals of furthering the long-term corporate entity, are merely well paid employees trying to stay ahead of trouble and keep their jobs. Maybe parlay the current CV title to jump ship for another short stint before results (or lack thereof) catch up.
Unfortunately, the wolves nipping up the tree trunk get those first that are clinging furthest down.
no
All jobs will be taken by robots
Being done in your 50s is a feature, not a bug.
I worry about all the jobs moving overseas and what our kids will have left to build a career
That is becoming a reality for most people in their 50s or older. AI slowly takes over jobs in all industries. The gov't can paint a rosy picture but USA owes 35 Trillion dollars in debt. If you've saved up, good for you, but you'll need double the amount you've saved up. Inflation may decrease for a few months due to election, but after the election, things are going to get a lot worse faster then ever. Save your pennies and stop spending it on junk that you really can live without. What will our kids do when they grow old. I worry.