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WSJ Your Money Briefing

Are You Prepared for a 60-Year Career?

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.81.6K Ratings

🗓️ 13 September 2023

⏱️ 10 minutes

🧾️ Download transcript

Summary

As Americans live longer, healthier lives, the traditional 40-year career will become a thing of the past. Our three-part series explores how to navigate a longer career and what it could mean for the future of work and your finances. This first episode examines what exactly a 60-year career might entail and how you can start mentally preparing yourself for one. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

People are living longer, so the career you expected to cap off at 40 years could last 60.

0:06.5

There are very few people who can work 40 years and save enough money to not work for another 30.

0:13.0

Get ready for a 60-year career with a special series on your money briefing from the Wall Street Journal.

0:19.0

Wednesdays in September.

0:24.0

It's lunchtime in Midtown Manhattan, and at Bryant Park where lots of workers come looking for some sunlight,

0:29.5

fresh air, and time away from their desks.

0:32.5

We found 23-year-old Danielle Lavante from Long Island, New York.

0:36.5

She's an assistant buyer for a discount retailer.

0:39.5

She's been working there for just over a year, but we wanted to get her thoughts on something way down the line.

0:44.5

Retirement.

0:46.5

I've heard a lot that our age range will have to work more than the normal 65, so I'm definitely trying to do anything I can to not have that happen to me.

0:55.5

Danielle has just started contributing to her 401k.

0:58.5

She, like many young workers, realizes that just having a 401k might not be enough.

1:04.5

She also understands that the blueprint for a traditional retirement may not apply to her generation.

1:10.5

I don't want to be in my 70s working full-time, so it's definitely scary.

1:15.5

It makes me worry for the rest of my generation as well, because I think not everybody has a good grasp or understanding of how to avoid that happening.

1:25.5

This is a special edition of your money briefing for Wednesday, September 13th.

1:30.5

I'm JR Whalen for the Wall Street Journal.

1:34.5

Today, we begin a three-part series that could change the way you think about the future of work, your career, and retirement.

1:42.5

Most people look ahead to their mid 60s as around the time their working years will end, capping off a 40-year career.

1:49.5

But people are living longer, healthier lives, and living expenses are certain to keep rising.

1:55.5

So for a lot of us, our working life is likely to last for two more decades, a 60-year career.

...

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