Metformin has been used for more than 60 years to lower blood-sugar levels in people with type 2 diabetes — and is the second most-prescribed medication in the United States. The drug has long been known to have effects beyond treating diabetes, leading researchers to study it against conditions such as cancer, cardiovascular disease and ageing…
The researchers observed that the drug slowed the biological ageing of many tissues, including from the lung, kidney, liver, skin and the brain’s frontal lobe. They also found that it curbed chronic inflammation, a key hallmark of ageing. The study was not intended to see whether the drug extended the animals’ lifespans; previous research has not established an impact on lifespan2 but has shown lengthened healthspan3 — the number of years an organism lives in good health. The brain aged more slowly in monkeys given a cheap diabetes drug https://www.nature.com/articles/d41586-024-02938-w
I briefly considered medical school when I was in my 20’s. I never considered medical school when I was in my 60’s. Wonderful story. A very impressive human being.
Retirement doesn’t just raise financial concerns – it can also mean feeling unmoored and irrelevant
Published: August 29, 2024 8:49am EDT
Author
Marianne Janack John Stewart Kennedy Professor of Philosophy, Hamilton College
Disclosure statement
Marianne Janack does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
But this might not be the biggest problem that potential retirees face. The deeper issues of meaning, relevance and identity that retirement can bring to the fore are more significant to some workers.
Work has become central to the modern American identity, as journalist Derek Thompson bemoans in The Atlantic. And some theorists have argued that work shapes what we are. For most people, as business ethicist Al Gini argues, one’s work – which is usually also one’s job – means more than a paycheck. Work can structure our friendships, our understandings of ourselves and others, our ideas about free time, our forms of entertainment – indeed our lives.
I teach a philosophy course about the self, and I find that most of my students think of the problems of identity without thinking about how a job will make them into a particular kind of person. They think mostly about the prestige and pay that come with certain jobs, or about where jobs are located. But when we get to existentialist philosophers such as Jean-Paul Sartre and Simone de Beauvoir, I often urge them to think about what it means to say, as the existentialists do, that “you are what you do.”
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How you spend 40 years of your life, I tell them, for at least 40 hours each week – the time many people spend at their jobs – is not just a financial decision. And I have come to see that retirement isn’t just a financial decision, either, as I consider that next phase of my life.
Usefulness, tools and freedom
For Greek and Roman philosophers, leisure was more noble than work. The life of the craftsperson, artisan – or even that of the university professor or the lawyer – was to be avoided if wealth made that possible.
The good life was a life not driven by the necessity of producing goods or making money. Work, Aristotle thought, was an obstacle to the achievement of the particular forms of excellence characteristic of human life, like thought, contemplation and study – activities that express the particular character of human beings and are done for their own sake.
And so, one might surmise, retirement would be something that would allow people the kind of leisure that is essential to human excellence. But contemporary retirement does not seem to encourage leisure devoted to developing human excellence, partly because it follows a long period of making oneself into an object – something that is not free.
German philosopher Immanuel Kant distinguished between the value of objects and of subjects by the idea of “use.” Objects are not free: They are meant to be used, like tools – their value is tied to their usefulness. But rational beings like humans, who are subjects, are more than their use value – they are valuable in their own right, unlike tools.
And yet, much of contemporary work culture encourages workers to think of themselves and their value in terms of their use value, a change that would have made both Kant and the ancient Greek and Roman philosophers wonder why people didn’t retire as soon as they could.
But as one of my colleagues said when I asked him about retirement: “If I’m not a college professor, then what am I?” Another friend, who retired at 59, told me that she does not like to describe herself as retired, even though she is. “Retired implies useless,” she said.
So retiring is not just giving up a way of making money; it is a deeply existential issue, one that challenges one’s idea of oneself, one’s place in the world, and one’s usefulness.
One might want to say, with Kant and the ancients, that those of us who have tangled up our identities with our jobs have made ourselves into tools, and we should throw off our shackles by retiring as soon as possible. And perhaps from the outside perspective, that’s true.
But from the participant perspective, it’s harder to resist the ways in which what we have done has made us what we are. Rather than worry about our finances, we should worry, as we think about retirement, more about what the good life for creatures like us – those who are now free from our jobs – should be.
At the age of fifty I began the process of becoming what I wanted to be. I had known for a long time that I was a teacher and that the vehicle for my teaching would be in my writing. I also came to the conclusion I would never be compensated well enough through writing to support myself and my family. So I got good at something else.
That something else has and continues to provide a good living.
What I do is who I am and who I am is what I do. No existential crisis here.
For some, it can be dangerous. In the past few years, reports have swelled of people, especially teens, experiencing short- and long-term “marijuana-induced psychosis,” with consequences including hospitalizations for chronic vomiting and auditory hallucinations of talking birds. Multiple studies have drawn a link between heavy use of high-potency marijuana, in particular, and the development of psychological disorders, including schizophrenia, although a causal connection hasn’t been proved. “It’s entirely possible that this new kind of cannabis—very strong, used in these very intensive patterns—could do permanent brain damage to teenagers because that’s when the brain is developing a lot,” Keith Humphreys, a Stanford psychiatry professor and a former drug-policy adviser to the Obama administration, told me. Humphreys stressed that the share of people who have isolated psychotic episodes on weed will be “much larger” than the number of people who end up permanently altered. But even a temporary bout of psychosis is pretty bad. Marijuana Is Too Strong Now – https://www.theatlantic.com/ideas/archive/2024/08/high-potency-marijuana-regulation/679639/
If you’ve been to my blog before I apologize for repeating myself. But for new readers I’m past the “traditional” retirement age of 65. I don’t want to retire nor do I intend to retire for several years. One word describes why I continue to work. FEAR. I’m afraid of living too long and outliving my savings. I am petrified of leaving the workforce and no longer having an earned income stream. Living on a fixed income when the cost of everything keeps going higher scares the shit out of me.
Amidst my fear and anxiety the Social Security Administration approved my application for retirement benefits. When I looked at my monthly benefit I was pleasantly surprised. I then added up our future income sources and calculated that our fixed income from social security plus a small defined benefit pension plan will cover 82.5% of our current monthly expenses. Add in future annual withdrawals from savings and investments The Boss and I are financially OK until our nineties.
My fears are overblown. Check this out:
Conventional financial planning also overstates the income seniors need. That owes partly to planners assuming that seniors require the same amount of money throughout retirement. Yet as economists Michael Hurd and Susanne Rohwedder of the Rand Corp. have shown, average household spending drops by roughly 40% from age 65 to 90. Seniors aren’t running out of money—spending on gifts and donations increases with age. Retirees simply spend less on themselves than financial planners assume.
Planners likewise forget that much of adults’ pre-retirement income is spent on their children. The U.S. estimates that a couple earning roughly $83,000 with two children spends more than $26,000 annually providing food, housing, healthcare and other needs for their children. That’s money parents can’t spend on themselves. Of the income they could devote to their own needs, Social Security will replace around 60%. The upshot is that parents need less savings on top of Social Security than one might think. You Don’t Need to Be a Millionaire to Retire By Andrew G. Biggshttps://www.aei.org/op-eds/you-dont-need-to-be-a-millionaire-to-retire/
“I faced a painful reality: I didn’t know anything about anything….”
Andy Clarke – financial writer and editor, a retired CFA dispensing advice to retirees on investing and savings.
A 2021 survey by Pew Research looked at the question another way: It asked people from around the world what made their lives meaningful. In countries such as Italy, Spain, and Sweden, work ranked highly as a source of meaning. In Italy, work was the No. 1 source of meaning, with 43% saying they drew meaning from work. Spaniards ranked work higher than family. But in the US, only 17% mentioned work as a source of meaning. That was a sharp decline from when Pew asked the same question four years prior — a full one-third of Americans mentioned their jobs as a source of meaning in 2017, double the 2021 rate. Increasingly, it seems that more people feel like their jobs don’t matter. Why so many Americans hate their jobs — https://www.businessinsider.com/american-employees-disengaged-work-meaningless-fake-email-jobs-2024-6
Here are some of the biggest reasons some people don’t have enough money saved for retirement:
You don’t make enough money. This is likely the biggest reason most households don’t have enough retirement savings. Some people simply don’t earn a high enough income to have any money left over.
There are personal finance people who would like you to believe it’s all bad habits that cause people to under-fund their retirement.
Many people don’t have any excess remaining after paying for necessities.
We saved as much as we could and if I work a few more years we can plump up our financial cushion. Our expenses will likely be less in the years to come (except someone’s clothing/shoe/Tiny Human budget and that someone is not me). So with a willing employer and continued good health I plan to work full time for a few more years and then ease into retirement by continuing to work part time.
The first five years of my 30 Year Plan is complete. Now I need to work on what to do for the 25 years afterwards.
A quick rundown: First, in the middle of the month, news broke that Superpedestrian was shutting down just 18 months after raising $125 million in fresh funding. A few days later, Micromobility.com, formerly known as Helbiz, was delisted from Nasdaq for failing to maintain a share price above $1. Then came the biggest shockwave of all: Bird, the largest e-scooter company in the U.S. with a one-time valuation of $2.5 billion, filed for bankruptcy.
TBH I never understood this e-scooter thing from the very beginning.
Maybe I’m too risk adverse.
UCLA-led research finds that scooter injuries nearly tripled across the U.S. from 2016 to 2020, with a concurrent increase in severe injuries requiring orthopedic and plastic surgery over the same period.
The study, which compared national trends in scooter and bicycle injuries during the period, also found that costs to treat those injuries rose five-fold, highlighting the financial strain these injuries pose to the healthcare system — a finding that “underscores a critical juncture for discerning the underlying causes of injuries and informing policies for injury prevention,” the researchers note.
University of California – Los Angeles Health Sciences. “Hospitalizations for scooter injuries nearly tripled in the US between 2016 and 2020, UCLA-led research finds.” ScienceDaily. ScienceDaily, 9 January 2024 — https://www.sciencedaily.com/releases/2024/01/240109121215.htm
Turkey’s Koc Holding said it revoked an agreement with Ford Motor and South Korean battery maker LG Energy Solution for a joint venture to produce battery cells for commercial electric vehicles…LGES said the three companies had mutually agreed to scrap the plan due to the current pace of consumer electrification adoption.
At the end of Q3 2023, Hertz told investors that significant price cutting during the year had “resulted in lower EV residual values, increasing vehicle depreciation expense and negatively impacting salvage cost.” Additionally, its rental EVs were damaged or crashed more often, and the much higher cost of repairs for Tesla vehicles—on average about 20 percent higher than other EVs—has meant that Hertz’s Teslas earn it less money per vehicle than its other rentals.
Consequently, it’s selling off 20,000 EVs over the course of this year. Currently, the company has over 700 EVs for sale, including 35 Chevrolet Bolts, four Kia EV6s, a single BMW i3 and Nissan Leaf, and then 673 Teslas—552 Model 3s and another 121 Model Ys.
There is a reason for such unusually rapid depreciation. It is precisely because the device is in need of a new battery – and the cost of that battery is (in this case) in the range of $13,000-plus. Not counting the cost of the installation.
Over the past few years, as Tesla built out its gigafactory near Berlin, it cut down around half a million trees.Kayrros, a company that analyzes satellite images using AI, made the calculation. Tesla cleared around 813 acres of forest between March 2020 and May 2023, according to the analysis. Tesla cut down 500,000 trees to build its German gigafactory
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