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May 2nd, 2008

Send an email from the future

The technology is here, HT Seamus:

TimeMachiner is a new mini-app that lets you email people in the future. Use it to remind yourself to do something that you’ll more than likely forget, keep your future self on the straight and narrow, even wish your friends happy birthday…

Useful for reminding yourself of last year’s resolutions, but beyond that, what economically-interesting applications can y’all suggest?

Update: A loyal reader comments:

I can suggest one interesting experiment. Put up a website which provides this as a service. On the front page, put an easy-to-use form. Make the service free and open. Then have no privacy policy at all, so you can do what you like with all the email addresses you harvest. Then all the helpful bloggers will do your marketing for you. (Step 3: Profit!)

Good point…

May 1st, 2008

Myths and realities of the greying workforce

Via Economic Principals:

Myth: Given the growing retirement income challenge, people will have to work forever. Reality: If individuals worked full time until at least 66, they could enjoy a long and financially secure retirement, with incomes one-third higher than if they retired at 62.

Myth: Older workers will choose to work longer on their own. Reality: Most people retire as soon as benefits are available at age 62.

Myth: As baby boomers approach retirement, employers will embrace older workers. Reality: Many employers are lukewarm toward retaining older workers due to concerns that they cost too much, lack current skills, and don’t plan to stick around long.

Myth: Employers will quickly change their tune in response to labor shortage. Reality: Many employers with a high proportion of older workers are in declining industries. Others can tap global labor markets.

The original source is Working Longer: The Solution to the Retirement Income Challenge, by Alicia Munnell and Steven Sass. Update: Link fixed, thanks to a reader for pointing that out.


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