And the birthrate plummeting. What a time to live as a south Korean
I believe this is a very powerful reason not to have kids. If you are in your 30s, working long hours struggling to pay a mortgage for an expensive apartment in the city and have to support your parents in their 60s because they are either not making enough money working or their state pension is paying them peanuts, how do you even have enough money to raise a kid and push them through all manners of extracurricular activities, as many East Asian parents tend to do? South Korea’s total fertility rate is 0.6. That, in a nutshell, means 40% of women choose never to have kids and the remaining 60% will only have 1 in her lifetime. At that rate, the size of each generation collapses by 70% and before long, South Korea will no longer exist.
Easy. Ask Japan for more compensation money.
I’m trying to save up for retirement, still a decade or two off but something on my mind. I don’t want to be a burden on my relatives. I can actually kind of see how attestupa would happen. If I got to the point where I couldn’t take care of myself, I think I could go with that option over burdening the next generation. I’m not saying others should, just that as my own personal choice I could see it. Still, it’s kind of ridiculous to think in those terms when we have billionaires about to become trillionaires, literally able to keep millions of people from having to even ponder such a choice.
If the chaebols in korea were actually worthy of their wealth and power, there wouldn’t be 40% of Koreans 66 and up in poverty.
I think it’s worth noting South Korea was also basically a third world country until the late 1960s. This is obviously a problem, and needs to be addressed, but South Korea also got a really late start in being a developed country so it doesn’t necessarily surprise me they might be behind in some aspects.
what is oecd
This is kind of due to multiple factors:
1. Did you know up until 70s, North Korea actually lived a better life in general than South Korea? Yeah, South Korea was really in a bad spot.
2. Older generation believed in sacrificing themselves for the good of the country, and for the good of the family. So whatever money they earned, went all into the family, and saved none for themselves.
3. There were no social safety net of any sorts, nor any retirement pension system. The official national pension system started in the late 80s.
So yeah… that’s why South Korea have a lot of older folks living in poverty. They got nothing saved.
ok?
Societies are going to face a terrible choice- support their elderly or not crush their tax base into oblivion. Supporting the elderly will kill birth rates, since you both won’t need kids to care for you as much, and because people won’t be able to afford kids.
The impending demographic collapse is going to cause a massive race to the bottom in elder care as young workers flee countries with very burdensome societies and nations have to compete to attract a tax base.
The article doesn’t really do much as far as describing what that’s like. I’m in the US, and living in poverty in my early retirement. But I have some savings and I own my house. Living in poverty isn’t especially hard. I don’t need new stuff, I have a closet full of clothes, I cook for myself, etc. It could very easily not be that easy elsewhere, but that would require some description.
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And the birthrate plummeting. What a time to live as a south Korean
I believe this is a very powerful reason not to have kids. If you are in your 30s, working long hours struggling to pay a mortgage for an expensive apartment in the city and have to support your parents in their 60s because they are either not making enough money working or their state pension is paying them peanuts, how do you even have enough money to raise a kid and push them through all manners of extracurricular activities, as many East Asian parents tend to do? South Korea’s total fertility rate is 0.6. That, in a nutshell, means 40% of women choose never to have kids and the remaining 60% will only have 1 in her lifetime. At that rate, the size of each generation collapses by 70% and before long, South Korea will no longer exist.
Easy. Ask Japan for more compensation money.
I’m trying to save up for retirement, still a decade or two off but something on my mind. I don’t want to be a burden on my relatives. I can actually kind of see how attestupa would happen. If I got to the point where I couldn’t take care of myself, I think I could go with that option over burdening the next generation. I’m not saying others should, just that as my own personal choice I could see it. Still, it’s kind of ridiculous to think in those terms when we have billionaires about to become trillionaires, literally able to keep millions of people from having to even ponder such a choice.
If the chaebols in korea were actually worthy of their wealth and power, there wouldn’t be 40% of Koreans 66 and up in poverty.
I think it’s worth noting South Korea was also basically a third world country until the late 1960s. This is obviously a problem, and needs to be addressed, but South Korea also got a really late start in being a developed country so it doesn’t necessarily surprise me they might be behind in some aspects.
what is oecd
This is kind of due to multiple factors:
1. Did you know up until 70s, North Korea actually lived a better life in general than South Korea? Yeah, South Korea was really in a bad spot.
2. Older generation believed in sacrificing themselves for the good of the country, and for the good of the family. So whatever money they earned, went all into the family, and saved none for themselves.
3. There were no social safety net of any sorts, nor any retirement pension system. The official national pension system started in the late 80s.
So yeah… that’s why South Korea have a lot of older folks living in poverty. They got nothing saved.
ok?
Societies are going to face a terrible choice- support their elderly or not crush their tax base into oblivion. Supporting the elderly will kill birth rates, since you both won’t need kids to care for you as much, and because people won’t be able to afford kids.
The impending demographic collapse is going to cause a massive race to the bottom in elder care as young workers flee countries with very burdensome societies and nations have to compete to attract a tax base.
The article doesn’t really do much as far as describing what that’s like. I’m in the US, and living in poverty in my early retirement. But I have some savings and I own my house. Living in poverty isn’t especially hard. I don’t need new stuff, I have a closet full of clothes, I cook for myself, etc. It could very easily not be that easy elsewhere, but that would require some description.