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some countries allow old people to work to any age they want . Do the advantages outweigh disadvantages?

#countries #people #work #age
In some countries,old people are permitted to work at any age that they want.There are more pros than cons associated with
this
 flexibility provided.I will elaborate on these and provide my opinion in the writing that follows. One of these pros of retiring late is a strong financial status.Parents usually spend their savings on their children's education and upbringing and
thus
, they financially depend on their kids later in their old life.
However
,when elder people work and earn even in their 60s and 70s,they become financially independent and put no extra pressure on their kids.
For instance
,an old person earning money at the age of 65 will be in a position to pay his rent,gas and grocery bills and will
also
 take care of his medical needs.
Hence
,financial stability and security help an individual run his livelihood by working late in life. Another benefit includes the increase in the economic growth of a nation.Older working professionals will fall in the income tax bracket and contribute to raising the overall wealth and development of their country.An apt example of
this
 is Japan which is one of the fastest growing economies since people work even in their 80s and add value to the growth of their nation.
Therefore
,
this
 flexible nature of working helps an economy to blossom immensely.
However
,it is not without limitations.One of these limitations is the delayed employment of future generations.Deserving candidates looking for jobs have an increased waiting period since the positions they are trying to hold are preoccupied and will be made available to them after the older officials resign.
This
 leaves them with lesser opportunities and they remain unemployed for a longer period of time. In conclusion , it is evident that the disadvantages are outweighed by the advantages of late retirement.I believe that not only does raising the bar on working age bring growth at an individual level but
also
 at a national level.
Submitted by POONAMMALIK1901 on

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