Is 48 Too Old To Be Working?
Baby boomers aren't retiring. Recession-battered savings, and the prospect of a decades-long retirement, have left them clinging to their jobs, keeping our nation's youth out of the workforce and forever stunting the younger generation's career potential.
That's the story we often hear. But that's not the story of Jack Ma, the 48-year-old CEO/billionaire of China's largest e-commerce conglomerate Alibaba Group, who announced Tuesday that he was stepping down in the spring and taking up the mantle of chairman.
I want to encourage our young leaders to step forward to ensure a smooth transition. At 48, I am no longer 'young' for the Internet business. The next generation of Alibaba people are better equipped to manage an Internet ecosystem like ours. I believe they understand the future better than I do.Although he's a few years shy of 50, Ma is convinced that he no longer has sufficient pluck to steer the ship. "When I was 35, I was so energetic and fresh-thinking," he said, "I had nothing to worry about."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV