Retirement age 'will rise to 85'

BBC News ^ | Last Updated: Friday, 17 February 2006, 23:57 GMT | Paul Rincon, BBC News science reporter, St Louis

[ThinkDifferent]

This is why I am going to start saving for retirement immediately once I begin working after college. No waiting except for maybe a couple months to get myself oriented. It has to start soon, for I can't count on getting ANY SS and heaven knows how little that covers anyway.

Exactly right. I don't understand the doom and gloom here. We're supposed to be on the side of personal responsibility, and we don't need government permission to retire.

[Iris7]

There are fools and jerks enough of any age.

Limiting costs by euthanasia and triage is the rule today and will be in the future. "Hospice care" is a morphine pump turned up all the way and no resuscitation.

It is cheap to warehouse people but terribly expensive to keep someone alive who is going to die anyway. Of course, all of us are "going to die anyway" and so the issue resolves to who decides who gets the chop. (As all issues are resolved in the end.) Lenin is famous for his "who - whom".

[Nexus6]

Wonder how my SS benefits are going to be affected when this puppy slams into our planet in 2028.

[freedumb2003]

However, just think of the millions of Generation Xers that will have to toil for an additional 20 or 25 years under the baby boomers. They will go absolutely bonkers.

No one has to "toil" for 10 minutes! Because anyone younger than 50 who thinks they will ever see a dime of SSI is out of their minds. SSI is NOT part of my retirement planning. If it there when I retire at an age of MY choosing, great. I'll use it for toys or somthing fun.

If you are under 50 and are stupid enough to include SSI in your retirement planning, you DESERVE to "toil" until you are 85.

[freedumb2003]

Wonder how my SS benefits are going to be affected when this puppy slams into our planet in 2028.

I don't know about you, but I know it will be reported that minorities and women will be hurt the most.

[RightWhale]

This could become a problem if we get past the end of March.

[mysterio]

Once again, society suffers because of the persecution of smokers. When everyone smoked, people stayed skinny, worked hard, and died at a reasonable age.

[Billthedrill]

Ooh - that doesn't look promising. But every cloud has a silver lining - my advice? Invest in umbrellas.

[freedumb2003]

But thats not a solution for a free capitalistic society. At some point we have to choose...either we want socialism or capitalism. This in-between BS really pisses me off.

You are right. We should exchange Norplant for welfare. As long as someone is on the public dole they aren't allowed to increase their dependency (and our tax buden).

[ChefKeith]

Federal government to delay the bankruptcy of the SSA.

BINGO!!

[Melas]

For $2,000 you can build a fine 8 x 10 shack. As you save more money, add onto it. In 5 years you'll have 40 x 50 shack. No mortgage necessary.

You must live in BFE where there are no codes and no zoning if you think that's even remotely viable.

[Nexus6]

Hopefully, we'll still have Ray Nagin on hand. His leadership will be invaluable when that asteroid hits planet earth. A time for healing, a time to rebuild into a chocolate planet.

[Melas]

I'd love to see both of those programs fall flat on their a$$es and die.

I imagine that's an extremely common sentiment amongst those who were able to retire at 46. Paris Hilton's crowd would likewise be happy to see all those eyesore Hondas and Fords off the roads, and all that (ugh) single family housing located to Apalachia where they wouldn't have to look at it.

[mrsmith]

"Hey! You kids get off my boss's lawn!"

[Melas]

Without a doubt. The resentment towards the entitlement class that could work, but won't work is growing. Unfortunately it's not growing fast enough for me.

[AlaskaErik]

I got a 30 year mortgage, but paid extra principal during a very prosperous long term consulting gig.

That's fine and dandy, but look at amortization tables. The first few years of a 30 year mortgage you're only paying 20-40 dollars a month towards principal. With a 15 year mortgage it's several hundred dollars. I plan on doing the same thing and hope to be paid off in 10 years, not 25.

[Not A Snowbird]

SSI is NOT part of my retirement planning. If it there when I retire at an age of MY choosing, great. I'll use it for toys or somthing fun.

I'm with you. If my husband and I ever see social security, it will be our "travel" money. I'm not counting on it, and when the time comes I won't be dependent on it.

[wtc911]

Making the statement that "some" younger freepers espouse euthanasia is not the same as making a statement about all young people or what my opinion is about all young people. And yet you accuse me of being intellectually dishonest.

[DumpsterDiver]

I imagine that's an extremely common sentiment amongst those who were able to retire at 46.

I am far from rich and have been told by financial planners that I was stupid to quit working at that age. I was able to retire because I had no debt and I am willing to live cheap. That doesn't cut it for most people.

Life is short. Twenty-nine years of working was enough for me.

[SauronOfMordor]

That's fine and dandy, but look at amortization tables. The first few years of a 30 year mortgage you're only paying 20-40 dollars a month towards principal.

And I paid off the 30-year mortgage in 8 years, by putting in extra principal payments whenever I could, while not being obligated to pay more than my standard payment in lean times