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AIG Chief Sees Retirement Age as High as 80 After Crisis

Posted on 06/04/2012 6:03:48 AM PDT by Perdogg

Link only due to copywrite issues


TOPICS: Business/Economy; Extended News; Miscellaneous
KEYWORDS: benbernanke; timgeithner; wallstreet

1 posted on 06/04/2012 6:03:52 AM PDT by Perdogg
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To: Perdogg

I’m not working until I’m 80 to pay for some deadbeat to retire from the public sector at 55.


2 posted on 06/04/2012 6:06:36 AM PDT by jersey117
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To: jersey117

The Germans feel that way about the Greeks right now.
Except I believe the Greeks get to retire at age 50!


3 posted on 06/04/2012 6:07:48 AM PDT by Maine Mariner
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To: Maine Mariner

I have a feeling that would only be through forced labor camps. There are a lot of other options for the Citizen to pursue before that is imposed upon us.


4 posted on 06/04/2012 6:09:36 AM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: Maine Mariner
Except I believe the Greeks get to retire at age 50!

Only if they work in a hazardous job. Which at this point includes things like Hair Dresser ( chemicals you see) and Journalist (germs on the microphone) as Mark Steyn pointed out.
5 posted on 06/04/2012 6:12:06 AM PDT by Kozak (The means of defence against foreign danger, have been always the instruments of tyranny at home JM)
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To: jersey117

55?

Ha we should be so lucky.


6 posted on 06/04/2012 6:16:00 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Kozak

All teachers and professors because of the stress?


7 posted on 06/04/2012 6:17:27 AM PDT by Maine Mariner
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To: Perdogg

Unless you own your own company it is not realistic, because in spite of age discrimination laws companies, trim older workers from their payrolls as they approach their early 60s.


8 posted on 06/04/2012 6:18:23 AM PDT by The Sons of Liberty (Sworn to Defend The Constitution Against ALL Enemies, Foreign and Domestic. So Help Me GOD!)
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To: Perdogg

In the Obama economy, there simply aren’t enough jobs to allow current members of the workforce to work for an additional 15-18 years, and still allow younger people into the workforce.


9 posted on 06/04/2012 6:19:00 AM PDT by Lou L (The Senate without a filibuster is just a 100-member version of the House.)
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To: Perdogg

Dick Lugar is 80, so I guess he was due.

Orrin Hatch is 78. Close enough for government work.


10 posted on 06/04/2012 6:27:53 AM PDT by southernnorthcarolina ("Better be wise by the misfortunes of others than by your own." -- Aesop)
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To: jersey117
"I’m not working until I’m 80 to pay for some deadbeat to retire from the public sector at 55." Honestly, the more things go the way they have been the more I don't want anything to do with a significant segment of the population. I'm very sad, and more than a little resentful.
11 posted on 06/04/2012 6:30:38 AM PDT by pieceofthepuzzle
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To: Perdogg

Thats a bit later that I’m planning on (I’m 51 and I don’t see retirement happening before 70).

But it sort of coincides with what I’ve said previously. With demographics being what they are, and with this country’s slow slide towards socialism, I think retirement will soon be a concept enjoyed only by the wealthy.


12 posted on 06/04/2012 6:31:06 AM PDT by kidd
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To: jersey117

—I’m not working until I’m 80 to pay for some deadbeat to retire from the public sector at 55.—

Though I agree with the sentiment, when this has played out, I think most of us will just be glad that we and “some” of our kids made it out alive. Assuming we DID.


13 posted on 06/04/2012 6:57:37 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Perdogg

—Greece, where the average life expectancy is 81.3 years, has an effective retirement age of 59.6, among the lowest in Europe, according to data compiled by Bloomberg. —

In the US, when SS was started, the average life expectancy was less than the SS retirement age. So in Greece, retirement now should kick in at 82.


14 posted on 06/04/2012 6:58:54 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: cuban leaf
when this has played out, I think most of us will just be glad that we and “some” of our kids made it out alive. Assuming we DID.

So true.

15 posted on 06/04/2012 6:59:44 AM PDT by jersey117
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To: The Sons of Liberty

—Unless you own your own company it is not realistic, because in spite of age discrimination laws companies, trim older workers from their payrolls as they approach their early 60s.—

I’m 58 and made the move back to IT contracting to enable my move from Seattle to KY. I made the decision last month that when I re-enter the job market I’m slicing the back 10 years off my resume and removing the dates from my school graduations. I can get away with it because I come across as anything from 15-20 years younger than I am, but I gotta get in the door first...

Contracting is great for “older” workers, because the employers want experience, first and foremost. Conversely, when hiring “employees”, they want something without too much mileage on it.


16 posted on 06/04/2012 7:02:32 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Perdogg

I am retiring at 62 1/2. Even if I am broke. I will sit on my ass and eat beefaroni and do nothing. I will go Galt. I am tired of feeding the pig.


17 posted on 06/04/2012 7:05:37 AM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Perdogg

Last I checked the average American MAN has a life expectancy of 72 years, maybe slightly more.

Lumping both sexes together distorts the overall picture because females live much longer than males on the average.

I suppose men now have to work to death before getting a cent from 60 years of paying in?
Not this one. I’m retiring at the fist allowable time.


18 posted on 06/04/2012 7:30:21 AM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: central_va

Guess I am in the minority here. Since my dad retired all he does is putter around the house. I think I’d go absolutely insane. I may keep on working till the day I die, strictly for mental health reasons.


19 posted on 06/04/2012 7:34:02 AM PDT by Buckeye McFrog
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To: bill1952; Perdogg
Last I checked the average American MAN has a life expectancy of 72 years, maybe slightly more.

It's almost 76 now.

20 posted on 06/04/2012 8:01:35 AM PDT by Paleo Conservative
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To: Paleo Conservative

>It’s almost 76 now.

Fair enough. Only have to be dead 4-5 years to collect.


21 posted on 06/04/2012 9:10:41 AM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: pieceofthepuzzle

I’m very sad, and more than a little resentful.

I am not resentful at all for those that chose to go into a field that allowed people to retire at 55. We all have choices. Some of you would like to take choice away. Should I be resentful to a Doctor who makes 10 times what I make because I didn’t chose to become a Doctor. You people make ZERO sense. I know it is jealousy on your part but still it seems so childish. Like you hate your life or something. You had every right to chose the job you did just like every other America.


22 posted on 06/04/2012 10:01:00 AM PDT by napscoordinator
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To: jersey117

Me neither. I’m already planning on expatriating to a country where I can retire early and live like a king on my savings. I’ve already written off Social Security, if I see a dime of that I’ll take it as a miracle.


23 posted on 06/04/2012 3:21:29 PM PDT by Boogieman
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To: Buckeye McFrog

That’s why you need to have a plan in place way before you retire. For example:

Monday - Putter around in the basement.
Tuesday - Putter around in the garage.
Wednesday - Putter around in the attic.
Thursday - Putter around in the closets and junk drawers.
Friday - Putter around in the yard (weather permitting).
Saturday - Putter around in the kitchen, while the womenfolk try to cooks meals around you.
Sunday - Putter around in church.


24 posted on 06/04/2012 3:28:25 PM PDT by Boogieman
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To: napscoordinator

The point that public sector workers’ comparatively lavish retirement benefits, which have steadily gotten out of line with the rest of the country over the past twenty years, are being paid for by private sector workers who would be working until quite elderly appears to have been lost upon you.

So, you’re a government worker, I suppose. It can’t last, you’ve got to realize that. It reeks of something distinctly unconservative. I honestly think benefits for government workers should be capped at the private sector equivalent on average. Ditch the defined benefit pension and schlep your amply padded backsides over to set up a 401k that’s sucking wind like the rest of us.


25 posted on 06/04/2012 3:50:24 PM PDT by RegulatorCountry
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To: RegulatorCountry

Well I worked with MANY government workers in the military and your BS is just that BS. You have no idea about this so called defined benefit. After 1986, the Government Worker is in the Thrift Savings Plan, basically a 401K. The folks retiring today are the ones that are getting the great government check but those are the older workers who are retiring TODAY. After those folks retire, the future retirees do not have the same deal. The problem with you and your ilk is that you believe that a person going to work for the government today gets the same deal. WRONG!!! Plus, a GS-11 who is VERY high on the Government pay scale gets a big check of 1800.00 every two weeks. Of course you fat cats seem to think that is a great deal of money. Once you pay mortgage, groceries, utilities, etc, there is not much left. Get over yourself and stop being jealous of those who chose their job field and worry about your work instead.


26 posted on 06/04/2012 4:25:41 PM PDT by napscoordinator
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To: napscoordinator
“You had every right to chose the job you did just like every other America.”

Yes, I did. I chose medicine, and I don't regret it because I feel that it is a privilege to take care of people's health. I think you misinterpreted my point. I have never begrudged anyone of what they make etc., but as an MD I have been the subject of lots and lots of inaccurate and sometimes hateful commentary, even from the current President of the US.

I generally don't care, but I find it really offensive when people who are part of the Obama-voting demographic who vote their own interest and who want the government to be my boss don't like it when other voters vote their own interest (e.g. stopping the economic burden that public union salaries and benefits are on many others in society). Medicine changed after I spent years training to be an MD, and that's just the way it is, and it is for me to deal with without threatening to beat up others in society who vote against what I believe in. If the public union gravy train changes for those who were counting on it, they also have to deal with it. They act as though they have a right to taxpayer money, and don't care if their unions act as bully's or if their contracts impoverish others. If the taxpaying public wasn't involved, it would be none of our business. As it happens, we are involved, and it is our business.

I think in many ways we are on the same page. By the way, I doubt that I make 10 times more than you do, but if I do I would suggest you are underpaid and deserve more.

27 posted on 06/04/2012 4:26:23 PM PDT by pieceofthepuzzle
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To: pieceofthepuzzle

Thank you for your post. I am fighting the idiot that wants to be your boss BIG TIME. He is so arrogant. We have the best medical in the World and he wants to ruin it. Thankfully I THINK we are going to win this battle with either the Supreme Court or voting his butt out office. Thanks for your kind word....I don’t make 10 times less than you do but close....lol. I was just being a bit exaggerated.


28 posted on 06/04/2012 4:29:41 PM PDT by napscoordinator
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To: napscoordinator

... Waaah, I’m only going to get $3,600.00 per month on top of Social Security and my Thrift plan, waah, it’s soooo haaaarrrrrd.

Ludicrous. It will be cut out of necessity because we’re broke. You do understand the word, right?

Broke. DC will get cheaper, that’s one upside for you. Here’s your chance to sell that six bedroom house at the peak of the government employee bubble.


29 posted on 06/04/2012 4:42:20 PM PDT by RegulatorCountry
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To: pieceofthepuzzle
as my dear sister vacations for 3 months in Florida having been retired from teaching for several years, as my husband who just turned 60 and myself nearly 59 look to continue working for several years.....my sister is 4 yrs older than me.....

wrong choices in life....we should have all been flunky govt workers and we would have won the golden parachute...

the most patriotic thing we can do is to try NOT to pay taxes....find a little at home business...deduct everything....do work under the table..etc....

there is no reason to keep working so our govt class can live in ease...to hell with that...

30 posted on 06/04/2012 5:18:43 PM PDT by cherry
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To: cuban leaf

actually older workers are better workers...better work ethic...we still believe that you work to do a good job and you work to help your company suceed....


31 posted on 06/04/2012 5:21:05 PM PDT by cherry
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To: RegulatorCountry

... Waaah, I’m only going to get $3,600.00 per month on top of Social Security and my Thrift plan, waah, it’s soooo haaaarrrrrd.

Your possibly are the dumbest FREEPER in history. I feel sad for your stupidity. They are getting 3600 dollars NOW you jerk. They will get the Thrift Plan only when they retire. No wonder you are not in Government. Your too dumb. We don’t have McDonald’s workers in the Government like yourself.


32 posted on 06/04/2012 5:42:30 PM PDT by napscoordinator
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To: napscoordinator

Get back to me with your sheer bureaucratic genius when you find yourself clamped on on a dry teat.


33 posted on 06/04/2012 5:51:24 PM PDT by RegulatorCountry
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To: RegulatorCountry

Jealousy is ugly. You will die of a heart attack worrying about everyone else. That is your choice though.


34 posted on 06/04/2012 5:54:00 PM PDT by napscoordinator
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To: napscoordinator
Rationalize it away however you want. Jealous? No. Smug entitled government puttybutts being all preachy about their own wisdom just brings out the conservative in me, and I want to smack it down. Does with most.

Now, why exactly are you here? Does your union approve?

35 posted on 06/04/2012 6:02:29 PM PDT by RegulatorCountry
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