two questions: 1) how many 70 to 80 year old's will still be able to do their job at 70 or 80?
2) what jobs will there be for those just getting out of school if people don't retire so they can have a job???
[[ “Retirement ages will have to move to 70, 80 years old,” ]]
Mr. Benmosche, obviously you don’t work very hard for your highly-paid position.
How would you expect the folks that DO have to “work hard” to keep working until they are 80?
An 80-year-old truck driver? Want to share the road with him?
An 80-year-old mason? He’s going to be heaving the cinder blocks like when he was 40?
An 80-year-old carpenter? Still swingin’ that hammer at 79?
An 80-year-old pilot? You want to be flying with him in command?
People are living longer, but the fact that they do isn’t necessarily extending their “productive years”. Rather, it’s the “post-productive” period of life that is being lengthened.
Hint to anyone reading this:
The retirement age probably isn’t going much higher.
Do you want to be the politician who raises it?
two questions: 1) how many 70 to 80 year old's will still be able to do their job at 70 or 80?
2) what jobs will there be for those just getting out of school if people don't retire so they can have a job???
I guess I have a pretty good compromise going. I’m 72, work permanent part-time, 25 hours a week and have total job security. There are days I have to drag myself to work but once there, it’s a breeze and I have afternoons for personal business. The extra money comes in handy and I only have to put in 2 more years to qualify for a pension. Half of me wants to retire fully, the other half says that would be dumb. LOL.
The greatest fraud ever forced on “free” people. Built on the backs of dead Americans. Socialist security. They need more dead Americans.
Socialism Is Legal Plunder - Bastiat
Plunder and death. Socialism 2.0
Dead but only after rigormortis sets in can one be truly retired.
The genius “financial planners” have moved the safe retirement withdrawal from 7% to 4% and now to 1.8% which means that a person retiring on 80% of the median income of say $50,000 would need $2,222,222.22 to “safely” retire. To accumulate this at 6%, what has become an optimistic rate of return you would have to save 27% of your gross income from the time you were 20 until you were 65. So after the gov take s 7.5% for FICA you would have 65% or about $32k / year to pay all your other taxes and live on.
It is probably not going to happen for anyone but a very few who are not on the public dole.
Almost all will be paying taxes to pay the retirement of teachers, firemen, cops, congressmen and other local, state and federal employees who will have retired at least 20 years before you do.
Lie down, roll over, sit-up, beg. LIKE IT.
In a few generations they’ll ask, “What’s ‘retirement’?”