Posted on 12/29/2013 7:00:27 PM PST by SeekAndFind
A global retirement crisis is bearing down on workers of all ages.
How retirement systems vary, country to country Associated Press Spawned years before the Great Recession and the financial meltdown in 2008, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching.
Many people will be forced to work well past the traditional retirement age of 65 to 70 or even longer. Living standards will fall, and poverty rates will rise for the elderly in wealthy countries that built safety nets for seniors after World War II.
(Excerpt) Read more at news.yahoo.com ...
There is a safety net, it’s called “saving money” in your 20s and 30s.
/johnny
Another reason why nuclear families are crucial as a support system....But the government has done everything they could to destroy traditional families.
What? Malthus was wrong? The hell you say! (Rolling eyes)
Who will take care of the retiring Mexicans with their kids coming here?
A crisis all right - no COLAs, no interest on your CDs, taxes, prices and bills go up. Won’t be nothing to leave the young uns.
You’ve definitely got to act wisely and think ahead. i retired from my government job at 54 and immediately got a new job in the private sector. In addition to my pension, I’ve got two 401(k)s and personal savings. Best of all, the stock market returns since 2009 have been fabulous.
The oil boom is going to adding an extra trillion dollars in 5 years annually to the US economy. 10 years from now it will be more like 2 trillion annually added to the US economy
The taxes that generaties mean that social security gets paid for and maybe to medicaid and medicare too.
Glad I retired when I did, 1999, age 54.
To 70 or longer? Hey, my Mom’s going to be 76 in February and she’s still full time.
The tougher problem we’ll face: convincing Mexicans who came here with their families to pay high taxes to support the old gringos they were imported to replace.
BTTT
I plan on dying at work. Why bother retiring?
YMMV
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