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AP IMPACT: The world braces for retirement crisis
AP via Yahoo News ^ | 12/29/2013 | PAUL WISEMAN, DAVID MCHUGH and ELAINE KURTENBACH

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 ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs; News/Current Events
KEYWORDS: crisis; pension; retirement

1 posted on 12/29/2013 7:00:27 PM PST by SeekAndFind
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To: SeekAndFind

There is a safety net, it’s called “saving money” in your 20s and 30s.


2 posted on 12/29/2013 7:01:26 PM PST by dfwgator
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To: dfwgator
People's savings can be wiped out when they get older.

/johnny

3 posted on 12/29/2013 7:05:00 PM PST by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

Another reason why nuclear families are crucial as a support system....But the government has done everything they could to destroy traditional families.


4 posted on 12/29/2013 7:06:03 PM PST by dfwgator
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To: SeekAndFind

What? Malthus was wrong? The hell you say! (Rolling eyes)


5 posted on 12/29/2013 7:07:42 PM PST by goodwithagun (My gun has killed fewer people than Ted Kennedy's car.)
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To: SeekAndFind

Who will take care of the retiring Mexicans with their kids coming here?


6 posted on 12/29/2013 7:19:24 PM PST by sickoflibs (Obama : 'If you like your Doctor you can keep him, PERIOD! Don't believe the GOPs warnings')
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To: SeekAndFind
The new American Dream is to work until you die. Thanks to Democrats and Obamacare, that will happen much earlier than it used to.
7 posted on 12/29/2013 7:30:34 PM PST by DakotaGator (Weep for the lost Republic! And keep your powder dry!!)
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To: SeekAndFind

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.


8 posted on 12/29/2013 7:35:22 PM PST by Ciexyz
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To: SeekAndFind

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.


9 posted on 12/29/2013 7:45:23 PM PST by Poundstone (A recent Federal retiree and proud of it!)
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To: SeekAndFind

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.


10 posted on 12/29/2013 8:26:16 PM PST by ckilmer
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To: SeekAndFind
Many people will be forced to work well past the traditional retirement age of 65 � to 70 or even longer

Glad I retired when I did, 1999, age 54.

11 posted on 12/29/2013 8:40:38 PM PST by Graybeard58 (_.. ._. .. _. _._ __ ___ ._. . ___ ..._ ._ ._.. _ .. _. .)
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To: SeekAndFind

To 70 or longer? Hey, my Mom’s going to be 76 in February and she’s still full time.


12 posted on 12/30/2013 12:03:52 AM PST by Amberdawn
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To: sickoflibs

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.


13 posted on 12/30/2013 8:08:01 AM PST by tbw2
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To: JRandomFreeper
People's savings can be wiped out when they get older.

BTTT

14 posted on 12/30/2013 12:26:23 PM PST by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: SeekAndFind

I plan on dying at work. Why bother retiring?

YMMV


15 posted on 12/30/2013 12:27:50 PM PST by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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