The end of retirement

The Economist ^ | Jun 25 2009 | Unknown

[decimon]

WHEN Otto von Bismarck introduced the first pension for workers over 70 in 1889, the life expectancy of a Prussian was 45. In 1908, when Lloyd George bullied through a payment of five shillings a week for poor men who had reached 70, Britons, especially poor ones, were lucky to survive much past 50. By 1935, when America set up its Social Security system, the official pension age was 65—three years beyond the lifespan of the typical American. State-sponsored retirement was designed to be a brief sunset to life, for a few hardy souls.

[Ciexyz]

I got mine. Here's hoping you all get yours.

[FreeSouthernAmerican]

If Obama and the Obamazombies push taxes up too high, I just won’t work. I’ll take an early retirement. Already have a backup plan.

[dforest]

Retirement Obama style means death. You will definitely be retired.

[Ciexyz]

Interesting fact in the article: the USA has over 100,000 people aged 100 or more. In my area of Pittsburgh, we have a lady who is 109 years old, a Mrs. Agnes Wetzel, widow of a WW I veteran.

[KarlInOhio]

WHEN Otto von Bismarck introduced the first pension for workers over 70 in 1889, the life expectancy of a Prussian was 45. In 1908, when Lloyd George bullied through a payment of five shillings a week for poor men who had reached 70, Britons, especially poor ones, were lucky to survive much past 50. By 1935, when America set up its Social Security system, the official pension age was 65—three years beyond the lifespan of the typical American. State-sponsored retirement was designed to be a brief sunset to life, for a few hardy souls.

A large part of life expentancy is whether people survive childhood, which has little effect on retirement ages. A better age to compare is life expentancy of those who reach 18.

[US Navy Vet]

“State-sponsored retirement” systems ALWAYS banked on an early death. W/out that they go broke quickly.

[decimon]

Interesting fact in the article: the USA has over 100,000 people aged 100 or more.

Someone reaching that age used to seem near miraculous.

[WellyP]

I took mine early, before Obama could steal it!

[decimon]

A large part of life expentancy is whether people survive childhood, which has little effect on retirement ages. A better age to compare is life expentancy of those who reach 18.

That's a good point but I think life expectancy has also increased by your measure.

[blam]

I always thought I’d die young so...I retired at age 50, 16 years ago...been nice too.

[WellyP]

AND, in the morning I am going ot ski 2+ feet of new power snow.

[eclecticEel]

When some lab finally discovers the cure for aging then the entire concept of retirement will have to go.

[July4]

We cannot afford to retire. We are considerably past retirement age, but our small business, like most all the others, is under vicious assault by the Socialists/Marxists now running our government. The values of all our assets, business and personal, have greatly decreased. Thanks to Barney Frank and his allies, the stock market “went South” and took our investments on which we had depended for retirement funds.

Impeach Obama. Get rid of the libs before there's nothing left to work or fight for.

[Diana in Wisconsin]

Grandpa retired at 55, Dad at 53. I’m aiming for 55 (7 more years) and if I don’t get hit by a bus between now and then, I should be able to pull it off, 0bamaconomy or not. :)

Just have the farm mortgage to pay off, then if I have to work, it’ll be for chicken feed for property taxes and utilities, oh, and actually FOR ‘chicken feed,’ LOL!

[Mr. Blonde]

Where are you doing that at?

[anniegetyourgun]

The thought of retirement if foreign to me. Here’s to dying with my boots on.

[Brad from Tennessee]

[When some lab finally discovers the cure for aging. . .]

That could happen or technology could reach a point where the human race transforms itself from flesh and blood to electronics and plastic. In artificial form people could live indefinitely and survive in harsh environments.

[JoeProBono]

[oldbill]

Why worry?

With the coming Obama Health Care you won’t be living past 65, and if you do, your health benefits will be cut off by rationing.

Obama is inventing the modern day version of Soylent Green.