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???
Posted on 09/25/2012 5:10:12 PM PDT by Condor 63
In June, Robert Benmosche, the chairman of the insurance giant American International Group, said an increase in the retirement age was unavoidable. What surprised many is how high he predicted the age would go. "Retirement ages will have to move to 70, 80 years old," Benmosche told Bloomberg. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth."
(Excerpt) Read more at money.msn.com ...
If you look at the retirement age of 65 versus the life expectancy for whites in 1934 the average age was 56 years. It was much lower for blacks somewhere about 52 years at that time.
Convert increase in life expectancy to the retirement age and you arrive at the figure of 81 years for retirement.
That would keep the actuaries about right.
I don’t support this.
NO.
You should get full retirement benes.
Anyone under the age of 50 really can’t expect to receive it and should be planning.
Oh, and I’m 49.
It used to be about 2 years beyond average life expectancy. I can remember it being common for folks retiring at 65 to pass on at 67, 68.
Once Obamacare or national Romneycare is in force, I expect life expectancy to creep downward, so setting retirement at 70 might save tons of money.
Some careers are grueling and demanding and require a younger persons stamina. Retirement makes sense for those kinds of careers.
It will have a pit stop at 70, before settling on 75.
That should cover our lifetimes.
Words of wisdom.
[[ “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?
Clearly some peoples careers were not so demanding as to allow a 79 year old to do it. How many 79 year old dry wall installers do you see?
It depends on what your definition of “productive” is. I didn’t plan on leaving but the Baraqqi Depression flushed me out.
When you lose a middle management type job, at age 62 you’re not going to get back into the workforce at $100k+ very easily.
So now I receive two checks every month signed by Baraq Obama and enjoy my grandkids, LOL.
You have a point. But I will say this, I know an 80 year old rancher who refuses to quit although his sons have taken over the operation.
He just loves what he does.
I totally agree with you. I am a cube rat now but I did my share of grunt work when i was in college and i built most of my custom house and worked full time. People project there life style on everyone else....
Pretending to work is not working....
How would you like, say, being a hod carrier or bricklayer in his late 60s?
Whatever you think.
Here in the midwest, that work appears to be 95% done by 30 yr old guys from south of the border. At least the very few construction jobs I've seen since Baraq took office.
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
Brilliant.
For us, it's to enjoy taking care of our grandchildren. I have no regrets about retiring early, after getting laid off. My wife retired early, due to illness from cancer for which she is undergoing treatments. We also took in my wife's elderly mother into our home to care for her, a full-time job. We are not at the end of our productivity, we just shifted gears. Our jobs were not our lives. Our families are.
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