Posted on 06/12/2014 8:40:43 AM PDT by PoloSec
Retirement systems around the world are expected to face a significant burden in the next 50 years.
The number of people over the age of 60 is expected to double from 841 million in 2013, to over 2 billion by 2050, according to the UN. What's more this has been accompanied by falling global birth rates.
In fact, the global share of people over the age of 60 has gone from 9.2% in 1990, to 11.7% in 2013 and is expected to hit 21.1% in 2050, according to Bank of America's Sarbjit Nahal and Beijia Ma. The number of people over the age of 60 (older persons) is set to exceed the number of children for the first time, by 2047.
"Longevity risk is hugely underestimated," the write. "Longevity risk will be one of the most significant challenges facing retirement systems over the next 50Y, with global annuity and pension-related exposure estimated to be as high as US$15-25tn."
Nahal and Ma do however see a silver lining to longevity, namely, that the spending power of those over 60 is expected to hit $15 trillion by 2020. In the U.S. and Japan, the longevity sector is expected to account for over 50% of GDP by 2030.
(Excerpt) Read more at businessinsider.com ...
It’s a shame that the liberals aborted 60 million taxpayers the last 30 years, isn’t it?
Now, who’s going to pay the Social Security and Medicare and health care for these not-working anymore individuals? They are living, they are humans with souls (well, some still have souls), but ...Who is going to be working to support them on farms, factories, and stores? The Chinese and Mexicans?
While I in no way support abortion, I lack confidence that group would have more providers than than takers.
This is impossible because all I hear about is the Youth Vote.
“Now, who’s going to pay the Social Security and Medicare and health care for these not-working anymore individuals? “
This is just one of the reasons why many in DC want amnesty.
Our public pension systems will not sustain this. We have very big challenges ahead: http://www.econtalk.org/archives/2014/01/laurence_kotlik.html
You may be right. Lot of abortions took place in A-A communities. High percentage of those would end up on welfare rolls. But that can be changed with new laws which gives one incentive to work instead of collecting food stamps, unemployment, ADC welfare, rent subsidies, Medicaid, heat subsidies, free transportation to medical facilities, free language interpreters in medical facilities, Obama phones, free contraceptives, on and on and on.
If you’re young and just starting out, go to where the population is going to be at least stable if not growing. Economic conditions and related dislocation is not pretty in areas of declining population. Owning property in areas of multi-decade decline is a boat anchor. Don’t do it. If you buy, buy where there’s a market for resale.
Not to worry, the very fecundity of the immigrants, legal and “undocumented”, will take care of the deficit in the numbers of natural-born citizens lost from the last couple of generations.
Of course, because the greater number of these immigrants are going to end up taking out more from the system than they put back in, the pie will, of course, grow smaller.
Nobody is baking more pies. But they are sure putting something in the oven.
Who’s going to pay for all those illegals?
Hate to say it, but...I got mine!
Now, if only the supports hold up....
I think the same way but I am probably wrong to do so. In my early fifties, I will likely live to see some things occur in American I would not have thought possible when I was in my twenties.
I don’t worry so much for myself as for my child and granddaughter. What kind of world will it be?
Make sure you have assets to pass along and if you’re in the range where taxes may apply do your best to have assets vanish from the estate. I have a friend who has over a half million in silver in his basement. The Commonwealth of Massachusetts and the feds will never find out who that goes to.
The unstated mission (and benefit) of the Death Panels is to help fix the Medicare and Soc Sec funding problem.
Every year sliced off the life span is a huge plus.
I am beginning to think those folks with a few acres to grow food on have the right idea.
Maybe the Beatles' song needs to be updated: "Will you still need me, will you still feed me, when I'm 94?"
Predicting what the populaction will be like in 35 years, is like predicting what days will be rainy in 2050.
There are a whole lot of factors, some of which we don’t have the slightest inkling what they will be.
I remember the liberals yelling at pro lifers,who is going to take care of all these unwanted babies you all want us to save,who is going to pay to take care of them?
I don’t hear any of these A-holes now about all the Mexican kids coming across our border by the tens of thousands,do you?
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