Black Label beats retirement planning

[bemildred]

If there is no meaningful way to boost one’s quality of life through strong investment returns through retirement, it makes more sense to reconsider the benefits of longevity in the first place

“There’s no time for us, there’s no place for us …. What is this thing that builds our dreams, yet slips away from us … Who wants to live forever, who wants to live forever….” — from the song ‘Who wants to live forever’ by Queen

When Count Bismarck initiated pensions more than a century ago, the idea was to provide for people who had miraculously survived to the ripe old age of 60, given that weighted average life expectancy at the time was a stirring 62 years. In other words, you work for 40 years or more of your adult life, and get about two years’ worth of life support at reduced wages. Not quite the party one hopes for these days, in other words.

Current pensions in Western Europe of course tip significantly to the other end of the spectrum. Even as life expectancy has improved dramatically to well over 80 years, retirement age has declined in many European countries, averaging less than 60 years in most cases. For some stressful jobs, like being a hairdresser in Greece, retirement age is even lower at 50 years.

http://atimes.com/2016/05/black-label-beats-retirement-planning/

[Warren Stupidity]

1. First inaccuracy- life expectancy at age 60

Last edited Sun May 8, 2016, 03:17 PM - Edit history (1)

is and was not the same as life expectancy at age zero.

Second, the scoffing at Greece and its once generous social programs with the right wing canard about hairdressers is appalling.

[bemildred]

3. Whiney rich people have always annoyed me.

Never any gratitude for all they have, just whine, whine, whine.

[fasttense]

6. Thank God you said it.

I read that article appalled that anyone would object to old peple Not working, starving or dying from hyperthermia. The majority of people do Not have any money to invest let alone invest for retirement. Is the writer implying we should all try for an early grave?

The example of Greece, aside from being untrue, has certainly gone away since the capatalists have insisted on payback by the middle class and poor. Most of the goverment pensions have gone away as has the Greek standard of living.

[6chars]

2. I want my 10% return!

Give it to me, now.

[malthaussen]

4. Pensions were around long before Bismarck...

... although he may have instituted the old age pension.

-- Mal

[bemildred]

5. His argument leaks like a sieve.

A blend of Fordist politics and rich people whining because their money might not support them in perpetuity.

I am all for people not having to work, but I think we need to spread that around to anybody that doesn't want to work.