The newest deal: Learn more, retire later

[tdavis]

I recently read a somewhat depressing article in The Economist about the “end” of retirement.

The article begins with a bit of history: When pensions began in Germany over a hundred years ago, they were for people who lived to 70 — twice as long as the average person. When Social Security was introduced in 1935, 65 was three years more than the American life expectancy. Essentially, retirement was created for those who lived an abnormally long life. (The Social Security Administration acknowledges that average life expectancy at birth back then was 58 for men and 62 for women, though it also points out that 54% of men and 61% of women who survived childhood made it to age 65.)



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