A seemingly off-hand remark made by Robert Benmosche the CEO of AIG has become a bit of a viral online debate, as people of all ages and walks of life weigh in on the idea of bumping up the retirement age to 80. While Benmosche's comments to Bloomberg suggest the age increase is needed to maintain the level of benefits we have been promised and are accustomed to, not everyone is on board with the idea.They're serious about it.. the very, very wealthy that is. They know they can retire at any time, and understanding that you can't be rich without most everyone else being poor.. they'll do whatever it takes to gut Social Security and Medicare.
Most people just blow off these sorts of comments, but he's not kidding. I'm quite sure that's how it's going to go. The question for me is, will they raise the retirement age for those who are already locked in to a particular age. For those born before 1960, the age is 65. For those born 1960 and after, it's 67. Those two years are not a big deal to me as I expect I'll be able to keep doing what I'm doing for an extra 2 years without much bother, just to get the full retirement benefit.. or maybe there will actually be enough money accrued where I won't care.
The great part about this, of course, is that most companies are not going to want you after you hit 50, and you've still got 30 more years of work ahead of you. Cat food in the park anyone?
1 comment:
Maybe we should start a cat food manufacturing company called People's Choice. The top selling flavors would be pizza and BBQ chicken.
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