hey you young'uns.. Economic expert says you may need to "delay" retirement until age 75

[SoCalDem]

he's a guest of our old pal Rick Sanchez CNN
didn;t catch his name.. but he's upbeat and says to stay the course..


That's what George W did to our economy..10 TRILLION dollar's worth.. but he says.. "not to worry"..

y'all okay with that?

[Warpy]

1. That's great if you work at a DESK

I want to hear what that asshole has to say after a day of hard physical labor.

[SoCalDem]

2. and how many corporations want 75 year olds on their payroll?

They start "weeding the garden" as workers hit 40.. what does one do for the next 35 years??

[Wcross]

5. Yep, try standing on concrete for 12 hours a day.

All that guy does is run his mouth. Is that the work to which he was refering?

[MercutioATC]

3. Start looking for jobs that offer earlier retirement...

Federal law enforcement, federal firefighters and air traffic controllers come to mind.

25 years of service at any age or 20 years at age 50.

I have 8 years left.

[Thothmes]

13. Army, Navy, Marine Corp, Air Force, Coast Guard

20 years

[selador]

4. i rely

on myself to prepare for my retirement, certainly not the govt. or my pension (which is just part of it).

my grandfather, who lived through the depression implored this upon me - open up investment funds when i was 18 and invest like clockwork (no matter how small).

compound interest being the 8th wonder of the world, and there has never been a 20 yr period in history where dollar cost averaging into stocks was not a good investment.

i'm certainly not going to rely on ANY administration, any congress, or anybody else but myself and the my participation in the engine of capitalism to create a nest egg for my family.

[nadinbrzezinski]

10. And I fear you will see that nest egg go to hell in a hand basket

if we are hit by hyper inflation

You don't live outside the economy unless that nest egg is over five mill and includes plenty of non US assets right now

[selador]

12. while

i think hyperinflation is mostly a baseless worry, stagflation otoh...

fwiw, i have invested in a gold fund since 1998 (MIDSX) which has done quite nicely, and also believe in hedging with currencies and commodities (although i think commodities are shortterm overbought)

people have been calling gl00m and d00m on capitalism in general, and the US in particular for well over a century
es
and we keep pluggin along.

i make income via trading, but i build wealth via investing

when and if capitalism stops working... let me know

[nadinbrzezinski]

15. I hate to point this out

but we are NOT a capitalist country...

Adam smith probably is doing flips in his grave.

Good for you that you make your money

But Hyperinflation is not that much of a dream... and capitalism ended a while ago. It was replaced by Corporatism...

By the way, Adam Smith warned against monopolies and corporatism, so did Ricardo

[Lars39]

14. Come back and talk tous after you or a family member gets cancer

or a chronic disease. Your investments will also be wiped out if you or your spouse wind up in a nursing home because of a stroke.

[Liberal_in_LA]

6. It's no longer a surprise to see 60+ workers baggging groceries or picking up the carts

[City of Mills]

7. LOL

As a 33 year old, I don't anticipate being able to EVER retire, and if by some miracle am able to do so financially, it won't be anywhere near 65. I've felt this way for at least the past 5 years or so. Realistically, having worked 10 years in the company i'm at, I expect to *have* to work another 50 years at this point.

Not being sarcastic or cynical, just realistic. With any luck, I'll only have to work one full-time job.

[KG]

8. i'm totally fucked.

i'll have to work till the day i die.

[Rosemary2205]

9. Why is anyone "entitled" to retirement?

Historically, haven't MOST humans toiled to survive until they died or were left behind?

Retirement is for rich people. We managed to pry retirement out of the elite for a generation or two but even for me in my 50's, the elite have managed to scuttle any hope whatsoever of anything resembling "golden years".

[Xenotime]

11. You aren't according to the super rich. Only they are.