With people living longer we have some problems as those with pensions will be receiving monies much longer than anticipated. They will be using hospitals and need care longer and all of this will cost us more. Also at issue is Social Security as we have been listening to in the news lately. Yes, the once small $1300 pay from the Roosevelt Ear has now reached epic proportions and the ponzy scheme is a financial crisis waiting to happen. You can also expect many of the huge pension fund contributions of America’s largest corporations to renege on their pledges. Do not expect to find a new wave of retirees moving into the golf course condos, unless they have a large financial nest egg. Many retirees are worried. Ask any financial advisor, investment advisor or insurance sales person what the number one thing people ask for today? Long Term Health Care Insurance; costs have skyrocketed and folks are living longer and very worried. Want to live longer?
It just might be possible which in fact brings us to the topic of Greenspan alerting the citizens that if we do not relax the burden on Social Security then there will not be any when you retire. I’d like to recommend this book to everyone:
Well the records of yesterday will be broken as people live longer. Multiple careers, causing transfers of technologies into different fields and the increase in the forward progress of mankind. Excellent, can hardly wait for the future. Of course people will need to work longer retirement at age 60 really isn’t in the cards for a person living 137 years old, after all that is less than half. Times are changing. Yes, we are all going to live longer and we need to re-adjust things a little. Less lawsuits for malpractice, more responsibility form citizens, less government waste, better exercise and diets of our populations and less regulations for higher productivities so we do not se all the money we need to take care of our own flow to developing nations without flowing back or getting a return on investment for our future. Other wise a whole lot of really nice grandmas will be living in card board boxes due to our failure to fix our own problems here at home. Think about it.
“Lance Winslow” – If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs