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Author:

LongTerm CapGains

Subject:

Off Topic

Date:

06/22/15 at 9:06 AM CDT

 

 

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What a Strategy!

Kicking the can down the road!

In the past 20 years it has always worked!  Pure genius!  The heck with tomorrow's generations, we won't even be here so who cares!

I just learned today that in Greece the retirement age was 53 years only a few years ago (is it still?).  Yet, even with the country totally insolvent they are adamant about preserving the status quo.  And this is the freaking elephant in the room!!!  Given the fact that life expectancies have gone up in the order of 15 years, no deal that excludes this will ever right that country.

In this country we know our Social Security system will become insolvent in the future unless we push retirement age closer to 65 (probably beyond given that in practice, the majority of people are retiring at 65).  But we too keep kicking the can down the road, why?  Becase it works!! Until it doesn't!  Right?

 

Looks like Greece's retirement age today is 58, while Germany's is at 67 and possibly going to 69.  The Germans are keeping their house in order.

forbes.com/si...ge-58/

 


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Author:

LongTerm CapGains

Subject:

Off Topic

Sentiment:

Neutral

Date:

06/22/15 at 9:17 AM CDT

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