The Ever-Increasing Age Of Retirement

Tyler Durden's picture




 

Americans work harder longer than any European nation aside from Spain. France, on the other hand, does not - with a retirement age five years earlier than the US (and only bested by the island of Malta). Over the long-term, Italy appears to be the worst case at 69 years (but in Italy-work-years this is only 51 years since they vacation three months per year). As the Washington Post points out most of the European nations (including Germany) are set to see their retirement ages raised in "a dramatic rewrite of the continent’s postwar social compact" highlighting that "measures that keep people working longer could prove one of the most significant social legacies of the debt crisis." But even then they only catch up to the American worker. Of course, the sad reality is that as workers get older, that retirement age will extend further and further away.

 

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 07/11/2012 - 15:02 | 2607141 Clueless Economist
Clueless Economist's picture

Europe is burning, China slowing down, US is in the toilet, Joblessness is rampant, millions are under water on their largest asset AND YET

on Yahoo List of most popular searches shows:

1)      Molly Cyrus New Tattoo

2)      Kourtney Khardashian (Who???)

3)      Jessica Biel

4)      Daniel Tosh (Who?)

5)      Kate Upton (Who?)

This country is so screwed!!!

Wed, 07/11/2012 - 15:04 | 2607152 I think I need ...
I think I need to buy a gun's picture

amen,,,,,

Wed, 07/11/2012 - 15:31 | 2607314 dlmaniac
dlmaniac's picture

"Ever increasing age of retirement."

This is what happens when you let government manage the reirement system.

Wed, 07/11/2012 - 15:44 | 2607379 mjk0259
mjk0259's picture

Yeah, those corporate retirement plans are so much more reliable. Now where did mine go? They told me it would be there...

Wed, 07/11/2012 - 15:52 | 2607428 Dr. Richard Head
Dr. Richard Head's picture

Keep in mind that the corporate retirement plans and the government pension plans are generally invested in the same theft vehicles.  So all in all, the shit items are just warpped differently. 

Wed, 07/11/2012 - 15:53 | 2607438 dlmaniac
dlmaniac's picture

I manage my own retirement and put the money in gold and silver inverstment so that I have my hard-earned money safe-guarded for retirement.

See retirement is a private thing. Only you yourself know what you want, your career goal, your health condition, your family's fiscal status and so on. Letting someone else w/ less knowledge to manage it for you is taking a risk. I don't trust the government b/c they manage everything into insolvency. I don't trust big corps either b/c who can guarantee they can stay in the business forever. 

Wed, 07/11/2012 - 16:30 | 2607612 silverserfer
silverserfer's picture

too bad you can t get employer match 25% or whatever on phyz instead of 401K contrubutions huh?

Wed, 07/11/2012 - 18:00 | 2607953 rcintc
rcintc's picture

Google Kate Upton, You will not be disappointed.

 

or just click here....http://www.youtube.com/watch?v=34hWlRJHCqs

Wed, 07/11/2012 - 22:08 | 2608659 J in Vegas
J in Vegas's picture

OH snap!

Wed, 07/11/2012 - 15:54 | 2607448 Michael
Michael's picture

This "Ever increasing age of retirement." topic is a scam!

This new shtic meme is to brainwash/promote to really old people who are collecting government benefits and pensions, calling on them to continue going to work and take low wage jobs, because they don't need company health insurance they get the job over a younger person easier, and in order to keep wages low because illegal aliens aren't flooding the country anymore for lack of work, and due to e-verify.(run on sentence)

The bottom line is; They want to steal jobs from younger people who have families to feed, in order to keep profits up.

We should be promoting, asking older people to take retirement as soon as possible so younger people can have a shot at a job and earn money for their families.  

Wed, 07/11/2012 - 16:34 | 2607625 AGuy
AGuy's picture

"We should be promoting, asking older people to take retirement as soon as possible so younger people can have a shot at a job and earn money for their families.  "

We need the older workers to keep the lights on. Young people are too focused on Face book and other social media to get the job done. You think companies are retaining older workers who cost more (high wages, higher health insurance) because its good for there bottom line? Once the older workers are gone, companies will just outsource their jobs overseas (Asia), where the workers are more focused.

BTW: more than often the older folks bailout their childeren by paying for there education, co-signing car/home loans, and helping them financially. That's why they can't retire.

 

 

Wed, 07/11/2012 - 16:57 | 2607709 Michael
Michael's picture

We should have social security and medicare deferred/stripped or heavily taxed if someone works over age 67 earning over 200% more than their government benefits package. Old people can work doing all the volunteer free work they want without penalty.

Wed, 07/11/2012 - 20:03 | 2608313 AGuy
AGuy's picture

"We should have social security and medicare deferred/stripped or heavily taxed if someone works over age 67"

SS and Medicare are "Manditory Retirement Savings accounts". OK if they also take YOUR401K and other retirement savings?  What if the boomers didn't have to put money into SS and saved 15.4% of their income for retirement instead? Did they have a way to opt out?

The majority have no savings too fall back on (see early post about giving money to kids, and to a lesser degree, help there parents). They work because they don't have a choice. 50% of workers over 55 have under 50K saved. 50K will last 5 years or less (considering health insurance and living costs, not including a medical emergency or some major event). Once they leave the workforce its virtually impossible to get another job.

 

 

Wed, 07/11/2012 - 17:00 | 2607726 Totentänzerlied
Totentänzerlied's picture

BTW more than often, kids (read: middle aged) bail out their parents (read: elderly) too, like when that retirement 2nd home they bought (prices will never go down!) goes underwater!

The more you know!

Wed, 07/11/2012 - 15:06 | 2607165 Joe Davola
Joe Davola's picture

You might want to do a google image search on #5

Wed, 07/11/2012 - 15:10 | 2607184 Pladizow
Pladizow's picture

Kate Upton does Cat Daddy: http://www.youtube.com/watch?v=34hWlRJHCqs

Youre VERY welcome!

Wed, 07/11/2012 - 15:17 | 2607230 James_Cole
James_Cole's picture

After watching that I agree with Clueless Economist, Yahoo List of most popular searches proves the country is completely screwed, Kate Upton should clearly be #1. 

Wed, 07/11/2012 - 15:36 | 2607335 Id fight Gandhi
Id fight Gandhi's picture

Pretty. But the creepy guy made me turn it right off.

Still not worth losing retirement over.

Wed, 07/11/2012 - 18:08 | 2607997 Bunga Bunga
Bunga Bunga's picture

Judging by the amount of dress she can afford we are clearly in an economic depression.

Wed, 07/11/2012 - 15:18 | 2607192 SemperFord
SemperFord's picture

Or just go to WWTDD.com What WOULD Tyler Durden Do . com

 

http://www.wwtdd.com/2012/06/theres-finally-better-kate-upton-gq-pictures/ 

Wed, 07/11/2012 - 15:13 | 2607206 dark pools of soros
dark pools of soros's picture

video is in order.. image doesn't do justice

http://www.youtube.com/watch?v=frCMS7PPg2g&feature=watch_response

 

Wed, 07/11/2012 - 18:28 | 2608078 crosey
crosey's picture

Incredible, gravity-defying, shamelessly awesome, how do those puppies stay in the hammock?!

Wed, 07/11/2012 - 19:08 | 2608183 dark pools of soros
dark pools of soros's picture

pure talent....  I want her to serve milk shakes at my next pool party

Wed, 07/11/2012 - 15:19 | 2607244 Clayton Bigsby
Clayton Bigsby's picture

amen brother - I'll take 1 outta 5 if that 1 is kate upton

Wed, 07/11/2012 - 17:01 | 2607728 AmCockerSpaniel
AmCockerSpaniel's picture

Thanks; Now I really feel my age (old),

Wed, 07/11/2012 - 15:08 | 2607176 stopcpdotcom
stopcpdotcom's picture

What's a Khardashian?

Wed, 07/11/2012 - 15:11 | 2607195 Joe Davola
Joe Davola's picture

Fugly, but rich.  The mother's the best looking one of the lot, and Bruce Jenner looks like an old lesbian.

Wed, 07/11/2012 - 15:11 | 2607196 Pladizow
Pladizow's picture

Synonimous for whore!

Wed, 07/11/2012 - 17:18 | 2607788 DosZap
DosZap's picture

What's a Khardashian?

A very Expensive sweater...........

Wed, 07/11/2012 - 15:16 | 2607220 Robot Traders Mom
Robot Traders Mom's picture

Tosh is a hipster-doofus. I liked his show better when it was called The Soup.

Wed, 07/11/2012 - 15:31 | 2607313 johnQpublic
johnQpublic's picture

daniel tosh is funny

kate upton is hot

not sure what the claim to fame of the others is

Wed, 07/11/2012 - 15:41 | 2607345 Griffin
Griffin's picture

In the crisis in Oct 08 in i was looking for information on the BBC website and the main story was about some UFO's skipping around over London and how some US fighter pilot had fired at some aliens a while back.

If by chance the general public happens to be interested in economic matters or politics it seems to be rather easy to distract them with some silly stories, the more absurd the better.

Wed, 07/11/2012 - 16:09 | 2607525 Sequitur
Sequitur's picture

Fuck old people.

- John Corzine

Wed, 07/11/2012 - 16:26 | 2607593 I am a Man I am...
I am a Man I am Forty's picture

1) lame

2) lame

3) totally legit

4) he's funny

5) totally legit

 

Thu, 07/12/2012 - 08:38 | 2609478 noses
noses's picture

Who is using Yahoo search anyway? They stopped being important a decade ago.

Wed, 07/11/2012 - 15:02 | 2607146 ptoemmes
ptoemmes's picture

Two things:

1) To retire you probably need a (real) job to retire from.

2) Does this mean I won't be able to retire until after I am dead?  

Wed, 07/11/2012 - 15:05 | 2607155 mrdenis
mrdenis's picture

Hey what ever happen to Andy Griffth ,I thought he was #1 ......damn not even 15 min of fame anymore .....

Wed, 07/11/2012 - 15:08 | 2607174 Clueless Economist
Clueless Economist's picture

Andy also had more talent in his little finger than these "so-called celebrity" imbeciles have in their whole body.

Wed, 07/11/2012 - 19:13 | 2608194 Grinder74
Grinder74's picture

Are you sure you've properly inspected every inch of Kate Upton's body to be sure of her amount of talent?

Wed, 07/11/2012 - 17:14 | 2607775 DosZap
DosZap's picture

Americans work harder longer than any European nation aside from Spain

I think you should have left the harder in,1 person now is doing the work of a min of 2,usually 3.

And the hours have gone up,if your full time.

Less pay for more work, and decreased benefits, is now the norm,IF you want to keep your job.

Wed, 07/11/2012 - 15:05 | 2607156 Joe Davola
Joe Davola's picture

If women live longer, why do they retire earlier in those four countries?

Wed, 07/11/2012 - 15:08 | 2607173 Winston Churchill
Winston Churchill's picture

Some animals are more equal than others.

The hypocrisy of the ERA.

Wed, 07/11/2012 - 15:06 | 2607162 ZippyBananaPants
ZippyBananaPants's picture

ZeroHedge on Bloomberg, nice chart talking heads!

Wed, 07/11/2012 - 15:12 | 2607204 JustObserving
JustObserving's picture

Very poor analysis on Bloomberg of the chart.  Instead of concluding that it shows clear manipulation of the market (or at least support) by Fed policy, the idiot said it was data mining.

Half the guests on TV are idiots.

Wed, 07/11/2012 - 15:08 | 2607172 sangell
sangell's picture

Naw, you just had to think ahead. I went and got me a public sector job at 47 and retired at 58. Its just the private sector workers who won't get to retire. Now get back to work so you can pay my pension.

Wed, 07/11/2012 - 15:09 | 2607183 Clueless Economist
Clueless Economist's picture

lol if this insn't sarc, then you better hope you die soon...that public pension ain't gonna be there in 10 years.

Wed, 07/11/2012 - 15:14 | 2607214 sangell
sangell's picture

Its not that much but the important thing was the medical coverage. In two years I'll start getting my social security and in 5 medicare. If my municipal pension goes tits up well I drank from the well before it went dry. I told my co workers they should get while the getting was good but their 'pension' was all they had and they really believed they will get 60 or more percent of their final salary after 30 years.

Wed, 07/11/2012 - 17:07 | 2607748 Totentänzerlied
Totentänzerlied's picture

Shh! Don't talk about the public pensions! You'll frighten the sheep!

/Corzined!

Wed, 07/11/2012 - 15:11 | 2607189 Sandmann
Sandmann's picture

UK Public Sector "Rule of 34" means your age when starting work for THE STATE + 34 = Age of Retirement; so start at 18 and retire at 52 on Index-Linked Pension often Non-Contributory

The real gem is that Men die young so raising the age means men die in work on unemployed but lots of Widows live for 20 years plus as pensioners either on taxpayer funds or husband contributions

Wed, 07/11/2012 - 15:10 | 2607191 Beam Me Up Scotty
Beam Me Up Scotty's picture

You got that right.  Although, your pension could get "confiscated" too.  Someday, you won't be able to tell the difference between the workers and the dead.  Unless the dead fall on the floor....

Do NOT follow this link or you will be banned from the site!