Europe Retirement Age to 80 After Crisis

[KissMy]

What happened to all those democrats who always said we need to be more like Europe??? Looks like democrats have been failing for the governments lies.

AIG Chief Sees Retirement Age as High as 80 After Crisis

American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche said Europe’s debt crisis shows governments worldwide must accept that people will have to work more years as life expectancies increase.

“Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said during a weekend interview at his seaside villa in Dubrovnik, Croatia. “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth.”

“People in Greece have to see there is no easy way out of this” and the government must get them to work longer, he said in the June 2 interview on the Adriatic coast. “If not, and if they go to their own currency, I think they will see huge inflation and it will be devastating for people on fixed incomes.”

 

[iamwhatiseem]

That is pure insanity.
If the retirement age would get anywhere near 80 years old - then that society is truly a servitude-based society.
People are living longer, however that doesn't in anyway mean that they are healthy enough for full employment. At that point - all that would happen is instead of the government paying retirement, businesses will be. Afterall many, many jobs an 80 year old couldn't begin to do.

 

[KissMy]

Unraveling the "Welfare Safety Net". Europe Moves Closer to Banktatorship

 

[tjvh]

That is pure insanity.
If the retirement age would get anywhere near 80 years old - then that society is truly a servitude-based society.
People are living longer, however that doesn't in anyway mean that they are healthy enough for full employment. At that point - all that would happen is instead of the government paying retirement, businesses will be. Afterall many, many jobs an 80 year old couldn't begin to do.

Yup, might as well accept the fact that you're nothing more than an indentured servant if Retirement age goes that high. Many people I know never lived past 65. What are people going to do at that age, become a Wal-mart greeter and worry about being punched in the face?

 

[Truthmatters]

American International Group - Wikipedia, the free encyclopedia

that guy is an insurance CEO you fool

 

[Skull Pilot]

Maybe people should save for their own retirement instead of having the fucking government take care of them.

I've shown you people over and over again that if you would save the 15% of your lifetime income that the government confiscates from you to fund the Social Security slush fund scam that you'd all be better off, retire with substantially more money and not have to let the fucking government tell you when you can stop working.

 

[Truthmatters]

Because that doesnt work in the real world you smuck.

take a look at the constant attack on the little guys wealth collection

 

[Truthmatters]

Stock markets crash.

Housing gets played by the wealthy.

What the fuck have you been reading in the papers the last few year?

 

[Truthmatters]

This is why income ineqaulity matters you fucking idiot

 

[itfitzme]

"What happened to all those democrats who always said we need to be more like Europe??"

My guess is that there weren't any, that you've created this fantasy. It is based on two cognitive efforts, one, creating this image of a cohesive and coherent group that all share the same characteristics, the second being that of making an over generalization out of some person writing a favorable opinion about some specific European program.

"Looks like democrats have been failing for the governments lies."

What lies are you talking about? I would expect that the lies are to follow in you post. So is it AIG's statements that is a lie? Social Securities retirement age? Greece? Europe? What?

 

[itfitzme]

"Maybe people should save for their own retirement instead of having the fucking government take care of them.

I've shown you people over and over again that if you would save the 15% of your lifetime income that the government confiscates from you to fund the Social Security slush fund scam that you'd all be better off, retire with substantially more money and not have to let the fucking government tell you when you can stop working."

Eliminating taxes wouldn't increase your income.

I don't consider it confiscated, as don't most people. That is your personal issue.

If everyone saved 5% of their lifetime income, then everyone would have 5% more, on top of their SSI. Unfortunately, that isn't how it works.

Group behavior simply doesn't work that way.

If everyone followed the traffic laws, we wouldn't need to pay for state troopers or city traffic cops. If everyone honored their contracts, we wouldn't need court system. If everyone saved 15% for retirement, we wouldn't need a SSI program.

It would be nice if everyone followed the rules, did the right thing. It would be nice if people didn't cheat.

But people compete for jobs and in the competition, someone will do it for 15% less than the other guy.

And companies compete for the bigger portion of the consumer's pocket book. Gas prices are as high as they can be. Food prices are as high as they can be. Rent is as high as it can be. In the end, there isn't 15% left. If there was, we would have never invented Social Security in the first place. Everyone would have been saving 15% already.

This is the difference between recognizing what should be and what really is.

"Maybe people should save for their own retirement." Shoulda, coulda, woulda....

 

[Skull Pilot]

Because that doesnt work in the real world you smuck.

take a look at the constant attack on the little guys wealth collection

That's because fucking sheep like you are too fucking lazy to manage your own money.

 

[KissMy]

These government programs were just a slush fund for politicians. We will never be allowed to benefit from them before we die. It is just another sucker tax on the poor & middle class.

 

[Rozman]

Maybe people should save for their own retirement instead of having the fucking government take care of them.

I've shown you people over and over again that if you would save the 15% of your lifetime income that the government confiscates from you to fund the Social Security slush fund scam that you'd all be better off, retire with substantially more money and not have to let the fucking government tell you when you can stop working.

I can't shake this feeling that at some point our government
will take away,nationalize our IRA accounts,our 401K plans.
They will then dole out what they feel will be enough to help us out
in our golden years...

If they make any sort of move in this direction I hope Americans
respond swiftly to stop this ASAP.

 

[Skull Pilot]

"Maybe people should save for their own retirement instead of having the fucking government take care of them.

I've shown you people over and over again that if you would save the 15% of your lifetime income that the government confiscates from you to fund the Social Security slush fund scam that you'd all be better off, retire with substantially more money and not have to let the fucking government tell you when you can stop working."

Eliminating taxes wouldn't increase your income.

No it only increases your net income. And I don't remember saying anything about increasing income.

I don't consider it confiscated, as don't most people. That is your personal issue.

Then you are a dupe. The government takes your money only to dole it out to you in the future. I call that confiscation.

If everyone saved 5% of their lifetime income, then everyone would have 5% more, on top of their SSI. Unfortunately, that isn't how it works.

I never said that's how it works. I said if one saved the employer and employee contribution to the SS slush fund, they would retire with substantially more money and then be able to spend that money as they see fit not when the government tells them they can.

Group behavior simply doesn't work that way.

If everyone followed the traffic laws, we wouldn't need to pay for state troopers or city traffic cops. If everyone honored their contracts, we wouldn't need court system. If everyone saved 15% for retirement, we wouldn't need a SSI program.

I am not responsible for the rest of you sheep. I am responsible for me and my family nothing more. And if people won't save then make it mandatory. The only difference is that each individual will actually own his own retirement savings account and the government won't have to be involved beyond upholding the savings mandate.

It would be nice if everyone followed the rules, did the right thing. It would be nice if people didn't cheat.

But people compete for jobs and in the competition, someone will do it for 15% less than the other guy.

So what? That has nothing to do with saving for retirement. If you choose to work for less money then your mandatory 15% savings will be less just like it is now.

And companies compete for the bigger portion of the consumer's pocket book. Gas prices are as high as they can be. Food prices are as high as they can be. Rent is as high as it can be. In the end, there isn't 15% left. If there was, we would have never invented Social Security in the first place. Everyone would have been saving 15% already.

You don't get it do you? You're already losing 15% off the top. Ending SS and saving that same 15% (employee and employer contributions) will still come off the top. Your bottom line won't change so your current financial situation will not change. What will change is that you will have substantially more money when you retire and you not the government will decide when you retire.

This is the difference between recognizing what should be and what really is.

"Maybe people should save for their own retirement." Shoulda, coulda, woulda....

And if they don't it's not my problem. Sooner or later people's feet have to be held to the fire.

I am not responsible for them.

 

[Skull Pilot]

Maybe people should save for their own retirement instead of having the fucking government take care of them.

I've shown you people over and over again that if you would save the 15% of your lifetime income that the government confiscates from you to fund the Social Security slush fund scam that you'd all be better off, retire with substantially more money and not have to let the fucking government tell you when you can stop working.

I can't shake this feeling that at some point our government
will take away,nationalize our IRA accounts,our 401K plans.
They will then dole out what they feel will be enough to help us out
in our golden years...

It's only a matter of time. As it is now the government still tells you how you can access your own money in a qualified retirement plan. They tell you how much you can save, when you can access it and they also tell you how much you have to withdraw every year.

I used to tell people to only save enough in a qualified plan so as to maximize any company match. Save the rest after taxes then at least you have more control and instead of paying regular income tax rates on both the principle and the gain you would only be paying capital gains taxes on the growth when you withdraw the money and since there would be no required minimum withdrawal you could keep more money in the account after retirement and earn more interest in retirement thereby extending your savings

 

[Skull Pilot]

We should make SS optional.

That way if you're too stupid or too lazy to handle your own money then the government can do it for you.

The rest of us can all keep our money and retire earlier and richer than those who want the government to take care of them.

That's what I call a win win scenario.