Blackrock CEO says 65 is too young to retire…

[BHC]

What POS statement by this POS

[joeyguts]

1 hour ago, hammer4reel said:

Worked for 48 years .

def had my fill of being over worked and over taxed .

Just as you hoping to see half as many sunrises as I saw driving to work .

.

Enjoy not being overworked, but I don’t think you’ll escape being over taxed.

[Greybeard]

They're an investment firm, so of course they want to keep your money longer before you take it out.

[flukebelly]

June 15th….Done !!!!

im retiring with 33 years in and exactly 55 years old .

if i stay in education any longer i will lose my pension for throat punching one of the libertard snowflakes I’m surrounded by.

[JHbowhunter]

1 hour ago, jerseyboy32 said:

He isn’t the only one saying retirement should be in the 70s   No one should collect ss for 15 years they are claiming 

i think everyone should draw SS the second they retire - and not a second more....  They want you to defer.... 

[electricstart]

He never worked in Contruction. My back, knees shoulders were shot at 55 the next 10 years were rough. Now at 68 arthritis in my hands mostly but rest of body is terrible. I would like to say white collar guys could go longer but they get the stress factor which can also be tough too. The government would like us all to die before retirement age.

[archer36]

9 minutes ago, electricstart said:

He never worked in Contruction. My back, knees shoulders were shot at 55 the next 10 years were rough. Now at 68 arthritis in my hands mostly but rest of body is terrible. I would like to say white collar guys could go longer but they get the stress factor which can also be tough too. The government would like us all to die before retirement age.

True, white collar has their issues too. But once they retire, the stress goes away. Physical ailments usually get worse. 

[Greybeard]

33 minutes ago, electricstart said:

He never worked in Contruction. My back, knees shoulders were shot at 55 the next 10 years were rough. Now at 68 arthritis in my hands mostly but rest of body is terrible. I would like to say white collar guys could go longer but they get the stress factor which can also be tough too. The government would like us all to die before retirement age.

I was stressed before getting to work just from fighting the traffic.  I hate getting on the highways anymore.  

[Merkel]

46 minutes ago, JHbowhunter said:

i think everyone should draw SS the second they retire - and not a second more....  They want you to defer.... 

I completely agree with you but for some people there are other factors at play;  like taxes on SS if you have other income. Also each year you delay SS earns 8%.  Not saying you should delay. Just saying for some it may make sense. 

[archer36]

2 minutes ago, Merkel said:

I completely agree with you but for some people there are other factors at play;  like taxes on SS if you have other income. Also each year you delay SS earns 8%.  Not saying you should delay. Just saying for some it may make sense. 

Sure. Everyone's situation is different. I hate when you see advice from people on the internet without knowing all the specifics of your situation. 

[vdep217]

Dad and grand father told me to plan for my retirement as if ss will not be there.   If it is at this point will be beer money and I'm looking at 52 to 54 being retired 

Edited March 27 by vdep217

[Msgdan]

I have the countdown on my desk in my office....I am done in 33 DAYS !!!   I will be 65 in November have 71 full pension credits from 3 different jobs....all hard on my body.   20 years as a full time firefighter (retired in 1999) and was given 5 extra years pension credit to leave after 20 years....20 years in the Teamsters union driving a straight truck and delivering furniture in the NYC area and just finishing up 31 years in the stagehands union in NYC.....   I am so done it's not funny !!  It's time to be grandfather, husband, son, friend and enjoying everything !

[Haskell_Hunter]

Ya'll completely missed the point.

He was talking to governments, not workers.

The current state of global retirement systems and entitlements is unsustainable.  In our lifetimes the cost of social security and medicare will exceed the US GDP.  The existing retirement system is unsustainable.

What makes this even worse?  The birth rate in the US is 1.6 right now.  You need a birth rate of 2.1 for a stable population.  What this means is that the population of the US is declining and is dependent on immigration for population growth.  If you do not have a growing population, you cannot fund retirement entitlements.

Don't think the government can "print money" its way out of this.  The global market for US debt is getting weaker every time we issue new bonds.  If there is no one there to buy our bonds, we can't print our way out of this.  It also puts pressure on bond interest rates.  Very soon, and I think it's already started to some degree, the markets will no longer buy US debt without a higher interest payment because the US is very much at risk of defaulting.

We have some very, very serious economic problems that none of our politicians will address.  We, as US citizens, should fully expect an economic crisis that will be novel and devastating.

That is what Larry Fink was trying to describe.  If we can defer the cost of these entitlements, we may be able to delay the forthcoming economic crisis and try to solve it.  But there's a 0% chance that's going to happen when the US is distracted by who can or cannot be called a woman.

Oh, and for the record, I don't ever plan on retiring.  I am having way too much fun working and earning coin.  Yes, I am a knowledge worker with soft hands.

[vdep217]

2 minutes ago, Haskell_Hunter said:

Ya'll completely missed the point.

He was talking to governments, not workers.

The current state of global retirement systems and entitlements is unsustainable.  In our lifetimes the cost of social security and medicare will exceed the US GDP.  The existing retirement system is unsustainable.

What makes this even worse?  The birth rate in the US is 1.6 right now.  You need a birth rate of 2.1 for a stable population.  What this means is that the population of the US is declining and is dependent on immigration for population growth.  If you do not have a growing population, you cannot fund retirement entitlements.

Don't think the government can "print money" its way out of this.  The global market for US debt is getting weaker every time we issue new bonds.  If there is no one there to buy our bonds, we can't print our way out of this.  It also puts pressure on bond interest rates.  Very soon, and I think it's already started to some degree, the markets will no longer buy US debt without a higher interest payment because the US is very much at risk of defaulting.

We have some very, very serious economic problems that none of our politicians will address.  We, as US citizens, should fully expect an economic crisis that will be novel and devastating.

That is what Larry Fink was trying to describe.  If we can defer the cost of these entitlements, we may be able to delay the forthcoming economic crisis and try to solve it.  But there's a 0% chance that's going to happen when the US is distracted by who can or cannot be called a woman.

Oh, and for the record, I don't ever plan on retiring.  I am having way too much fun working and earning coin.  Yes, I am a knowledge worker with soft hands.

The protical sun returns

Edited March 27 by vdep217

[Batsto]

2 hours ago, flukebelly said:

June 15th….Done !!!!

im retiring with 33 years in and exactly 55 years old .

if i stay in education any longer i will lose my pension for throat punching one of the libertard snowflakes I’m surrounded by.

It’s not easy! Remember it’s not you, it’s them.