A Boring Dystopia

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BlackRock CEO Larry Fink said America could dodge a ‘retirement crisis’ by encouraging people to work longer (news.yahoo.com)

submitted 2 days ago by FlashMobOfOne@lemmy.world to c/aboringdystopia@lemmy.world

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BlackRock CEO Larry Fink caused quite a stir when he suggested America could dodge its looming “retirement crisis” by encouraging people to continue working past age 65.

The billionaire, who chairs the world's largest asset management firm, kicked off his 2024 annual letter to shareholders by telling his readers it is “time to rethink retirement.”

He raised the point that more Americans are retiring and their retirements are increasing by length. This, he claims, is having a “massive impact on the country’s retirement system” — specifically the nation’s Social Security coffers, which are quickly running out of money.

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[–] commiunism@lemmy.dbzer0.com 6 points 2 days ago* (last edited 2 days ago) (2 children)

That's what most countries are doing rn, with Denmark or some other """"nordic socialist"""" country recently pushing retirement age to 70 and others talking about it or slowly pushing the age forward as well

[–] DarkAri@lemmy.blahaj.zone 8 points 1 day ago (1 children)

It's a giant scam to force people to pay into a retirement that they are going to die before they see. There is like a thousand other ways to fix retirement like, get rid of prescription drug laws and the excessive parents and copyright system.

[–] i_dont_want_to@lemmy.blahaj.zone 5 points 1 day ago

I know you meant "patents," but filial responsibility laws need to go, too. Adult children should not be expected to foot the bill for their aging parents' inflated medical bills.

[–] AA5B@lemmy.world 3 points 2 days ago

Does the us have the safety net programs in place to support that? The social welfare systems supporting a longer healthspan and lifespan?