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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[–] AA5B@lemmy.world 23 points 2 days ago* (last edited 2 days ago) (1 children)

encouraging people to continue working past age 65.

We already made this adjustment to social security: retirement age is 67. This is just an excuse to pay less to people who are forced to retire for health or job reasons

Speaking as someone who probably can’t afford to retire, I expect my “retirement age” to be whenever ageism catches up so I can no longer get a job

[–] HubertManne@piefed.social 6 points 1 day ago (1 children)

I might already be there. Figured it would be till im physically unable to work but who knew jobs would just not be there. Man I was way to optimistic.

[–] shalafi@lemmy.world 2 points 1 day ago (1 children)

Might be there as well. Through my 40s I scored two solid sysadmin roles, now I can't score an interview.

[–] partial_accumen@lemmy.world 1 points 4 hours ago

I don't see many pure sysadmin roles listed anymore. Companies seem to want to squish two or more roles together so we have DevOps roles or SREs.