Guest Guest66881 Posted December 30, 2013 Share Posted December 30, 2013 WASHINGTON (AP) -- A global retirement crisis is bearing down on workers of all ages. Spawned years before the Great Recession and the financial meltdown in 2008, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching. Many people will be forced to work well past the traditional retirement age of 65 — to 70 or even longer. Living standards will fall, and poverty rates will rise for the elderly in wealthy countries that built safety nets for seniors after World War II. In developing countries, people's rising expectations will be frustrated if governments can't afford retirement systems to replace the tradition of children caring for aging parents. The problems are emerging as the generation born after World War II moves into retirement. "The first wave of under-prepared workers is going to try to go into retirement and will find they can't afford to do so," says Norman Dreger, a retirement specialist in Frankfurt, Germany, who works for Mercer, a global consulting firm. The crisis is a convergence of three factors: http://au.finance.yahoo.com/news/ap-impact-world-braces-retirement-054314023.html Link to comment Share on other sites More sharing options...
KIRK AND CO Posted December 30, 2013 Share Posted December 30, 2013 I knew a Norman once great guy worked till he was 77 fit as a fiddle 100 metres in 9.66 sec, a Joke ( company take over ) he was forced into retirerment dead 2 weeks later. Not everyone likes to stop working. It is great to be back Happy new year :hug: Link to comment Share on other sites More sharing options...
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