A world without retirement?

Post by lacampbell » Mon, Apr 03, 2017, 4:13 AM UTC

Gatsky wrote: post #62

When visiting the US, I was struck by how many elderly workers there were in restaurants, subways etc. Japan was similar. In Australia, I never see this. The reasons are presumably: 1. Australia has ok free healthcare 2. The baby boomers have generated massive wealth over the last 50 years because of the property market. Point 2 certainly won't be repeated for the next generation.

Post by kcorbitt » Mon, Apr 03, 2017, 4:34 AM UTC

donw wrote: post #105

contingencies wrote: post #73

For those who perceive such issues as likely in their future, for whatever reason, I would recommend an alternate strategy of becoming familiar with the social, cultural and legal ramifications of living in or retiring to a developing country. This can be a very effective means to mitigate costs and is widely used by the French (eg. large numbers move to Tunisia for months of the year), and in South and Southeast Asi…

What happens to those people if the dollar plummets in value compared to native currency?

Post by scarmig » Mon, Apr 03, 2017, 4:38 AM UTC

lacampbell wrote: post #109

I'm projected to be able to retire in about 40 years, according to the NZ government, but I'm well aware of the fact that pension will never come. Still I'm forced to support baby boomers retiring in their 60s - people who were able to attend university for free and afford houses even on low-skilled jobs. We should end the madness now.

Post by chaostheory » Mon, Apr 03, 2017, 4:56 AM UTC

lacampbell wrote: post #108

michaelchisari wrote: post #97

Earlier quoted context omitted.

That seems extraordinarily unfair to the developing countries, especially if it becomes something that people do en masse.

Developing countries generally have very strict immigration requirements. It's not like Western Europe where you can literally walk in with no papers and get welfare. Trust me, they're not going to end up paying for anything old retired westerners need.

Post by thatfrenchguy » Mon, Apr 03, 2017, 5:02 AM UTC

ThrowawayR2 wrote: post #40

groestl wrote: post #9

Where do the jobs for the elderly come from, if even young, healthy people are gradually priced out of their jobs by technology and automation? Right now, good jobs are replaced by bad, underpaid ones. Desperate people are serving burritos to a smaller group of people who are lucky to have the skills necessary in this time of transition. All of them work to aggregate productive capital in the hands of the very few. I…

> I think whoever projects 40 years into the future, and sees no need to mention the words "UBI" or "property tax", is in for a surprise Sorry, but robbing Peter to pay Paul does not strike me as a viable long term strategy either. Much like the current brain drain from other countries to the West, the reverse could easily occur; the talented and wealthy could leave for other countries and find success there. A saner…