INTERESTING: Living longer?

Sunday, July 7, 2013

http://www.impactlab.net/2013/07/04/109913/

July 4th, 2013 at 8:15 am
Top 3 challenges of longevity
in: Health & Fitness,Latest Trend,Science & Technology News

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In developed nations people are living longer. There are increases in life expectancy at birth ranging from 2.7 years in Greece to 5.1 years in Ireland, between 1990 and 2010.This longevity rise has been attributed to improving health factors, better lifestyles and medical advances. This is giving us reasons to celebrate, but what are the challenges of living longer?

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Money?

Nursing homes?

Dementia?

Cost of health care?

Seems that the Gooferment has really messed up pensions, Social Security, and now is aiming at health care.

Issue crossword puzzle books to everyone. Sudoku works for the Japanese.

Argh!

Money is a whole other issue. Keep working, slave!

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MONEY: Imagine that your car insurance was tied to your job?

Sunday, November 18, 2012

http://finance.yahoo.com/news/retirement-plan-shift-is-creating-a-generation-of-workers-unable-to-retire.html

Retirement Plan Shift Is Creating a Generation of Workers Unable to Retire
CBS MoneyWatchBy Steve Vernon | CBS MoneyWatch – Fri, Nov 9, 2012 3:55 PM EST

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We can no longer afford to ignore the long-term consequences of short-term thinking about our retirement programs.

Yahoo! Finance/Thinkstock – We can no longer afford to ignore the long-term consequences of short-term thinking about our retirement programs.

Large U.S. employers continue to eliminate traditional pension plans that pay retired workers a monthly lifetime pension in favor of defined contribution and hybrid plans that offer lump-sum payments at retirement, according to a recent survey HR consulting firm Towers Watson.

Among Fortune 1000 companies, only 11 percent still offer a traditional pension plan to newly hired salaried workers, down from 14 percent in 2011 and continuing a long slide from 90 percent in 1985. Conversely, in 1985 only 10 percent of those companies offered only a defined contribution plan to salaried workers — today that figure stands at 70 percent.

The primary reason for this trend has been financial: Employers don’t want the exposure to unfunded liabilities if capital markets perform poorly. At the same time, until recently employees generally hadn’t expressed a preference for traditional pension plans and, in fact, have largely embraced 401(k) and other defined contribution plans.

But this trend has its consequences in the workplace, as large numbers of baby boomers have 401(k) balances that are inadequate to fund a traditional retirement. To make matters worse, most retiring workers don’t know how to turn their nest eggs into reliable retirement income. Employers also haven’t provided much help by offering retirement income options in their defined contribution plans.

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Well, the Gooferment has been messing up the economy and distorting the employer – employee relationship since it first ERISA rule attempted to prevent Lockheed from stealing pension benefits from older aerospace engineers. 

They only made the problem worse.

Suppose that they stopped giving their corporate cronies tax breaks that weren’t available to individuals and let individuals fend for themselves for “benefits”, no problem.

Imagine that your car insurance was tied to your job?

It’s just dumb!

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POLITICAL: Canada starts to align retirement age with life expectancy; why can’t we?

Friday, March 30, 2012

http://ca.news.yahoo.com/canada-raise-retirement-age-67-report-184156915.html

Canada ups retirement age in bid to balance budget
By Michel Comte | AFP

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Canada’s center-right government called for the retirement age to be raised and for major public service cuts Thursday, in an austerity budget that aims to balance the books by 2016.

Tackling unpopular measures that many industrialized countries are being forced to consider as their populations age, the Canadian government said its budget would help the country move a step ahead.

“Other Western countries face the risk of long-term economic decline. We have a rare opportunity to position our country for sustainable, long-term growth,” Finance Minister Jim Flaherty said in the House of Commons.

*** and ***

Flaherty said old age security and guaranteed income supplement benefits worth up to a total of Can$15,000 and now paid out at age 65 would be offered only at age 67, starting in 2023.

He also announced the withdrawal of the Canadian penny from circulation later this year, saying it costs more to produce than its face value. The move will save the government Can$11 million annually.

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Seems a simple modest change. Will it make THAT much difference to folks who are 55 now.

I’d prefer something a little more dramatic at a much earlier age. Like 40’s go till they are 70. 30’s go to 75. 20’s go to 80.

And an annual “mark to market”. Remember life expectancy is supposed to top 100 in our life time.

I’d index it to inflation and means test it. If you’ve got 10M$, then you shouldn’t need the dole. Spend down to 10 and climb aboard.

Of course, ideally, everyone would be responsible for their own retirement. Like it was in the old days.

But then we were a free country!

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POLITICAL: Stossel balances the budget

Wednesday, February 29, 2012

http://www.wnd.com/2012/02/my-plan-to-balance-the-budget/

GOVERNMENT ON A DIET
My plan to balance the budget
John Stossel: ‘We’re on the way to becoming Greece – while our ‘leaders’ stand and watch’

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The military is about a fifth of the budget. I want to support our troops, but we could do that and save money if the administration would shrink the military’s mission to what it is supposed to be: protecting us from external threats. We cannot put America on a road to solvency without cutting military spending, too.

Of course, what will really bankrupt America are entitlements, especially Medicare. That’s the big one.
Why even call it an entitlement? Are we entitled to the money? People think we are, but the money is taken from the taxpayers – by force. The program is totally unsustainable. We now live so long that most of us get back about three times what we paid into these programs.

So we have to raise the retirement age, maybe index it to life spans, and turn Medicare into an insurance plan that sustains itself. That will mean that if I want the latest in high-end medicine, I have to pay for it myself.

We’re on the way to becoming Greece – while our “leaders” stand and watch. A catastrophe is happening before our eyes, but the politicians won’t act to avert it. How did they ever end up with enough power to sink our society?

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This is easy to say but hard to do.

Too many vested interests; too few patriots.

What happens when the <synonym for excrement> hits the air movement device?

I feel for the future generations. Hope they all learn Chinese.

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