America's retirement age of 65 is "crazy," BlackRock CEO says.

[RicoSuave102954]

With Americans living longer and spending more years in retirement, the nation's changing demographics are "putting the U.S. retirement system under immense strain," according to BlackRock CEO Larry Fink in his annual shareholder letter.

One way to fix it, he suggests, is for Americans to work longer before they head into retirement.

"No one should have to work longer than they want to. But I do think it's a bit crazy that our anchor idea for the right retirement age — 65 years old — originates from the time of the Ottoman Empire," Fink wrote in his 2024 letter, which largely focuses on the retirement crisis facing the U.S. and other nations as their populations age.

Fink's suggestions about addressing the nation's retirement crisis come amid a debate about the future of Social Security, which will face a funding shortfall in less than a decade. Some Republican lawmakers have proposed raising the retirement age for claiming Social Security benefits, arguing, like Fink, that because Americans are living longer, they should work longer, too.

MSN

www.msn.com

 

[Colonoscopy]

With Americans living longer and spending more years in retirement, the nation's changing demographics are "putting the U.S. retirement system under immense strain," according to BlackRock CEO Larry Fink in his annual shareholder letter.

One way to fix it, he suggests, is for Americans to work longer before they head into retirement.

"No one should have to work longer than they want to. But I do think it's a bit crazy that our anchor idea for the right retirement age — 65 years old — originates from the time of the Ottoman Empire," Fink wrote in his 2024 letter, which largely focuses on the retirement crisis facing the U.S. and other nations as their populations age.

Fink's suggestions about addressing the nation's retirement crisis come amid a debate about the future of Social Security, which will face a funding shortfall in less than a decade. Some Republican lawmakers have proposed raising the retirement age for claiming Social Security benefits, arguing, like Fink, that because Americans are living longer, they should work longer, too.

MSN

www.msn.com

I think it should be 35 personally. By 35 you usually realize it's all bullshit.

 

[joelbc1]

With Americans living longer and spending more years in retirement, the nation's changing demographics are "putting the U.S. retirement system under immense strain," according to BlackRock CEO Larry Fink in his annual shareholder letter.

One way to fix it, he suggests, is for Americans to work longer before they head into retirement.

"No one should have to work longer than they want to. But I do think it's a bit crazy that our anchor idea for the right retirement age — 65 years old — originates from the time of the Ottoman Empire," Fink wrote in his 2024 letter, which largely focuses on the retirement crisis facing the U.S. and other nations as their populations age.

Fink's suggestions about addressing the nation's retirement crisis come amid a debate about the future of Social Security, which will face a funding shortfall in less than a decade. Some Republican lawmakers have proposed raising the retirement age for claiming Social Security benefits, arguing, like Fink, that because Americans are living longer, they should work longer, too.

MSN

www.msn.com

I bet this CEO feels that capping his SS liability where it is is fair, too, doesn’t he? Maybe he and oters like him, ought to have the cap “lifted” from the earnings to be calculated for their contribution into the SS fund….

 

[bojihawk44]

Yeah, fvck this guy.

Guarantee he also opines about how"nobody wants to work anymore" while reaping in millions in bonuses.

He's right that 65 is crazy, though. It should be way lower. Unless Kimmy and her klan mess it up, thanks to IPERS I'll be retiring much earlier than that.

 

[Here_4_a_Day]

I bet this CEO feels that capping his SS liability where it is is fair, too, doesn’t he? Maybe he and oters like him, ought to have the cap “lifted” from the earnings to be calculated for their contribution into the SS fund….

You tell him, comrade!!

 

[JMNSHO]

Hey dipshit. The idea to retire at 65 originated with a tired out 64 year old dude. Some asshole in a suit brought in the idea of the Ottoman Empire.

I hear the modern concept of property rights originated in the 17th century. Let’s revisit that.

 

[seminole97]

I hear the modern concept of property rights originated in the 17th century. Let’s revisit that.

The Marxists already did.
Results were disappointing.

If people were saving 12%+ of their income they’d retire with incomes larger than when they worked. Instead we give 12%+ of our income to politicians in exchange for promises to get some of that money back.

 

[SoDakHawk]

F that dude. Agree, time to lift the SS cap.

The elites attitude is that the rest of us can just work until we have one foot in the grave while they hop on their private jet on the way to their Florida mansion complete with a yacht.

 

[Finance85]

I bet this CEO feels that capping his SS liability where it is is fair, too, doesn’t he? Maybe he and oters like him, ought to have the cap “lifted” from the earnings to be calculated for their contribution into the SS fund….

There's already a cap on SS payouts, and contributions are vastly disproportionate to payouts already.

Where the CEO gets it wrong is that people retiring now don't get to full retirement age until 66+. Full retirement age will be 67 in a couple of years. If he really wants to go down that road, he should advocate changing early retirement from 62 to 65, and linking Medicare ages directly to SS ages. There's no reason why I should be required to sign up for Medicare Part A at 65 while I'm still working.

 

[markfromj]

"No one should have to work longer than they want to.”

WTF?

 

[Here_4_a_Day]

There's already a cap on SS payouts, and contributions are vastly disproportionate to payouts already.

Where the CEO gets it wrong is that people retiring now don't get to full retirement age until 66+. Full retirement age will be 67 in a couple of years. If he really wants to go down that road, he should advocate changing early retirement from 62 to 65, and linking Medicare ages directly to SS ages. There's no reason why I should be required to sign up for Medicare Part A at 65 while I'm still working.

Someone has to pay for the weak, lame and lazy under the guise of "fair share."

 

[IAFB2021Champs]

Good luck with that old dude. The younger generation already doesn’t want to work at all. Good luck getting them to work past 65 years old.
Can you imagine working until you’re 75 and 5-10 years later going into a home because you can’t function on your own. What a way to live life.

 

[Randy Marsh]

Good luck with that old dude. The younger generation already doesn’t want to work at all. Good luck getting them to work past 65 years old.
Can you imagine working until you’re 75 and 5-10 years later going into a home because you can’t function on your own. What a way to live life.

Right. Save for 40 years and hope you get 5-10 decent years before you start falling apart, sounds great.

 

[Here_4_a_Day]

Good luck with that old dude. The younger generation already doesn’t want to work at all. Good luck getting them to work past 65 years old.
Can you imagine working until you’re 75 and 5-10 years later going into a home because you can’t function on your own. What a way to live life.

They are entitled to not work...just ask them! The ****ing boomers created a world where people have to work for a living....what assholes! 🤣 Just look at all the blue cities rolling out their "guaranteed income" programs. No wonder the ****ing ILLEGALS are breaking their necks to get here...........

 

[RicoSuave102954]

I bet this CEO feels that capping his SS liability where it is is fair, too, doesn’t he? Maybe he and oters like him, ought to have the cap “lifted” from the earnings to be calculated for their contribution into the SS fund….

As usual one of our resident socialists exhibits hate on successful people who have accomplished many things in their life.

The hate from the nobody's of the world is strong in this thread.

 

[RicoSuave102954]

Yeah, fvck this guy.

Guarantee he also opines about how"nobody wants to work anymore" while reaping in millions in bonuses.

He's right that 65 is crazy, though. It should be way lower. Unless Kimmy and her klan mess it up, thanks to IPERS I'll be retiring much earlier than that.

IPERS is unsustainable unless something drastic changes you won't be collecting it for long.

 

[joelbc1]

As usual one of our resident socialists exhibits hate on successful people who have accomplished many things in their life.

The hate from the nobody's of the world is strong in this thread.

Rico…. I just love your idiocy. Whenever U need to feel good about myself, I just check out the latest “Rico” thread.

 

[Finance85]

As usual one of our resident socialists exhibits hate on successful people who have accomplished many things in their life.

The hate from the nobody's of the world is strong in this thread.

You might be right. That said, I don't really think it's what you say. I believe there are many large, fundamental misconceptions about how things really work. The Blackrock CEO doesn't even know that full retirement age hasn't been 65 for a long time.

What's really criminal is having to pay income taxes on up to 50% of social security payments if income is over a very low threshold, and that income includes retirement distributions from 401K's and traditional IRA's.

 

[Here_4_a_Day]

IPERS is unsustainable unless something drastic changes you won't be collecting it for long.

IPERS is a joke! Weak returns that don't even come close to keeping pace with inflation.

 

[RicoSuave102954]

Good luck with that old dude. The younger generation already doesn’t want to work at all. Good luck getting them to work past 65 years old.
Can you imagine working until you’re 75 and 5-10 years later going into a home because you can’t function on your own. What a way to live life.

But if you really didn't want to work much and didn't in the previous 70 years what how would you be tired and broken?

 

[theiacowtipper]

IPERS is unsustainable unless something drastic changes you won't be collecting it for long.

Hmm. Thats not what Kim Reynolds said in her last statement I received in the mail. She said that IPERS would be able to pay all benefits for the foreseeable future. Are you saying she is a liar?

 

[markfromj]

…and that income includes retirement distributions from 401K's and traditional IRA's.

It should, right? That is deferred (from a tax standpoint) earned (much of it) income, right?

 

[markfromj]

Right. Save for 40 years and hope you get 5-10 decent years before you start falling apart, sounds great.

You know, you can do a lot of great living WHILE in the working years.

 

[Finance85]

It should, right? That is deferred (from a tax standpoint) earned (much of it) income, right?

A portion is deferred earnings, and a portion is investment income.

 

[Titanhawk2]

With Americans living longer and spending more years in retirement, the nation's changing demographics are "putting the U.S. retirement system under immense strain," according to BlackRock CEO Larry Fink in his annual shareholder letter.

One way to fix it, he suggests, is for Americans to work longer before they head into retirement.

"No one should have to work longer than they want to. But I do think it's a bit crazy that our anchor idea for the right retirement age — 65 years old — originates from the time of the Ottoman Empire," Fink wrote in his 2024 letter, which largely focuses on the retirement crisis facing the U.S. and other nations as their populations age.

Fink's suggestions about addressing the nation's retirement crisis come amid a debate about the future of Social Security, which will face a funding shortfall in less than a decade. Some Republican lawmakers have proposed raising the retirement age for claiming Social Security benefits, arguing, like Fink, that because Americans are living longer, they should work longer, too.

MSN

www.msn.com

It's no different than most of Europe, not that they're a benchmark, but seems a stupid argument that it should be this or that, or compare to something 120 years old

 

[RicoSuave102954]

Hmm. Thats not what Kim Reynolds said in her last statement I received in the mail. She said that IPERS would be able to pay all benefits for the foreseeable future. Are you saying she is a liar?

I think she is misinformed on the subject just like you are.

 

[markfromj]

A portion is deferred earnings, and a portion is investment income.

True. So are you cranky about either portion being used to determine what portion of SS benefits is taxable?

 

[Finance85]

True. So are you cranky about either portion being used to determine what portion of SS benefits is taxable?

Yes. Investment income definitely shouldn't be considered in the test.

Overall, SS benefits shouldn't be taxed at all. That money was taken from me for over 50 years.

 

[luvmyhawks]

The ceo of BlackRock is 100% correct. 65 is crazy. Should be 60 at most.

 

[luvmyhawks]

You might be right. That said, I don't really think it's what you say. I believe there are many large, fundamental misconceptions about how things really work. The Blackrock CEO doesn't even know that full retirement age hasn't been 65 for a long time.

What's really criminal is having to pay income taxes on up to 50% of social security payments if income is over a very low threshold, and that income includes retirement distributions from 401K's and traditional IRA's.

It is actually up to 85% of social security that can be taxed.

 

[luvmyhawks]

Hmm. Thats not what Kim Reynolds said in her last statement I received in the mail. She said that IPERS would be able to pay all benefits for the foreseeable future. Are you saying she is a liar?

No. She isn’t a liar. Ipers is 90% funded which is considered good.

 

[luvmyhawks]

I think she is misinformed on the subject just like you are.

Why don’t you explain it to us then.

 

[Kinnick.At.Night]

65 is crazy. I’m gone the day I turn 60. With full pension, baby.

 

[Randy Marsh]

You know, you can do a lot of great living WHILE in the working years.

Yes of course. But unfortunately a lot of professional roles don’t allow for a complete disconnect for an extended period of time. I have plenty of time off each year, but there are a lot of things that at this point in life I cannot do because of my need to perform in my role. Ideally I will be out by 50-55.

 

[SoDakHawk]

I also see this as the Boomer generation got to enjoy a retirement, SS will get sucked dry, and the ladder will get pulled up behind them. You future generations, sucks to be you, you can work until you are in the grave.