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Retirement age should be lowered to 55
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I have taken in the current societies ills for the past few years, and I feel the retirement age should be lowered to 55, for the following reasons.
1. People should not spend ALL of their life working. The purpose of life is to enjoy life, not to be a widget for someone ELSES wealth creation.
2. It would give younger workers more rapid advancement. As a result, the cycling of new ideas and innovations would be stimulated and increased.
3. People might actually stay in better health, due to the lowering of the impact of stress at middle and older ages. This offers a benefit to society as a whole in the form of lower health care expenses.
4. People would be encouraged to save more at an earlier age to achieve retirement at 55. A new financial architecture would have to be created to do this effectively, which would create more jobs.
5. Employers would benefit in that they would not have to push people out of their jobs in their 50s, and endure the fallout of such actions, (lawsuits, workplace violence, etc.)
6. Grandparents who retired earlier would have more time to help their children and aging parents, without the added stress of the workplace. An improvement overall in the quality of life for several groups.
7. You would have a large segment of the population on fixed incomes, which would stablize spending in the economy (less people dependent on wages)
8. People could still be useful to society through volunteer work, mentoring, etc. It would strengthen the fabric of society.
We would pay for this by getting people to save more aggressively, and a general flat tax to a national retirement fund. It could be a multitude of low impact taxes compounded , think a couple cents on the dollar, on financial transactions, travel, imports, etc. It CAN be achieved.
1. People should not spend ALL of their life working. The purpose of life is to enjoy life, not to be a widget for someone ELSES wealth creation.
2. It would give younger workers more rapid advancement. As a result, the cycling of new ideas and innovations would be stimulated and increased.
3. People might actually stay in better health, due to the lowering of the impact of stress at middle and older ages. This offers a benefit to society as a whole in the form of lower health care expenses.
4. People would be encouraged to save more at an earlier age to achieve retirement at 55. A new financial architecture would have to be created to do this effectively, which would create more jobs.
5. Employers would benefit in that they would not have to push people out of their jobs in their 50s, and endure the fallout of such actions, (lawsuits, workplace violence, etc.)
6. Grandparents who retired earlier would have more time to help their children and aging parents, without the added stress of the workplace. An improvement overall in the quality of life for several groups.
7. You would have a large segment of the population on fixed incomes, which would stablize spending in the economy (less people dependent on wages)
8. People could still be useful to society through volunteer work, mentoring, etc. It would strengthen the fabric of society.
We would pay for this by getting people to save more aggressively, and a general flat tax to a national retirement fund. It could be a multitude of low impact taxes compounded , think a couple cents on the dollar, on financial transactions, travel, imports, etc. It CAN be achieved.
a reply to: openminded2011
It can be achieved, but why would the fat cats want that to happen when we can spend another 10 years paying taxes to get retirement benefits for a shorter amount of time?
If people save and invest wisely, paying down debt, not living off of plastic, then they could do this easily. That isn't how people think though. When we are young, we believe we are invincible with no thought to our own retirement, nor any notion of how to do this. They should start teaching these things early in high school to better prepare kids. I'm 35 now and for the last 5 years, I have been doing what I am preaching without having to sacrifice my standard of living too much. I still vacation, still buy things I want, still have fun with the kids. I just don't do unnecessary things now.
It can be achieved, but why would the fat cats want that to happen when we can spend another 10 years paying taxes to get retirement benefits for a shorter amount of time?
If people save and invest wisely, paying down debt, not living off of plastic, then they could do this easily. That isn't how people think though. When we are young, we believe we are invincible with no thought to our own retirement, nor any notion of how to do this. They should start teaching these things early in high school to better prepare kids. I'm 35 now and for the last 5 years, I have been doing what I am preaching without having to sacrifice my standard of living too much. I still vacation, still buy things I want, still have fun with the kids. I just don't do unnecessary things now.
Anyone can "retire" anytime they would like. You just would not receive SSI benefits and in most cases retirement plans don't pay until 55-65. Hell
I know plenty of people that are "retired" right now living off the system getting food stamps and government assistance, at least that is how some
of them treat it anyway.
The following is my opinion as a member participating in this discussion.
originally posted by: openminded2011
People should not spend ALL of their life working. The purpose of life is to enjoy life, not to be a widget for someone ELSES wealth creation.
Mandatory retirement at age 55? No. When people retire their income drops substantially. Most everyone I know wouldn't be able to survive being forced to retire at 55. People need the income. People need that 55-65 years to be working years so they can save money to live off when they have to stop working.
The purpose of life is to enjoy life? Says who? For most people, the purpose of life is to survive and to try not to be miserable while doing so.
As for the "You would have a large segment of the population on fixed incomes" ... yes .. and it would be much HARDER for them and for everyone else, especially the taxpayer who would have to pick up the burden of caring for them via 'entitlements'. The longer that people can earn a living and take care of themselves, the better for everyone.
As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.
originally posted by: FlyersFan
The following is my opinion as a member participating in this discussion.
originally posted by: openminded2011
People should not spend ALL of their life working. The purpose of life is to enjoy life, not to be a widget for someone ELSES wealth creation.
The purpose of life is to enjoy life? Says who? For most people, the purpose of life is to survive and to try not to be miserable while doing so.
No, that is the purpose of a slave. We have the right to change that paradigm but we have been brainwashed to think we don't. You need to go back and read my post. I stated that we will have to change a few things to allow this to be feasible.
edit on 1-1-2015 by openminded2011 because: (no reason given)extra DIV
a reply to: openminded2011 Last seen in Utopia.
Retirement age should be lowered to 55.
The working week should be 3 days.
Wages should be doubled.
The poor should pay low tax, the rich high tax.
Homeless people should be looked after properly.
Money should be spent on helping the sick - reduce ever increasing waiting lists.
We do not live in a fair world where our votes count and those who lead have our interests at heart. We are slaves.
Retirement age should be lowered to 55.
The working week should be 3 days.
Wages should be doubled.
The poor should pay low tax, the rich high tax.
Homeless people should be looked after properly.
Money should be spent on helping the sick - reduce ever increasing waiting lists.
We do not live in a fair world where our votes count and those who lead have our interests at heart. We are slaves.
originally posted by: and14263
a reply to: openminded2011 Last seen in Utopia.
Retirement age should be lowered to 55.
The working week should be 3 days.
Wages should be doubled.
The poor should pay low tax, the rich high tax.
Homeless people should be looked after properly.
Money should be spent on helping the sick - reduce ever increasing waiting lists.
We do not live in a fair world where our votes count and those who lead have our interests at heart. We are slaves.
Then the world needs to change. We need to throw off the brainwashing, decide how we want society to be structured and RE-STRUCTURE it. We the people have the power to do this.
edit on 1-1-2015 by openminded2011 because: (no reason given)
a reply to: openminded2011
Interesting stuff! I have a few things I'd like to hear your ideas on...
One of the key factors for retire-ability, in my view, is having your mortgage paid off by the time you do so. If you're targetting an age 55 year retirement, and you still have ye olde 30 year mortgage, people are going to have to buy their houses at 25, which not everyone is in position to do after, perhaps, just getting out of college. What do you think is a possible solution to this? Faster loan payoff schedules? That would make it more difficult to save more earlier, as you suggested.
Also, what about renters? If they continue to rent into retirement, they will have a greater financial liability the rest of their lives, potentially, so how do they save enough to rent an extra 10+ years? This is not really a new issue, I was just curious. The real point is that those with generally lower incomes (currently) have greater (percentage wise) of continued post-retirement financial liability.
I like the tax ideas. I've always thought that the only tax that should exist is an "exchange tax" where when money is exchanged for goods and services, that facilitation of the transfer should be the only thing that is taxed. No continued ownership taxes (car registrations, property taxes) or separate income taxes.
Interesting stuff! I have a few things I'd like to hear your ideas on...
One of the key factors for retire-ability, in my view, is having your mortgage paid off by the time you do so. If you're targetting an age 55 year retirement, and you still have ye olde 30 year mortgage, people are going to have to buy their houses at 25, which not everyone is in position to do after, perhaps, just getting out of college. What do you think is a possible solution to this? Faster loan payoff schedules? That would make it more difficult to save more earlier, as you suggested.
Also, what about renters? If they continue to rent into retirement, they will have a greater financial liability the rest of their lives, potentially, so how do they save enough to rent an extra 10+ years? This is not really a new issue, I was just curious. The real point is that those with generally lower incomes (currently) have greater (percentage wise) of continued post-retirement financial liability.
I like the tax ideas. I've always thought that the only tax that should exist is an "exchange tax" where when money is exchanged for goods and services, that facilitation of the transfer should be the only thing that is taxed. No continued ownership taxes (car registrations, property taxes) or separate income taxes.
edit on 1/1/2015 by xenthuin because: Typo
With life expectancies rising ( theoretically, at least the last time I looked ), I think we need to overhaul the entire concept of retirement. Right
now we allow companies to mandatorily retire people who don't want to quit - while trying to make the disabled and sick work even though they
can't... all based upon age?
This is just irrational. People aren't all round pegs and yet our system has just one shaped hole for everyone ( I hope that reads better than it sounds in my head ). There should be at least several options regarding retirement that include all factors, such as health, desire to continue working when past the standard age limits, etc.
Sadly this just addresses one very minor aspect of a much larger and systemic issue - Corporatocracy and a system built around nothing but worship of wealth and the exploitation thereof.
This is just irrational. People aren't all round pegs and yet our system has just one shaped hole for everyone ( I hope that reads better than it sounds in my head ). There should be at least several options regarding retirement that include all factors, such as health, desire to continue working when past the standard age limits, etc.
Sadly this just addresses one very minor aspect of a much larger and systemic issue - Corporatocracy and a system built around nothing but worship of wealth and the exploitation thereof.
The following is my opinion as a member participating in this discussion.
originally posted by: openminded2011
No, that is the purpose of a slave.
The purpose of human life is to survive. The purpose of ANY life is to survive. Work and toil are a part of life. This is human history. Sitting back and forcing taxpayers to give you a free ride via entitlements when you are still capable of carrying your own weight is lazy and just wrong.
I read your post. I read your points. Forcing people into fixed incomes when they are capable of working for their own living doesn't help anyone. You've disempowered them. And with a system like that, people wouldn't be 'forced to save more at younger ages'. They won't be saving anything. They'll be paying increased taxes in order to support the 55+ crowd who aren't allowed to work and carry their own weight.
If people WANT to retire at 55 and can afford to do so, then great.
But making retirement age 55 for everyone simply can't work.
As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.
a reply to: FlyersFan
I am not talking about forced retirement. I am talking about creating an infrastructure that ALLOWS people to retire at this age. No where in my post do I ever say you will be forced to retire. Also you dont seem to realize that there are a lot of people BEING forced into retirement by their employers before they are ready. If people had this option, and their employer was forcing them out, and their financial ducks were in a row to do it, I think you would see people doing it in droves. The workplace is not friendly to older workers, and I know there are a lot of people who want out of corporate serfdom. I am simply saying we create a path to do so.
I am not talking about forced retirement. I am talking about creating an infrastructure that ALLOWS people to retire at this age. No where in my post do I ever say you will be forced to retire. Also you dont seem to realize that there are a lot of people BEING forced into retirement by their employers before they are ready. If people had this option, and their employer was forcing them out, and their financial ducks were in a row to do it, I think you would see people doing it in droves. The workplace is not friendly to older workers, and I know there are a lot of people who want out of corporate serfdom. I am simply saying we create a path to do so.
edit on 1-1-2015 by openminded2011 because: (no reason given)
a reply to: openminded2011
My husband is 78 years old and still works full time as an IT specialist.
I will be turning 60 in a few weeks and I would love to get social security.
I have to wait until I turn 62 to get the minimum amount.
My husband is 78 years old and still works full time as an IT specialist.
I will be turning 60 in a few weeks and I would love to get social security.
I have to wait until I turn 62 to get the minimum amount.
a reply to: FlyersFan
That doesn't apply to everyone. People who perform physical labor have shorter working lives then others who have less strenuous jobs-and raising the retiring age will mean that some could work themselves to death or disability.
The age of retirement is over. To quote bittersweet symphony- "try to make ends meet, you're a slave to money then you die."
The longer that people can earn a living and take care of themselves, the better for everyone.
That doesn't apply to everyone. People who perform physical labor have shorter working lives then others who have less strenuous jobs-and raising the retiring age will mean that some could work themselves to death or disability.
The age of retirement is over. To quote bittersweet symphony- "try to make ends meet, you're a slave to money then you die."
There is nothing stopping anyone from retiring at 55. What I think the OP really wants is for someone else to pay for it.
a reply to: openminded2011
It sounfs good on paper...but with close to half the country making poverty wages so rich beyond belief corporations can grow their profits...good luck with most saving anything in any time frame.
Most americans below 50 today will not see any return on the SS benefits they paid into their entire life, how will upping the problem help this?
Only workers getting more for their labors vs management and investors keeping all the profits make your dream possible.
In this parhetic greed beyond belief based world...not gonna happen.
Question to a wallstreet banker..." when is it enough?" "It is never enough" true story
It sounfs good on paper...but with close to half the country making poverty wages so rich beyond belief corporations can grow their profits...good luck with most saving anything in any time frame.
Most americans below 50 today will not see any return on the SS benefits they paid into their entire life, how will upping the problem help this?
Only workers getting more for their labors vs management and investors keeping all the profits make your dream possible.
In this parhetic greed beyond belief based world...not gonna happen.
Question to a wallstreet banker..." when is it enough?" "It is never enough" true story
Have the government tell people that they are not allowed to be employed after age 55?
No thanks.
No thanks.
originally posted by: Edumakated
There is nothing stopping anyone from retiring at 55. What I think the OP really wants is for someone else to pay for it.
I want people to ready THEMSELVES for retirement. And as for "someone else paying for it" we already have a long history of people paying. The bank bailout. Subsidies for oil companies, 10,000 dollar hammers for the defense industry. No one seems upset about these things, but God forbid, if someone starts talking about trying to improve the quality of life of the peasants, look out.
a reply to: Edumakated
You do realize that Social Security is insurance and that you pay for it your entire working life, right? It's not an entitlement. Thus everyone who works pays into the fund for their basic retirement via FICA.
People are so misled these days about what is what.
You do realize that Social Security is insurance and that you pay for it your entire working life, right? It's not an entitlement. Thus everyone who works pays into the fund for their basic retirement via FICA.
People are so misled these days about what is what.
originally posted by: openminded2011
originally posted by: Edumakated
There is nothing stopping anyone from retiring at 55. What I think the OP really wants is for someone else to pay for it.
I want people to ready THEMSELVES for retirement. And as for "someone else paying for it" we already have a long history of people paying. The bank bailout. Subsidies for oil companies, 10,000 dollar hammers for the defense industry. No one seems upset about these things, but God forbid, if someone starts talking about trying to improve the quality of life of the peasants, look out.
Valid point....pointless though. The only thing that will ever happen is what adds to the elites mountains of gold.
See it is always ok to give free money to the already rich, it is never ok to give it to those that need it.
Think of the wallstreet bailouts.
Give the same amount to regular folks, cars get bought, mortgages paid, goods and services purchased, economy instantly stimulated across the board.
It wasnt about economic stimulus, it was about privatised profits and making loses public.
originally posted by: Hefficide
a reply to: Edumakated
You do realize that Social Security is insurance and that you pay for it your entire working life, right? It's not an entitlement. Thus everyone who works pays into the fund for their basic retirement via FICA.
People are so misled these days about what is what.
If your position were true the first recipients wouldnt have gotten it for free having never paid in, and 18 year old kids wouldnt get it for life having never paid in.
It is not Insurance, it is a racket, that most on this board will pay into all our lives and never get.
In my case, it will be bankrupt long before I reach retirement, not to mention they raised my age group to 72 before we can even get full benefits...there is even talk of raising it to 78.
It is funny what people will believe these days.
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