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Another thread got me thinking. A lot of problems in the American economy would be solved if there was a mandatory retirement age. I think the US should have a mandatory retirement age.
What problems in the economy would be solved with a mandatory retirement age? Please explain. And what age should that be?
Absolutely... but this isn't entirely about retirement is it? Its about the right to choice.
True it's about choice, one forced retirement and not having a choice and two not saving enough and being forced to keep working. If Americans were better savers there would be more turnover in the later years. I'm not for forced retirement and I wouldn't like being forced to work
Yep. And a lot of professionals would continue working, because golfing every day and takig cruises doesn't interest them.
A lot of people choose to work past the point at which they COULD retire, because they actually like their job and get some meaning from it. Why would you want to force people into obsolescence?
I never commented on forcing people to retire nor do I think it's a good idea.
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In order to sell that, there would have to be about a 100% increase in the social security benefit payments. That would require a huge increase in the contributions out of the younger workers paychecks. Perhaps it would open up more jobs but the net pay would go down. Now if you were to propose a mandatory retirement age for the US Congress and Senate, I'd be with you.
True it's about choice, one forced retirement and not having a choice and two not saving enough and being forced to keep working. If Americans were better savers there would be more turnover in the later years. I'm not for forced retirement and I wouldn't like being forced to work
That's still a matter of choice--one chose to spend rather than save in early years. Decisions have consequences. Some people make that choice rationally for various reasons, such as, for instance, spending more to support a disabled parent or child rather than on one's own retirement.
Yep. And a lot of professionals would continue working, because golfing every day and takig cruises doesn't interest them.
A lot of people choose to work past the point at which they COULD retire, because they actually like their job and get some meaning from it. Why would you want to force people into obsolescence?
Yes. Until fairly recently, there was a cultural ethic that being useful in society was its own moral virtue. Being wealthy didn't mean becoming indolent; being wealthy meant having one's choice of work. You still see that when someone like Bill Gates "retires" from Microsoft and then continues to work just as hard for a charitable foundation.
In order to sell that, there would have to be about a 100% increase in the social security benefit payments. That would require a huge increase in the contributions out of the younger workers paychecks. Perhaps it would open up more jobs but the net pay would go down. Now if you were to propose a mandatory retirement age for the US Congress and Senate, I'd be with you.
I would not propose a mandatory retirement age for Congress--a lot of people are best suited for those jobs only after a full career in business, law, or some other social sector. But I would propose term limits.
That's still a matter of choice--one chose to spend rather than save in early years. Decisions have consequences. Some people make that choice rationally for various reasons, such as, for instance, spending more to support a disabled parent or child rather than on one's own retirement.
Did you miss in my post where I said I wasn't for forced retirement?
If Americans were better savers a lot more would retire on their own
??? How much do you expect minimum wage workers to save?
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