Do you think our retiring age will extended to 70 years old?
By swetashah
@swetashah (345)
United States
April 4, 2010 11:26am CST
Obviously, our Social security will be exhausted in the near future. What we are paying now for the SSC taxes only enough for the retirees for the next couple of yeaes, thanks to our president brilliant financial planning. In order to survive such harsh economic environment in the future, we can only depend on 401K, IRA, Roth or other tax - free saving accounts. What is more, maybe we have to extend the retiring age to 70. It is the literal work til death.
2 people like this
3 responses
@palonghorn (5479)
• United States
4 Apr 10
They might extend the age for retirement to 70, but then again I know a lot of people who retire, get SS and still work part-time because it's not enough on social security alone. As for blaming this on our present President.....this has been going on long before he was ever elected. They have been saying for years that it was going to run out of money, I've always figured that there wouldn't be any social security when I get to retirement age. Most people work into their 70's now, so changing that wouldn't be a big stretch.
1 person likes this
@swetashah (345)
• United States
5 Apr 10
So, we have to saving like maniac just like some of the member suggested. We have to make earlier plan into the future, otherwise, we simply couldn't handle all the living expenses as we see it from now.
1 person likes this
@bluemars (952)
• Australia
5 Apr 10
To be honest with you I don't know but I do think about the future alot and I just don't what will happen around the corner let alone when I reach that kind of old age. It is a very hard thing to imagine because we all want to imagine good things for the future but at the same time that can be hard especially when I look around and I see so many of them struggling just to survive on bare minimums and basic essentials.
@anurag3786 (6265)
• India
5 Apr 10
I think the retirement age is 62 is better.. because in 70 age persons have no more ability for working.. because they become weak.. so 62 age for retirement is good.. as in present are 60-62.. have a nice day and keep mylotting always..
