| numonex said:
The increase in Baby Boomer retirees will create a huge increase in government expenditure to pay for aged pensions and subsidize expensive health care. Will company and personal income taxes need to be increased to pay for the short fall? Maybe the population needs to grow and bring in more workers? Who will pay for the baby boomer retirements and health care plans? Another impending financial crisis. Most of the self funded retirees super will run out and the tax payers will have to foot the bill for their pensions. What is the solution to this problem? |
Retirement will likely get replaced by catastrophic living insurance that is a variant of workers comp, but more permanent. If you are unable to work, you then are done. Retirement now will end up being akin to being independently wealthy where assets owned generate income so you can live.
