October 1, 2011

75 WOULD BE A GOOD START:

Should the retirement age be raised to 70?: One expert argues that life expectancy is up, so raising the retirement age is necessary to preserve benefits. (Joshua M. Brown, 10/01/11, CS Monitor)

Jeffrey Gundlach, who possesses one of the most fascinating investing intellects of our time, was there to greet the guests in a gray-checked suit with bright red tie and pocket square in the foyer. For the uninitiated, Jeffrey opened his own asset management shop, DoubleLine, in Los Angeles two years ago. Since then, he's raised about $16 billion starting from zero. [...]

On Entitlements: Retirement age simply MUST be raised, probably to 70 years old. FDR originally set the retirement age (for Social Security benefit eligibility) at 65 years old - but at a time when the average life expectancy was 61! So rather than being a softie, he actually was being rather tough. Nowadays, our life expectancy is 79, if you were to do what FDR did, you'd be setting retirement 4 years later at 83 years old!

Posted by at October 1, 2011 4:55 PM
  

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