Currently, in the United States private sector workers must work until the age of 67 in order to obtain their full retirement benefits. The government has generally tied retirement age to life expectancy.
Former member of the Council of Economic Advisers, Alicia H. Munnell, states that "raising the retirement age is one way to cut benefits under national social insurance programs-one that merits consideration when people are living longer healthier lives." This is actually great news, right? Longer healthier lives. Who wouldn't/doesn't want this? I mean after all if we have to be here may as well be healthy! WRONG! Living longer healthier lives does not equate ones desire to work until they are UNHEALTHY. Many years are spent working tirelessly to make ends meet. Years are spent trying to begin building a nest egg. And for some they have no desire to ever retire. Some of us will be sitting at our desks coffee mug in hand when God calls our names. Is this truly living longer healthier lives?
Sure, seniors are living longer than people did years before. Unfortunately, the higher the retirement age is the higher the "new hire" age becomes. As long as our parents are forced to work until dementia sets in. Until carpal tunnel deprives them of the strength to accomplish their tasks. Newer generations will be forced to settle. Turning into career students running up the financial aid debt. The circle of life works on an input/output cycle. New jobs can't be created and old jobs can't be filled as long as the seniors are still collecting dust in front of their desk.
Now none of this is said to be vindictive. Nor, do I have anything against seniors. My father is a senior and I am ever so proud of him. Even more proud to have the opportunity to walk in his legacy. However, a few years ago my Dad took the stance to retire. To move around so that newer generations may be gainfully employed. I'm not saying that because he chose this option that this is the only viable option. Those are not my thoughts at all.
However, as I look around workplaces I see people that are "dying to retire". And as I watch the graduates walk across the stage at commencement ceremonies I see faces weighted with mixed emotions. Tears of joy because they have crossed what used to be the threshold to independence. Tears of sorrow because the job market is on lock-down by increased retirement ages.
I'm saddened as I watch my friends and loved ones struggle to be gainfully employed. All the while the US continues to raise the retirement age. So while people are living far into their 80s. People are far into their 30s-40s before they are able to begin their careers, buy homes, have children, start a nest egg.
Years ago a comedian suggested looking through the obituaries for jobs. Sadly, it is no longer comedy. Due to higher retirement ages adolescence has practically intersected with middle age. One fact that seems to be forgotten is that years ago retirement age was younger, but so was "working age". Years ago people started their careers in the late teens and early 20s.
So go ahead, raise the retirement age. The new generations can wait. . .
So I ask you. . . is retirement age high enough yet?
