For those who don't know, Blackrock is the largest asset management firm in the world with $10 trillion in assets (double the annual US government budget). He's literally upset that not enough Americans die before retiring anymore and says we need to move the retirement age into the 70s.
Fink, who is worth an estimated $1.2 billion, notes that many 65-year-olds in the early 1950s didn't get a chance to retire because many had already passed away. In other words, he writes, more than half of workers who had paid into Social Security never got a penny because they died before they could claim the benefit.
Imagine bringing up that argument as a reason to move the retirement age up.
finance.yahoo.com
Trump and the Republicans have been talking about cutting Social Security as well. I suspect their old-ass base thinks they'll be grandfathered in and it will only impact the people currently working.
www.nbcnews.com
Fink, who is worth an estimated $1.2 billion, notes that many 65-year-olds in the early 1950s didn't get a chance to retire because many had already passed away. In other words, he writes, more than half of workers who had paid into Social Security never got a penny because they died before they could claim the benefit.
Imagine bringing up that argument as a reason to move the retirement age up.
America's retirement age of 65 is "crazy," BlackRock CEO says
BlackRock CEO Larry Fink said that longer life expectancies are "putting the U.S. retirement system under immense strain."
Trump and the Republicans have been talking about cutting Social Security as well. I suspect their old-ass base thinks they'll be grandfathered in and it will only impact the people currently working.
Trump floats 'cutting' retirement spending, drawing quick pushback from Biden
The Republican nominee-in-waiting said that “there’s a lot you can do in terms of cutting” when pressed on CNBC about the solvency of Social Security, Medicare and Medicaid.
www.nbcnews.com
