He said people these days can continue to have active lives for another 25 years if they retire at 60.
So, obviously the answer is to keep slaving away for the man, you froggie bastards.
Caelon
Forum Addict
Posts: 916
Posted: Sun Jun 14, 2015 8:17 pm
60 + 25 = 85
Get REAL!! Quebec is announcing government policies for 1990 demographics.
TODAY 25% of Canadians live past age 90. What is that going to be 20 years from now? Our fastest growing age group is centenarians. Unless there are significant health issues I don't let any client plan for less than age 95. It takes a lot of cash to pay for 30+ years of retirement income. If your retirement plan is CPP and OAS then you are also planning for some form of welfare payment. The average CPP payment is less than $600 per month even though the max is over $1000. The people at the bottom just did not contribute enough in their lifetime to get the maximum payout.
It is the grasshopper and ant story. Should society bail out the grasshoppers in retirement? As the shear numbers of grasshoppers grow can society afford to bail them out? As the demographics shift to a huge population bubble over age 65 how much tax can the 20 to 65 year old working population afford to support the economically depressed boomers in retirement?
There will be some tough political decisions in the next 10 years. Of course the grey power voting block may make politicians hungry for power make bad long term decisions.
CKA Uber 
