Longevity continues a problem for retirement savers. As advances in medicine and healthcare continue, our population is rapidly aging. Retirements are lasting as long, if not longer, then working careers. That’s putting plenty of pressure on portfolios, pensions and governments as they grapple with the problem. After all, spending more years in retirement requires much larger nest eggs and pension plan balances.
But what this really means is that the age at which we retire is going to go up.
That’s the basic theory behind a new Organization for Economic Cooperation and Development (OECD) study. In order to shore up pensions and savings, we all better get used to working longer. And that could put a serious damper on our golden years.
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