Here's some unpleasant news for people who are planning to maybe retire eventually one day before they die from one of our esteemed job-creators…
American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche said Europe's debt crisis shows governments worldwide must accept that people will have to work more years as life expectancies increase.
"Retirement ages will have to move to 70, 80 years old," Benmosche, who turned 68 last week, said during a weekend interview at his seaside villa in Dubrovnik, Croatia. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth."
Ugh! That's a hard pill to swallow, but what are you gonna do? I guess we'll all just have to make due with weekend trips to our Croatian seaside villas for an extra few years. It'll be tough, but we'll soldier through somehow, I'm sure.
And I guess it couldn't hurt to downgrade to a less expensive brand of caviar.
Tags: Debt, Economy, Money