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Blame it on aggressive public policy – and an aging society, says one professor

Via Jay, Mark E. Deschaine, PhD

For many of us, it’s starting to feel like the light at the end of the tunnel of life has been blocked by a triple-bolted steel door. Who’s to blame for this mess?

 

The Germans.

 

Yes, back in 1889, German Chancellor Otto von Bismarck invented the idea of retirement, establishing the concept for the rest of us. “Those who are disabled from work by age and invalidity have a well-grounded claim to care from the state,” he said at the time. He wanted to address high youth unemployment by paying those 70 and older to leave the workforce, and other countries followed suit with retirement ages around 65 or 70.

 

But there is one big difference between 1889 Germany and the world we live in today: The average lifespan then was 70 years. Now we’re all living much, much longer. And many of us would like to retire much earlier. But the scary headlines — and the realities that we see around us — cast doubt on our ability to ever retire. The entire concept of retirement is starting to feel flimsy at best.

Via The Learning Factor