Jim Jubak is definitely worth reading for anyone interested in investing. This column touches on the economic problem of the aging population.
That pretty much has to be part of the solution. While the United States is rich even we are not rich enough to have people work for 40 years and not work for 40 years. Retirement at 65 was set when most people died before or soon after that date. It just is not realistic to think we can live at the standards of living we expect and only work from 25-65.
If people want to cut the standard of living during the 80 years they live that would be one tradeoff they could make. I don't believe his contention that savings is not a reasonable significant part of the solution (if that is what he means by "The whole world is getting old pretty much all at once, so saving more and investing at higher returns won't do the trick."
- The Impact of Aging on Financial Markets and the Economy: A Survey by Barry P. Bosworth, Ralph C. Bryant and Gary Burtless. The Brookings Institution, July 2004
- Aging population makes this deficit scarier, Sue Kirchhoff, USA Today.