BlackRock CEO Larry Fink caused quite a stir when he suggested America could dodge its looming “retirement crisis” by encouraging people to continue working past age 65.
The billionaire, who chairs the world’s largest asset management firm, kicked off his 2024 annual letter to shareholders by telling his readers it is “time to rethink retirement.”
He raised the point that more Americans are retiring and their retirements are increasing by length. This, he claims, is having a “massive impact on the country’s retirement system” — specifically the nation’s Social Security coffers, which are quickly running out of money.
How bout use the increase in worker productivity to provide for the retired population over the last 50 years? We’ll take the remainder for a new welfare state too.