Friday, July 8, 2016

Negative Surprises with Annuities

Got this in the mail from the Economist this morning which I no longer subscribe. I am sure I can find the same info elsewhere and often there is no need to either or I will end up the whole day reading instead of working. 

Just imagine if they achieve a big leap here and also a couple of major killer diseases. What would happen to life expectancy and how would it affect annuity plans? I think it would be under a lot of financial distress and the possibility of some of them going broke would no longer be theoretical. 

You might not want to work after you reached retirement age, but doing things you enjoy or do not mind and getting paid is going to make more sense. Retirement lasting decades without income is simply fantasy for most people. Even if you have robots to do most of the work, there would be endless argument and even civil war over income distribution. Technology is taking us farther and faster than we know how to handle. Time to prepare by reading some good Scifi which explore moral and social issues. 

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