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January 23, 2009

Boomers’ retirement would create jobs

We do not have to “create” jobs to produce goods or services we don’t need to rescue the economy. We can instead elect to open up the remaining jobs by making it easier for the baby boomers to retire. This is a huge portion of our population, and inducing 5 million to retire would probably be easier than trying to jump-start the economy.

What would this take? Definitely access to health care would be a requirement. Also, there would be a need to access Social Security. Rules to relax the regulations on 401(k) withdrawals may be necessary. However, these steps would not require us to make up work that may misallocate our capital resources.

Every coin has two sides. Why not think creatively?

Stephen Kunz
Overland Park

Comments

whispering_to_kc

"There is a major social and cultural message in the current economic collapse for the future retirees of America: Forget retirement."

http://www.msnbc.msn.com/id/28814777/

Retire early? Most of us will now work until we die. The first step in that journey was the replacement of traditional pensions with self-directed, market based 401k plans. The recent market crash has only finishing off the remaining retirement plans most of us harbored.

Rather than all those boomers retiring early, you'll be forced out of your regular careers by 55 to make room for Gen X and if you're lucky you'll find a $8/hr floor sales position at Home Depot to put food on the table.

The only way out of working until you're 90 for most of us is to die early. If you get lucky, you'll drop dead as you walk out the door at 55 on the last day at your "real" job.

TinaMcG

Oh, and another thing, Einstein, we just lost 30% of our 401(k) accounts. Your idea about relaxing penalties for withdrawing from them is stupid. Really really stupid.

TinaMcG

Geeeeeze, what a ridiculous letter! This is just another black-and-white overly simplistic idea that has obviously not been thought through...or thought about at all. I'm sick and tired of doofuses who know nothing about the economy coming up with one-sentence solutions to incredibly complex problems.

You want to move us out of the way to allow younger workers to simply slip into our jobs? Do you think we actually WANT to retire? Do you know how many retirees die early because they feel worthless after they retire? Or is that what you really want?!

I'm not working now because at the moment, I don't have to, so I do some volunteering and go to school. But I'm going to start working again as soon as I can because I hate not working. I may even get a job this spring just to spite you young whippersnappers.

NoMoreMrNiceGuy

The so called "infrastructure" push (which has already been implemented long before Big O took office) will be tough to labor up. Nearly every skilled trade involved in the infrasrtucture scopes are all hurting for labor. You really think this yuonger generation wants to be an iron worker, electrician, boilermaker, pipefitter, etc?
These skilled trades are not only hurting to find labor, we have to contend with arrogant screwballs like Pubic 17 that think these jobs are for dummies.
Just because there is a job available, created or whatever illusion many believe, the fact remains no one can force anyone to take that job nor force the empoyer to hire unqualified individuals wihtout government intervention and mandates.

Kate

As it stands now, by 2041 2.2 workers will support each retiree. At that time the Social Security “trust fund” will be completely exhausted.

Moving productive workers to government dependence doesn’t seem to be much of a solution.

Pub 17

And Steve rediscovers why they invented Social Security in the first place.

solomon

Imagine another 5 million on this thread or in line at Applebee's for lunch.

 
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