Denmark want to increase retirement age to 70 - 2025-05-24
Ah, Denmark, the land of hygge, pastries, and apparently, a looming retirement age of 70! Now, as much as I admire their commitment to a long, productive life, my financial spidey-sense starts tingling when I hear numbers like that. Because let's be real, while working longer might sound noble, it also sounds… exhausting. And more importantly, potentially unsustainable. You've hit the nail squarely on the head with the "pay-as-you-go" system. It's like a financial chain letter, but instead of sending a dollar to ten people, you're sending your tax dollars to your grandparents. Which is lovely, in theory! But here's the kicker: Grandma and Grandpa are living longer, and fewer babies are being born. It’s a demographic double-whammy! Imagine a game of musical chairs. When the music stops, there are fewer chairs (active workers) than there are people who need a seat (retirees). Someone's going to be left standing, and in this case, it's often the young...