BlackRock CEO Larry Fink said America could dodge a ‘retirement crisis’ by encouraging people to work longer

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0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',r=n._store.getNotifications(),a=n._generatePanelMarkup(o,r),i.innerHTML=a;break;case"error_panel":a=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=a}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(D))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),U=function(){function e(t,n,o){L(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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t,n=e.getConfig(),o={ybar:document.getElementById("ybar"),searchInput:document.getElementById("ybar-sbq"),buttonBar:document.querySelector(".".concat(jt["sa-btn-bar"])),searchForm:document.getElementById("ybar-sf"),searchBoxIcon:document.querySelector(".".concat(jt["searchbox-icon-uh3"])),searchBoxPlaceholder:document.getElementById("ybar-smartphone-searchbox-placeholder"),searchBoxBackButton:document.getElementById("ybar-search-back-btn"),shopsButtonsWrap:document.querySelector(".".concat(jt["shops-buttons"])),categorySelect:document.getElementById("shops-category-select"),selectedMerchantInput:document.getElementById("selected-merchant-input"),selectedMerchantClearButton:document.querySelector(".".concat(jt["selected-merchant-clear-button"])),submitSearchBtn:document.getElementById("ybar-search"),clearSearchBtn:document.getElementById("ybar-sbq-x"),searchGradientBorder:document.querySelector(".".concat(jt["search-border-gradient"]))};if(function(e,t){var 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Gt(e,o.submitSearchBtn,m(m({},Kt),{label:null!==(t=n.i18n.root.SEARCH_TOOLTIP_WEB)&&void 0!==t?t:"Search the web",containerClass:"".concat(jt.tooltip," ").concat(jt.tooltip__web),tooltipParentElm:o.clearSearchBtn.parentElement}))}));var Jt="_yb_tdk4ba",Vt="_yb_hkd17a",$t="_yb_rtzclf",Xt="_yb_tdbhj6",Zt="_yb_de52ef",Qt="_yb_9hwrey",en="_yb_slc8ta",tn="_yb_bf0svp",nn="_yb_hjic9z";be("ybar-mod-adaptivenav",(function(e){var t=document.querySelector("#ybar-l1-more-menu ul"),n={moreDropDown:document.querySelector(".".concat(Jt)),moreBtn:document.querySelector(".".concat(Vt)),wrap:document.querySelector(".".concat(Xt)),moreSectionTitle:document.querySelectorAll(".".concat(Zt)),editionsCtaBtn:document.querySelector(".".concat(Qt)),editionsMenu:document.querySelector(".".concat(en)),closeBtn:document.querySelector(".".concat(tn)),moreMenuDropDownHeight:t?"".concat(t.offsetHeight+48,"px"):"0"};new 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Some or all links contained within this article are paid links.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.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howDave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAPI'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast)“What’s the solution here?” Fink pondered in his letter. “No one should have to work longer than they want to. But I do think it’s a bit crazy that our anchor idea for the right retirement age — 65 years old — originates from the time of the Ottoman Empire.”Labor economist Teresa Ghilarducci, a renowned thought leader on U.S. retirement issues, slapped down Fink’s suggestion in a recent interview with Bloomberg's Sonali Basak.Ghilarducci thinks people need to dive deeper into the data around American life expectancy and how that relates to working longevity.“Not everyone is living longer,” she stressed. “There is a slice of the population that have had good healthcare [and] have had the kinds of jobs that enhance their health and their wellbeing and their skills. They’re living longer.“But there are some parts of our economy, of our America, where actually the longevity is going down. Deaths of despair, the suicides, the opioid addiction [and] even the kinds of jobs that people have are shortening their lives.”If you’re unsure which path to take amid today’s market uncertainty, it might be a good time to connect with a financial advisor through Advisor.com.This online platform connects you with vetted financial advisors best suited to help you develop a plan for your new wealth.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,676.21 +11.85 (+0.18%)Dow 3046,352.18 +36.91 (+0.08%)Nasdaq22,695.88 +64.41 (+0.28%)Russell 20002,449.11 +0.34 (+0.01%)VIX15.90 +0.45 (+2.91%)Gold3,760.50 +54.70 (+1.48%)PortfolioSign in to access your portfolioSign inTop gainersMTSR Metsera, Inc. 54.00 +20.68 (+62.06%)QMMM QMMM Holdings Limited 104.18 +21.34 (+25.76%)DGNX Diginex Limited 16.93 +3.33 (+24.49%)BBAR Banco BBVA Argentina S.A. 9.54 +1.35 (+16.50%)GGAL Grupo Financiero Galicia S.A. 30.88 +4.43 (+16.76%)Top losersQUBT Quantum Computing Inc. 19.94 -3.34 (-14.33%)MENS Jyong Biotech Ltd. 56.91 -8.72 (-13.28%)COMP Compass, Inc. 8.34 -1.06 (-11.27%)BMNR Bitmine Immersion Technologies, Inc. 55.92 -5.37 (-8.77%)FORD Forward Industries, Inc. 27.73 -2.72 (-8.91%)Most activeOPEN Opendoor Technologies Inc. 9.09 -0.48 (-5.02%)SNAP Snap Inc. 8.84 +0.68 (+8.27%)PLUG Plug Power Inc. 2.4491 +0.2691 (+12.34%)BBAI BigBear.ai Holdings, Inc. 6.73 -0.12 (-1.70%)INTC Intel Corporation 29.26 -0.32 (-1.08%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersMTSR Metsera, Inc. 54.00 +20.68 (+62.06%)TSLA Tesla, Inc. 442.49 +16.42 (+3.85%)ORCL Oracle Corporation 321.36 +12.70 (+4.11%)TEM Tempus AI, Inc. 89.71 +1.47 (+1.67%)PATH UiPath Inc. 13.08 +1.20 (+10.15%)Top economic events