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advances in medicine
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We Will Live Longer But May Have No Money
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We Will Live Longer But May Have No Money

The Problem that is currently in the News

Experts are now saying that whilst we will live longer because of the amazing advances in medicine, the bad news is that pensioners could run out of money as a result of a retirement timebomb this is going to cause.

Advances in Medicine.

I watched an amazing example of the advances in medecine today. Alzheimers - what a debiliting disease? Now they have discovered that this is mainly due to an area of the brain which no longer produces the chemicals we need to stop the disease advancing. They showed on TV a Lady who was unable to control her body physical movements in any way.

The experts have found that by injecting directly into the brain a virus, this will stimulate the area of the brain which has stopped functioning to react and start functioning again. Doesn't stop the disease per se but certainly they were able to show the lady almost having a normal life with no evidence of the bodyphysical movements she had before. Advances like these we would all stand and appluade wouldn't we? Imagine if your parents have Alzheimers and you were able to do this for them.

The effect of increasd logevity.

Now however the fact we are able to "prolong" peoples lives, and I wholeheartedly support this, means we now face the problem of running out of money. The IMF are quoted in UK newspapers as saying that increased longevity could see the cost of retirement increase by 50% for both individuals and the Government. Think about that. Many folks have little to live on as it is, multiply the cost by two and there are going to be some severe challenges.

The Pensions and Social Support Issue.

Pension experts forecast that a person working now and aged 37 will have to retire at 70 and those who are being born now will have to work till age 80. This in turn means that the overall working population is going to increase and stay at a higher level for a longer period of time. In turn this means that unless there is employment for all, the social schemes in countries will drown in requests for money. This is not a pleasant outlook and if true, then for folks of my age this means that my children will have difficulties and in turn their children will have major problems. What happens to the generation after them?

What is going to be done about the problem?

So we are faced with a big problem but what are we as a society going to do about it? Do we rely on our children to look after us in old age as they do in the Far Eastern Cultures? Do we lobby Governments who let's face it are not known for longer term visions, to do something? Or does this problem like many we face and have faced in the past, as a society/world get left until it is too late and then we pick up the pieces somehow? Wouldn't it be reasonable to come together to sort out these types of problems or am I dreaming? We have not yet been able to extinguish famine and war in this world, so what happens when the industrialised nations find the problem we see above on their doorsteps?

Let me know what you think, please.

Street Talk

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