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Richard's Remarks


I often listen to Charlie Rose on Bloomberg TV. A few nights ago Charlie interviewed Laurence Fink, CEO of the giant Blackstone Group. Fink said he was most worried about the age change in the US. He said that most of the programs in the US were set up on the thesis that Americans were quite old in their 60s, and that after 60 Americans were close to the dying age. But now, said Fink, Americans are very commonly living into their 80s and 90s. And they don't have the money to support themselves as they move into their new age ranges. Even if you have a million and a half dollars now, that's not enough to support yourself into your 80s or 90s -- not with what you can get on interest rates today. What good is a million and a half dollars (which most Americans don't have) at 1% ... Log in or subscribe to continue reading.

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