World’s Richest Man: Raise Retirement Age to 70
Mexican businessman Carlos Slim Helu is, according to Forbes, the world’s richest man. He is “currently worth $65 billion (billion) thanks to his stake in America Movil as well as several real-estate and retail holdings.”
On Monday, at a telecommunications conference in Geneva, he gave advice to the world as to what it should do to shore up the economy:
The world’s richest man has urged struggling nations to lift workers’ retirement age to 70 and privatize as many infrastructure assets as possible to help shore up their economies.
Moreover, countries should have people work until they are older to reflect longer life expectancy rates, Slim reportedly said. He noted the ideal work schedule should be 10-11 hours three times per week for people over 60 to allow them to have more days to “innovate, create and cultivate themselves.”
“We live in the knowledge society, so knowledge and experience should be valued. This is why a person’s work life could be increased.”
Slim also urged the world’s highly-indebted nations to boost earnings by slashing public spending and privatizing their valuable infrastructure assets. This way, governments can attract more private investment that can be diverted to strategic economic sectors to dynamize their economies.
Something about the world’s richest man advising that the retirement age should be raised to 70 makes me throw-up in my mouth a little.
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