Is retirement inevitable and sustainable in modern times?
Legally, retiring refers to your tax status and access to your retirement savings in terms of the post-retirement investment options available.
Historically, we did not live long enough to consider not working. In the 18th Century, life expectancy was 35, rising to 50 after Alexander Fleming discovered penicillin in 1928. Then, saving was onerous as economies were dominated by a subsistence lifestyle. Feudal taxes were paid to maintain central powers and systems for saving were rudimentary.
The person credited with ‘inventing’ retirement as we know it is Chancellor Otto Von Bismarck in 1883, but his objective was to increase his popularity and stem the rise of Marxism in Europe. He announced that he would pay a pension to any citizen of the age of 65. This was past the life expectancy of the population in the 1880s and therefore a safe bet ...
Denne historien er fra January 2018-utgaven av Skyways.
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Denne historien er fra January 2018-utgaven av Skyways.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Fit For Purpose
Changing legislation offers a range of opportunities in the health sector
Good For Grinches
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A Paradise In The Wilderness
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Trekking With Teens
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Infected With The Travel Bug Again
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Star attraction
Greater Kruger lodge makes a spectacular first impression
Palala position
The effect of the past on the present is positively felt in a luxury Waterberg lodge
Can the spam!
Irrelevant advertising will almost certainly turn consumers against your product
