Being honest about retirement
via Andrew Sullivan
I said a couple of weeks ago on Citizen A that our politicians needed to start to be honest about retirement and retirement savings. This comment by David Von Drehle begs politicians on both sides to get “honest with younger Americans. The sentiment holds true here in New Zealand too.
No matter who is in charge, health care spending is not going to be able to rise indefinitely at twice the rate of inflation. Cost will, inevitably, become “a measure of efficiency,” whether the government applies that discipline directly or through vouchers. Call it rationing, call it “bending the curve”—whatever. It means that some things that would be paid for under the current system will not be paid for in the future. If younger Americans want those things, they will need to have money socked away to pay for them.
Labpour decries the changes to Kiwisaver but I can see why National made the changes. Instead of the burden for savings resting upon the government, it rest more fully on the individual. This the the right and sensible thing to do. Labour’s solution is just a conjuring trick, placing the burden upon all taxpayers to save for those with Kiwisaver accounts.
People must learn once again in this country to look after themselves rather than expect the government to look after them. If you expect the government to look after you then you are certainly going to have a very, very poor retirement.