Perhaps one of the most troubling aspect of the looming ‘R’ problems for many of our more senior citizens is the prospect of having to postpone their cherished retirement plans.
For some this could mean dreams of regular overseas trips to exotic destinations will have to go on hold whereas in other instances a severe curtailment of their current lifestyles could be required.
Increasingly, many are resigning themselves to the prospect of delaying their final exit from permanent full time employment or at least arranging on-going part time positions with employers who often recognise this new employment landscape may in fact help arrest the threatened brain drain with large numbers of baby boomers now quickly approaching the end of productive careers.
Many prospective retirees of course do not have these options and/or are in businesses who are actively seeking to reduce their head counts - certainly the number of staff willingly putting their hands up for early retirement will likely decrease.
The Rudd government has won plaudits from virtually all quarters for its much awaited support of retirees as part of its $10.5b economic recovery package, however most insiders agree the one-off upfront lump sum stimulus is no long term solution to under-funding our increasingly more populous older citizens.
Economists and academics have been following the demographic bulge for decades and increasing life spans, combined with reduced birth rates and low migration levels, signal an emerging black hole of dramatically increasing health costs and drastically reduced taxable income levels.
Against this backdrop it seems only a matter of time before the triggers for age pensions will be raised substantially in Canberra and further incentives to ‘invest’ in depleted superannuation funds will be introduced for the over 60s.
There seems no doubt that the whole world is looking at an era of economic uncertainty which could last anywhere from two to five years before it finally settles down and most observers don’t think it will ever return to the way it was - not for decades anyway.
“May you live in interesting times” is reputed to be the English translation of an ancient Chinese proverb and curse – see
http://en.wikipedia.org/wiki/May_you_live_in_interesting_times
It is reported that it was the first of three curses of increasing severity, the other two being:
• May you come to the attention of those in authority
• May you find what you are looking for
While lots of people seem to spend their whole lives looking forward to finally stopping work, paradoxically I don’t think some of my ‘perennially young’ contemporaries ever really seriously considered retiring ... for them, it now looks like they may get what they were looking for! | 
