In many countries, although people work hard throughout their life, they still do not have enough money to live comfortably in their retirement. Identify some causes of this retirement problem and suggest possible solutions
People take top priority over working in their lives; however, their retirement still have to confront with several problems because the root cause is money. Although the government provides them with sufficient support, these policies do not seem to improve their lives. This essay will outline the possible solutions to these problems and evaluate the potential effectiveness.
One of the most striking problems facing people who reach the retirement age is the rising life expectancy. In fact, the increase in life expectance means that government pensions have to be allocated to a huge number of retirees, resulting in difficulties in welfare pensions. According to the latest WHO data, life expectancy in Japan was ranked first in the world. In order to solve this problem, the government could rise retirement age for people who managing position or intellectual for take full advantage of grey matter, for instance, the government should create job for other retirees. For example, a PhD can become an adviser for companies or government organizations. This hopefully encourage more retirees with a good sense of responsibility for social and family.
Another worry issue worth mentioning is mismanagement of personal finance. In practice, the market prices vacillate influencing and a numerous people on below average income find it difficult to save money. When the price of gasoline and diesel is increased, the price market is also increased but their salary is not adjusted. In this situation, one suggestion, which would help enormously, is to increase the interest for the people on below average income, which encourages them opening a deposit account in the bank, thereby, people could live comfortably when they are retired.
To sum up, although it is clear that the retirees are linked with an array of problems, it is undoubtedly possible to start to tackle these downsides, and improve the welfare programs for the elder. Nonetheless, given that policy makers fail to in the long run, retirees will have to continue suffering endless privations in their twilight years.