CEO of Blackrock Warns of Looming Global Retirement Crisis 📉

Larry Fink, CEO of BlackRock, warns of a global retirement crisis. As the world’s largest asset manager with $10 trillion under management, more than half of these assets are managed for retirement. Fink is concerned the aging population is putting stress on the retirement safety nets, such as social security. As we focus on helping people live longer lives with the help of medical breakthroughs such as weight loss drugs, this will only exacerbate the problem. So much time and money are spent on how to live longer healthier lives, and only a fraction of that is put into helping people to actually afford to live longer lives. The solution is getting more people investing more of their money, in order to provide a comfortable retirement according to Fink. “No other force can lift more people from poverty or improve quality of life quite like capitalism” he wrote. In his annual letter to shareholders Fink wrote two of the biggest economic challenges in the mid-21st century will be providing secure retirements and building the massive amount of infrastructure needed for digitization and energy.

Capital markets will be the answer to both. Due to increasing government debt, Fink has bet on the demand for private financing of major infrastructure projects, through the purchase of fund manager Global Infrastructure Partners for $12.5 billion. Will you heed his advice and start investing for your retirement now?

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