BlackRock CEO Larry Fink said America could dodge a ‘retirement crisis’ by encouraging people to work longerMoneywiseSeptember 27, 2025 at 10:16 PM0 Copied
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BlackRock CEO Larry Fink caused quite a stir when he suggested America could dodge its looming “retirement crisis” by encouraging people to continue working past age 65.
The billionaire, who chairs the world’s largest asset management firm, kicked off his 2024 annual letter to shareholders by telling his readers it is “time to rethink retirement.”
He raised the point that more Americans are retiring and their retirements are increasing by length. This, he claims, is having a “massive impact on the country’s retirement system” — specifically the nation’s Social Security coffers, which are quickly running out of money.
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“What’s the solution here?” Fink pondered in his letter. “No one should have to work longer than they want to. But I do think it’s a bit crazy that our anchor idea for the right retirement age — 65 years old — originates from the time of the Ottoman Empire.”
It’s not fair — but some don’t have a choice
Labor economist Teresa Ghilarducci, a renowned thought leader on U.S. retirement issues, slapped down Fink’s suggestion in a recent interview with Bloomberg’s Sonali Basak.
Ghilarducci thinks people need to dive deeper into the data around American life expectancy and how that relates to working longevity.
“Not everyone is living longer,” she stressed. “There is a slice of the population that have had good healthcare [and] have had the kinds of jobs that enhance their health and their wellbeing and their skills. They’re living longer.
“But there are some parts of our economy, of our America, where actually the longevity is going down. Deaths of despair, the suicides, the opioid addiction [and] even the kinds of jobs that people have are shortening their lives.”
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Valid reasons for retirement
One part of America’s so-called “retirement crisis” that Ghilarducci thinks experts — “including Larry Fink” — overlook is the fact that “most people cannot decide when they retire.”
According to a 2018 Schwartz Center for Economic Policy Analysis report, 52% of older workers claimed they were forced into involuntary retirement.
Ghilarducci cited this stat, saying that older Americans are often “forced to retire” because of health issues — like bad knees, metabolic disorders and stress — or to take care of their aging spouse.
“This idea that workers can just decide to work longer is a myth because most people cannot decide whether or not to work or not,” she stressed.
While you may not have much choice over your employment later in life, there are things you can control, such as: how you manage your finances, when you decide to take Social Security, and how you save and invest your money so that you have enough to live off during your retirement.
To tackle these choices, it’s important to first ensure your finances are in order. This begins with creating an emergency fund to ensure that unexpected expenses don’t cause you undue financial stress.
To get started, a high-yield account, such as a Wealthfront Cash account, can be a great place to grow your emergency savings, offering both competitive interest rates and easy access when you need funds.
With a Wealthfront Cash account, you could earn up to 4.25% APY on your uninvested cash for your first three months (0.50% APY boost on top of the 3.75% base variable APY) provided by program banks. That’s over ten times the national deposit savings rate, according to the FDIC’s September report.
With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, you can ensure your funds remain accessible at all times. Plus, Wealthfront Cash account balances of up to $16 million are insured by the FDIC.
Read more: Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
Preparing for the future
While you may not have much choice over your employment later in life, there are things you can control, such as: how you manage your finances, when you decide to take Social Security, and how you save and invest your money so that you have enough to live off during your retirement.
You can also benefit from a retirement savings vehicle that uses the strength of the gold market to potentially give you strong returns.
A gold IRA is one option for building up your retirement fund with an inflation-hedging asset.
Opening a gold IRA with the help of Goldco allows you to invest in gold and other precious metals in physical forms while also providing the significant tax advantages of an IRA.
With a minimum purchase of $10,000, Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver.
If you’re curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today.
Real estate investing in retirement
You can continue to grow your nest egg, even after you’ve retired, with smart investments. Many retirees find that they can benefit from the hot real estate market — and you don’t need to buy a property to diversify your portfolio.
With First National Realty Partners, accredited investors can invest in grocery-anchored commercial real estate properties and gain the potential for quarterly passive income.
FNRP has developed relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods, and provides insights into the best properties both on and off-market.
FNRP’s team offers white-glove service, managing every step of the investing process, so you can engage with experts, explore available deals and easily make an allocation, all in one personalized portal.
Make sure your family is secure
If you’re worried about potential impacts to the availability of Social Security on your retirement, ensure you’re doing everything you can to save for your future.
Whether it’s you or your other family members, having financial security guaranteed by life insurance can mitigate the financial impact of losing a loved one.
By opting for term life insurance through Ethos, you can help ensure that your family will be taken care of when you’re no longer there.
With Ethos, you can secure coverage in just 10 minutes online or via phone and approval is guaranteed regardless of any pre-existing conditions.
Ethos also gives you the flexibility to select coverage amounts ranging from $2,000 to $100,000.
With fixed rates, you can rest assured that your rates will never go up on your policy. Ethos offers a 30-day money-back guarantee if you aren’t completely satisfied with their services.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
