[MCN] Climate change could interfere with retirement readiness

[Lance Olsen]

Climate change could interfere with retirement readiness

Events like wildfires and hurricanes can mean health-related or relocation costs for retirees

Sep 20, 2019 @ 11:23 am
By Bloomberg News

A new global survey about retirees' well-being paints a bleak picture for Americans hoping for an old age free of financial stress. A separate report on the impact of global warming makes it even worse.

The 2019 Global Retirement Index released Thursday by Natixis Investment Managers cites a trifecta of risks for retirees, policymakers and long-term global sustainability: low interest rates, longer lifespans and the high costs of climate change.

The constant struggle to get by on a fixed income is likely pushing down the U.S. score in one of four broad categories the index measures: material well-being.

Severe weather that forces retirees to relocate, even temporarily, can be very disruptive for someone living on a fixed income, said Ed Farrington, executive vice president of retirement strategies at Natixis. The group's report said that "retirees are finding insurance costs escalating as insurers seek to keep pace with climate and weather-related property damage."

https://www.investmentnews.com/article/20190920/FREE/190929994/climate-change-could-interfere-with-retirement-readiness <https://www.investmentnews.com/article/20190920/FREE/190929994/climate-change-could-interfere-with-retirement-readiness>
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IPCC
“Limiting global warming to 1.5°C would require rapid, far-reaching and unprecedented changes in all aspects of society.” 

First sentence of IPPC Special Report on 1.5C Summary for Policy Makers.

<<https://www.ipcc.ch/2018/10/08/summary-for-policymakers-of-ipcc-special-report-on-global-warming-of-1-5c-approved-by-governments/ <https://www.ipcc.ch/2018/10/08/summary-for-policymakers-of-ipcc-special-report-on-global-warming-of-1-5c-approved-by-governments/>>>

Greta Thunberg
"So if we are to stay below the 1.5 degrees of warming limits …, we need to change almost everything.”

"Everyone and everything needs to change."

<<https://www.straight.com/news/1258421/video-swedish-teenager-greta-thunberg-urges-wealthy-people-stop-stealing-others-carbon <https://www.straight.com/news/1258421/video-swedish-teenager-greta-thunberg-urges-wealthy-people-stop-stealing-others-carbon>>>






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