No I'm not retiring from blogging, but I did just read a very interesting op-ed on retirement policies in the new york times.
The stats on how little people in the US have saved for retirement are depressing. Many people are facing poverty due to either lack of planning or poor decisions. Yes some people can keep working to ease the blow but many can't. And though I'm generally against government intervention its clear the current system needs to be fixed. Retirement is an area where I feel the ideas of libertarian paternalism are most applicable. If someone doesn't want to save for their retirement that should be their choice, but right now we have an opt-in system - meaning that the default choice is don't save. If the government mandated an opt-in system the evidence suggests people would save a lot more. Under such a system you're automatically enrolled in 401k contributions unless you fill out paperwork to the contrary. Furthermore the government should mandate that all companies offer everyone better low cost investment options and make it more difficult to withdraw money. I follow all this stuff pretty closely and it still feels overwhelming at times! And I manage risk professionally. I can't imagine how someone without all that experience must feel. All this is basically at the heart of libertarian paternalism, let people do whatever they want but nudge them toward better options.