Etc...

Do as I say, not as I do

It isn't only in the US that investment professionals, economists, and other learned people worry about too little money being saved for retirement. It seems that's a concern in Europe, too. Why, just last week, federal Finance Minister Peer Steinbrueck warned in a magazine interview that his fellow Germans will confront rising costs in the decades ahead – particularly for healthcare. Without a doubt, he told the publication, "That means ... we must abandon a [vacation] to provide for later." Alas, his words did not go over well with the national tourism association. Tourism is a strong pillar of the German economy and a reliable generator of tax revenue to the state. Harrumphed the managing director of one company in the travel business: "Perhaps [Steinbrueck] needs a holiday, which would help him to ... come back with better ideas." There's another side to the dispute, too. As a public servant, Steinbrueck enjoys a generous pension, which in theory should better insulate him from rude surprises in his retirement years than may be the case for ordinary Germans. Oh, and it also should be noted that the interview that brought this whole situation to light came just after Steinbrueck returned ... from his own summer vacation.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK