People are living far longer than the Congress and Senate leaders thought they would when they drafted the Social Security Act. Back then people were lucky to reach even 65 years of age. Many were not likely to go beyond collecting their first few years’ worth of payments. Now we live into our 70s and 80s. That’s one reason Social Security is running short of money. Alan Greenspan, Federal Reserve chairman, mentioned in a recent speech that we may have to cut back Social Security or make the retirement age higher. I wouldn’t be at all surprised if people in their 30s and possibly 40s never get to benefit from the program.
Many of us have reached the age when we are thinking seriously about selling our shops and retiring. At the same time there is a new crop of 30- and 40-something-year-olds who are leaving the corporate world for a variety of reasons, ranging from being laid off or downsized to simply not wanting to deal any longer with the corporate grind. Some are finding their way to the transmission business through brokers who help them locate opportunities commensurate with their abilities and goals.