France raised its pension retirement age by a mere two years, from 60 to 62, and people took great umbrage to that. Protests broke out in the street, and union leaders said they'll strike. One-third of the nation's TVG fast trains were expected to be canceled.

We expect other European nations will raise their retirement thresholds, perhaps sooner than later. While the default retirement age in the U.S. has long been considered to be 65, in recent years, the norm has ticked up to 67 because that is the year Social Security benefits max out.

By the time younger American Baby Boomers reach retirement age, budget contraints combined with scientific marvels and far longer life expectancies will undoubtedly push the norm up to 70 or above.

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