Retirement Advisor: Prince Harry And China's Retirement Crisis (Podcast)

by: SA For FAs
Summary

Britain’s Prince Harry has announced that he and his wife Meghan plan to limit to two the number of children they bring into the world, citing environmental considerations.

That of course is their personal decision, but interestingly, for commoners, having multiple children has historically been what is referred to today by financial advisors as a retirement plan.

Whereas wealthy royals, and affluent Westerners, can afford to have small families, China’s Prince Harry-like social experiment over the past four decades is generating a retirement crisis of massive proportions.

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Britain’s Prince Harry has announced that he and his wife Meghan plan to limit to two the number of children they bring into the world, citing environmental considerations. That of course is their personal decision, but interestingly, for commoners, having multiple children has historically been what is referred to today by financial advisors as a retirement plan.

This podcast (5:26) relates that a Prince Harry-style social experiment has upended Chinese society on a massive scale, where children remain an important part of retirement security.