BlackRock’s Larry Fink sees Social Security crisis, says 65 retirement age ‘a bit crazy’

BlackRock Chair Larry Fink said capital markets can help solve a crisis brewing around the ability of Americans to afford retirement as lifespans elongate, and that the government can provide a basic safety net.

In his annual letter to shareholders of the investing company overseeing $10 trillion in assets, Fink called the decreasing ability to retire in a financially sound way one of the biggest economic challenges of the mid-21st century. He said access to investing can help solve this conundrum, while also pondering if the expectation for everyone to...