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The world’s richest man says everyone should keep working into their golden years for the sake of the greater good.

Billionaire Carlos Slim said that boosting the retirement age to 70 would help to prop up the world’s struggling economies, according to Mexican press reports cited byForbes. The Mexican telecom mogul argued that the current retirement age was put in place during a time when the typical employee worked a more physical job and people died at an earlier age.

“We live in the knowledge society, so knowledge and experience should be valued,” he said at the Geneva telecommunications conference, according to Forbes. “This is why a person’s work life could be increased.”

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