Retirement Longevity

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nisiprius
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Re: Retirement Longevity

Post by nisiprius »

jginseattle wrote:The fact fact is that people are living longer.
They are, but this, too, alas, is greatly exaggerated. People seem to confuse huge improvements in infant mortality (which has affects life expectancy at birth) with extensions in the natural life span (which basically hasn't happened). Here's the sad truth: life expectancy at age 65 has been increase at the rate of about one year per decade. There were centenarians a century ago, and there are centenarians today; they are not as rare today as they were then, they still aren't common, not even among women. It's not as if people were suddenly living to 115 and 120. It's not like the George Bernard Shaw play, Back to Methuselah, in which the human life span is suddenly extended to 300 years.
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Wikipedia has a chart that's interesting in this regard. This is the distribution of the death ages of the signers of the Constitution in 1787. The average age at death was 67 years.
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Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
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Jerilynn
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Re: Retirement Longevity

Post by Jerilynn »

nisiprius wrote:
jginseattle wrote:The fact fact is that people are living longer.
They are, but this, too, alas, is greatly exaggerated.
I think it's clear from the data I've seen that the middle-upper class (people who can afford optimal health care) are in fact living longer these days, due to medical improvements. The lower class, not so much.
Cordially, Jeri . . . 100% all natural asset allocation. (no supernatural methods used)
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Cut-Throat
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Re: Retirement Longevity

Post by Cut-Throat »

Jerilynn wrote: I think it's clear from the data I've seen that the middle-upper class (people who can afford optimal health care) are in fact living longer these days, due to medical improvements. The lower class, not so much.
It may be 'Clear', but it's an academic discussion (a few years, but not decades) ...That is nothing that should change any retirement plan. A year or two in the Longevity of a 65 year old changes absolutely nothing for retirement planning purposes. People that change their retirement plans to age 115 are only exercising wishful thinking, not reality.

IOW - It's entirely possible to get Gains in the stock market that average 15% annually.....Just don't plan on it!
Leesbro63
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Re: Retirement Longevity

Post by Leesbro63 »

If we are not living that much longer after all, can we use that knowledge to better allocate how we spend money on senior healthcare?
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Cut-Throat
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Re: Retirement Longevity

Post by Cut-Throat »

Leesbro63 wrote:If we are not living that much longer after all, can we use that knowledge to better allocate how we spend money on senior healthcare?
Yes, but there are people (and religions) that are opposed to it, Bigtime. For example, One statistic is that 70% of all healthcare costs in the U.S.A. are administered in the last year of life.
IOW - The healthcare did not work all that well and mostly were 'hail marys' thrown in the final year of life.
Leesbro63
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Re: Retirement Longevity

Post by Leesbro63 »

I'm dealing with a 99/95 year old aunt & uncle right now. My experience has been that there is a whole industry that feeds on keeping seniors going as long as absolutely possible, even when quality of life is awful. The seniors are serving the system more than the other way around as is supposed to be the purpose of the industry.

We're ALMOST political. :oops: So let's veer back to how to fund our possible longevity. :moneybag
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Cut-Throat
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Re: Retirement Longevity

Post by Cut-Throat »

Leesbro63 wrote:I'm dealing with a 99/95 year old aunt & uncle right now. My experience has been that there is a whole industry that feeds on keeping seniors going as long as absolutely possible, even when quality of life is awful. The seniors are serving the system more than the other way around as is supposed to be the purpose of the industry.

We're ALMOST political. :oops: So let's veer back to how to fund our possible longevity. :moneybag
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Leesbro63
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Re: Retirement Longevity

Post by Leesbro63 »

Ok, but all kidding aside, if your mind goes, you won't remember to join. And what do you if your mind is fine but your body goes?
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Cut-Throat
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Re: Retirement Longevity

Post by Cut-Throat »

Leesbro63 wrote:Ok, but all kidding aside, if your mind goes, you won't remember to join. And what do you if your mind is fine but your body goes?
I said, "If my mind Starts to go'.....I've thought about this.....When the body goes, the decision is much easier.
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Jerilynn
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Re: Retirement Longevity

Post by Jerilynn »

Cut-Throat wrote:
It may be 'Clear', but it's an academic discussion (a few years, but not decades)
Agreed. Well, at this point in time.
...That is nothing that should change any retirement plan. A year or two in the Longevity of a 65 year old changes absolutely nothing for retirement planning purposes. People that change their retirement plans to age 115 are only exercising wishful thinking, not reality.
Perhaps. But, it is entirely possible that in the next 20 yrs that the average lifespan may increase significantly. Or, not.
Cordially, Jeri . . . 100% all natural asset allocation. (no supernatural methods used)
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Jerilynn
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Re: Retirement Longevity

Post by Jerilynn »

Cut-Throat wrote: For example, One statistic is that 70% of all healthcare costs in the U.S.A. are administered in the last year of life.
That sure is a disturbing stat. There is no way we have the financial resources to continue that with an aging baby boom population. I don't know what the answer is, but it's going to bite us big time if it's not addressed.

I wonder what the statistics are for other developed countries. :?:
Cordially, Jeri . . . 100% all natural asset allocation. (no supernatural methods used)
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