Life Expectancy - Saving and Planning

[Cujet]

Many not realizing the life expectancy numbers thrown around are from birth but not from their current attained age.

The SS published numbers are sandbagged due to the way they estimate the oldest ages using medicare data and other technical details. The CDC directly is a MUCH better source as they track death certificates. The SS admin has a VESTED INTEREST in having you delay benefits. Their published numbers reflect this.

In short the average American man died at 73.5 years (estimate increased a bit once the data was in) in 2001 and has increased to hover around 75 to 76 years in the latest data.

TN and MI men die at 70 on average. MA and CT, about 77.

Don't kid yourself here. 'life expectancy' is a prediction. Average age at death is a reality.

 

[Pablo]

I get over $3K month from SS, wife gets around $2K. I mean even for @Zee09 that isn't chicken scratch. We save most of it and invest it in foreign stocks. (jk about the last part)

 

[doitmyself]

I get over $3K month from SS, wife gets around $2K. I mean even for @Zee09 that isn't chicken scratch. We save most of it and invest it in foreign stocks. (jk about the last part)

As long as the young uns keep supporting us baby boomers social security, I don't get all the divisive discussion here. I didn't walk to school every morning, in 3 feet of snow, 5 miles up hill both ways for nuttin'

 

[SC Maintenance]

I get over $3K month from SS, wife gets around $2K. I mean even for @Zee09 that isn't chicken scratch. We save most of it and invest it in foreign stocks. (jk about the last part)

Whats wrong with foreign stocks?

 

[alarmguy]

The SS published numbers are sandbagged due to the way they estimate the oldest ages using medicare data and other technical details. The CDC directly is a MUCH better source as they track death certificates. The SS admin as a VESTED INTEREST in having you delay benefits. Their published numbers reflect this.

In short the average American man died at 73.5 years (estimate increased a bit once the data was in) in 2001 and has increased to hover around 75 to 76 years in the latest data.

TN and MI men die at 70 on average. MA and CT, about 77.

Don't kid yourself here. 'life expectancy' is a prediction. Average age at death is a reality.

Maybe you miss-read the S.S. numbers? Chart?
It aligns with what you posted. AVERAGE American man dies at just shy of 76 years old.

However each year you live, increases your time on this earth. Because men start dying from birth.
So at lets say you made it to 65 that is 65 years of men dying out of the way, so the new average from that point forward for that age group is 83 years old. The average man at 65 years old will live to 83.
There is no government scandal. It's just math and based on fact. Each year that you live, starts a new average for that age group that you are in.
If you look closely at the chart it will make sense.

 

[SC Maintenance]

The SS published numbers are sandbagged due to the way they estimate the oldest ages using medicare data and other technical details. The CDC directly is a MUCH better source as they track death certificates. The SS admin as a VESTED INTEREST in having you delay benefits. Their published numbers reflect this.

In short the average American man died at 73.5 years (estimate increased a bit once the data was in) in 2001 and has increased to hover around 75 to 76 years in the latest data.

TN and MI men die at 70 on average. MA and CT, about 77.

Don't kid yourself here. 'life expectancy' is a prediction. Average age at death is a reality.

The CDC numbers are not actuary numbers. The average life expectancy is from birth and includes everything. 12% of people pass away before 65. So if you happen to make it to 65, your already in a sample that will overall have a higher average life expectancy because you have removed those pulling the average down.

The point being, the older you get, the longer your likely to live.

I agree however with living for the now - because no individual ever knows.

 

[supton]

I agree however with living for the now - because no individual ever knows.

Except you have to live for tomorrow also. Saving and investing, and then there's eating properly along with exercising properly. Living for the moment can be ruinous if not kept to short bursts and "all things in moderation".

How one balances that with all the attendant stress that life brings is beyond me (don't look at my waist line!).

 

[SC Maintenance]

Except you have to live for tomorrow also. Saving and investing, and then there's eating properly along with exercising properly. Living for the moment can be ruinous if not kept to short bursts and "all things in moderation".

How one balances that with all the attendant stress that life brings is beyond me (don't look at my waist line!).

Probably stated incorrectly. About 15 years ago for reasons that are unimportant now I realized I was wasting my life worrying about the future. I started making way more time for my children, and started enjoying the little things. This morning I waited on the step while I watched a bumble bee go from flower to flower. I try to walk every day because it makes me feel better. Same with eating correctly.

I also work and put money in savings every day - but those are things that simply happen, there not my focus.

The 4 burner theory prioritized if you will.

 

[Pablo]

Whats wrong with foreign stocks?

Nothing inherently.

Just the ironically irony. Using boomer geezer welfare bux to invest in China.

 

[JeffKeryk]

Probably stated incorrectly. About 15 years ago for reasons that are unimportant now I realized I was wasting my life worrying about the future. I started making way more time for my children, and started enjoying the little things. This morning I waited on the step while I watched a bumble bee go from flower to flower. I try to walk every day because it makes me feel better. Same with eating correctly.

I also work and put money in savings every day - but those are things that simply happen, there not my focus.

The 4 burner theory prioritized if you will.

Steve Jobs realized something like that after he got sick. Once you get to a point, don't kill yourself going for more. Something like that.
At his famous Stanford Commencement speech Jobs said, “Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life."

• Morning question: Jobs looked in the mirror every day asking if he would do what he was about to do if it were his last day.

• Course correction: If the answer was "no" too many days in a row, he knew he had to change something.

Now, perhaps this is part of maturing; part of the life cycle? Above my pay grade. Even my father, who was not a nice man, told me, "I worked too hard. Now it's too late. I should have taken your Mother to Europe."

 

[ripcord]

A couple different surveys showed about 40% of people under 60 believe (understand really) SS is a ponzi scheme. Vs the majority of older people do not.

This is why I don not believe it will have the support going forward most here believe it will, because the fundamental social contract is being broken in many ways for young people - housing, jobs, etc. Just one more.

The problem is that the USA is so narrowly divided that a small shift in voting patterns by disgruntled benefit recipients will completely shift the balance of power... Which makes it instant death for any politician who dares touch it.