4 ms·
so if you finally gave up work at 73 that's only an average of 5 years you need to live without an income Not necessarily. A couple of reasons: * Life expecta
by donaldc 16y ago
so if you finally gave up work at 73 that's only an average of 5 years you need to live without an income
Not necessarily. A couple of reasons:
* Life expectancy in developed countries has been increasing by well over a year every decade.
* Life expectancy for someone at age 73 is notably higher; remember that the average of 78 includes everyone who has died before age 73.
Personally, I come from comparatively long-lived ancestors. I have no desire to find out when I'm 78 that I'm likely to live to 90 or 100, but have no money left.
- sbov 16y agoYeah, the fact that life expectancy went up by a year because fewer newborns died doesn't have any effect on you when you're already 25. This is why I find the life expectancy that people quote pointless as a stat when it comes to personal planning. What I really want to know is: when looking at people who have made it to my age, what is the life expectancy?
- sokoloff 16y agoIt's probably higher than most people think (which is scary for their retirement prospects, but otherwise great). If you're 70 in the US right now, you're a favorite to see 80. http://www.ssa.gov/OACT/STATS/table4c6.html http://www.ssa.gov/OACT/STATS/table4c6.html
- dotBen 16y agoYou should definitely get a good pension then. But remember that pension funds can also run out of money (depending on the type of pension you have, etc) I think what I was trying to communicate, perhaps not succinctly enough, was that I would rather work a lot further into what most deem 'retirement years' and then live off incomes from investment for a shorter period of time towards the end. Ok that means I have to had had success building those investments but most of us are on HN cos we're entrepreneurial and I've not done too bad so far (I'm 29).