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Why work so long?
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<blockquote data-quote="OLDMAN3" data-source="post: 1504535"><p>Actually at age 65 the average life expectancy is 84 (78 is expectancy at birth), so your point is even stronger. My wife's parents have now outlived their well planned out retirement savings at age 85 and age 89. He had multiple heath issues (including several heat attacks) in his 50s and did not expect to live past 75. The amount of savings required for a secure retirement at age 50 is enormous if you plan for death at age 90. We have all seen with the Central States pension debacle that pension security is a tenuous thing. Also Social Security insolvency is projected for 2024-2033, and Medicare for 2026. Guess why Boomers are not retiring...</p><p></p><p><a href="http://townhall.com/tipsheet/kevinglass/2013/07/07/report-social-security-bankruptcy-coming-faster-than-expected-n1634669" target="_blank">http://townhall.com/tipsheet/kevinglass/2013/07/07/report-social-security-bankruptcy-coming-faster-than-expected-n1634669</a></p></blockquote><p></p>
[QUOTE="OLDMAN3, post: 1504535"] Actually at age 65 the average life expectancy is 84 (78 is expectancy at birth), so your point is even stronger. My wife's parents have now outlived their well planned out retirement savings at age 85 and age 89. He had multiple heath issues (including several heat attacks) in his 50s and did not expect to live past 75. The amount of savings required for a secure retirement at age 50 is enormous if you plan for death at age 90. We have all seen with the Central States pension debacle that pension security is a tenuous thing. Also Social Security insolvency is projected for 2024-2033, and Medicare for 2026. Guess why Boomers are not retiring... [url]http://townhall.com/tipsheet/kevinglass/2013/07/07/report-social-security-bankruptcy-coming-faster-than-expected-n1634669[/url] [/QUOTE]
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