Dave’s Diary: Who Can Afford the Luxury of Growing Old
Pop Culture media tells us 70 is the new 30….no really, I read that….and now researchers at the Max Planck Institute for Demographic Research in Germany sort of prove that, saying our ancestors had the same odds of dying at age 30 as men today face at age 72.The most advances in longevity have actually been made in the past 100 years. However, living longer does have at least one downside: When you died at 30 you didn’t have to be concerned about outliving your income! Making our savings last through a 30-year retirement is difficult at best and impossible at worst. And here’s a newsflash fresh out of Cyprus, governments worldwide are not prepared to make up the difference. What’s that old saying? Live fast, die young and leave a good looking corpse?
The International Money Fund reported in 2012 that if the average life span increased just three years by 2050, the cost of aging would increase by 50 percent. (Netscape)