Friday, April 29, 2022
Earlier this month, Forbes ran this article, American Elders Are Short-Changed 5 Years Of Healthy Retirement, which explains that
America’s elders die sooner and are sicker than their counterparts in other rich nations. American elders also must work longer than their cohort abroad. These trends mean that Americans get fewer years of healthy retirement life than elders in comparable wealthy nations—five years less, in fact.
One reason for this big gap in healthy retirement is the pressure for American elders to work longer. Among major rich nations, Americans work longer than anyone except the Japanese, who retire at age 67.9 while Americans work until age 65 on average; but the Japanese live longer, so experience more healthy retirement time.
Consider this from the author: "It's sad to know that America’s de facto plan for retirement is working longer and dying sooner. This inequality of retirement time is caused by the crossing of two swords: the growing inequality of retirement wealth and the growing inequality of longevity. These inequities are deeply connected. If people who die younger could retire earlier than those with longer and healthier lives, retirement time could at least be distributed more equally."
The full article discussing life expectancy in the U.S. and abroad, as well as work histories, is available here.