Living Longer The Paradox of Health and Retirement

Few people my age talk about waiting for the grim reaper to show up at their door. Conversely the subject is daily conversation for many of my clients who are older, have several chronic health conditions and are just tired of living. Individuals over 100 years of age in the U.S. are increasing and currently number about 84,000.

Many never planned to live this long, nor did the social security system expect to provide for them for another 35-40 years after retirement Statistics show that we are simply living longer. And while the main concern is funding our own retirement, many are just now considering the need to support aging parents and siblings. An article in the Chicago Tribune reports that 25% of adults worry about having to support their siblings and the same adults, 40%, worry about having to support their parents.

This substantiates the argument for extending retirement age to or beyond age 70 considering that average life expectancy today is around 78. This means that 10% of life would be spent in retirement versus 25% if retirement occurs at 64 and we live to 85. I have friends in their late fifties who worked for the school system and retired early. They are now questioning their decision as the value of their pension has dropped significantly and the standard of living they expected has virtually disappeared.

Scientists are working to extend healthy middle age from 60 to 80. Imagine how this shift in retirement age would solve the social security and pension disaster we are currently facing. Aubrey de Grey, a U.K. biogerontologist, is researching the cycle of metabolism that produces cell damage. "The hope of successful treatment dwindles as the patient ages. Geriatrics is a short term strategy slowing down the rate at which damage converts into disease." His strategy instead is to limit the damage to cells, indefinitely postponing the corresponding disease.

This leads to two questions. Would you rather retire at age 70 if you could live longer and be healthier or retire at 60 less healthy and die earlier? At present, much of this depends on the lifestyle we've lived thus far and in part on genetics. However with research perhaps there is hope for us or at least for younger generations to live longer and healthier.

Sources:
1) The Chicago Tribune, Your Money Section, Article 08/24/08.
2) Aubrey De Grey.

Copyright 2011 Pamela D. Wilson, All rights reserved.

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