In reality, the difference is 11 years (12 additional years for men and 10.1 additional years for women). On the whole, our users estimated that the richest 10% of society would have a life expectancy 12 years longer than the poorest 10%. “It will surprise nobody to learn that life expectancy increases with income.” - Michael Specter, 4/16/16, The New Yorker Topic 3 in Fair Game? asked users to think about exactly this question and to estimate how income is related to life expectancy and what that relationship should be in a fair world. In addition to the economic considerations, there is a psychological and perhaps even moral factor that comes into play when thinking about how long we might expect to live in relation to our financial status. According to the Pew Research Center, use of these government benefits programs is “virtually universal ( 97% ) among those ages 65 and older-the age at which most adults qualify for Social Security and Medicare benefits.”ĭifferences in life expectancy between the rich and the poor can mean that more affluent Americans receive hundreds of thousands of dollars more in benefits that those who are less well off. In the case of retirement planning, life expectancy is important in relation to the benefits like Medicare and Social Security that people earn during their working years. However, there are many reasons people should consider just how long they might live. Confronting our mortality is not an easy task for most people.
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