Richest Live 14.6 Yrs Longer, the Gap Is Widening
I recently ran across a Stanford University study that analyzed 1.4-B US federal tax returns along with Social Security mortality data to determine the relationship of income to life expectancy.
Here are the Key findings.
1st, higher income is associated with greater longevity. Among men, the richest 1% live an average of 14.6 years longer than the poorest 1%. The wealthiest women live 10.1 years longer than the poorest.
2nd, the gap is growing wider. Between 2001 and 2014, life expectancy grew 2.34 years for men and 2.91 years for women in the top 5% of the income distribution. Men and women in the lowest 5% income group had only a negligible change in the same period.
Some have jumped on this data as a reason why we must do something about income inequality. The rich are not just getting richer, they are living longer, too.
Is it a surprise that people with lots of money live longer?
They tend to have healthier diets, get better healthcare, live in safer neighborhoods, and avoid hazardous careers.
I am surprised the difference is only 2–3 years. And not sure the government can do anything to change this.
The Upper-class gained 2–3 years of life in just 13 years
The real surprise to me was how quickly lifespans can increase. In a single 13-yr period, those in the upper income levels managed to generate an additional 2-3 yrs of life.
The lifespan increase also suggests that the kind of life extension that Patrick Cox discusses in his forthcoming book is not so outlandish.
If one group can, in just a little more than a decade, add 2–3 yrs to its lifespan without consciously trying, imagine what concerted efforts could do.
Such efforts are underway right now in labs all over the globe.
The only way to close the gap and prevent the coming retirement crisis
It is perfectly reasonable to think that the next 10 yrs will bring advancements that add many years to our lifespans. Medical cures for obesity, heart disease, and cancer are all foreseeable within the next 10 yrs, though lifestyle will continue to be a Key issue.
Advances in medical biotech will lead to a radical extension in lifespans and healthspans.
As with all new technologies, they will be expensive in the beginning. They will not be available to everyone, everywhere.
I expect life extension technology to propagate fast, as it makes economic sense to keep people alive and productive as long as possible. This will be doubly true in a world with fewer young people.
Further, much of the new life extension technology is going to have the same scalability as digital technology had. We all know how phones and computers get better and cheaper. Medical care is beginning to ride the same technological wave as our favorite digital devices.
Having said that, we must recognize that extending lifespans will aggravate the Graying World problem.
If we persist in saying that everyone can retire at 65 or 70, while extending typical lifespans to 100 or more, the dependency ratio will spike. Workers will be supporting their parents and multiple layers of grandparents.
That formula obviously will not work, but it will not have to if we can make tomorrow’s 80-yr-olds as healthy as today’s 60-yr-olds. People might be able to keep working until 85 and be happy about it.
Biotech expert reveals 3 cutting-edge therapies and their regenerative effects on aging cells
Patrick Cox’s new report looks at 3 promising anti-aging treatments biotech firms are currently working on, which could prove to dramatically extend our lifespans.
Click here to get your copy: http://www.mauldineconomics.com/landing/the-twilight-therapy-to-rejuvenate-your-cells
By John Mauldin
Paul Ebeling, Editor