The Rich Are Living Longer And Taking More From Taxpayers

Ben Steverman reports on the recent trends on life expectencies in the United States. Results from a recent study show that the poorest fifth of 50-year-old American men can now expect to live just past 76, six months shy of the previous generation. The richest 50-year-olds should make it almost to 89, seven years longer than their parents’ generation.

According to this new study, there is a widening gap between wealthier and poorer Americans. The richest people in the U.S. aren’t just getting several years of extra life, they’re also reaping a financial reward for their longevity – courtesy of the U.S. taxpayer. These trends will be crucial as the new administration and Congress consider any changes to Social Security, Medicare, and other programs.

While the researchers weren’t prepared to produce specific estimates for women, they were confident that women experienced a “similar if not larger change over time” compared with men, citing a previous analysis. One important result of this 13-year life expectancy gap: Social Security and other government programs, such as Medicare, are becoming a much better deal for well-off Americans.

See full post at: The Rich Are Living Longer And Taking More From Taxpayers – Financial Advisor

Posted by Jacqueline Groccia, Associate Editor, Wealth Strategies Journal.