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Old 12-04-2018, 08:12 AM
 
Location: Tennessee
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https://www.nytimes.com/2018/10/23/n...mentsContainer

I was rereading the above article from the NYT this morning. Though it's sensational, IT/tech workers are extremely vulnerable to ageism and being thrust out of the workforce. To some extent, there is a significant bias against older workers throughout the labor force. Many folks get pushed out of "career oriented" work sometime before 60. Finding a new job in your 50s, or even 40s, can be dicey in some fields.

On the other end, people are living longer. It's not uncommon to see people very healthy throughout their 70s, and even into their 80s. 3/4 my grandparents are alive at 82-83, and none of them have any serious medical problems to my knowledge. The odds are pretty high that they all make it to 85, and someone getting to over 90 wouldn't surprise me.

Where do these trends collide in your retirement planning?
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Old 12-04-2018, 08:36 AM
 
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While some are living longer the avg life expectancy of Americans has actually dropped

Life Expectancy: Why It Dropped in the U.S. This Year | Fortune
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Old 12-04-2018, 08:46 AM
 
Location: Tennessee
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Quote:
Originally Posted by Beach Sportsfan View Post
While some are living longer the avg life expectancy of Americans has actually dropped

Life Expectancy: Why It Dropped in the U.S. This Year | Fortune
My guess is these are mostly avoidable lifestyle problems. Drug addiction. Suicides. That sort of thing.
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Old 12-04-2018, 08:49 AM
 
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Originally Posted by Serious Conversation View Post
My guess is these are mostly avoidable lifestyle problems. Drug addiction. Suicides. That sort of thing.
Some are but there is also a very good report that Iíll try to find that shows socioeconomic patterns are 5he big drivers in the US slipping below other first world countries.
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Old 12-04-2018, 08:52 AM
 
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they are talking about from birth . that is very different than looking at retirement ages where more of us are living longer .

by the time the retirement ages come , much of the sickly , the accident prone , infant deaths , drugs , alcohol related deaths are removed .

a 65 year old couple has almost a 50% chance of one of them seeing 90 . (47%) and 73% of seeing 85

that is very different from the statistics of an individual at birth.

as michael kitces points out :

“life expectancy” can be a somewhat misleading term. Many people hear the term and think of it as a measure of how long they can “expect to live”. In reality, though, life expectancy is a measure of the average time a person within some particular population is expected to live. While the average is meaningful in many respects, it may not always provide the best measure for setting expectations about the actual age someone is likely to reach. Because mortality rates aren’t constant across a lifespan and the distribution of ages at death are heavily skewed (i.e., more people die old than young), commonly cited life expectancy measures—particularly life expectancy at birth, which is most often cited in the media—may result in misleading expectations.

For instance, a child born in 2014 has a life expectancy (average age at death) of 79. However, the median age of death for the same child is 83, and the modal (most common) age at death is 89! Given the shape of the distribution of ages at death (negatively skewed), it’s simply a mathematical fact that the mean is going to be lower than the median or the mode.



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Old 12-04-2018, 09:04 AM
 
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There is no doubt 5hat if you live to 65 chances are that you will live past the average life expectancy. But the question becomes are those getting to 65 living longer than in past couple of years and healthier. And in that we are still behind other first world countries and there is a bigger gap among socioeconomic groups.
We have a larger group of 65+ dealing with diabetes and heart disease. Some are lifestyle choices but others are based on access to heath care, access to food choices and our country’s food production machine.
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Old 12-04-2018, 09:10 AM
 
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i never speak in terms of straw people . but i can tell you there is a big difference between myself and my parents and my wife and her parents .

my mom died at 55 and my dad at my age was old and a couch potato . at 66 and 68 we are far healthier and energetic then either of our parents were at our age . i still run 4 miles every other day and spend 2 hours in the studio drumming , usually in the same day . that was nothing like our parents were at our age.

yeah i just turned diabetic slightly but my lifestyle held it at bay for the last 5 years . 10 years ago i was on blood pressure meds . today i am off them with low blood pressure levels from years of running .

so i can only tell our own stories .
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Old 12-04-2018, 09:10 AM
 
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I could not open the NY Times site, but there is nothing new about this. Anyone working in a highly technical field can reach a point where their skills and knowledge become dated. Before IT, this was true for engineering. Engineers coming out of school are often at their peak of knowledge. After a few years of experience, they reach the peak of performance. Failure to keep up means their skills become less relevant and at the peak of their salaries, they are at risk. This happens in non-technical fields as well. Jobs change and often become totally obsolete. Those who have not prepared will find themselves out of work and without the skills needed to find employment that is well compensated.


On the other side others become even more valuable and employable as they age. Often being fired is a boon and they find they can easily get a better job at better pay. I know lots of people who have been through the initial shock and then did much better.


There are some lessons in these stories.


Forget the idea of working for the same company for life. The company needs can change or the company can fail to thrive.


Forget the idea that the company you work for will keep you up to date. It is your responsibility to build your own skills. For high tech fields that might mean a lot of time in the course of a year. Being around a University can be all but essential. Either take classes or do adjunct teaching to force you to be up to date.


Forget the idea that you can succeed by keeping up to date in your field. Your field might vanish and that can happen rapidly. Build the knowledge, skills and attitude that will put you in position for new opportunities outside of your previous field.


A few weeks ago I met someone who had been very successful in Silicone Valley IT. He has been retired for over 5 years and still gets numerous emails a month asking if he is interested in working. He is 68, enjoying retirement, and not about to return to work. Clearly his tech skills are out of date. He is being recruited for his vision and his ability to manage projects and employees. There is another lesson here. Forget trying to live totally on your tech skills. It is way, way more important to learn to teamwork, management skills and to gain vision and foresight.


On this forum there are frequent complaints about being let go years before full retirement age. The individual usually paints themselves as a victim of circumstances. Instead you should be prepared to be let go at any time with little or no notice. That happened to me at least a half dozen times. Blaming "ageism" is the last thing I would do. I am sure there are a few places where the older worker just does not fit the corporate culture. From my observation it is usually the older worker who is to be blamed. Don't blame companies for looking for younger workers who will do your job for less money. If those companies underestimate your worth, then you will be better off working elsewhere. If you are indeed overpaid for your level of performance, that should be your fault and you should have seen it coming.
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Old 12-04-2018, 09:15 AM
 
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https://nypost.com/2018/01/26/humans...etting-sicker/

Living longer but at what cost? I would rather go at 80 having lived a good life than 95 if the last 15 are in dementia, or some other crippling disease.
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Old 12-04-2018, 09:16 AM
 
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to bad it ain't our choice
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