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Are you a Baby Boomer? - Introduced by Janice and Peter

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Peter Marcus

Peter Marcus


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Please Read This Great Article in Businessweek. January 25, 2011, Retirement: Live Long and Don't Prosper Confusion about the life expectancy of the Baby Boom generation bedevils fiscal planning and retirement planning By Ben Steverman As the 79-million-strong Baby Boom generation starts hitting age 65, demographers and medical researchers are increasingly at odds over how long they'll live. It's a question with major implications on a national level, for how much Social Security and Medicare will cost future generations of Americans. On a personal level, life expectancy complicates plans for saving and spending: Live too long and risk running out of money; die young and you can't take it with you. At least one member of a 65-year-old couple can expect to live for another 23 years, to age 88, according to 2010 Social Security data. That's just an average, however, and there is a 30 percent chance of living past 92. Moreover, those numbers are based on when current retirees—the baby boomers' parents—are passing away. Medical advances are keeping more people alive for longer than ever. The current life expectancy for an American at birth is 77.9 years—58 percent longer than in 1900, when the average life expectancy was 49 years. According to the most recent data available from the U.S. Centers for Disease Control and Prevention, from 2000 to 2007 the rate of death from heart disease, the leading cause of death, plunged 19 percent, while the rate for cancer, the second-leading cause of death, fell 5 percent. Thanks to medication that controls blood pressure and other advances, 95,000 fewer Americans died of heart disease in 2007 than in 2000, even as the population increased. Steverman is a reporter for Bloomberg News. Read full article at:Businessweek http://www.businessweek.com/print/investor/content/jan2011/pi20110125_634429.htm