U.S. life expectancy declined by 2 years in 2020 largest drop of high income countries.

The average life expectancy fell by 2 years in calendar year 2020,continuing a trend of recent years.This 2 year decline in one year was the highest among all so called high income countries.

 

As of 2020 we can expect a life of 76.99 years.

 

Going to war against basic medical advice has a price, and in our case the price was 1 million American lives. Sure, many would have died no matter what, but many others dies unnecessarily.

Better hit those SS bennies as soon as you can.

 

NOT GOOD NEWS BECAUSE CONGRESS IS NOW DEBATING A BILL WHICH WILL RAISE THE 401k RETIREMENT AGE FROM 72 TO 75.

 

Well, that sucks for a lot of people but I'm gonna go about my life/day enjoying every moment and putting myself in a position to succeed.

 

Say what? What are you talking about?

 

I’m eligible for early retirement at 62 in 6 weeks. Not going to do it…

 

Average lifespan is decreasing to 76.99 years and they are debating raising the age at which you can begin collecting your 401k from 72 to age 75 thereby narrowing the years average lifespan liver can collect???Does the government get to keep the balance of 401K's for those with no heirs????

 

People can begin collecting on their 401k’s if retired and IRA’s regardless at age 59.5.

 

Just announced. 2021 was the deadliest year on record in US. Covid deaths were 415,000. Up from 351,000 in 2020.

 

I'd be interested in seeing the demographics of who's dying and what they're dying of. In the El Paso/Las Cruces area where I live people of Mexican heritage are obese and become obese at an early age. I believe blacks also have weight problems. And let's not forget drug use which has shortened a lot of lives.

You know, I colorize old black and white photos from the past and you just dont see fat people in them. Back in the day they said Jackie Gleason was fat, today no one would think twice about his size because he ain't no where near as bad as what we see today.

 

Covid has certainly contributed to our declining lifespans in the past two and a half years, but we were declining before Covid hit.

 

I think that the age we are discussing is the age where one must start collecting; not the age where one can begin collecting.

 

Yes the age at which you must begin collecting is being debated by congress to be raised from 72 to 75.

 

That is when it is mandatory to begin withdraw. The government has a formula which dictates how much must be withdrawn from your account each month. You can withdraw prior to then. The major impact is that you must withdraw and pay income taxes on the withdraw.

 

People are eating themselves into an early grave. Look around at all the obese kids and obese grownups. When was the last time you saw a skinny kid? When I grew up in the 40's and 50's it was rare to see a kid who was overweight.

The politicians want to raise the age we can start drawing our Social Security. Meanwhile they can draw full salary in retirement after serving only one term in office.

A full pension is available to congressional members 62 years of age with 5 years of service; 50 years or older with 20 years of service; or 25 years of service at any age.

 

On that its 70.5 for traditional IRA’s. On the other hand if you have ROTH 401k or IRA funds there is no minimum distribution age and the entirety of both may be passed on tax free to heirs.

 

It does not pass tax free in Pennsylvania which has a mandatory inheritance tax of I believe 4.5% with no exclusions.

 

Yes, these are called "required minimum distributions" or RMDs, the age limit of which Congress is proposing to increase to 75 in 2032. This will make tax minimization strategies much easier for retirees under that age.

 

That is actually a good thing. Right now they make you cash in your 401k by age 72 so they can tax the hell out of it. The change you reference would raise it two years for your benefit. This would avoid the IRS confiscating 30% of your life savings within 7 years of you retiring and instead give you 10 years. If you have 7 million dollars, you would be taxed 10 times at the 700K income bracket instead of 7 times at the 1M income bracket.

If we had politicians that gave a damn about us, they would tax our 401ks as we spend the money INSTEAD OF FORCING US TO TAKE THE MONEY IN HUGE LUMP SUMS TO TAX US AT HIGHER RATES AND DEPLETE OUR PRINCIPLE. Most people don't realize that the government is going to skim 20-30 percent off the top shortly after retirement. If you save a million for retirement, you have to factor in the government taking 250K away shortly after retirement and you will be living off a principle of 750K instead. This makes an insanely huge difference to one's retirement.

 

China flu did that

 

Hell just wait till the DNC's "Unrealized gains tax" finally makes it's way down to we the lil peoples

 

Need to get us onto Universal Healthcare .. Not only is our system on of healthcare extortion .. paying double what other first world nations pay .. the care we get is middle of the road.

 

You mean the Fauci Flu .. get your bad actors straight mate

 

Well I stand corrected, but I like to see it as a coordinated effort along with the DNC backing it!