Sunday, April 28, 2019

Each $4,000 of Additional Mid-career Income Correlates With an Extra Year of Life After 55

News you can maybe use.
First posted in 2015:
"The Richer You Are the Older You’ll Get" 

However, it wasn't until ca. 1750 that the difference between English aristo lifespans and the general population became really noticeable. See page 82 of this paper.

From Real Time Economics:
Money may not buy love, but it appears to buy years.

Economist Barry Bosworth at the Brookings Institution crunched the numbers and found that the richer you are, the longer you’ll live. And it’s a gap that is widening, particularly among women.
Mr. Bosworth parsed this data from the University of Michigan’s Health and Retirement Study, a survey that tracks the health and work-life of 26,000 Americans as they age and retire. The data is especially valuable as it tracks the same individuals every two years in what’s known as a longitudinal study, to see how their lives unfold.

The good news is that men of all incomes are living longer. Yet the data shows that the life expectancy of the wealthy is growing much faster than the life expectancy of the poor.

Here’s the sort of detail this remarkable data set can show. You can look at a man born in 1940 and see that during the 1980s, the mid-point of his career, his income was in the top 10% for his age group. If that man lives to age 55 he can expect to live an additional 34.9 years, or to the age of 89.9. That’s six years longer than a man whose career followed the same arc, but who was born in 1920.

For men who were in the poorest 10%, they can expect to live another 24 years, only a year and a half longer than his 1920s counterpart....MORE
And 2014:
From The Atlantic:

The Rich Live Longer: So How Much Money 'Buys' 1 More Year of Life?
 Climbing America's income ladder today is truly a game of life and delayed death—and thousands of dollars are separating the rungs.

Richer people live longer lives.

It's true for both men and women. It's true at virtually every income level. And it was the backbone of one of the most striking charts I've seen this year in the Wall Street Journal, based on research by Brookings scholar Barry Bosworth.
And it made me wonder: If more money "buys" more life, how much extra income buys one more year of living?...MORE