Living may be dangerous to your long-term wealthOctober 4, 2006
Isn't it fascinating how so many things are determined by your perspective?
The Wall Street Journal featured an article today about retirement: "An Age-Old Problem: How to Make Sure Your Money Lasts as Long as You Do". The focus was on how ever-increasing age expectancies mean that your lifetime savings may not be enough for you to live comfortably into your 80's or even 90's. Excellent story, good reminder, and even a well-done headline.
Here's the rather odd paragraph that caught me off guard:
"There may be 5% to 10% of 65-year-olds who are in poor enough health that they don't have to worry about living a long time,' says Ken McCullum, a senior vice president in Harford's wealth-management group. "But the other 90% or 95% could live a very long time. There's a lot of uncertainty for those folks." [emphasis added]
Yes, indeed. Thankfully, a few of us (we can only hope) will pass away before reaching 70. But God help me if I'm one of those unfortunate people who might "live a very long time" and face a great deal of uncertainty!
We've been taught to fear death, running out of money, terrorism, spinach, failing to provide for our children's future, computer viruses, going to school, and internet stalkers. I suppose it was only a matter of time before someone decided to profit by making us fear - living!