69 is the new 49?

A Retirement Age of 100? It’s Coming


Excerpt:

On the left is the famous artist Albrecht Durer’s portrait of his 63-year-old mother in 1514. On the right is the lovely actress Helen Mirren at the same age, more recently. .. In other words, the good news is that we’re living longer and, for the most part, healthier, than in the past. Both our mental and physical functioning in later life exceed that of our forefathers and foremothers. My own parents, born in 1916 and 1922, faced a life expectancy of around 45 at birth. Surviving to age 60 was rare in the old days, while today, age 80 is touted as “the new 60” and centenarians (age 100+) are our fastest growing age group. At the same time, we must be alert to the reality that it’s now much more expensive to retire than it used to be. A baby born today could live to age 150 or beyond, a reality that will drastically alter your perspective about your own, as well as your children’s and grandchildren’s retirements. My mom and dad retired three decades ago with a secure defined-benefit pension and retiree medical insurance, reliable Social Security and Medicare benefits, and a house that had appreciated over time. They didn’t need to save a lot, nor did their savings need to stretch very far, given their secure income streams.

Comment: Top image is indeed Albrecht Durer’s 63-year-old mother in 1514. Bottom image is Helen Mirren at 69.

Aging and spending patterns

FROM TOYS TO TOMBSTONES: How The Spending Patterns Of Americans Change Throughout Their Lives

Excerpt:

HS Dent, an economic forecasting firm, compiled Census data spending behavior and presented them as demand curves, which measure average annual expenditure for a given product over age.

HS Dent's charts couldn't be more simple, but we can't stop looking at them. They offer an elegant glimpse into how spending really evolves over time.

What are some things we learned? Well, as we mature we use a lot less plastic cutlery.

But our towels get a lot older and cheaper. Not surprisingly, alcohol consumption is pretty steady from ages 20 to 70.

And it looks like we do all of our vacationing long before retirement.

Comment: View article for charts. What I've noticed:

• Becoming an empty-nester really impacts expenses. When the kids move out (and it's been over 10 years for us), the phone bill (we used to have 2 lines!), utilities, groceries, and auto expenses really go down.
• Auto insurance is probably the # 1 saver for us!
• Auto expenses: We once had three cars. Now 2. (I think we could live with one but I don't want to get rid of my truck!)
• Groceries is right up there
• Clothing is in the mix too!
• On restaurants ... we rarely eat out unless we are traveling. We bag lunches to work

Older and "wiser"?

Older Brain Really May Be a Wiser Brain

Excerpt:

...the aging brain is simply taking in more data and trying to sift through a clutter of information, often to its long-term benefit.

The studies are analyzed in a new edition of a neurology book, “Progress in Brain Research.”

Some brains do deteriorate with age. Alzheimer’s disease, for example, strikes 13 percent of Americans 65 and older. But for most aging adults, the authors say, much of what occurs is a gradually widening focus of attention that makes it more difficult to latch onto just one fact, like a name or a telephone number. Although that can be frustrating, it is often useful.

“It may be that distractibility is not, in fact, a bad thing,” said Shelley H. Carson, a psychology researcher at Harvard whose work was cited in the book. “It may increase the amount of information available to the conscious mind.”


Comment: I hope this is true!

Julie Andrews turned 69

Contributed by Jon Tuttle.



It wouldn't be funny if it wasn't so true... Julie Andrews turned 69.

To commemorate her 69th birthday on October 1, actress/vocalist, Julie Andrews made a special appearance at Manhattan's Radio City Music Hall for the benefit of the AARP. One of the musical numbers she performed was 'My Favorite Things' from the legendary movie 'Sound Of Music.'

Here are the actual lyrics she used:

Maalox and nose drops and needles for knitting,
Walkers and handrails and new dental fittings,
Bundles of magazines tied up in string,
These are a few of my favorite things.

Cadillac's and cataracts, and hearing aids and glasses,
Polident and Fixodent and false teeth and glasses,
Pacemakers, golf carts and porches with swings,
These are a few of my favorite things.

When the pipes leak,
When the bones creak,
When the knees go bad, I simply remember my favorite things,
And then I don't feel so bad.

Hot tea and crumpets and corn pads for bunions,
No spicy hot food or food cooked with onions,
Bathrobes and heating pads and hot meals they bring,
These are a few of my favorite things.

Back pains, confused brains, and no need for sinnin',
Thin bones and fractures and hair that is thinnin',
And we won't mention our short, shrunken frames,
When we remember our favorite things.

When the joints ache,
When the hips break,
When the eyes grow dim,
Then I remember the great life I've had,
And then I don't feel so bad.

(Ms. Andrews received a standing ovation from the crowd that lasted over four minutes and repeated encores.)