The latest data from the Centers for Disease Control’s National Center for Health Statistics (NCHS) found that life expectancy in the United States is declining. However, where you live, how much you have in savings, your genes and health habits, and your age can greatly affect your actual life expectancy.
At a basic level, you need to estimate your life expectancy in order to plan your retirement. To determine how much savings you need to adequately cover your living expenses, you must (among many other things) “know” (estimate/guess) how long you can live.
Most financial planning tools estimate your life expectancy, but NewRetirement Planner puts you in control of that number. You can also use our Life Expectancy Calculator to better estimate how long you can live.
As you can see below, understanding life expectancy at different ages, different geographic locations, and different races can also influence decisions about where and how to live.
up to date data Life expectancy in the United States has fallen to 76.4 years, the lowest in nearly two decades, according to an NCHS study.
Life expectancy at birth in the United States dropped to its lowest level since 1996, falling from 77.0 to 76.1 years. A 0.9-year decline in life expectancy in 2021, combined with a 1.8-year decline in 2020, is the largest decline in life expectancy in two years. From 1921 to 1923.
COVID-19 and deaths from drug overdoses, especially synthetic opioids such as fentanyl, were the main contributing factors to the decline in life expectancy. Deaths from suicide and alcohol-related liver disease and cirrhosis have also increased, reducing life expectancy for Americans.
guess what? The longer you live, the longer you will live.
The above stats on the drastic drop in life expectancy are for everyone in all age groups. However, the most recent data CDC It turns out that the average 65-year-old’s life expectancy hasn’t changed much, if at all.
- Life expectancy is now 18.4 years (83.4 years) for both men and women. This is just 0.1 years down from the previous year.
- Life expectancy for men is 17 years (82 years). This is unchanged from the previous year.
- Life expectancy for women is 19.7 years (84.7 years). This is 0.1 years down from the previous year.
longevity and net worth
guess what? People with more money live longer on average.
It’s probably not really surprising that wealth leads to longevity. But you might be surprised to hear the details of how long. researcher Harvard University found that the richest American men outlive the poorest men by 15 years, and the richest American women outlive the poorest by 10 years. That’s quite a gap.
One of the authors of this study David CutlerApplied economics professor Otto Eckstein was quoted as saying: [above] That is, higher incomes are not associated with longer life, and lower incomes are not associated with decreased survival. He added, “It was already known that life expectancy increased with income, so we weren’t the first to show it, but everyone thought it must hit a plateau at some point.” I used to think that otherwise life would hit the bottom, but that’s not the case.”
Another study from Northwestern University used data from the “Midlife in the United States” project, which focused on aging. They found that every $50,000 accumulated by middle age lowered the risk of death by 5%. In addition, those who saved $139,000 or more were 13% more likely to live longer than their siblings.
CDC data indicates that life expectancy varies greatly by state. Let’s take a look at the states with the highest life expectancy from birth and those at 65.
The state with the longest life expectancy at birth is Hawaii at 80.7 years. On the other hand, people in Mississippi, which has the lowest life expectancy, only live to an average of 71.9 years, a difference of 8 years for him.
The other four states with the lowest life expectancy are also in the South: West Virginia (72.8 years), Alabama (73.5 years), Louisiana (73.1 years), and Kentucky (73.5 years).
The top nine longevity states outside of Hawaii are more geographically diverse: Minnesota (79.1), Vermont (78.8), Washington (79.2), New Hampshire (79), Utah (78.6), Colorado ( 78.3), Massachusetts (79), California (79), Oregon (78.8).
Hawaii also ranks first for life expectancy after age 65, with older residents living an average of 86 years. Other top 10 states are California (84.5), Vermont (84.5), Washington (84.5), Oregon (84.3), Florida (84.2), New Hampshire (84.1), Minnesota (84.1), Colorado (84) and Maine . (84).
Mississippi again finished last. However, the state’s life expectancy after age 65 is 81.1 years, about nine years longer than life expectancy after birth.
Academic researchers from various universities are studying differences in life expectancy.
of world population review They found correlations about various factors that could suggest why life expectancy varies from state to state. They found:
- There is a perfect match between the states with the lowest life expectancy and the states with the highest poverty levels. People on the lowest incomes have difficulty accessing health care and experience stress that negatively impacts their life expectancy.
- Of the states with the longest life expectancies, six had the lowest percentage of people with incomes below the poverty level.
- There is a correlation between life expectancy and:
- education level. Populations tend to live longer in states with higher levels of education.
- Smoking and obesity levels.
- Access and affordability of healthcare.
researcher It also found that the gap in life expectancy between states has widened in recent years as national policies have become more polarized. In general, states with more liberal policies are experiencing faster life expectancy, while states with more conservative policies are experiencing slower increases in life expectancy.
Where you live and how much money you have can affect your lifespan, but they are not your destiny. And while genetic makeup may be a strong determinant of longevity, physical, cognitive, emotional, environmental, social, and mental health can help extend life.
A positive mindset also helps. One study found that people with negative attitudes about aging lost an average of 7.5 years of life expectancy. Yale University.
Do you know what helps with positive thinking? A written financial plan that feels great to you. Find your way to a longer, healthier, and more financially secure life with the NewRetirement Planner.