According to a study by Social Security's Office of Chief Actuary, the chances of living to full retirement age without becoming disabled is 64% for males and 70% for females born in 1998. It is the same for females born in 1966 but only 58% for males born in 1966. Despite the improvement, that's still a lot of death and disability before full retirement age. People dramatically undervalue the importance of Social Security disability and survivor benefits. Yes, it can happen to you.
4 comments:
Are you comparing apples to apples here? Disability can mean a number of things. Disability can be a limp, a loss of hearing or vision on one side, mobility issues or lack or ROM in a shoulder, wrist or knee. Those do not equal or meet listing levels for SSDI.
Thanks for sharing this, Charles. I shared this on my LinkedIn Profile.
9:31, "disability" here means drawing Title II disability benefits.
Putting both sexes together, there is about a 1 in 3 chance that someone who's 20 now will either die or receive disability benefits before full retirement age.
A lot of people don't just work til age 67 and then enjoy their golden years. It's even rarer to have a married couple where both are able to do this.
I'd like to see the correlation for education. In my personal life, I know at least 5 couples (both 67 or older) that both work.
Post a Comment