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.
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.
ReplyDeleteThanks for sharing this, Charles. I shared this on my LinkedIn Profile.
ReplyDelete9:31, "disability" here means drawing Title II disability benefits.
ReplyDeletePutting 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.
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