Here's some very interesting information to consider for those of you thinking about working to or past age 65.
The chart below depicts the age at which you retire versus your life expectancy after retirement. As you can see the trend generally shows that the earlier you retire, the longer you live!
The study is the work of Dr. Ephrem (Siao Chung) Cheng. Dr. Cheng's actuarial study of life span vs. age at retirement was based on the number of pension checks sent to retirees of large companies including Boeing Aerospace, with more than 158,000 people across the United States and in 70 countries, & Lockheed Martin, a global security company that employs about 146,000 people worldwide. Boeing experience is that the average employee retiring at 65 receives 18 monthly cheques prior to death. Lockheed Martin experience is 17 months.
Conclusion: For every year one works beyond age 55, 2 years of lifespan are traded!!!
The chart below depicts the age at which you retire versus your life expectancy after retirement. As you can see the trend generally shows that the earlier you retire, the longer you live!
The study is the work of Dr. Ephrem (Siao Chung) Cheng. Dr. Cheng's actuarial study of life span vs. age at retirement was based on the number of pension checks sent to retirees of large companies including Boeing Aerospace, with more than 158,000 people across the United States and in 70 countries, & Lockheed Martin, a global security company that employs about 146,000 people worldwide. Boeing experience is that the average employee retiring at 65 receives 18 monthly cheques prior to death. Lockheed Martin experience is 17 months.
Conclusion: For every year one works beyond age 55, 2 years of lifespan are traded!!!
hmm, let's see now ....... retire at 65 and live till almost 67 .......
....... hmm, something to think about!
....... or retire at 55 with 30 years to have fun spending my kids inheritance & the tax payers money .......
For pension & retirement information contact your union pension rep Dave McDonnell
(250.318.0189) today!
(250.318.0189) today!