When I'm Sixty-Four: The Plot against Pensions and the Plan to Save Them

By Teresa Ghilarducci | Go to book overview

Chapter 7

The Distribution of Retirement Time:
Who Really Gets to Retire?

Yes, the average American is retiring earlier and living longer. However, these two facts do not mean that people are spending more time in retirement. Jumping to that conclusion means assuming that longevity is going up faster than the retirement age is decreasing for everyone. We do not know that. Besides, only some people are living longer and only some people are working more. Stunningly, no one has considered that the reason we are living longer is precisely that we are retiring at earlier ages. There is credible evidence that retirement improves health, and evidence that working more would reverse those improvements in longevity.

The amount and distribution of how much time people spend in retirement—I will call this retirement time—are tricky to measure. After measuring accurately enough the distribution of retirement time across the population of the elderly correctly, I was pleasantly surprised. It seems that Americans of all different races and income levels have about the same amount of retirement time. The reason retirement time is the same is because the retirement date is flexible—Americans can start collecting a pension as early as age fifty (in some cases), and mandatory retirement is illegal so workers can stay in the labor market if they want.

Another way to explain the equal distribution of retirement time is that people can retire at different chronological ages so that they can retire at the same real age. Chronological age is measured by how much time has elapsed after your birth; real age takes into account how much time you have left. An eighty-year-old with such a healthy profile that she is predicted to live ten more years is the same real age as a feeble seventy-year-old who only has ten years to live (you will see more about this distinction throughout this chapter). For now, consider this: as we get older, measuring our age is less relevant

-197-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
When I'm Sixty-Four: The Plot against Pensions and the Plan to Save Them
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 374

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.