Have you ever wondered how Americans die? Back in the 1900‘s the average life expectancy was under 50 years of age. By 2010, the life expectancy increased to just under 80 years of age which made me start to wonder: What is causing Americans to die in this day and age?
An interactive graph on Bloomberg.com (http://www.bloomberg.com/dataview/2014-04-17/how-americans-die.html) depicts how some Americans die. One key point I found interesting is the mortality rate for people aged 25-44. From the early 1980’s to the mid 1990’s, AIDS was the main cause, which at its peak, killed more then 40,000 Americans a year. Slowing infection rates and better treatment eventually allowed many of those with the virus to survive into their 50s and 60s.
Another interesting statistic is that in general, most Americans are living longer and dying of natural causes. About one-third of all deaths are people 85 and older. The downside to living so long though is that it dramatically increases the odds of getting dementia or Alzheimer’s. The rise of Alzheimer's and other forms of dementia has had a big impact on health-care costs because these diseases kill their victims slowly thereby causing an increased drain. In fact, about 40 percent of the total increase in Medicare spending since 2011 can be attributed to greater spending on Alzheimer’s treatment.
Overall, the share of U.S. health-care spending going toward nursing and retirement homes has declined slightly since 2000 and has remained flat since 2006.
With Americans living longer, it makes me, a 33 year old, start to worry about the future and what’s going to happen when I reach retirement age. Will I have enough money to get me to the end of my life? Working at an estate planning and elder law firm has really opened my eyes. It’s never too late or too early to start planning for the future! If you’ve been putting off planning for your future, we would love to meet with you and create a custom plan to make sure you have your assets protected throughout your life and at your death.