{"id":313257,"date":"2021-07-31T23:16:00","date_gmt":"2021-07-31T20:16:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/encore-working-longer-is-possible-for-most-people\/"},"modified":"2021-07-31T23:16:00","modified_gmt":"2021-07-31T20:16:00","slug":"encore-working-longer-is-possible-for-most-people","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/encore-working-longer-is-possible-for-most-people\/","title":{"rendered":"#Encore: Working longer is possible for most people"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6adf21d69aabd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6adf21d69aabd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/encore-working-longer-is-possible-for-most-people\/#But_a_stark_divide_exists_by_education\" >But a stark divide exists by education<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/encore-working-longer-is-possible-for-most-people\/#Alicia_H_Munnell\" >Alicia H. Munnell<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Encore: Working longer is possible for most people<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"But_a_stark_divide_exists_by_education\"><\/span>\n  But a stark divide exists by education<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000350202\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000350202\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       I have long been a fan of working longer.\u00a0Claiming <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security at age 70 rather than age 62 produces monthly benefits at least 76% higher.\u00a0These benefits not only last a lifetime but are also adjusted for inflation.\u00a0Most people who work to age 70 will be able to maintain their preretirement standard of living.<\/p>\n<div class=\"paywall\">\n       Until recently, the trend of rising disability-free life expectancy in the United States suggested increasing scope for longer working lives.\u00a0Recent developments, however, may have stalled this progress. Both self-reported and objective measures of health have worsened over the past two decades. This decline has been particularly acute for workers without a college degree. At the same time, the separate trend of rising educational attainment, which helped spur past improvements in disability-free life expectancy, has largely played out.<\/p>\n<p> To reassess how long people may be able to work, my colleagues have just completed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/crr.bc.edu\/briefs\/are-older-workers-capable-of-working-longer-2\/\" class=\"icon none\">a study<\/a> that examines \u201cworking life expectancy\u201d for all individuals and by race and education.\u00a0<\/p>\n<p>The calculation of \u201cworking life expectancy\u201d requires data on: 1) the probability of dying; 2) the probability of being institutionalized; and 3) the probability of having work-limiting disabilities in the non-institutionalized population.\u00a0 <\/p>\n<p>Combining these probabilities suggests that a 50-year-old man could expect to live an additional 29.8 years, and in 21.8 of those years he would be capable of work. For a woman, the corresponding numbers are 33.6 and 23.9. On their face, these results might seem encouraging \u2014 the average person can work until their early 70s.\u00a0<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:28.999999999999996%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-375175?width=540&amp;size=3.450134770889488 540w, https:\/\/images.mktw.net\/im-375175?width=620&amp;size=3.450134770889488 620w, https:\/\/images.mktw.net\/im-375175?width=639&amp;size=3.450134770889488 639w, https:\/\/images.mktw.net\/im-375175?width=700&amp;size=3.450134770889488 700w, https:\/\/images.mktw.net\/im-375175?width=700&amp;size=3.450134770889488&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-375175?width=700&amp;size=3.450134770889488&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-375175?width=700&amp;size=3.450134770889488&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-375175?width=700&amp;height=203\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       However, the average does not tell the full story. A stark divide exists by education: both high-education Black and white individuals experienced an increase of roughly one year of working life expectancy from 2006 to 2018. In contrast, most low-education groups actually saw a decline, with the exception of Black women.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:46.85714285714286%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-375177?width=540&amp;size=2.1368948247078463 540w, https:\/\/images.mktw.net\/im-375177?width=620&amp;size=2.1368948247078463 620w, https:\/\/images.mktw.net\/im-375177?width=639&amp;size=2.1368948247078463 639w, https:\/\/images.mktw.net\/im-375177?width=700&amp;size=2.1368948247078463 700w, https:\/\/images.mktw.net\/im-375177?width=700&amp;size=2.1368948247078463&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-375177?width=700&amp;size=2.1368948247078463&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-375177?width=700&amp;size=2.1368948247078463&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-375177?width=700&amp;height=328\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       The key question is how long individuals in each group can be expected to work. To answer that question, the researchers took individuals who are expected to be working at 62 and calculated the probability that they will still be capable of work at Social Security\u2019s Full Retirement Age of 67 (see Figure 1).\u00a0<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:72.28571428571429%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-375179?width=540&amp;size=1.3837837837837839 540w, https:\/\/images.mktw.net\/im-375179?width=620&amp;size=1.3837837837837839 620w, https:\/\/images.mktw.net\/im-375179?width=639&amp;size=1.3837837837837839 639w, https:\/\/images.mktw.net\/im-375179?width=700&amp;size=1.3837837837837839 700w, https:\/\/images.mktw.net\/im-375179?width=700&amp;size=1.3837837837837839&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-375179?width=700&amp;size=1.3837837837837839&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-375179?width=700&amp;size=1.3837837837837839&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-375179?width=700&amp;height=506\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       The exercise shows two things.\u00a0 <\/p>\n<p>First, roughly 85% of those working at 62 can work to 67, which means that the pre<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ion to work longer is still useful advice for much of the population.\u00a0 <\/p>\n<p>Second, a substantial portion of Black workers and individuals with low education will not be able to work to 67 and would be severely hurt by any increase in the FRA.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Alicia H. Munnell\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/author\/alicia-h-munnell\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:contributors@marketwatch.com\",\"text\":\"contributors@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Alicia_H_Munnell\"><\/span>Alicia H. Munnell<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7557-FA0703BDA028%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Encore: Working longer is possible for most people&#8221; But a stark divide exists by education I have long been a fan of working longer.\u00a0Claiming Social Security at age 70 rather than age 62 produces monthly benefits at least 76% higher.\u00a0These benefits not only last a lifetime but are also adjusted for inflation.\u00a0Most people who work&#8230;<\/p>\n","protected":false},"author":1,"featured_media":313258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-313257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/313257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=313257"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/313257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/313258"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=313257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=313257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=313257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}