The Richer You Are the Older You’ll Get

May 6, 2014

      Here is an awesome article written by Josh Zumbrun of the Wall Street Journal.

Enjoy!!!  Live long!!!!

Joe Darkangelo

 

Money may not buy love, but it appears to buy years.

Economist Barry Bosworth at the Brookings Institution crunched the numbers and found that the richer you are, the longer you’ll live. And it’s a gap that is widening, particularly among women.

Mr. Bosworth parsed this data from the University of Michigan’s Health and Retirement Study, a survey that tracks the health and work-life of 26,000 Americans as they age and retire. The data is especially valuable as it tracks the same individuals every two years in what’s known as a longitudinal study, to see how their lives unfold.

The good news is that men of all incomes are living longer. Yet the data shows that the life expectancy of the wealthy is growing much faster than the life expectancy of the poor.

Here’s the sort of detail this remarkable data set can show. You can look at a man born in 1940 and see that during the 1980s, the mid-point of his career, his income was in the top 10% for his age group. If that man lives to age 55 he can expect to live an additional 34.9 years, or to the age of 89.9. That’s six years longer than a man whose career followed the same arc, but who was born in 1920.

For men who were in the poorest 10%, they can expect to live another 24 years, only a year and a half longer than his 1920s counterpart.

The story is rather different for women. At every income level, for both those born in 1920 and 1940, women live longer than men. But for women, the longevity and income trends are even more striking. While the wealthiest women from the 1940s are living longer, the poorest 40% are seeing life expectancy decline from the previous generation.

“At the bottom of the distribution, life is not improving rapidly for women anymore,” said Mr. Bosworth. “Smoking stands out as a possibility. It’s much more common among women at lower income levels.”

Mr. Bosworth’s findings build off earlier research from Hilary Waldron at the Social Security Administration who has also documented the widening gap at the interplay of incomes and longevity. Researchers studying life expectancy use actuarial calculations for their estimates, as precise outcomes cannot be known until an entire generation has passed away. He analyzed the data, along with Kathleen Burke at the Consumer Financial Protection Bureau, to evaluate a common proposal to keep Social Security in balance as the population ages: to simply raise the retirement age

“If it turns out people at the bottom are not having an increase in life expectancy. They are getting a real reduction” in Social Security benefits as a result, said Mr. Bosworth. “They’re going to get it for less years.”

Take the example above. A wealthy man, born in 1920 who retired at age 65, could expect to draw Social Security for 19 years. His son, born in 1940 and retired at age 67, could expect to draw benefits for 24 years. Yes, he retired later, but he’s living longer.

This would not be true for men and women at the bottom. They would draw Social Security for less years, if the retirement age rises, and their longevity does not.

“It’s really hard to come up with some effective means of trying to equalize this,” said Mr. Bosworth, “and that’s a serious concern.”

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Why LIFE Leadership conventions?

October 2, 2013

https://www.youtube.com/watch?v=aWJAPyXdI1Uimages


What an eye opener!!!!

May 1, 2013

Good day everyone!!

I was reading this info from the WDIV  website in Detroit and thought it was worth posting it.  Numbers don’t lie!!

Any ideas what to do???  I know what I think we all should do……..OWN YOUR OWN BUSINESS!!!

41% of college grads overqualified for what they do
Story posted 2013.05.01 at 07:22 AM EDT

College just isn’t worth what it used to be.
A survey out Tuesday found that 41 percent of college graduates from the last two years are stuck in jobs that don’t require a degree.
Consulting firm Accenture talked to 1,005 students who graduated from college in 2011 and 2012 and haven’t returned to graduate school. In addition to those who are underemployed, 11 percent said they are unemployed, with 7 percent reporting they haven’t had a job since graduating.
The lack of job options in their chosen fields are weighing grads down, as nearly half of the recent graduates believe they would fare better in the job market if they’d pursued a different major.
Nearly two-thirds of those surveyed said they would need additional training in order to start their chosen career, with 42 percent saying they expect to go to graduate school. That’s a sharp change in thinking from those still in school: A separate survey by Accenture found that only 18 percent of the class of 2013 expects to need graduate school.
It will likely be much higher, as job prospects are grim for the class of 2013. The unemployment rate remains stubbornly high at 7.6 percent, and recent graduates fare even worse, according to the Labor Department.
The weak job market will continue to make things difficult for recent graduates, according to Katherine Lavelle, managing director of Accenture’s Talent & Organization practice in North America.
“It’s logical that if there are more meaningful jobs available, you will have fewer out in the market looking for those jobs,” she said.
But she said even when the job market improves, there needs to be better coordination between employers and colleges about what skills new workers need to have.


Heart Monitor to Hawaii!

March 17, 2013

2013-02-28 14.11.31It is amazing that not to many years ago I was working 100+ a week and wearing a heart monitor when I saw this great opportunity. I was sales manager for a food distribution company for 18 years and c0-owned a pizza franchise with 17  locations in the metro Detroit area.   I thought it might be just like any other networking business out there where you had to keep trying to “recruit” people.  But there was something different about the people that I met.  It  just felt different. They were great people.

Everybody thought I was crazy getting involved in this crazy business. But 25 months after, I replaced my income and left the food distributor and walked away from the pizza business. (Makes me hungry talking about food).  Since then, we have been partnered up with some great companies that we were able to bring our community to.

But now, everything has even grown faster!!

The compensated community (TEAM) that I have partnered with, has started their own business calledLIFE on 11/11/11.

We now have  great products that help people grow personally and in their leadership abilities.  We are just helping people get great information that can help them improve the 8 F’s of their LIFE (Faith, Family, Finance, Fitness, Following, Fun, Freedom and Friends).  Don’t we all really want that anyway?  Now we pay people to get great information out there in this crazy world.

Has it been a smooth road?  NO WAY!  But nothing worth having ever is!!  This business is better than it ever has been!

Not only does LIFE  pay you for building compensated communities, they have incentive trips that you can earn also.  Laura and I were just very blessed to earn a trip to Maui, Hawaii.  I have been to a lot of places but I have never seen anything quite like this.  We did not have to worry about anything, LIFE took care of everything!!

Thank you LIFE for a trip that my family will never forget!!  Thank you LIFE for changing my life forever!!

God Bless,

Joe and Laura Darkangelo

www.live-the-life.net


Eight Things Remarkably Successful People Do

November 13, 2012

I thought I would share this great info that was written by author Jeff Haden from Inc.com.
Enjoy!

1. They don’t create back-up plans.

Back-up plans can help you sleep easier at night. Back-up plans can also create an easy out when times get tough.

You’ll work a lot harder and a lot longer if your primary plan simply has to work because there is no other option. Total commitment–without a safety net–will spur you to work harder than you ever imagined possible.

If somehow the worst does happen (and the “worst” is never as bad as you think) trust that you will find a way to rebound. As long as you keep working hard and keep learning from your mistakes, you always will.

2. They do the work…

You can be good with a little effort. You can be really good with a little more effort.

But you can’t be great–at anything–unless you put in an incredible amount of focused effort.

Scratch the surface of any person with rare skills and you’ll find a person who has put thousands of hours of effort into developing those skills.

There are no shortcuts. There are no overnight successes. Everyone has heard about the 10,000 hours principle but no one follows it… except remarkably successful people.

So start doing the work now. Time is wasting.

3.  …and they work a lot more.

Forget the Sheryl Sandberg “I leave every day at 5:30” stories. I’m sure she does. But she’s not you.

Every extremely successful entrepreneur I know (personally) works more hours than the average person–a lot more. They have long lists of things they want to get done. So they have to put in lots of time.

Better yet, they want to put in lots of time.

If you don’t embrace a workload others would consider crazy then your goal doesn’t mean that much to you–or it’s not particularly difficult to achieve. Either way you won’t be remarkably successful.

4. They avoid the crowds.

Conventional wisdom yields conventional results. Joining the crowd–no matter how trendy the crowd or “hot” the opportunity–is a recipe for mediocrity.

Remarkably successful people habitually do what other people won’t do. They go where others won’t go because there’s a lot less competition and a much greater chance for success.

5. They start at the end…

Average success is often based on setting average goals.

Decide what you really want: to be the best, the fastest, the cheapest, the biggest, whatever. Aim for the ultimate. Decide where you want to end up. That is your goal.

Then you can work backwards and lay out every step along the way.

Never start small where goals are concerned. You’ll make better decisions–and find it much easier to work a lot harder–when your ultimate goal is ultimate success.

6. … and they don’t stop there.

Achieving a goal–no matter how huge–isn’t the finish line for highly successful people. Achieving one huge goal just creates a launching pad for achieving another huge goal.

Maybe you want to create a $100 million business; once you do you can leverage your contacts and influence to create a charitable foundation for a cause you believe in. Then your business and humanitarian success can create a platform for speaking, writing, and thought leadership. Then…

The process of becoming remarkably successful in one field will give you the skills and network to be remarkably successful in many other fields.

Remarkably successful people don’t try to win just one race. They expect and plan to win a number of subsequent races.

7. They sell.

I once asked a number of business owners and CEOs to name the one skill they felt contributed the most to their success. Each said the ability to sell.

Keep in mind selling isn’t manipulating, pressuring, or cajoling. Selling is explaining the logic and benefits of a decision or position. Selling is convincing other people to work with you. Selling is overcoming objections and roadblocks.

Selling is the foundation of business and personal success: knowing how to negotiate, to deal with “no,” to maintain confidence and self-esteem in the face of rejection, to communicate effectively with a wide range of people, to build long-term relationships…

When you truly believe in your idea, or your company, or yourself then you don’t need to have a huge ego or a huge personality. You don’t need to “sell.”

You just need to communicate.

8. They are never too proud.

To admit they made a mistake. To say they are sorry. To have big dreams. To admit they owe their success to others. To poke fun at themselves. To ask for help.

To fail.

And to try again.


Would you have invested?

September 20, 2012


Another reason to look at the LIFE business!

July 15, 2012

 When Paula Symons joined the U.S. workforce in 1972, typewriters in her office clacked nonstop, people answered the telephones and the hot new technology revolutionizing communication was the fax machine.

Symons, fresh out of college, entered this brave new world thinking she’d do pretty much what her parents’ generation did: Work for just one or two companies over about 45 years before bidding farewell to co-workers at a retirement party and heading off into her sunset years with a pension.

Forty years into that run, the 60-year-old communications specialist for a Wisconsin-based insurance company has worked more than a half-dozen jobs. She’s been laid off, downsized and seen the pension disappear with only a few thousand dollars accrued when it was frozen.

So, five years from the age when people once retired, she laughs when she describes her future plans.

“I’ll probably just work until I drop,” she says, a sentiment expressed, with varying degrees of humor, by numerous members of her age group.

Like 78 million other U.S. Baby Boomers, Symons and her husband had the misfortune of approaching retirement age at a time when stock market crashes diminished their 401(k) nest eggs, companies began eliminating defined benefit pensions in record numbers and previously unimagined technical advances all but eliminated entire job descriptions from travel agent to telephone operator.

At the same time, companies began moving other jobs overseas, to be filled by people willing to work for far less and still able to connect to the U.S. market in real time.

“The paradigm has truly shifted. Now when you’re looking for a job you’re competing in a world where the competition isn’t just the guy down the street, but the guy sitting in a cafe in Hong Kong or Mumbai,” says Bill Vick, a Dallas-based executive recruiter who started BoomersNextStep.com in an effort to help Baby Boomers who want to stay in the workforce.

Not only has the paradigm shifted, but as it has the generation whose mantra used to be, “Don’t trust anyone over 30,” finds itself now being looked on with distrust by younger Generation X managers who question whether boomers have the high-tech skills or even the stamina to do what needs to be done.

“I always have the feeling that I have to prove my value all the time. That I’m not some old relic who doesn’t understand social media or can’t learn some new technique,” says Symons, who is active on Twitter and Facebook, loves every new time-saving software app that comes down the pike, and laughs at the idea of ever sending another fax.

“Ahh, that’s just so archaic,” she says.

Meanwhile, as companies have downsized, boomers have been hurt to some degree by their own sheer numbers, says Ed Lawler of the University of Southern California’s Marshall School of Business.

The oldest ones, Lawler says, aren’t retiring, and more and more the youngest members of the generation ahead of them aren’t either. It’s no longer uncommon, he says, for people to work until 70.

“People who would have normally been out of the workforce are still there, taking jobs that would have gone to what we now call the unemployed,” he said.

John Stewart of Springfield, Mo., sees himself becoming part of that new generation that never stops working.

“No, I don’t see myself retiring,” says Stewart, who is media director for a large church. “I think I would be bored if I just all of a sudden quit everything and did whatever it is retired people do.”

Then there are the financial considerations. Like many boomers, the 60-year-old acknowledges he didn’t put enough aside when he was younger.

For more than 30 years, Stewart ran his own photography business, doing everything from studio portraits to illustrating annual reports for hospitals and other large corporations to freelancing for national magazines and newspapers.

As the news media began to struggle, the magazine and newspaper work dried up. As the economy tanked, his large corporate clients began to use cheaper stock photos purchased online rather than hire him to take new ones. Eventually he took his current job, producing videos of pastors’ sermons and photos for church publications. He says he is glad to be one boomer to make a late career change and keep working.

“There were times when the money was really rolling in,” he says of his old business. “But somehow retirement wasn’t really in the forefront of my thinking then, so saving for it wasn’t an automatic thing.”

Steve Wyard, of Los Angeles, says he and his wife have planned carefully for retirement.

He’s worked for 30 years for a company that sells and services commercial washers and dryers, and she’s been with a health maintenance organization for even longer. They’ve invested cautiously, lived in the same house for decades and meticulously paid down the mortgage.

Plus he’s one of the few boomers who figures that, no matter what technology comes along, his job won’t go away.

“Everyone has to do the laundry,” he says.

Still, he and his wife have two sons, 19 and 21, to put through college, and Wyard, 61, sees that pushing back retirement for several years.

Until then he plans to keep working, which is what every physically able boomer should consider doing, says USC’s Lawler.

Union membership, which has been declining for years, now includes only about 10 percent of all eligible U.S. employees, according to the Bureau of Labor Statistics. Meanwhile, the number of defined benefit retirement funds offered by private enterprise have fallen from about one in three employers in 1990 to about one in five in 2005.

With unions no longer in a strong position to fight for benefits like pensions, with jobs disappearing or going overseas, and with Gen Xers and even younger Millennial Generation members coveting their jobs, Lawler warns this is no time for boomers to quit and allow the skills they’ve spent a lifetime building to atrophy.

“My advice is above all don’t retire,” he says. “If you like your job at all, hold onto it. Because getting back in in this era is essentially impossible.”

It’s a crazy world out there, LIFE is good!!

Joe D.