U.S. lawmakers are finally starting to talk seriously about making changes to Social Security that will help the system remain solvent longer.
Of course, it took a major financial crisis before these conversations became acceptable on Capitol Hill, but I won’t hold that against the lawmakers. In our country, it’s impolite and awkward to bring up serious topics unless there is an urgent need for action (e.g. talking to your children about sex on prom night or telling your boss about the now-rotting tuna sandwich you forgot in her desk drawer).
Left untouched, Social Security will run out of money in 2039, which under current rules will be during my first year of retirement. I either need to start saving now, or plan on coming out of retirement when I’m 68 (middle-weight masters yoga kickboxing, anyone?).
The first change being considered by lawmakers is raising the age for full retirement benefits to 70. This would not affect anyone in the near future, but would still give a much-needed financial boost to Social Security.
Given that the life expectancy in the U.S. (males and females combined) was 77 years in 2006–several years greater than when Social Security was founded in 1935–it makes sense that we should be able to work longer before receiving full retirement benefits. The sad fact is that many people will be unable to work this long because of ill-health, often due to preventable chronic diseases.
According to the Centers for Disease Control and Prevention, six out of 10 American adults have a chronic disease, and four out of 10 have two or more.
Many of these people are limited in their daily activities as a result of their condition.
Chronic illnesses are an incredible drain on the health care system, in spite of being the most preventable forms of disease. Included in this list is heart disease, stroke, cancer and adult-onset diabetes.
Keep this in mind when the debates about health reform come up, which actually have very little to do with health at all. Much of the emphasis of the health care overhaul is on dealing with the outcomes of chronic disease rather than on how to help Americans live longer, healthier, and more productive lives.
For example, never in my 39 years has either my doctor’s office or health insurance company contacted me to remind that I was due for a routine check-up; these are essential in the prevention of chronic diseases, as well as reducing the long-term cost.
My veterinarian, however, sends me reminders every year about my cats’ annual checkup. I may need to switch my primary care to the veterinary clinic, although I’m just a little anxious about spending time in a metal cage with other patients barking at me.
Likewise, my doctor has never talked to me about my physical activities or diet, other than to inquire what I was doing when I broke my toes (okay, it was acro-yoga, but don’t tell anyone). Thankfully, we have covered some of the more ominous risk factors, such as smoking and unprotected sex, but the topic of my addiction to cookies never comes up.
Given that one in three adults are obese, doctors should be dragging us by the straps of our dressing gowns to the athletic field with our chubby bottoms flapping in the breeze for some physical activity.
So what does all of this have to do with Social Security? Most financial planners tell their clients that they should plan for retirement as if Social Security will not exist, which given the current state of the federal budget is excellent advice.
Likewise, you need a plan for your health, both physical and mental, that does not involve pharmaceutical and technology conglomerates coming up with a cure for the chronic diseases that you will face after decades of poor diet, lack of exercise and inability to deal with stress in your life.
Also, in case you were considering it, cryogenics is not a viable option, unless you don’t mind having that funky freezer taste when you are revived.
The longer you wait for financial or health planning, the more difficult it will become as you grow older. So go slip on a backless gown, take a long look at yourself in the mirror and make a plan today.
