Monday, November 3, 2008

The Rich Live Longer

It should be no surprise that the rich do live longer than the general population. The IRS recently released Federal Estate Tax Returns Filed for 2004 Decedents. in which the following was stated.

The average age at death for men in the 2004 estate tax decedent population was 77.2, compared to 75.2 for men in the general population, while the averages for women were 82.0 and 80.4, respectively. This is consistent with research demonstrating that wealthier individuals live longer and are healthier than less wealthy individuals.

Figure C also shows the increasing longevity of both the estate tax decedent population and the general population over the past 12 years, particularly for men. In 1992, male estate tax decedents were 74.6 years old on average, about 2 ½ years younger than the average in 2004. For female estate tax decedents, the increase in longevity was slightly smaller, as female estate tax decedents in 1992 were an average of 80.2 years old, just less than 2 years younger than the average in 2004.

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