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GRAPHS: Advantages of Getting Older

According to Political Calculations, one of my favorite blogs, the likelihood of you earning the federal minimum wage or less decrease consistently with your age. While 21.6% of 16-19 year olds make below the federal minimum wage, that number declines to 1.4% for those who are older than 65.

On top of that, you could be cashing in Social Security checks while having most of your medical expenses covered by MediCare. Your 401(k) and IRA could also be yielding a nice supplemental income too. While you are at it, you can use reverse mortgage to generate extra income on your home. Boy, getting old doesn't sound so bad afterall.

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