THE CHALLENGING FACTS OF
AVERAGE LIFE HISTORIES
Theory or optimism is one thing regarding saving and its vital place in human economy—but the cold, hard facts, checked after the funeral is over, are quite other things. Even in a land of comparative plenty like America the baring of the secret closets of life indicates how men and women live and die in relation to financial dependence or independence.
The American Bankers’ Association made an analysis some few years ago as regards 100 average men, which rips the doors open. The average situation at various ages, for men only, is as follows:
- Age 25
- 100 Average men, healthy and vigorous in mind and
- body and dependent upon their own exertions
- for their support.
- Age 35
- 5 have died
- 10 have become rich
- 10 are in good circumstances
- 40 are in moderate circumstances
- 35 have not improved their condition
- Age 45
- 11 more have died, 16 in all
- 4 only are rich, all the others rated at age 35
- as having resources having lost their accumulation
- 65 are still working, and are self-supporting,
- but without other resources
- 15 are no longer self-supporting owing to illness,
- accident, etc., a few still earning something
- but not enough for self-support
- Age 55
- 4 more have died, 20 in all
- 1 has become very rich
- 3 are in good circumstances, but not the same
- 3 quoted at age 45, for one who was rich at
- 45 has lost everything, and another not
- rated rich at 45 has taken his place
- 46 still are working for their living, without
- any accumulation
- 30 are now more or less dependent upon their
- relations or upon charity for support; some
- still able to do light work are being replaced
- by younger men
- Age 65
- 16 more have died, making 36 in all out of 100
- 1 is still wealthy
- 3 are rich, 1 of those who lost everything before
- 45 having again become rich
- 6 still at work; self-supporting
- 54 are dependent upon children, relations or charity
- Age 75
- 27 more have died, making 63 in all, 60 of
- whom left no estate
- 2 only are rich, three who were rated as rich
- at 65 have lost their accumulation
- 35 are dependent upon children, relatives or
- charity. These old men will die off rapidly,
- but their financial condition will not improve,
- and 33 of them will not have sufficient means
- to defray funeral expenses unless insured