We consider a joint sampling and compression system for timely status updates. Samples are taken, quantized and encoded into binary sequences, which are sent to the destination. We formulate an optimization problem to jointly design sampler, quantizer and encoder, minimizing the age of information (AoI) on the basis of satisfying a mean-squared error (MSE) distortion constraint of the samples. We prove that the zero-wait sampling, the uniform quantization, and the real-valued AoI-optimal coding policies together provide an asymptotically optimal solution to this problem, i.e., as the average distortion approaches zero, the combination achieves the minimum AoI asymptotically. Furthermore, we prove that the AoI of this solution is asymptotically linear with respect to the log MSE distortion with a slope of $-\frac{3}{4}$. We also show that the real-valued Shannon coding policy suffices to achieve the optimal performance asymptotically. Numerical simulations corroborate the analysis.
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