Can Early Retirement Lengthen Your Life?

Research conducted by the University of Amsterdam found that early retirement might potentially enhance longevity. In their study of male Dutch civil servants over the age of 54, the authors found that those who took early retirement were 42% less likely to die over five years versus those who continued to work.

While the research was correlational, preventing the determination of any causal relationships, the researchers articulate two hypotheses regarding potential reasons for this surprising finding. First, they postulate that early retirement could free up additional time and energy for retirees that could then be invested in health-related pursuits. They might, for example, exercise more frequently and go to the doctor on a more regular basis — or spend extra time catching up on sleep and preparing healthy meals at home.

Another reason early retirees may live longer is the potential stress-level reduction resulting from leaving a particularly demanding job. This explanation was supported by their observation that the retirees in their study were significantly less likely to die due to heart disease or stroke.

And The New York Times reports that approximately seven retirement years can as good for wellbeing as lowering the likelihood of receiving a diagnosis of a serious disease by 20%. But despite some of these findings, it’s also important to consider some potential benefits of continued employment, including:

• Sustaining important social connections.
• Maintaining a sense of purpose.
• Additional income and resources.
• Enhanced self-esteem.
• Ongoing growth and learning opportunities.
• Continuation of positive daily routines.

Of course, any benefits realized will depend on a number of factors, including how personally rewarding and challenging a person finds his or her job. And many of the above benefits might also potentially be derived from engagement in other types of pursuits such as volunteer work or increased involvement in family activities.

The decision as to whether to continue working or retire early is a very personal one, and there will likely be pros and cons to either choice you make. As you approach retirement, start considering all the advantages and disadvantages well ahead of time. Discussing the issue with friends, family and even your personal physician may be helpful.

If you opt for early retirement, it’s very important that you’re financially prepared to meet your needs. If not, the stress and problems you might encounter could overwhelm any other potential benefits. This is why it’s particularly important to discuss the options with your financial planner before making any long-term decisions.

Sources:

https://www.cnbc.com/2018/03/27/how-research-shows-you-can-live-longer-if-you-retire-early.html