early-retirement

Can Early Retirement Add More Years to Your Life?

Your retirement years are supposed to be the time of your life where you get to enjoy yourself after working for many years. It’s that time when you’ve had a successful career, repaid your student loans and hopefully eliminated all of your other consumer debts as well. Being able to retire early is something many individuals dream about being able to do, and studies have shown that stopping work at a younger age could be the ticket to living longer as well.

Study Results

A study was performed in 2017 in the Netherlands and the results thereof were published in the Health Economics journal. It indicated that men who were able to retire before age 60 were up to 3% less likely to die within the first five years after stopping work than men who only retired after 60 or 65. No conclusive evidence was provided with regards to how early retirement affected women, unfortunately. 

Another study undertaken at the University of Wisconsin revealed that retired individuals got to enjoy more leisure time, which in turn helped several of them to adopt healthy habits such as exercising more, quitting smoking and altering their diet patterns – all of which led to them being able to live longer. This particular study involved men and women and it clearly indicated that early retirement could significantly impact a person’s wellbeing. 

A Potentially Conflicting Study

Despite all of the evidence from the above-mentioned studies, an alternative study that had its results published in the Journal of Epidemiology and Community Health revealed opposing information. Researchers involved in this study made mention that individuals who worked for a year more than their peers were up to 11% less likely to die at an earlier age. However, the study size was particularly small and focused almost entirely on men.

A study that was similar to that undertaken at Wisconsin University noted that retirement could in fact have a negative effect on the health and longevity of men. It stated that retired men stood up to a 12% chance of becoming obese within just four years of retiring early – which would in turn cause several other health issues to develop. 

Keeping Active

If it’s one thing the studies all revealed, it’s that it is extremely important for anyone who retires to find some type of purpose. While some individuals will find it absolutely thrilling to embark on a new life, others will feel empty or lost and think they no longer have anything to offer anyone. 

Hobbies and other outside interests are crucial, as is a decent retirement nest egg – these will help prevent the onset of stress and depression that is usually associated with worrying about finances. It’s also important to remember that everyone’s retirement paths are different, so never compare yours to anyone else’s. 

Although it’s fairly inconclusive whether retiring early will help you live longer or not, the fact remains that you need to do everything possible to make this time of your life pleasant and enjoyable. If you would like to ensure that your nest egg will be large enough to see you through retirement, contact us today.