When you retire and how you retire are important.
You are dreaming about retirement.
Being done with the daily grind at age 62 sounds appealing, yes?
According to a recent MarketWatch article titled “Why early retirement can be a killer,” it may be less appealing than you think.
A study shows men who retire at age 62 and begin to take Social Security tend to die earlier as well.
How significant is this statistic?
The increase in death rate is 20 percent in males.
Does this same statistic hold true for females?
Women did not show this strong correlation.
Why is this?
There may be several reasons.
For starters, men who retire early tend to become more sedentary, while women tend to remain more active.
Men often pick up on harmful habits including heavier drinking and tobacco use.
Women are also better at maintaining relationships and social interactions.
Although you can begin taking Social Security at age 62, you are not required to quit working.
It may be wise to have a part-time job or volunteer to support a cause you find worthy.
Whatever choice you make about when you retire and take Social Security, you should also consider the "lifestyle" to which you will be retiring.
Being intentional about maintaining healthy habits and relationships will help you to live a longer and more fulfilling life in retirement.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: MarketWatch (March 24, 2018) “Why early retirement can be a killer”