By Carol Church, Writer, Family Album
Reviewed by Martie Gillen, PhD, Department of Family, Youth, and Community Sciences, University of Florida
If you’re like many older workers, you’re probably already considering the question of when to retire. Lots of factors can play into this decision, including family needs, health, and financial stability. But is there an “ideal” age to leave the workforce?
Some might say it’s better to keep working at long as possible. After all, our jobs provide financial security and a social network, and help define our identities. However, others would suggest that an earlier retirement reduces stress, increases family time, and boosts happiness. And some believe that the best option is simply to retire at age 62, when workers first become eligible for Social Security benefits.
A recent study in a research journal on aging followed more than 6,000 employed older adults for more than 15 years, keeping track of their physical health and emotional well-being and when they chose to retire.
Retiring around the typical age—62 to 67—seemed to work best. Rather than improving vitality and happiness, early retirement was actually linked to decreased physical and emotional health. Continuing to work past traditional retirement age didn’t have any major disadvantages, but didn’t seem to provide any health benefits, either.
As workers decide when to take this step, they’ll need to look at their own financial and health needs, as well as the needs of their family, and decide what works best for them. It may be helpful to know that in terms of mental and emotional health, retiring around the typical age of 62 to 67 seems to be helpful to most people.
(Photo credit: UF/IFAS file photo.)
References:
Calvo, E., Sarkisian, N., & Tamborini, C. R. (2012). Causal effects of retirement timing on subjective physical and emotional health. Journals of Gerontology Series B: Psychological Sciences and Social Sciences, 68(1), 73–84. doi:10.1093/geronb/gbs097
(Originally published in a slightly different form as: Church, C. (2013). What is the optimal retirement age? [Radio broadcast episode]. Family Album Radio. Gainesville, FL: University of Florida.)
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