Robert Redford recently stated that “retirement can lead to death, and that’s not for me.” The science seems to be split on whether working in retirement is good for you.
So, should you work in retirement? Or just take it easy? Steve has the answer in this week’s Two-Minute Retirement Solution.
TRANSCRIPT
Robert Redford was recently quoted as saying, “I think retirement can lead to death, and that’s not for me.”
And according to a Merrill Lynch survey, as many as seven out of 10 working people over 50 plan to work in retirement.
That study found that 62% of retired persons do not work for the money, but to stay active.
But there are questions about whether this “work throughout your retirement” idea is actually good for you.
According to research out of the Netherlands, retiring from work at age 55 compared to retiring a few years later significantly reduces the likelihood of dying within five years of retiring.
But another recent study found just the opposite. In that study, retiring just one year earlier causes a 13% increase in probability of dying before age 67.
And another Austrian study found no relationship between when you retire and how long you live.
The explanation for most of the confusion is that in many cases, health is the determining factor of when we die and when we retire. They believe this caused some confusion in earlier studies.
The three factors that do determine how long we live in retirement and have support across the board are staying mentally and physically active, having a purpose in life, and maintaining a robust social network.
Sounds like a healthy retirement will be as busy as working.
Good investing,
Steve
How does work factor into YOUR retirement? Share your thoughts in the comment section below.