Retiring Early Can Be Deadly, Especially for Men

As another year draws shortly to a close, many people are taking stock of their lives and considering what lifestyle changes in 2018 will bring more joy, less stress and better health.  And older adults thinking about taking an early retirement, especially men, should take note of a new study that links early retirement with a spike in death rates.

Researchers at Cornell University and the University of Melbourne recently studied the effects of retirement on the health of older adults in America and found a 20 per cent increase in mortality rates among men who retire when they turn 62, the earliest age they can start collecting social security benefits.   Nearly a third of U.S. adults claim retirement benefits starting at 62 but single and divorced men and men who did not complete high school experience a higher death rate.

The study suggests that men who retire early may “engage is more unhealthy behaviors once they retire,” contributing to an early death;  women appear to be less likely to experience these lifestyle changes after retirement.

Retirement can be a stressful event like any major life change and social isolation, financial challenges and a lack of purpose can contribute to loneliness, depression and poorer health.  Planning well for a successful retirement is important to stay active, socially engaged and find meaning in life after decades in the work force.  Many seniors take part-time jobs that allow them flexibility and an added source of income or participate in volunteer work that gives purpose to their lives.  Focusing in on a hobby that can evolve into a second career or learning a new skill is also possible with increased longevity and better health in old age.

Without a sense of purpose after retirement, older adults may suffer depression the longer they remain unemployed or disconnected from their community.  According to a report from the U.K Institute of Economic Affairs, retirement increases the risk of clinical depression by nearly 40 per cent and the chance of being diagnosed with at least one physical illness by 60 per cent.  About a quarter of U.K. retirees return to work within 5 years of retirement and this trend is rising among older workers.

Heart attack and stroke rates also spike among older adults shortly following retirement but tend to even out after the first five years.  Although a case can be made that those who died after retiring early may have had underlying health problems already, a growing number of studies are finding that working longer results in living longer. 

To read more about the Mortality Effects of Retirement study, follow this link to the National Bureau of Economic Research.