Should You Delay Retirement?
Delaying retirement can increase your savings with another year of compounding returns and even a boost in your Social Security benefit, but can delaying retirement increase your chances of living longer?
A study from Oregon State University, the Journal of Epidemiology and Community Health, found an 11 percent lower risk of dying for those who delayed retirement by just one year past age 65.*
Retirement is a major transition for many people and may be a stressful life event. Whether you choose to work an extra year or deeply involve yourself in volunteer work with a structured daily work plan, the outcome to your mortality may be the same.
In reflection, we may have taken too lightly that working 40 years or more with the mental, physical and social engagement was so easily dismissed. Without having a planned substitute, the result may be more dire than once imagined.
Want to request more information on up-to-date financial strategies for retirement? Just ask – it’s never too early to prepare for what may be the best years of your life.
Source:* Klamp, Michelle, Oregon State University, Working longer may lead to a longer life, new OSU research shows, April 2016