Retirement is a subject that concerns many. Most people are worried about whether or not they will have enough money to last them the entire length of their retirement.
Recent studies may add to that worry, as evidence suggests that an early retirement could lead to an even longer life – increasing the need for more cash-flow.
Retirement Pros and Cons
Some may argue that it is common sense for retirees to expect better health conditions after they have freed themselves from the tensions caused by everyday life in the workplace. Stress is certainly reduced, but for many, there is a great loss that comes with retirement.
One recent study was conducted by economists from the Netherlands. They set out to gather data on Dutch citizens and compare it to that of other countries like the United States, Israel, and Germany where similar studies have also been conducted.
The study found that people who have worked their entire lives often begin to feel listless and lethargic without a sense of purpose to guide them. These negative repercussions are precisely why scientists and economists alike have been looking into the subject.
Different studies have produced conflicting findings. A lot of this has to do with variation in retirees. For example, a European study found that those who retire from physically challenging jobs like construction are more likely to become obese upon retirement due to a massive reduction in daily activity.
Another study sought to discover what kinds of physical and mental health effects can be attributed to retirement. Researchers found that retirement leads to an increase in both illnesses and difficulty with mobility, as well as a decrease in mental health. These effects were particularly prevalent in participants who were unmarried, did not engage in physical activity, and did not continue to do any work after retirement.
Although results of such studies vary widely, one consistency is that continued involvement and activity post-retirement often has positive impacts on a person’s health. This suggests a strong correlation between how you spend your retirement and how long you can expect to live through it.
CKS Retirement Planning Professionals
Sadly, Time reports that one in three Americans say they have no retirement savings at all. In order to spend your retirement exactly as you would like to, you need a comprehensive retirement income plan.
At CKS Summit Group, all of our advisors have the knowledge and experience necessary to help you build a dynamic portfolio that will ensure your financial success throughout the length of your retirement. We are here to ensure that you do not ever worry about running out of money during your retirement.
Contact us today to schedule your own personal strategy session with one of our retirement income planning professionals. Thank you and we look forward to working with you in the near future.