Apr 27, 2019
This week, we’re going back through the archives of the One Minute Retirement Tip to cover my hand picked favorites. I’m covering a wide range of retirement topics that you might have missed along the way. These are the episodes that I think give you the most useful information to help you on your path to retirement, all in about 1-3 minutes per day.
Today, we’re talking about the psychology of retirement and a big reason why you might want to keep working.
The #1 reason someone will retire earlier than they planned is because of poor health. They are forced into retirement, and that is a very unfortunate circumstance that you don’t really control.
But if you are one of the lucky ones who can decide when you’ll retire and especially if you don’t work in a physically gruelling career, the research suggests that working longer can keep you healthy.
A study from the Center for Retirement Research at Boston College found that working past the age of 65 reducing the risk of healthy people dying by 11 percent and unhealthy people by 9 percent for each year of delay."
Research also points to a decline in cognitive abilities after retirement, that people who are still working are less likely to experience. Work provides many opportunities for engaging your mind - learning, problem-solving, and reasoning - all of which help to combat the effect of aging on your brain.
Work also helps to keep us physically active, which has numerous health benefits.
So let me send you off into your day with this: If you are getting close to your transition into retirement, think about ways you can continue to challenge your mind, continue to learn, and keep yourself mentally sharp in retirement.
Thanks for listening.
I can’t wait to hang out with you again tomorrow morning, where we’re going to talk about the importance of structured time in retirement.
My name is Ashley Micciche and this is the “One Minute Retirement Tip”.
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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance, when to retire