In the News – The Case Against Early Retirement
Is retirement all that it is cracked up to be or will it crack you? The Wall Street Journal’s article
by Richard W. Johnson makes you think twice about retiring. Johnson weighs the pros and cons of retiring at age 62.
Johnson urges you to take the time to think about what you will be doing when you retire. Will you still be involved with social groups similar to your work environment or will you be isolated somewhere away from societal norms? Changing your environment may be good for you if your work life is stressful. However, if you choose to segregate yourself from others it can lead to decline in not only mental health but physically as well. Johnson references a number of studies that show dementia being much less common in people who retired later. Postponing retirement has its financial benefits too, but do financial benefits outweigh mental and physical health?
Johnson explains how there is an end goal in sight when it comes to retiring and how important it is to have a plan for when you retire. Your retirement plan should include focusing on what you replace your time with. Unfortunately, bad habits arise with idol time, you may find yourself eating, smoking and napping more. Keeping your brain and body busy are the keys to taking advantage of retiring and prolonging your life. Many people choose to spend their time during retirement volunteering, spending time with family and pickup up hobbies. These activities will make your retirement more worthwhile and satisfying so that you don’t become restless.
Are you debating if you should work another year or two before retiring? Consult with the trusted lawyers at Pankau Law. Schedule your free initial consultation today!
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