Some people daydream about retirement when they’re having a really stressful day at work. You’re not the only one! When to retire isn’t just about having enough money; it’s also about getting the most out of your health and longevity. After all, what’s the point of retiring if you can’t enjoy it?
As a blogger on financial wellness, I’ve seen clients struggle with this choice for years. Today, I want to share some shocking facts about how your retirement age could affect your health and length of life. The research might surprise you!.
The Health-Retirement Connection: What Research Tells Us
Let’s get straight to the point studies show a fascinating connection between when you retire and how long you might live The Health and Retirement Study (HRS) reveals something interesting—people who retire later often experience better health outcomes.
Men who retire at age 62 are more likely to die than men who wait until age 65 or older. That’s not just a coincidence!.
Why? Because working keeps you:
- Mentally stimulated
- Socially engaged
- Physically active (even if it’s just walking to meetings)
- Following a structured routine
But don’t panic if you’re planning to retire early! This isn’t a one-size-fits-all situation.
Breaking Down Your Retirement Age Options
Early Retirement (Before 65): Freedom vs. Health Risks
The Good Stuff:
- More time for hobbies and passions while you’re still active
- Escape from work-related stress (a big plus if your job is killing you!)
- Flexibility to pivot to passion projects without financial pressure
The Health Challenges:
- Potential loss of daily structure and purpose
- Reduced social interactions (those water cooler chats actually matter!)
- Medicare doesn’t kick in until 65, so health insurance can be expensive
- May need more substantial savings to support healthcare costs
One client of mine, Chris, retired at 52 due to a generous early retirement package. Within six months, he felt isolated and was sleeping until noon. His blood pressure actually increased despite leaving a “stressful” job! He eventually started volunteering three days a week, which gave him back some structure and social connections.
Traditional Retirement (65-67): The Balanced Approach
The Health Benefits:
- Medicare eligibility begins (hello, affordable healthcare!)
- Full Social Security benefits become available
- You’ve had more time to build financial security, reducing stress
- Still young enough to enjoy active pursuits like travel
The Downsides:
- Fewer years to enjoy retirement activities
- Possible job burnout if you’ve stayed too long
This timing hits a sweet spot for many people. Marilyn Suey, a certified financial planner, notes that “This is not your parents’ or grandparents’ retirement.” Many people now see this as a time to start a second act rather than just sitting at home.
Late Retirement (70+): The Longevity Boost
The Health Advantages:
- 8% increase in Social Security benefits for each year you delay past full retirement age
- Continued mental engagement and social interaction
- Research shows staying in a positive work environment can foster a sense of purpose
- More financial security = less stress about running out of money
The Potential Drawbacks:
- Less time to enjoy retirement activities
- Risk of missing out if health declines
Steve Parrish, an adjunct professor at The American College of Financial Services, continues working past 70 and notes: “It not just helps financially, but it helps mentally.” Many people genuinely enjoy their work and find it gives their life meaning.
What’s Your Health Profile? It Matters!
Your current health status is SUPER important in this decision. If you have a long-term illness or a job that is hard on your body, retiring early might be better for your health.
Consider these factors:
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Chronic Health Conditions: Conditions like diabetes, heart disease, or arthritis might make it harder to continue working and might benefit from earlier retirement.
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Job Physical Demands: Construction workers experience different physical stresses than office workers. High-physical-demand jobs might warrant earlier retirement.
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Mental Health: If your job causes significant stress or anxiety, retiring earlier could improve your wellbeing.
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Family Health History: This can give clues about your potential longevity and health challenges.
The Social Component: Don’t Underestimate It!
One of the biggest health risks in retirement? Loneliness! Research consistently shows that social isolation increases mortality risk similar to smoking 15 cigarettes a day. Yikes!
When you leave work, you’re also leaving:
- Daily interactions with colleagues
- Regular conversations
- A sense of belonging to a team
- Shared goals and achievements
This explains why some retirees experience depression or cognitive decline after leaving the workforce. Your retirement plan needs to include strategies for staying socially connected!
Financial Stress vs. Health: Finding Balance
Let’s be real—money worries can wreck your health through chronic stress. Retiring too early without adequate savings can lead to:
- Anxiety and sleep problems
- Higher blood pressure
- Compromised immune function
- Poor healthcare decisions (skipping appointments to save money)
Working a few extra years (even just 2-3) can dramatically improve your financial security through:
- Additional retirement contributions
- Delayed withdrawal from retirement accounts
- Higher Social Security benefits
- Fewer years needing to stretch your savings
What’s The Magic Number? It Depends!
After looking at all the research, I can’t give you a one-size-fits-all answer. However, there are some patterns worth noting:
- For Maximum Health Benefits: Ages 65-70 often provide the best balance of financial security and health outcomes for most people
- For Those With Health Issues: Retiring earlier might be better if work is damaging your health
- For Those Who Love Their Work: Continuing past 70 in a reduced capacity might provide mental and social benefits
My Professional Recommendation
Based on all this research and my experience working with retirees, here’s what I recommend:
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Consider a “Phased Retirement”: Rather than an abrupt stop, gradually reduce work hours. This gives you time to build new routines and social connections while maintaining some work benefits.
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Focus on Purpose, Not Just Leisure: The healthiest retirees have meaningful activities that give them reason to get up in the morning.
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Plan for Health Costs: Make sure your retirement budget includes substantial allowances for healthcare.
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Stay Socially Connected: Join clubs, volunteer, take classes, or find part-time work that keeps you engaged with others.
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Keep Moving: Physical activity becomes even more important after retirement.
Real-Life Success Stories
My client Martha retired at 67 after a teaching career. She immediately began volunteering at a literacy center two mornings a week, joined a hiking club, and started taking art classes. At 75, she reports better health than she had at 60!
Meanwhile, Bob retired at 58 from a stressful banking career without much planning. Within a year, he gained weight, became depressed, and his doctor noted concerning changes in his blood work. After joining a men’s group and finding part-time consulting work, his health markers improved significantly.
Making Your Decision
When deciding your ideal retirement age for optimal health, ask yourself:
- Do I have meaningful activities to replace work?
- Will I maintain social connections?
- Is my financial situation secure enough to prevent stress?
- How’s my current health, and is my job helping or hurting it?
- What does my family health history suggest about my longevity?
Final Thoughts
There’s no perfect retirement age that works for everyone’s health. The key is creating a retirement that includes purpose, social connection, financial security, and physical activity—regardless of when you leave the workforce.
The healthiest retirement isn’t determined by age but by how well you transition to this new phase of life. Whether you retire at 50, 65, or 75, what matters most is what you retire TO, not just what you retire FROM.
What are your thoughts on the best retirement age for health? Have you seen differences in the health of early versus late retirees? I’d love to hear your experiences in the comments!
Disclaimer: This article provides general information and shouldn’t be considered personalized health or financial advice. Always consult with healthcare providers and financial advisors when making important retirement decisions.
Pros and Cons of Late Retirement
Many people find benefits in retiring after 65. It can mean more savings and better health care options. But, staying longer at work can also be hard on your body and mind. Plus, you might miss out on time with family and friends.
Can delaying my retirement benefit me financially?
Yes, it can make sense to delay taking out from your 401(k) or other retirement savings as they continue to grow tax-deferred. Also, waiting might increase your Social Security benefits.
WHAT’S THE BEST AGE TO RETIRE?
FAQ
Do you live longer if you retire early?
What is the happiest retirement age?
About a third of people say the best age to retire is between 65% and 26%, while 22% say it’s best to retire at 65% or older.
At what age does it most benefit you to retire?
If getting Medicare means everything to you, 65 is a good age to consider. How much time do you have before you might retire?.
What is a nice age to retire?
“Most studies suggest that people who retire between the ages of 64 and 66 often strike a balance between good physical health and having the freedom to enjoy retirement,” she says. “This period generally comes before the sharp rise in health issues which people see in their late 70s.
Which retirement age is best for You?
Some people want to retire early, at age 50, to have more freedom, while others want to wait until age 65 or even 70 to be financially safe. The reality is that there’s no one-size-fits-all answer. This post will talk about the different retirement ages and help you choose the best one for you. 50 vs. 65 vs. 70+ – Which Retirement Age Wins?.
How old do you have to be to retire?
Men retire at an average age of 64.6 years, while women remain at work until age 62.3. Retirees at the age of 65 qualify for Medicare benefits. As part of SECURE 2.0, Congress raised the age at which retirees are required to make minimum distributions on select retirement accounts. The required age is now 73 years old.
When should I retire?
Deciding when to retire is a personal question that depends on your health, life expectancy, financial needs, and individual circumstances. Different benefits and retirement plans have key dates tied to your age, such as Social Security benefits and required minimum distributions.
Is 65 a good age to retire?
Traditionally, 65 has been considered an ideal age to retire, but when and how people retire seems to be changing. “This is not your parents’ or grandparents’ retirement,” says Marilyn Suey, certified financial planner and founder of The Diamond Group Wealth Advisors in San Ramon, California.
What is a good age to retire from Social Security?
The original rules for Social Security benefits assumed 65 as the common age for retirement. In 2022, the full retirement age was raised to 66 for those born between 1943 and 1959, and 67 for anyone born in 1960 or later. The actual average age for retirement for men is 65 and 62 for women.
Should you retire early if you have health issues?
If you’re in strong health and have a family history of longevity, you may plan for a longer retirement and delay leaving work. Health issues, on the other hand, may push you to retire earlier to preserve quality of life during your most active years, which may require a larger financial cushion. Your connection to your job also matters.