[GELORA45] Retire at 55 and live to 80; work till you’re 65 and die at 67. Startling new data shows how work pounds older bodies.

[jonathango...@yahoo.com [GELORA45]]

 Retire at 55 and live to 80; work till you’re 65 and die at 67. Startling new 
data shows how work pounds older bodies. 
https://www.biznews.com/thought-leaders/2013/09/10/retire-at-55-and-live-to-80-work-till-youre-65-and-die-at-67-startling-new-data-shows-how-work-pounds-older-bodies/
 Here’s a very sobering piece from financial planner Alec Riddle, who looks at 
the relationship between how long you work and how long you’re likely to enjoy 
your retirement. Citing some interesting research, Alec argues that those who 
continue to work right up to the maximum retirement age tend to have shorter 
retirements than their peers who retire younger. This article will certainly 
make you think about your own retirement plans and strategy, especially if 
you’re like me and hoping to work until you’re 95. – FD
 http://biznewz.biz/wp-content/uploads/2013/09/Alecpic.jpg Alec Riddle: A 
Champion in both financial planning and sport. A1pretty good blogger too. By 
Alec Riddle*
 Imagine working as long as you possibly can, or until your maximum retirement 
age, to ensure you have sufficient funds for your Retirement, only to die 
within two years of retiring?
 An actuarial study conducted on some of the larger US Pension Funds including 
Boeing Aerospace, indicates that employees who retired at the age of 65, died 
within two years of retirement.
 Dr Ephrem (Siao Chung) Cheng provided the results from an Actuarial Study on 
the correlation between Retirement Age and Longevity.
 “Ten working years could cost you twenty years of your Retirement!”
 The studies were based on the number of Pension Fund cheques sent to Boeing 
retirees. The Boeing experience was that employees retiring at age 65 received 
pension cheques for 18 months, on average, prior to death. A similar experience 
was discovered at Lockheed Martin, where on average, employees received pension 
cheques for just 17 months.
 Apparently the experiences at Ford Motor Company and Bell Labs were similar to 
those of Boeing and Lockheed. Statistics at a pre-retirement seminar 
illustrated that the average age of retirement at most large corporations in 
the US was 57. So people retiring at age 65 are a minority, but it is still a 
startling statistic.
 The thought is that the hard working late retirees (65) are more than likely 
putting too much stress on their ageing bodies and minds and due to the stress, 
they develop a variety of health problems. The associated stress induced health 
problems lead to them dying within two years of retirement.
 Another startling statistic from the same Corporations is that those who 
retire earlier, say age 55, tend to enjoy their retirement on average for more 
than 25 years. The chances are that those able to retire earlier have less 
stress, have planned and managed their lives better, with respect to finances, 
health and career and are able to retire comfortably.
 One important observation is that these younger retirees (55) aren’t 
necessarily idle in retirement, but they are far less stressed than their 
working counterparts from age 55 to 65. This means they may be busying 
themselves with part time work, hobbies and things they enjoy doing, so much so 
that ‘work’ becomes fun and is done at a more leisurely pace.
 Conclusion:
 People should plan their careers and their finances, enabling them to retire, 
or at the very least be financially independent, as early as possible. This 
will ensure they are able to enjoy a longer, happier and more leisurely 
retirement to age 80 and beyond.
 Don’t switch off and be idle when you retire. You can still do things that are 
of interest to you, or you can get involved in things that are of value to your 
community, all at a pace you feel comfortable with.
 The flipside of the coin is that you may have to keep on working very hard and 
under stress, till age 65, before you retire. In that case and if the actuarial 
studies of some of the world’s largest Corporations hold true, then the chances 
are that you would probably die within a few years of retirement.
 In a nutshell, by putting in 10 more ‘hard’ years, after the age of 55, you 
could potentially forfeit 20 years of your Retirement. Or saying it 
differently, for every year you work beyond the age of 55, on average one 
forfeits two years of life span.
 
 * Alec Riddle was recognised by the industry as an authority on Financial 
Planning, when he was crowned the FPI/Personal Finance Financial Planner of the 
year for 2009/10, after being named a finalist in 2008. Has a BA degree, 
majoring in Mathematics, from the University of Port Elizabeth, successfully 
completing his Post Graduate Diploma in Financial Planning in 2005 through the 
University of Free State and became a Certified Financial Planner.  In addition 
to being awarded SA colours in 3 sporting disciplines, he also coached numerous 
national champions and Olympians and qualified for the World Iron Man Champs in 
2011/12 and was World Champion in his age category in 2011. Read more of Alec’s 
writing by clicking here. https://plantoretire.wordpress.com/