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The Long Lasting Benefits Of Retirement

Last update on: Jun 05 2020
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Two researchers at Clemson University, where I spent my undergraduate years, concluded that retirement brings long-term happiness and better health to most people. There are exceptions of course, but their studies found that most people benefit from retiring, and the benefits last.

“Unlike happiness, improvements in health are realized over time. Because health typically changes slowly over time, the improvements aren’t noticed sometimes until four years after retirement, Aspen Gorry said. “A number of mechanisms could trigger the health improvements over time. For example, people may exercise more, or they’re sitting less and another could be the absence of stress that came from their workplace.”

Devon Gorry said the study’s findings, soon to be published in Health Economics and currently a working paper with the National Bureau of Economic Research, should be of interest to anyone making a retirement decision, and to Washington policymakers considering raising the age for Social Security eligibility.

 

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