Tag: health
In Memoriam; or, Getting Personal
Last week I finally said goodbye to my Nan. I wouldn’t normally blog about something so personal, but her influence has guided so much of my academic career to date that she deserves a mention. Besides, the academic and the personal aren’t so easy to separate as we might imagine. History is written by people. Historians are […]
Heart Disease – Indicators
Foods that lower blood pressure
Blood Pressure – how low?
List of Most Common Cancers We Are More Prone To As We Age
1 Skin Cancer
2 Breast Cancer
3 Prostate Cancer
4 Lung Cancer
5 Colorectal Cancer
Why?
We are Most Likely to Retire Early Due to an Age Related Decline in Our Ability
Why do some Americans retire early, some late and some penny-less?
Reasons why some say people retire early is due to:
Changes in Health:
Examples: Those who face a health shock may retire with insurance and benefits, while others may have to wait until their Medicare or benefits become available.
Employment Changes:
Examples: Shifting employers, loosing a job or business closings.
Familial Changes:
Examples: Spouses retirement, changes in marital status, resident child leaving the home.
When planning for retirement we often underestimate the amount of decline in ability that we may have. Along with the above reasons for early retirement you can even consider a dislike for a job, divorce, elderly parents needing care and a need to spend time with grandkids.
It seems like most people who retire early do not anticipate it – this also shows that they were bad at planning.
We are more likely to retire early due to age-related declines in our abilities
Self sufficiency is the best gift we can give ourselves.
A Quarter of our Baby Boomer Generation is Expected to be “Elder Orphans”
Signs your loved one may need a caregiver
Checking Social Security Benefits Can Help You Plan For Retirement
The Social Security Administration keeps a database of your earnings and work credits by tracking your social security number. A social security statement is available to anyone over the age of 25. This statement provides you with an estimate of your benefits that you will receive upon retirement. The SSA mails out a statements every 5 years after the age of 25, once you are age 60 – you should receive one every year.
Check your social security benefits online at:
http://www.ssa.gov/mystatement/
You need to check the math. The SSA made
To correct errors you need to contact the SS helpline at:
800-772-1213 M-F 7:00am-7:00pm
You can also make an appointment at your local social security office to speak to someone in person.
Retirement benefits will depend upon your full retirement age.
The longer you wait to receive benefits the greater your benefit amount will be.
Waiting until your full retirement needs to make sense – if you have an unlikely illness that won’t allow you to live past 75 or so, you may be better off collecting your benefits sooner rather than later. You may also need the benefits for living expenses.
You can use a calculator at the social security website to see which retirement age makes the most financial sense for you at:
After Retirement 