Stress can cause serious problems. According to WebMD, stress could affect the body so much. Physical symptoms include low body energy and immune system, upset stomach, headaches, insomnia, and frequent infections. Cognitive symptoms on the other hand are racing thoughts, forgetfulness, constant worrying, poor judgment, and also inability to focus. While behavioral symptoms are procrastinating, changing in appetite and increased dependency on drugs, cigarettes and alcohol.
Given these effects of stress, it is understandable why at a certain age most professionals would feel the need to retire and spend the rest of their lives away from all the things that used to burden them so much. But negative elements like financial instability and fears are what hinder them to finally embrace the new life and beginning in front of them. So it is crucial to consider the best time to retire. Money-zine listed three timeframes that one can contemplate: early retirement, "on time" retirement, and late retirement.
Early retirement is defined as retiring from work before the age of 62. The disadvantages of retiring early are lesser time to accumulate the benefits for the retiree, and Social Security and pensions may not be issued immediately. Like with Social Security, full benefits will be available just until the retiree reaches the age of 62 and if will be collected earlier, benefits will be reduced.
"On time" retirement is between ages 62 to 67 and allows enough time to enjoy a fulfilling and healthy retirement. Benefits of "on time" retirement include more time to make a more substantial retirement fund, paying for health care insurance is no longer a priority, and the pension benefits of Social Security is un-reduced.
Last is late retirement with a retiring age past 65 years. Advantages include instant qualification for Medicare and in some cases would quality for an increase of Social Security benefits.
Retirement gives a lot of benefits, not just monetary, but also improved health. Yahoo Finance confirmed that a new study from National Bureau of Economic Research shows how retirement can improve a person's health and outlook in life.
There's no reason to feel negative about retiring. Instead embrace the new life positively and stay away from those that could make you feel unsatisfied.
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