“Slap in the Face” Award: Retiring at 62 Years Old

Steve McDonald
by Steve McDonald

Welcome back to the “Slap in the Face” Award. This one will knock your socks off. It goes out to the majority of Americans who, despite all the advice to the contrary, retire at 62.

The more I read about retirement, the less I understand why the heck we are in such a rush to get there.

We already know that if we become less active, both socially and mentally, we lose our skills more quickly. Our faculties fail if we don’t use them.

We also know we lose business and social contacts within three years of retiring and begin to live a more solitary life, which we know is bad for us. And then we lose our work identity.

And the list of not-so-nice things about retirement just keeps piling up.

Here are a couple new ones…

Most of us are broke in retirement. Fifteen percent of people over 65 live in poverty and half live near poverty. Why am I not surprised?

The golden years are not so golden.

Most retirees won’t admit it but, according to the research, retirement isn’t any better than working. The American Institute of Stress reports that retirement is ranked as the No. 10 biggest stressor out of 43 possibilities.

University of Chicago research indicates that loneliness in retirement is responsible for 14% of premature deaths.

Doesn’t this sound great so far?

Healthcare costs are through the roof. Most will require about $220,000 just for healthcare from age 65 to the end of their lives.

And, according to the National Center on Caregiving, the number of retired persons who are being cared for by their children has tripled in the last 15 years. And the bulk of boomers haven’t even made it to their golden years yet. In fact, the transition has just begun.

Only 31% of retirees report being able to do the traveling they listed as a top priority when they were planning to retire. In fact, most report traveling more in the last five years they worked than in retirement.

But, despite all the gloom for most retirees, there is one positive. Most still have sex at least once a week well into their 70s. Seventy-five percent of men and half of women are still getting it on.

And, if you know anything about percentages, that means some are having a lot more fun than others.

Maybe we need to rethink this whole retirement thing. I got depressed just writing this.

Retired? Prepping for retirement? Have a comment for Steve? Leave your thoughts below.

comments powered by Disqus