RETIREMENT

Maria Garcia, Lené Krass, and Chelsey Stephens

DECIDING WHEN TO RETIRE

Assumption that older people were more healthier and happier

Retirement led to illness and death 1980’s US Legislators outlawed mandatory

retirement (except for airplane pilots) Half of people retire before age 6o and only

23 % of those aged 60-64 are still working Social Security payments increase for people

who wait until age 70 to stop working. More likely to make older adults happier.

RETIREMENT AND MARRIAGE

Best to retire together Study of 790 retirees, aged 57-67, most were

happy with retirement If wife is still working when husband retires

causes stress on relationship Two main sources of satisfaction: work and

home Activity and leisure

AGING IN PLACE

Age in place

Naturally occurring retirement community

Living alone

Do more housework

COPING WITH RETIREMENT

Continuing Education

Volunteer Work

Religious Involvement

Political Activism- AARP

CountryEarly

retirement age

Normal retirement

age

Employed, 55–59

Employed, 60–64

Employed, 65–69

Employed, 70+

Austria 60 (57) 65 (60) 39% 7% 1% 0%

Belgium 60 65 45% 12% 1% 0%

Denmark none 65 77% 35% 9% 1%

France 62* 65* 51% 12% 1% 0%

Germany 65 67 64% 23% 3% 0%

Greece 57 65 51% 31% 8% 1%

Italy 57 65 (60) 34% 12% 1% 0%

Netherlands 60 65 53% 22% 3% 0%

Norway 62 67 ? ? ? ?

Spain 60 65 46% 22% 0% 0%

Sweden 61 65 78% 58% 5% 1%

Switzerland 63 (61), [58] 65 (64) 77% 46% 7% 2%

United Kingdom

none 65 69% 40% 10% 2%

United States 62 67 66% 43% 20% 5%

Retirement in Specific Countries

ACTUARIAL STUDY OF LIFE SPAN VS. AGE AT RETIREMENT

Age at Retirement

Average Age At Death

49.9 86

51.2 85.3

52.5 84.6

53.8 83.9

55.1 83.2

56.4 82.5

57.2 81.4

58.3 80

59.2 78.5

60.1 76.8

61 74.5

62.1 71.8

63.1 69.3

64.1 67.9

65.2 66.8

KIDS AND RETIREMENT

WHAT IS AARP?A U.S. Organization of people aged 50 and

older that advocates for the elderly.