In many cases, they just want to know what marketing material to aim in your direction. (Expect more ads about walkers, hearing aids and retirement homes and fewer about Gen Y stuff!) If you want to keep up a professional license or membership for a while, you may be able to do so at a discounted rate (and get some discounts as a result). However, if you are looking for credit, checking "retired" may hold you back. I would suggest setting up a HELOC prior to ER.