Bloomberg says ER bad for your and nation's health

[kmt1972]

Bloomberg does not seem to like ER. We have

Retirement Will Kill You - Bloomberg

Researchers at the Institute of Economic Affairs in the U.K. have also recently identified “negative and substantial effects on health from retirement.” Their study found retirement to be associated with a significant increase in clinical depression and a decline in self-assessed health, and that these effects grew larger as the number of years people spent in retirement increased.

Then we also have

Are Americans Saving Too Much or Too Little? - Bloomberg

...the economy's weakness can be attributed to excessive saving by households and businesses. In response, these economists recommend that governments push their citizens to save less.

Where the nation's economic health is hurt by people saving for ER

 

[Andre1969]

I guess there is some truth to it on the obvious level, when you consider that once you're retired, you're probably not paying into SS and medicare anymore. And you're probably in a lower tax bracket. So, the government isn't making as much off of you as they were before. Plus, if you get your mortgage paid off, get to the point you can pay cash for cars and other big ticket items, etc, then others aren't making as much money off of you, either, so it cuts into their profits and, most likely, the amount they pay in taxes.

 

[shotgunner]

Bloomberg does not seem to like ER. We have

Retirement Will Kill You - Bloomberg

Researchers at the Institute of Economic Affairs in the U.K. have also recently identified “negative and substantial effects on health from retirement.” Their study found retirement to be associated with a significant increase in clinical depression and a decline in self-assessed health, and that these effects grew larger as the number of years people spent in retirement increased.

Seems like a case of damned if we do and damned if we don't. If retirement doesn't kill ya your job will.

Your job might be killing you - Fortune Management

 

[HFWR]

Seems like a case of damned if we do and damned if we don't. If retirement doesn't kill ya your job will.

Your job might be killing you - Fortune Management

I'll take my chances on retirement...

 

[scrabbler1]

OMG I better end my pleasant, stress-free ER of 4 1/2 years and go back to work with its awful, stressful commute and harried morning routine and lousy lunch food! NOT!

 

[jollystomper]

Regarding the "Retirement will kill you" article, they never seem to conduct these studies by separating out those who are forced to retire versus those who choose to retire. The results would likely be different between the two groups.

 

[scrabbler1]

Regarding the "Retirement will kill you" article, they never seem to conduct these studies by separating out those who are forced to retire versus those who choose to retire. The results would likely be different between the two groups.

No argument from me. My mom had to retire at 55 because she was ill with cancer. She died 4 years later. My dad voluntarily retired at 63 and is alive and well 19 years later.

 

[Chuckanut]

Sign over the Auschwitz death camp:

Arbeit macht frei

Translation: Work sets you free

 

[KiraC]

I'll keep enjoying my improved health now that I'm retired and not working for weasels who made me sick.

 

[marko]

Right! What this country needs are more people with no ability to pay their bills, cover their personal upkeep themselves and (heavens!) pay cash for things they buy!

We're all saving too much money folks! That's why the economy is a mess...

 

[M Paquette]

So, ideally, Americans should avoid savings, and work until they die, thus providing both economic stimulus and minimizing medical expenditures for post-retirement depression treatment.

This seems to be culturally consistent...

 

[David1961]

Everybody who retires will eventually die.

 

[REWahoo]

Everybody who retires will eventually die.

As will an overwhelming majority of those who don't.

 

[galeno]

Bloomberg is right. FIRE'd people free-ride the system. We don't work and we under consume.

 

[sengsational]

Regarding the "Retirement will kill you" article, they never seem to conduct these studies by separating out those who are forced to retire versus those who choose to retire. The results would likely be different between the two groups.

That's the first thing that entered my mind. Like the studies that say losing weight is correlated with death because those that have a terminal disease often lose weight before they depart. They need to separate out the groups to make a meaningful statement.

 

[Amethyst]

How depressing! Not only that, everyone who retires is either old, or will get old eventually - and that's if they're lucky.

Why, it's a wonder any retired person has a happy thought at all!

Everybody who retires will eventually die.

 

[marko]

Bloomberg is right. FIRE'd people free-ride the system. We don't work and we under consume.

There's a lot of free ridin' going on. You could argue it's a bell shaped curve.

 

[RAE]

I'll keep enjoying my improved health now that I'm retired and not working for weasels who made me sick.

Right, same here. In my case, there is no doubt that my health has IMPROVED since I retired. I exercise more, I eat better, I sleep better, I experience much less stress, and my annual blood test results confirm that I'm healthier than when I was working. I just shake my head and chuckle when I read these studies about how I am supposed to be so depressed and unhealthy........

 

[razztazz]

Bloomberg is right. FIRE'd people free-ride the system. We don't work and we under consume.

Even when I was working I was half-way there. I always under-consumed. I lived as if I were maybe one generous step above actual poverty. That's how I was able to retire early.

 

[marko]

Even when I was working I was half-way there. I always under-consumed. I lived as if I were maybe one generous step above actual poverty. That's how I was able to retire early.

...and now you're being told that's a bad thing!

 

[REWahoo]

...and now you're being told that's a bad thing!

If you are going to quote Martha Stewart you should credit her as your source...

'Don't retire': Martha Stewart

 

[razztazz]

..and now you're being told that's a bad thing!

Simpson's episode.

Sign outside the dentist's office:

"Springfield Dentistry. No matter how you're brushing, you're doing it wrong"

Ain't it the truth!

 

[Walt34]

...the economy's weakness can be attributed to excessive saving by households and businesses. In response, these economists recommend that governments push their citizens to save less.

Where the nation's economic health is hurt by people saving for ER

So now I'm being selfish by LBYM. Clearly, I can use this to justify to DW why I should go out and buy about $20-$30k in photography gear. Think she'll buy it?

And the other "take-home" is that:

1. If I fully retire and go play, eventually I'll die.

2. If I keep working as long as I physically can and do not take time to enjoy anything because I'm always working, eventually I'll die.

I'll take option #1 please.

 

[audreyh1]

If you are going to quote Martha Stewart you should credit her as your source...

'Don't retire': Martha Stewart

Stewart’s advice on aging: “Don’t retire.”
Q: What is the best piece of advice you have for staying young?

A: Be curious, don’t retire, and keep very active. Never stop working at something. I think people age really quickly the minute they stop doing things they are really interested in. They think it’s going to be fun to play golf all the time, but that’s not the answer to everything.

It never ceases to amaze me how many people believe that you can't possibly be curious, stay active, or be doing something you are really interested in, unless you are WORKING!

 

[Snowcat]

So now I'm being selfish by LBYM. Clearly, I can use this to justify to DW why I should go out and buy about $20-$30k in photography gear. Think she'll buy it?

And the other "take-home" is that:

1. If I fully retire and go play, eventually I'll die.

2. If I keep working as long as I physically can and do not take time to enjoy anything because I'm always working, eventually I'll die.

I'll take option #1 please.

I am with you. Option 1.