The Boeing curve shows that for every year that you work beyond 50, you can subtract one year off your life expectancy. Boeing study on their employees and retirement.
Remember it is statistics, does not hold for everyone, or every job or company.
Take away is that stress is bad. If you retire early and find something to do that you like, you have the possibility of living longer.
do talk to a professional as it is all very complex but I have just ‘finished’ building an annuity system (programmer/database designer) and from what I gathered the feds don’t like it if you take your money too soon. If you withdraw before 59.5 years of age you pay taxes as income (~20%) which is still better than taking a 401k or IRA early but still a chunk of change.
Actually, if you turn 55 and are still working for the company with which you have your 401K, you can begin penalty-free withdrawals at any time after that that you retire (including before 59 1/2)
interesting, so if you have a 401k and you roll your annuity over to it at 55 and then retire you can get your money tax free before 59.5? clever. again IANAIB (I Am Not An Investment Banker) check with the pros
I would have hated working for Boeing then. My dad is 83 and he retired at age 70. By this calculation he would have lived to 103 if he had retired at 50 :o
My job is not stressful at all, but my employees damn sure are. But I don’t think stress is the real question, I think it’s how you deal with it that matters. For the past 30 years my wife and I have taken a nice vacation every year, the minimum has been 3 weeks, the longest was 10 weeks. My kids tease us that we won’t have much of a bucket list by the time we get to retirement but our attitude was “why wait until we’re too old to enjoy ourselves” Bar hopping in Bamberg is a lot more fun at 50 than it will be at 70
Stress is a cause according to some research that I have read. But if there are big rewards and gratification, some live long lives at those jobs. Symphony conductors are used as an example. Then there is the stress of working for a soul killing company like I did. High stress and no gratification. I was thinking I would not last until retirement age, but I got the retirement offer. Does anyone know a guy that retired at 65 and was dead within a year? I know of several.
Of course some question the data that are out there. But many big companies say it that the data that they have correlates closely to the Boeing data.
Some data and discussion as to why the data is not as “clean” as it could be.
I have been to Bamberg 3 times. Number 4 is coming soon. Along with some bus trips to small towns.
Looks like Texas is the best state to retire in according to this…
The No. 1 state, Texas, outranked all other states with its outstanding scores for economic factors and climate.
Texas huh? Well it is a pretty nice place to live if you can go elsewhere during the summer months.
Again it was nailed on the head. I love my job and what I do. I’m an expert. It’s the personalities, politics etc that drives me nuts. Imagine working with all alpha people with differing ideas on how to accomplish the same task.