Last January saw former President Joe Biden, at 82 years old, conclude his long-frogged career trail, ending decades of public service. On a harrowing Sunday, May 18, Biden’s spokesperson confirmed that Biden had been diagnosed with an ‘aggressive’ form of prostate cancer that had metastasized to his bones. While the news may have been startling for some, it hardly qualifies as a medical anomaly, according to Jonathan Skinner, an expert specializing in healthcare economics.
Skinner points out that prostate cancer ranks among the most prevalent in men, especially those of Biden’s advanced age bracket. However, it’s a narrative that’s hardly groundbreaking: the all-too-familiar tale of an individual bidding their farewell to a taxing career, only to be slapped with a grim medical diagnosis. The big question, that continues to bewilder experts, is the intricate connection between retirement and mortality rates among several American citizens.
Research conducted to understand this maze is, at best, inconsistent. Skinner argues that retirement does not directly result in higher mortality rates. In other words, one needn’t worry that hanging up their work boots would instantly label them with a potential cancer diagnosis. However, emerging evidence posits that there’s some interaction between retirement and health.
Demographic elements, such as gender and pre-existing health conditions, play critical roles in determining this interaction. ‘The jury is still out on whether retirement equates to good or poor health,’ says Skinner. Therefore, if the prospect of retiring fills you with joy, that’s likely a positive indicator for your health as anything that uplifts your spirits, providing you more leisure time to pursue your desires, could be beneficial for your overall health condition.
Contrarily, if severing ties with work triggers an existential crisis or if there are minimal social supports to buffer the cost and continually keep the spirits high post-retirement, it might wreak havoc on your overall wellbeing. Pertinent to draw from previous research that hinted at a link between retirement and increased mortality rates. An in-depth study in 2018 by the National Bureau of Economic Research discovered an approximate 2% surge in male mortality rates at 62, typically the age when US citizens can apply for Social Security and step away from full-time employment.
For women, however, the increase in mortality rate was subtle and lacked significant statistical backing. It’s also essential to note that retiring early does not establish an accurate correlation with mortality. On the contrary, a 2020 study by Dutch researchers associated on-time retirement with a heightened risk of death. In contrast, parting ways with work earlier hadn’t displayed any consistent positive or negative association with mortality.
Further consider that the median age of cancer diagnosis in the United States is 67 years, overlapping with the age of many individuals surrendering their work duties. This alignment could potentially spin out as a fatal mix for a vast number of American citizens. Skinner brings up the under-discussed topic of ‘forced retirement’, which sees individuals prematurely leaving their jobs due to debilitating health issues.
In Biden’s case, for instance, his health condition was a deterrent to another electoral race. According to Skinner, ‘When people aren’t in the pink of health… it’s not the retirement that fosters poor health.’ Yet, some propose that healthier individuals should opt for an early retirement to fully relish life before any potential ailment strikes. The additional spare time post-retirement could bolster health-enhancing activities such as regular exercise, diet management, doctor checkups, and disease management.
One retiree comments that ‘We get the privilege of managing our illness more proactively. We can dictate the pace of our recovery.’ The mortality-retirement relationship could be further demystified by the concept of the ‘healthy worker effect’. This theory suggests that individuals enjoying sound health tend to continue working, while those grappling with health issues view their bodily signals as signs to stop working.
Consequently, retirements on time are typically triggered by negative health conditions and can often precede death. It’s especially relevant given that Americans, primarily women, are living longer, resulting in them working well into their senior years. Staying in employment longer also may be reflective of societal perceptions.
Certain people may weigh their worth by their ability to work, deeming life worthless without work. Despite these perspectives, Skinner’s advice leans toward the personal judgement on whether retirement is the next step: ‘If you feel an eagerness to retire, and financially speaking, you have the means to do so, it would likely be in your best interest.’