With many of us now enjoying longer healthy, full and energetic lives, when are we actually classified as old? Given our lives are likely to be prolonged, how are we going to enjoy these most precious days of our life?
Perhaps the first important hurdle to overcome is an outdated notion of what is elderly or old. Someone in their 50s now will be anticipating a much higher life-expectancy by the time they reach “retirement age” than someone just two decades ago. If our life expectancy continues to increase, why has society’s definition of being old or elderly remained the same?
Consider this: in 1930, a 65-year-old woman could expect to live a further 12.8 years. In 2017, life expectancy in the UK had risen to 83.1 years for women. It continues to rise. We are living longer and fuller lives. Being classified as elderly doesn’t define the people we are becoming at 55 plus.
Can early retirement prolong our lives?
Retiring from work at 55 can seem like a perfect dream, yet studies often contradict whether this is beneficial for our longevity or not. One thing seems to be certain. It’s not the early retirement that prolongs our lives but how we spend those years. Nor will a longer life happen because we are employed well into our 60s. However, keeping busy, occupied and working in some form or another, voluntary or paid, will certainly help our longevity.
Whether, it’s voluntary work, a hobby or a new challenge, more and more ‘elderly’ people of 55 years plus are discovering new interests and pursuing new ventures. Some say 60 is the new 40. It isn’t! It is an age in its own right with its own benefits and we need to live it to the fullest. Certainly, early retiring frees up time, allowing us the time to invest in ourselves.
Getting retirement ready
Another key factor for a successful retirement is planning for it. Not only do we need to plan our time, but we also need to make sure we have the financial backing to support our chosen lifestyle. From 55 plus, we should be planning to enjoy ourselves or looking for viable financial solutions and investments to help us enjoy a long and stress-free life.
Retiring can mean losing a regular income. Stress about money will definitely not aid our longevity. In which case, releasing equity might be the perfect answer. As our assets are often in our property, and our home is a great place to start. Downsizing doesn’t mean a lessening of lifestyle. In fact, a number of early retirees thoroughly love life in a park home environment surrounded by like minded individuals. Such a decision might enhance your later years. With our kids now independent and our lifestyle needs changing, a smaller more practical home could be the ideal option.
There is no such thing as old any more. We are living our lives refusing to accept age barriers or rigid definitions of what it means to be elderly. Instead, we are focusing on how to make the most of our time and living every moment to its fullest.
Hoping to release funds for a stress-free retirement? Make sure that you do your research and take advice.
Disclaimer: this article is general information only and does not constitute financial, legal, medical or other form of professional advice. You should not base any decisions solely on this information. Always obtain independent, professional advice, from multiple sources, for your own particular situation.