|Title||Retiring earlier than planned: What matters most?|
|Year of Publication||2019|
|Authors||Munnell, AH, Rutledge, MS, Sanzenbacher, GT|
|Series Title||Issue in Brief|
|Institution||Center for Retirement Research at Boston College|
|Keywords||Health Shocks, Retirement Planning & Satisfaction, Wealth Shocks|
The brief’s key findings are:
More than a third of older workers retire earlier than planned: the question is why? This study looks at: 1) the impact of unexpected changes in health, employment, family, and finances on early retirement; and 2) the prevalence of these shocks.The findings suggest that:
Health shocks play the largest role, mainly because they are widespread.Job loss without finding a new job, while not as prevalent, is also important.
A key caveat is that all the shocks combined explain only about a quarter of earlier-than-planned retirements, so clearly other factors are also at play.