This post is specially dedicated to my friend Wenny, who has recently posted an entry about deciding between retiring early or starting a business with a friend.
Singapore's reowned Lee Kwan Yew recently gave his opinion that there should be no retirement age. There was quite a buzz over the internet forums over this statement. To be fair to Mr Lee, I think his comments had good intentions, given how the old are generally snubbed by most companies in Singapore.
Anyway, this guy called Tan Kok Tim submitted his commentary to Today, Singapore's free newspapers. And he quoted 2 studies that showed that Mr Lee's comments are not advisable for health.
I have (shamelessly) copied an excerpt of the article to save myself from parahrasing them.
Japanese Nobel Laureate Dr Leo Esaki once spoke on the relationship between longevity and retirement age. He revealed that the pension funds in many large companies such as AT&T, Boeing, Lockheed, Lucent, and so on, are overfunded as many who retire at the age of 65, usually die within two years of retirement.
Separately, Dr Ephrem Cheng of the University of Alberta did an actuarial study of lifespan versus age at retirement, based on the number of pension cheques sent to Boeing Aerospace retirees. It found that staff who retire at the age of 50 had an average lifespan of 86. Those who retire at the age of 65 live to an average age of just 66.8.
This study concludes that for every year a person works beyond the age of 55, he lives an average of two years less.
Often, we hear people who want to work as long as possible to stay senile. Well, there are many ways to stay senile, like doing volunteer work, bonding with the family, or picking up new skills that does not cause stress.
If I had a choice, I will retire as early as I can. With the high inflation in Singapore, it's becoming increasingly impossible though. I used to joke that I want to buy a plot of land in Malaysia to grow crops when I get old. Maybe I should seriously consider that proposition!
And to my friend Wenny, I think you made the right choice. Enjoy life to the fullest, don't stress yourself out.
Source: TodayOnline: retire early, live longer