What factors influence the decision of when to retire?

Question

What will be an ideal response?

Answer 1

The decision of when to retire is typically influenced by job conditions, health, finances, and personal preferences. Adults with poor health and visual and hearing impairments tend to retire earlier than their unimpaired peers. Among U.S. retirees, 40% of Black retirees and 50% of Hispanic retirees indicate that poor health was at least somewhat important to their decision, as compared with 26% of white retirees. Workers tend to retire early from jobs that are stressful or hazardous and tend to delay retirement from jobs that are highly stimulating, take place in pleasant environments, and are a source of identity and self-esteem. Workers in professional occupations and those who are self-employed tend to stay in their jobs longer as compared with those in blue-collar or clerical positions. A sense of control and perceived working conditions, such as feeling respected by coworkers and leaders is associated with delaying retirement in German and Finnish older adults. Women often retire earlier than men, often to care for an aging relative or spouse. Women in poverty, however, especially African American women, tend to work well into old age because they often lack the financial resources to make retirement possible.