Navigation Links
Back Problems May Cut Into Retirement Savings
Date:2/14/2012

TUESDAY, Feb. 14 (HealthDay News) -- Most people forced to retire early because of back problems face ongoing financial struggles, a new study finds.

Not only does early retirement reduce immediate work income, it also affects long-term financial health by significantly reducing the ability to accumulate wealth, said the researchers at the University of Sydney in Australia.

They analyzed data from 147 people, ages 45 to 64, who had to retire due to back problems, 168 people with back problems who worked part-time, and 356 people who had full-time jobs and back problems.

The researchers concluded that nearly all people with full-time jobs and no health problems will accumulate some wealth by the time they're 65, compared with 75 to 85 percent of those who have to stop working early due to back problems.

Men ages 45 to 54 who retire early due to back problems would have a median value of wealth of just over $5,400 (in U.S. dollars) by age 65. This would generate an annuity of only $314 per year.

In comparison, men ages 45 to 54 who remain in the labor force full time would have over $366,00 of wealth when they retire at 65, which would generate an annuity of $21,000 a year.

Among women, the median wealth value at age 65 would be almost $21,700 (annuity value of about $1,100) for those who retired early due to back problems and $256,500 (annuity value of almost $13,000) for those who worked full time until retirement age.

The study was published recently in the journal Pain.

"Relative to those who retired early due to other health problems, there are more than twice as many people who have retired early due to back problems who are estimated to have no savings by the time they reach the traditional retirement age of 65," said lead investigator Professor Deborah Schofield, chair of health economics at the National Health and Medical Research Council Clinical Trials Center and Sydney School of Public Health, University of Sydney.

"For most of the age and sex groups analyzed, even those who reported back pain and were working full time accumulated less wealth than full-time workers who suffered no chronic health conditions," she added in a university news release.

More information

The U.S. National Institutes of Health offers tips for preventing back pain.

-- Robert Preidt

SOURCE: Pain, news release, Jan. 31, 2012


'/>"/>
Copyright©2010 ScoutNews,LLC.
All rights reserved  

Related medicine news :

1. America's Hidden Pandemic: 100 Million Suffer From Sleep Problems
2. Solutions for Sleep Problems: Harvard's Improving Sleep Special Health Report and New Sleep Apnea Video
3. Sleep problems and sleepiness increase the risk of motor vehicle accidents in adolescents
4. New Multivitamins Target Concern Over China's Quality Problems
5. Bromley Brook Boarding School for Girls Creates Focus Cards to Help Students Regulate Emotions, Solve Problems
6. New developments in nanotechnology tackle the 2 biggest problems associated with chemotherapy
7. RSA Innovator NetClarity Solves Networking Problems Caused by HP and Cisco Divorce
8. More Info Needed on Problems With Insulin Pumps
9. Internet Security Problems Solved - A New Internet Security Group Defeats CyberCrime in West Virginia
10. Research streamlines data processing to solve problems more efficiently
11. Nutritional Aid is Cost-effective Measure Against Health and Hunger Problems, World Vision Tells Congress
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
Back Problems May Cut Into Retirement Savings
(Date:2/10/2016)... York, NY (PRWEB) , ... February 10, 2016 , ... ... campaign to celebrate and raise awareness of Nestlé KITKAT as the first global confectionery ... the lives of cocoa farmers and the quality of their product, through activities that ...
(Date:2/10/2016)... ... February 10, 2016 , ... ... a full-service health care communications company offering education, research and medical media, ... practitioners and specialists working in infectious diseases. , As the all-inclusive resource ...
(Date:2/10/2016)... ... February 10, 2016 , ... MetLoop CEO Jay ... 2.0 version at the International Roofing Expo in Orlando, Florida on February 17-19. ... most advanced weather technology in the hands of consumers, roofing contractors, manufacturers and ...
(Date:2/10/2016)... (PRWEB) , ... February 10, 2016 , ... ... and Video Remote Interpreting (VRI) within Healthcare, recently partnered with Heart City ... interpreting (VRI). , For nearly 23 years, Heart City Health Center has provided ...
(Date:2/10/2016)... ... February 10, 2016 , ... Compliancy Group LLC is pleased ... professionals throughout the country. The Guard was specifically designed to handle each element ... training, regulatory updates, and compliance coaching. , In addition to meeting the compliance ...
Breaking Medicine News(10 mins):
(Date:2/10/2016)... Feb. 10, 2016  Fotona, based in the U.S. and ... its new ST PRO Lightwalker dental laser at the upcoming ... from 25-27 February, 2016 in booth #4815. The ST PRO ... with many of the features of the award winning, industry ... PRO competitive price will be very attractive to many dentists ...
(Date:2/10/2016)... Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ: VNDA ), today ... and full year ended December 31, 2015. ... transformational year for Vanda with the continued growth of ... of HETLIOZ for Non-24," said Mihael H. Polymeropoulos, M.D., ... our U.S. product portfolio builds on this success and ...
(Date:2/10/2016)... report from business intelligence provider GBI Research - Alzheimer,s Disease Therapeutics Market ... double from just under $5 billion in 2014 to an estimated $10.4 billion ... Canada , France , Germany ... and Japan , and will primarily be driven by increased ... France , Germany , Italy ...
Breaking Medicine Technology: