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:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern Californian, ... and his M.D from the David Geffen School of Medicine at UCLA. He trained ... Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program where ...
(Date:6/24/2016)... Angeles, CA (PRWEB) , ... June 24, 2016 , ... ... surgery procedures that most people are unfamiliar with. The article goes on to state ... procedures, but also many of these less common operations such as calf and cheek ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Sessions in Dallas that it will receive two significant new grants to support ... as PHA marked its 25th anniversary by recognizing patients, medical professionals and scientists ...
(Date:6/24/2016)... ... ... of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum Wage’ ... 2020 and then adjusting it yearly to increase at the same rate as the median ... floor does not erode again, and make future increases more predictable. , The company is ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® ... Group (TGIG), has initiated cultivation and processing operations at its production facility, and ... Nevada. , Puradigm is the manufacturer of a complete system of proactive air ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Any dentist who has ... of the current process. Many of them do not even ... technical difficulties and high laboratory costs involved. And those who ... it at such a high cost that the majority of ... Dr. Parsa Zadeh , founder of Dental Evolutions ...
(Date:6/23/2016)... June 23, 2016  In a startling report released today, ... residents by lacking a comprehensive, proven plan to eliminate prescription opioid ... ranking of how states are tackling the worst drug crisis in ... states – Kentucky , New Mexico ... . Of the 28 failing states, three – ...
(Date:6/23/2016)... , June 23, 2016 Research ... MEMS Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data ... analysis. Assessment of major trends with potential impact on the ... analysis of market segmentation which comprises of sub markets, regional ...
Breaking Medicine Technology: