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:10/13/2017)... ... October 13, 2017 , ... ... that offers insurance and financial preparation services, is providing an update on a ... organization. , Rock City Rescue is a locally recognized nonprofit that provides shelter ...
(Date:10/13/2017)... ... October 13, 2017 , ... The ... to promote standards of excellence for the field of eating disorders, announces the ... – 25, 2018 in Orlando, Florida at the Omni Resort at ChampionsGate. ...
(Date:10/13/2017)... ... October 13, 2017 , ... Apple Rehab Shelton ... staged a mock evacuation of the facility as part of a disaster drill on ... Echo Hose EMS and Shelton City Emergency Manager, as well as the Connecticut ...
(Date:10/13/2017)... Milford, NJ (PRWEB) , ... October 13, 2017 , ... ... weekend at scenic Alexandria Park in Milford, NJ. This free event, sponsored by ... and physical activity. The fun run is geared towards children of all ages; ...
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of ... Philippines. “The Journey: From the Mountains to the Mission Field” is the creation of ... taught all ages and currently teaches a class of ladies at her church, which ...
Breaking Medicine News(10 mins):
(Date:9/18/2017)... ALLENTOWN , Pa. and KALAMAZOO, Mich. ... Allentown, Penn. , and OptiMed Specialty Pharmacy ... a business partnership to offer a strategic hub service ... PMD Healthcare,s highly sought-after personal spirometer, Spiro PD 2.0, ... A spirometer is a medical device used ...
(Date:9/12/2017)... and NEW YORK , Sept. 12, 2017 ... performance ratings for global supply chains, has published the first annual edition ... CSR performance of more than 20,400 companies evaluated by EcoVadis, based on ... 2015 and 2016. ... EcoVadis Global CSR Risk & Performance Index ...
(Date:9/9/2017)... Sept. 8, 2017 ... MRI Unit coming to Washington DC ... When: Tuesday, September 12 th – Monday, September 18 th ... offering free MRI brain scans to the public.Where:  ... parked at 501 K Street NW, Washington, D.C.What:BTF brings its nationwide initiative, ...
Breaking Medicine Technology: