Anyone who is thinking ahead to retirement has probably invested a significant amount of time into their career as well as planning ahead for what their retirement will look like. Having consultations with a broad range of different professionals can help you to articulate your goals and ensure that your current plan is in line with your needs. Two of the major issues that affect the employees in their 50s and 60s include job satisfaction and work life balance.
At the recent 2017 Retirement Research Consortium Meeting, new studies were shared regarding a perspective on both of these issues. Researchers in a California study found a strong connection between women stepping out of the workforce when their spouse had a health shock.
The same desire to leave the workforce occurred whether the woman was employed on a part time or full time basis. In fact, up to 14% of people who retired earlier than planned said that their reason for doing so was having to care for a family member such as a spouse.
When a spouse gets sick, this often causes a reprioritization and indicates that life may be interfering with work. According to the research study however, men were unlikely to follow the same pattern as their wives when the women had health shocks.
The study shows that women bear a lot of the responsibility when life intervenes around retirement. If you have questions about how to connect your retirement planning and your estate planning, scheduling a consultation with an experienced professional is strongly recommended.
An estate planning attorney in Massachusetts can help illuminate you about some of the most critical issues to pay attention to during this vital time.