visimoney
TLDR
- The cost of loneliness in retirement is rising as a serious threat to a happy, healthy retirement.
- Research indicates that social isolation and loneliness can lead to a variety of health issues and financial consequences.
While worrying about saving enough for retirement is common, the article “The Cost of Loneliness in Retirement” by Jacob Schroeder published on Kiplinger highlights the importance of addressing the rising cost of loneliness as a critical component of retirement planning. Social capital is just as essential as financial planning in ensuring a fulfilling retirement. The article emphasizes that loneliness and social isolation are a serious health epidemic, with older adults being particularly vulnerable due to factors such as living alone, losing loved ones, and dealing with illnesses.
Research has shown that loneliness is linked to a range of health issues, including heart disease, stroke, depression, and even premature death. The financial consequences of loneliness are also significant, with older adults who feel lonely being more susceptible to financial scams and potentially higher medical expenses.
Combatting loneliness involves nurturing friendships, connecting with others, and engaging in activities that promote well-being. Starting early to build social connections is compared to making a financial investment, with the compound benefits of friendships paying off in the long run. Ultimately, investing in social connections is emphasized as essential to a happy and healthy retirement.
