| The long term financial impacts of CVD: Living standards in retirement. | |
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MedLine Citation:
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PMID: 21094552 Owner: NLM Status: In-Data-Review |
Abstract/OtherAbstract:
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BACKGROUND: Cardiovascular disease (CVD) has significant economic costs, however these are generally estimated for the present-time and little consideration is given to the long term economic consequences. This study estimates the value of savings those who retire early due to CVD will have accumulated by the time they reach the traditional retirement age of 65years, and how much lower the value of these savings are compared to those who remained healthy and in the workforce. METHODS: Using Health&WealthMOD - a microsimulation model of Australians aged 45 to 64years, regression models were used to analyse the differences between the projected savings and the retirement incomes of people by the time they reach age 65 for those currently working with no chronic condition, and people not in the labour force due to CVD. RESULTS: Over 99% of individuals who are employed full-time will have accumulated some savings at age 65; whereas only 77% of those who are out of the labour force due to CVD will have done so. Those who retire early due to CVD will have a median value of total savings by the time they are 65 of $1833. This is far lower than the expected median value of savings for those who remained in the labour force full-time, who will have $281841 of savings. CONCLUSIONS: Not only will early retirement due to cardiovascular disease limit the immediate income and wealth available to individuals, but also reduce their long term financial capacity by reducing their savings. |
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Authors:
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Deborah Schofield; Simon Kelly; Rupendra Shrestha; Megan Passey; Emily Callander; Richard Percival |
Publication Detail:
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Type: Journal Article Date: 2010-11-20 |
Journal Detail:
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Title: International journal of cardiology Volume: 155 ISSN: 1874-1754 ISO Abbreviation: Int. J. Cardiol. Publication Date: 2012 Mar |
Date Detail:
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Created Date: 2012-02-28 Completed Date: - Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 8200291 Medline TA: Int J Cardiol Country: Netherlands |
Other Details:
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Languages: eng Pagination: 406-8 Citation Subset: IM |
Copyright Information:
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Copyright © 2010 Elsevier Ireland Ltd. All rights reserved. |
Affiliation:
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NHMRC Clinical Trials Centre, University of Sydney, Camperdown, NSW, Australia; School of Public Health, University of Sydney, NSW, Australia. |
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From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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