There’s a consensus in the fields of psychology and gerontology that folks who retire voluntarily are more satisfied with their lives during the retirement years. However, the reverse is also true: those who retire involuntarily report more health, mental health, and financial problems. Studies find involuntary retirement can lead to depression, anxiety, increased alcohol use, reduced physical activity, and decreased general well-being. As one of many examples, Zhai et al. (2022) reviewed eight published articles with 26,822 participants investigating the relationship between depression and involuntary retirement; they found that involuntary retirement was significantly associated with increased risk of depression

Let’s not underestimate the great number of older workers who are forced into involuntary retirement, which occurs for more than half of retirees. The number one reason for early retirement? Health issues, often an accumulation of prolonged medical concerns making continued employment unfeasible. Consider the findings of the recent report Retiree Life in the Post-Pandemic Economy (Transamerica Center for Retirement Studies, 2024), which found that ill health was the cause of 28% of early retirements. Of course, people also involuntarily retire for other reasons, and this same report notes job loss (16%), organizational changes (16%), or job unhappiness (14%) contributes to the decision. Similarly, the 2025 Retirement Confidence Survey (Employee Benefit Research Institute/Greenwald Research, 2025) found nearly seven in 10 retirees stated the reason was something out of their control.

More recent studies are expanding our understanding of the effects of involuntary retirement. One area of research questions whether there are sub-groups of involuntary retirees that........

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