title: The long term financial impacts of CVD: living standards in retirement.
abstract: 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 65 years, 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 64 years, 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.
authors.affiliation: NHMRC Clinical Trials Centre, University of Sydney, Camperdown, NSW, Australia. deborah.schofield@ctc.usyd.edu.au
authors.forename: Deborah
authors.initials: D
authors.lastname: Schofield
authors.forename: Simon
authors.initials: S
authors.lastname: Kelly
authors.forename: Rupendra
authors.initials: R
authors.lastname: Shrestha
authors.forename: Megan
authors.initials: M
authors.lastname: Passey
authors.forename: Emily
authors.initials: E
authors.lastname: Callander
authors.forename: Richard
authors.initials: R
authors.lastname: Percival
mesh_terms: D000368:Aged; D001315:Australia; D002318:Cardiovascular Diseases / Q000191:economics*; D003198:Computer Simulation; D017281:Cost of Illness; D005260:Female; D005544:Forecasting; D006801:Humans; D007182:Income / Q000639:trends*; D008297:Male; D008875:Middle Aged; D018803:Models, Economic; D010415:Pensions; D012179:Retirement / Q000191:economics* / Q000639:trends; D012959:Socioeconomic Factors