A new study has found that both health and life satisfaction improve in retirement.

According to the study "Does Retirement Improve Health and Life Satisfaction?" from the National Bureau of Economic Research, not only does one's life satisfaction improve in retirement, physical and mental health also improve—and retirement does not have a noticeable effect on the utilization of health care.

One consideration in undertaking the study was the move toward later retirement ages. Longer life expectancies have resulted in longer retirements, and longer retirements have put pressure on retirement benefits.

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