Why are social connections important in longevity planning?

We often hear about the need to have a financial plan for retirement. But what about having a plan to maintain social connections? This can be just as valuable. Loneliness and isolation can negatively affect mental, cognitive, and physical health as well as overall well-being and longevity. When social networks shrink in retirement, people are 79.5% less likely to maintain good health and 18.6% more likely to feel depressed.

That’s one of the reasons Manulife John Hancock has partnered with the MIT AgeLab on a five-year research study. We’re collaborating to find ways to help improve the quality of life for an aging population and explore the future of longevity innovation.

People are unprepared for the social side of retirement

Recent research by the MIT AgeLab¹ further illustrates the need to help people understand why they should include social connectivity in their longevity planning.

• 66.8% of people are aware that social connections have a large impact on well-being in later life
• 58.5% believe relationships have a large influence on how long a person lives, but only 46.8% have taken action concerning their own social networks

Preparedness appears to correlate with income level. People with lower incomes are less likely to be aware that social connections can affect longevity.

Five tips to help employees make a social plan for retirement

You can help your employees understand that thinking about how to maintain social connections in retirement can be just as important to their quality of life as having a financial plan. Share these five tips as a guide to helping them nurture ways to be social in retirement.

1 Add social wellness to the plan—Make a plan to replace the daily social connections that are built into work life. Whether it’s family, friends, former co-workers, or new social networks, figure out a way to incorporate socializing into your day-to-day activities.

2 Audit work connections—Decide if co-workers are long-term friends or relationships that may be dependent on the work environment. For those that won’t last beyond the workplace, find ways to replace them by pursuing new connections, activities, and interests.

3 Find new groups and interests—Join clubs, civic groups, or religious organizations; take classes; or find volunteering opportunities to broaden your network and help boost social wellness. Think about how some of the hours you spent working can be filled with people who share your interests, experiences, values, and sense of fun.

4 Identify hold-your-hand friends—We all need someone we can count on in difficult or demanding times. Decide in advance who you can call if you’re in the hospital or just need help changing a light bulb.

5 Create a list of just-for-fun friends—Keep a circle of friends who you can share casual outings with, such as grabbing coffee, meeting for lunch, or sharing a night out.

Incorporate social connections into longevity planning

Staying social in retirement can have a big impact on the quality of those years, but it doesn’t get as much airtime as saving for retirement. Help your employees understand that planning ahead for a social retirement can be just as important as having a financial plan. Work with your retirement professionals or recordkeeper to include strategies for staying socially connected in your retirement education programs.

1 To explore in a preliminary manner how prepared people are for longevity, the MIT AgeLab conducted a general population survey of 1,152 individuals between 11/1/24 and 11/27/24. The questionnaire explored how people think about different aspects of well-being as they pertain to quality of life and life expectancy.