atmega328p sleep mode

Hi guys I have atmega328p-pu running 7/24 continuously sending serial data every 1 sec. my question is can I use sleep mode and wake up every 1 sec. Is there any risk to sleep and wakeup processor frequently. Is that will increase life span for MCU or decrease it. thanks a lot.

#include 
#include "LowPower.h"
void setup() {
Serial.begin(9600);
Serial.println("starting");

}

void loop() {
static int counter=0;
Serial.println(counter++);
while (!(UCSR0A & (1 << TXC0)));   // Wait for the transmission to complete
 LowPower.powerDown(SLEEP_1S, ADC_OFF, BOD_OFF); 
}

This is the definitive guide for Arduino (avr) low power configuration: http://www.gammon.com.au/power

Sketch H is an example of waking the processor periodically, using the watchdog timer.

This should have no impact on the lifetime of the processor, only the battery.