The Well-Being of Retirees: Evidence Using Subjective Data
AbstractWhile previous economic research focuses on the financial well-being of retirees, this paper examines the determinants of overall well-being of retirees. Using data from the 2000 Health and Retirement Study, the strongest predictor of retirement well-being is the reason for entering retirement. If individuals were “forced” to retire, their well-being is significantly lower than those who chose to retire. This indicates the importance of expectations on retirement satisfaction. Additionally, health, current income, and comparison retirement income have important roles in determining overall well-being.
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Bibliographic InfoPaper provided by Center for Retirement Research in its series Working Papers, Center for Retirement Research at Boston College with number wp2004-24.
Length: 32 Pages
Date of creation: Nov 2004
Date of revision:
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- Montizaan, Raymond M. & Vendrik, Maarten C.M., 2014.
"Misery Loves Company: Exogenous shocks in retirement expectations and social comparison effects on subjective well-being,"
Journal of Economic Behavior & Organization,
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- Montizaan Raymond & Vendrik Maarten, 2012. "Misery Loves Company; Exogenous Shocks in Retirement Expectations and Social Comparison Effects on Subjective Well-Being," Research Memorandum 049, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Montizaan, Raymond & Vendrik, Maarten C.M., 2012. "Misery Loves Company: Exogenous Shocks in Retirement Expectations and Social Comparison Effects on Subjective Well-Being," IZA Discussion Papers 6863, Institute for the Study of Labor (IZA).
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- Calvo, Esteban & Haverstick, Kelly & Sass, Steven, 2007.
"What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?,"
5607, University Library of Munich, Germany.
- Esteban Calvo & Kelly Haverstick & Steven A. Sass, 2007. "What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?," Working Papers, Center for Retirement Research at Boston College wp2007-18, Center for Retirement Research, revised Oct 2007.
- Jonathan Skinner, 2007.
"Are You Sure You're Saving Enough for Retirement?,"
Journal of Economic Perspectives,
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