Looking Toward the Future: Predicting Retirement Satisfaction

Guyla D. Davis

Abstract


Many retirees experience a decrease in life satisfaction after retirement. One explanation for the dissatisfaction is that retirement was not as one had expected (i.e., feelings about retirement were inaccurately predicted). Planning for retirement involves predicting aspects of retirement and making decisions accordingly. The present study used a between subjects design to examine the predicted feelings of workers regarding their retirement expectations compared to the actual feelings of retired workers. The major finding was that pre-retirees' predictions of retirement satisfaction were significantly different from retirees' actual retirement satisfaction, even though regression analyses revealed that similar variables predicted satisfaction (e.g., social support). This study lays the groundwork for future research which would determine the potential reasons for these findings. 


Full Text:

PDF

References


Atchley, R. C. (1976). The sociology of retirement. Cambridge, MA: Schenkman.

Bagozzi, R. P., Dholakia, U. M., & Basuroy, S. (2003). How effortful decisions get enacted: The motivating role of decision processes, desires, and anticipated emotions. Journal of Behavioral Decision Making, 16, 273-295.

Brickman, P., Coates, D., & Janoff-Bulman, R. (1978). Lottery winners and accident victims: Is happiness relative? Journal of Personality and Social Psychology, 36, 917-927.

Carstensen, L. L., Isaacowitz, D., & Charles, S. T. (1999). Taking time seriously: A theory of socioemotional selectivity. American Psychologist, 54, 165-181.

Diener, E., Emmons, R. A., Larsen, R. J., & Griffin, S. (1985). The satisfaction with life scale. Journal of Personality Assessment, 49, 71-75.

Elwell, F., & Maltie-Crannell, A. D. (1981). The impact of role loss upon coping resources and life satisfaction of the elderly. Journal of Gerontology, 36, 223-232.

Floyd, F. J., Haynes, S. N., Doll, E. R., Winemiller, D., Lemsky, C., Burgy, T. M., Werle, M., & Heilman, N. (1992). Assessing retirement satisfaction and perceptions of retire- ment experiences. Psychology and Aging, 7, 609-621.

Gall, T. L., Evans, D. R., & Howard, J. (1997). The retirement adjustment process: Changes in the well-being of male retirees across time. Journal of Gerontology, 52(B), 110- 117.

Kahneman, D., & Snell, J. (1990). Predicting utility. In R. M. Hogarth (Ed.), Insights in decision making: A tribute to Hillel J. Einhorn (pp. 295-310). Chicago: University of Chicago Press.

Krause, N. (1987). Chronic financial strain, social support, and depressive symptoms among older adults. Psychology of Aging, 2, 185-192.

Loewenstein, G., & Schkade, D. (1999). Wouldn't it be nice? Predicting future feelings. In D. Kahneman, E. Diener, & N. Schwarz (Eds.), Well-being: The foundations of hedonic psychology (pp. 85-105). New York: Russell Sage Foundation.

March, J. (1978). Bounded rationality, ambiguity, and the engineering of choice. Bell Journal of Economics, 9, 587-608.

Palmore, E. B., Fillenbaum, G. G., & George, L. K. (1984). Consequences of retirement. Journal of Gerontology, 39, 109-116.

Pavot, W., & Diener, E. (1993). Review of the satisfaction with life scale. Psychological Assessment, 5, 164-172.

Richardson, V., & Kilty, K. M. (1991). Adjustment to retirement: Continuity vs. discontinuity. International Journal of Aging and Human Development, 33, 151-169.

Schkade, D., & Kahneman, D. (1998). Does living in California make people happy? A focusing illusion in judgments of sat- isfaction. Psychological Science, 9, 340-346.

Singleton, J. F. (1985). Retirement: Its effect on the individual. Activities, Adaptation & Aging, 6, 1-7.

Smith, P., Kendall, L., & Hulin, C. (1969). The measurement of satisfaction in work and retirement. Chicago: Rand McNally.

Walker, J. W., Kimmel, D. C., & Price, K. F. (1981). Retirement style and retirement satisfaction: Retirees aren't all alike. International Journal of Aging and Human Development, 12, 267-281.


Refbacks

  • There are currently no refbacks.


Copyright (c) 2017 The New School Psychology Bulletin

© The New School Psychology Bulletin | editors@nspb.net