| Abstract: |
While 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. |