Retirement: Leaving the World of Work

In: The annals of the American Academy of Political and Social Science, Band 464, S. 120-131

Abstract

The process of retirement begins with attitudes toward retirement, retirement policies, & factors in the decision to retire. Currently, high levels of desire for retirement & poor health cause most retirements to occur at or near the minimum age for retirement. The retirement transition has varying effects, depending on how the individual arrives at retirement. Those retiring voluntarily have little or no difficulty adjusting. Those forced out by mandatory retirement policies tend to be dissatisfied at first, but eventually adjust. And those retiring because of poor health are understandably the most dissatisfied, although retirement improves health for many of them. Retirement itself has no predictable negative effect on physical health, self-esteem, or life satisfaction. It does tend to reduce activity level. A good adjustment in the retirement years depends on having a secure income, good health, meaningful activities, & high marital satisfaction. Given income & health, most retired persons adjust well. However, retirement income systems & health care financing systems in the US are losing ground, & gaps in coverage are widening. This situation poses a serious threat to the future of retirement. HA.