Jobs,Institutions, and Beneficial Retirement

According to Saul Smilansky's ‘Paradox of Beneficial Retirement’, many serving members of professions may have decisive integrity‐based reasons for retiring immediately. The Paradox of Beneficial Retirement holds that a below‐par performance in one's job does not require any outright incompetence, but may take a purely relational form, in which a good performance is not good enough if it would be improved upon by someone else who would be appointed instead. It is argued, in response, that jobs in the sectors Smilansky mentions are not merely positions to optimize the goals of the profession, but are professional careers in which there is the possibility of security and personal fulfilment. The article also explores connections between Smilansky's argument and G. A. Cohen's anti‐incentives argument against Rawls. It is suggested that both thinkers underappreciate the relationship between personal reasons and institutional reasons. ¹      

Retirement Decisions: Expectation, Intention, and Action

The study examined the expectation-action chain of events in the context of the decision about whether to retire within the subsequent two years. One hundred and twenty-five staff employees at a large university participated. They evaluated their expectations about what would happen if they retired and stated their intention. Two years later they were contacted to see whether they had or had not retired. Expectations were used to predict intentions (78% correct predictions), and intentions were used to predict actions (76% correct predictions). The results were interpreted as evidence supporting the use of the expectation-intention-action chain to characterize retirement decision making. The possible causes of mispredictions were discussed.     

Reminiscence,Retirement, and Rorschach Responses in Old Age

A longitudinal design examined changes in the 11 response types on the Children's Form of the Picture-Frustration (P-F) Study. Eighty-six children were retested on the instrument after a 5-year interim. Children showed changes reflecting an increase in verbal aggression and an increase in making amends for wrongdoing. They showed decreases in unfocused emotional outbursts and apologies. The finding add to the literature on children's emotional development of aggression and guilt and on the validity of the instrument.     

Retirement Resources Inventory: Construction,factor structure and psychometric properties

The scientific investigation of the relationship between resources and retirement well-being is impeded by the lack of proper measurement of resources. This study reports on the development of an inventory that assesses resources relevant to retirement well-being. The 35-item Retirement Resources Inventory (RRI) is a self-report measure consisting of three factors. The RRI was extensively evaluated in a sample of 267 Australian retirees aged 50 years or above. In general, the three subscales of the RRI were shown to possess good internal consistency (0.81–0.89) and test–retest reliability (0.83–0.88) within a one-month interval. Retirement resources, as assessed by the RRI, significantly accounted for additional variance in both retirement satisfaction (16%) and retirement adjustment (22%) above and beyond that explained by demographic variables. More importantly, results from cross-lagged panel analysis indicated that retirement resources predicted retirement well-being rather than the reverse. Findings from the current study provide strong support for the resource perspective, which proposes that resources are critical to well-being in retirement. Theoretical and practical implications of these findings for retirement planning and designing retirement interventions are discussed.     

When I First Learned about Retirement: Financial and Retirement Concept Recognition among College Students

It has long been argued that financial literacy education should begin in childhood or adolescence, but little is currently known about the ages at which individuals come to understand basic retirement and financial planning concepts. The primary goal of the present investigation is to provide data that reflect the reported ages at which key general and technical retirement planning concepts are acquired. A secondary goal is to identify individual difference dimensions—including one’s financial literacy level and early parental learning experiences—that are associated with the age at which key concepts are reportedly acquired. Retrospective reports obtained from a sample of 646 college students revealed that an understanding of general concepts was widespread and took place during the pre-teen and early teenage years. Understanding of the technical concepts was suboptimal, however. Nearly half of the sample were unfamiliar with most of the technical terms. Among those who were familiar with the technical concepts, learning reportedly occurred later in adolescence. Understanding of both sets of concepts was linked to higher financial literacy scores and saving lessons learned during childhood from one’s parents. Results have implications for financial literacy intervention programs designed to target children, adolescents, and young adults.     

Overcontrol in Retirement Communities

Overcontrol, a personal propensity to control or dominate others, is examined as found in large retirement communities. Aspects of personality theory related to control issues are examined and utilized, particularly social cognitive and cognitive-affective personality system theories. Aspects of social psychological theory, particularly interactional role theory and reference group theory, are also employed. Overcontrol, which is asserted to flourish particularly in large retirement communities, is viewed as a coping device designed to ensure protection against anxiety, and as an intensification of a healthy control trait in the elderly. Three patterns are presented and some approaches to their mitigation are discussed.     

Profiles of Interdependence: The Retirement Planning of Married, Cohabiting, and Lesbian Couples

As the traditional nuclear family gives way to diverse couple types, questions regarding planning and satisfaction within relationships can be applied to partnerships outside of traditional marriages. The levels of interdependence in retirement planning and timing were investigated across three couple types: married heterosexual couples, cohabiting heterosexual couples, and lesbian couples. Analyses suggested that although all couples were interdependent in their retirement plans, this may be particularly the case for lesbian couples’ financial planning. In addition, relationship satisfaction was significantly associated with retirement lifestyle planning, but more so for lesbian couples than for heterosexual couples. The results are discussed in terms of gender, couple dynamics, and the social structures inherent in the three different couple types.     

Women's Caregiving Careers and Retirement Financial Insecurity

Providing the essential care for children and aged relatives has immediate and long‐term financial consequences for women, particularly financial insecurity in retirement. Women's caregiving careers are examined in relationship to the impact on retirement. The need for career and retirement education and counseling aimed at women who assume caregiving roles is addressed.     

Religion and Drinking in the Retirement Community

ABSTRACT

The effect of religiosity on drinking patterns of retirement community residents is examined. Based on a systematic random sample, residents of seven West Coast retirement communities were interviewed. Data on religiosity were categorized into social religious activity, and personal religious behavior. It was found that retirement community residents drink more than senior Americans living in other locations; conservative Protestants, identified as those claiming affiliation with denominations that prohibit alcohol consumption, drink less than Roman Catholics or liberal Protestants; and those who score low on religiosity drink more than those who score high on religiosity regardless of denominational affiliation. It was also shown that for conservative Protestants private religiosity predicts drinking behavior, and for liberal Protestants social religious behavior is a predictor variable. The influence of religiosity on drinking behavior was found to be significant.     

US Retirement Migration to Mexico: Understanding Issues of Adaptation,Networking, and Social Integration

This paper describes the cultural adaptation of American retirees living in two traditional retirement destinations in Mexico (Lake Chapala, state of Jalisco and San Miguel de Allende, state of Guanajuato). Based on 375 surveys and follow-up interviews, the authors discuss issues of adaptation, identity, and networking with the American and local community. Findings present a complex picture of adaptation and integration to the Mexican community as well as networking with other US residents. The comparative case study allows researcher to see the different social and economic dynamics taking place in the two destinations. This study contributes to understand a largely ignored migration flow that is directly related to the aging of the baby boomers generation.     

Subjective Well-Being and Retirement: Analysis and Policy Recommendations

This study examines the relationship between retirement and subjective well-being (SWB), utilizing international data from sixteen countries in Western Europe and the US. Differences in social security regimes are exploited to estimate the retirement decision such that it is exogenous to individual-level characteristics. Although results from traditional ordinary least squares suggest an ambiguous relationship between retirement and SWB, this is due to comparatively lower SWB among those who choose retirement. The removal of selection bias reveals a large, positive effect that fades over a few years, suggesting a multi-stage adjustment to retirement. Individuals facing formal retirement at age 65 or later experience an increase in SWB that is roughly equivalent in total value to that of individuals facing earlier retirement, and both groups return to trend by age 70. This suggests that raising the formal retirement age, which is widely discussed today by policymakers, is relatively neutral with regard to SWB in the long-term.     

Retirement Planning for Clergy: Need and Content

ABSTRACT

Retirement is seen as one of the most critical transitions in the life cycle. This fact is no less true for religious leaders. After years as the “chief executive officer” of several congregations, many clergy find adjustment to retirement to be a difficult task-emotionally, financially, and socially. Different from many professionals, clergy see their “calling” to their vocation, the ministry, to be a lifetime commitment. Given these factors, retirement can bring drastic changes in the clergy's life–his/her self-identity, sense of importance and value as an individual and as a member of society, relationships with family and friends, financial status, and living arrangements. Yet few denominations provide opportunities for preretirement education for their religious leaders; therefore many clergy make little or no preparation for retirement. This paper looks at pertinent issues related to retirement for clergy. Objectives and content areas for preretirement education are suggested.     

Locus of Control and Attitudes Toward Work and Retirement

Fifty-three older workers (M = 57.2) enrolled in a preretirement training program were administered a battery of measures designed to further evaluate the role that locus of control plays in determining attitudes toward work and retirement. Results suggested that perceived control related to work commitment. The extent of the relationship between perceived control and attitudes toward retirement, however, was mediated by sex, level of education, and self-rated health. Consistent with previous research, perceived control related to measures of adjustment.     

Older Workers and Bridge Employment: Redefining Retirement

The authors present a qualitative study that explored the transition experiences of older workers who retired from long‐term careers and who were working in bridge jobs (i.e., transitional work between career employment and retirement). Using grounded theory methodology, the authors interviewed 24 older workers to learn why they decided to pursue a bridge job, how they made the transition, and what challenges they faced and benefits they received. The core theme from the study is that bridge employment redefines retirement. The authors present the findings of the study along with recommendations for career counselors and implications for future research.     

Affective Well-Being in Retirement: The Influence of Values,Money, and Health Across Three Years

In this study, personal values, health, and financial status were investigated as determinants of affective well-being in a sample of 371 recent retirees across 3 years. Personal values, measured with the Portrait Value Questionnaire (Schwartz et al. in J Cross Cult Psychol 32:519–542, 2001), were hypothesized to show direct links to positive affect (PA) and negative affect (NA) as well as to moderate the association between financial and health status and affective well-being. Using structural equation modeling, higher PA was predicted by female gender, better finances, fewer illnesses, and higher self-transcendence (ST), openness to change (OC), and conservation values. Higher NA was predicted by female gender, lower finances, more illnesses, higher self-enhancement (SE) and lower OC values. SE and OC values also moderated the association between financial status and PA. Longitudinal analyses indicated a relatively stable pattern of associations across 3 years. While the impact of finances on affect was stable over time, the effects of health and values increased across 3 years.     

The Impact of Retirement Upon Religiosity

This longitudinal panel stud follows 51 industrial workers over a period of 6 years which g rackets the retirement event. Mean levels of belief and church attendance reveal extreme stability over time, whereas the frequency distribution of attendance indicates a polarization of behavior after retirement, with persons who had attended church once or twice a month reporting weekly or infre uent attendance in retirement. Belief in the supernatural and church attendance were more strongly related after retirement than before, suggesting a reduction in normative pressures on attendance. However, church attendance is much more stable across retirement than other outside-the-home activities. Correlational analysis suggests that there may be more individual change in religious belief and behavior in late adulthood than previously known.     

A future-oriented Retirement Transition Adjustment Framework

This theoretical paper presents a person–environment fit framework that extends the Minnesota Theory of Work Adjustment to retirement transition and adjustment. The proposed Retirement Transition and Adjustment Framework (RTAF) also accommodates dynamic intra-individual and environment change over time, configural combinations of variables, and an ecological perspective to psychological-level decisions. The RTAF permits the collection of frequently sampled longitudinal person and environment data, allows for a detailed analysis of change and responsiveness, and can accommodate external influences from the family team, and social, economic and political policies. The paper concludes by using the RTAF to illustrate the types of psychological measurement and analysis opportunities likely to emerge in light of developments in the web, virtual reality, personal informatics and computing and information technology generally.     

Aging Catholic Sisters' Adjustment to Retirement

ABSTRACT

Two contrasting strategies for the retirement of sisters are used as a paradigm to examine the retirement adjustment of aging sisters. Retirement is viewed as a developmental process as the aged sisters move through a phase of continued productivity into a phase where personal rewards of aging are valued. The team process is described that is used in the religious group to provide an intimate support group and to facilitate the transition for aging members.     

Retirement from sport and the loss of athletic identity

Abstract

The purpose of this study was to examine how a sample of elite athletes coped with distressful reactions to retirement from sport. As part of a larger research project, 15 former elite athletes were identified as having experienced severe emotional difficulties upon athletic career termination. Through use of a micronarrative methodology, it was determined that account making can be a significant moderator of distress during the career transition process. In addition, the quality of the account making was found to be related to present affect and overall success in coping with athletic retirement. Finally, changes in athletic identity were found to be significant determinants of adjustment for athletes upon career termination. Suggestions are presented for future research on treatment strategies for distressful reactions to retirement from sport.     

The Role of Self-Efficacy in Explaining Psychological and Financial Preparation for Retirement: A Behavioural Study of Retirement Transitioning in Uganda

The individual’s level of perceived self-efficacy could be an important driver for early retirement preparation. Most employees in Ugandan organisations reach that age of retirement without sufficient knowledge on how they will survive during their post-retirement life. This study sought to examine whether self-efficacy predicts psychological preparation and financial preparation for retirement. The sample of 924 employees aged 24–60 years selected voluntarily from four three service-oriented organisations participated in this study. Confirmatory factor analysis was run to confirm whether the factor indices (latent variables) extracted from exploratory factor analysis were actually measures of psychological preparation and financial preparation for retirement. Structural equation modelling was used to test regression relationships, and correlation between latent variable of the dependent constructs was tested using Pearson product moment correlation coefficients. The findings indicated a four-factor model for psychological preparation and a two-factor model for financial preparation. Self-efficacy predicted only three factors of psychological preparation and finance management mediated the relationship between self-efficacy and personal initiative. With these findings, it was concluded that individuals with capacity to adapt new changes can easily re-engage in other jobs. Similarly, those concerned with their social identity will focus on developing career skills that would yield the same level of importance in society. However, finance management training is crucial to the development of strategies and competences that empower people to maintain satisfying lifestyles after retirement. Finally, self-efficacy is a driving factor of personal initiative but the relationship is reinforced when finance management competences are acquired.