TY - JOUR
T1 - Positive psychological attributes and retirement satisfaction
AU - Asebedo, Sarah D.
AU - Seay, Martin C.
N1 - Publisher Copyright:
© 2014 Association for Financial Counseling and Planning Education®. All rights of reproduction in any form reserved.
PY - 2014
Y1 - 2014
N2 - This study investigated the association between positive psychological attributes and retirement satisfaction using a sample of 5,146 retired individuals from the 2006 and 2008 waves of the Health and Retirement Study (HRS). Utilizing Seligman’s (2012) well-being theory, positive psychological attributes, as represented by the acronym PERMA, were measured by dispositional optimism (Positive emotion), reading the newspaper daily and having a hobby (Engagement), family support (Positive relationships), purpose in life and religiosity (Meaning), and perceived mastery (Accomplishment). Significant evidence was found supporting the association between positive psychological attributes and retirement satisfaction. Specifically, results of the ordinal logistic model revealed that, holding all else constant, dispositional optimism, family support, purpose in life, and perceived mastery were each positively associated with retirement satisfaction. Relevant implications for financial planners, counselors and educators include learning and developing optimism, cultivating family relationships, fostering purpose in life, discovering accomplishment during retirement, and structuring a phased transition to retirement.
AB - This study investigated the association between positive psychological attributes and retirement satisfaction using a sample of 5,146 retired individuals from the 2006 and 2008 waves of the Health and Retirement Study (HRS). Utilizing Seligman’s (2012) well-being theory, positive psychological attributes, as represented by the acronym PERMA, were measured by dispositional optimism (Positive emotion), reading the newspaper daily and having a hobby (Engagement), family support (Positive relationships), purpose in life and religiosity (Meaning), and perceived mastery (Accomplishment). Significant evidence was found supporting the association between positive psychological attributes and retirement satisfaction. Specifically, results of the ordinal logistic model revealed that, holding all else constant, dispositional optimism, family support, purpose in life, and perceived mastery were each positively associated with retirement satisfaction. Relevant implications for financial planners, counselors and educators include learning and developing optimism, cultivating family relationships, fostering purpose in life, discovering accomplishment during retirement, and structuring a phased transition to retirement.
KW - HRS
KW - Positive psychology
KW - Psychological well-being
KW - Retirement satisfaction
KW - Subjective well-being
UR - http://www.scopus.com/inward/record.url?scp=84916879292&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:84916879292
SN - 1052-3073
VL - 25
SP - 161
EP - 173
JO - Journal of Financial Counseling and Planning
JF - Journal of Financial Counseling and Planning
IS - 2
ER -