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Consequences of retirement.

E B Palmore, G G Fillenbaum, L K George

    Journal of Gerontology
    |January 1, 1984
    PubMed
    Summary
    This summary is machine-generated.

    Retirement significantly impacts income but has minimal effects on health, social activity, and life satisfaction. Early retirement shows stronger consequences than retiring at normal ages.

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    Area of Science:

    • Sociology
    • Gerontology
    • Economics

    Background:

    • Understanding the multifaceted impacts of retirement is crucial for individuals and policymakers.
    • Previous research has yielded mixed results on retirement's effects on various life domains.

    Purpose of the Study:

    • To investigate the consequences of retirement on income, health, social activity, and attitudes.
    • To differentiate the effects of early retirement versus retirement at normal ages.

    Main Methods:

    • Analysis of six longitudinal data sets.
    • Controlling for pre-retirement characteristics to isolate retirement's impact.

    Main Results:

    • Retirement accounts for 50-75% of income differences between retired and working men.

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  • Minimal impact of retirement on health, social activity, and attitudes like life satisfaction.
  • Early retirement demonstrates more pronounced effects compared to retirement at normal ages.

    • Conclusions:

    • Retirement's consequences are contingent upon the specific outcome measured and the timing of retirement.
    • Income is significantly affected, while health and psychosocial well-being show resilience to retirement.