Why is retirement satisfaction ‘a thing’?
An increasing number of women are living longer. The increasing number is linked to the post-war Baby Boom (BB)and this longer life is linked with our great health system and a wonderful Australian lifestyle. So more women, living longer means more women are heading for retirement. How will we find retirement satisfaction?
Many of we BB women have had a presence in the workforce – both paid and unpaid. People generally agree that women retire in a less than ideal financial position, and I am not going down this road today. The discussion I’d like to start here is about what factors might affect our satisfaction with retirement.
So what’s important to us in retirement?
When Lisa Borrero & Tina M. Kruger* interviewed six retired women in 2015, they identified five common things that are important for post-work satisfaction:
- Continuing the personal interests and hobbies we had during our working life into retirement.
- Friendships and the opportunity to contribute socially to maintain our identity.
- Involvement in continued learning.
- Opportunities to maintain connection with aspects of our former work role.
- Opportunities to help others.
They found that the number one factor determining our satisfaction in retirement is sustaining social contacts to maintain our sense of self.
So what can we take from this study?
While financial planning (for retirement) remains important, preparing ourselves for happy lives in retirement goes beyond economic security to involvement with others in whatever way makes us feel good.
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I’d love you to share your views in my blog. Do you agree with this study? What else is important to you? Where do you go to meet your needs?