Planning for retirement : Longitudinal effect on retirement resources and post-retirement well-being

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journal

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Detail(s)

Original languageEnglish
Article number1300
Journal / PublicationFrontiers in Psychology
Volume8
Issue numberJUL
Online published27 Jul 2017
Publication statusOnline published - 27 Jul 2017

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Abstract

Retirement is a major life event, and a positive adjustment to retirement is essential for maintaining physical and psychological well-being in later life. Previous research demonstrates that pre-retirement planning predicts post-retirement well-being. This study further explores the underlying mechanism between planning activities and post-retirement well-being. By applying the resource-based dynamic model (Wang et al., 2011), the present longitudinal study examines whether pre-retirement planning activities can increase the total resources of retirees, including tangible, mental and social resources, and consequently contribute to better psychological and physical well-being 1 year after actual retirement. A total of 118 Hong Kong Chinese retirees completed three assessments: Time 1 assessment was conducted 6 months before retirement, and Times 2 and 3 assessments were carried out 6 and 12 months, respectively, after retirement. Latent growth models were employed to examine changes in retirement resources and post-retirement well-being over time. Consistent with the proposition of the resource-based dynamic model, positive changes in well-being were observed in the retirees with increases in retirement resources between pre- and post-retirement phases. The results of the latent growth mediation models also support our prediction: retirees with more preparatory activities before retirement acquire greater resources at the initial stage, which contribute to positive changes in post-retirement well-being over time.

Research Area(s)

  • Chinese retirees, Physical well-being, Pre-retirement planning, Psychological well-being, Retirement resources

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