Happier, healthier views of retirement

Despite all the gloomy predictions about Americans and retirement, two recent studies offer some reasons for optimism:

One study, published last month, enjoyed a burst of media attention for finding that as people get older they tend to become happier. But unmentioned in any of the newspaper accounts I saw was this related finding: Retirees tend to be happier than those who are working full-time. The study, by a University of Chicago sociologist, was originally published in the American Sociological Review.

Another study, released last fall, looked at the effect of retirement on people’s health, a subject of considerable folklore. The authors, from the University of Michigan and the Urban Institute, found no evidence that retirement was harmful and said it appeared, in fact, to have a positive health effect on men.

The two studies also align with our own survey of retired ConsumerReports.org subscribers, which found them to be a satisfied bunch, by and large.

So there you have it: Retirees are happier and, in the case of guys at least, healthier. What next: Smarter? Luckier? Better dancers? We await further research.

What do you think? Please let us know, below. Or join the discussions at our online retirement forum. —Greg Daugherty

Greg writes the “Retirement Guy” column each month for the Consumer Reports Money Adviser newsletter.

 

Comments

[Maurice Kearns]

Having worked in private industry as a minion for 40 years achieving middle/upper management with a BS & MS Degrees, I made the right choices. My Wife of 51 years worked for a State Government and retired from that State Government. We did not make a lot of money, but spent it wisely and paid off two homes which we currently own and that is a big plus. We are happier now than we have ever been as we travel when we want, take care of Grandchildren (when they were younger in another 2 states), generally do what we want. The big thing is we made the right choices after falling on our faces the first 10 years of marriage and learning big lessons. We live today on yesterdays successes and failures, hopefully, for tomorrow. As you know, tomorrow never comes.