Predictors Of Financial Satisfaction: Differences Between Retirees And Non-retirees

The main purpose of this study was to identify differences in factors that predict financial satisfaction among retirees and non-retirees and to ascertain how retirees and non-retirees differ in financial beliefs and behavior. Non-retirees were more likely than otherwise similar retirees to report worrying about finances. A higher proportion of non-retirees reported dissatisfaction with various aspects of their financial situation. However, non-retirees were more likely to perceive themselves as financially better off in comparison to others, or in relation to the past, than the retired respondents. Non-retirees were more optimistic about their future financial situation. Key Words: Financial situation, Retirees, Satisfaction Retirement refers to a condition in which an individual is forced or allowed to leave the labor market, or is employed less than full-time, and in which his or her income is derived, at least in part, from a retirement pension earned through past years of service as a job holder (Atchley, 1970). It is therefore the final phase of the occupational life cycle. The employment necessary t