Affective Well-Being in Retirement: The Influence of Values, Money, and Health Across Three Years

In this study, personal values, health, and financial status were investigated as determinants of affective well-bring in a sample of 371 recent retirees across 3 years. Personal values, measured with the Portrait Value Questionnaire (Schwartz et al. in J Cross Cult Psychol 32:519–542, 2001), were hypothesized to show direct links to positive affect (PA) and negative affect (NA) as well as to moderate the association between financial and health status and affective well-being. Using structural equation modeling, higher PA was predicted by female gender, better finances, fewer illnesses, and higher self-transcendence (ST), openness to change (OC), and conservation values. Higher NA was predicted by female gender, lower finances, more illnesses, higher self-enhancement (SE) and lower OC values. SE and OC values also moderated the association between financial status and PA. Longitudinal analyses indicated a relatively stable pattern of associations across 3 years. While the impact of finances on affect was stable over time, the effects of health and values increased across 3 years