Retirement brings significant changes in income, social roles, relationships, and daily routines. While some may experience reduced emotional well-being following retirement, empirical findings show that the retirement experience varies from person to person.
Psychologists have long studied the impact of retirement on well-being, presenting contrasting theories. Role theory (Miller, 1965) proposes that losing one’s work role diminishes self-respect and identity, potentially leading to a decline in psychological well-being. By contrast, continuity theory (Atchley, 1993) argues that the work role is but one of many roles in life, and the continuity of other roles helps sustain well-being post-retirement.
There is a lack of consensus regarding the effect of retirement on well-being and health. However, factors such as economic resources and family dynamics play a key role. Insufficient income can lead to dissatisfaction, while self-efficacy and a satisfactory marital life help in adjusting to retirement. Engaging in activities post-retirement, such as caring for grandchildren or volunteering, also contributes to well-being.
Retirement is a complex and individualized experience influenced by various factors. Understanding these factors and the psychological theories behind them can help individuals navigate retirement more effectively, ensuring a satisfying and fulfilling post-retirement life.
