Economic Resources and Subjective Well-Being in Old Age

Weidekamp-Maicher, Manuela; Naegele, Gerhard

doi:10.1007/978-1-4020-5682-6_5

Cited by 6 publications

(2 citation statements)

References 15 publications

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“…The concept comes close to the concept of perceived income adequacy (Grable, Cupples, Fernatt, & Anderson, 2013), and they are used interchangeably. Another widely used concept describing the subjective economic well-being of the elderly is financial satisfaction (George, 1992;Weidekamp-Maicher & Naegele, 2007), but it can be understood also as a more comprehensive measure.…”

Section: Measures and Methodsmentioning

confidence: 99%

Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Palomäki

2018

Soc Indic Res

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the main finding being old-age people's paradoxically high financial satisfaction with relatively low income levels (Hansen, Slagsvold, & Moum, 2008). These studies are mainly crosssectional, which leaves unanswered many of the questions on how changes over time, such as retirement and ageing combined with income change affect financial satisfaction. Retirement has been hypothesized as causing either more or less deprivation than the changes in income would lead one to suspect (Berthoud, Blekesaune, & Hancock, 2009). According to the traditional line of thought, retirement occurs from full-time work to full-time old-age retirement. In reality the transition into old-age retirement takes place through different pathways. Most people in European countries transit from work into old-age retirement between the ages of 50 to 69. But for one in five the path is different, either because they transit into retirement from other statuses or do not actually consider themselves to be retired. (Eurostat, 2015). Older people's decision to withdraw from the labour market is shaped by the institutional setting of social protection domains (pensions, disability and employment), but also by individual and contextual factors (Debrand & Sirven, 2009), creating "pull" and "push" incentives for retirement (e.g. Hofäcker & Unt, 2013). The exit pathways from the labour market are shown to affect short-term life satisfaction (Wetzel, Huxhold, & Tesch-Römer, 2016), but the route in itself has not shown any independent effects on post-retirement health (Halleröd, Örestig, & Stattin, 2013) or later life overall (Hyde, Ferrie, Higgs, Mein, & Nazroo, 2004). Against this background, it is also essential to specify the association between retirement routes and financial satisfaction. This study explores the effect of retirement on individuals' subjective economic well-being in European countries. We distinguish between three different retirement routes, measured with preceding basic activity statuses. The study focuses on the experiences of those who worked and of those who were unemployed before retirement. People with different labour market statuses generally enjoy different levels of well-being, and retirement might have adverse consequences in relation to income level changes and perceived income adequacy. The goal is to find out how different retirement routes are associated with the perceived income adequacy and whether possible differences can be explained with different levels of income change. Retirement is analysed with EU-Silc panel data using individual fixed-effect models. Results are indicative of the short-term effects of different retirement pathways on subjective economic well-being. The following sections present, firstly, the relevant literature on the subject; secondly, the aim of the study, data, measures and methods; thirdly, the results; and finally, a conclusion and discussion of the results.

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Section: Measures and Methodsmentioning

confidence: 99%

Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Palomäki

2018

Soc Indic Res

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“…Without a comprehensive social security system, it is estimated that only one third of those in the Malaysian labor force will have some level of financial security in their old age. In contrast, in Germany, most of older men (91%) and older women (82%) draw pensions from the statutory old-age insurance system (Weidekamp-Maicher & Naegele, 2007). In the United States, older persons generally retire early for one of three reasons: (a) financial independence, (b) poor health, or (b) policies set forth by social security (Brady, Palermino, Scott, Fernandez, & Norland, 1987).…”

Section: Review Of Literaturementioning

confidence: 99%

Income Disparity among Older Malaysians

Masud¹,

Haron²

2014

RAE

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The aim of this paper is to explore income disparities among older Malaysians. The specific objective is to determine the income disparities among different groups by gender, ethnicity, stratum and region. A total of 2,327 Malaysians, ages 55 to 75, were interviewed for the study. The data show that primary sources of income for older Malaysians, women in particular, were their children. The income disparity among various groups of older Malaysians was rather wide. Men tended to earn higher incomes compared to women. There were income gaps by ethnicity, strata, and region. The income gap among the participants in this study was much wider compared to the general population. The disparity reflected differences in the older persons' ability to meet daily needs, highlighting the need for programs designed specifically to address poverty among older Malaysians.

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Measures of Economic Vulnerability

Henke

2020

Revisiting Economic Vulnerability in Old Age

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Economic Resources and Subjective Well-Being in Old Age

Cited by 6 publications

References 15 publications

Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Income Disparity among Older Malaysians

Measures of Economic Vulnerability

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