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The effects of retirement on sense of purpose in life : crisis or opportunity?
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Yemiscigil, Ayse, Whillans, Ashley and Powdthavee, Nattavudh (2021) The effects of retirement on sense of purpose in life : crisis or opportunity? Psychological Science, 32 (11). pp. 1856-1864. doi:10.1177/09567976211024248 ISSN 1467-9280.
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Official URL: https://doi.org/10.1177/09567976211024248
Abstract
Does retirement lead to an existential crisis or present an opportunity to experience a renewed sense of purpose in life? Prior research has documented a negative association between retirement and sense of purpose in life, suggesting that retirement could lead people to feel aimless and lost. We revisited these findings using a quasiexperimental approach and identified the causal impact of retirement on purpose in life. In a nationally representative panel of American adults (N = 8,113), we applied an instrumental-variable analysis to assess how Social Security retirement incentives in the United States drove differences in the likelihood of retirement. Results showed a sizable increase in purpose in life as an outcome of retirement. These improvements were driven by individuals with lower socioeconomic status who retired from dissatisfying jobs. The findings suggest that retirement may provide an opportunity to experience a renewed sense of purpose, especially among socioeconomically disadvantaged populations.
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HQ The family. Marriage. Woman |
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| Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Retirement , Retirement -- Psychological aspects, Retirement -- Social aspects, Retirement -- Economic aspects, Life span, Productive, Age and employment, Social security -- United States | ||||||||
| Journal or Publication Title: | Psychological Science | ||||||||
| Publisher: | Sage Publications Ltd. | ||||||||
| ISSN: | 1467-9280 | ||||||||
| Official Date: | 1 November 2021 | ||||||||
| Dates: |
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| Volume: | 32 | ||||||||
| Number: | 11 | ||||||||
| Page Range: | pp. 1856-1864 | ||||||||
| DOI: | 10.1177/09567976211024248 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Reuse Statement (publisher, data, author rights): | Posted ahead of print. Yemiscigil, Ayse, Whillans, Ashley and Powdthavee, Nattavudh (2021) The effects of retirement on sense of purpose in life : crisis or opportunity? Psychological Science. Copyright © 2021 by Association for Psychological Science. Reprinted by permission of SAGE Publications. Users who receive access to an article through a repository are reminded that the article is protected by copyright and reuse is restricted to non-commercial and no derivative uses. | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 28 April 2021 | ||||||||
| Date of first compliant Open Access: | 29 April 2021 | ||||||||
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