Marital Status and Financial Satisfaction During Retirement
Author Information
Author(s): Jang Jeein, Stokes Jeffrey, Burr Jeffrey
Primary Institution: University of Massachusetts Boston
Hypothesis
Does the transition to full retirement affect financial satisfaction differently based on marital status in South Korea and the US?
Conclusion
Retirement is linked to lower financial satisfaction over time, with cultural and economic factors influencing this relationship.
Supporting Evidence
- Retirement is associated with lower financial satisfaction at baseline and over time in both countries.
- Men have higher financial satisfaction than women in both studies.
- The effect of retirement on financial satisfaction is greater in South Korea than in the United States.
- Marital status buffers the relationship between retirement and financial satisfaction in the US.
Takeaway
When people retire, they often feel less happy about their money, and this can be different for married and single people depending on where they live.
Methodology
The study used linear mixed-effect models to analyze data from two nationally representative cohorts of adults aged 51 and over.
Limitations
The study may not account for all cultural and economic factors affecting financial satisfaction.
Participant Demographics
Adults aged 51 and over from South Korea and the US.
Digital Object Identifier (DOI)
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