Personality, health, wealth, and subjective well-being: Testing a integrative model with retired and working older adults

The current study tests an integrative model based on resource theories of retirement examining the relationships among personal resources (i.e., health and wealth), the Big Five, and subjective well-being in late life. We used a subsample (N = 2,518) of participants across two cohorts from the Health and Retirement Study (HRS). All participants were working at Time 1 and a subsample retired between Time 1 and Time 2. A multi-group structural equation model compared the relationships among personality, health, wealth, and well-being between those who continued working and those who retired. Results suggest that wealth and health are related to personality traits (i.e., conscientiousness, neuroticism, and agreeableness), but provide no evidence that the relationships are different for retired and working adults.