Increased wealth and income as correlates of self-assessed retirement.

TitleIncreased wealth and income as correlates of self-assessed retirement.
Publication TypeJournal Article
Year of Publication2006
AuthorsCaputo, RK
JournalJ Gerontol Soc Work
Date Published2006
ISSN Number0163-4372
KeywordsAged, Data collection, Employment, Female, Financing, Personal, Humans, Income, Interviews as Topic, Male, Middle Aged, Motivation, Organizational Policy, Pensions, Retirement, Self-Assessment, Social Security, Socioeconomic factors, United States

This study examined whether retirement implies complete withdrawal from the labor force and the role that increased wealth and income play in regard to the nature of retirement. Data came from the Health & Retirement Study, Waves 1-5. Findings indicated that most study sample pre-retirees remained in the labor force as they moved into what are considered the normal retirement years. As they moved on average from 50+ years of age to 60+ years of age, increasing percentages of study sample pre-retirees reported themselves as completely retired. Those who viewed themselves as completely retired were far less likely to work than those who did not view themselves as completely retired. Of particular importance was the finding that increased income in 2000 decreased the likelihood of self-reported complete retirement. Equally important was the finding that increased assets had no effect on retirement status with the exception of survey year 1998 when increased assets decreased the likelihood of viewing oneself as completely retired. Findings suggested that pro-work retirement policies aimed at increasing labor force participation among pre-retirees and increasing the normal retirement age can be effective. Five pro-work policies were discussed.

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Endnote Keywords

Labor Force/Retirement Behavior/Retirement Incomes

Endnote ID


Alternate JournalJ Gerontol Soc Work
Citation Key7092
PubMed ID16901883