What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?

Esteban Calvo (), Kelly L. Haverstick and Steven Sass ()
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Steven Sass: Center for Retirement Research, Boston College
Authors registered in the RePEc Author Service: Steven A. Sass () and Steven A. Sass ()

Working Papers, Center for Retirement Research at Boston College from Center for Retirement Research

Abstract: This study explores the factors that affect an individual’s happiness while transitioning into retirement. Recent studies highlight gradual retirement as an attractive option to older workers as they approach full retirement. However, it is not clear whether phasing or cold turkey makes for a happier retirement. Using longitudinal data from the Health and Retirement Study, this study explores what shapes the change in happiness between the last wave of full employment and the first wave of full retirement. Results suggest that what really matters is not the type of transition (gradual retirement or cold turkey), but whether people perceive the transition as chosen or forced.

New Economics Papers: this item is included in nep-age and nep-lab
Date: 2007-10, Revised 2007-10
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Working Paper: What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement? (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:crr:crrwps:wp2007-18

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