Attitudes Toward Retirement Drive the Effects of Retirement Preparation on Psychological and Physical Well-Being of Hong Kong Chinese Retirees Over Time

Abstract

Recent findings on retirement preparation found a positive impact on the psychological and physical well-being of retirees. However, the types of mental resources that are driving the relationship, such as attitudes toward retirement, only received limited attention. Reasoning from previous findings, we posit that attitudes toward retirement would explain the relationship between retirement preparation and well-being over time after retirement. A three-wave study was conducted in a sample of 130 Hong Kong Chinese retirees over a period of 1.5 years. Data were collected 6 months prior to retirement (T1) and 6 and 12 months after retirement (T2 and T3, respectively), in which preretirement preparation, attitudes toward retirement, and psychological and physical well-being were measured. The positive effect of T1 retirement planning on T3 physical and psychological well-being was partially mediated by T2 attitudes toward retirement. These results remain significant even after controlling for gender, education level, preretirement occupation, and well-being at T1. These findings reveal the role of attitudes toward retirement in driving postretirement adjustment over time.