TIAA
Assessment of Retirement Well-Being Measures
Pages
16
Time to read
21 mins
Publication
Language
English
Pages
16
Time to read
21 mins
Publication
Language
English
This technical report evaluates existing measures of retirement well-being, focusing on the discrepancies between subjective and objective assessments. It begins by outlining the current state of retirement preparedness in the U.S., noting that while many retirees express high levels of life satisfaction, objective financial measures indicate a significant number may struggle to maintain their pre-retirement standard of living. The report analyzes various public surveys, including the Health and Retirement Study and the National Health Interview Survey, to assess the consistency of subjective well-being measures across datasets. It further examines the relationship between subjective assessments and objective indicators, concluding that while physical health is a moderate predictor of life satisfaction, financial factors such as non-mortgage debt play a crucial role. The findings suggest that a comprehensive measure of retirement well-being should encompass multiple dimensions beyond financial assessments alone, highlighting the complexity of evaluating retirees' overall satisfaction.