Skip to main content
SpringerLink
Log in

Affective Well-Being in Retirement: The Influence of Values, Money, and Health Across Three Years

  • Research Paper
  • Published:
Journal of Happiness Studies Aims and scope Submit manuscript

Abstract

In this study, personal values, health, and financial status were investigated as determinants of affective well-being in a sample of 371 recent retirees across 3 years. Personal values, measured with the Portrait Value Questionnaire (Schwartz et al. in J Cross Cult Psychol 32:519–542, 2001), were hypothesized to show direct links to positive affect (PA) and negative affect (NA) as well as to moderate the association between financial and health status and affective well-being. Using structural equation modeling, higher PA was predicted by female gender, better finances, fewer illnesses, and higher self-transcendence (ST), openness to change (OC), and conservation values. Higher NA was predicted by female gender, lower finances, more illnesses, higher self-enhancement (SE) and lower OC values. SE and OC values also moderated the association between financial status and PA. Longitudinal analyses indicated a relatively stable pattern of associations across 3 years. While the impact of finances on affect was stable over time, the effects of health and values increased across 3 years.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2
Fig. 3
Fig. 4

Similar content being viewed by others

Notes

  1. Ipsative scores are often used with the PVQ (Schwartz and Rubel, 2005). Ipsative scores are calculated by taking each individual’s mean score across all 40 PVQ items and subtracting it from the individual’s mean score for each value. The result is a deviation score representing the relative importance of each value in the system. In preliminary analyses, ipsative value scores showed almost no association with the outcome measures, whereas the raw mean scores showed robust associations. The raw mean scores were therefore used with the understanding that results should be interpreted in terms of the general importance of each value for an individual, not its importance relative to all other values.

References

  • Ackerman, S., Zuroff, D. C., & Moskowitz, D. S. (2000). Generativity in midlife and young adults: Links to agency, communion, and subjective well-being. International Journal of Aging and Human Development, 50, 17–41.

    Article  Google Scholar 

  • An, J. S., & Cooney, T. M. (2006). Psychological well-being in mid to late life: The role of generativity development and parent-child relationships across the lifespan. International Journal of Behavioral Development, 30, 410–421.

    Article  Google Scholar 

  • Bowlby, G. (2007). Defining retirement (Statistics Canada catalogue # 75001-XIE). Retrieved February 2, 2009, from the Statistics Canada website: http://www.statcan.gc.ca/bsolc/olc-cel/olc-cel?lang=eng&catno=75-001-X20071029584.

  • Brown, T. A., Chorpita, B. F., & Barlow, D. H. (1998). Structural relationships among dimension of the DSM-IV anxiety and mood disorders and dimensions of negative affect, positive affect, and autonomic arousal. Journal of Abnormal Psychology, 107, 179–192.

    Article  Google Scholar 

  • Brown, K. W., & Kasser, T. (2005). Are psychological and ecological well-being compatible? The role of values, mindfulness, and, lifestyle. Social Indicators Research, 74, 349–368.

    Article  Google Scholar 

  • Burroughs, J. E., & Rindfleisch, A. (2002). Materialism and well-being: A conflicting values perspective. Journal of Consumer Research, 29, 348–370.

    Article  Google Scholar 

  • Caprara, G. V., Caprara, M., & Steca, P. (2003). Personality correlates of adult development and aging. European Psychologist, 8, 131–147.

    Article  Google Scholar 

  • Carstensen, L. L., Isaacowitz, D. M., & Charles, S. T. (1999). Taking time seriously: A theory of socioemotional selectivity. American Psychologist, 54, 165–181.

    Article  Google Scholar 

  • Chan, R., & Joseph, S. (2000). Dimensions of personality, domains of aspiration, and subjective well-being. Personality and Individual Differences, 28, 347–354.

    Article  Google Scholar 

  • Deci, E. L., & Ryan, R. M. (2000). The “what” and “why” of goal pursuits: Human needs and the self-determination of behavior. Psychological Inquiry, 11, 227–268.

    Article  Google Scholar 

  • Diener, E., & Oishi, S. (2000). Money and happiness: Income and subjective well-being across nations. In E. Diener & E. M. Suh (Eds.), Culture and subjective well-being (pp. 185–218). Cambridge, MA: MIT Press.

    Google Scholar 

  • Diener, E., Sandvik, E., & Pavot, W. (1991). Happiness is the frequency, not the intensity, of positive versus negative affect. In F. Strack, M. Argyle, & N. Schwartz (Eds.), Subjective well-being: An interdisciplinary perspective (pp. 119–139). Elmsford, NY: Pergamon Press.

    Google Scholar 

  • Diener, E., & Seligman, M. E. P. (2004). Beyond money: Toward an economy of well-being. Psychological Science in the Public Interest, 5, 1–31.

    Article  Google Scholar 

  • Diener, E., Suh, E. M., Lucas, R. E., & Smith, H. L. (1999). Subjective well-being: Three decades of progress. Psychological Bulletin, 125, 276–302.

    Google Scholar 

  • Erikson, E. (1959). Identity and the life cycle. New York: International Universities Press.

    Google Scholar 

  • Eyal, T., Sagristano, M. D., Trope, Y., Liberman, N., & Chaiken, S. (2009). When values matter: Expressing values in behavioral intentions for the near vs. distant future. Journal of Experimental Social Psychology, 45, 35–43.

    Article  Google Scholar 

  • Gold, D. P., Andres, D., Etezadi, J., Arbuckle, T., Schwartzman, A., & Chaikelson, J. (1995). Structural equation model of intellectual change and continuity and predictors of intelligence in elderly men. Psychology and Aging, 10, 294–303.

    Article  Google Scholar 

  • Hellevik, O. (2003). Economy, values, and happiness in Norway. Journal of Happiness Studies, 4, 243–283.

    Article  Google Scholar 

  • Kashdan, T. B., & Breen, W. E. (2007). Materialism and diminished well-being: Experiential avoidance as a mediating mechanism. Journal of Social and Clinical Psychology, 26, 521–539.

    Article  Google Scholar 

  • Kasser, T. (2004). The good life or the goods life? Positive psychology and personal well-being in the culture of consumption. In A. P. Linley & S. Joseph (Eds.), Positive psychology in practice (pp. 55–67). Hoboken, NJ: Wiley.

    Google Scholar 

  • Kasser, T., & Ahuvia, A. (2002). Materialistic values and well-being in business students. European Journal of Social Psychology, 32, 137–146.

    Article  Google Scholar 

  • Kasser, T., & Ryan, R. M. (1993). A dark side of the American dream: Correlates of financial success as a central life aspiration. Journal of Personality and Social Psychology, 65, 410–422.

    Article  Google Scholar 

  • Kasser, T., & Ryan, R. M. (2001). Be careful what you wish for: Optimal functioning and the relative attainment of intrinsic and extrinsic goals. In P. Schmuck & K. M. Sheldon (Eds.), Life goals and well-being: Toward a positive psychology of human striving (pp. 116–131). Ashland, OH: Hogrefe & Huber.

    Google Scholar 

  • Kasser, T., Ryan, R. M., Couchman, C. E., & Sheldon, K. M. (2004). Materialistic values: Their causes and consequences. In T. Kasser & A. Kanner (Eds.), Psychology and consumer culture: The struggle for a good life in a materialistic world (pp. 11–28). Washington, DC: American Psychological Association.

    Chapter  Google Scholar 

  • Kim, J., & Moen, P. (2001). Is retirement good or bad for subjective well-being? Current Directions in Psychological Science, 10, 83–86.

    Article  Google Scholar 

  • Kunzmann, U. (2008). Differential age trajectories of positive and negative affect: Further evidence from the Berlin Aging Study. Journals of Gerontology. Series B, Psychological Sciences and Social Sciences, 63B, P261–P270.

    Google Scholar 

  • Larsen, R. J., & Prizmic, Z. (2008). Regulation of emotional well-being. In M. Eid & R. J. Larsen (Eds.), The science of subjective well-being (pp. 258–289). New York: Guilford Press.

    Google Scholar 

  • McAdams, D. P., de St.-Aubin, E., & Logan, R. L. (1993). Generativity among young, midlife, and older adults. Psychology and Aging, 8, 221–230.

    Article  Google Scholar 

  • Muthén, L. K., & Muthén, B. O. (2006). Mplus: Statistical analysis with latent variables (4th ed.). Los Angeles, CA: Muthén & Muthén.

    Google Scholar 

  • Oishi, S., Diener, E., Suh, E., & Lucas, R. E. (1999). Value as a moderator in subjective well-being. Journal of Personality, 67, 157–184.

    Article  Google Scholar 

  • Oreg, S., Bayazit, M., Vakola, M., Arciniega, L., Armenakis, A., Barkauskiene, R., et al. (2008). Dispositional resistance to change: Measurement equivalence and the link to personal values across 17 nations. Journal of Applied Psychology, 93, 935–944.

    Article  Google Scholar 

  • Pavot, W. (2008). The assessment of subjective well-being. In M. Eid & R. J. Larsen (Eds.), The science of subjective well-being (pp. 124–140). New York: Guilford Press.

    Google Scholar 

  • Piazza, J. R., Charles, S. T., & Almeida, D. M. (2007). Living with chronic health conditions: Age differences in affective well-being. Journals of Gerontology. Series B, Psychological Sciences and Social Sciences, 62B, P313–P321.

    Google Scholar 

  • Pinquart, M., & Schindler, I. (2007). Changes in life satisfaction in the transition to retirement: A latent-class approach. Psychology and Aging, 22, 442–455.

    Article  Google Scholar 

  • Pushkar, D., Arbuckle, T., Rousseau, F., & Bourque, P. (2003). Réussir sa vieillesse: La vision des aînés [Successful aging: The eye of the beholder]. Revue Québécoise de Psychologie, 24, 155–174.

    Google Scholar 

  • Pushkar, D., Etezadi, J., Chaikelson, J., Conway, M., Giannopolous, C., Li, K., et al. (in press). A continuity model of retirement satisfaction incorporating reasons for retirement and sources of enjoyment. Journals of Gerontology: Psychological Science.

  • Ryan, R. M., Sheldon, K. M., Kasser, T., & Deci, E. L. (1996). All goals were not created equal: The relation of goal content and regulatory styles to mental health. In J. A. Bargh & P. M. Gollwitzer (Eds.), The psychology of action: Linking cognition and motivation to behavior (pp. 7–26). New York: Guilford Press.

    Google Scholar 

  • Sagiv, L., Roccas, S., & Hazan, O. (2004). Value pathways to well-being: Healthy values, valued goal attainment, and environmental congruence. In A. P. Linley & S. Joseph (Eds.), Positive psychology in practice (pp. 68–85). New York: Wiley.

    Google Scholar 

  • Sagiv, L., & Schwartz, S. H. (2000). Value priorities and subjective well-being: Direct relations and congruity effects. European Journal of Social Psychology, 30, 177–198.

    Article  Google Scholar 

  • Schimmack, U. (2008). The structure of subjective well-being. In M. Eid & R. J. Larsen (Eds.), The science of subjective well-being (pp. 97–123). New York: Guilford Press.

    Google Scholar 

  • Schwartz, S. H. (1992). Universals in the content and structure of values: Theoretical advances and empirical tests in 20 countries. In M. Zanna (Ed.), Advances in experimental social psychology (pp. 1–65). New York: Academic Press.

    Google Scholar 

  • Schwartz, S. H., & Boehnke, K. (2004). Evaluating the structure of human values with confirmatory factor analysis. Journal of Research in Personality, 38, 230–255.

    Article  Google Scholar 

  • Schwartz, S. H., Melech, G., Lehmann, A., Burgess, S., Harris, M., & Owens, V. E. (2001). Extending the cross-cultural validity of the theory of basic human values with a different method of measurement. Journal of Cross Cultural Psychology, 32, 519–542.

    Article  Google Scholar 

  • Schwartz, S. H., & Rubel, T. (2005). Gender differences in value priorities: Cross-cultural and multimethod studies. Journal of Personality and Social Psychology, 89, 1010–1028.

    Article  Google Scholar 

  • Sheldon, K. (2005). Positive value change during college: Normative trends and individual differences. Journal of Research in Personality, 39, 209–223.

    Article  Google Scholar 

  • Sheldon, K., Elliot, A. J., Ryan, R. M., Chirkov, V., Kim, Y., Wu, C., et al. (2004). Self-concordance and subjective well-being in four cultures. Journal of Cross-Cutural Psychology, 35, 209–223.

    Article  Google Scholar 

  • Silfver, M., Helkama, K., Lönnqvist, J. E., & Verkasalo, M. (2008). The relation between value priorities and proneness to guilt, shame, and empathy. Motivation and Emotion, 32, 69–80.

    Article  Google Scholar 

  • Singh-Manoux, A., Adler, N. E., & Marmot, M. G. (2003). Subjective social status: Its determinants and its association with measures of ill-health in the Whitehall II study. Social Science and Medicine, 56, 1321–1333.

    Article  Google Scholar 

  • Statistics Canada. (2005). Population projections for Canada, provinces, and territories, 2005 to 2031. Retrieved February 2, 2009, from http://www.statcan.gc.ca/daily-quotidien/051215/dq051215b-eng.htm.

  • Statistics Canada. (2006). A portrait of seniors in Canada. Statistics Canada catalogue # 89-519-XIE. Retrieved August 29, 2009, from http://www.statcan.gc.ca/bsolc/olc-cel/olc-cel?lang=eng&catno=89-519-X.

  • Szinovacz, M. E., & Davey, A. (2004). Honeymoons and joint lunches: Effects of retirement and spouse’s employment on depressive symptoms. Journals of Gerontology. Series B, Psychological Sciences and Social Sciences, 59B, P233–P245.

    Google Scholar 

  • Torelli, C. J., & Kaikati, A. M. (2009). Values as predictors of judgments and behaviors: The role of abstract and concrete mindsets. Journal of Personality and Social Psychology, 96, 231–247.

    Article  Google Scholar 

  • Van Solinge, H., & Henkens, K. (2008). Adjustment to and satisfaction with retirement: Two of a kind? Psychology and Aging, 23, 422–434.

    Article  Google Scholar 

  • Wang, M. (2007). Profiling retirees in the retirement transition and adjustment process: Examining the longitudinal change patterns of retirees psychological well-being. Journal of Applied Psychology, 92, 455–474.

    Article  Google Scholar 

  • Watson, D., Clark, L. A., & Tellegen, A. (1988). Development and validation of brief measures of positive and negative affect: The PANAS scales. Journal of Personality and Social Psychology, 54, 1063–1070.

    Article  Google Scholar 

  • Wyler, A. R., Masuda, M., & Holmes, T. H. (1967). Seriousness of illness rating scale. Journal of Psychosomatic Research, 11, 363–374.

    Article  Google Scholar 

Download references

Acknowledgments

This research was funded by master’s and doctoral level fellowships awarded to the first author from the Social Sciences and Humanities Research Council of Canada (SSHRC) and the Fonds de Recherche en Société et Culture (FQRSC), as well as by a grant awarded by the Canadian Institutes of Health Research (grant M00074) to Dolores Pushkar, June Chaikelson, Michael Conway, Jamshid Etezadi, Dina Giannopoulos, Karen Li, and Carsten Wrosch. The authors would like to thank Shalom Schwartz, Michael Conway, Sarah Etezadi and Claude Senneville for their contributions to this project.

Author information

Authors and Affiliations

  1. Psychology Department, Centre for Research in Human Development, Concordia University, 7141 Sherbrooke St. West, PY-170, Montreal, QC, H4B 1R6, Canada

    Andrew Burr, Jonathan B. Santo & Dolores Pushkar

Authors
  1. Andrew Burr
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Jonathan B. Santo
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Dolores Pushkar
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Andrew Burr.

Rights and permissions

Reprints and permissions

About this article

Cite this article

Burr, A., Santo, J.B. & Pushkar, D. Affective Well-Being in Retirement: The Influence of Values, Money, and Health Across Three Years. J Happiness Stud 12, 17–40 (2011). https://doi.org/10.1007/s10902-009-9173-2

Download citation

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s10902-009-9173-2

Keywords

Search

Navigation