Health, financial and social resources as mediators to the relationship between planning and satisfaction in retirement

Increasingly rapid demographic aging poses a challenge to the promotion of satisfaction in retirement. Because satisfaction in retirement is an important indicator of well-being and quality of life during retirement, it is necessary to analyze the predictors of satisfaction and build models that will help policymakers propose guidelines and initiatives in this area. Focusing on time and available resources, this study proposed and tested an explanatory model of satisfaction in retirement that assumes individual resources to be the mediator between retirement planning and satisfaction in retirement. The study included 1194 retirees between the ages of 44 and 88 from all regions of Brazil, of whom a slight majority (55.4%) were women. Participants responded to a questionnaire about satisfaction in retirement, individual resources, planning for retirement and socio-demographic characteristics. The proposed model was partially confirmed, in that only physical, financial and social resources were found to play a mediating role in the relationship between retirement planning and satisfaction in retirement. The results emphasize that it is important for retirement planning to focus on developing individual resources essential to well-being, especially those related to health, finances and relationships. The discussion also addresses the situation of retirees in Brazil and suggests improvements to the way well-being in retirement is conceived. The article concludes by recommending that other variables be included in future studies and that the model be tested in other contexts.