How Retirees Prioritize Socializing, Leisure and Religiosity - A Research Based Study for Planners
Academy of Economics and Finance Journal, Volume 7, 2016
7 Pages Posted: 9 Feb 2017 Last revised: 7 Aug 2019
Date Written: February 6, 2016
Happiness and well-being are among the two most important goals for individuals approaching retirement and often form the basis of total income requirement during retirement. These goals are almost met when the household expenses are paid for, individual health is taken care of, and there is residual money available for social, leisure, and religious activities. Time spent on socializing, leisure, religiosity, and financial services is the main concern. We use the American Time Use Study (ATUS) 2013 Well-Being Module to examine the predicted probabilities of retirees' time spent in each activity of interest based on various demographic and socioeconomic factors.
Keywords: Retirement Planning, Financial Planning, ATUS, Gerontology, Leisure, Religiosity, Financial Well-being, Health Care Costs
JEL Classification: D03, D14, J14, J26
Suggested Citation: Suggested Citation