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

See all articles by Aman Sunder

Aman Sunder

College for Financial Planning

Swarn Chatterjee

University of Georgia

Lance Palmer

University of Georgia

Joseph W. Goetz

University of Georgia

Date Written: February 6, 2016

Abstract

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

Sunder, Aman and Chatterjee, Swarn and Palmer, Lance and Goetz, Joseph W., How Retirees Prioritize Socializing, Leisure and Religiosity - A Research Based Study for Planners (February 6, 2016). Academy of Economics and Finance Journal, Volume 7, 2016. Available at SSRN: https://ssrn.com/abstract=2912625

Aman Sunder (Contact Author)

College for Financial Planning ( email )

9000 E. Nichols Ave
STE 200
Centennial, CO 80112
United States
7853176604 (Phone)

Swarn Chatterjee

University of Georgia ( email )

Athens, GA 30602-3622
United States

Lance Palmer

University of Georgia ( email )

United States

Joseph W. Goetz

University of Georgia ( email )

Athens, GA 30602-6254
United States

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