Spending, Relationship Quality, and Life Satisfaction in Retirement

23 Pages Posted: 25 Sep 2017  

Michael S. Finke

The American College

Nhat Ho

Eastern New Mexico University

Sandra J. Huston

Texas Tech University

Date Written: September 23, 2017

Abstract

Prior economic research has focused on the relation between money and well-being, rather than how resources are used to elicit life satisfaction in retirement. Using Satisfaction with Life Scale (SWLS) along with data from the Health Retirement Study (HRS), this research explores how spending and relationship quality contribute to life satisfaction in retirement, controlling for financial and human capital factors. The results provide evidence to suggest that leisure spending, health status, and spousal and friend relationships have the greatest impact on creating life satisfaction during retirement, while other type of spending and children relationships do not.

Keywords: Retirement Spending, Relationship Quality, Life Satisfaction

JEL Classification: D12, I31, J26

Suggested Citation

Finke, Michael S. and Ho, Nhat and Huston, Sandra J., Spending, Relationship Quality, and Life Satisfaction in Retirement (September 23, 2017). 2018 Academic Research Colloquium for Financial Planning and Related Disciplines. Available at SSRN: https://ssrn.com/abstract=3041761 or http://dx.doi.org/10.2139/ssrn.3041761

Michael S. Finke

The American College ( email )

Bryn Mawr, PA 19010
United States

Nhat Ho (Contact Author)

Eastern New Mexico University ( email )

1500 S Ave K
Portales, NM 88130
United States
5755624496 (Phone)

Sandra J. Huston

Texas Tech University ( email )

2500 Broadway
Lubbock, TX 79409
United States

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