Plan for your Retirement Satisfaction

Whether you’re already retired or you’re starting to think about what retirement means to you, now’s the time to ensure that you have a plan in place to make your dreams a reality.

The Research

Most of the existing research conducted on the retired population focuses on how a person’s economic well-being impacts their retirement satisfaction. However, because economic wellbeing is not the sole indicator of retirement satisfaction, the Employee Benefit Research Institute (EBRI) conducted research analyzing some additional factors. These factors include:

• Trends reported in retirement satisfaction using data from the University of Michigan’s Health and Retirement Study (HRS). This was data collected through surveying older Americans over the course of 15 years
• The relationship between age and retirement satisfaction by tracking the satisfaction levels of the same groups of people over the same 15-year period as the HRS
• The relationship between genders in retirement satisfaction

The Results

The 2016 Employee Benefit Research Institute study analyzed retirement satisfaction from 1998 to 2012. The research report shows that over the course of 15 years, retirement satisfaction dropped almost 12 percentage points (60.5% to 48.6%). The research also shows an increase of 2.6% in those who reported “not at all satisfied” with their retirement.

Additional results show a shift from very satisfied to moderately satisfied as people age, and that there is very little difference in retirement satisfaction between men and women.

The research indicates higher net worth and health status correlates with greater retirement satisfaction, while lower net worth and health status correlates with lower retirement satisfaction.

While the study does not go into the reasons why there is a steady downward trend in retirement satisfaction, it does make us wonder what’s causing it. It also makes us wonder, what can we do to change this outcome?

The Reality

Retirement is the time to check things off your bucket list. Maybe you are going to finally take that trip you always wanted to take. Maybe you’re looking forward to more activities with your grandchildren. Perhaps now you have some more free time to volunteer and give back to the community. The reality is, the freedom to choose whatever you want to do isn’t possible unless you plan ahead.

The Reason

Friends Life Care was founded to help members remain healthy, active and in their own homes as they age.  Membership is a smart financial plan for your future. Friends Life Care offers a unique approach to maintaining your independence as you age, with Care Coordination that helps ensure you receive care if and when you need it.

Becoming a member of Friends Life Care gives you access to:

• Long term care plans– financial benefits for protecting your assets and allowing you to afford care in the future
• Care Coordination– starting with a focus on wellness and prevention and including coordination of your care as-needed and covered by your membership
• VigR™grounded in Friends Life Care’s philosophy of vitality, independence, growth and resilience, events and resources are offered to keep you healthy and actively enjoying the lifestyle you’ve built and invested in.
• And so much more

Now is the time to plan.

See our resources below so we can help ensure your retirement is satisfactory or more.

Click here to download our free retirement guide, “Are You Ready.” In this guide, you’ll think about:

• Am I ready for retirement?
• Where do I want to live?
• Have I saved enough?
• ​If you want to stay in your home for the rest of your life, why is Friends Life Care membership a great option?

Again, The Research

Retirement satisfaction has declined steadily for the last 15 years, and good health and financial stability are two major influencers. Friends Life Care can improve this statistic by providing you the peace of mind of knowing that you’ll have wellness resources, interventions, and events available to you as you age and that you’ll be financially prepared for any care you may eventually need. The cherry on top is that your care will be professionally coordinated for you. Friends Life Care is honored to help a community of almost 2,500 members enjoy a satisfying retirement experience.