According to new research, Americans are generally reporting less overall satisfaction with retirement.
According to a study published by the Employee Benefits Research Institute, the number of Americans over the last 14 years who say that their retirements are “very satisfying” has declined 11.9%, going from 60.5% in 1998 to 48.6% in 2012.
Additionally, the number of respondents who said that they were “not at all satisfied” with their retirements went from 7.9% to 10.5% over the same time period.
Not all news was bad, however. Those who said their retirements were “moderately satisfying” went from 31.7% to 40.9% from 1998 to 2012.
Trends in satisfaction also showed declines among those with the most assets, although the lowest asset quartile had a larger percentage drop among those who reported being “very satisfied” than among those in the highest asset quartile. The charts below depict the trends among these two asset quartiles from the study.
The study’s authors noted that because of this finding in particular, a retiree’s satisfaction is based on more than just how much money he has when he reaches his Golden Years.
The study also looked at factors such as age and health. Health was the most revealing – perhaps not surprisingly, respondents who reported being in “excellent health” were more likely (4 in 5) to report that they had a “very satisfying” retirement versus 1 in 4 people in poor health.
For more details, see the EBRI study results Trends in Retirement Satisfaction in the United States: Fewer Having a Great Time.