Retirement Security is Not Just about Money

In this webinar, Jacquelyn James, who works for the Center on Ageing and Work, discusses retirement security from a psychological perspective. Our understanding of retirement has changed over time. Today, retirement occurs gradually. People may retire and then return to work.

Retirement security is “the knowledge our lives continue to matter.” Retirement today is less about money than remaining useful and engaged and finding purpose at an older age. James highlights different theories that can shape our approach to aging and retirement: lifestyle changes theory, productivity theory, life stages theory, and SOC theory (which advises us to be careful what we select to do, optimize strength, and compensate for weaknesses).

James argues that older adults feel better and are healthier when they remain deeply engaged with work, volunteer activities, caregiving, and education. It is through engagement that we can find a purpose that transcends the self. This means we should focus on longevity planning that allows us to be engaged for longer. We must also institute policies such as job training programs that support longer engagement by older adults.

SOURCE: The First Church in Belmont Unitarian Universalist • AUTHOR: Jacquelyn James, Senior Advisor of Sloan Research Network on Aging at Boston College, Former Founding Director of the Center of Aging at Boston College • LAST UPDATED: September 13, 2022