Economic satisfaction among American retirees

Abstract

Over the past three decades, the economic status of elderly Americans has vastly improved, but little is known about how satisfied elderly persons are with their economic lives. Using a national representative sample of retired workers from the New Beneficiary Followup Survey, this article presents the results of a Study on the effects of economic conditions and health status on economic satisfaction among American workers, 11 years after they started receiving social security benefits and/or Medicare coverage. The study found that both economic conditions and health status are significant determinants of economic satisfaction among these persons. More important, it found that good health contributes more to these persons' economic satisfaction than do good economic conditions.