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Front. Psychol. | doi: 10.3389/fpsyg.2018.01870

Psychological Antecedents of Retirement Planning: A Systematic Review

  • 1Management, Technology, and Economics, ETH Zürich, Switzerland

As workforce aging continues through the next decade, the number of persons who will retire from long-held jobs and careers will increase. In recent years, researchers across disciplines of psychology have focused attention on the impact of the retirement process on post-retirement adjustment and well-being. One area that has received attention from investigators in both psychology and economics pertains to the impact of retirement planning on the retirement decision and post-retirement adjustment. The objective of the current review is twohreefold. The first goal is to review the literature on retirement planning with attention to past conceptualizations and current theoretical specifications. Second, empirical work investigating the psychological antecedents of retirement planning is reviewed. The primary conclusion reached from this review is that, conceptually, retirement planning continues to be poorly delineated and, thereby, narrowly investigated. Empirically, cognitive antecedents of retirement planning continue to figure prominently in both workplace and retirement researches. The boundary conditions of retirement planning, as well as alternative mechanisms for adult wellbeing, are discussed. Specifically, retirement planning’s meaning amidst increasing job mobility and longer life expectancies are identified as two complementary areas for future empirical integration of work - retirement research domains.

Keywords: Retirement, Retirement planning, Retirement preparation, savings, individual differences

Received: 14 Aug 2017; Accepted: 12 Sep 2018.

Edited by:

Pablo Fernández-Berrocal, Universidad de Málaga, Spain

Reviewed by:

Massimo Miglioretti, Università degli studi di Milano Bicocca, Italy
Dana Unger, University of East Anglia, United Kingdom  

Copyright: © 2018 Kerry. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

* Correspondence: PhD. Matthew J. Kerry, ETH Zürich, Management, Technology, and Economics, Hofwisenstrasse 251, Zurich, 8057, Switzerland, Switzerland, mkkerry@gmail.com