Australian men risk being lonely and isolated in retirement unless they create social and leisure circles before giving up work, a new survey has found.
Dr Joanne Earl, the report's co-author, found that men prepare for their financial security in retirement but ignored plans for their happiness.
AdvertisementThe survey, which examined 377 men and women aged 50-66 years, revealed that more women concentrated on their health and leisure interests than men before entering retirement.
Dr Earl said: "Our finding is significant because a person's level of leisure involvement during their working years tends to predict their involvement during retirement. People are less likely to start new activities after retirement, so getting involved in activities and social activities pre-retirement make good sense."
She continued: "There is a strong emphasis in society to plan and save money for retirement but I think the bigger questions are: What am I saving for?' and, 'What do I really want to do when I retire?'."
The UNSW psychologist also suggested that employers should lent in a helping hand to their employees to plan all aspects of their retirement rather than just focusing on their financial future.
Dr Earl and her UNSW colleague PhD student Alexa Muratore further found that older workers were more likely to map finances for their retirement as compared to younger workers.
According to the study, high income workers were less likely to chart their post-retirement interests than lower-income workers and women with higher income and education qualification were more likely to get involved in health-promoting activities than men, lower income workers and those less educated.
The report was published in the Journal of Psychology and Aging.