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Economic Adjustments of Households on Entry Into Retirement

University of Memphis

Michael L. Nieswiadomy

University of North Texas

This study focuses on economic adjustment to a major life-cycle turning point, the entry into full retirement, and its immediate impact on income and spending patterns. Cross-sectional data from the Bureau of Labor Statistics Consumer Expenditure Survey interview tapes are analyzed for 1984-1987. Tobit regression analysis of socioeconomic variables on 31 expenditure categories reveals significant increased proclivities to spend on transportation, health, entertainment, and trips immediately after retirement. Older retirees spend less than do younger retirees for all expenditure categories except health insurance and gifts. Singlefemales suffer the most substantial decline in postretirement income, but this is not offset by concurrent expenditure decreases. This unsustainable dissaving rate after retirement poses a severe problem for single women.

Journal of Applied Gerontology, Vol. 14, No. 4, 467-482 (1995)
DOI: 10.1177/073346489501400407


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