Many American retirees say they expertise elevated happiness after leaving the workforce, however 33% don’t really feel happier in retirement. And half of those say they often really feel lonely, MassMutual reported Wednesday.

The sizable minority that doesn’t really feel happier say they’ve much less alternative for courting and romance in retirement than they anticipated.

In distinction, retirees who’re a lot happier of their post-work years are likelier to fill their free time with social actions:

• Spending time with family members: 76%
• Exercising: 70%
• Pursuing hobbies: 63%
• Journey: 62%

PSB Insights carried out an internet ballot from Jan. 26 to Feb. 5 amongst 2,000 American retires (outlined as 15 or fewer years into retirement) and pre-retirees (these 15 or fewer years earlier than retirement). All respondents had been no less than 40 years outdated, had $50,000 or extra in financial savings/investments and at a minimal had a task of their family’s monetary decision-making. 

Expectations Belied

The examine discovered that whereas apprehensions and excessive hopes abound as folks head into retirement, discrepancies exist between what they anticipated and what transpires. 

Seventy-seven % of pre-retirees mentioned they anticipated feeling happier on a typical day in retirement, in contrast with 67% of present retirees who reported that they’re certainly happier. Three-quarters of pre-retirees anticipated to really feel much less burdened, which matches retirees’ experiences, in response to the ballot. 

Almost half of retirees reported having fewer monetary issues and being much less bored than they’d anticipated. A couple of third of retirees additionally take pleasure in extra free time and get to spend extra time with household and associates than they anticipated. 

Forty-four % of pre-retirees within the examine mentioned they really feel anxious about how their funds will assist them by retirement, and 34% of retirees cited well being points as their main concern. 

And though pre-retirees had envisaged an energetic retirement life-style with journey and train on the high of their lists, 83% of present retirees reported watching TV as their high exercise. 

“MassMutual’s analysis on retirement happiness underscores the significance of managing expectations and getting ready for retirement each financially and emotionally,” Paul LaPiana, head of brand name, product and affiliated distribution with MassMutual, mentioned in a press release. “The happiest retirees make investments not simply of their monetary futures but additionally of their social circles and bodily well being lengthy earlier than retirement.” 

These investments, LaPiana mentioned, may also help mitigate retirees’ loneliness, which the U.S. surgeon normal declared a public well being epidemic final yr.

Retirement Timing and Preparation

On common, 63 is the best age for retirement, and most retirees report retiring sooner than or precisely when anticipated, in response to the MassMutual examine. Nevertheless, future retirees might have extra problem retiring at their best age, it discovered. 

Forty-eight % of retired respondents mentioned they give up working sooner than they’d deliberate, often due to modifications at their job or as a result of they might afford to retire sooner. Seventeen % cited burnout for retiring earlier.