Liz Weston: How to cultivate a happier retirement

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Researchers have identified several factors besides money that contribute to a happier retirement, including good health, strong relationships, and a sense of purpose.

But setbacks are inevitable, in life and in retirement. Not everyone enjoys good health — and nobody enjoys it forever. Relatives die or move away. The pursuits you thought would give your life meaning may not or may not be possible: think of all the activities and plans that have been canceled because of the pandemic.

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Yet many retirees remain happy despite difficulties, and research shows that their psychological attitude contributes to how well they handle change.

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“Mindset is key and one of those things that we can control ourselves,” says executive and retirement coach Joe Casey, author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.

CULTIVATE OPTIMISM

A 2014 study by two researchers at Kansas State University found that people who are more optimistic tend to be happier in retirement. Participants’ optimism was measured by their agreement with statements such as “In uncertain times, I usually expect the best” and “Overall, I expect more good than bad to happen to me.”

Positive emotions like optimism help people be more resilient and think more creatively, while pessimism can make it harder to act productively or cope with difficult situations, says the study’s lead researcher Sarah Asebedo, now a professor at the School of the Texas Tech University Financial Planning.

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But don’t despair, pessimists: optimism can be learned.

“I think some people tend to be optimistic or pessimistic, but that doesn’t mean you can’t change your attitude and perspective on a situation,” says Asebedo, who also publishes the Journal of Financial Therapy.

Asebedo recommends psychologist Martin EP Seligman’s book, Learned Optimism: How to Change Your Mind and Your Life, which explains cognitive behavioral techniques to combat pessimism. If you need further or ongoing help, you should talk to a therapist to develop a more optimistic attitude.

“That’s not the Pollyannaish view,” Casey explains. “It’s really more like, ‘Okay, let’s look at the good.’

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CULTIVATE A POSITIVE VIEW OF AGING

While positive thinking in general can help you cope with life, positive thinking about aging can actually prolong your life.

A 2002 study led by Yale University professor Becca R. Levy found that people with more positive attitudes toward aging lived a median of 7.5 years longer than those with more negative attitudes. The gap persisted even after the researchers considered other factors that affect longevity, such as age, gender, socioeconomic status, health and loneliness.

Researchers looked at how study participants’ beliefs about aging predicted their survival up to 23 years later. The 338 men and 322 women aged 50 and over had responded to several statements about aging, including “As you get older you are less useful” and “I am as happy now as I was when I was younger”. ”

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Positive views of aging had a greater impact on longevity than many health factors. For example, low blood pressure or low cholesterol each contribute about four years of longevity. Other healthy behaviors, including not smoking, maintaining a healthy weight, and regular exercise, add one to three years to lifespan.

Levy’s research has also found that positive views about aging can protect against dementia and help people recover from health setbacks.

People can change their beliefs by becoming more aware of and challenging negative stereotypes about aging, writes Levy in her book, Breaking the Age Code: How Your Beliefs About Aging Determining How Long and Well You Live. She also recommends building intergenerational friendships to combat ageism and look for positive role models.

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CULTIVATE A GROWTH MINDSET

Casey says retired people can struggle when they think they’ve stopped advancing and that their days of learning new things are behind them. He coaches his clients to develop a “growth mindset” that embraces learning and change.

He points to research by Stanford University psychology professor Carol Dweck, author of Mindset: The New Psychology of Success. Dweck found that people who believe their intelligence and talents can be improved — what she calls a growth mindset — tend to be more successful in life than those who believe their abilities are innate — what she calls a fixed mindset.

Casey encourages clients not only to learn, but to challenge themselves. This can mean learning something that requires effort or mastering a skill.

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“Mastery gives you a sense of control and a sense of accomplishment that people often miss when they leave the more professional workplace,” says Casey.

But mastery also requires another aspect of a growth mentality: a willingness to take risks, accept mistakes and learn from them. That can be difficult for people who are good at their jobs, Casey says.

“They’re not used to being bad at anything,” he says. “In order to be good at something, to master something, you first have to be bad at it.”

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This column was provided to The Associated Press by personal finance website NerdWallet. Liz Weston is a columnist at NerdWallet, a certified financial planner and the author of Your Credit Score. Email: lwestonâ†*nerdwallet.com. Twitter: â†*lizweston.

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