A Critical Analysis of Expected and Actual Finances Among Retired Women and Men

Abstract

A critical gerontology perspective is used to compare and contrast expected retirement resources just prior to retirement with actual resources received six months after retirement. A sample of 242 retirees (125 men and 117 women) from a variety of occupational backgrounds was used. Retirement resources were measured by analyzing six financial indicators of retirement resources used in previous research. Independent variables were organized into three categories; (1) retirement as a social institution; (2) retirement as a distributional issue; and (3) retirement as a life stage. Multiple regression analyses of six expected retirement resources and six actual retirement resources revealed more variance explained in the actual models. Distributional inequities by gender, race, and income were the most salient predictors of limited resources. The findings suggest substantial discrimination in current retirement policies and explain why so many older women as well as elderly from diverse ethnic backgrounds cannot maintain continuity, but instead experience major economic losses during their retirement years.

Key Words:

• Gender
• retirement
• expected financial resources
• actual financial resources
• critical theory
• continuity
• discrimination