What’s the key to achieving retirement happiness?

investmentnews.com:

In a landscape of shifting retirement expectations, a new study from MassMutual sheds light on current retirees’ experiences and pre-retirees’ expectations, as well as the critical role of active lifestyles and financial planning.

The 2024 MassMutual Retirement Happiness Study, conducted by PSB Insights, surveyed 2,000 individuals aged 40 and over, all with a minimum of $50,000 in savings or investments and playing an active role in their household’s financial decisions.

The study found that a four-fifths majority of retirees (82 percent) feel more relaxed on a daily basis compared to their working years, which underscores the potential mental health benefits of retirement compared to the working-life stress many experience.

It also illuminates a discrepancy between expectation and reality for pre-retirees, with 77 percent anticipating greater happiness in retirement, compared to 67 percent of retirees who report actually experiencing this boost in happiness.

Physical and social activities emerged as key contributors to retirees’ happiness, with 76 percent who spend time with loved ones and 70 percent who regularly exercise reporting higher levels of contentment. These activities not only enhance physical health but also play a critical role in fostering social connections and emotional well-being in retirement.

The study also showcased the impact of financial advisors on retirement planning and satisfaction. For instance, 30 percent of retirees attribute their successful adaptation to financial changes to working with a financial advisor.

This is mirrored among pre-retirees, with 41 percent already engaging with financial advisors to navigate the complexities of retirement planning, highlighting the value placed on