It Takes More Than Savings to Be Happy in Retirement

If retirement happiness were all about dollars and cents, every well-funded retiree would be brimming with joy—but research (and real-world experience) consistently says otherwise. As Investopedia reports, the best predictor of retirement contentment isn’t just account balances; it’s a blend of good health, low debt, social engagement, and a purpose-filled lifestyle well before the final day on the job.

I shared my perspective for the piece: one of the most powerful things pre-retirees can do is “test drive” their future plans. As I told Investopedia, “If a client is still working, I suggest they ‘test’ their retirement lifestyle: try volunteering, join new groups, travel for a month, or take a sabbatical if possible. It’s better to discover what needs adjusting before making the leap.” This proactive approach helps uncover what truly brings meaning—and highlights what might need tweaking—before retirement is set in stone. In my experience, the retirees who stay happiest are those entering this new chapter with clear intentions, rich social ties, and “a willingness to reinvent themselves as circumstances change.”

The broader findings echo this advice: minimizing debt (especially non-mortgage debt) and prioritizing your physical health are huge contributors to satisfaction, sometimes more so than investment returns or pension statements. Joining community groups, making time for family and friends, or volunteering have all been shown to boost both physical and mental well-being in retirees. Importantly, people who “retire to” something—a meaningful routine, new hobbies, or community engagement—have a much smoother transition than those who only “retire from” their career.

Bottom line:

Building a successful retirement isn’t just about the right withdrawal rate or tax strategy. The happiest retirees are architects of their time, continuously learning, connecting, and adapting to new seasons of life. As I advise my clients, treat retirement like any other big life goal: experiment, adjust, and stay open to reinvention along the way. The result isn’t just a secure retirement, but a joyful and genuinely satisfying one.