Predicting Wellbeing in Retirees During the COVID-19 Pandemic: The Roles of Meaning in Life and Goal Setting

Abstract

Restrictions introduced during the COVID-19 pandemic disrupted many retirees from being able to pursue their lifestyle retirement goals. This study examined the impact of lifestyle retirement goal disruption during the pandemic, sources of meaning in life, and goal setting behaviors (planfulness) on retiree wellbeing. In this quantitative study, retirees (n = 141) in Victoria, Australia completed an online survey in mid-2021 containing measures of sources of meaning in life, planfulness, and wellbeing. Qualitative data were also collected using a series of open-ended questions regarding the nature of retirement goal disruptions. Findings revealed that greater sources of meaning in life and planfulness significantly predicted greater wellbeing in retirees, as did being in a relationship and living in an urban/city location. Age, gender, and years retired were not associated with wellbeing. Planfulness moderated the association between COVID-19 goal-disruption and wellbeing. Open-ended responses indicated that retirement goals commonly affected by COVID-19 were travel and family-time. The study revealed that older adults were able to adjust during a time of crisis, with sources of meaning in life and planfulness being useful resources for wellbeing. Planfulness was an important buffer for those experiencing goal-disruption due to COVID-19.