Retirement Stage Research Articles

Model-Based Feature Information Network (MFIN): A Digital Twin Framework to Integrate Location-Specific Material Behavior Within Component Design, Manufacturing, and Performance Analysis

The digital transformation of manufacturing requires digitalization, including automatic and efficient data exchange. Model-based definitions (MBDs) capture digital product definitions, in order to eliminate error-prone information exchange associated with traditional paper-based drawings and to provide contextual information through additional metadata. The flow of MBDs extends throughout the product lifecycle (including the design, analysis, manufacturing, in service life, and retirement stages) and can be extended beyond the typical geometry and tolerance information within a computer-aided design. In this paper, the MBDs are extended to include materials information, via dynamic linkages. To this end, a model-based feature information network (MFIN) is created to provide a comprehensive framework that facilitates storing, updating, searching, and retrieving of relevant information across a product’s lifecycle. The use case of a damage tolerant analysis for a compressor bladed-disk (blisk) is demonstrated, in Ti-6Al-4V blade(s) linear friction welded to the Ti-6Al-4V disk, creating well-defined regions exhibiting grain refinement and high residuals stresses. By capturing the location-specific microstructure and residual stress values at the weld regions, this information is accessed within the MFIN and used for downstream damage tolerant analysis. The introduction of the MFIN framework facilitates access to dynamically evolving data for use within physics-based models (resulting in the opportunity to reduce uncertainty in subsequent prognosis analyses), thereby enabling a digital twin description of the component or system.

“I am still a teacher”: The place of the teaching career in the process of retirement adjustment

ABSTRACT The research examined the adjustment process to retirement among teachers during the initial stages of retirement. The focus on the specific sector of teachers is drawn from a theoretical foundation which indicates a connection between the type of work and the process of adjusting to retirement. The aim of the study was to expose the characteristics of a career in pedagogy that articulate teachers’ adaptation to retirement life. Based on semi-structured interviews with 30 teachers who have been retired for two to six years, it was found that the profession of teaching is reflected in the teachers’ experiences of adjusting to retirement at the psychological-personality level and the operational-practical aspect. Professional identity transfers with the teachers into retirement life. Personality traits, tendencies and skills acquired and developed during 30 years of teaching usher the teacher into the life of retirement. Moreover, the retired teacher’s daily activities are influenced by his/her teaching career.

The Portfolio Decisions for Assets with Varying Returns over Time and Labor Income

We will try to expand the analysis of assets including labor income in the decisions regarding the accumulation of assets and their allocation. This refers to pension funds and retirement income. Many issues arise in this context. We need to clarify whether future obligations can be covered by contributions from labor income and assets; what fraction of the income must be saved in order to obtain sufficient retirement income; there will be sufficient income and income from pensions at the complete retirement stage; to what extent retirement funds should be engaged in risky assets or which are the relevant factors that determine the upward or downward evolution of assets and the dispersion of capital. The issues mentioned are of a complex political and financial nature. As regards pension and pension funds, in many countries, the tendency is to establish a three-pillar system for pension income: first, a social security system, secondly, a pension fund. related to work and thirdly, a private pension fund. For most of these pillars, saving on labor income, in addition to capital income, has become an important element. Both help reduce the risk and increase the pension income. As we will see, income from work is also important for the problem of wealth growth. This aspect suggests several directions regarding the design of pension funds, as well as the saving and portfolio decisions regarding labor income. Portfolio studies that include labor income are rare. It was emphasized that financial theory should not be used primarily to "hit the market" but to contribute to raising the capital of households. Fund management should be primarily a dynamic diversification, provide provisions against adverse shocks and ensure the accumulation of sufficient wealth for future periods. Traditional mutual funds, as well as insurance schemes and publicly supported pension funds are management tools that address these issues. However, one also needs well-regulated financial institutions to help serve what the financial theory has actually proposed: serving individuals and households with assets and labor income to provide sufficient pension and temperance funding. adverse shocks.

The Retirement Effect on Mental Health in Europe During 2004-2015: Evidence of Ashenfelter's Dip from SHARE Panel Data

In this study, using panel data from the Survey of Health, Ageing and Retirement in Europe (SHARE), we investigate the levels of depression of European adults around the time of retirement. Fixed-effect models are employed to control for unobserved time-invariant confounding factors, and instrumental variables are included to address potential endogeneity bias. Further, we consider various reasons for retirement and, unlike previous studies on the topic, compare the levels of depression before and after retirement. Our results indicate that retirement based on aspirational motivations and positive circumstances reduces depression significantly; there is scant evidence that retiring under negative circumstances could affect mental health. Fixed-effects models indicate that, overall, retiring reduces retirees’ depression. When instrumental variables are specified in the model, retirement is shown to have small, unstable impacts on mental health. Notably, adults who plan to retire in the next two years experience less depression compared to others in the workforce. These adults appear to adjust their lifestyles in response to their impending retirement, showing evidence of Ashenfelter’s dip. Two years after retirement, when the “honeymoon” phase is over, an increase in the depression level among retirees brings their average mental health to a normal level. From this point in time, retirees may have completely adapted to their new lives and the effect of retirement is no longer important. Various models of retirement stages in the literature support these findings.

Субъективная картина профессионального жизненного пути педагогов с различным уровнем ответственности

The work of the teacher requires taking responsibility for a variety of activities. Such responsibility is in the interests of the students, but the influence of a teacher’s personal responsibility on his or her own well-being remains practically unexplored. A sense of responsibility integrated in the system of a teacher’s personal qualities can improve the teacher’s quality of life, since responsibility includes the ability to assign meaning to the process and the result of an activity. Our research was aimed at studying the subjective view which female teachers of a mature age with different levels of responsibility have on their professional life journey. We hypothesised that different degrees of responsibility result in different characteristics of the subjective view of teachers’ professional life journeys. We then surveyed 43 teachers (all female, aged 45–60) employed in secondary schools in St Petersburg with teaching experience of 12–38 years. Conclusions: Emotional acceptance of responsibility by a teacher in the spheres of personal achievement, family life, and career is positively interconnected with such important characteristics as a positive attitude towards events and stages of life, the view on crises, the later stages of career, and retirement. A low level of emotional acceptance of responsibility is associated with ignoring crises, while a low degree of responsibility in regard to personal health can be linked with a negative assessment of past events. Teachers commonly perceive the past as expansive in terms of both events and stages of life, and view the future as less extended. We propose that resources for adaptation to the crisis of mature age can be found in re-evaluating the stages and events of the past. The extent to which teachers with a high degree of responsibility analyse past events is lower than their level of attention to present and future events, which indicates their greater sense of conscious control in the present. During subjective assessment of events, the past was rated more negatively in the group of respondents with a high degree of responsibility, whereas the present and the future were rated more positively. In the group with a low degree of responsibility, a positive image of the past was replaced by a negative view on the present and future. Core value orientations of the respondents were not interrelated with the degree of responsibility; professionalism, social values, and emotional intensity of life were put first, which can be explained by the specifics of pedagogical activity. For the group with a higher degree of responsibility a positive attitude to the later stages of career and retirement is common as well as a positive crises reorganisation.

Optimal Longevity Risk Management in the Retirement Stage of the Life Cycle

The uncertainty in life expectancy plays a critical role in individual financial planning. Its impact is magnified during the retirement years (the wealth distribution stage of the life cycle), as new sources of income typically are not available to retired persons. Utilizing a multi-stage stochastic program, the authors model and solve the optimal asset allocation problem of a retired couple with uncertain life expectancy in the presence of a term life insurance policy. In the base case, they find optimal policies assuming no longevity risk (i.e., lifetime scenarios are uncertain although life expectancy is fixed on the retirement date). Next, they introduce longevity risk in the scenario generation stage through either a shift in the expected lifetimes or an unexpected cut in periodic retirement income. The authors find that the optimal asset allocation policy depends on the presence and the type of these risks, as well as the relative price of insurance and the size of any cut in pension benefits.

Deferred Income Annuity Purchases: Optimal Levels for Retirement Income Adequacy

The prospect of outliving retirement savings is a very real risk for many Baby Boomers and Gen Xers. Yet, only a very small percentage of defined contribution (DC) and individual retirement account (IRA) balances are annuitized — and a significant percentage of defined benefit (DB) accruals have been taken as lump-sum distributions when the option was available. Some believe that cost is an issue; Deferred Income Annuities (DIAs) are designed to reduce the probability of outliving savings by providing monthly benefits in the later stages of retirement. Because of their delayed payments, DIAs could be offered for a small fraction of the cost for a similar monthly benefit through an annuity that starts payments immediately at retirement. Many believe that the lower cost would at least partially mitigate retirees’ reluctance to give up control over a large portion of their DC and/or IRA balances at retirement age. New research was prepared for this Issue Brief to explore how the probability of a “successful” retirement, measured by the EBRI Retirement Readiness Rating (RRR), varies with the percentage of the 401(k) balance that is used to purchase a DIA. Results are provided for all households (with a 401(k) balance) combined as well as by simulated age of death. The results are also provided by age-specific wage quartiles. We find that, at current annuity rates, purchases of a DIA at age 65 deferring 20 years with no death benefits result in an overall improvement in RRR (for all ages of death combined) for DIA purchases equal to 5, 10, 15, and 20 percent of the 401(k) balance. However, there is an overall decrease in RRR for DIA purchases equal to 25 and 30 percent — due in part to the interaction with long-term care costs. If a pre-commencement death benefit is added to the DIA, there is an overall improvement in RRR for DIA purchases equal to 5, 10, and 15 percent of the 401(k) balance. When the results are broken out by age at simulated death, we find overall decreases in RRR for those dying before benefits begin (ages 65–84) as well as for those dying soon after benefits begin (ages 85–89). For each of the groups living beyond age 89 we find an increase in RRR, and, as expected, the larger the percentage of 401(k) balance used to purchase a DIA, the larger the percentage increase in RRR. The results are significantly improved by adding a pre-commencement death benefit for those who die before benefits begin, but this is offset by larger decreases in RRR for those dying between ages 85 and 89 and smaller increases in RRR for those living beyond age 89. The need for longevity protection is arguably less for those in the lowest wage quartile given their greater reliance on Social Security. We broke out the overall RRR changes by age-specific wage quartiles and found that in all but the smallest DIA purchase (5 percent of the 401(k) balance), households in the lowest age-specific wage quartiles experienced a decrease in RRR from the purchase of a DIA without a pre-commencement death benefit. However, households with higher wages had a much more positive experience, with those in the second age-specific wage quartile experiencing an increase in RRR for all purchases through the 20 percent value. Households in the third age-specific wage quartile experienced an increase in RRR for all purchases through the 25 percent value, and those in the highest age-specific wage quartile experienced an increase in RRR for all purchases simulated (through the 30 percent level).

Learning in the third age: drawing wisdom from reflective stories in community art education

ABSTRACTThird-age learning is a subset of lifelong learning enjoyed by individuals in the stage of retirement, and often 60 years or older. Community art education (CAE) for learners in the third age commonly occurs in recreational settings, nursing homes, museums, libraries and places of worship. In addition to these informal learning sites, there are CAE programmes developed within postsecondary institutions that provide opportunities for artistic inquiry and instruction. In the following article, we share a case study involving third-age learners conducted in the 2014/2015 academic year. We begin by briefly describing an innovative CAE programme at Concordia University in Montreal, Canada, and then discuss a specific initiative undertaken in cooperation with the University’s alumnae extended education programme. Our study explored large questions about motivation, curriculum and pedagogy, but also focused on major themes in lifelong learning and the individual stories of the participants. One participant, named Reto, is featured in this article, and with his collaboration we offer a co-constructed narrative alongside an analysis of themes including personal development and social inclusion. The insights gained through our study have potential broad applicability for the general area of university–community partnerships and for CAE for the growing third-age population.

: (The Fate and Profession of the Ballet Dancer: The Relationship between Career Transitions and Bodily Practices)

Russian Abstract: Профессиональные траектории, включая представления о будущей профессии и ее последующий выбор есть основа самореализации человека в обществе, а также одно из важнейших решений в жизни каждого, которое определяет будущее человека: кем быть, к какой социальной группе принадлежать, где и с кем работать и какой образ жизни вести. Артисты балета представляют собой уникальную социально-профессиональную группу. Специфика профессии людей, посвятивших себя танцевальному искусству, заключается в раннем начале профессиональной подготовки (с самого детства) и относительно скором завершении артистической жизни (приблизительно в 40 лет). Карьера артиста балета недолговечна и напрямую зависит от физического здоровья. Профессиональная идентичность артистов является первичной по отношению к другим идентичностям, поэтому в период окончания карьеры, потери работы в случае необратимых травм артисты переживают кризис, а инструментом адаптации выступает эмоциональная зрелость, сформированная за счет постоянного контроля тела, преодоления боли, физических напряжений, связанная с необходимостью переосмысления собственного возраста еще до наступления стадии выхода на пенсию. Одним из социальных маркеров кризиса идентичности является выход на пенсию – утрата основной идентичности и наступающая вследствие этого необходимость ее переопределения. С одной стороны, наличие большого набора социальных ролей, профессиональная переподготовка могут служить эффективным средством продуктивной адаптации к ситуации выхода на пенсию, а также снижению остроты переживания кризиса идентичности. С другой стороны, узкая специализация артистов балета может быть неблагоприятным фактором, препятствующим адаптации на стадии полного выхода на пенсию, характеризующегося уходом с основной сцены, прекращением тесных связей и контактов с прежним близким окружением, отсутствием пристального внимания публики к своей личности. English Abstract: Professional trajectories, including ideas about the future profession and its subsequent choice, are the basis for a person's self-realization in society, as well as one of the most important decisions in the life of everyone that determines the future of the person: who to belong to, to which social group to belong, where and with whom to work and what lifestyle lead. Ballet dancers are a unique social and professional group. Specificity of the profession of people who devote themselves to dance art consists in the early commencement of professional training (from childhood) and the relatively early completion of artistic life (about 40 years). The career of the ballet dancer is short-lived and directly depends on physical health. The professional identity of artists is primary in relation to other identities, therefore, in the period of the termination of a career, loss of work in case of irreversible injuries, artists experience a crisis, and the adaptation tool is emotional maturity, formed due to constant control of the body, overcoming pain, physical stress associated with the need rethinking their own age even before the stage of retirement. One of the social markers of the identity crisis is retirement - the loss of the basic identity and the consequent need for its redefinition. On the one hand, the presence of a large set of social roles, professional retraining can serve as an effective means of productive adaptation to the situation of retirement, as well as reducing the severity of the experience of the identity crisis. On the other hand, the narrow specialization of ballet dancers can be a favorable factor preventing adaptation at the stage of full retirement, characterized by withdrawal from the main stage, the cessation of close ties and contacts with the former close environment, the lack of close attention of the public to one's personality.

Optimal Longevity Risk Management in the Retirement Stage of the Life Cycle

The uncertainty in life expectancy plays a critical role in individual financial planning. Its impact is magnified during the retirement years (the wealth distribution stage of the life cycle), as new sources of income typically are not available to retired persons. Utilizing a multi-stage stochastic program, the authors model and solve the optimal asset allocation problem of a retired couple with uncertain life expectancy in the presence of a term life insurance policy. In the base case, they find optimal policies assuming no longevity risk (i.e., lifetime scenarios are uncertain although life expectancy is fixed on the retirement date). Next, they introduce longevity risk in the scenario generation stage through either a shift in the expected lifetimes or an unexpected cut in periodic retirement income. The authors find that the optimal asset allocation policy depends on the presence and the type of these risks as well as the relative price of insurance and the size of any cut in pension benefits.

Optimal Longevity Risk Management in the Retirement Stage of the Life Cycle

The uncertainty in life expectancy plays a critical role in individual financial planning. Its impact is magnified during the retirement years, also called the wealth distribution stage of the life-cycle, as new sources of income are typically not available to individuals. Utilizing a multi-stage stochastic program, we model and solve the optimal asset allocation problem of a retired couple with uncertain life expectancy in the presence of a term life insurance policy. In the base case, we find optimal policies assuming no longevity risk (i.e., lifetime scenarios are uncertain although life expectancy is fixed on the retirement date). Next, we introduce longevity risk in the scenario generation stage through either a shift in the expected lifetimes or an unexpected cut in periodic retirement income. We find that optimal asset allocation policy depends on the presence and the type of these risks as well as the relative price of insurance and the percentage cut in pension benefits.

Acute changes in blood lipid profiles and metabolic risk factors in collegiate elite taekwondo athletes after short-term de-training: a prospective insight for athletic health management

BackgroundThis study used a short-term de-training model to mimic the physiological weight changes during the early retirement stage in Taekwondo (TKD) athletes. This study investigates whether the negative changes in body composition, blood lipid profiles, and metabolic biomarkers occur in elite collegiate TKD athletes when experiencing a two-months de-training period.MethodsFourteen collegiate Division Ι elite TKD athletes (age: 21.1 ± 0.2 years, BMI: 22.3 ± 1.1 kg/m2; 10 males and 4 females) participated in this study. The body composition, blood lipid profiles, atherogenic dyslipidemia indexes, metabolic biomarkers and baseline systemic inflammation states were measured before and after two-months de-training.ResultsThe body weight and BMI did not change after de-training in these elite TKD athletes. The total muscle mass displayed a significant decline after de-training (−2.0%, p = 0.019), with an increase in fat mass (+24.3%, p < 0.01). The blood triglyceride did not change, but the total cholesterol was higher after de-training (+8.3%, p = 0.047). The CHOL-to-HDL and LDL-to-HDL ratios increased by 12.4% (p < 0.001) and 13.2% (p = 0.002) after de-training, respectively. The blood platelet number, plateletcrit, and platelet-to-lymphocyte ratio increased significantly by 5.0% (p = 0.013), 7.3% (p = 0.009), and 20.6% (p = 0.018) after de-training, respectively. The McAuley’s Index decreased (−6.9%, p = 0.025) after de-training.ConclusionWe demonstrated that a two-months de-training period resulted in adverse effects on early atherogenic dyslipidemia development, progressing insulin resistance, low-grade inflammation, and visceral adiposity in young elite TKD athletes. Our findings provide clear insights into the possible deleterious impacts at early stage retirement in former combative sports athletes.

Career Onion: Peeling Off the Layers for Occupational Preferences and Career Aspirations

Vocational psychology carts away the vocational behavior regarding the occupational preferences of every individual, which commences at the period of adolescence. These occupational or vocational preferences are shaped or crystallized through career guidance and theories, which further help an adolescent to climb the career ladder towards achieving career aspirations and success. This research article, focuses mainly on five theories, self-concept development theory, valence-instrumentality-expectancy theory, theory of work adjustment, tournament theory and Maslow hierarchy of needs theory, which help the adolescents with the occupational preferences, assist in climbing the career ladder from growth stage to retirement stage, ultimately resulting in achieving career aspirations. Furthermore, researchers reveal the differences among these theories highlighting unique features of every theory in predicting occupational or career preferences. Researchers also draw the career onion, where every layer of the career onion depicts that every adolescent peels off each career layer (starting from the growth stage until he eventually peels off the last layer of the retirement age) to achieve career self-actualization.

Career Onion: Peeling off the layers for Occupational Preferences and Career Aspirations

Vocational psychology carts away the vocational behavior regarding the occupational preferences of every individual, which commences at the period of adolescence. These occupational or vocational preferences are shaped or crystallized through career guidance and theories, which further help an adolescent to climb the career ladder towards achieving career aspirations and success. This research article, focuses mainly on five theories, self-concept development theory, valence-instrumentality-expectancy theory, theory of work adjustment , tournament theory and Maslow hierarchy of needs theory, which help the adolescents with the occupational preferences, assist in climbing the career ladder from growth stage to retirement stage, ultimately resulting in achieving career aspirations. Furthermore, researchers reveal the differences among these theories highlighting unique features of every theory in predicting occupational or career preferences. Researchers also draw the career onion, where every layer of the career onion depicts that every adolescent peels off each career layer (starting from the growth stage until he eventually peels off the last layer of the retirement age) to achieve career self-actualization.

Career Onion: Peeling off the layers for Occupational Preferences and Career Aspirations

Vocational psychology carts away the vocational behavior regarding the occupational preferences of every individual, which commences at the period of adolescence. These occupational or vocational preferences are shaped or crystallized through career guidance and theories, which further help an adolescent to climb the career ladder towards achieving career aspirations and success. This research article, focuses mainly on five theories, self-concept development theory, valence-instrumentality-expectancy theory, theory of work adjustment , tournament theory and Maslow hierarchy of needs theory, which help the adolescents with the occupational preferences, assist in climbing the career ladder from growth stage to retirement stage, ultimately resulting in achieving career aspirations. Furthermore, researchers reveal the differences among these theories highlighting unique features of every theory in predicting occupational or career preferences. Researchers also draw the career onion, where every layer of the career onion depicts that every adolescent peels off each career layer (starting from the growth stage until he eventually peels off the last layer of the retirement age) to achieve career self-actualization.

Impact of persistent bad returns and volatility on retirement outcomes

We examine wealth outcomes and risk of ruin faced by retirees due to persistent bad returns and high volatility in equity markets occurring at different stages of their retirement. Our results show poor equity returns persisting over long periods can put retirement security to serious risk but volatile market conditions actually have the opposite impact. The timing of such persistent bad returns and volatility (early or late stages of retirement) is critical and has differing effects on retirement outcomes. The results are robust to varying portfolio allocations to equities although the precise impacts are different.

A Secular Approach to Investing for Retirement

We know stock investing offers defined contribution retirement plan participants a viable vehicle to both grow and sustain retirement assets. This paper explores a secular approach to investing using both fundamental and technical analysis to support plan participants in the preretirement (accumulation) and retirement (distribution) stages including a pragmatic and prudent approach to a systematic withdrawal rate.

Reconceptualizing retirement: A status-based approach

The one thing on which essentially all retirement scholars agree is that there is no generally accepted definition of the term “retirement.” Hence, it is not surprising that a plethora of competing models of the stages of retirement has been generated. To cut this Gordian knot, this paper proposes that the concept of statuses, which are not necessarily mutually exclusive or sequential, replace the idea of stages. Statuses better reflect observed human behavior and are more open to multicultural application, thus facilitating retirement research and clinical practice. The retirement statuses proposed here, which can exist in any combination or sequence, are retrenchment, exploration, try-out, involvement, reconsideration, and exiting (forming the acronym RETIRE).

Urban Investors' Life Cycle Stage and Investment Pattern

Study has been undertaken to examine relationship between Life Cycle Stage and Investment Pattern of Urban Investors. Eight Life Cycle Stages and twenty two investment instruments has been handled. Investment pattern of 973 samples were taken for analysis using ANOVA, Correspondence Analysis, Friedman Test and K-S-Z Test. Structured Schedule was used for collection of data and reliability was tested using Cronbach's Alpha which was found to range from 0.796 to 0.895 for all structures. Study focused on objectives; to know the investment pattern at different Life Cycle Stages of urban investors and to find the preference of investors for safer and risky avenues. Outcome reflected that Traditional avenues and safer avenues have been reflected as preferential choice of urban investors. And Life Cycle Stage of the respondents does not influence the choice of investment avenues totally but samples in Bachelor Stage and Post Retirement Stage are found to have different investment pattern as compared to respondents in Other Life Cycle Stages.

수도권 거주 자가소유 베이비부머의 주택자산효과 변화 분석

The purpose of this research is to analyze the wealth effects of home-owning baby-boomers on household consumption on non-durable goods in the Seoul Metropolitan Area. In so doing, this empirical study utilized the Korean Labor and Income Panel Study (KLIPS) of 2002 and 2012. The statistical findings reveal that household wealth in the period had sharply risen in household income, asset, debt and consumption, and the substantial increase came from growing income and consumption embedded into an expansionary stage of the family life cycle. Further, housing wealth had a much greater effect on consumption expenditure than did financial asset in 2012 while financial wealth effect was larger than housing wealth effect in 2002. Housing wealth effects had become far stronger as the age of the baby-boomer householders increased. As the baby-boomers are close to the retirement stage, post-retirement income security becomes of concern, so that the wealth effect of real estate income as an income alternative for retirees is explicit. The results imply that retirement of baby-boomers is likely to reduce consumer spending, aggravating slowdown of the real economy. Thus, diversification of household asset portfolio in a pre-retirement period is of great significance in maintaining adequate household consumption in later life.